[PUBLIC - FREE] Penny Pong Bot

[GoldMan79]

Hey guys, Goldman here, a computer engineer. I'm starting a new project called the Penny Pong Bot.

https://i.ytimg.com/vi/9rEEDJMVUUk/maxresdefault.jpg

So the idea is simple, a trader bot that can run 24h/24, 7d/7 without f*cking up.

Main strategy: Ping Pong.
Supported Exchange (To start): Bittrex, Poloniex.
Price: Free for every person that will post an useful idea, strategy, comment in the post.
GUI (To start): none
Goal: 100 trades/day, without any coins hold on your wallet at the end of the day.

How its work:
Selection of coins :

• The bot gets all the available coins of the selected exchange.
• Remove all the coins with less than 1000 BTC on volume.
• Remove all the coins with a big gap between the buy/sell orders.

Trading conditions:

• The bot first checks if the actual price is between the high & low of the day, if yes the process keeps on going.
• The bot do the math to get the average price of the day. He trades only if the actual price is 1% higher or lower than the average price.
• The bot do the math to get the selling price and place the sell order, n% higher.

That what is done for the moment, if you are interested (or not) share some suggestions to filter the trade and make the bot better. Don't forget you will get it for free if you help.

http://www.digitallifeplus.com/wp-content/uploads/2013/07/Kaley-Cuoco-IMGUR.jpg

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[cryptoking710]

I was just thinking about this today!! are there any other bots available to compare this too?

[ferumflex]

I am not sure about 100 trades per day. My feeling it is better if you have just 10 but most of them are profitable. with 100 per day probably you will have a lot of false signals

[GoldMan79]

Hey guys, sorry for the delay.

I made some advancement, so how the bot works now:

1) He selects the top coins by volume (volume >= 1000), he removes every coin with a big gap between the buys and sells.
2) He gets the last ticker, the high of the day, the low of the day. If the market price is between the range: (high of the day - 3%) and (low of the day - 3%) he continues.
3) He gets the average price of the coin if the market price is equal to the average or the market price is between the range: (average price - 1%) and (average price + 1%) he continues.
4) He gets the last 3 ticks based on 30 minutes timeframe (tick+0 = is the actual market tick). If tick+2 and tick+1 have at least -0.5% change in the closing price. (tick+2 closing price > tick+1 closing price) he continues.
5) He gets the last 3 ticks based on 1 minutes timeframe (tick+0 = is the actual market tick). If tick+2 and tick+1 have at least 0.5% change in the closing price. (tick+2 closing price < tick+1 closing price).
6) Take the market price, amortize the fees ... blabla ... buy.
7) Do the same operation for every chosen coin, every 60 seconds.

[TwoCorn]

So, what kind of returns are you getting - daily, weekly? And what kind of rate for profitable trades vs losses? Any other stats you could give us would be helpful. I am interested in your project.

[My_name_is_Amicus]

If you need assistance or a second opinion with graphics/branding let me know. That's my gig.

When averaging does the bot take into consideration data from previous days or weeks?
To calculate a moving average or Trend.

I know past performance is no guarantee of future outcomes but I mean wouldn't it need to know if there is a general upwards or downwards (or sideways) trend?

Best of luck with the project, it's pretty interesting, I agree.

[My_name_is_Amicus]

Maker/ Taker fees

You may have already looked at this but, I'll mention it anyway.

Many exchanges charge a lower fee for "Maker" orders vs the "Taker" fee. (for example Bitfinex maker fee is 0.1% and Taker fee is 0.2%)

If your bot is executing 100s of trades per 24hr period, It may be worth providing an option were the bot will try to place a "Maker" order therefore incurring lower fees.

[GoldMan79]

I was just thinking about this today!! are there any other bots available to compare this too?

Hey, I had a problem with the CSRF protection, I wasn't able to quote people.
Yes, I saw one on the forum, but it was crap that why I decided to create my own.

[GoldMan79]

If you need assistance or a second opinion with graphics/branding let me know. That's my gig.

When averaging does the bot take into consideration data from previous days or weeks?
To calculate a moving average or Trend.

I know past performance is no guarantee of future outcomes but I mean wouldn't it need to know if there is a general upwards or downwards (or sideways) trend?

Best of luck with the project, it's pretty interesting, I agree.

Hey, the bot selects only the coins with a bullish trend based on 1h change. I will soon add the RSI & MACD to filter more trades.

[GoldMan79]

Maker/ Taker fees

You may have already looked at this but, I'll mention it anyway.

Many exchanges charge a lower fee for "Maker" orders vs the "Taker" fee. (for example Bitfinex maker fee is 0.1% and Taker fee is 0.2%)

If your bot is executing 100s of trades per 24hr period, It may be worth providing an option were the bot will try to place a "Maker" order therefore incurring lower fees.

That true, but the problem is the number of coins available. If you filter by the number of coins and the popularity of the exchange (traded volume) you will end up with 2, Bittrex than Poloniex. Bittrex has 0.25% fees of each operation but he has a lot of coins that why I started with him.

[GoldMan79]

So, what kind of returns are you getting - daily, weekly? And what kind of rate for profitable trades vs losses? Any other stats you could give us would be helpful. I am interested in your project.

Hey, I will start posting some stats soon.

[AltCreators]

So, what kind of returns are you getting - daily, weekly? And what kind of rate for profitable trades vs losses? Any other stats you could give us would be helpful. I am interested in your project.

