Who's bot? made mtgoxlive price line very thick, darn! - page 2.

notme

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Quote from: DeathAndTaxes on December 21, 2011, 09:27:33 AM

I understand you can ignore it but ignoring it adds nothing. Basing your analysis on such an obviously manipulated trade seems to not provide any value either. At best you ignore it and are not better than if the bot didn't exist.

I think you are vastly overestimating the cost of that stupid bot. The transaction size is 0.0000001 BTC. Lets say it trades once per second 0.0000001 * 60 * 60 * 24 * 365 * 0.6% = 0.019 BTC per year in trading fees. How much trading losses is the bot racking up? I don't know but lets say it is 10% of principal. That is <1 BTC per year.

I never said there isn't something to be gained from it. It distorts the charts and most people won't filter that out. That misinformation has to be worth 1 BTC per year right?

If it is that cheap, and you want rid of it, the best way would be for 10 or so people to run the same bot. MtGox would quickly adapt to prevent this behavior.

Hawkix

hero member

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I would sugget MtGox to start taking minimal transaction fee, like 0.001 BTC, regardless of the size of the transaction. Will not hurt anyone .. except that stupid bot(s).

DeathAndTaxes

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Gerald Davis

Quote from: notme on December 21, 2011, 09:19:50 AM

You can ignore those trades in your analysis you you want. It is very easy to filter out this type of "noise" since it is very ordered. This is nothing like adding distortion to music. It shows the available prices over time, which indicates where people are willing to buy/sell at any given time. If the prices available are on average much higher than the volume weighted price than there are buyers buying at the low end of the volatility. If the prices available are much lower than the volume weighted price than there are sellers selling at the high end of the volatility. Nobody would be throwing money at the market like that if there wan't something to be gained from it. Even it the amounts are tiny, playing the spread in reverse plus fees eats most of each trade, and these are happening every few seconds.

I understand you can ignore it but ignoring it adds nothing. Basing your analysis on such an obviously manipulated trade seems to not provide any value either. At best you ignore it and are not better than if the bot didn't exist.

I think you are vastly overestimating the cost of that stupid bot. The transaction size is 0.0000001 BTC. Lets say it trades once per second 0.0000001 * 60 * 60 * 24 * 365 * 0.6% = 0.019 BTC per year in trading fees. How much trading losses is the bot racking up? I don't know but lets say it is 10% of principal. That is <1 BTC per year.

I never said there isn't something to be gained from it. It distorts the charts and most people won't filter that out. That misinformation has to be worth 1 BTC per year right?

notme

legendary

Activity: 1904

Merit: 1002

Quote from: DeathAndTaxes on December 21, 2011, 09:07:06 AM

Quote from: notme on December 21, 2011, 07:06:07 AM

If you compare volume weighted moving average versus simple moving average, this will cause the simple moving average to be more indicative of the current spread prices whereas the volume weighted average shows where most of the heavy trading occurred.

How does the bot spamming bogus trades worth less than a fractional penny each add value to an analysis. It would be like saying if you turn your amplifier up so loud it adds distortion to the music you can appreciate it better.

I have no idea why Mt. Gox doesn't implement a minimum trade size. It wouldn't need to be large even 1 BTC would be fine.

You can ignore those trades in your analysis you you want. It is very easy to filter out this type of "noise" since it is very ordered. This is nothing like adding distortion to music. It shows the available prices over time, which indicates where people are willing to buy/sell at any given time. If the prices available are on average much higher than the volume weighted price than there are buyers buying at the low end of the volatility. If the prices available are much lower than the volume weighted price than there are sellers selling at the high end of the volatility. Nobody would be throwing money at the market like that if there wan't something to be gained from it. Even it the amounts are tiny, playing the spread in reverse plus fees eats most of each trade, and these are happening every few seconds.

finway

hero member

Activity: 714

Merit: 500

So, you don't stop that bot, you just make it thinner, thanks! Roll Eyes

DeathAndTaxes

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Activity: 1218

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Gerald Davis

Quote from: notme on December 21, 2011, 07:06:07 AM

If you compare volume weighted moving average versus simple moving average, this will cause the simple moving average to be more indicative of the current spread prices whereas the volume weighted average shows where most of the heavy trading occurred.

How does the bot spamming bogus trades worth less than a fractional penny each add value to an analysis. It would be like saying if you turn your amplifier up so loud it adds distortion to the music you can appreciate it better.

I have no idea why Mt. Gox doesn't implement a minimum trade size. It wouldn't need to be large even 1 BTC would be fine.

notme

legendary

Activity: 1904

Merit: 1002

If you compare volume weighted moving average versus simple moving average, this will cause the simple moving average to be more indicative of the current spread prices whereas the volume weighted average shows where most of the heavy trading occurred.

Mushoz

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Bitbuy

Quote from: notme on December 21, 2011, 06:48:44 AM

I hope they keep it running... It provides some interesting data if you can decipher what it is indicating.

What is it indicating according to you?

notme

legendary

Activity: 1904

Merit: 1002

I hope they keep it running... It provides some interesting data if you can decipher what it is indicating.

Mushoz

hero member

Activity: 686

Merit: 500

Bitbuy

The bot that's spamming <0.00 BTC trades? Yeah, very annoying. Producing loads of noise on graphs =/

finway

hero member

Activity: 714

Merit: 500

Kill it!

Topic: Who's bot? made mtgoxlive price line very thick, darn! - page 2. (Read 2894 times)