mtgox bots

[charliesheen]

does anyone have any good mtgox bots?

[Meatpile]

If i made one, it would definitely take all the lazy ass speculators dumb enough to install its capital and use that to create stability no matter the cost.

[myhoho]

For the time being the market it's too simple to make any bots...

[Leon]

For the time being the market it's too simple to make any bots...

Actually they already exist.

[myhoho]

thanks for letting me know   , but they are still useless

[elk-tamer]

I have all the pieces for one done in java, but I don't have the patience to deal with usd. Do you have logic you want to run?

[charliesheen]

i built one in php, it buys and sells alternatingly for a lesser and greater amount then the previous one plus fees. I made $.25 last night. I re implemented it 3 times today with different gox acccounts today.

[Leon]

thanks for letting me know   , but they are still useless

They are hardly useless, more so if you have one of those mtgox accounts with no fees, they can just buy/sell 24/7 even if its making pennies each buy/sell since mtgox charges them no fees.

This is one big reason the prices are a lot more stables than they should actually be. After the 27th these free fees will go away, and I think the fees will actually be higher, I could have heard wrong though.

[Valalvax]

thanks for letting me know   , but they are still useless

They are hardly useless, more so if you have one of those mtgox accounts with no fees, they can just buy/sell 24/7 even if its making pennies each buy/sell since mtgox charges them no fees.

This is one big reason the prices are a lot more stables than they should actually be. After the 27th these free fees will go away, and I think the fees will actually be higher, I could have heard wrong though.

Some accounts have 0.00%

The rest have 0.3(?)%

The 27th everyone will be at 0.3(?)%

After that it's back to the old percentage

[bearbones]

I have a python bot that trades on both tradehill and mtgox. It is certainly not useless, unless you have no use for profit.

[bitcoinTrader]

I am currently in the process of building one in java.

Once coding is done, I will design a GUI for it

[pdki]

The question for a bot is: what shall it do? Volatility is low, by just buying and selling within a range you will barely make profit. For longer term strategies, you don't need a bot, but a concept how to predict what the market will do.

[bitcoinTrader]

It depends on how you implement the bot (buying/selling).

[pdki]

With fees of 0.65% you need ~15ct trading margin just to recover the fees. There were not many occasions in the last days where you could pull a profit.

To convince me it is still possible, how much has anybody here earned during the last week with a bot? You don't need to tell how you did it ;-)

[bitcoinTrader]

I will let you know when my bot starts trading and making profits (hopefully)