UnTrade has recently launched BARS 3X, an upgraded version of their popular BARS strategy. The original BARS strategy has been a top-performing algorithm for UnTrade, delivering a cumulative return of 7,035.8% over the past 4 years. With positive returns in 14 out of 17 quarters since its launch and effective risk management, BARS has consistently outperformed Bitcoin benchmarks. In response to this success, UnTrade developed BARS 3X, which applies 3X leverage to amplify returns while maintaining a balanced risk profile.
The results of backtesting BARS 3X revealed some surprising outcomes. While drawdowns increased by 2.63 times, profits increased by 66 times. This asymmetry between risk and reward can be attributed to the power of compounding over time, especially with higher leverage. In its first month of live trading, BARS 3X demonstrated its potential to significantly outperform the market. With an initial investment of $1000 growing to $1675.4 in just one month, representing a 67.5% return on investment, the strategy showcased its ability to capitalize on market movements.
Key features of BARS 3X include increased profit potential, managed risk increase, long-term focus, and higher volatility. While the profit potential is significantly higher compared to the standard BARS strategy, users should be prepared for larger price swings with a maximum drawdown of 56%. When deciding whether to use BARS 3X, users should consider factors such as risk tolerance, investment horizon, portfolio allocation, and financial situation. It is essential to never invest more than you can afford to lose, especially in higher-risk strategies.
To get started with BARS 3X, users can log in to their UnTrade account, navigate to the AI Bots section, select BARS 3X from the available strategies, set their Binance Account, and activate the bot. UnTrade’s customer support team is available to assist users with any questions or concerns. While BARS 3X offers the potential for significantly higher returns, users should understand and accept the increased risks associated with 3X leverage. Diversifying investments and only risking capital that can be afford to lose is always recommended.
In conclusion, BARS 3X represents an exciting development in algorithmic trading, building on the success of the original BARS strategy. While offering the potential for higher returns, users should be aware of the increased risks involved with 3X leverage. By considering factors such as risk tolerance, investment horizon, portfolio allocation, and financial situation, users can determine if BARS 3X is the right strategy for them. UnTrade continues to innovate in the world of digital assets, providing users with opportunities for growth in the crypto market.
