(Closed) Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform (Closed)

[fible1]

Pablo,

What's going to be new in Butterbot version 3? And when is it due to ship?

-NginUS

Hi Ngin ,
   V3's theme is most likely going to be altcoins, that should be the main change; other features should also make it in, like independent settings for each exchange.

We are working on hosting right now so we don't have a set ship date for V3, but we should be pushing it out pretty quickly after hosting comes out.

V3 will be a free upgrade for current subscribers.

Please do not hesitate to let me know if you need anything at all .

Pablo.

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[BigLad]

If I switch from Gox to BTC-E and I have PPC sitting there am I right in assuming the bot will ignore that and use fiat/btc only?

Thanks!

[fible1]

If I switch from Gox to BTC-E and I have PPC sitting there am I right in assuming the bot will ignore that and use fiat/btc only?

Thanks!

Hi BigLad ,
   Yes, your assumption is correct .

Pablo.

[mboehler]

How do you set different settings for the different exchanges?  I thought the settings you put in affected all of the exchanges at once.

Hi M ,
  You are correct; although the next full release will include independent settings for each exchange, the current one does not, however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

I hope that answers your question .

Please do not hesitate to let me know if you need anything.

Pablo.

How do you group the exchanges?  I'm still not clear on that.

[fible1]

How do you set different settings for the different exchanges?  I thought the settings you put in affected all of the exchanges at once.

Hi M ,
  You are correct; although the next full release will include independent settings for each exchange, the current one does not, however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

I hope that answers your question .

Please do not hesitate to let me know if you need anything.

Pablo.

How do you group the exchanges?  I'm still not clear on that.

Hi M ,
   I'm not sure I understand your question, what do you mean by "group exchanges"?

Under the current bot, all the exchanges you are running on use the universal settings from the "bot" tab. This will change to individual settings per exchange in the next release.

Please explain the issue to me a bit more and I will be happy to get back to you ASAP .

Pablo.

[pacojones]

*********************************
Starter Settings Announcement:
*********************************


Please do not hesitate to let me know if you have any questions .

Pablo.

I missed this by a few days because I did not have this thread in my watch list - my bot traded over the last couple of days using the 'old' settings and I see that these settings would have prevented a loss (sell low and buy high).  Can these type of announcements come out via email as well as posts to the thread?  nothing fancy, just an email saying 'look at this bitcointalk thread for updated settings'

Just a thought, thanks.

[mboehler]

How do you set different settings for the different exchanges?  I thought the settings you put in affected all of the exchanges at once.

Hi M ,
  You are correct; although the next full release will include independent settings for each exchange, the current one does not, however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

I hope that answers your question .

Please do not hesitate to let me know if you need anything.

Pablo.

How do you group the exchanges?  I'm still not clear on that.

Hi M ,
   I'm not sure I understand your question, what do you mean by "group exchanges"?

Under the current bot, all the exchanges you are running on use the universal settings from the "bot" tab. This will change to individual settings per exchange in the next release.

Please explain the issue to me a bit more and I will be happy to get back to you ASAP .

Pablo.

LOL.  I'm not sure what I mean either.  I was quoting you above:

however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

Basically, what I want to know is how to use the different values at different exchanges.  For example, how can I use one set of values for MtGox and another set for BTC-e and BitStamp?

Thanks!

[pacojones]

Hi,

I have a suggestion for the ButterBot developers that I feel would be a great benefit if implemented. It's automatic dynamic optimization, and here's how I envision it working.

The bot would be constantly backtesting in the background, in 1 month increments moving backwards by 1 week at a time, taking snapshots of the pricing curve & testing every possible options setting against that curve to determine the most profitable settings for that given snapshot, or preset of market condition. Then it would move back a week, & do it all over again- over & over.

Eventually the bot would have determined the most profitable settings to use in any given market condition, and could then keep on the lookout for a week's worth of pattern change, and switch the settings to match the most profitable preset for that week's market conditions as if they were going to continue all month.

Viola! Self optimizing bot.

