Topic: (Closed) Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform (Closed) - page 24. (Read 274808 times)

so its a plan within a plan! inception 2? x)

Trading outside of your plan is typically a bad idea. If you are going to trade outside your plan, have a plan for how your going to trade outside of your plan.

Put the bot on pause if you're going to do manual trading, or it'll immediately undo what you try to do.

Could I bet with my hands sometimes and keep bot running or its a bad idea?

Just wanted to say hi to everyone .

Been keeping up with the posts, great info from some of the pro's, you guys are great!

Pablo.

Nope, just an email from butterbot telling you that a sell order was triggered (EMA crossover).

Mt Gox? Depends on which country you're talking but not all though!

that is -50.00 not -0.50

I see no reason to trade on gox. impossible to get your money out in USD cash. unless you only want to deal strictly in BTC for the rest of your life...

 

No worries, happy to help

Well, the bot will be checking the live price and form a view based on what time frequency you have the bot set at. I've got the bot set at "2 hour" trade frequency, so it determines trend by examining prices every two hours. It's worth pointing out that Pablo (username: Fible1) has said previously that the bot is not ideally used as a high frequency trading bot (although I think there is some possibility of that feature being available in future updates) so you have to form a view on what you want the bot to do.

The bot comes with 'starter settings', that is, there's variables plugged in and if say, you have your time frequency set to "1 day" then he bot will only check prices once a day, so yes, it will be more clear what price trends may be forming over the previous days, for example day 1 price is $825, day 2 price is $800, day 3 price is $775, is a clear downward trend and no doubt the bot would sell once it determined the downward trend.

However if the bot time frequency is set to "1 hour", it will check the prices every hour, so if the bot sees a similar downward trend across three hours, say hour 1 $825, hour 2 $800, hour 3 $775, then it will operate in the same way as with the "1 day" settings in the paragraph above and trigger a sell, but the key point here is that with the shorter time frequencies, it could just have been market 'noise', or some people offloading a larger position or some other undetermined market factor that drove the price lower, so if you've got the bot checking every hour, it might be responding to intra-day market events, rather than identifying a proper trend. In our example, the "1 hour" bot might be selling at $775 only to find that the market rises an hour or two later and it will have to buy back your BTC and in the process incurring trading fees and mostly likely some small loss as the narrower time frequency bot settings make it over-sensitive to intra-day market fluctuations.

So there's a trade-off between how often you want the bot to keep tabs on the market, some people are happy checking the market once a day as they are trying to catch the larger trend up or down, some people look to identify shorter trends and have narrower time frequency settings. There's no 'right way', it depends on your own risk tolerance and your overall view of the market.

That's just the time frequency parameter of the bot, perhaps those people with more info to share can comment further on the threshold settings of the bot? I'm still yet to find settings that I'm entirely satisfied with and like many traders over the Christmas and New Year period, I had the bot turned off, then quickly turned it on when the BTC/USD price spiked to over $1000 before settling back down again to this rather frustrating $800-$900 price range.

It's probably worth mentioning that I trade the same settings on both MtGox and Bitstamp (I don't yet trade BTC-e, I have an account there, but I'm not fully verified or set up with that exchange) although I think that when I find settings that I actually like, I'll begin to tweak them individually for each exchange but being relatively new to the Butter Bot, I'm still trying to wrap my head around the subtleties of the settings and the vagueness/volatility of the price action on the market.





No, it's not a bad thing, you want your bot to sell from BTC into USD when the market drops. If the market dropped from around $800 to $100 you'd be fuming the bot didn't sell. What you want to happen now is that the market keeps dropping and that it might stabilise at say $700 and your bot buys back in, then the market begins to rise again. That's one of the ways it makes you money

Ok so, after 24 hours my bot tradded:

EMA diff is at -0.276% (1 BTC = 827.615 USD) at btce.

A sell order was triggered!

Your friendly trading bot.



Is this a bad thing?

Appreciated this great text. I'm not a 'pro' about market's/economy, i'm learning step-by-step... and I hope i will not make any sh*t with this

So, my bot could take some days till identify the market - All I need to do is keep it running and see how it goes?

If your bot bought at $843 and the price is now $824, the reason that it hasn't sold your BTC back into USD is that it hasn't yet identified the market in a defined downward trend. If the bot perceives a downward trend becoming established, it will sell your BTC back into USD with the view to buy back USD when an upward trend establishes itself later.

If you haven't already, it really is worth reading this whole thread, yes it's a helluva lot of pages, but it will be very worthwhile so that you can fully grasp the methodology of the bot, how it reacts in different situations and, perhaps, times that you should turn the bot off if the market is 'choppy' - that is trading flat or sideways - it's called 'choppy' as it tends to chop traders up producing multiple losses, limited price swings and indeterminate trend.

It's probably worth keeping this thought to the forefront of your mind, especially when markets are skittish, sideways or irreverant:

"The market can stay irrational longer than you can stay solvent."
 - John Maynard Keynes, British economist (1883 - 1946)

Good luck with it all.

My bot bought BTC at the price of 843$, and the price aight now is around 824$... I will need a couple of days/week's so the bot could start tradding (depending of the btc price) right?

10/21 has been a losing one for ages, too many people use it.
I have noticed pros have created a bot with some algorithm that makes bots using EMA lines to continuously lose small amount of money most of the time. Look at the charts, do back engine check from the last 3 months. Last time I checked max profit was around 5%. It would have been much more profitable simply holding, selling at ATH and buying again when lower. To say "do your back engine check for 1 year" is completely wrong as of course it will be profitable, 1 year ago BTC was a few dollars. You would have multiplied your money by thousands of percentage points if you had simply bought and held the btcs.


My bot has been off since December.

Buy 1: -50
Sell 1: -50

It's -0.5 or -50?

What about MtGox?

I have Short: 10 Long 21
Freq: 2 hour
Buy 1: 0
Sell 1: 0
Buy 2: 0.25
Sell 2: 0.25

4 weeks with no profit, only loss

Hey Pablo,

How's hosting coming along?

-NginUS

Not yet, but it's a planned feature in the works for a future release.

does this only work with bitcoins>?   how about litecoins?>  ppc?