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BreadBot Announcements
All Important announcements related to our Bots will be found here
We have just deployed an update to our Cinnamon Toast bot. This update is something we have been working on for several weeks, we have created a custom volatility index that has been implemented into the strategy. What this does is it allows the bot to take more timely entries and DCA attempts based around our existing strategy indicators as well as looking at market volatility.
So situations where the market is relatively flat or we get a small price decrease in ETH, this would sometimes trigger an entry in CT. These entries while sometimes play out for wins, more times than not is a coin flip and could result in a loss.
Our new volatility index pairs with our existing indicators to ensure that there is a level of volatility in the market, which usually correlates with decent price action. This allows for CT to trigger more timely entries and catch better pullbacks within price. This also allows CT to ignore some entries that would normally take place when price action is relatively flat and no defined direction is shown within the market.
This update has shown a decrease in drawdown by bypassing some of the losing trades we take when market lacks volatility for entries.
In our testing, this update shouldn't take away from past strong performance CT has seen while addressing and resolving some of the recent struggles the bot has had.
Here are the results comparison from mid January till now with the current version of CT vs. the new version with the volatility index.
Current CT Version: New CT Version (Volatility Index):
Net Profit: -6.04% Net Profit: +10.67%
Percent Profitable: 66% Percent Profitable: 82.35%
Drawdown: 5.98% Drawdown: 3.38%
Results shown above are at 1x leverage.
One thing we do to consistently stay ahead is take a fine tooth comb to our trade log data, identify how and where we could have been better or done something differently. As of late, we have been running our trade logs through our data analytics tools we built out and one thing we noticed is…
Sundays suck.
We ran the data across all of our strategies, broke down trades by dates and times and realized a bulk of the losses that Cinnamon Toast and Cosmic Cupcake took were trades that opened on Sundays. So, we coded up all of our strategies to not open trades on Sunday (UTC) and sure enough, every metric category of Cinnamon Toast and Cosmic Cupcake improved significantly!
This is just another innovation and outside the box thought process you get from the BreadBytes team.
Going forward, Cinnamon Toast and Cosmic Cupcake will not open new trades on Sundays (UTC Timezone). If a trade opens on Saturday and carries into Sunday, it will continue as normal. This update will only affect new trades opening on Sundays. These trades are calculated in UTC timezone so depending on where you live, you may still see trades open on Sundays in your respective location.
This update has already been pushed on the backend and you do not have to do anything on your end.
As we always want to be as transparent as possible, I have included the breakdown we did with trade start and stop times and win/losses broken down per day. Also, included is our backtest results currently vs. results once we removed new trades opening on Sundays. This update is only pertaining to Cinnamon Toast and Cosmic Cupcake. Sundays did not have the same impact for Short Bread and French Toast, therefore those strategies are being left as is.
Looking forward to continued performance improvement going forward. We also will monitor our existing strategies that were trading on Sundays and if the data suggests to bring it back in the future, we will.
This is the first of several announcements we have planned over the next week. This first one pertains to a minor update to the Cinnamon Toast parameters which has resulted in a significant performance boost upon changing the DCA setup. The update is a minor clean up of our custom indicators we use. While the 4 DCA setup still has shown highly profitable over the long run, and still does after this update. The 2 DCA process of 50/50 has seen a significant performance increase. Moving to a 50/50 DCA allows for us to pick up a larger win on those trades that are quick hitters and still allows for us to average down once within a trade if the indicators line up to do so.
This update has already been pushed on the backend but there is an action you as a user needs to take. You will need to click on the 3 dots on your Cinnamon Toast bot within your Astrabit Dashboard, select "Edit Bot" and then go down to the DCA section and set it to 50% for Entry 1 and 50% for entry two.
If you leave the setup at 4 DCA at 25% each the bot will not pick up Entry 3 and 4 any longer. Please take a moment to update your parameters to 50/50. Thanks!
We have just deployed a minor update to how Cinnamon Toast conducts DCA attempts. With this new update we are leaning a bit more heavily on the bot taking DCA positions based off Cinnamon Toast's original entry parameters. This allows for more precise DCA attempts as well as more consistent opening of multiple DCA positions at or near the same time.
