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I just noticed my post didnt show up properly.
I was trying to say: I think you'll find that its an automated bot using a grid trading strategy. What it essentially does is overlay a pre-set grid of buy and sell orders to shave margins from price movements.
Shout me up on irc if u wanna know more about bots.
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Any idea what might cause trading like this?  Alternating buys and sells, steadily decreasing volume per trade. I don't think I've seen anything quite like that before. |
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I got a free one from Gox too 2-3 months ago. They sent it straight from Japan in some cool Japanese envelopes with a crazy amount of tickboxes on it. (all the customs declarations)
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Tygrr trading arb bot on GLBSE was recently shut down. It was a pretty serious effort from Chaang Noi but he admitted the opportunities were too few and far between to be successful.
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Options would be good if they are done correctly. They would provide a proper hedging mechanism to buy time to sell the coins in an efficient manner.
However, options contracts are only as good as the counterparty.
Markets are being very efficient today. It's over the weekends where the bias is lopsided to the downside. Sellers can add liquidity over the weekend, but buyers cannot!
It would actually be more stable for bitcoin if the markets would close for the weekend. People are used to the 24/7 operation, but the fact is it puts downward pressure on the price if only one side of the trade can put up money.
Two questions. 1. Will you offer a discount for large buy orders? If so what is the discount. 2. Ever thought of creating a subsiduary of bitpay to offer options? Sounds like you have a big enough stake in the market to offer such things. This will boost your payments business being able to guarantee a certain payout at a small fee. |
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Hey Chaang,
I've been following for a while with interest, I too am interested in all the bots out there. I'm not sure if intersango has their own arb bot. I suspect not as it is a conflict of interest (admittedly the only people who would know are the team members). There are a couple of scalping bots on intersango as there is effectively a 'liquidity rebate' which will give you a very low fee if you provide liquidity.
I believe they are performing whats known in the stock market as 'front running'. Its illegal on the real stock market, however its not hard to do in bitcoin as the gox price usually dictates the direction. Given the correct maths, its easy for them to scalp high volume at a small profit each time.
Good scalping will essentially help arb the market naturally.
I admire your efforts Chaang.
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Is bitstamp USD only? It says it offers Euro and GBP withdrawals too?
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Is chart reading much different between forex and individual stocks? I ask as I'm keen on learning programmatic chart trading however from what I've read on various forums, a lot differs between forex and individual stock.
What does bitcoin follow more closely?
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It's a real shame Andre didn't handle this better from the outset. Given the relatively small total amount involved, it might have been possible to put together a rescue package which ensured users had most of their funds returned and Andre was able to walk away from WBX with no further legal liability. Andre was offered that option but chose not to respond to it. I suspected that might have been the case. Good to have it confirmed, though. I believe a number of people offered to help offer assistance or even take over the exchange. I know that for a fact as I was one of them. |
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It would be trivial to update this chart, but also probably time-consuming. If there is enough demand for it, I'll see what I can do.
I wouldn't mind seeing an update to this chart. Maybe with a break in the Y axis so it starts from 30%... or even 50%. It loses a lot of meaning when all you see is the yellow from all that goxxing. |
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A big chunk of the dev work has been spent handling all the edge cases coming across the Gox WebSocket.
What do you mean by edge cases? Error handling? I was impressed at the implied exchange rates too. I've seen a lot of currency arbitrage opportunities by monitoring those on a casual basis and would love to create something similar for my own trading use. I'm assuming for each rate, you calculated it using the BID price in one currency and the ASK price on the other? |
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I suspect he has gone again. I have not heard anything via my lawyers despite his asking for contact details (and my providing them), and I don't think he is interested in providing any answers to some quite reasonable questions, let alone meeting any of his obligations.
That leaves me in an awkward position. I have the remaining Bitcoin assets of the exchange, but neither the authority nor the necessary information to distribute them to their rightful owners. i wouldn't rush it. you don't want to be in a situation where you've distributed funds and then find out 3 months later that it was done incorrectly. Thank you payb.tc, that is a very sensible comment. In other liquidations, there can be a liquidator appointed, and that can be from the business or from the creditors. A file of creditor claims would be made, and paid on. For now, I'm comfortable with Chris just holding onto things. If he is agreeable, we could provide evidence of claims over the next three months (say to 1 August) and if nothing else happens before then, he would distribute on that basis. I would even be comfortable contributing some coins to him for his efforts/troubles. (does the database scrape you have include client contact details?) I'm also comfortable with Chris managing the resolve of this. I've also offered a donation for his continued efforts in the resolve of this. Much less can be said for Andre's efforts in both managing this situation to resolution and providing clear updates. |
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Great work on this. What did you use to code it up? Can you share any details about the dev work that went into it?
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Regarding R for trading programmatically, it depends on what you're after. I use Mathematica and R (depending on what's easiest for the task) for pricing and decision making over models but orchestrate the actual trades using other languages.
Great tutorials, it seems pretty powerful. Especially when paired with something like http://www.quantmod.com/I have various scripts to place orders already in PHP, I guess R should be able to place url calls based upon its own statistical analysis. Mathematica is licenced software by the looks of it. How do the languages hold up for live price feeds? Can they crunch on the fly when given a data feed, say from mtgox? |
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Thanks FreeMoney, thats the one.
What are the bars on the right? Looks new.
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Its made by someone on this forum, looks like mtgoxlive.com but its much better...?
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I believe the user pirate, is using investor funds to manipulate the price and volatility. In his post, he drops subtle hints about how he does this. (using large walls either side of the spread to control the price)
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I'd love to have a play with R and learn the ropes.
Can you recommend any guides? I have a reasonable amount of programming experience so any tutorials or examples would help.
Also, what's your take on using R to programmatically trade? Thumbs-up or thumbs down?
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