Bitcoin Forum

Hi,

Ive just managed to write a quick bot to interact with britcoin to buy and sell, get balance and rates etc.

What would be a good strategy to run with the bot?

At the moment I only have a customizable rolling stop option ive currently set to 0.30 where if the value drops by 30p or more, then will automatically sell.

Havn't had it long enough to test anything yet, but what would be a good strategy to implement?

I will release it at a later date.

?

multiple buy orders to take advantage of price drops, and multiple sell orders to take advantage of price spikes.  adjust trades around the current price and leave enough of a spread that you can profit off of your trades after fees.

Fees are zero at Britcoin. :)

even better! no fees means you can make money off of very small swings in price  ;D   

I didn't even know britcoin had a trading API - is that documented anywhere?

They are working on one, but my method just submits forms on their page. works just as well as long as they dont change any of their settings. The openid login system is a bit anoying but have worked it out now.

I'd be interested in acquiring this bot :)

Just very basic for now, just grabs the current value, and keeps checking it until it drops below a rolling stop value then sells the entire balance, quite messy at the moment as im having to work around their interface.

As its 0% fee's, would it be worth selling all the coins instantly for the going rate, and as soon as the value drops down again then buy them again? since the value is fluctuating so much this would be a perfect way to make small profits?

lawl  ;D
ask goldman sachs!

well i wouldnt sell all at once, gotta leave some money/btc liquid.  you should set up a trading band (the bot should keep orders within your trading range, and cancel/make new orders based on price fluctuations).

if the current price was $10 (and you pay no fees), your trading band may look something like;

sell 2 btc    @12
sell 1.5 btc @ 11.50
sell 1 btc    @ 11.00
sell .5 btc   @ 10.75
sell .5 btc   @ 10.50
sell .2 btc   @ 10.02

buy.2 btc   @ 10.01
buy.5 btc   @ 9.95
buy 1 btc   @ 9.50
buy 1.5      @ 8.5
buy 2         @ 7



check out https://dnnbitcoin.aricie.com/ its the bot i am using right now. the default (linear trading) strategy is basically what i explained above. it may give you ideas for your own bot (and its open source, so you can check out the code.)

+1

How are you getting on wit this ? And does it work with the new look Britcoin ?

stopped doing it - designing one on the Arduino instead now :D

That will be very interesting. Update us with how you get on :)