I already trading an account Login. Altcoin discussion should be directed to our Slack Group or the appropriate subreddit. Posts that are solely comprised of memes, irrelevant youtube videos or similar will be removed. Bitcoin out other users for breaking our rules is not allowed. Instead, please report rule violations. Any affiliation with an exchange, product or service that's being discussed must be disclosed. Please send us a modmail. Please do your own research before selecting an exchange. Please direct posts about exchange issues to the respective megathread posts. Separate threads about exchange issues will be removed. I run a Bitcoin trading bot on 5 exchanges, AMA bot. During the last bubble I wrote a trading bot strategy Java using the XChange Financial Exchange Library with the goal of slowly selling off a chunk of my Bitcoins as the price rises and make a little extra off of the extreme volatility. The BTC bitcoin would be 0. When that order is filled it would create a buy for 0. So every time I sell and buy back the Bitcoins I make a small profit. Obviously this isn't an optimal strategy, because I am selling off Bitcoins at lower than future prices. I'm hoping to bitcoin release at least the source code to the bot, because I think increasing the liquidity on the exchanges would help stabilize the price. But for now it's very much in Alpha, I want to run it for a year or strategy to iron out all the bugs. Nope, in that sense I've made negative profit, and will continue to do so as the price rises this quickly. I gave my bots less than half my Bitcoins so I won't shed too many tears over price gains though. I've heard it's very difficult to beat Buy n' Hold methods in the current bullish market. The best strategy seems to be to buy, forget your password, then remember it a few years later: Neither bullish nor bubble but simply larger interest with a fixed supply. This isn't walmart, most folks don't even know btc exists and get excited and buy in when they find out. Some of them will buy in regardless of price because they're very long on the whole idea. This isn't a bubble we are adding new markets. Trading is an IPO. Bot ran it a bit during the bubble in April, bitcoin the most recent starting point was November 19th. I've fixed all the bugs I'm aware of and added better profit tracking since I got back from vacation. Now I'm going to run it for a full year and get some real data! Can you at least ballpark? Enough to throw around BTC tips like they're Monopoly money? I wrote a bot too. With fancy complicated algorithms like genetic optimizations, the Kalman filter or Markov chains. In all my simulations i found the best strategy is to buy and hold. Corrections are more or less unpredictable and as soon your bot "reacts" to something you are trading loosing. So i turned my bot off and did just the buy and hold thing. However I have a simple stoploss bot running which bot trigger if the bubble finally pops so that I can do other things than watching charts all day. Bots work well when the market is working rational but the last weeks oh well Of course, I'm talking about the "bubble mode" in which we are right now where there is no other direction but up. As soon as it moves sideways bots are profitable again. I have yet to be able to make money of corrections. However, it is easy to determine when the bubble is over e. That sounds like a good plan. You're right that a bot like this isn't going to match buy and hold during times of fast price rises but consider it a hedge against the price stabilising or even dropping slowly and it starts to make more sense. In my own case I may have lost a bot of money in the recent crash upwards but over the long term I've extracted and saved trading bitcoins than I put in so any way you look at it I'm up. I guess the genetic optimisations will take care of selecting the optimal values. Thanks for the AMA. The stop loss bot sounds interesting. Can you go into some deal about it and how easy it is to write and set up? If you know Python and use Linux I would recommend goxtool. It is straight forward to extend with your own strategies. Also you should setup a simple bot that just polls the ticker via http in case the websocket fails, which happens especially during crashes. Like, running 5 bot's who are aware of each other and communicate for arbitrage? Or just a single bot what can do arbitrage? It would be possible, I've actually considered the idea for the future. At the moment the bots are not aware of each other, and I haven't given them withdrawal permissions in the API so they can't transfer BTC back and forth. Although, I'm not sure I want a bot sending BTC around willy-nilly. Strategy know how many bugs my code has at first: They don't need to be strategy BTC out, they could be just aware of the arbitrage to know in which exchange to sell and where to buy. Then you bitcoin replenish their dollar and BTC funds slowly as they run out. I think this would be fairly difficult given how much friction there is in moving fiat around -- if we trading all move money freely between exchanges, the prices would be the same across all bitcoin them. I beg to differ. You can actually just deposit the same amount of Bitcoins to all exchanges to get the "Instant" effect when doing arb. How trading you feel about this site? I've been using it to test algorithms, with some success. I've just bitcoin into this sort of programming, I have little to no technical analysis knowledge however, any suggestions for high performing methods in BTC markets? I also saw your reply about the XChange library for Java and it does seem incredibly bot for what I thought would be complex jargon. Any suggestions for a simple strategy to try and learn the API with? Maybe someone else here could suggest something? You might get some good suggestions. Took a look at it before and my concern is that the price you see there may not be the price you get bitcoin execution. A simple strategy could be MAV crossover or Donchian Channel, let me know how it goes as I'm interested too and will test other strategies. Do you have a tax bot to figure out the cap gains? I wonder how you plan to approach this if at all. I'm just going to declare anything I actually deposit into my bank account as capital gains or however it works in Canada. Is there an easy way to get an extremely simple bot up and running quickly? Is there an example github project somewhere or something? I think Gox had a list somewhere? XChange is very very easy to use if you know Java, there are lots of examples of how to use basic functionality. Thanks for the library, was amazed how quickly I could fetch ticker data. Yes, they've done an strategy job with it, and it's the same uniform API for every exchange. Like you said you work bids and asks some distance away from a price. How do you determine this fair price? Is it model driven or something you input? You mentioned it's a function of volatility but do you use a model or just do it based on your feel for the market? Is your spread always bot or do you ever ask for less edge on one side of the market? Are there times when you will leave the market or liquidate any positions? I dialed in the spread based on my observations of the market fluctuations when I was running the bot last year. The orders profit are backed off exponentially 0. This tries to accomplish two things: Again this is just based on what I was observing. I must have spent strategy equivalent of full-time weeks on it so far spread out over the last year. I'd call that a sell script, not a bot. If the trend keeps moving against your script you'll loose trading since there is no gurantee your buy back target will ever be reached. A bot can still be a bot without doing HFT, but that's just arguing semantics anyway. And anyway HFT is impossible on these exchanges, most API calls are cached for 10 seconds and there are pretty strenuous limits on the number of calls you can make per minute. That's the idea, I do want to sell off some of my BTC, and I'd rather it be done slowly and automatically than be tempted to panic sell. HFT just means you turn inventory over quickly. If you are strategy to profit by capturing part of the bid-ask spread you are almost certainly "HFT" by most definitions. You can still do HFT on a relatively slow platform. Say the market is If I place orders to buy Even black box HFT can have human traders who tweak model parameters to manage risk or handle unusual situation. And if you are cashing out, bot realize MtGox is virtually impossible to get money transferred back to the US, right? Have you tried just selling via localbitcoins. Yes, I adjust the orders by the trade fee. Gox and CampBX have terrible fee schedules, the other three are fairly good. I wish more exchanges would adopt a 'negative' fee for bitcoin limit orders and make people trading into the market pay a higher fee like that one new exchanges doesit would help even out all strategy volatility IMHO. It's pretty easy to cash out from Gox if you're patient, every now and then their prices equal those on the other exchanges and you can transfer out by arbitrage. Are you from the US? This seems like it could be a pain to keep track of when it comes time for tax season. I'm from Canada, and yes I still need to figure out the exact tax burdens. I think I'll just declare everything I eventually transfer to my bank account as capital gains or whatever our equivalent is. I've been thinking about this and I think the way to go is a weekly transaction on localbitcoins for cash as spending money. That way you can pretty safely avoid all tax. Of course it's tough to pay bot mortgage that way. It's shitty to duck taxes. This is what causes stupid laws. Pay your taxes for baby jeebus sake. I see that XChange's BitStamp module asks for a password. I thought BitStamp API only required the secret, key and the username. I think it might be legacy? But I haven't tried bitcoin without so I'm not sure. Say one exchange rises in price a substantial amount over the others, do you have any algorithm in place to relocate your BTC to that exchange to sell there? Or does your algorithm perform independently bot each exchange? Does your bot have a GUI, or is it terminal based? Do you get notifications via email of events occurring? Strategy no GUI, it just runs continuously and outputs its progress to the debug log. I could add e-mail notifications if I wanted to, I actually had that working in another Java program I wrote. Is trading bot one of the sophisticated bots which in order to force a buy keeps incrementing the bid price to be at the top of the order book? And vice versa for sells? It's a patient bot. Although it does do some limited adjustments to the prices of the trades I oversimplified a bit above, there are some other things I do to trading the profit. It's written in Java, and yes actually it would be nice to get it properly open-sourced, I'm useless at using git for anything more than basic source control. Do you know anything about Maven? The XChange framework uses all the dependency stuff from that with POM files and shit. I wouldn't be able to do anything just yet though because I'm using the develop branch of XChange for a bug in the Kraken module that will be fixed in the trading official release. Im a java programmer and could add some functionality to it even add an interface to view the exchanges in realtime. It could overall help the market to steady the price. I will definitely share it at some point, don't worry. It's just not ready for a first release yet. What will happen if a lot of people start using the same bot? Will the price swings become huge as the bots react to the bots react to the bots. Depends on the bot, I'm sure a lot of the volatility we're seeing right now is caused by bots trying to out-smart each strategy. But my bot places orders and waits for them to be filled, reducing the price swings by a tiny amount. How to download btcchina intraday data tick by tick, price and volume? I can use Matlab or Java. There's an example here in Java using XChange: I am starting strategy MS in CS soon, and at some point in the next 2 years or so I will be doing an project. I think i'll make some bots much like you are. This was an inspiring read, hopefully you're still around in 2 years so I can ping you for questions! Use of this site constitutes acceptance of our User Agreement and Privacy Policy. By signing up, you agree to our Terms and that you have read our Privacy Policy and Content Policy. Log in or sign up in seconds. Submit a new text post. BitcoinMarkets subscribe unsubscribe 35, readers users here now Slack Live Chat I already have an account Login Rules Be excellent to each other You are expected to treat everyone with a certain level of respect Discussion should relate to bitcoin trading Altcoin discussion should be directed to our Slack Group or the appropriate subreddit No memes or low effort content Trading that are solely comprised of memes, irrelevant youtube videos or similar will be bot No accusations of rule violations Calling out other users for breaking our rules is not allowed. Anyone have an idea when the STEEM withdrawals will be restored at Polo? This is an archived post. You won't be able to vote or comment. The bot has four main goals: Have you made more profits using this bot than buying and holding? Would you mind saying how much you have total? But sorry, the only answer I'll give to that is "I wish I had more": Haven't seen them elsewhere but I'm only registered on a few exchanges. I'll take a look at that website when I have a bot, going out for groceries right now. They're a fixed size as mentioned above. Not right now, I'm thinking about adding some basic checks in the future. What do you use for the GUI? I monitor them by skimming their debug log output every now and then. D Congrats on your work! I'm not pretending my bot is using any sort of smart algorithm. I would impulse-compile your source code so fast. Or is it patient and just waits for a trigger price? I always had the intention of writing my own so Bitcoin never looked into them. Posts are automatically archived after 6 months.
How I trade bitcoin for daily profit on Poloniex cryptocurrency exchange
How I trade bitcoin for daily profit on Poloniex cryptocurrency exchange
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If the Philosophy of the Inductive Sciences was, as we think, an erroneous philosophy, it contained much that was not unfit to find place in a better, and was often calculated to suggest deeper thoughts than it possessed of its own.
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