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

[chanberg]

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

[seanrarey]

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

In my opinion, your money is safer in Butter's care then it is if you are trading manually.  EMA is one of the safest ways to trade.

That said, no trading should be done with money you cannot afford to lose.  If you can afford it, 1BTC is a nice starter, and an easy way to see how trading affects it.

[b!z]

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

In my opinion, your money is safer in Butter's care then it is if you are trading manually.  EMA is one of the safest ways to trade.

That said, no trading should be done with money you cannot afford to lose.  If you can afford it, 1BTC is a nice starter, and an easy way to see how trading affects it.

would the bot be able to control losses to make sure not too much is lost?

[seanrarey]

Yes, it does.  That is the very nature of EMA.

[fible1]

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.

[fible1]

**********************
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.

[chanberg]

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

[fible1]

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.

[chanberg]

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.

haha, thanks

[fible1]

*****************************
Different Request for Feedback
*****************************

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.

[Grinny]

*****************************
Different Request for Feedback
*****************************

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.

This feature would be totally awesome! I'm more than only interested!
Litecoinglobal.com and btct.co share the same design and API (since they are both operated by burnside), so maybe you wanna take a look into these two.
They seem to be the ones with highest volume i think - with Bitfunder.

[msb8r]

*****************************
Different Request for Feedback
*****************************

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

[seanrarey]

*****************************
Different Request for Feedback
*****************************

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.

[fible1]

*****************************
Different Request for Feedback
*****************************

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.

[seanrarey]

Add the the list of wonderful additions to butter that I am hoping for are the ability to test against data from different exchanges (not just GOX), and the ability to tune the settings on the different exchanges individually based on these tests.

[jimmut]

I would like butter bot to support the alt currencies on BTC-E and maybe since their are so many it can find opportunities by trading in one verse any other. Like maybe buying bitcoins from USD then buying litcoins with the bitcoins verse just buying litcoins with USD.Which ever one has more volatility or it detects an opportunity in a certain one.  I hope you know what I mean I had a hard time explaining it  I love butter bot but I can see it needs volatility to really shine. I was interested in the virtual stocks also but if they don't have much volatility I don't know if that would be much better like seanrarey said it may be better to direct all your efforts here??

[brucegregory]

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?

[seanrarey]

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?

Do the suggested reading of the journals by Goomboo, and understand EMA.  The rules and the principal will make you money... _is_ making me money like no other system I have tried.  But, rule of thumb with EMA is that approx 70% of your trades will lose money.

Do the reading and understand the system... or, turn butter loose & let him make you money...

[Pangia]

*****************************
Different Request for Feedback
*****************************

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.

Hi Pablo,

First, a great big thank you to you and your dev team. You folks have created a great product.

In regards to your request for feedback --- while an arbitrage bot could be very profitable, the issue that we face is the extraction of the funds to place them back into another exchange to permit the arbitrage to work.  If we look at MTGOX for example, the time frame for withdrawing funds could be forever and recently there have been several posts about not being able to withdraw BTC's for a variety of reasons.  The arbitrage bot would be an alert system and therefore the actual moving of BTC's and funds in an out of exchanges would be up to the customer (time consuming). The profits would also be eaten up (factoring in trading fees and other fees associated with the depositing of funds into financial entities to get the funds into a BTC exchange of course a great arbitrage spread could make up for that, but how often would those opportunities surface).

I believe that the best opportunity in terms of a money maker might be the 2nd suggestion ---- trading stocks on Bitfunder.  There is a great deal of volatility on that exchange and the bot would function on that exchange, like the current Butterbot functions on a designated exchange. There won't be a need to move funds/BTC's in and out of an exchange to another exchange as in the arbitrage idea.

You know that I've always been asking you to create a bot to trade stocks on a financial exchange (DOW, Nasdaq, etc.) and a bot to trade on Bitfunder is an EXCELLENT start.

I'd would like to be your first customer for the StockBot

Thanks and keep up the great work.

[seanrarey]

In regards to your request for feedback --- while an arbitrage bot could be very profitable, the issue that we face is the extraction of the funds to place them back into another exchange to permit the arbitrage to work.  If we look at MTGOX for example, the time frame for withdrawing funds could be forever and recently there have been several posts about not being able to withdraw BTC's for a variety of reasons.  The arbitrage bot would be an alert system and therefore the actual moving of BTC's and funds in an out of exchanges would be up to the customer (time consuming). The profits would also be eaten up (factoring in trading fees and other fees associated with the depositing of funds into financial entities to get the funds into a BTC exchange of course a great arbitrage spread could make up for that, but how often would those opportunities surface).

Not true.  As someone who does it manually, there is more profit in arbitrage then there is in trading right now; it is just time consuming and a lot of work.  A bot would change this.

Alts are what makes arbitrage fast & easy.  You will notice that exchanges that support alts stay pretty close.  As they drift apart, there is too much profit to be made through arbitrage using alts for them to stay that way long.  This is healthy for the market, and very profitable for those with arbitrage bots.  _I want one!_

Based on GOX's announcements, their next generation trade engine will support at least LTC.  This opens a massive opportunity for arbitrage profit, and will cause GOX's price to quickly equalize with BTC-e & the other alt-supporting exchanges and stay there.  Those with a bot ready & waiting for this stand to profit nicely, and the volume difference between GOX and the others will mean profits will continue as arbitrage brings the rest of the exchanges into step with GOX as it moves up & down.

At last check, there were literally hundreds of stock-bots... and have been for a long time.  I have played with stockbots over the years, and can purchase them at will.  What I have not found is a good (read "safe) release of an arbitrage bot.  This so far is a closely guarded profit maker, & I want in.