(Closed) Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform (Closed) - page 56.

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: bigb159 on November 15, 2013, 12:47:04 PM

Quote from: velacreations on November 15, 2013, 11:55:04 AM

Quote from: fible1 on November 15, 2013, 11:34:34 AM

Hi BigB

,
Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all

.

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

Thanks, I've been running Butter Bot since 10AM or so (~4 hours) and not a single trade has executed. Normal?

Hey

,
EMA (the bot's algorithm) is a trend seeking algorithm, that means that the bot seeks to get in/out of up/down trends as quickly as possible; thus the bot will only trade when the market reverses itself.

BTC has been climbing slowly/been mostly flat for the past few days and thus the bot is holding a "buy" command, therefore you would not expect to have seen a trade yet. When the market reverses itself you will see a trade and the bot will sell your BTC for Fiat.

This is not a High Frequency Trader (HFT) mostly because we have tested these strategies and they tend to have very poor results. With EMA, the fewer trades you see, the better, because it means that trends are manifesting themselves and making you money. Many trades in a short period of time could mean the bot has been triggered by a false signal and could end up costing you fees.

I hope that answers your questions, please do not hesitate to let me know if you need anything at all

.

Pablo.

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: joehal on November 15, 2013, 12:08:37 PM

Is there a way to set the butterbot to never sell at a loss ?
For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

Hi Joehal

,
This feature is very requested and it's not hard to code but we have not included it for a simple reason: it assumes that in the immediate term, BTC will always go up. Regardless of our long term bullish or bearish positions on BTC, it's a bad assumption to make. Suppose it's April and BTC is trading at 240, you purchased at 240 but then BTC begins to crash. Butter will not sell because of the "Do Not Take a Loss" command and by the time it hits 120 you have lost half your net worth.

The argument can be made that over 6 months you may make your money back plus a profit but that's not a healthy assumption to make with any commodity, nor is it really a trading strategy. This feature is so requested though that we may include it at some point with an advisory I suppose.

I hope that answers your question, please do not hesitate to let me know if you need anything at all

.

Pablo.

bigb159

full member

Activity: 163

Merit: 100

Quote from: velacreations on November 15, 2013, 11:55:04 AM

Quote from: fible1 on November 15, 2013, 11:34:34 AM

Hi BigB

,
Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all

.

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

Thanks, I've been running Butter Bot since 10AM or so (~4 hours) and not a single trade has executed. Normal?

joehal

member

Activity: 93

Merit: 10

Is there a way to set the butterbot to never sell at a loss ?
For example right now the bot can buy at 400 and sell at 390 - depending on the settings and the chart.

But can I set it in a way if it buys 5 btc at 400 - to never sell those 5 btc below 400 ? Only above

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: fible1 on November 15, 2013, 11:34:34 AM

Hi BigB

,
Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all

.

Pablo.

I look forward to this option, as I am not online all day, everyday, and it would be great to have the bot running even when I'm not around.

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: bigb159 on November 15, 2013, 08:58:04 AM

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

Hi BigB

,
Yes, that's exactly what that means, when hosting is live, you will be able to run Butter from our servers through a web interface. I hope that answers your questions, please do not hesitate to let me know if you need anything at all

.

Pablo.

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: NginUS on November 14, 2013, 11:59:24 PM

Quote from: velacreations on November 14, 2013, 11:41:02 AM

Quote from: velacreations on November 11, 2013, 05:47:44 PM

7900% beats B&H by almost 200%

Hi,

I just changed from the recommended settings for BTC-e to these settings that were kindly posted here for us which have a much greater profit than the official settings do. I've even managed to squeeze an extra 1000% out of it by playing with tick offset, so I'm happy with it & thanks for posting.

I'm concerned however that with the larger trade frequency set I may miss opportunities which happen quickly due to the upcoming Senate hearings. Is that what happens with the bigger values there, or am I mistaken?

How will these new settings handle flash situations in the market? Will they miss out?