Hey, I will start posting some stats soon.

What do you get in return for making this Ping Pong free trading estimates platform?

[Beefcake]

Suggestion: add to the bot: 3 pair auto arbitrage.  It trades 3 pairs (for example LTC, BTC, ETH) if there is a market inefficiency and if it can generate profit after exchange fees.  The math is very simple, however programming the bot to look for the many possible combinations may not be.

Suggestion: have clear trade records so that at the end of the year when we have to pay taxes we don't have to manually sort through thousands of transactions. Profit/loss, exchange fees, etc should be recorded in simple to read format.

If I think of anything else I will return

[GoldMan79]

So, what kind of returns are you getting - daily, weekly? And what kind of rate for profitable trades vs losses? Any other stats you could give us would be helpful. I am interested in your project.

Hey, I will start posting some stats soon.

What do you get in return for making this Ping Pong free trading estimates platform?

I'm gonna use it, the more people use the more I can make it efficient.

[GoldMan79]

Suggestion: add to the bot: 3 pair auto arbitrage.  It trades 3 pairs (for example LTC, BTC, ETH) if there is a market inefficiency and if it can generate profit after exchange fees.  The math is very simple, however programming the bot to look for the many possible combinations may not be.

Suggestion: have clear trade records so that at the end of the year when we have to pay taxes we don't have to manually sort through thousands of transactions. Profit/loss, exchange fees, etc should be recorded in simple to read format.

If I think of anything else I will return

Hey, the bot trade an average of 10 pairs a day.
And yes there is a clear table with the logs of each transaction.

[GoldMan79]

Hey, so after 24hours of testing, now the bot doesn't take more than 3 positions for each pair. I removed some rules, now it's: If the market price is between (High - 3%) & (Low - 3%) and there is 1% drop in the close price of two candles based on the 1-minute chart the buy & sell (with 1% profit) orders are filled.

The bot made 96 trades (with 0.02 BTC / trade -> not relevant), 79 are already sold, 17 are still on hold.
So what I'm trying to work on right now is:

• How to avoid taking positions that will not sell in the next minutes?
• How to predict if the price is going up before taking the trade?
• How to avoid taking trades at a high price that the market will reach again only after few days (or never  )
• How to avoid taking trades when there is a big dump (I will probably use the volume for that)
• What data could I use to make the bot better?
• What indicator(s) could I use to make the bot better?

There is the list of the things I'm working on, if you have any suggestion, go on! Even small ideas can help.

[Black House Up]

Sounds like a great idea. Honestly, I do not have a good suggestion for the bot yet, but I'll let you know when I think of one!

Maybe looking at the price&volume at another exchange? If there's a much higher volume on an other exchange and the price is also quite different, it could be falling/rising. That could be a nice addition.

Also, you said it trades 10 pairs, but the guy that said "3 pairs", meant Arbitrage Trading, which is using price differences between different pairs to obtain an almost risk-free profit. For example:

Buy 10 litecoin for $50/each, so $500.
Buy 2 Bitcoins for 5 Litecoins each, so 10 Litecoins.
Sell 2 Bitcoins for $275 each, so $550.

You just made 10% profit!!!

Obviously, it won't be that easy and profitable in reality, but it was just an example.. You get the idea.. I hope?

 

[GoldMan79]

Sounds like a great idea. Honestly, I do not have a good suggestion for the bot yet, but I'll let you know when I think of one!

Maybe looking at the price&volume at another exchange? If there's a much higher volume on an other exchange and the price is also quite different, it could be falling/rising. That could be a nice addition.

Also, you said it trades 10 pairs, but the guy that said "3 pairs", meant Arbitrage Trading, which is using price differences between different pairs to obtain an almost risk-free profit. For example:

Buy 10 litecoin for $50/each, so $500.
Buy 2 Bitcoins for 5 Litecoins each, so 10 Litecoins.
Sell 2 Bitcoins for $275 each, so $550.

You just made 10% profit!!!

Obviously, it won't be that easy and profitable in reality, but it was just an example.. You get the idea.. I hope?

 

I think it's a different thing, check this: https://bitcoin.stackexchange.com/questions/49819/cryptocurrency-arbitrage-what-do-i-need-to-know

[Black House Up]

Sounds like a great idea. Honestly, I do not have a good suggestion for the bot yet, but I'll let you know when I think of one!

Maybe looking at the price&volume at another exchange? If there's a much higher volume on an other exchange and the price is also quite different, it could be falling/rising. That could be a nice addition.

Also, you said it trades 10 pairs, but the guy that said "3 pairs", meant Arbitrage Trading, which is using price differences between different pairs to obtain an almost risk-free profit. For example:

Buy 10 litecoin for $50/each, so $500.
Buy 2 Bitcoins for 5 Litecoins each, so 10 Litecoins.
Sell 2 Bitcoins for $275 each, so $550.

You just made 10% profit!!!

Obviously, it won't be that easy and profitable in reality, but it was just an example.. You get the idea.. I hope?

 

I think it's a different thing, check this: https://bitcoin.stackexchange.com/questions/49819/cryptocurrency-arbitrage-what-do-i-need-to-know

What? I'm just saying that this might be a profitable addition to your bot that shouldn't even be that hard to add... Let's not get picky about the name of this strategy, shall we? xD 

[Kutum]

Seems like a good idea, i will look closely to it