Team Agga launches first portfolio bot
As of today, the first Team Agga portfolio bot is available in the BOTS app: Mama Mia. A perfect opportunity to introduce Team Agga and their newest bot in more detail.
Team Agga
Most BOTS app users are by now familiar with the bots created by Team Agga: the Mia bots. But who are the people behind Team Agga?
Dennis and Mark (Team Agga) talk passionately about the fast-growing company. Mark: “My co-founder and I have been trading in crypto currencies since 2016 and most people have described us as crazy. A year later they could see what kind of returns we were making. After that, they were soon asking if we could help them.”
And this is how the first ideas for Agga came into being. “Trading takes an enormous amount of time. The strategies we used worked incredibly well,” Mark continues, “but that alarm clock at 4 a.m. to close trades was a lot less appealing.”
The team therefore decided to convert the strategies into algorithms. And they also went one step further. “Building an algorithm is a tricky job in itself, but you also want your algorithm to continuously improve itself.”
And that’s what distinguishes Team Agga from the rest. “At Agga, we build two pieces of software; first the trading algorithms and then the optimisation software for these algorithms. And we do this with a team of really smart guys who all have a scientific background, such as in Quantum Physics and Computer Science at the best Dutch Technical Universities.”
Dennis: “This not only enables us to create the Mia bots for BOTS, for example, but also to produce software that continually improves new software (algorithms).” And that’s what Team Agga is currently doing with a six-person team.
The Mia bots
Team Agga currently has six bots available in the BOTS app: the Mia bots. Each Mia bot employs the same strategy but trades in a different coin. The Sweet Orange Mia trades in BTC, for example, and the Cool Blue Mia in XRP.
“Basically, the strategy of every Mia bot takes the emotion out of trading,” Dennis explains. “The algorithm behind the Mia bots is driven by short-term trends to maintain long-term profits.”
That sounds more complicated than it is. The Mia bots are designed to take advantage of price increases but to get out in time if the price drops.
“Getting out at exactly the right time and keeping your profits is an aspect of trading that many people underestimate. Because there’s also profit to be made there,” according to Dennis.
A quick example:
Imagine that you invest € 100 in a certain bot and the price drops by 50%, say. Your € 100 is suddenly only worth € 50. To restore your original stake, the price must rise again by 100% and not by 50%. Fifty per cent of € 50 is only € 25 and not € 50.
Mama Mia
Mark: “Because the Mia bots are made to hold onto profits and get out when a price drops, you get much better results in the long run. So, the Mia bots also mean that you really don’t need to trade yourself any longer. They already do that for you.”
Dennis bursts into laughter: “It would be crazy to invest huge capital in a hedge fund and then change hedge funds every few hours. The BOTS app is actually a hedge fund, only it is accessible to everyone and not just the rich of the world. The algorithms on the BOTS app are made for the long term, so trading yourself is completely unnecessary.”
Precisely this principle led to Team Agga developing the Mama Mia bot. “It makes the principle of no longer trading on one’s own behalf even simpler.”
The Mama Mia bot has the same strategy as the other Mia bots but trades in all the coins in which the individual Mia bots trade.
Mark: “Actually, the Mama Mia bot is a real sit back and relax bot. The algorithm trades for you in six coins (this will become more in time) and decides for itself when to buy and sell these coins. In addition, of course, the algorithm is continuously optimising itself, so that the Mama Mia bot literally does everything for you.”
Dennis adds that “Algorithmic trading is currently only available to people who can put a lot of capital into a hedge fund, but bots like Mama Mia mean that everyone now has access to algorithmic trading. It’s very fair.”
The Mama Mia bot is available in the BOTS app from today.
You can find more information on Team Agga on their website.
Need help with something else?
If you have any questions about the BOTS app or the Mia bots, please feel free to contact our support department.
On our YouTube channel you will find other instruction videos to help you get started. Also, feel free to visit our Discord channel.
Trading is for everyone
Everyone should be able to trade. And now they can. With BOTS. Interested, but your question hasn’t been answered yet? Please take a look at the FAQs on our website or contact us. We would be happy to explain everything to you personally.
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There is no such thing as risk-free trading. It is possible to lose (part of) your stake.
