Topic: Bittrex Market Maker Bot (Read 4135 times)

Introducing Picasso, the altcoin market maker bot for Bittrex.



Have you ever wanted to be a Market Maker on an altcoin?
Now you can, with ease!

Picasso paints graphs using a detailed settings page of 3 different order types in collaboration with a targets page.

It is much easier to show you his settings and the process rather then try explain how he will paint graphs for you.

So let's get started...

The first and most important thing, is setting up his targets to create the waves that are necessary in a market.
Targets work off of a % basis, and determine what Picasso will do over time.

Once you have created your account on https://auto.exchange.pink/ and have activated Picasso, you'll need to set him up.
Click on the configure button.





Before getting in too deep with all of his settings, it is important to set and understand your targets.
Click on the link to the top right for targets.


Once you're on the targets page, you'll be presented with 2 blank tables. The one on the left is where you'll input your targets as a % value, and the one on the right will convert them to Satoshis upon saving.

In the following example, there is a starting price of 105 SAT's and you'll see that my targets are set to achieve a 2-300% increase in the price over the span of about 20 targets.



You know the coin you're about to run it on, so it's best to spend some time editing and saving your targets to see the Satoshi values before proceeding to run him. This can be used to paint any graph you want. You can set 1 target and reassess upon completion, or set 100 targets and check up on it every now and then.



Now that you've set your targets and Picasso knows what type of graph you'd like to paint, it's time to tell him how.

So let's go back to the main settings page by clicking the link in the top right corner.

The first block [generic] is whether you want to run it live, or just in test mode. And whether or not you'd like it to output all his actions.





This next block is where you set the coin code and your api keys.





The next option is [book], and only has one value to input. Bittrex will allow up to 500 orders open, and Picasso divides that by half allowing 250 per book (buy/sell). We have maxed it at 249 just to be safe
Once this setting is achieved, Picasso will begin cancelling other orders in order to be able to place anew. So if you're set only to 50 orders, once there are 50 in the books, he will cancel one then place a new one.





Next up are the settings that will accommodate your targets, which will be followed by the 3 different order types. So I will explain them now.
He places orders (market orders), undercuts (limit order undercutting the top order in the appropriate book), and overcuts which places limit orders in the books beyond your next target.
So let's say the current price is 100 SAT's and your next target is 80. Picasso will undercut and place market orders into the buy book to achieve your 80 SATs target. The whole time he is doing this, he is also placing/filling the buy book with orders at 80 and below in the event that the market moves with you, you will catch a bunch or cheap coins before bouncing back up.

So back to the next section of the settings where the picture becomes much clearer.

First is your goal. This is in seconds, so 3600 = 1 hour. He will dedicate 1 hour to each target, if a target is achieved early, he will sit back and hope to catch a dump or pump (depending on the direction he was headed). This will make a little more sense once you understand the full extent of his order types.
Second is your spread, Picasso will undercut in the correct direction until he sees this spread. Once the spread is achieved he will begin placing market orders. Once the market orders increase the spread again, he will revert back to undercutting. Doing his best to maintain your spread.





Orders:
These are the market orders that will be launched once your spread has been achieved.
Everything about Picasso is best used in a wide range to help keep yourself hidden in the books.
Quantity is the size of the orders he will place. 0.0005 being the Bittrex minimum to as much as you feel comfortable per order. In the image below he will market sell/buy anywhere from 0.0005BTC to 0.12345678BTC. He will also do this randomly between the 2 time settings, in my settings he will place a market order every 30 seconds to 1 minute.



Overcuts:

Read above for quantity and time settings.
These are the orders that will be placed beyond your next target in hopes that the market moves with you before you change directions.
The only setting that is new here is how far beyond your target you would like to place your overcuts (landmines).



Last but not least,
undercuts:

These will be placed in order to maintain your spread setting. The setting specific to undercuts is by how much you wish to undercut the the current top order. Again, this is set as a range to keep things random and undetectable.
In the following image, every time he'd undercut it would be by 1 to 13 SATs.





Picasso can be found on the Pinkcoin bot website https://auto.exchange.pink/
Picasso costs 5BTC to unlock permanently.

We are constantly upgrading our bots, maintaining and improving them. If you have any more questions about Picasso, or any of our other bots, please feel free to contact us.