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so98nn
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March 24, 2021, 01:45:58 PM |
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I am happy that people try astounding things around the internet. I am really not sure if I will ever use it or not but, it looks very interesting. This could be the start of something big. Though bot trading is unrealistic for me, then also based on the concept this one looks good. You were pretty good at thinking that Elon Musk's tweets may affect the bitcoin price movement. However, they are not entirely moving the price almost always! The bot may be useful for one or two times couple of weekly or monthly. So the question is whether it would be worth using it? I mean if the frequency of tweet were too much and at each tweet it would have moved the price then it could have been beneficial. Thats what I think about it.
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el kaka22
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www.Crypto.Games: Multiple coins, multiple games
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March 24, 2021, 06:41:01 PM |
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...What are your thoughts on this, would you try it?..
I think that it is necessary to make such a distinction so that when Elon Musk creates a tweet with negative information about bitcoin, your bot does not open an order to buy BTC. Since if Musk writes that Tesla sold previously purchased bitcoins, I am sure that the price of BTC will begin to decline, and you will suffer a loss in the case of opening a transaction in long. I believe there is a logic behind it, not supporting it but there is a logic behind it. If Elon writes a tweet, he writes good things about it, and that's why it goes up, if he changes his mind you could be in trouble for just one tweet period and then close it, but until then at least you could trade accordingly. I believe this is not a bad idea, not like dude who invested 1.5+ billion dollars of his companies money on bitcoin and start accepting bitcoin will suddenly have a change of heart and start talking negatively about bitcoin, that looks as unlikely as possible. Which is why I think if you could be the first one to get in and wait for it to go up, depending on the situation we could have a decent profit thanks to it. Not like it increases a lot each time, it increased like 3% this time, so it wasn't a big deal, so it is not a trick to get rich. |
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tvplus006
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To the moon
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March 25, 2021, 10:27:58 AM |
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I believe this is not a bad idea, not like dude who invested 1.5+ billion dollars of his companies money on bitcoin and start accepting bitcoin will suddenly have a change of heart and start talking negatively about bitcoin, that looks as unlikely as possible. Which is why I think if you could be the first one to get in and wait for it to go up, depending on the situation we could have a decent profit thanks to it. Not like it increases a lot each time, it increased like 3% this time, so it wasn't a big deal, so it is not a trick to get rich.
We will not be able to get such information in a timely manner that Tesla has sold its 1.5 billion bitcoins. And I admit that such a decision can be made to fix the profit from the sale of BTC, which exceeds the profit from the sale of cars at the moment for the past year. And after Elon Musk tweets that Tesla sold BTC, I'm sure the price of bitcoin will go down. |
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DoublerHunter
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March 25, 2021, 12:08:07 PM |
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^ I appreciated your bot project but I have a question too, is there a time frame before the bot will execute the buying point?
Because if the bot executes buy instantly after reading the tweet, it will not probably have an effect immediately. It will take probably an hour.
Nevertheless, probably this is an effective way to gain profit but I don't think it will consistently have the same result every time when Elon Musk tweeted about BTC. Just one last question, how about if the tweet is in neutral sentiment?
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imstillthebest
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March 25, 2021, 12:18:20 PM |
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I believe this is not a bad idea, not like dude who invested 1.5+ billion dollars of his companies money on bitcoin and start accepting bitcoin will suddenly have a change of heart and start talking negatively about bitcoin, that looks as unlikely as possible.
We will not be able to get such information in a timely manner that Tesla has sold its 1.5 billion bitcoins.. And after Elon Musk tweets that Tesla sold BTC, I'm sure the price of bitcoin will go down. its unlikely but its possible because other btc influencers do also have a change in their minds on supporting bitcoin but if elon tweeted that negative decision first , the bot can detect it and we can sell or prepare for a buy out before elon make its move of selling his btc and if not , there is still a stop loss in the bot that can help you prevent from loosing further . btc value dont revovle alone in the hands of elon but thanks for the effort op |
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CyberPunkMetalHead (OP)
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March 25, 2021, 01:08:00 PM |
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I believe this is not a bad idea, not like dude who invested 1.5+ billion dollars of his companies money on bitcoin and start accepting bitcoin will suddenly have a change of heart and start talking negatively about bitcoin, that looks as unlikely as possible.
