I think a useful tool for non-fulltime traders would be that if your buy order gets filled it would automatically sell at a predetermined price, that way you wouldn't have to worry about missing the sale if you're away and it would work with Luc's technique perfectly.
You are viewing a single comment's thread from:
Yes. I have a bot in poloniex, detects when a coin goes down more than 10% in 5 min. But the thing here is, where to put the buy order? Right in the 10%? What if it goes lower? At the moment, I am buying just at 10%, or where the variation is. Then, after it successfully buys the coin, it puts a sell order at 5% margin (just to be safe, and not to put it in a 10% gain, better to have profit, that not at all!
So, what ideas do you have? What could be a general rule for the buy and sell order?
I'd be interested in learning how to make a bot. Any good references on where to learn?
I am not a programmer, but I started learning from other bots on the web. I thank xcbtrader for teaching us and donating this bot on Poloniex. I customized it to my needs.
https://github.com/xcbtrader/pobot
Thanks!
May be it's a good idea to put a sell order on 5% margin and make a trailing take profit: when the price goes up without a stop you won't sell, if it then goes down and reach some threshold, you'll sell.
For instance. You buy at $1 price , set a trailing stop at $1.05. The price goes to $1.08 and then goes to $1.06. You set a threshold of going down for 1% and sell at $1.07.
I think that that is very possible to do manually