It’s time for the quarterly ProfitFarmers news covering April, May and June of 2021.
Signal Result Highlights
Quarterly breakdown with Matthew:
Results Report Download
Download the latest results infographic now! Simply choose from the options below:
What’s new with the ProfitFarmers platform?
Laddering mode
Laddering entries is a technique where instead of buying at a single price, you can incrementally buy into the trade at different prices. When enabled, orders will be split into 5 entries by default and the entry prices will be based on the signal’s suggested entry zone.
The system will use a portion of the amount you’ve allocated to buy the coins once the price reaches those levels. The amount used will be based on the percentage you’ve set.
Pros – No need for heavy technical analysis, trade setups are extremely fast
Cons – You may get lazy or run into position size issues
You can learn more about the pros and cons of the laddering feature from Matthew in the video below:
User Interface Update - View % gains per target
One of our members pointed out that it would be helpful to see the exact % gains at each target and also the %loss if a stop loss is triggered.
We couldn’t agree more so went ahead and added that to the trade forms. This makes it nice and easy to decide how much of your trade you want to take profit on at each level!
We added a ‘BETA Features’ mode
We are often adding new features and updates to the platform which can occasionally lead to a bug slipping through. For extra security and so that we can ‘mess around’ a little more with ideas we introduced a BETA branch of the platform where our members can safely test the latest features in a live environment.
Read our blog post to learn more!
New CM strategies
We constantly adapt to the market conditions and that means creating new signal strategy algorithms. The latest of those are the ‘CM’ family of signals.
These are designed to trigger during choppier market price action on both the LONG and SHORT side.
They can be a little more rough to ride as ranging/choppy markets tend to have a lot of micro trend changes but the results so far have been good!
The Biggest News in Crypto This Quarter
Bitcoin all time high!
April probably saw one of the best months for crypto. Bitcoin reached an all time high on April 14, 2021, reaching prices of almost $65,000. That’s 3x of the previous all time high of 20,000, Parallely, the cryptomarkets also reached an all time high of around 2.5 trillion dollars!
Ethereum, the second-most valuable digital coin after bitcoin, also set a fresh record, climbing to $2,317.
What helped the surge? Here are a few reasons:
- Coinbase went public – Crypto investors are hailing the Coinbase debut as a major milestone for the industry after years of skepticism from Wall Street and regulators.
- Wall Street giants like Goldman Sachs and Morgan Stanley are looking to offer their wealthy clients some exposure to bitcoin.
- Tech tycoons have been pumping up coin prices (looking at you, Michael Saylor and Elon Musk.)
Elon musk’s love-hate relationship with the Bitcoin community
Where did it all begin? January 29, 2021. Elon shook the crypto community by adding the hashtag #bitcoin to his twitter bio and tweeting “in retrospect, it was inevitable”- which pumped Bitcoin by 20%. It was a sign of the good things to come.
In retrospect, it was inevitable
— Elon Musk (@elonmusk) January 29, 2021
Not long after, Tesla announced in an SEC filing on February 08 that it has bought $1.5 billion worth of bitcoin. The company said it bought bitcoin for “more flexibility to further diversify and maximize returns on our cash.”
That shot bitcoin’s price up again, reaching a then all time high of 44,200 and increasing Tesla stock by 2%. At this point, the crypto community was head over heels for Elon.
The company also said it would start accepting bitcoin as a payment method for its products.
You can now buy a Tesla with Bitcoin
— Elon Musk (@elonmusk) March 24, 2021
I wish I could say this ended in a perfect love story and everybody had a vacation on the moon, but come May Elon did Bitcoin dirty:
Musk later began to flip flop due to accusations that Bitcoin is not energy efficient enough and ultimately helped fuel a major crypto market dip (the -54% May dip!):
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Anti Tesla and #cancelElon hashtags suddenly infested Crypto twitter, and so Elon turned from being the Bitcoin communities’ hero to public enemy no 1. Since Elon’s now infamous tweet, the Bitcoin council has confirmed that Bitcoin is actually green in terms of energy usage. Ball in your court Elon!
