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

[MBH]

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

It's a very nice idea.

Hello,

I'd strongly suggest against putting your bitcoin wallets in hosted virtual machines / virtual private servers (VPSs), as the owner of such infrastructure has full access to the VMs and can copy your wallets and use the funds at any point.

You don't really need the wallets until you want to pull out the BTCs, if you ever want to. So the wallet doesn't have to exist on the VM. Just let the bot run on the VM and make sure to restrict the API key to disallow it from withdrawing any funds.

It might be cheaper to buy a RaspberryPi per person and run them from home.

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[KamiN]

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

It's a very nice idea.

Hello,

I'd strongly suggest against putting your bitcoin wallets in hosted virtual machines / virtual private servers (VPSs), as the owner of such infrastructure has full access to the VMs and can copy your wallets and use the funds at any point.

You don't really need the wallets until you want to pull out the BTCs, if you ever want to. So the wallet doesn't have to exist on the VM. Just let the bot run on the VM and make sure to restrict the API key to disallow it from withdrawing any funds.

It might be cheaper to buy a RaspberryPi per person and run them from home.

I think he meant his own VMs, as in running an ESXi/Xen server at home. I do the same for my own butter bot at the moment, so it can run 24/7.

[fible1]

7900% beats B&H by almost 200%

Hi,

I just changed from the recommended settings for BTC-e to these settings that were kindly posted here for us which have a much greater profit than the official settings do. I've even managed to squeeze an extra 1000% out of it by playing with tick offset, so I'm happy with it & thanks for posting.

I'm concerned however that with the larger trade frequency set I may miss opportunities which happen quickly due to the upcoming Senate hearings. Is that what happens with the bigger values there, or am I mistaken?

How will these new settings handle flash situations in the market? Will they miss out?

I guess maybe I'm not understanding how the bot pays attention to the market, if its eyes are open looking at the price all the time, or if it just looks now & then, in which case it could miss alot. Could someone explain that to me please?


Thanks.

Hi Ngin ,
   Yep, the larger threshold values require the movements to be bigger for the triggers to happen, the higher time intervals mean that more time elapses between each time Butter polls the market. All in all, this kind of tweaking will work on an individual basis depending on whether you see a flash crash, a flash crash with a quick rebound, a pure surge, etc.

You can go mad trying to tweak your settings for what you perceive each individual market to be, all in all it's better to look at your trades in aggregate and try to find proper settings for the long term average.

Please let me know if this does not answer your question.

Pablo.

[fible1]

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

[velacreations]

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

[joehal]

Is there a way to set the butterbot to never sell at a loss ?
 For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

[bigb159]

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

Thanks, I've been running Butter Bot since 10AM or so (~4 hours) and not a single trade has executed. Normal?

[fible1]

Is there a way to set the butterbot to never sell at a loss ?
 For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

Hi Joehal ,
  This feature is very requested and it's not hard to code but we have not included it for a simple reason: it assumes that in the immediate term, BTC will always go up. Regardless of our long term bullish or bearish positions on BTC, it's a bad assumption to make. Suppose it's April and BTC is trading at 240, you purchased at 240 but then BTC begins to crash. Butter will not sell because of the "Do Not Take a Loss" command and by the time it hits 120 you have lost half your net worth.

The argument can be made that over 6 months you may make your money back plus a profit but that's not a healthy assumption to make with any commodity, nor is it really a trading strategy. This feature is so requested though that we may include it at some point with an advisory I suppose.

I hope that answers your question, please do not hesitate to let me know if you need anything at all .

Pablo.

[fible1]

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

Thanks, I've been running Butter Bot since 10AM or so (~4 hours) and not a single trade has executed. Normal?

Hey ,
EMA (the bot's algorithm) is a trend seeking algorithm, that means that the bot seeks to get in/out of up/down trends as quickly as possible; thus the bot will only trade when the market reverses itself.

BTC has been climbing slowly/been mostly flat for the past few days and thus the bot is holding a "buy" command, therefore you would not expect to have seen a trade yet. When the market reverses itself you will see a trade and the bot will sell your BTC for Fiat.

