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/biz/ - Business & Finance

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File: 41 KB, 875x321, tethertrade.png [View same] [iqdb] [saucenao] [google]
18962372 No.18962372 [Reply] [Original]

Pic related is USD-T. It hovers within 2-3 tenths of a USD, fluctuating at least 3 times a day. If one could set up a simple bot to place limit orders repeatedly, they would exponentially earn 0.3% interested, over a hundred times a month. With tweaking parameters for maximal efficiency, one could see anywhere from 5 to 50x growth over a 6 month period just by botting a tether coin. The question is - how to set up a simple limit buy/sell placing bot on binance or coinbase?

>> No.18962444

>>18962372
What about fees

>> No.18962474

>>18962372
it's too bad you don't know how to code anon, cause you have the right kind of mind for it.
> how to set up a simple limit buy/sell placing bot on binance or coinbase?
simple is right. I'm sure you can figure it out in an afternoon if you'd only apply yourself.
start here...
>https://github.com/binance-exchange/binance-official-api-docs/blob/master/web-socket-streams.md

>> No.18962479

>>18962372
Why don't Binance, Coinbase, Bitmex allow you to set multiple buy and sell orders like Poloniex?

>> No.18962488

Gsy

>> No.18962520

>>18962444
this

>> No.18962539

Wow! I wonder why nobody ever thought of this before! OP is clearly a genius!

>> No.18962796

>>18962444
>>18962520
robinhood

>>18962474
i want to learn but i cant find a way to even start, there's shitty python tutorials teaching me how to make a counting game in the terminal, and then a ton of techno jargon when it comes to APIs that i cant understand

>> No.18962800

You're late to the game. This is what market makers do.

>informed traders will fuck you up if a market trend happens

>> No.18962921

>>18962539
Why wouldnt it still work?

>>18962800
You mean if it spikes further of 1 USD? Why wouldnt a stop loss get you out in time?

>> No.18963108

>>18962796
That's how to do it though. You need to take the time to learn.

>> No.18963397

>>18962372
ever heard of a stop and limit order kiddo?

>> No.18963431

>>18962372
I've thought about doing that, couldn't find an exchange with an usd/usdt pairing with low enough fees.
The logic sounds simple enough, keep doing an api call to get the current price every second, if the price falls below a threshold buy it, the continue pinging the price until it reaches whatever upper limit you decide then sell.
Would be something like 30 lines of code

>> No.18963796

>>18963431
is there any sites with forex trading without fees? usd and hong kong dollar are paired as well, the fluctuations are more rapid but significantly smaller

>> No.18964445

>>18962372
USDT to USDC pairing on binance

>> No.18964464

>>18963431
See >>18964445

>> No.18964485

>>18964445
Literally free money

>> No.18964505

>>18963431
web sockets stream live data so there's no need to be making api calls every second. in fact, doing that will probably get your IP banned desu.

>> No.18964890
File: 67 KB, 800x1067, 236236261.jpg [View same] [iqdb] [saucenao] [google]
18964890

bump, anyone wanna team/chat about this strategy?

send me a msg on discord: caesar#2872

>> No.18964936

>>18962372
How did I not realize this wtf. EZ sats.

>> No.18964942

>>18963431
> 30 lines of code

>> No.18964957

Who tf buys above $1 and who tf sells below $1

>> No.18964988

>>18964942
The man has never even heard of websockets, he's evidently never looked at an exhange's API and is talking out his ass