Seems logical. Will the bot also be taking into consideration the curves associated with BTC/LTC, etc in addition to LTC/USD? Maybe sometimes it would be cheaper to buy LTC with BTC than USD, and vice versa, I don't know. Either way, I'd want to be able to set limits on how much USD &/or BTC the bot could spend on LTC.

But that amount I set would have to allow for gains due to the bot trading LTC, too.
For example if I say to the bot don't spend more than $100 USD, or 0.3 BTC, and by trading that amount it earns $165 USD, or 1.6 BTC, it should be able to trade with all that it has earned, and not be limited by my settings anymore. See what I mean? How can you do that?

@ Pablo

I took notice yesterday when trying to build a B-Bot simulator in excel, that your bot actually takes 3 "update cycles" to actually execute an action. I have to ask why? Shouldn't it execute (ideally) when the second update cycle takes place? Why wait until the third cycle?

I used to think two things about B-Bot which were dispelled when trying to build my own version in Excel.

A) The idea that B-bot will act immediately if you set the first pair of thresholds to 0. Not the case. It actually still uses it, and there doesn't seem to be a way to disregard the first pair of threshold values. (Not a problem, but it is something worth knowing if you are using very long update periods (i.e. 1 hour 2 hour etc..)

B) This means that even if B-Bot noticed a correction in the market at 1 hour intervals it won't actually execute anything until 3 update periods. (3 hours) At 2 hours it should take 6 hours and this is only 1 way.

So between a buy and sell order, if you have your settings at 1 hour update intervals, then B-bot has a Buy and Sell period of about 6 hours. At 2 hours it should be double that. That was kind of alarming to figure that out. It seems like a pretty long turn around period...

(1 hour, Buy threshold 1 check, YES/NO)
(1 hour, Buy threshold 2 check, YES/NO)
(1 hour, Buy Execute, YES)

(1 hour, Sell threshold 1 check, YES/NO)
(1 hour, Sell threshold 2 check, YES/NO)
(1 hour, Sell Execute, YES)

=======[Discount Code for Butter (10% off)]=========

https://butter-bot.com/?r=f5a17f5b

Use my referal code cause' im sooo cute!  



You'll get an extra month free, it's all on me!

Wondering what everyone uses to backtest?  When I set the charts at bitcoincharts.com to EMA 9/20 and hourly interval over the course of the last 10 days.  I only see ONE instance where, at those values, the bot should have sold short and possibly made a slight loss.  Other then that, the only other time I see a cross over was on Nov 10th with the correction that would've made some good profits.

http://www.bitcoincharts.com/charts/bitstampUSD#rg10zigHourlyztgSza1gEMAzm1g9za2gEMAzm2g20zv

Pablo,

When altcoins are released, how will the bot know how much of the single pool of fiat to spend on each pool of different coins?

Would I suddenly find myself with all altcoins & no btc one day?

Do we get to assign percentages of the fiat pool for each altcoin?

How does the bot manage that?

Pablo,

I was thinking about if you were to add the 'don't trade at a loss' feature to the bot, it ought to be able to be switched on / off so that those of us who don't want to use it don't have to. Also so we can see for ourselves how it pans out in backtesting when its on or off.

It would be nice if the devs could code a smart method that didn't hurt profits in backtesting. It would be a nice feature to have, as I've seen in backtesting the bot be responsible for thousands of dollars in losses only to be saved by a price rally later. I think there ought to be a way for it to be smart enough to not have those losses.

Hi Pablo.

Have you considered buying BitMit?

 

Thanks for that MicroFi but despite reloading/restarting bot and browser I can still see the warning message and no info about my finances on Mt.Gox ...    On the other hand brief look at the logs doesn't indicate any problems (I'm not a coding person though).

I think I'll move my coins to BTC-e, just in case this rally(?) ends abruptly (will it ever?  )   
 

Hi Pablo,

I hope that you are considering all possible scenarios because from a security point of view this can be easily become a nightmare.

Nobody will be able to steal money/BTC, however the potential for wiping out accounts because of intentional misconfiguration of the BOT parameters is huge.

What would be the details on how to interact with the BOT in a hosted environment? RDC? Teamviewer? A web application?

