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July 21, 2016, 02:24:20 AM |
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We are putting together a very simple threshold YoBit trading bot and wondered if anyone had any input or if we were creating something that already exists.
If would simple be a GUI for some API functions. You would input your own API credentials, a low price and a high price, starting with just BTC vs USD. The program would regularly run the API info check and if the "last" sell price was higher than your inputs, it would sell, if lower, then it would buy. Nothing much to it. We would make it open source and free and only charge a small percentage fee if, upon completion(time based), you made a profit. The hardest part to figure is the fee system and we might just make it completely free. If we put our own credentials anywhere in the code for fees, then it cannot be open source. We cannot fairly monitor your YoBit BTC address and send payments based on that number, because you may be altering that number from other sources or activity. Maybe just a donation link or something.
The project is easy and simple with very basic coding. The hardest coding part is dealing with JSON within another environment, might just use Visual Basic so the soruce is easy for people to comprehend. Also thinking of doing the heavy lifting via a webpage hosted elsewhere, which is also an easy way to update and upgrade as time goes by, but that adds an expense that is not necessary. Updates would include adding different common trading pairs and eventually handling any pair that the site has on it. I personally make money trading based solely on thresholds, buy low and sell high. I do not understand any of the trading algorithms that other bots use and don't really care to learn. If anyone out there has experience with those trading methods and wants to help in the future, that is great, although this is not intended to make any more than a little money for us as time passes, it is just a project and any fees or charges would only be used to further the project with changes and perhaps a website, so there would not be funds to pay another programmer.
Any thoughts would be appreciated and please remember that any system that PROMISES to make money is lying. Overall, using thresholds I have made a good amount of money, but I have lost money too. Trading and investing is a form of educated and informed gambling and the prices of Cryptos are based mainly on rumors, promotion and people's opinions. They buy and sell what looks good to them and they trade based on false information sometimes. NEVER use money that you cannot afford to lose in trading Cryptos of any kind, no matter what someone says or what you think is going to work. Feed the family first and trade after that.
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