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Author Topic: [Auction] MtGox open order automat - second auction  (Read 801 times)
bitdude
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November 28, 2013, 08:23:40 AM
 #1

Hi again,

previous auction was successful - see here https://bitcointalk.org/index.php?topic=336368.0, so here we go once again. Since that time, the software I am offering here made me another good bunch of money while lowering my the risk.

Auction rules

Starting price: 0.025 BTC
Smallest price increment: 0.005 BTC
Auction ends with the counter above.
Winning bids are binding.
Escrow? Possible, if you need it, you arrange the deal and pay fees. Must be super trusted like JohnK. Mutual agreement on the guy is needed.
The winner gets nonexclusive copy of the tool.
No PM bids accepted for this auction.

If you are interested in modifications of this tool, do not post in this auction. This auction is only for the tool as described below. If you are interested in some modification of it, let me know in PM what would you need and include your offer in BTC too.

License
By bidding you agree that if you win, you will not be allowed to sell the tool to other persons, you just get a license to use the tool for yourself. You will be allowed to modify the source code and add new features, but not to sell my code or its parts. Thanks for understanding.

Guarantee
The tool is being sold as is. I use it for myself, that is its primary purpose of existence. I just thought that someone might be interested in this too, so that could make me some extra satoshis. I really can not guarantee you any additional coding work in the future for 0.01 BTC and similar amounts. It just works now. It would need update only if MtGox changes their API. I might be able to make that change for you in the future if that happens, but not free of charge.

However, I offer you updates in case it stops working within 30 days after purchase. If MtGox changes their API in 30 days from purchase, you will get update for free so that you can use the tool again. If I fail to give you that update within 14 days of your request, you get your money back.

So, what is being sold?
For my own trading I have coded a tool in C#, I am using it daily, works well for me, so maybe someone would also find it handy. I will give you the source code so that you can be sure that the tool is what you expect and not something ugly that would steal your BTC. If you are interested I can give you the binary too, but this is not very smart idea unless you really trust me ...

This tool is for Windows - Vista and higher for sure, probably XP SP3 too - the only requirement is .NET 4 (*nix systems might have Mono or Wine, but I am not familiar with it and I do not know if my program runs under Mono or Wine; if you are *nix user, it is completely your risk to bid in this auction, you might end with a thing you might not be able to use on your non-Windows system; however, if you use VirtualBox or VMware with Windows, it would work for sure) and you run it like this:

Code:

btc.exe FILE


FILE is a simple TXT file that you create with your favorite text editor. It looks like this:

Code:

{
  "Action": "CancelOrders",
  "Count": "0",
  "BasePrice": "0",
  "BaseAmount": "0",
  "PriceFormula": "0",
  "AmountFormula": "0"
}


or like this:

Code:

{
  "Action": "Buy",
  "Count": "50",
  "BasePrice": "299.8400",
  "BaseAmount": "0.01",
  "PriceFormula": "[Price] - 0.9",
  "AmountFormula": "[Amount] + ([Counter] + 1) * 0.001"
}


or with Action set to "Sell", obviously. This is JSON format of input.

Now what it does. If action is "CancelOrders" it just cancel all your MtGox orders. It goes one by one and with a small delay between two requests, it sends cancel order request to MtGox. This is handy if you have more than 10 orders and need to cancel them. All other input parameters are ignored in case of "CancelOrder" action.

Much more interesting are "Buy" and "Sell" actions. In their case other parameters are useful too.

Count paramter is a number of orders you would like to create. I use 50-70 here, but this is entirely up on you. Could be 1, could be 100. I am not sure whether MtGox has any limit here, but up to 70 it is tested and works fine.

BasePrice is simply the price of the first order, for which you want to Buy/Sell BTC.

BaseAmount is the amount of BTC of the first order you want to Buy/Sell.

