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Anyone with trading bot idea?

  • 27-10-2017 9:55pm
    #1
    Registered Users Posts: 153 ✭✭ Stoko


    I can develop it just have no idea!


Comments

  • Registered Users Posts: 2,259 ✭✭✭ Shiny


    Yeah a few of us were trying to use ZenBot in our office but it continuously did stupid stuff like buying high and selling low.

    It difficult and confusing to configure and pondered that something more straightforward would be better. I don't see why you cant restrict a bot to wait for a small dip, buy at X and sell at X + 25 cent. Rinse and repeat.

    Still though, for open source software, its a good start in fairness.


  • Closed Accounts Posts: 4,402 Ronnie Better Turtle


    Shiny wrote: »
    Yeah a few of us were trying to use ZenBot in our office but it continuously did stupid stuff like buying high and selling low.

    It difficult and confusing to configure and pondered that something more straightforward would be better. I don't see why you cant restrict a bot to wait for a small dip, buy at X and sell at X + 25 cent. Rinse and repeat.

    Still though, for open source software, its a good start in fairness.

    You don't need a bot for that (a take profit order), you can do it on Kraken (advanced) and BitMEX and I'm sure many other places too.


  • Registered Users Posts: 2,204 Aspiring


    I built some simple trading bots over the summer. If I was you I'd try collect some data to use for backtesting. You can find some online but the time intervals will probably be large. You can write a fairly simple piece of code to collect the current price/volume etc every X seconds/minutes/whatever. Just leave it running somewhere (I used a raspberry pi initially, I now use a VPS) for a while and you'll have some data to use for testing your trading ideas.

    If you're looking for an exchange to use, the Kraken API is fairly easy to use, they have a good amount of documentation available. As far as ideas go, just experiment and see what works. This way you'll learn as you go along. Look up trading methods and try them out by implenting them in code. It's not too difficult to come up with something that works better than just buying and holding. Start super simple and work up in complexity. One of the first ideas I had was to buy when the price began accelerating quickly upwards and sell when the price began decelerating quickly downwards. Obviously very simple but it still worked.

    One thing to keep in mind is to factor in the fees for buying/selling when you're calculating profits/losses when backtesting. It can make a big difference if your bot is making a lot of trades.


  • Registered Users Posts: 153 ✭✭ Stoko


    Yep fees are a killer!
    I did a few forex bots last few years and all ended up with 0 success haha
    It was fun at the time.
    Maybe the best way for now is just HODL!


  • Registered Users Posts: 861 ✭✭✭ ElKavo


    I have used and still use POLOBOT. But thats only for lending AFAIK.


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