I am looking into buying butter. Right now I am using the demo. Please explain this to me:
EMA diff is at -0.296% (1 BTC = 118.166 USD) at btce --- Sept 6
EMA diff is at 0.256% (1 BTC = 118.2 USD) at btce -- Sept 8
How does this make money?
If I had 1 BTC and it sold for 118.116 and then I bought at 118.2, would I not have less than I had before?
Hi Bruce  , I'm guessing you posted the trade prices of your last two trades? Like has already been stated, EMA will likely generate about 70% small loss trade (like the one above) and 30% profit trades that would account for all the small losses plus a healthy profit. Also, as back testing will show, you need to run the bot for at least a couple of weeks on uninterrupted, un-interfered with trading to let the math kick in and get rid of mean deviators. Think "The Law of Large Numbers" and you will get a good idea of what I mean. Back testing and community response is a better gauge of profitability than short term testing . Please do not hesitate to let me know if you need anything, I am here to help . Pablo. |
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Different Request for Feedback
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Friends,
We have received another interesting suggestion. A couple of customers have suggested a bot that would be similar to Butter-Bot but which would trade stocks on sites like Bitfunder based on different analysis principles. It has been suggested to us that there is high volatility on these stock sites and that this would be a useful tool.
We would appreciate feedback on this idea as well, is a stock trading bot something that interests the majority? What kind of features would you like to see in such a bot?
Thank you.
Pablo.
On the one hand this would indeed be interesting, but considering the lack of liquidity of the BTC stock markets, I, personally, would be very cautious with automated trading. Also it is worth noticing the spread (typically ~5%), which I believe in large contributes to the (perceived) volatility. I would much prefer that efforts and resources be directed at expanding functionality/algorithms on the existing markets. E.g. crypto-to-crypto trading, including the possibility to trade more than one pair of currencies simultaneously on a single exchange. Just my 2 satoshis I 2nd this. Butter is the best cryptobot I have found, but there is so much that can be added, I too vote to keep resources toward improving it; particularly the ability to trade the alts and arbite between exchanges. Hey , Alts will most likely be a part of the V3 release if nothing big comes up . We are asking for feedback because we would like to develop more high quality products for your profit and enjoyment. Please note development on Butter Bot will continue just as it has been (we have the next three versions already sketched out) . Pablo. |
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Different Request for Feedback
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Friends,
We have received another interesting suggestion. A couple of customers have suggested a bot that would be similar to Butter-Bot but which would trade stocks on sites like Bitfunder based on different analysis principles. It has been suggested to us that there is high volatility on these stock sites and that this would be a useful tool.
We would appreciate feedback on this idea as well, is a stock trading bot something that interests the majority? What kind of features would you like to see in such a bot?
Thank you.
Pablo.
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Hi Chanberg , We suggest starting out with 250-300 USD and adding to that incrementally as you get a feel for the bot. Please do not hesitate to let me know if you need anything . Pablo. Thanks Pablo, appreciate the advice... Hope it goes well... Oh yeah is it possible to extend my trial to a full week? Because its only been a day, and I feel like it needs more time for the bot to actually work. I am committed to actually paying for the bot once I see how it operates in a weeks time. Just want to be sure in a sense. Let me know thanks Danny Danny, Feel free to download another demo . Pablo. |
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********************** Request for Feedback ********************** Friends, We have gotten many private requests for different products; the most common one has been an Arbitrage Bot. We would like to start a discussion on what features interested customers would like to see in such a system. We believe we could first start development of an Arbitrage Alert System, a bot that alerts the user to Arbitrage opportunities between different exchanges, and then grow the system as we have done with Butter-Bot. So we need your feedback on what you think such a system should look like and what tools would make it useful to you. Please keep in mind that alternative trading strategies, like high frequency trading, etc. are part of Butter-Bot development; right now we need feedback on what we hope can be an entirely new bot with it's own unique tools and features. We look forward to your thoughts and ideas; please do not hesitate to contact me if you have any questions . Pablo. |
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just signed up for the free trial, and I am wondering how much BTC I should have to start out with... Enough to buy or sell BTC I am guessing? or is there a minimum I need... like 1 BTC?
Dont want to deposit 2 BTC's only to lose everything cause of a glitch haha
Hi Chanberg , We suggest starting out with 250-300 USD and adding to that incrementally as you get a feel for the bot. Please do not hesitate to let me know if you need anything . Pablo. |
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That's what the problem is. I get a little hazard symbol that says "API: Connected. BTC-e: Disconnected"
What setting am I missing?
Generally it's one of two things, your API key is entered incorrectly, or you did not grant the API key "Trade" and "Get Info" rights. Please see the Butter-Bot manual: File "Butter-Bot-Manual-Release.pdf"Please let me know if this doesn't work . Pablo. It was the API key. Apparently I fail at copy and paste  . |
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That's what the problem is. I get a little hazard symbol that says "API: Connected. BTC-e: Disconnected"
What setting am I missing?
