Advice: Pairing

General discussion about Haasbot's PingPong Bot. (Beginner)
neggs
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Advice: Pairing

Postby neggs » Mon Mar 27, 2017 7:30 am

Hi,

I'm experimenting with PingPong and have currently got a ETH/BTC pair. Both have been moving over the weekend, with BTC heading down and then back up and ETH moving slowly up and down. The bot has been trading quite a bit, but seems to be making either very minor profits or some losses.

My question: is it recommended to use the PingPong bot with one coin and something stable, such USB/GBP or as I've currently got it running?

Thanks in advance!

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stephan
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Re: Advice: Pairing

Postby stephan » Mon Mar 27, 2017 10:24 am

The PingPong bot is a starters/beginners bot. Its very easy to setup and its balance is to give profits. But its does its work very carefully. This is why you see multiple trades with minor profits. It are small steps to make small profits.

My advice would be to leave this running and to begin to spread your options. Having 1 bot running is alright. If you have 2 bots running then the profits go down a little bit but its gets more stable, at 3 bots i am sure you can estimate what will happens. This principle is called "risk management" and if you apply this then you are on route to become a true professional.

Risk management also describes that if you are set with a number of bots and it goes well then you can setup a more daring bot, take some more risk so the say. If it goes bad then the other bots will cover for it, if it goes good then your profit just go up.

Again if you work yourself up to such a balance then you are becoming a pro, this is what we do as well. just spreading the options, reducing the risk and making profits based on the average. There are no bots which never give losses, but that perfectly alright, go for the balance and you get as close to perfection as possible.
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neggs
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Re: Advice: Pairing

Postby neggs » Mon Mar 27, 2017 10:43 am

Thanks. I understand risk management and you explained it very clearly.

Back to my question, which I may not have explained correctly - is it typical to use pairs such as ETH/BTC or ETH/USD for the PingPong bot or doesn't it matter if you spread the risk.

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stephan
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Re: Advice: Pairing

Postby stephan » Mon Mar 27, 2017 10:55 am

neggs wrote:Thanks. I understand risk management and you explained it very clearly.

Back to my question, which I may not have explained correctly - is it typical to use pairs such as ETH/BTC or ETH/USD for the PingPong bot or doesn't it matter if you spread the risk.


It does not really matter where you trade and on which market, all that really matters is you making profits. 8-)
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neggs
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Re: Advice: Pairing

Postby neggs » Mon Mar 27, 2017 11:42 am

LOL - true! I'll spread the love and play a few different bots.

Thanks.

fabio
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Re: Advice: Pairing

Postby fabio » Tue Mar 28, 2017 12:46 pm

Stephen,

As you might know, BITMEX pays fees for limit orders executed. So it would be nice if the robots have a setting to place limit orders only (maker), unless certain safety trigger is activated.

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stephan
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Re: Advice: Pairing

Postby stephan » Tue Mar 28, 2017 1:25 pm

Yes, that is very true indeed.

But i understand the request and motivation behind it, except these bots are really made just to help people get started somewhere. I dislike to break that concept. If these bot do fine then the logical next step would be to replicate them as a normal trade-bot. This will give you control over the order types.

The scalper is just a Blind Indicator combined with an FeeOvercome Insurance.

The pingpong is no more then a dynamic high/low indicator (combined with an FeeOvercome Insurance for extra safety).

When you want to do (or use) market making capabilities then you can do it in 2 ways;
1. You can setup a trade bot and select the "Be the first order" option inside the advanced settings.
2. You can setup a trade bot and select the "Market maker order" template.

Or depening on your license we also got the special market making bot.

Despite all the options i am aware we still got the issue of assuming the highest fee percentage. We are working on that part to improve it in the future.
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