We will not be able to get such information in a timely manner that Tesla has sold its 1.5 billion bitcoins.. And after Elon Musk tweets that Tesla sold BTC, I'm sure the price of bitcoin will go down. its unlikely but its possible because other btc influencers do also have a change in their minds on supporting bitcoin but if elon tweeted that negative decision first , the bot can detect it and we can sell or prepare for a buy out before elon make its move of selling his btc and if not , there is still a stop loss in the bot that can help you prevent from loosing further . btc value dont revovle alone in the hands of elon but thanks for the effort op Of course it doesn’t, the bot is mainly built for the novelty of it and not much else. There many other indicators that can be used that would probably yield a better trading strategy. But if we take into account social media sentiment - a quantitative solution ie: analysing 1000s of tweets will probably give an indication about how people feel about Bitcoin that that moment in time. This, I feel would be more accurate. |
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bassbity
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March 25, 2021, 02:19:55 PM |
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You describe the benefits of a bot that you design yourself with the systems and settings you have configured. but what about the opposite risk? suppose the tweet is not to raise bitcoin? it's just that in the tweet mentions bitcoin.
well I simplify. Elon tweets about bitcoin or DogeCoin on average always use figure of speech. elon is not a person with minimal education. example: when elon makes a tweet about DogeCoin (he only occasionally uses the words "DOgeCoin").
while the rest use word games and pictures.
So how can the bot detect your tweet about bitcoin with language or code? whether the bot that you designed is able to read that much?
if not then you are wasting your time on a tweet from Elon.
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CyberPunkMetalHead (OP)
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March 25, 2021, 03:28:34 PM |
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You describe the benefits of a bot that you design yourself with the systems and settings you have configured. but what about the opposite risk? suppose the tweet is not to raise bitcoin? it's just that in the tweet mentions bitcoin.
well I simplify. Elon tweets about bitcoin or DogeCoin on average always use figure of speech. elon is not a person with minimal education. example: when elon makes a tweet about DogeCoin (he only occasionally uses the words "DOgeCoin").
while the rest use word games and pictures.
So how can the bot detect your tweet about bitcoin with language or code? whether the bot that you designed is able to read that much?
if not then you are wasting your time on a tweet from Elon.
Well it looks for tweets by giving it keywords, so you can choose what keywords your bot should be looking for and it will go looking. There are definitely risks associated using this bot, I never endorsed using it on a live account. It's built for fun mainly, like I said before. |
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maxreish
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March 26, 2021, 06:22:08 AM |
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What's the impact of this bot you have made with Elon Musk then after he tweeted about accepting payments of his company bitcoin suddenly pumped a little then bounce down not so long after his tweet.
Is the bot strategy works after the tweet?
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Mauser
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March 26, 2021, 08:50:24 AM |
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Many of you have suggested to add a function to detect the Tweet's sentiment to that the bot does not buy bitcoin if Elon's Tweet contains a negative sentiment about it.
I went and looked for an API that can be integrated in my project and found one that works pretty well.
The Bot will now only buy if the Tweet where bitcoin is mentioned has a positive sentiment! Here are the new resources:
That is an awesome trading strategy. Thank you for sharing your trading bot with us. It would be nice if you could show your trading profile for this bot. Maybe you don't want to share so much specific infortmation, but I find it very interesting. Sorry if this is too direct. How many bitcoins are you using to trade and how many trades did you do over the last few weeks? Do we know how high the correlation between Elon Musk tweeting about Bitcoins, and a rise in Bitcoin price is? |
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Renampun
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March 26, 2021, 09:28:47 AM |
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I appreciate the results of your hard work, hope your robot is useful for you and others... I hardly ever use a robot for trading, I am afraid because most of the stories I have heard are not profitable. but a robot to buy Bitcoin when Elon tweets is a great idea 'lol'. |
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goldade
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The Standard Protocol - Solving Inflation
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March 26, 2021, 09:30:34 AM |
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This is a really great and innovative idea. I have realized over time how that Elon Musk's tweets about bitcoins influences the price, many times in the positive direction. I knew it'd be great to always be online to take advantage of such moments but just like everybody else, it is totally impossible for that to happen and now that a bot has been created, it's a super help.
It'd be good if you can show the bot trading profile so we can know how successful the bot has been. I know many people wont want to trust something until they've seen proof of its success
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tvplus006
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To the moon
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March 26, 2021, 10:55:12 AM |
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UPDATE
Many of you have suggested to add a function to detect the Tweet's sentiment to that the bot does not buy bitcoin if Elon's Tweet contains a negative sentiment about it.