PriceFormula is how the price is changed with each order. So, if the BasePrice is 100 and you have your PriceFormule set to "[Price] - 1.00" then the first order's price will be 100, second will be 99, third 98 etc. You can use some variables here like [Price] and [Counter]. [Price] is simply the price of your last order. [Counter] goes from 1 up to the value of your Count parameter, incremented by 1 after placing an order.

Similarly AmountFormula is how your Amount is being changed. Here you can use variables [Amount] and [Counter].

It might be more clear to have an example. So let's try this. I create "config-buy-test.txt" and run "btc.exe config-buy-test.txt". The configuration file looks like this:

Code:

{
  "Action": "Buy",
  "Count": "5",
  "BasePrice": "100.00",
  "BaseAmount": "0.01",
  "PriceFormula": "[Price] - 0.50",
  "AmountFormula": "[Amount] + [Counter] * 5 * 0.001"
}


The result is here (snapshot taken some time ago, MtGox looks different now, but the tool works without change with the new interface too):




As you can see, we started on price 100 USD/BTC and amount 0.01 BTC. Then we altered your Price by formula

Price := [Price] - 0.5

so the second order has its price set to 99.5. The amount formula is

Amount := [Amount] + [Counter] * 5 * 0.001

which is after first order:

Amount := 0.01 + 1 * 5 * 0.001 = 0.015

Third order is Price := 99.5 - 0.5 = 99.0
and Amount := 0.015 + 2 * 5 * 0.001 = 0.015 + 0.01 = 0.025

and so on.
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bitdude
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November 28, 2013, 12:31:31 PM
 #2

Forgot the counter ...
http://gifcountdown.com/australia-adelaide/1385920800/fdfdfd/474747/fdfdfd/333333/ffff00/true/counter.gif

(2 days 20 hrs to go)
bitdude
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November 28, 2013, 12:31:52 PM
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bitdude
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November 29, 2013, 07:00:39 AM
 #4

More explanation on how I use the tool

Yesterday I have cancelled all my trades - I'm using 70 trades now, so the cancel command comes handy. And just before going to sleep I have installed new 70 buy commands. Here is the picture:



- the blue arrow points to the moment of installation - yesterday, just before the night, the price was around 1200 on Gox and I installed 70 buy commands starting 1179.8900 and going way down even below 800 (I'm conservative).
- the red arrow points to the moment when I started my computer today and checked the situation, price on Gox was 1200
- the green arrow points to the moment when the price was lowest during the night

My buy commands executed down to price 1050.7500. Since my formulas are set to buy more on lower price, the greatest single amount I bought during the night was for price 1050.75. Now I have my bitcoins from the night bought at average price of 1116.03 USD and this is after deducting Gox trade fees. Since the current price is 1200 USD, if I sell now, my profit would be 7.5 % minus selling fees, so let's say 7 %.

I could (but did not) set a sell order (or multiple sell orders). If i did, I could have sold some or all for 1220-1240 during the night already. This is optional in my strategy.
 
Of course, that 7 % profit is not from my whole capital used in this strategy - my buy orders were covered down to price 800 USD. I consider it very possible for BTC price to move down 30 % during a single day/night, but if I was more aggressive, I could set it all my capital to cover buy orders only down to 1000 USD for example. This is up on you to decide how aggressive you want to be and which price level you consider unlikely to fall below during the fall you want to profit on.
bitdude
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November 30, 2013, 08:38:05 AM
 #5

bump 24 hrs to go
bitdude
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December 01, 2013, 07:24:37 AM
 #6

one hour to go Smiley

another dip this night, very similar to the last one ...
bitdude
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December 02, 2013, 06:45:08 AM
 #7

The auction ended with no bidders. Never mind. If someone is interested to make me an offer, just PM me.

Have you make profit from this night?:



I had my orders installed from 1179.8900 (installed them when price was just above 1200 - blue arrow) and they executed down to 845.3000 (green line) and then I just woke up today to where the red arrow points - current price 1080. My avg. price 935 USD per BTC after deducting fees. That gives me 15 % if I sell now. Smiley

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