What do people think?

-NginUS

NginUS,
   It's an interesting suggestion; we will be looking into it in detail, than you!

Please let me know if you need anything at all .

Pablo.

^^^^^^^^^^^^This is a GREAT idea!!  This would make the bot VERY valuable.

[fible1]

*********************************
Starter Settings Announcement:
*********************************


Please do not hesitate to let me know if you have any questions .

Pablo.

I missed this by a few days because I did not have this thread in my watch list - my bot traded over the last couple of days using the 'old' settings and I see that these settings would have prevented a loss (sell low and buy high).  Can these type of announcements come out via email as well as posts to the thread?  nothing fancy, just an email saying 'look at this bitcointalk thread for updated settings'

Just a thought, thanks.

Hi ,
  Sure, we can definitely try and do that for future announcements of this type .

Please let me know if you need anything else.

Pablo.

[fible1]

How do you set different settings for the different exchanges?  I thought the settings you put in affected all of the exchanges at once.

Hi M ,
  You are correct; although the next full release will include independent settings for each exchange, the current one does not, however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

I hope that answers your question .

Please do not hesitate to let me know if you need anything.

Pablo.

How do you group the exchanges?  I'm still not clear on that.

Hi M ,
   I'm not sure I understand your question, what do you mean by "group exchanges"?

Under the current bot, all the exchanges you are running on use the universal settings from the "bot" tab. This will change to individual settings per exchange in the next release.

Please explain the issue to me a bit more and I will be happy to get back to you ASAP .

Pablo.

LOL.  I'm not sure what I mean either.  I was quoting you above:

however the recommended settings are still valid if you trade by groupingthe low or high fee exchanges and ignoring the others.

Basically, what I want to know is how to use the different values at different exchanges.  For example, how can I use one set of values for MtGox and another set for BTC-e and BitStamp?

Thanks!

Ok, now I get it ,
    Until we launch individual settings for each exchange on V3 you can choose to trade on either BTC-E and Bitstamp (low fee exchanges) or only on Gox (High fee exchange); this is what I meant by "grouping exchanges" until V3 comes out.

Please let me know if you need any more details on this .

Pablo.

[fible1]

Hi,

I have a suggestion for the ButterBot developers that I feel would be a great benefit if implemented. It's automatic dynamic optimization, and here's how I envision it working.

The bot would be constantly backtesting in the background, in 1 month increments moving backwards by 1 week at a time, taking snapshots of the pricing curve & testing every possible options setting against that curve to determine the most profitable settings for that given snapshot, or preset of market condition. Then it would move back a week, & do it all over again- over & over.

Eventually the bot would have determined the most profitable settings to use in any given market condition, and could then keep on the lookout for a week's worth of pattern change, and switch the settings to match the most profitable preset for that week's market conditions as if they were going to continue all month.

Viola! Self optimizing bot.

What do people think?

-NginUS

We will definitely be looking into this, we just have to prioritize right now as we have a whole host of features in the pipeline but we do take this suggestion very seriously .

Pablo.
NginUS,
   It's an interesting suggestion; we will be looking into it in detail, than you!

Please let me know if you need anything at all .

Pablo.

^^^^^^^^^^^^This is a GREAT idea!!  This would make the bot VERY valuable.

[mboehler]

Ok, now I get it ,
    Until we launch individual settings for each exchange on V3 you can choose to trade on either BTC-E and Bitstamp (low fee exchanges) or only on Gox (High fee exchange); this is what I meant by "grouping exchanges" until V3 comes out.

Please let me know if you need any more details on this .

Pablo.

Oh okay.  That makes sense.  Thanks!

[flyboy]

I just read all 37 pages of this,  and after reading all of them, I'm not sold.

I would be more interested on hearing how many people have made or lost money with this and what the averages are.

Also, the average amount invested

[seanrarey]

I just read all 37 pages of this,  and after reading all of them, I'm not sold.

I would be more interested on hearing how many people have made or lost money with this and what the averages are.

