Bitcoin Forum

Hi all,

have you ever tried to buy the dip on a small exchange, creating a medium-large buy order at a considerably lower price than current price, and here we are! from nowere another trader puts an order one satoshi higher than yours in a matter of seconds. Of course those are bots, I just want to fight with same weapons and ask if someone knows what bot is that, if it's a commercial one or custom.

thanks to all.

Yeah they are pretty annoying if you have been trading daily. I don't know what kind of bot is that but they usually do this to make pump and dump. They are all over majority of exchange and I think these are the same people behind all of those bots.

I searched for those bot but it seem no info found and one discussion that I've found is this:
https://www.reddit.com/r/binance/comments/76v46r/whats_your_feelings_on_all_the_bots_trading_on/

thanks for reply,

I think there are many kind of bots out there, like you say pump and dump bots (the ones very fast to buy after the signal and sell), wash trading bots (bots buying and selling to themselves, to increase exchange volume and attract users) but the bot i am searching is a different kind and I think is driven by skilled investors, indeed it can greatly help you to catch fatfingers and buy at a low price (or sell at high) because they can put the order always in the first place...

My god, I know those bots. My first experience happened on a Russian exchange. I changed my order and immediately the order below me changed and increased to just 1 sat above me. And the same thing on the other side of market. I thought this was banned by exchanges but later, I realized that all exchanges allow it. After all, they make money from commissions so they don't care.

I guess these bots are easy to use. Do share what else you find out. I would like to try it maybe if someone can find where it is located.

FWIW having that bot is not going to help you at all. trading is not about setting your orders on top of others to "win" the profit! that is a naive way of thinking.

trading is about speculating the market and then making the best decisions. if you think price X is the best entry price or exit price then you should not mind whether there are other orders in front of yours or not. the choice of price X is important.

these things may seem small and meaningless to you, but they are the factors that make someone an expert who consistently makes profit and another one a newbie who consistently loses money.

I'm not very familiar of their names but most of them really are annoying if they are doing it against the other traders. There are some bots that are also offered in some sections of the forum if you just know but I don't think these are the bots you have been looking for.

If happen that you want to see the link, most of them are on Service Announcement (Altcoins). But I think you are aware of those trading bots that are for sale. With those bots that I'm mentioning, most of the feedbacks are positive.

happy to see someone else is interested... I am afraid these are custom scripts I've some coding skills but not enough to code myself from scratch...

generally speaking, you're right. But believe me I did profits for months choosing a buy price x% lower than current price, with an order a bit bigger than average of the order book, and almoust every day someone sold to me at that price (and then I could sell elsewere at market price), but I always had to "share" my profits with those using that bot, whose orders were filled before mine. Looks like those bots scan the order book for new "big" orders coming, and if it's enough distant from the market price, puts the order 1 sat before yours. So you cannot even trick them to make an order you can fill yourself.
You can also put more smaller orders and you somewhat slightly mislead them, but a certain point they catch your game all the same.

90% of trading activities are done by Robot, perhaps even more.

But this is not typical of crypto, but also of traditional markets. There is a "war" to grab spaces near the internet portals, so as to have very rapid response times.

The Robots in the crypts have existed since its birth, the elderly users will remember Willy BOT perfectly then discovered who he was.

These bots are the same ones responsible for pump and dump, but also for Flash Crash.

Do you want to fight these robots with the same weapons? Well, great, start studying, it's not impossible ;)

If you happen to find that bot please share it here. Definitely, traders will be happy to use that so we can get even with trading sites. I know there's someone here in the forum that create bots though I'm not sure if he's also in trading.

However, I feel like this bots aren't free, I guess we need to pay some fee if ever someone will create.

What will happen if everyone is going to use this bot?
Yeah, coins get dumped and everyone will lose money. Great  ;D

Those bots are custom made, probably with the Gekko bot.
I'm no coder but it shouldn't be that hard: check orderbook for pair XXX -> create order @ price -1 sat.. or something like that.

I really hate those bots, it is why i tend to stay away from binance as it is full of them. Prices jump all over the place, and as there are so many bots it isn't by 1 sat but many sats. Huobi is a better exchange than binance

No, I don't buy on a small exchange except if I have a target coin for one reason. But I don't care with the existing the bot although I know that I cannot beat their movements that could be faster than me.

I know that I have a way to fight with the bot, but I don't use it too often because I think it's not good to fight with the bot and it only gives the bot the chance to buy that coin at a lower price than us. It's better to leave the bot as in that way and let the other traders fight with the bot.

In a big market with much liquidity I don't find a bot to be particularly negative. What really pisses me is when I try to buy cheap a small volume coin, put an order a bit greater than the others, in a place of the book I considera convenient and possible, and suddenly out of nowhere comes another big order ahead of mine by 1 sat. Like if some1 sayd "hey look, some1 is going to buy many coins at that price, it must be a bargain, I want to buy too."

and what pisses me even more, is that is a good strategy, I think.

AND... there is no way to fool the bot with many smaller orders: as soon as your orders have a certain cumulative magnitude, the bot triggers again