Hey Guys ,
   This strikes me as a reasonable request and I think it's worth implementing. However, right now we are devoting all our resources on hosting and after that we will release altcoins. We literally do not have a single free development hour and we want to focus on getting the big tools (like altcoins and hosting) out right now, after that we should have time to focus on this.

We are working on several projects right now, some of which are not yet public, which are taxing our developers to the limit, but we think that when these come to fruition everyone will find them useful and profitable. Please give us some slack on this issue, we think it is an idea worth looking into, but just now we just don't have the resources. We take this request seriously and I will make sure that as soon as we have some free development time this is properly looked into.

Please let me know if you need anything at all.

Pablo.

Hi Kweks ,

   1. You can start with Fiat or BTC or both, it doesn't make a difference.

   2. Yes, you can trade on one exchange, or on all 3. For the time being we only have global settings, but the next release should allow you to set each exchange individually.

 Please let me know if you need anything at all .

Pablo.

Hey ,
  Yes, for now you need to keep Chrome open for the bot to work; we are working on a full hosting solution that should be available in a few weeks.

I would suggest that you trade with a small amount of money, if you are not in it for the long haul you really should avoid trading; you will very likely see losses.

That said, thank you for giving our bot a try, please let me know if you need anything at all .

Pablo.

Hi Flyboy ,
  I explained above how mean deviating trades happen, it's not about this bot or a bot, all trading systems are subject to mean deviating trades because when looked at independently each trade can be seen as the result of randomness; only when you aggregate them and look at them as averages over the long term can you make an accurate observation about the trading system. In other words, you can't judge any trading system at all by a single trade or a small group of trades.

Please take a look a deeper look into trading systems and the mathematical principles I have explained to you and you will understand will see what I mean .

Please let me know if you need anything at all :=).

Pablo.

Hey ,
  Do you mean a bot that will buy if the price halves and sell if the price doubles?

There is a lot that can for wrong with that, we have been discussing reverse EMA for a while that does something similar (but better) with EMA indicators. Maybe something we can pursue when we get some free development time. Got a lot going on right now .

Pablo.

I hope we get some feedback from others but here goes me:

Bought in around 120's I believe, Held past the 170's plateau when everyone wanted to sell (see previous posts), then went to the peak and sold in the upper 180's.

I don't have the exact figures on me but that's more or less it. I'm test running really slow settings so others may have fared slightly differently.

Pablo.

P.S. I got bought in at the upper 170's again and now we're back to the 190's so it's been a good couple of days .

Hi Flyboy ,
   With EMA about 70% of your trades will be small loss trades and the 30% profit trades should cover any losses plus a decent profit. Now when there is extreme volatility you get what in mathematics are called "mean deviators" profit or loss trades that are way out of the expected average range. It is because mean deviators are inevitable in any market, especially one as volatile as Bitcoin, that we say EMA is a long term strategy; it takes a large number of trades (the more the better) to bury mean deviators and for the math behind EMA to kick in (Think: The Law of Large Numbers).

We have had this discussion in the thread before and people using our bot tend to come out ahead over the long term. In the short term, we acknowledge that trades like the one you experienced may happen because a small number of trades will tend to produce random results (be they profit or loss). You have to either decide to stick with it long term or not do it at all; this is not a "Get Rich Quick" scheme.

Please let me know if you need anything at all .

Pablo.

Looks like the Bitstamp issue was scheduled downtime, should be back online now .

Pablo.

Hmmm,
  That's strange, it looks normal on our end.

Could you please send me your console outputs? Or drop me an email at pablo@butter-bot.com and I will send you instructions on how to get the console outputs please.

Pablo.

EDIT: Anyone else having this issue?

Hi Ngin,
  No, you only need to reset if the issue has not resolved itself.

Pablo.

Bloodislav,
  I got your email and your data, we will email you when we have a solution for you; you should not be seeing any message as we are currently "all systems normal." It is likely a system specific issue.

Pablo.

***********************
BTC-E
**********************

We have tracked down the issue affecting pricing information on BTC-E and the issue should now be resolved. Otherwise, a simple reset should take care of it.

If you are running multiple instances of the bot and you are still having issues, please make sure that each instance has its own key for each exchange.

Do not hesitate to let me know if you need anything at all .

Pablo.

Hey Greg ,
  It's just the liquidity factor in the back testing. Mt. Gox has been highly liquid for several years and we can back test two years with a set amount of depth. Bitstamp was somewhat illiquid (for trading purposes) up to a couple of months ago, that's the main difference.

Please let me know if you need anything at all .

Pablo.

Hi Sean,
  Their API is terribly flaky right now, we are working on developing a solution for this right now and we should have something ASAP. Please bear with us a little while, we will have a solution as soon as possible.

Pablo.

Quick note about the Bitstamp settings:

The Bitstamp settings are back tested for 6 months, since we always say longer is more accurate, this deserves some explaining:

A year ago Bitstamp didn't have what we would consider the market depth necessary for trading, only about 6-8 months ago did Bitstamp really develop a deeper user and trading base so we consider that the more accurate result is to back test for that time period.

If anyone has any questions, please let me know .

Pablo.

Hey ,
  You have to decide how much you want to get out and at what point; it's not a trading decision though, keep that in mind. It's about what you are comfortable getting out and when.

After you have made that decision, you simply send the BTC to Coinbase and cashout, the cash should be in your account within 3 days.

Please let me know how I can help .

Paablo.

Hi Kuroth,
  My personal advice would be to get your BTC out of Gox and into BTC-E or Bitstamp; if I had to choose I would use Bitstamp, they should process your withdrawals quickly and effectively .

Also, if you are in the U.S., the fastest, easiest, and most reliable way to get your money out is Coinbase .

Please let me know if you need anything at all.

Pablo.

Hi GhostShirt ,
   Assuming you got the bot to run on your VPS, I think it's a great idea.

Please let me know if you need anything at all .

Pablo.

Hey Guys ,
   We heard back from Bitstamp and parts of their API have been intermittently down, they are working on fixing the issue so I think it should be fixed pretty soon. We still haven't heard back from BTC-E but the issue is also happening on their end, basically the API is not sending all the correct pricing data to our servers.

We are working with both exchanges to get this resolved ASAP. Please be sure to post or contact me directly if the issue persists.

I'm sorry for the inconvenience guys, but it's an exchange issue, not a bot issue; we will see about making butter more resistant to these exchange API failures however.

Pablo.

This is very strange...

It looks like the exchange API's aren't reacting very well to the volume. We will look into this now.

Pablo.