This is not a High Frequency Trader (HFT) mostly because we have tested these strategies and they tend to have very poor results. With EMA, the fewer trades you see, the better, because it means that trends are manifesting themselves and making you money. Many trades in a short period of time could mean the bot has been triggered by a false signal and could end up costing you fees.

I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

[bigb159]

Thank you for the great quick reply. Every indication seemed to point that things were running, so I'll just let it roll for now and see where things go.

[fible1]

Thank you for the great quick reply. Every indication seemed to point that things were running, so I'll just let it roll for now and see where things go.

Hey BigB ,
  You can always double check that everything is running by looking for the "connectivity check mark" on the main bot menu; please see below:



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

Pablo.

[joehal]

I understand, that's why I would like to run 2 separate butterbots . One with the "Do Not Take a Loss" command (I hope you will include it soon) and another instance with the "normal" trading values.
 By the way - another suggestion : to be able to run 2 instances - bots with a single bitstamp account and with a single chrome.

Is there a way to set the butterbot to never sell at a loss ?
 For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

Hi Joehal ,
  This feature is very requested and it's not hard to code but we have not included it for a simple reason: it assumes that in the immediate term, BTC will always go up. Regardless of our long term bullish or bearish positions on BTC, it's a bad assumption to make. Suppose it's April and BTC is trading at 240, you purchased at 240 but then BTC begins to crash. Butter will not sell because of the "Do Not Take a Loss" command and by the time it hits 120 you have lost half your net worth.

The argument can be made that over 6 months you may make your money back plus a profit but that's not a healthy assumption to make with any commodity, nor is it really a trading strategy. This feature is so requested though that we may include it at some point with an advisory I suppose.

I hope that answers your question, please do not hesitate to let me know if you need anything at all .

Pablo.

[fible1]

I understand, that's why I would like to run 2 separate butterbots . One with the "Do Not Take a Loss" command (I hope you will include it soon) and another instance with the "normal" trading values.
 By the way - another suggestion : to be able to run 2 instances - bots with a single bitstamp account and with a single chrome.

Is there a way to set the butterbot to never sell at a loss ?
 For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

Hi Joehal ,
  This feature is very requested and it's not hard to code but we have not included it for a simple reason: it assumes that in the immediate term, BTC will always go up. Regardless of our long term bullish or bearish positions on BTC, it's a bad assumption to make. Suppose it's April and BTC is trading at 240, you purchased at 240 but then BTC begins to crash. Butter will not sell because of the "Do Not Take a Loss" command and by the time it hits 120 you have lost half your net worth.

The argument can be made that over 6 months you may make your money back plus a profit but that's not a healthy assumption to make with any commodity, nor is it really a trading strategy. This feature is so requested though that we may include it at some point with an advisory I suppose.

I hope that answers your question, please do not hesitate to let me know if you need anything at all .

Pablo.

For the first suggestion: I'll bring it up with the developer .

For the second: You can already do that, you can run multiple profiles and have multiple Butter's on your PC with different settings on the same exchange. Please just make sure to use different API keys for each.

Instructions: You can have multiple profiles running on the same machine simultaneously. It's pretty easy, here's a description on how to set it up: http://cybernetnews.com/chrome-multiple-profiles/

I'm here for whatever you need .

Pablo.

[simiane]

Hi all,

I'm a new user to Butter Bot, I've been running the demo for the last few days and reading the various conceptual arguments about bot profitability vs B&H etc... I'm now in the bizarre position of actually hoping for a BTC price crash so I can buy back low, assuming that the bot gets me out in time!
All in all, I think the bot is for me and I'm looking forward to being able to use it with LTC/USD also.

Just wanted to pipe in though that I too would love to see a 'don't sell at a loss' feature.
It seems to me that if you're able to specify that the bot shouldn't sell below it's last purchase price, then you're basically on 'B&H plus extra profits during market volatility'.