I guess maybe I'm not understanding how the bot pays attention to the market, if its eyes are open looking at the price all the time, or if it just looks now & then, in which case it could miss alot. Could someone explain that to me please?

Thanks.

Hi Ngin

,
Yep, the larger threshold values require the movements to be bigger for the triggers to happen, the higher time intervals mean that more time elapses between each time Butter polls the market. All in all, this kind of tweaking will work on an individual basis depending on whether you see a flash crash, a flash crash with a quick rebound, a pure surge, etc.

You can go mad trying to tweak your settings for what you perceive each individual market to be, all in all it's better to look at your trades in aggregate and try to find proper settings for the long term average.

Please let me know if this does not answer your question.

Pablo.

KamiN

newbie

Activity: 23

Merit: 0

Quote from: MBH on November 15, 2013, 09:29:57 AM

Quote from: PuertoLibre on November 15, 2013, 12:44:02 AM

Quote from: NginUS on November 14, 2013, 10:52:22 PM

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

It's a very nice idea.

Hello,

I'd strongly suggest against putting your bitcoin wallets in hosted virtual machines / virtual private servers (VPSs), as the owner of such infrastructure has full access to the VMs and can copy your wallets and use the funds at any point.

You don't really need the wallets until you want to pull out the BTCs, if you ever want to. So the wallet doesn't have to exist on the VM. Just let the bot run on the VM and make sure to restrict the API key to disallow it from withdrawing any funds.

It might be cheaper to buy a RaspberryPi per person and run them from home.

I think he meant his own VMs, as in running an ESXi/Xen server at home. I do the same for my own butter bot at the moment, so it can run 24/7.

MBH

newbie

Activity: 51

Merit: 0

Quote from: PuertoLibre on November 15, 2013, 12:44:02 AM

Quote from: NginUS on November 14, 2013, 10:52:22 PM

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

It's a very nice idea.

Hello,

I'd strongly suggest against putting your bitcoin wallets in hosted virtual machines / virtual private servers (VPSs), as the owner of such infrastructure has full access to the VMs and can copy your wallets and use the funds at any point.

You don't really need the wallets until you want to pull out the BTCs, if you ever want to. So the wallet doesn't have to exist on the VM. Just let the bot run on the VM and make sure to restrict the API key to disallow it from withdrawing any funds.

It might be cheaper to buy a RaspberryPi per person and run them from home.

bigb159

full member

Activity: 163

Merit: 100

Hi there - running the bot off my laptop entails that I keep it on and Chrome open as far as I understand. I am reading comments about a planned hosted solution - will this mean you'll provide a web interface to manage our bot settings on your server?

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: NginUS on November 14, 2013, 10:52:22 PM

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

It's a very nice idea.

NginUS

full member

Activity: 190

Merit: 100

Quote from: velacreations on November 14, 2013, 11:41:02 AM

Quote from: velacreations on November 11, 2013, 05:47:44 PM

7900% beats B&H by almost 200%

Hi,

I just changed from the recommended settings for BTC-e to these settings that were kindly posted here for us which have a much greater profit than the official settings do. I've even managed to squeeze an extra 1000% out of it by playing with tick offset, so I'm happy with it & thanks for posting.

I'm concerned however that with the larger trade frequency set I may miss opportunities which happen quickly due to the upcoming Senate hearings. Is that what happens with the bigger values there, or am I mistaken?

How will these new settings handle flash situations in the market? Will they miss out?

I guess maybe I'm not understanding how the bot pays attention to the market, if its eyes are open looking at the price all the time, or if it just looks now & then, in which case it could miss alot. Could someone explain that to me please?

Thanks.

vesperwillow

hero member

Activity: 616

Merit: 500

Pablo, yeah they're back now.

NginUS

full member

Activity: 190

Merit: 100

I was going to build trading packages in VM's for my little cousin's for their college funds, but after talking to their parents, who would rather see me spend that money on myself, I won't be doing so anymore. Oh well. Its that thought that counts right?

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: NginUS on November 14, 2013, 08:45:19 PM

Pablo,

'd like to inquire about how I can do the folllowing. I'd like to give to some family members for Christmas, a fully functional bitcoin trading system, such as I have myself.

