Topic: Is there an option for automatic conversion of a coin if we set fluctuation ? (Read 51 times)
November 20, 2023, 01:30:30 PM
The auto conversion on fluctuations are not possible at any exchange, If you will be actively monitoring the market then you can use OCO order in Binance by calculating the target yourself or simply by using stop limit orders by calculating the percentage at which you want to buy/sell. But the automation is only possible if you have a trading bot through API. But need to choose the trading bot very carefully as there are so many available in the market and most of them have failed. If you are good at logics and statistics then you can build the logic. Else try grid sop trading as well. I have answered as per my understanding of your question and if this doesn't makes sense let me know.
November 20, 2023, 12:44:38 PM
Suppose, I buy XRP and set limit of 15% fluctuation. The coin should immediately be converted into Monero if this happens. Is there any exchange which offers this function ?
Fluctuations you mean volatility? Volatility means up or down, do you mean price up or price down? I don't think this can be automated but trading bot can do the magic through API connection, I don't think inbuilt trading bot like Kucoin will work but an external bot will do the magic.
Alternatively, you can calculate it yourself using trade set up. Exchanges like Binance has trading future tools, you can simply use their tools to set up your sell order of 15%, when you trace the price and have that 15%, you can just use that value as sell order and if that price is reached, it will automatically sell your coins for you with out any bot or even monitoring the trade.
However, will you have xmr at such price fluctuations, is there something I'm missing? There has not been any reason cent development around xmr, perhaps you should look into other altcoins that are having some speculations and updates, 15% is a little thing to get from some of these altcoins like Solana, Avalanche and xpr, they are having some recent development and new updates.
November 20, 2023, 09:03:20 AM
An exchange will be the one that can do that.
But like what was said above me, first you will need to find an exchange that offers that type of pairing.
Mostly, it's XRP/BUSD XRP/USDT and more stablecoins being paired with a volatile coin. Or XRP/BTC XRP/ETH. So if you are open to different options like what is said then you could just try pairing it up like that and set the sell point to 15 percent.
It won't be easy to find a pair like XRP/XMR doing trades especially if you are only setting your eyes to reputable exchanges.
I have also not found any centralized wallet that will do that kind of service yet. It would be easier if you just pick a stablecoin that you prefer and pair it with that.
But like what was said above me, first you will need to find an exchange that offers that type of pairing.
Mostly, it's XRP/BUSD XRP/USDT and more stablecoins being paired with a volatile coin. Or XRP/BTC XRP/ETH. So if you are open to different options like what is said then you could just try pairing it up like that and set the sell point to 15 percent.
It won't be easy to find a pair like XRP/XMR doing trades especially if you are only setting your eyes to reputable exchanges.
I have also not found any centralized wallet that will do that kind of service yet. It would be easier if you just pick a stablecoin that you prefer and pair it with that.
November 20, 2023, 09:00:06 AM
Suppose, I buy XRP and set limit of 15% fluctuation. The coin should immediately be converted into Monero if this happens. Is there any exchange which offers this function ?
How do you define a 15% fluctuation? It depends on the timeframe you're looking at. I'm guessing you want to set some kind of alert or trigger if the price jumps around that much. The more advanced trading platforms let you set stop-losses and take-profit orders and stuff like that, so when the price hits whatever target you picked, it'll automatically sell or buy or whatever. Thats probably the easiest way to automate what you're talking about and
However, if you need something more custom, you'd have to set up your own trading bot. It uses the exchange's API to check the prices and execute trades programmatically based on the rules you set up. So yeah easy way is use the platforms built-in orders. If you want full control, make your own bot. Just depends how sophisticated you want to get with it.
November 20, 2023, 05:33:46 AM
Suppose, I buy XRP and set limit of 15% fluctuation. The coin should immediately be converted into Monero if this happens. Is there any exchange which offers this function ?
https://www.kraken.com/convert/xrp/xmr
Kraken does have this trading pair but I am not sure its just a swap function or an actual trading pair but its not available on Binance and others. But the concept is simply you just need to create a limit order for what is your desired price whether its 15% or 30% or whatever the value, when the price range reaches that then the trade will be executed until that the funds you want to trade will be locked and you can cancel and modify the trade and price at anytime you want.
November 20, 2023, 02:39:22 AM
Suppose, I buy XRP and set limit of 15% fluctuation. The coin should immediately be converted into Monero if this happens. Is there any exchange which offers this function ?
You mean if you set on a sell order? You could set a stop loss and target sell, andcompute what is the 15% fluctuation of that in both up and down movement. Yes thats possible on exchange but its not depend on the percentage but only on the target price. Likewise, you could compute that yourself which is pretty basic math at all. November 20, 2023, 02:00:43 AM
Suppose, I buy XRP and set limit of 15% fluctuation. The coin should immediately be converted into Monero if this happens. Is there any exchange which offers this function ?
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