Bitcoin Forum

I have a programmer that sits next to me at work and he hasn't been doing much lately, so I asked him about building a trading bot. Well, he created one, and I just want to get some inputs on the logic.

The bot does work, and is up and running, but just looking for some ideas on how to make it better.

It's coded in Python.

It's command line right now, but we are working on making it into a GUI.

It has a config file that it reads to input your Mt. Gox API key and trading paramaters.

How it works.

You start with either BTC or $ in gox and start the bot.

It will look for percentages to buy/sell, but here is the briliant part.

   - say you start with 5% with a 2% drop.

 If Gox is at 500$ and you are looking to sell, it will wait for the price to increase 5%, THEN it will wait for it to keep climbing until it drops 2%. It could go to 575$ then drop 2% and then it will sell. The 2% drop has to still be over the 5% increase. Anyone Confused yet??

It will do the same thing while looking to buy.

You can change the percentages up/down and dip to what ever you want in the config file. Right now I'm using 4% and 2% dip to try to capture larger movement.

Only small issue is because it is waiting for the dip to buy/sell, the market price is used instead of a fixed price.

If you want to try to avoid bull/bear traps you can increase the dip% to a higher number.

Anyway. That's what I have been working on with a coworker.

Any thougths or suggestions?

-Flyboy

On what time scale does it work?

It's constant, but it polls Mt.Gox every 5 seconds. Does that answer your question?