This is beneficial in a multitude of ways. This will help on those single entry scenarios that we have got in the past.. in most cases with this update it will result in multiple buys, which means higher dollar figure wins. This also means that it will help when CT does take a loss, it won't sting as bad as it has in the past as not every loss will be 4 DCA entries and more of the wins will take 3-4 DCA entries.
From our testing, this update has increased performance against the current version of Cinnamon Toast by about 17% (no leverage) over the last 6 months since Cinnamon Toast launched. This would be a whopping 85% additional returns on 5x leverage. As always past results are not indicative of future results but we think this minor tweak will help bolster the wins and limit the losses, allowing all of us to get a bigger piece of the pie. We will monitor this going forward to ensure performance is top notch. Thanks!
Parameters for the bot have already been updated and will take affect on the next trade. Nothing needs to be done on your end.
A few weeks ago we introduced a big update to our Short Bread strategy, adding in the ability for the bot to check multiple time frames before entering a position. This version has been in beta for 3 weeks and has performed very well. It has taken 8 trades and had 7 wins and 1 loss. (The one loss was a code error we patched immediately after the trade closed). At this time we are taking this version out of beta and replacing the original Short Bread version with this new one that adds in the Multi Time Frame Analysis functionality!
If you want to understand a bit more about Multiple Time Frame Analysis, we wrote an article on it a few weeks ago: https://www.breadbytes.com/blog/multiple-time-frame-analysis
For those of you already running Short Bread (Beta), you will just need to delete the beta bot and re-add the original main version, Those of you running the main version, you don't need to do anything as that version has already been updated. Those of you interested in trying the new version out, you can subscribe to Short Bread in the marketplace.
Short Bread has also been moved from 3x leverage to 5x leverage (updated strategy has tighter TP/SL levels) and the capital able to be traded has been raised from $20,000 to $30,000.
Here are the trade logs from the beta version, if you have any questions, feel free to reach out!
Those of you currently using our Short Bread or French Toast strategies now have access to the Short Bread v1.1 (Beta) and the French Toast v2.1 (Beta) versions. 🥳
These new beta versions add a new functionality to the bots never before seen in any trading bot on the market. Both of these beta versions of the strategies now have the ability to verify trade entries based on looking at multiple chart time frames before taking a trade. This is an exciting breakthrough for our team and we are excited to be able to bring this update to you.
If you want a more in depth understanding of what Multiple Time Frame Analysis is and how it works, we wrote an article on it a few days ago which you can check out here: https://www.breadbytes.com/blog/multiple-time-frame-analysis
For those of you wanting to switch from the current version and try out the beta, the process is pretty simple, you just need to go to your Astrabit Dashboard, then click the 3 dots next to the current version of your bot and select delete bot. Once you have deleted the current bot, you then can select create bot, it will bring you to a page to select a strategy, when you click that, you should now see the beta strategy. Select it, and then complete the rest of the setup as normal. Both of these strategies are single entry and the "Risk Management" section can be left blank as these strategies already have preset take profit and stop loss levels. (You must be currently subscribed to French Toast or Short Bread and be subscribed throughout the beta period to retain access to both versions of the strategy)
We plan to run the beta for the next two weeks and if everything goes smoothly, we will update the current versions with these updated strategies. As always, remember that these are beta versions and there could be minor issues or changes made prior to officially releasing.
Thanks for the support, we'll keep building in the background! 🏗️
We are excited to announce our first update to the Cinnamon Toast strategy! As many of you know our current DCA strategy was designed to pyramid entries based off our indicator setup. Occasionally, this can mean that the strategy will enter into a position and DCA all entries within just a few candles. While this has been successful Alexa’s been baking up something even better.
This update will include a new feature we call "Dynamic DCA"
This is our first feature of many created by Alexa that add dynamic functionality to the way the bot behaves and executes orders.
Instead of the bot statically DCA'ing into a position based off indicators, it will now dynamically add to the position.
For example one of our recent trades:
Old:
Entry: $1,217.76 DCA 1: $1,217.35 DCA 2: $1,217.13 DCA 3: $1,216.12 Average: $1,217.09
New:
Entry: $1,217.76 DCA 1: $1,205.59 DCA 2: $1,199.50 DCA 3: $1,193.41 Average: $1,204.06
The difference of $13.03 is pretty big when we are scalping on such a small time frame and can make or break a trade.