Also, the average amount invested

"How much" is personal, I am not going to share that.  I will tell you that I am an experienced trader, and have tried every commercially available bot that has come out.  Butter is the best I have tried, and is up over 20% in about 2 months; this beats my "manual" trading.

Points I will make:

- Many will not have the "guts" to let the bot work.  They 2nd guess it, and panic when it buy's & sells @ a loss.  Left alone, with the right settings, it has made good money this year.

- The numbers seem best to me when used against GOX.

- Trading is about risk.  It is about trying things that have a good probability of working.  If you are "not sold" after 37 pages, trading might not be for you (this is the cheapest of the bots I have purchased).  Just saying

[dextryn]

Hey Pablo,

You need any beta testers for vs 3?

[fible1]

Hey Pablo,

You need any beta testers for vs 3?

Hey Dextryn ,
   We will be needing some Beta testers for the new hosting service, but that is still several weeks away. I'll add you to the priority list, when you see any post about a Beta test you are interested in, just let me know and I will make sure you get in:).

Please let me know if you need anything at all .

Pablo.

[razorfishsl]

The Manual and the software really needs a bit of work from a safety point of view........

Just some points:

1. the engine should be installed  DISABLED I.E 'Disabled Trading Engine' as checked
2. There should be an initial setup where FIAT reserve & Bitcoin reserve are pre-set to the MAXIMUM holdings of the account.

That way , when one is working thru the manual page by page, the bot does not go insane once the API keys are inputted.

It would also be 'nice' if the page related to API keys has a great big warning, about setting  the reserves BEFORE the API keys are inputted....

[fible1]

The Manual and the software really needs a bit of work from a safety point of view........

Just some points:

1. the engine should be installed  DISABLED I.E 'Disabled Trading Engine' as checked
2. There should be an initial setup where FIAT reserve & Bitcoin reserve are pre-set to the MAXIMUM holdings of the account.

That way , when one is working thru the manual page by page, the bot does not go insane once the API keys are inputted.

It would also be 'nice' if the page related to API keys has a great big warning, about setting  the reserves BEFORE the API keys are inputted....

RazorFish,
   I see your point. Basically you would like to have the bot on "pause" by default during initial setup. I think it's a valid suggestion, I will bring this up with the dev team.

Please let me know if you have any other suggestions, I am here to help .

Pablo.

[bruter]

Hi, Pablo

I would like to view profit measurement of BTC, not of USD.

[Loredo]

These are my thoughts:

I realize this is an EMA bot. Simple rules, simple executions. As you can see in my pic above.....

IF you use 1 hour settings (and above) AND there is a flash crash within 30 minutes... (meaning, it goes from where it was to the new bottom (lets say a 25% drop in price)...the bot reacts to it after the next update by initiating a sell order. Correct?

First I'll admit how I got here:  I've all but finished up watching or being concerned with the hardware thread; there's little more to see there from here on out, IMO.  I searched to see if you had left the forums, since I hadn't seen you on the BFL threads, and found this.

This is actually very much closer to my core business than bitcoins, so I'll make a couple of points, regarding EMA's and their use as trading signals.

First, an EMA "period" is actually a product of two dimensions:  sampling frequency and normalized parameter.  Example is easiest.  Say you want to construct an EMA with a period of 6 hours.  You solve for the parameter as \alpha = 2/(6+1),
if you are sampling once per hour.  

But if you sample every minute, then a parameter of \alpha = 2/(6*60+1) will give you a function that is virtually the same as the first, but with the ability to "respond" to signals every minute rather than once an hour.

Second, regarding EMA "signals."  There are two basic triggers used:  simple crossings of the lines, and so-called "directional bindings."  In other words, rules are "trade when price crosses ema", OR "trade when slope of function changes."  Except for "noise," "significance of the binding", or "price confirmation offset", these two rules are identical.  

This is because, by its mathematical construction, an EMA changes slope whenever a current price contributing to the function falls (rises) below(above) the current value of the EMA.

Just some off-top-of-head comments.