Generally it's one of two things, your API key is entered incorrectly, or you did not grant the API key "Trade" and "Get Info" rights. Please see the Butter-Bot manual: File "Butter-Bot-Manual-Release.pdf"Please let me know if this doesn't work . Pablo. |
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I just want to make sure I have butter bot setup correctly. Its been running at the recommend settings on btc-e for the past 18 hours. It still hasn't traded. Is that correct? (I also +1 for adding LTC support ) Hi, Yep, Sean is right; the bot has been holding a "sell" command for the past 3 days or so since the market is in a downturn. Please let me know if you need anything . Pablo. I just start butter bot last night, but it never sold the coins in my btc-e account. Is that because I started running it in the middle of the sell command and not at the beginning? It depends on whether there was a new trade signal. The best way to see if your bot is working properly is to observe the "Checkmark" in your bot interface menu:  Please let me know if you have any questions . |
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I just want to make sure I have butter bot setup correctly. Its been running at the recommend settings on btc-e for the past 18 hours. It still hasn't traded. Is that correct? (I also +1 for adding LTC support ) Hi, Yep, Sean is right; the bot has been holding a "sell" command for the past 3 days or so since the market is in a downturn. Please let me know if you need anything . Pablo. |
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I'm testing Butter Bot trial right now with BTC-e, so far so good. I have very high hopes for this Bot. Quick Question, do you have any thoughts of making this Bot work with Cryptsy, I would be totally sold if I could use it to trade Alt currencies.
Hi Bitezze , We have plans to let the bot trade with alt currencies on BTC-E with the next full release. We have been getting an increasing number of questions about Cryptsy; we will look into this in greater detail and see what we can do about it, it looks very interesting. Please let me know if you have any questions or suggestions about this . Pablo. |
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Question about observed behavior... Today when Butter triggered a buy at BitStamp, $90 was left in the account. I have never seen butter leave money behind like that before... any idea what would cause this? No reserves are set. Certainly not a big deal, just wondering why... Hi Sean , No, that's not normal behavior We are tracking this down and I will let you know how it develops. I'm sorry for the inconvenience. Pablo. UPDATE After failing to trade completely on Bitstamp yesterday, Butter did not trade at all on a sell signal last night. Hi, Please do the following: 1. Go into the "manage extensions" page. 2. Enable "developer" mode by checking the "developer" box in the upper tool bar. 3. Go to the extension and click on the "generated_background_page.html" link. 4. When the new window opens, choose the "console tab" 5. Copy and paste the info there to pastebin.com as close to the time of your issue as possible and send it to me at Pablo@Butter-Bot.com. This will help me resolve your issue much more quickly . Pablo. |
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Question about observed behavior... Today when Butter triggered a buy at BitStamp, $90 was left in the account. I have never seen butter leave money behind like that before... any idea what would cause this? No reserves are set. Certainly not a big deal, just wondering why... Hi Sean , No, that's not normal behavior We are tracking this down and I will let you know how it develops. I'm sorry for the inconvenience. Pablo. |
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Friends,
This round has closed, I appreciate everyone who participated and I would like to welcome all new equity holders on board!
Please do not hesitate to contact me if anyone needs anything.
Pablo.
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I was wondering if you ever thought of Firefox support. I have always used Firefox and would prefer to use that browser instead of chrome. I don't trust Google Hey Jimmut , We are thinking about a standalone version at some point in the long term, no plans to expand outside of Chrome in the short term as we are prioritizing features right now. It is an interesting idea though, to expand platforms, food for thought . Pablo. |
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PM sent  Answered . |
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Oh okay. Well i just put in all the settings and stuff for gox. And did the test run with ur recommended settings 0,0.25 which seem to be the best over long run.
Well, its not placing any orders. Does the bot take time to start placing orders? And do i have to leave the browser open at all times when i want it to keep trading?
Hi , The bot trades on trends and market changes so it is normal not to see an immediate trade, you may not see one for a day or so depending on where the market is at (on volatile days you may see more). The bot right now is holding a "sell" command so you will be holding fiat. Please keep in mind that less trades are actually better as it means the bot has identified a real trend and that the trend is happening. You do need to keep the bot running on Chrome for it to work. We are discussing a hosted version, if this is something that you would prefer, please post about it on the forum so that we may garner feedback on this . Please do not hesitate to let me know if you need anything. Pablo. Thanks for a detailed answer. I like the bot so far, i would like it more if i actually see a profitable trade happen in during my trial period so i can buy the bot with confidence. The hosted version that you speak of, how is that different from what we have already? If the bot is able to trade with the browser closed, then why use a hosted version? I don't understand the difference. Sorry, I was unclear, You need to have the browser open and your computer on to allow the bot to trade; that is the main criteria. I'm not sure how many trades you will see in the next 3 days as the market is trending, but if you need some extra time, please let me know. The trial is intended to let you familiarize yourself with the tools the bot offers, profit, as back testing will show you, will usuall take a period of time to accumulate because it takes several trades to get rid of mean deviators and let the math do it's job; think "The Law of Large Numbers," and you have a pretty good idea what I'm talking about . Please let me know if you need anything . Pablo. |
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Ok, we are down to to the last of the equity for sale, anyone still interested please drop me a PM.
Pablo.
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Oh okay. Well i just put in all the settings and stuff for gox. And did the test run with ur recommended settings 0,0.25 which seem to be the best over long run.
Well, its not placing any orders. Does the bot take time to start placing orders? And do i have to leave the browser open at all times when i want it to keep trading?
Hi , The bot trades on trends and market changes so it is normal not to see an immediate trade, you may not see one for a day or so depending on where the market is at (on volatile days you may see more). The bot right now is holding a "sell" command so you will be holding fiat. Please keep in mind that less trades are actually better as it means the bot has identified a real trend and that the trend is happening. You do need to keep the bot running on Chrome for it to work. We are discussing a hosted version, if this is something that you would prefer, please post about it on the forum so that we may garner feedback on this . Please do not hesitate to let me know if you need anything. Pablo. |
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I just installed the trial version of the bot.
What is the limitations on the trial version?
Hi , EDIT: The limitation is that the trial runs for 3 days, that's it . Please let me know if you have any questions. Pablo. |
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