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

[Doff]

Any plans to have the drop down on the browser show maybe in parenthesis your Set reserve amount? Right now it just shows your full account balance, I know I have a reserve set but id feel better if I saw it listed

[madpoet]

Giving BB a try!  It's a little pricey it seems unless you have a larger trading account, but maybe that's just me.  I'm mostly messing around with it now.

[papaminer]

I am still waiting for ALT COINS support...

[NginUS]

I am still waiting for ALT COINS support...

I don't get the advantage to trading in altcoins. I personally don't see much of a future for them compared to bitcoin, & would rather hold btc than anything else. Maybe ltc. I like that I can take my btc to coinbase & cash some out when I need some cash, whereas altcoins I can't do that.

Do you think they're going to take off one day? Is it worth having them? Why do you want to deal with them?

[velacreations]

I am still waiting for ALT COINS support...

I don't get the advantage to trading in altcoins. I personally don't see much of a future for them compared to bitcoin, & would rather hold btc than anything else. Maybe ltc. I like that I can take my btc to coinbase & cash some out when I need some cash, whereas altcoins I can't do that.

Do you think they're going to take off one day? Is it worth having them? Why do you want to deal with them?

I used to think that way, until I found the perfect use for LTC: arbitrage between exchanges.  Just think if MtGox, Bitstamp and BtcChina carried LTC.  There would be little to no price difference for btc.  Alt coins with enough infrastructure to support it, would provide users a way to move funds to an exchange where they could cash out without verification rules or at lower costs.

I think people deal with them, because they make money with them.

[NginUS]

Pablo,

I was thinking about if you were to add the 'don't trade at a loss' feature to the bot, it ought to be able to be switched on / off so that those of us who don't want to use it don't have to. Also so we can see for ourselves how it pans out in backtesting when its on or off.

It would be nice if the devs could code a smart method that didn't hurt profits in backtesting. It would be a nice feature to have, as I've seen in backtesting the bot be responsible for thousands of dollars in losses only to be saved by a price rally later. I think there ought to be a way for it to be smart enough to not have those losses.

[boozezela]

I have similar experience..
IMHO profit should be calculated in BTC, not USD, or you should be able to chose do you want for profit to be displayed in USD or BTC.

In a market where the price only goes up when you sell high and buy later a little bit lower, you expose yourself to erosion.

E.g.
Buy at 100, sell at 112. Buy at 109, sell at 121, buy at 118, sell at 125 and so on > BTC erosion.
Buy at 100, sell at 112. Buy at 98, sell at 121, buy at 95, sell at 125, buy at 93 > BTC profit.

The latter is not happening, so calculating profits in BTC does not make sense, because you will only see losses.

One thing that we should considers however is that 1 mont ago 1BTC on bitstamp.net was 126$, now it's 499.

- The BOT tweaked to trade at 15 minutes intervals would have given 158% in 13 trades
- Buy and Hold would have given a profit of 194%

So IMHO with this trend it's difficult to choose between buy and hold, manual day-trading or the BOT.

[fible1]

Pablo,

I was thinking about if you were to add the 'don't trade at a loss' feature to the bot, it ought to be able to be switched on / off so that those of us who don't want to use it don't have to. Also so we can see for ourselves how it pans out in backtesting when its on or off.

It would be nice if the devs could code a smart method that didn't hurt profits in backtesting. It would be a nice feature to have, as I've seen in backtesting the bot be responsible for thousands of dollars in losses only to be saved by a price rally later. I think there ought to be a way for it to be smart enough to not have those losses.

Hi NginUS ,
  Yep, if we do the "do not trade at loss" feature, you will definitely be able to turn it on and off .

We are working on improving the trading engine as I mentioned a few pages back, we are being very diligent about it so it is taking its time, we'll see what we can combine and what we come up with. I will report back when we have some definitive results .

Pablo.

[fible1]

Hey Guys ,
  Just want to welcome the newcomers and give a shout out to those already in the community!

Pablo.

[ButchHashidy]

Wondering what everyone uses to backtest?  When I set the charts at bitcoincharts.com to EMA 9/20 and hourly interval over the course of the last 10 days.  I only see ONE instance where, at those values, the bot should have sold short and possibly made a slight loss.  Other then that, the only other time I see a cross over was on Nov 10th with the correction that would've made some good profits.

http://www.bitcoincharts.com/charts/bitstampUSD#rg10zigHourlyztgSza1gEMAzm1g9za2gEMAzm2g20zv

[papaminer]

The reason why I wanted to have LTC support is because... LTC is still pretty new and starting up.. I hope that when LTC is added in BTCCHINA.. it goes up to $25/LTC

Bitcoin on the other hand is very expensive already... LOL... I cannot afford to lose 1 or 2 bitcoins...

[NginUS]

Has there been any discussion on the part of BTCChina re: adding LTC soon?

[NginUS]

Pablo,

When altcoins are released, how will the bot know how much of the single pool of fiat to spend on each pool of different coins?

Would I suddenly find myself with all altcoins & no btc one day?

Do we get to assign percentages of the fiat pool for each altcoin?

How does the bot manage that?

[hhs99]

Does it work with other coins? I would love to have a bot to manage my goldcoins,litecoins and feathercoins. They fluctuate more than the wind outside.

[NginUS]

Does it work with other coins? I would love to have a bot to manage my goldcoins,litecoins and feathercoins. They fluctuate more than the wind outside.

Not yet, but it's a feature that's coming soon.

[hhs99]

I would love that. Its a pain in the butt to monitor the market every day for 5 different coins.

[upup]

Can some one share their settings? which he is using right now?

[vesperwillow]

In a market where the price only goes up when you sell high and buy later a little bit lower, you expose yourself to erosion.

E.g.
Buy at 100, sell at 112. Buy at 109, sell at 121, buy at 118, sell at 125 and so on > BTC erosion.
Buy at 100, sell at 112. Buy at 98, sell at 121, buy at 95, sell at 125, buy at 93 > BTC profit.

The latter is not happening, so calculating profits in BTC does not make sense, because you will only see losses.

So IMHO with this trend it's difficult to choose between buy and hold, manual day-trading or the BOT.

That can happen which is why it may be good to run several bots to hedge yourself. Additionally, frequency of trade is important. If your bot is higher frequency in a market as you described, you'll get hurt. If you adjust it so it's less frequent/sensitive, it may not be as hurt.

Case in point, I had some erosion trades last week. I monitored the market and was trying varying settings out to help fight the issue. I found some settings I like, and I run different bot instances for each exchange, allowing me to use settings unique to each. This fixed my erosion issue, and during the next sell I'll be making another decent profit.

I already suggested to Pablo that there be a way we can keep settings we like stored in the bot, maybe with a drop-down selector, to make it easier to switch between them.

Can some one share their settings? which he is using right now?

There's plenty in this thread if you look throughout it. I have too many to post any one single good setting, I would suggest starting with what Pablo suggests.

[madpoet]

Heh forgot I had no reserve set.  Mt. Gox refunded me some cash from a pending withdrawal that was taking too long and BB executed a new buy with it.  Doh!

A question though, is it best to run all 3 exchanges?  Does that spread out your risk/reward potential?

[vesperwillow]

Heh forgot I had no reserve set.  Mt. Gox refunded me some cash from a pending withdrawal that was taking too long and BB executed a new buy with it.  Doh!

A question though, is it best to run all 3 exchanges?  Does that spread out your risk/reward potential?

Definitely. I don't use Bitstamp but I use the other 2. MTGox is the most volatile definitely.