China shuts down crypto mining
Yawn…Oh sorry we fell asleep for a moment.
This is the seemingly millionth time that China has moved to attack Bitcoin. This time it is the miners who are in the firing line as they have been asked to find a new base of operations.
Past estimates have shown that 65% to 75% of the world’s bitcoin mining happened in China – mostly in four Chinese provinces: Xinjiang, Inner Mongolia, Sichuan and Yunnan.
Many of those miners being kicked out are now heading to the U.S, Canada, some countries in Europe, and even Kazakhstan. How could this move affect cryptocurrencies? Only time will tell.
What is clear however, is that mining will no longer be centralised (65%-75% is a large amount) in one country – As bitcoin miners take their gear and move all over the world, Bitcoin will finally become more decentralised, paving a way for a new era in its history.
This will hopefully play out to be a huge 1 Trillion Dollar mistake for China.
El salvador accepting bitcoin as legal tender, other south american countries keen to follow
We all know about El Salvador taking on Bitcoin as legal tender. But the more recent developments are also exciting as we are seeing interest from other South American countries.
For example, an Ethereum ETF is planned to list on the Brazilian stock exchange. The ETF will list on the Sao Paulo-based B3 exchange under the ticker QETH11.
Paraguay is also beginning to model a Bitcoin Law for their own citizens. There has been a little disappointment with the early draft but it is progressing all the same.
Trading signal statistics - full breakdown
Our algorithms generated over 640 signals in 91 days (3 months) across the various strategies available in our arsenal.
That’s an average of 7 seed signals closing every single day for our members all around the world.
When we broke down the winners and losers, we saw a massive 22.03 % of them hitting at least target 1!
That’s 520 out of 640 (3 out of 4) signals offering up at least some profit potential! Only around 19% (120) of our signals generated and vetted by the experts went directly to stop-loss.
Our favourite trade for the quarter
Target spread and profit per target
Here is the breakdown of the winners for this quarter. Let us discover which targets were being hit.
Overall, an amazing 59% of our signals hit targets 2, 3, or 4! That’s half of our signals offering some serious potential gains!
Target 2 was hit more often than any other target! Followed by Target 4!
Let us check the Average peak gains from each entry. You can see amazing results!
Overall summary:
- 22% (141) of our signals hit target 1 and made an average peak gain of 9.88%
- 22.50% (144) of our signals hit target 2 and made an average peak gain of 19.98%
- 15.47 (99) of our signals hit target 3 and made an average peak gain of 24.69%
- 21.25% (136) of our signals hit target 4 and made an average peak gain of 53.77%
Only 18.75% of our signals went directly to stop-loss.
Average depth for April - June 2021
We’ve seen these past few months, the prices have been dipping at an overall average of around 45% from the top of our buy zone.
That means for this period, the best ‘average’ way to get into the trade is to set your entry price just around 40 – 44% if you were trading spot or around 41-45% if you were keen on trading Futures*.
If in doubt, use our laddering feature to take the stress away!
*Keep in mind that this doesn’t always indicate a future trend.
Top 10 Trades for the Quarter
It’s really inspiring to see that our top 3 signals for this quarter achieved 170% peak gains!
We remember back to a market update we published during April with some Coins in focus, DOGEBTC was one of them. Maybe one of our best performing trades this year, achieving an incredible 195.37% peak gain in just 3 days!
DOGEUSDT also provided us with a 165% peak gain in just 1 day, hotdog!
April had an amazing month for crypto! our top 10 trades may have just been proof of that!
Come with us to the moon!
We would like to express our gratitude to our users for your continuous support. You’re the ones who keep us going! We’ve enjoyed the great bull run so far and managed the dip with finesse.
Thank you for taking the time to share your thoughts and feedback. It helps us continue to develop ProfitFarmers into a platform that’s the most useful and valuable for your trading experience.
Be more profitable and start making trading work for you again.
Join ProfitFarmers and:
Easily execute trades like an expert
Frequently find more profitable trades with less time
Cure the emotions & FOMO that cuts into profitability
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