Hi all,

I'm a new user to Butter Bot, I've been running the demo for the last few days and reading the various conceptual arguments about bot profitability vs B&H etc... I'm now in the bizarre position of actually hoping for a BTC price crash so I can buy back low, assuming that the bot gets me out in time!
All in all, I think the bot is for me and I'm looking forward to being able to use it with LTC/USD also.

Just wanted to pipe in though that I too would love to see a 'don't sell at a loss' feature.
It seems to me that if you're able to specify that the bot shouldn't sell below it's last purchase price, then you're basically on 'B&H plus extra profits during market volatility'.

Sure, the price could tank. If you're lucky, the EMA settings you have got you out of BTC in time and you can buy back at a lower price and profit as the price climbs back up - but if not, you've basically switched to B&H on those coins until the market recovers.
Since people are arguing over whether B&H is a better strategy, and the suggestion of a split between the two seems sensible, this looks like an ideal scenario.

We're assuming of course that the overall trend is up. But if you're B&H, then you're assuming that already... and if the price never goes back up, well you'd have lost with B&H anyway!

Of course, if the price has really tanked and takes months to recover, you'll be losing out on all the profit the bot would be making on a lower priced, but still volatile market over that time - but if the feature's available then you ticks yer box and you takes yer chances.

If the feature is planned, I'd be interested to know how it'll work - If I find myself locked in to BTC at a higher price because the bot didn't spot the downtrend in time to get me out at a profit, my thinking is that I'll probably want to pump some more USD into the account and have the bot pick up some more BTC when it spots the next uptrend. I'd want the bot to remember that X amount of BTC can't be sold below $Y, but the rest is available for it to trade with.

From a development point of view, I can see how that would get complicated. You'd need to track the amount of BTC sold and at what price. Presumably that means the trades would have to be recorded to a database and have some kind of open / close position. A trade of X BTC opened at $Y. Current price below $Y so trades can't be used to 'close' X BTC until Y > the price of BTC at the point of the X trade.
Trades instead 'open' new records and close themselves until the $Y is reached.
The point being you wouldn't be able to just look at the last trade.......

I'm digressing - just wanted to say hi.

I understand, that's why I would like to run 2 separate butterbots . One with the "Do Not Take a Loss" command (I hope you will include it soon) and another instance with the "normal" trading values.
 By the way - another suggestion : to be able to run 2 instances - bots with a single bitstamp account and with a single chrome.

Thank you for the great quick reply. Every indication seemed to point that things were running, so I'll just let it roll for now and see where things go.

Thanks, I've been running Butter Bot since 10AM or so (~4 hours) and not a single trade has executed. Normal?

Is there a way to set the butterbot to never sell at a loss ?
 For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

Hi,

I just changed from the recommended settings for BTC-e to these settings that were kindly posted here for us which have a much greater profit than the official settings do. I've even managed to squeeze an extra 1000% out of it by playing with tick offset, so I'm happy with it & thanks for posting.

I'm concerned however that with the larger trade frequency set I may miss opportunities which happen quickly due to the upcoming Senate hearings. Is that what happens with the bigger values there, or am I mistaken?

How will these new settings handle flash situations in the market? Will they miss out?

I guess maybe I'm not understanding how the bot pays attention to the market, if its eyes are open looking at the price all the time, or if it just looks now & then, in which case it could miss alot. Could someone explain that to me please?


Thanks.

Pablo,

'd like to inquire about how I can do the folllowing. I'd like to give to some family members for Christmas,  a fully functional  bitcoin trading system, such as I have myself.

I would be hosting their instances in each their own VM  which would have wallet, butter bot, OTP software installed.

I'd set up accounts for BTC-e, and deposit $100 to start with.

I'd create Coinbase accounts for them so the can liquidate to their own baks.


My question to you is, when I'm buying all these 1 year subscriptions, using my referral code over & over again probably won't work? Would my family & I be  eligable for as many referral bonuses as there are gift bot purchases?

Well it'll go sharply.

Up OR Down. lol.

Pablo, my graphs disappeared for some reason. I restarted the bot and everything, they simply aren't showing.