Topic: How anyone else noticed the poloniex XRP/BTC exchange is a fraud? (Read 1045 times)

Buy low, sell high is simplified but it's still correct.  Buy low doesn't mean buy at any time and wait for it to go up - the phrase clearly means to buy at the bottom and then wait for it to rise.  All you have to do is find a more predictable coin that goes up and down regularly and doesn't completely collapse when it goes down or get too mental a pump when it goes up.  There are several coins like that.

There's also buying low and selling high when a coin has potential (it's a good idea and could have its price rise a lot from demand, or could just be pumped), but that's unrelated to bot trading because bots are mostly based on buying and selling stable coins based on minor variations during the day.

actually this is what people say when they are too lazy to go into details.
the idea is to buy low when you know price is going high and then sell when you know price won't go any higher.
you can't just put orders and think they MUST be filled.

for instance in Ripple and Ethereum the pumps are over so there is no low anymore. all prices are high and a time for sell. yeah it may bounce back sometimes but the general flow right now is dump-dump-dump.
and for litecoin, nothing is clear at the moment and it is best to stay away.

and remember this is altcoin market we are talking about, it is full of manipulation. the margin trading works in a more logical market not where there is pump and dumps going on.

You can either make your own using poloniex api or buy GUNBOT license https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214

Margin trading on alts during pump and dump involve lots of risk and you have to be careful about your liquidation level. Don't put all your bitcoins/alt in single margin position, you have to keep more in margin balance than what you have put into an order. Good luck...

As is most of the rest of the their site, part of the time. I've seen it happening between 3-7 AM Pacific time most days. Like on the right side you have your buys, or sells, whichever you prefer. The list will either decrease or increase in a linear fashion, meaning the buy and sell orders will fall almost directly next to each other, never stopping (except to let trades go through.) The idea is that you buy low and sell high, repeating the process over and over again to profit. I don't know if it they do it on all exchanges, but I know Litecoin, Ripple, and Ethereum for sure. Unfortunately some jackass with a bot has high jacked the process in the Ripple exchange. You can probably go check it out now. And besides, depending on the exchange, it's kinda slow. I made an entire litecoin trading back and forth 40 of them last night.

But another issue. I'm fine with bots in general, but not to the point they eliminate all human interaction. I borrowed on margin when litecoin first took off. If you look at the peak, after that there is an almost choreographed fall. I'd think eh, shit happens, but it fell EXACTLY to my margin maintenance number when my account was liquidated before turning around. Now I had plenty of litecoin on hand to prevent such a fall. The bot would not all me to enter any data. I'm bitter of course, but there's not a god damned thing I can do about it. Just keep an eye out for extreme market manipulation, or, possibly ways to get rich quick. If you have a bot that automates the process I'm talking about, please for the love of God let me know!