Bitcoin Trading Bot Idea

Hey everyone! Just joined this forum and I’m diving into Bitcoin. I've got a little stash of sats and I wanted to bounce an idea off you all. I'm thinking about creating a bot that would trade automatically on a brokerage. The plan is to make small daily investments, with the bot acting as a trader: it would sell when BTC goes up by 1% and buy when it drops by 1%. Any profits would go back into buying more BTC, which I'd move to a wallet. What do you guys think? Any advice or things I should watch out for?

Selling it every time it goes up or down 1%, how can you make a profit from it if you do that? My logic says that it won't produce anything if done, not to mention if there are unexpected events in the market such as drastic price drops or increases. Are you sure the bot can keep up with all that?

The idea is a short-shot operation: buy, profit and sell. As soon as I reach 1% profit on the lot, I will sell it. As the operation will be in USDT, I will still be in the same profit with smaller fluctuations. The plan is to invest R$25 per day in this strategy, which totals around R$750 per month. The goal is to reach R$250 in profit, keeping the R$750 in continuous operation.

In most of the positions you place,  your gamble will work. in the rest , you will loose. Now, the question is how much you plan to loose.

In which situations is my bet most likely to fail?

Unless you have a VIP account with zero fees, you will lose all your profits as fees, especially since Bitcoin changes by 1% several times per day . You can set a min limit of 10% or 5%, but without technical analysis, the final result will be negative. So learn more about the basics of technical, support & resistance points and remember that trading in a bull market is more difficult.

What basic technical indicators do you recommend to start understanding support and resistance?

The Bitcoin market is not suitable for tourists who come to visit with an idea hoping to to gain fast profits. My advice is take your time, learn the bitcoin market that is totally different from any other market in the world.   If you are not fully into it, the best thing you can do is buy bitcoin (e.g, every month or every other month) , store it in a hardware wallet and come back to see how your portfolio performs at the end of each year. good luck

I'm not just a tourist visiting the fantastic Bitcoin island. I already buy a lot from this island monthly and keep it in my cell phone wallet. However, it is a Know Your Customer (KYC) transaction, which I have been studying. My goal is to eventually sell my Bitcoins and buy them back without going through KYC. That being said, my intention with this BOT is to generate more revenue to purchase additional BTC. From my perspective, the “safest” coins for this purpose would be BTC and USDC. Of course this plan is based on my current knowledge and understanding.