We have a major update to our French Toast bot which is releasing today!
As we have mentioned many times before, we aren't here for a cash grab, we plan to be around in the crypto space for a long time. So now, we are putting that statement to the test!
With the update to French Toast, anyone that is a current subscriber to the strategy will receive 1 FREE month subscription on us to French Toast! We want to reward those of you that put your money into this bot and trust into us.
Those of you that are current subscribers do not need to do anything as we will be taking care of it on the backend.
We also are offering 1 FREE month of French Toast to anyone that wants to try out the updated version! This offer will only be available for 72 hours (from NOW until November 3rd 2022 at 5pm CST) and then you will have to pay full price for the strategy. (Use code FRESHBREAD upon signup to get the strategy for FREE) *This code is only for new users*
Now to the actual French Toast update, this is a long/short swing trading strategy, that means that the bot can flip long and short based on indicator performance and is designed to be in trades for several days or weeks. This allows the bot to have the potential to capture larger wins as it holds the trade longer and operates off a longer time frame. You can expect this strategy to operate significantly different than our original French Toast strategy.
We still believe in the original French Toast strategy, so we will personally continue to trade it and gather data on it. Based on that performance, you may see it resurface down the road.
We hope you will enjoy this update and look forward to seeing the results of the updated French Toast bot. If you have any questions or concerns feel free to reach out. Thanks!
If you would like to see the trade logs for the updated French Toast bot, they are live on our website: https://www.breadbytes.com/breadbots/french-toast
We also kept our French Toast V1 logs on our site if you wanted to look back at the previous versions performance.
As of late you may have seen some of our bots getting stop loss triggered and then the price bouncing back up off that level. Here is an explanation of what is happening and what we are doing about it.
Currently, due to the growth of our bots and subscriber base, we are seeing some significant trading volume when entering and exiting trades. At the moment this is not causing any slippage issues for trades and everyones trade execution is going fine.
However, with this significant volume it does put a bit of a target on us from Market Makers. This comes into play during take profit and stop loss scenarios. When you have primarily percentage based take profit and stop loss levels, those can be seen via "Level 2" by other traders and market makers, usually this happens when getting close to take profit or stop loss points on the chart.
If you look back at some recent trades with Cinnamon Toast, French Toast or Blueberry Muffin, you may see long red candle wicks on the stops and when it gets near a take profit level it may look like its hitting a wall.
On the stop outs, what is happening is market makers are seeing a large sell bid on level 2 and they are selling short a position to push the price down and clear out the stop loss, then they flip long and the asset starts to rise back up again. This generally happens when the price of the asset starts getting somewhat close to the stop loss percentage and then it becomes visible on level 2 and then you can see the action taking place. Here are 3 recent examples from Cinnamon Toast, French Toast, and Blueberry Muffin where this exact thing took place.
Blueberry Muffin
French Toast
Cinnamon Toast
Our French Toast bot will be receiving a very significant update in the next week or two and this update already solves this issue. Also, our upcoming bot that is in beta and yet to be released also already solves for this issue, so both of those bots shouldn't run into these challenges once they are released.
That leaves Cinnamon Toast and Blueberry Muffin, there are a couple ways for us to solve this problem so that our stop loss and take profit levels don't show up on "Level 2" as limit orders and get manipulated by Market Makers, we are currently in the process of testing a couple of different ways we can resolve this while not impacting the performance of either bot. We hope to have a fix rather quickly and we will provide an update once we do.
We are always monitoring our bots performance and optimizing ways to make them better, we appreciate everyones support and will continue to work hard to bring value and a great product to you. Our goal is to help you make money and we will continue to strive to achieve that. As always, if you have any questions or concerns, feel free to voice them in our Discord channel and we would be more than happy to help!
Sometimes we will have longer announcements(like this one) where they are too long for a Tweet or Discord message, but aren't the right format to release as a blog post on our website. This is why we created this announcement channel, be sure to check out this page as anytime we have updates, news, announcements, or anything important related to our bots, we will post them on this page. Each announcement will be dated and the newest announcements will appear at the top of the page so you get the latest updates and news first.
Last modified 1d ago