Sure, the price could tank. If you're lucky, the EMA settings you have got you out of BTC in time and you can buy back at a lower price and profit as the price climbs back up - but if not, you've basically switched to B&H on those coins until the market recovers.
Since people are arguing over whether B&H is a better strategy, and the suggestion of a split between the two seems sensible, this looks like an ideal scenario.

We're assuming of course that the overall trend is up. But if you're B&H, then you're assuming that already... and if the price never goes back up, well you'd have lost with B&H anyway!

Of course, if the price has really tanked and takes months to recover, you'll be losing out on all the profit the bot would be making on a lower priced, but still volatile market over that time - but if the feature's available then you ticks yer box and you takes yer chances.

If the feature is planned, I'd be interested to know how it'll work - If I find myself locked in to BTC at a higher price because the bot didn't spot the downtrend in time to get me out at a profit, my thinking is that I'll probably want to pump some more USD into the account and have the bot pick up some more BTC when it spots the next uptrend. I'd want the bot to remember that X amount of BTC can't be sold below $Y, but the rest is available for it to trade with.

From a development point of view, I can see how that would get complicated. You'd need to track the amount of BTC sold and at what price. Presumably that means the trades would have to be recorded to a database and have some kind of open / close position. A trade of X BTC opened at $Y. Current price below $Y so trades can't be used to 'close' X BTC until Y > the price of BTC at the point of the X trade.
Trades instead 'open' new records and close themselves until the $Y is reached.
The point being you wouldn't be able to just look at the last trade.......

I'm digressing - just wanted to say hi.

[Gentle_bend]

Everyone else having problems with MtGox API at the moment (and last couple of hours)...?
Price info seems to be pulled correctly and graph is updated but yellow warning keeps saying that there is a problem with it. I'm trading in €, if it has any meaning.

[boozezela]

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

Hi Pablo,

I hope that you are considering all possible scenarios because from a security point of view this can be easily become a nightmare.

Nobody will be able to steal money/BTC, however the potential for wiping out accounts because of intentional misconfiguration of the BOT parameters is huge.

What would be the details on how to interact with the BOT in a hosted environment? RDC? Teamviewer? A web application?

[MicroFi]

Everyone else having problems with MtGox API at the moment (and last couple of hours)...?
Price info seems to be pulled correctly and graph is updated but yellow warning keeps saying that there is a problem with it. I'm trading in €, if it has any meaning.

Hi Gentle_bend,

I'm also using the MtGox API in combination with €/BTC trading, and I'm not having any issues at all.
Have you tried a refresh of your Chrome Extensions? (CTRL + 'R' in the Extensions menu)

[bigb159]

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

Hi BigB ,
  Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all .

Pablo.

Hi Pablo,

I hope that you are considering all possible scenarios because from a security point of view this can be easily become a nightmare.

Nobody will be able to steal money/BTC, however the potential for wiping out accounts because of intentional misconfiguration of the BOT parameters is huge.

What would be the details on how to interact with the BOT in a hosted environment? RDC? Teamviewer? A web application?

Remote connection to a virtual desktop will most likely be overkill. I'm sure he's looking into hosting the bot as a web application. I seem to have read that this has been taking some time to figure out. I have mine currently running on my home server iMac, no trades yet - possibly the uptrend?

[upup]

Pablo, can you check

Below settings yesterday were :

http://s22.postimg.org/9uhliu681/Untitled.jpg

And today are :

http://f.cl.ly/items/1g3R2s3s2A0Q3V3A2y3K/Screen%20Shot%202013-11-13%20at%2021.38.30.png

Maybe this will change by tomorrow too ?

http://s24.postimg.org/e4sb653z9/Untitled.jpg

Right now Im using butterbot demo on this settings and it doing strange things
Sell for 400
Buy for 405
Sell for 406
Buy for 419

[velacreations]

Right now Im using butterbot demo on this settings and it doing strange things
Sell for 400
Buy for 405
Sell for 406
Buy for 419

the dip last night got the better of the bot on a lot of settings.