Topic: (Closed) Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform (Closed) - page 120. (Read 274811 times)

I have just bought a copy of the software and received it. Will post review within the next week, should be interesting!!

I wrote this list to a new customer and I thought it would be valuable to have it on the thread:


Dear XXX,

I have a couple of suggestions while we wait for your payment to verify:

1. Read at least the first couple of pages of Gomboo's journal that I linked you earlier to get a feel for the trading strategy.

2. Get a free account at postmarkapp.com and set up a virtual server so the bot can email you.

3. I wouldn't suggest messing with the 10/25 long and short values that come preset until you have a thorough understanding of EMA trading strategy.

4. I would set all thresholds to .25 and let the bot run for 1-2 days with VERY LITTLE cash in the account. Then what you need to do is identify what you think your values should really be so that the bot takes advantage of the current opportunities in the market and revisit these values every so often (I set mine a couple of weeks ago and haven't changed them yet). I won't tell you what mine are because thats where our interests start to conflict, but I will give you this pointer .25 for the final buy threshold is SLIGHTLY high in my opinion and .25 for the final sell threshold is VERY high in my opinion. You will be able to make your own decisions here one you let the bot do a few trades and you identify missed opportunities because of the thresholds. This will take a few days.

5. When the bot first loads and you enter your keys for all the services for the first time, give it 5 minutes or so to load, if it doesn't load then reset it and give it another 5 minutes. I've NEVER had it take more than two tries to load after initial setup.

If you have ANY questions, let me know before you mess with the settings, I'm here to help.

Best.

We just had our third customer! Price is now officially 99 USD. I may be inclined to make a smaller discount for people who write reviews, just PM me.

David,
   Regarding the YubiKey issue, you really won't have a problem, the bot uses API access which is different from log in. You should in general NOT use programs that ask for your login credentials. API access is different in that you can limit access to ONLY let the bot read prices and trade.

To get a full overview of the trading strategy I suggest this link: https://bitcointalksearch.org/topic/goomboos-journal-60501

The great, great, grand daddy of my bot had its birth and currently lives in this thread: https://bitcointalksearch.org/topic/chrome-browser-extension-mtgox-trading-bot-67591 and it has been widely disccussed.

Now to your questions:

Once the buy/sell pair is executed it will measure the market at the time you set (I use thirty minutes) and take a measurement of the difference in EMA values. The threshold EMA values are set by you and they are what the bot trades by. You have to really take a look at the first link to understand the strategy but basically it identifies trends. The bot will judge the trend as an expressed percentage in the difference between EMA values (10/21: but this can be modified by you )and buy and sell accordingly.

Now to your second question: the bot is peridoically calculating the EMA values, it keeps track of them to identify trends, you can't really do this by hand and set buy and sell orders in any remotely comfortable way. You would have to be on your laptop doing calculations for every time frame. Thats the core of the bot, it identifies trends and acts on them 24/7. It has complimentary features, like email notifications, graphs and EMA value and threshold tables but at its core it is designed to act on trends. It uses time frames to ignore the normal ups and downs of the market thats why a medium time frame is generally better than a 1 minute time frame.

To give you an example: it got me out of the crash a couple of days ago at around 143 if I recall correctly and it hit 85, it didn't buy again until it hit 96, but then it hit 112 I think and it sold again so that was a profitable day. It wont get you in at the lowest price and out at the highest, but it will get you in at a lower price and generally sell at a higher if the market is going up and not sell to low if the market is crashing. Its been very profitable to me so far.

A final note: I don't use this as a high frequency trade bot, you can set it to 1 minute and have it trade that way, but I use it with a 30 minute setting you should see about 2-3 trades every 24 hours. I haven't messed with the high frequency feature so I'm not saying that if thats what you want do that you shouldn't do it, I'm just saying that it has been profitable to me in the way I have described.

Let me know if you have any further questions.

The question was not clear, sorry. I use a yubikey to login to mtgox. I just wanted to make sure that your extension worked in that login method.

Would you have any documentation or a sceencast of it in action? I am interested in it and want to learn a little bit more.

Are the buy and sell thresholds based on percentage changes or fixed dollar amounts?

Once a buy and sell pair is executed - does one then set new levels or does it auto trade at the spread continuously? I am not sure if I am phrasing the question correctly, but I am trying to differentiate what your extension does that can not be accomplished be placing an order at a given price either for a buy or sell directly on MTGOX and then waiting for the price to drift and fill it. I ask this question in earnest as your product sounds very interesting


ps i would be willing to write a review

Thanks

David

*****************
Starter Settings
*****************

We recommend the following starter for all exchanges in the current market:

Short EMA: 15    Long EMA: 31
Buy 1: 0    Buy 2: 1
Sell 1: 0    Sell 2: 1
1 hour time window.

Please also make sure to set a tick offset.

Please contact me if you have any doubts:).

Pablo.

******************
Closed
******************
Please note that Butter-Bot is no longer active.

  
****************

Testimonials:

1 "Its a very very good introduction to bitcoin trading using a well-known trading algorithm.
Recommended."
empoweoqwj, bitcointalk.org

2. "So far I am very pleased and nearly willing to commit even larger amounts of money to this bot as it has already paid for itself."
lalicat, reddit

3. "Based on the functionality and the enthusiasm and friendlyness of the person who wrote it, I would highly recommend it if you're looking for an automated trading bot..."
http://btclag.org/?p=211

4. "And i have to say they do live up to their support claims. They are very prompt in there response and really helpful.
After i reported a bug they released a update within 24 hours."
bizmar, bitcointalk.org

**************
NEW RELEASE
**************

V2.4 has been fully released!

Change log:

* Allow for configuring exchange specific trade settings - This is the biggie! You can now set override settings for each exchange so that you can trade each exchange individually.

* Bot is disabled on installation by default.

* Graphs now show override settings

* Fixes for trading issues on Mt. Gox

* You can turn trading at exchanges ON and OFF independently

* Asynchronously load graph images - You will no longer have problems loading graphs when BitcoingCharts.com is down.






************ Announcement **************

V2.1 has been fully released! FREE UPGRADE to current customers.[/u]

Includes:

* Backtesting of user strategy settings

* Bitstamp integration

* Time offset allows for ticking n minutes before/after the normal tick

* Several minor UI improvements and bug fixes

* Color codes consider user settings instead of the fixed 0.25% values

* Add 2, 6, 12, and 24 hour intervals

* Adapt timespan of graphs to trade interval

* Ability to select a "default" exchange











And much MORE!

*******************************

EDIT: The easiest way to get the bot is to go to our new web store: www.Butter-Bot.com or contact me at [email protected].

RUNS ON: Windows with Chrome Installed, OSX with Chrome Installed, and Linux with Chrome and X Installed.

EDIT: Please try out the suggested settings in post #16 below.

EDIT: Please keep in mind that with your purchase you receive unlimited access to skype with us, email us, and call us during the setup and initial operation phase of your bot, free! I am here to serve your needs and make your experience as profitable as possible! .

We are here to help so whatever questions you may have, just let us know .

Please remember that the only safe place to get your copy of Butter-Bot is www.Butter-Bot.com.

Best,
  Pablo.
[email protected]