I went and looked for an API that can be integrated in my project and found one that works pretty well...
This is a very important and useful update, which I wrote about earlier. I would like to see another tweet by Elon Musk about bitcoin and how your bot will react to it. On the basis of this bot, you can make several varieties so that it supports not only tweets about BTC, but also, for example, about DogeCoin and other coins that Elon Musk can shill. |
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XZERO1
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March 26, 2021, 11:01:00 AM |
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Yes it doesn't take tweet sentiment into account right now but I am developing a module for it so it will be able to tell whether it's a positive or negative tweet. As well as adding support for more coins and twitter accounts.
I'm guessing that wouldn't be easy at all to configure your bot in a way that it can determine the sentiment as well and be accurate 100% of the time, not following him but there are some people on Twitter that once they tweet they have the ability to increase that asset price 2x easily depending on that coin/token marketcap, if it can be done on his twitter page, I believe it can be used on anyone's twitter account. Will you be adding certain keywords to it's configuration so it can figure out the sentiment(positive or negative) from the tweets or are you using other ways as well? |
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tvplus006
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March 26, 2021, 12:36:45 PM |
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Yes it doesn't take tweet sentiment into account right now but I am developing a module for it so it will be able to tell whether it's a positive or negative tweet. As well as adding support for more coins and twitter accounts.
I'm guessing that wouldn't be easy at all to configure your bot in a way that it can determine the sentiment as well and be accurate 100% of the time, not following him but there are some people on Twitter that once they tweet they have the ability to increase that asset price 2x easily depending on that coin/token marketcap, if it can be done on his twitter page, I believe it can be used on anyone's twitter account. Will you be adding certain keywords to it's configuration so it can figure out the sentiment(positive or negative) from the tweets or are you using other ways as well? You quoted an old message, after which an update appeared, which already contains answers to your questions. The OP has already made an update for its bot that takes into account "the sentiment of the tweet, so that the bot does not buy bitcoins if Elon tweet contains a negative opinion about it", see more here: https://bitcointalk.org/index.php?topic=5325658.msg56642862#msg56642862 |
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wxa7115
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March 26, 2021, 04:05:54 PM |
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Although I appreciate the effort and time you may have put into it, I believe that with buy & hold you will have more than enough profitability. The bitcoin has been the most profitable asset of the last decade and everything looks like it will be the most profitable of the next decade, outperforming by far any other asset. Strategies to supposedly get an even higher return seems like a waste of time to me.
While I believe the same I am all for it when it comes to innovation, I find it interesting we have come to the point bots can be made to trade based on the sentiment of a tweet, that kind of idea would have never occurred to me so I am interested about the results anyone could get out of this bot. Now even if this is never used to actually trade in the markets with real money it would be interesting to know what is its performance against other strategies and especially against just holding your coins, and if for some reason this turns out to be profitable prepare yourself to see lots of bots running with similar mechanics to the ones described on this thread. |
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JooBra
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March 26, 2021, 08:03:50 PM |
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...
I appreciate the results of your hard work, hope your robot is useful for you and others... I hardly ever use a robot for trading, I am afraid because most of the stories I have heard are not profitable. but a robot to buy Bitcoin when Elon tweets is a great idea 'lol'. It really a good idea and gives me a lot of ideas. Is it possible to make a robot that will follow tens accounts. I just wonder... It looks something like that would work better if you implement it for smaller coins. |
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CyberPunkMetalHead (OP)
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March 27, 2021, 08:07:09 AM |
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...
I appreciate the results of your hard work, hope your robot is useful for you and others... I hardly ever use a robot for trading, I am afraid because most of the stories I have heard are not profitable. but a robot to buy Bitcoin when Elon tweets is a great idea 'lol'. It really a good idea and gives me a lot of ideas. Is it possible to make a robot that will follow tens accounts. I just wonder... It looks something like that would work better if you implement it for smaller coins. Yeah that’s definitely possible. The bot could listen to different Twitter accounts for different cryptocurrencies. |
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TedMosby
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March 27, 2021, 04:10:42 PM |
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snip-
What are your thoughts on this, would you try it?
-snip-
I definitely will try this. could you please make a youtube tutorial for this? I don't really familiar with metatrader software. I want to try it just for fun. also, if you could make it more mobile-friendly, it will be useful, for example, a telegram bot maybe. hmm.. maybe you can set some parameters based on this article. https://beincrypto.com/what-impact-do-twitter-influencers-have-on-crypto-prices/ |
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