Topic: Bot to trade DAI and USDT (Read 182 times)
I forgot to mention I'm stationed in Korea and have access to some foreign trading sites through my Korean wife's identity. So hopefully I can find some liquidity there.
Thats why I've thought about DAI-USD as another close to $1.00 trading pair instead of tether. Plus on the tether trade cant you just set a stop limit of .97cents to make sure you're good to go in terms of stopping losses.
I'm thinking of testing this idea in a bot then putting 6 figures into it to trade on each buy and sell. Really try to swing some markets.
I'm thinking of testing this idea in a bot then putting 6 figures into it to trade on each buy and sell. Really try to swing some markets.
Hello All, Ive been trying to investigate the possibilities of setting up trade bots to buy and sell the fluctuations of stable coins like DAI and Tether. Can anyone tell me why its a bad idea? I think theres profit in the variable 0.01 to 0.001 fluctuations in price that happen daily as the prices push and pull across the $1.00 dollar line. I wonder about the ability of bots to trade to the thousandths or hundredths of a penny for profits.
Can there be profits made buying sub 1.00 and selling above 1.00? I have a good amount of money to put into the bot.
Can there be profits made buying sub 1.00 and selling above 1.00? I have a good amount of money to put into the bot.
Yes, absolutely. You will be competing with lots of other arbitrage bots who are already exploiting the spread. You need to calculate the minimum gain needed to beat trading commissions, then use that as your minimum buy/sell spread. The most profitable strategy would be to buy and sell in increasingly larger lots as price deviates further and further from $1. Then when price reverses in your favor, start repairing the position to zero.
Keep in mind the third party risk involved with Tether. There are active regulatory investigations (including criminal ones) into Tether as we speak. It's probably riskier to hold USDT than any other stablecoin.
Hello All, Ive been trying to investigate the possibilities of setting up trade bots to buy and sell the fluctuations of stable coins like DAI and Tether. Can anyone tell me why its a bad idea? I think theres profit in the variable 0.01 to 0.001 fluctuations in price that happen daily as the prices push and pull across the $1.00 dollar line. I wonder about the ability of bots to trade to the thousandths or hundredths of a penny for profits.
Can there be profits made buying sub 1.00 and selling above 1.00? I have a good amount of money to put into the bot.
Can there be profits made buying sub 1.00 and selling above 1.00? I have a good amount of money to put into the bot.
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