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I came across this article yesterday and thought you folks might find it helpful.
Ignore the 'mean reversion' stuff if you're not into that, though it does look useful. The guy has written a whole guide on how to build a profitable strategy in one article.
I was trading on https://tradeogre.com and pretty quickly realized there was a few bots trading against me. Here is what I could see they were doing.
Buy coin at 1 sat higher than highest buy offer
Sell coin at 1 sat lower than lowest sell offer
Basically, they were exploiting a gap between the buy/sell books on a single coin on the exchange; I was doing the same thing. I know it was a bot because as soon as I put my order above/below it, it moved the order.
For further evidence, it was set to ignore any combined order above/below a predetermined amount-- for example. If I listed 4.5 coins for sale, it would move it's own order to exe before mine (price diff of 1 sat). But if my coin sale totaled 4.49 it would do nothing.
I used to this my advantage to find the floor of how low the bot would be willing to go, then leavel 4.5 coins there to hold the bot's order as low as possible while putting mine much higher up the order book to maximize my own profit. Conversely, I have also broke my order up to the 4.49 totals and traded in 1 sat price increments which means I didn't realize as much, but still got my orders executed before the bots.
tradeogre is a relatively low volume exchange, so getting the order traded first is important, especially on coins that have these gaps because they are even lower volume usually.
Just curious if anyone knows what this trade strategy is called. If anyone is curious to run it, I tripled my "fun" money (disposable money I just have for fun) in 2 weeks trading like this. Usually a buy/sell pairing every 4 hours or so. Trade pair profit ran from 3% to 14% usually around 8% though. I ended up stopping because my holdings were getting to the point of taking a long time to actually execute.
The pros often say that keeping your trading strategy simple is of prime importance.
I understand that and agree, somewhat. But I'm a programmer at heart, so when I see a challenge I often want to create a solution.
Risk management is a huge part of being successful at trading. Huge. Having tried my hand at day trading in the past it means a lot to me. Here's an interesting article that makes this point and others in a useful fashion:
We're not trying to become day traders. But we are trying to simulate them. So their observations can be instructive.
The author said good traders don't trade every day. Some days things aren't suitable, not enough trend or volatility, whatever. Too risky. Makes sense. You can see it on the chart.
That reminded me of some of the Gekko strategies I've looked at with strings of bad trades in an otherwise successful strategy. Made me wonder if there might be a way to leave the strategy mostly alone, but add a simple mechanism to identify bad days and avoid trading them. Volatility, trend, volume, something. Target those days and leave the rest alone.
Just a thought. There will always be bad trades. Finding ways to skip or minimize some of them seems worth strategizing about. No doubt a lot harder than it sounds.
I just read that 75% of trades in the traditional markets are done by bots. And I also read that more whales are targeting cryptos. So it makes sense we need to manage our risk well.
As some might have noticed I haven't been responding to all threads on the forum and all github issues in recent times. This is because I am working very hard on a massive upgrade for Gekko as well as preparing Gekko Plus for launch. I've hired someone to help with certain aspects of the project (visual design for the new upcoming UI as well as the Gekko Plus brand). I do want everyone to know that I am working very hard on Gekko every day, even though it might not be reflected when looking at the issue tracker or at my activity on the forum.
If you want to reach out to me and require a swift response please e-email me directly at gekko@mvr.me.
The purpose of this thread is to keep everyone updated on what is happening on my side, I will try to post updates to this thread on a regular basis. All updates are comments on this thread, they can all be found in this list:
