Topic: Battle of the Bots (Read 1826 times)
Last time this sort of thing was posted (which I believe was yesterday), the explanation was that retailers would want a low "last price" to be shown and sellers of Bitcoin would want a high "last price" to be shown, so they both have bots that fight each other over the "last price".
Sorry to necro this post, but I didn't want to start a new post to ask the last contributor to this thread to explain himself a bit more. I am not a day trader myself and don't understand the in and out of it, but I am fascinated by it and want to understand it better. Care to elaborate for us laymen?
sr. member
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The king and the pawn go in the same box @ endgame
you really want to get messy, use national fiat currency exchanges, then trade in bitcoin in high/low currency spreads. That guy would be nickel and dime-ing himself to happiness. You day traders might have a clue what the hell I'm talking about
It looks like somebody else who knows his/her bots has come along and with a little help from excel has calculated the % variables used in the scalping algo. They've used this knowledge to write a script to take advantage of the original scalping bot... in effect, he's stealing the small margin from the original bot on each trade.
This is a bit over my head, but if accurate sounds like a fantastic thing to eventually discourage this type of behavior.
Either that or its just the same bot which has been coded badly and is bugged, or has failed to recognise the trades that its placed itself.
It looks like somebody else who knows his/her bots has come along and with a little help from excel has calculated the % variables used in the scalping algo. They've used this knowledge to write a script to take advantage of the original scalping bot... in effect, he's stealing the small margin from the original bot on each trade.
This is a bit over my head, but if accurate sounds like a fantastic thing to eventually discourage this type of behavior.
Is there really a competitive advantage when they start acting like this? I never understood how you could make anything playing with such small amounts.
There's somebody who is running a scalping bot to take advantage of the spreads. This is pretty easy to see as trade sizes are consistently small and tend to lead the main trades by a small amount each time (often on both the buy and ask side).
It looks like somebody else who knows his/her bots has come along and with a little help from excel has calculated the % variables used in the scalping algo. They've used this knowledge to write a script to take advantage of the original scalping bot... in effect, he's stealing the small margin from the original bot on each trade.
Ha! I am new to Bitcoin and it just keeps getting more and more interesting. So much to learn and this world is much more accessible than FIAT currencies.
Is there really a competitive advantage when they start acting like this? I never understood how you could make anything playing with such small amounts.
There's somebody who is running a scalping bot to take advantage of the spreads. This is pretty easy to see as trade sizes are consistently small and tend to lead the main trades by a small amount each time (often on both the buy and ask side).
It looks like somebody else who knows his/her bots has come along and with a little help from excel has calculated the % variables used in the scalping algo. They've used this knowledge to write a script to take advantage of the original scalping bot... in effect, he's stealing the small margin from the original bot on each trade.
Is there really a competitive advantage when they start acting like this? I never understood how you could make anything playing with such small amounts.
They were modeled on the Williams sisters. 
lol
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