Bitcoin Forum

Hi All,

I'm creating a trading bot, which watches how LTC and BTC moves and then automatically trades when the price is high and low.

Has anyone got any information about what kinds of indicators to use. I do computer science not economics, so I can program the indicators
but don't know which ones will be best.

Any info will be appreciated!

I wish you the best of luck.  The FEW open source bots i found were coded in python and you could see code for how they made it.  The ONE TRAIL bot i found was not open source but was every interesting to watch how the bot learned in a days time.

It is not clear for me what you are trying to achieve. Do you want to trade BTC/LTC, or monitor BTC/USD and LTC/USD ratios?

I believe hes looking at BTC/USD and LTC/USD.

The idea is to watch how LTC/USD moves and then trade to USD when the price is high and then back to LTC when the price falls.
What I'm looking for are indicators that other have used to show when that price change will occur.

Cheers for the reply

I think that very simple you'll have to do some sort of pattern detection algorithm, to detect when it's at the most probably cheapest or expensive. (from the curves of the graph)

Edit: I don't think you can find any reliable indicators. Except for a spike possibly resulting in a drop (back to normal, or less) and a valley resulting in a return to normal.

start reading about http://en.wikipedia.org/wiki/Technical_analysis (http://en.wikipedia.org/wiki/Technical_analysis). best you find someone that uses stock trading software to help you out.

 

Goomboos Journal might be helpful:
https://bitcointalk.org/index.php?topic=60501.0

Great link! Thanks

I think a lot of day traders are already doing this with their high frequency trades, good luck with your endeavour!

I don't see what the point is of worrying about LTC/USD. The real index for LTC is LTC/BTC.

Be aware that these exchanges are highly manipulated.  It makes it fun, but can kill a bot that's not prepared to deal with outside the norm situations, such as the BTC rise on Gox last week.

I know you're saying BTCe but as far as I can tell BTCe shadows Gox and either the site has a trading bot that sets prices relative to Gox, or there are a few bots with lots of bank that are setting the prices.

Make sure and study the meteoric rise of LTC over a few days, that all started with a massive pump.  Then study Saturday 6th.  I was online at BTCe when some guys came in with big btc bank and bounced the charts a little to manipulate the prices.

If you can figure out the elasticity between Gox and BTCe that likely could yield great results.

If there was an easy way to short BTC, then it would be fairly easy to make money on price differences between the various exchanges...at least until everyone figured out how to do it too.

I would be interested in some kind of trade bot for mt gox

bots are dangerous to play with.

Keep us posted would love to see how this turns out.

Are there any Open-Source trading bots for BTC-e, with customizable algorithms? I don't have the expertise to program a trading bot, but I have some solid ideas on when a bot should execute trades.

Please would you send me a PM with your ideas/algorithms for trading? I have a pretty cool trading app for btc-e written in Java, and I'm studying how should I implement a trully effective auto-trading mode for it. I created this app most for personal use, however I could share it with you if it happens to be that usefull.

Of course there are no trading bots out there. Open source or not. If everyone has a bot then the bot will become less effective at making money.

Anyways, Here's an idea from a friend(Who is making a bot, by coincidence): pass the trollbox on btce through a bayesian filter. :P That way, you can calculate possibilities of prices rising or falling depending on what people are saying. Have fun!

did anybody hear about http://code.google.com/p/ga-bitbot/

its an opensource trading bot project

too bad its not really working, looks like there is still much work to do but dont see any progress

sounds promising though

Check this thread for a Gox Chrome extension trading bot using EMAs (Exponential Moving Averages): https://bitcointalk.org/index.php?topic=67591.300

In post 302 in that thread, TobbeLino forks the bot with a few more options: https://github.com/TobbeLino/GoxTradingBotTobli

I've been testing the TobbeLino bot and it works as described, but it is currently limited to Gox.

The Trading subforum has several other discussions of available bots: https://bitcointalk.org/index.php?board=8.0