I would be hosting their instances in each their own VM which would have wallet, butter bot, OTP software installed.

I'd set up accounts for BTC-e, and deposit $100 to start with.

I'd create Coinbase accounts for them so the can liquidate to their own baks.

My question to you is, when I'm buying all these 1 year subscriptions, using my referral code over & over again probably won't work? Would my family & I be eligable for as many referral bonuses as there are gift bot purchases?

Hi Ngin

,
If I understand correctly you want to buy a couple of licenses using your referral code?

I don't see a problem with this, you will be able to collect your free one month rewards for every single purchase, no problem

.

If I have misunderstood, please let me know.

BTW: Putting aside our software is in the bundle (thank you for thinking of us

) I think that is a genius way to introduce people to Bitcoin; I will try to come up with something creative like that to give my family members for Christmas and introduce them to Bitcoin; though knowing me it will probably be just a paper wallet Tongue

Please let me know if you need anything at all.

Pablo.

NginUS

full member

Activity: 190

Merit: 100

Pablo,

'd like to inquire about how I can do the folllowing. I'd like to give to some family members for Christmas, a fully functional bitcoin trading system, such as I have myself.

I would be hosting their instances in each their own VM which would have wallet, butter bot, OTP software installed.

I'd set up accounts for BTC-e, and deposit $100 to start with.

I'd create Coinbase accounts for them so the can liquidate to their own baks.

My question to you is, when I'm buying all these 1 year subscriptions, using my referral code over & over again probably won't work? Would my family & I be eligable for as many referral bonuses as there are gift bot purchases?

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: vesperwillow on November 14, 2013, 07:08:25 PM

Well it'll go sharply.

Up OR Down. lol.

Pablo, my graphs disappeared for some reason. I restarted the bot and everything, they simply aren't showing.

Vesper,
Are they back or are you still having the issue? Email me if you are still having problems with the graphs please, and I'll take care of you post haste

.

I personally think the market is not going to react to the hearings, but that's just my personal opinion

. So one of us is bound to be right.

Pablo.

vesperwillow

hero member

Activity: 616

Merit: 500

Well it'll go sharply.

Up OR Down. lol.

Pablo, my graphs disappeared for some reason. I restarted the bot and everything, they simply aren't showing.

NginUS

full member

Activity: 190

Merit: 100

Apparently in the U.S. there are going to be Senate Committee hearings this coming Monday & Tuesday to decide how to regulate bitcoin & virtual currencies. They don't want to be playing 'Whack-a-Mole' with the black market websites I guess. I read that NY state is considering selling businesses who accept btc what they're calling a 'bitlicense'.

So I'm imagining we may very well see a buying opportunity come Monday. What are other people's thoughts?

fible1

legendary

Activity: 1183

Merit: 1000

Quote from: vesperwillow on November 14, 2013, 03:12:25 PM

They're not /that/ interesting once you factor in the hefty btc price jump variance. Remove that and you're left with 30-40% trade profits, which many other settings are also providing. They're good, I'm just saying it's not a goldmine unless you did this exact thing starting over a year ago.

If btc holds at current values for the next year (hypothetically), for example, the trade profit would be single digit.

It's a great example of the power of the bot long term, which is the point of it to begin with.

Hmm, not sure I agree with you there as the trading volatility is an inherent part of the system, not a real far out event. Still, my point was to counter the idea that Butter only focuses on Fiat profit, it's job is to maximize depending on the market trend as shown above

.

Quote from: vesperwillow on November 14, 2013, 03:14:39 PM

Pablo, how is the bot downloading the trade data? I've been working on something and would love the raw data it uses to create the EMA output.

Sure, let me talk to the developer and see what we can do

. Drop me an email and I will be glad to get back to you about this ASAP

.

Pablo.

Topic: (Closed) Butter Bot!: Premier Bitstamp, and BTC-E EMA Trading Platform (Closed) - page 56. (Read 274808 times)