Let's say, I create a ping pong order in DOGE/LTC marketplace with only the minimum guaranteed gain set, throw in a sell order and a buy order at the suggested prices (Sell DOGE at .0001674LTC and buy DOGE at .0001670LTC).
So for a successful ping-pong to be executed, the price of LTC has to decrease to .0001670, (creating my purchase), then has to increase to .0001674 (to create a sell), thus completing the ping-pong?
What then, if prices of ltc goes up .0001800; are my trades going to be worthless and I then have to recalibrate the Pingpong order?
I don't understand exactly how the 'pinging' and 'ponging' work and there doesn't seem to be any good documentation. Any help?
Here is some log info kind of showing what happens:
2014-01-15 21:04:11| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:04:11| PONG-29767276 : Buy [email protected] Current 19.98349326 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:04:11| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:04:11| PONG-29767397 : Buy [email protected] Current 22.25259115 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:07:33| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:07:33| PONG-29767276 : Buy [email protected] Current 19.98349326 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:07:33| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:07:33| PONG-29767397 : Buy [email protected] Current 22.25259115 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:11:08| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:11:08| PONG-29767276 : Buy [email protected] Current 19.98349326 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:11:08| Cannot Create/Recreate Order Reference Price : 0.00002698 VS 0.00002668 % Difference is 1.12443778 Must Be At Least > 3.0
2014-01-15 21:11:08| PONG-29767397 : Buy [email protected] Current 22.25259115 | Order Status Not Changed No Condition For Retry Calculation.
2014-01-15 21:13:43| PONG-29767276 : Buy [email protected] Current 0.00000000 | Order Is Full Close (Current Quantity = 0)
2014-01-15 21:13:43| PONG-29767276 : Buy [email protected] Current 0.00000000 | A Trade Has Occured : Buy Quantity 19.98349326 Unit Price 0.00002605
2014-01-15 21:13:43| PONG-29767397 : Buy [email protected] Current 0.00000000 | Order Is Full Close (Current Quantity = 0)
2014-01-15 21:13:43| PONG-29767397 : Buy [email protected] Current 0.00000000 | A Trade Has Occured : Buy Quantity 22.25259115 Unit Price 0.00002605
2014-01-15 21:13:44| Remove PONG Trade Buy - [email protected]
2014-01-15 21:13:44| Remove PONG Trade Buy - [email protected]
2014-01-15 21:14:25| PONG-29767276 : Buy [email protected] Current 0.00000000 | Remove From Queue
2014-01-15 21:14:25| PONG-29767397 : Buy [email protected] Current 0.00000000 | Remove From Queue
2014-01-15 21:16:27| Check Buy/Sell Pools.
2014-01-15 21:16:27| Try To Create new Order Sell [email protected]
2014-01-15 21:16:28| PING-29800594 : Sell [email protected] Current 40.73491299 | Order Successfully Created ID 29800594
2014-01-15 21:16:28| PING-29800594 : Sell [email protected] Current 40.73491299 | New Ping Order Created From Sell Pool
2014-01-15 21:19:50| PING-29800594 : Sell [email protected] Current 40.73491299 | Try to Delete/Recreate, New Values : [email protected]
2014-01-15 21:20:30| Try To Create new Order Sell [email protected]
2014-01-15 21:20:31| PING-29801454 : Sell [email protected] Current 40.73491299 | Order Successfully Created ID 29801454
2014-01-15 21:23:13| PING-29801454 : Sell [email protected] Current 40.73491299 | Try to Delete/Recreate, New Values : [email protected]
2014-01-15 21:23:54| Try To Create new Order Sell [email protected]