BtcAlgo: tool to place StopLoss and Trailing StopLoss (NEW!) orders on BTC-E

[btcalgo]

Hi everyone,

I'd like to introduce my small and simple tool which helps you to put StopLoss algo order on BTC-E market:
http://www.btcalgo.com/

If you do not now what is StopLoss orders and why you might need it please read following (copied from btcalgo.com):

So what is StopLoss order and why you might need it?

Imagine following situation. You have your BTC coins (or any other currency supported by btc-e.com). You would like to keep your coins to make more profit for example. But on other side price for your coins might fall down while you are away from your PC (sleeping, working, etc.) and you will make a little or no profit at all. So what you need in this situation is to put order on market when price reaches some threshold value (it’s called stop price). This is what called StopLoss algorithm.

Let’s see it with an example. You’ve got 1 BTC and current market price is 800 USD.  If you put sell order on market now you will get 800 USD. You expect the price for BTC to grow up. So you do not want to sell it now. But to be safe from market crash you can use BtcAlgo and put StopLoss order with stop price 750 USD for example. So if price for BTC reaches 750 USD BtcAlgo while you are away it will send new sell order on market.


You are welcome to ask any questions about this software and I'll be happy to answer

[btcalgo]

I’m planning to release soon a new version of BtcAlgo which will include two new major features:
    1. Trailing Stop Loss algo orders
    2. Save/Load of your orders (Stop Loss / Trailing Stop Loss)

I hope you will like it and appreciate your feedback.
Please put it here or write an email to support@btcalgo.com

Now more details about new features (same could be found here: http://www.btcalgo.com/features/).

Trailing Stop Loss orders
They are similar to simple Stop Loss orders but with one important difference. They are following the market!
Let’s look at it with numbers.
Let the current market price be 600 USD for 1 BTC. And you put in BtcAlgo Trailing Stop Loss SELL order with stop price 580 USD and order price 570 USD. So if market will go down and reach 580 USD (you stop price) BtcAlgo will send order with order price 570 USD to BTC-E. So in this part it is the same behavior as simple Stop Loss. But if market will first go UP then Trailing Stop Loss will adjust stop price / order price. For example if market price will go up to 680 USD (for example) you stop price will be 660 USD and order price 650 USD. Then if market will go down from 680 USD your order will be triggered at 660 USD (new stop price).
So as you see you may think about Trailing Stop Loss order as "one way trigger": when market goes up it moves stop price up as well. If it goes down – order is triggered when stop price reached (i.e. BtcAlgo sends it to BTC-E).
Same logic is applied to BUY Trailing Stop Loss orders but in reverse directions.

So it fact as you see it helps you to sell at the top and buy at the bottom


Save / Load your orders
If you have several running orders it’ll be not very convenient for you to put it in program each time you started BtcAlgo. So Save/Load functionality will be added.

PS: Let me know if you like it (especially Trailing Stop Loss orders). It’ll help me to release new version sooner.
And visit www.btcalgo.com and try existent Stop Loss orders.

[networthsigns]

Good to go. Keep improving it. You may also ask people to share their ideas, issues they get with btcalgo and the ways to improve it.

[btcalgo]

I’ve been asked about security of BtcAlgo. I.e. “How users could be sure that their key/secret they are supposed to type into BtcAlgo won’t be stolen. Is it only about trust?”  

That’s an important question and I’d like to post answer here as well.
It’s not just about trust. You can easily protect yourself. All you need is to correctly set up standard windows firewall.

You need to create new “outbound rule” for BtcAlgo in firewall settings and allow it to connect only to:
1. IP of btc-e.com: 141.101.121.193
2. IP of online.license4j.com: 182.50.155.53
It’s license manager. And in fact connect is not required for already activated program or for trial license.

I think it worth to put detailed instruction to btcalgo.com

PS: Actually that’s an advantage of desktop programs. With web based applications you won’t be able to protect yourself. Only trust.

[btcalgo]

Hi Everyone,

New version of BtcAlgo (btcalgo.com) has recently been released!
Trailing StopLoss algo was added to new version.

Please go to btcalgo.com/download and try it!

Also to the first 5 people I’ll provide full version (unlimited runtime and orders number) for free.
What I need from you – try it and provide your feedback.
Let me know if interested in it


PS: what is trailing stop loss (copied from http://www.btcalgo.com/features/#TrailingStopLoss)
Trailing StopLoss algo is an extension of simple StopLoss algo which allows you to follow the market.
Goal is the same as for simple StopLoss algo. But this algo follows the market if it moves up in case of sell algo and when it goes down for buy algo!

Example with prices:
Let’s consider sell Trailing StopLoss BTC/USD order with stop price 750 USD, order price 740 USD, offset = 10 usd. And current market price is 760 USD.
So this means that once market reaches 750 USD BtcAlgo will send new BTC/USD order with price 740 USD. But if market prices will go up first (for sell order, from initial 760 USD) then stop price/order price will go up as well for Trailing order.
I.e. if market price moves from 760 to 800 new stop price will be 790 USD (market price minus offset) and new order price 780 USD. And if from 800 USD market will go down and reaches 790 USD then BtcAlgo will send new sell order to market with price 780 USD.
The same with buy Trailing StopLoss orders but in opposite directions.

[1978280z]

Just ordered a license, this is exactly what I was looking for. Trailing stop loss looks great!  Helps with all the PnD going on.

[btcalgo]

Just ordered a license, this is exactly what I was looking for. Trailing stop loss looks great!  Helps with all the PnD going on.

Thank you for purchasing BtcAlgo!

Please note that new version has just been released. It includes:
1. New pairs recently added to btc-e: BTCCNH, BTCGBP, LTCCNH, LTCGBP, USDCNH, GBPUSD
2. A few internal improvements to make BtcAlgo more robust

I recommend you to download the latest version: http://www.btcalgo.com/download/