Fee for the Market Maker Bot

General discussion about Haasbot's Market Making Bot. (Professional)
JSightler
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Fee for the Market Maker Bot

Postby JSightler » Fri Sep 22, 2017 9:03 pm

The Market Maker Bot utilizes limit orders when buying and selling. When I look on GDAX, I see that the bot is indeed placing limit orders. GDAX charges 0% on limit orders, but next to some (not all) of the limit orders, there is a .3% fee attached. Does anyone know why this is?

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stephan
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Re: Fee for the Market Maker Bot

Postby stephan » Sat Sep 23, 2017 10:50 am

I know what is happening, but it is very hard to help on this subject.

I have been mailing with GDAX about this and they indeed give 0% fee to limit orders, under the condition the order is not filled. I have asked them what they mean by this. It turns out there is a timer on the background and this timer decides if 0% fee is given or not. So the limit order must remain there for an x time, but GDAX was unable to tell me the time required for this.
Join the telegram group too: https://t.me/haasonlineofficial

JSightler
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Re: Fee for the Market Maker Bot

Postby JSightler » Sat Sep 23, 2017 6:00 pm

When looking through my fill history, it appears it is attaching a fee whenever an order is only partially filled (~97% of them), most of the time (~14% of all of my orders). I re-read their Fee Schedule and their Support Page, and I feel the problem may lie in the "Post Only" checkbox, which Haasbot does offer this option (I don't think).

Post Only - You can also check the 'Post only' option. This will ensure the order executes only as a maker (no fee) order. If part of the order results in taking liquidity rather than providing, it will be rejected and no part of the order will execute.

Source: https://support.gdax.com/customer/portal/articles/2426596

Could this be the problem?

no1san
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Re: Fee for the Market Maker Bot

Postby no1san » Sat Dec 02, 2017 7:54 pm

Hi,
I also want to know if there is GDAX support for limit orders post only.
As far as I know this makes sure there are no fees involved.

Steno
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Re: Fee for the Market Maker Bot

Postby Steno » Sat Dec 02, 2017 8:32 pm

I'm not 100% sure here, but I think the name POST might have been named "Maker or Cancel" somewhere in the past.

You can build a custom Order template using this option from GDAX.
Obvisously this only works for the bots where you can select the what template to be used.

Please test this and let us know (and correct me if I'm wrong)
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no1san
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Re: Fee for the Market Maker Bot

Postby no1san » Thu Dec 07, 2017 7:39 pm

Yes, got the same reply in the Telegram channel.
In simulated testing is working fine, but not yet live tested.


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