I am building a Bitcoin trading bot with the GDAX API
For the last several weeks, I have been working on a bitcoin trading bot using the GDAX API. We have 10 people using the bot currently(Mostly My Family and Friends) and I am looking for some people out in the bitcoin community to start as seeder accounts that would like to try my bot. When I launch, in a week or two; we will be charging $99/Month. I am willing to offer lifetime free subscriptions to one or two people who are interested in this. Shoot me an email. I will provide more details of how the bot works. Thank you,
GDAX Bitcoin Cash Launch Retrospective -- trades were halted after 3 minutes because THE STASH DRIED OUT DUE TO AN AVALANCHE OF BUY ORDERS FROM TRADING BOTS PROGRAMMED TO INFLATE PRICES.
Bitcoin Cash implementation spills Picasso’s painting supplies. The ‘Picasso’ bot appears to be extremely aggressive in how it trades, this aggressiveness was fully exposed with Coinbase adding Bitcoin Cash to their exchange. This bot, within minutes, drove the price of Bitcoin Cash to 200+% higher than the rest of the market, due to the order books being practically empty, only stopping with another giant ask wall (which also could have been the Picasso bot). $20 bucks says the buy orders and sell orders belong to the same person. I believe that the reason we saw Bitcoin Cash start out trading like this, several hundred percent higher than the rest of the market, is because the tape painting bot was unleashed on this trading pair too early. With empty orderbooks, within minutes it drove the price to as high as $9,500. It was so bad that Coinbase had to suspend trading, interestingly, they also suspended trading on December 7th, 2017 when this bot went wild as well, driving Bitcoin prices thousands of dollars ahead of the rest of the market. Notice how there is a buy order for 95 Bitcoin Cash at $8500. No human being would have entered this order on GDAX. This was a tape painting bot specifically designed to inflate prices. Coinbase should investigate the account which placed these buy orders, because in my opinion they were not bona-fide orders made by a trader but by a bot trying to manipulate prices, which is a violation of Coinbases Term’s of Service. This bot has also caused them an extraordinary amount of PR damage and accusations of possible insider trading."
Source If you really think you're on the good side of Bitcoin I have news for you: There is no good side. There are assholes and greedy fucks here too, as well as everywhere.
02-07 02:23 - 'Never moon until mains exchanges used bots for shorting, they just make money. Look at GDAX right now,same patterns for BTC and ETH, every day about month. Insider trades.' by /u/ZimaLeto removed from /r/Bitcoin within 2-12min
[uncensored-r/Bitcoin] Are there any Bots that can trade for you on GDAX?
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[uncensored-r/Bitcoin] Are there Bots that can trade for you on GDAX?
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RYZE | Bitcoin News, Guides and Investment Resources
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How and why exchanges are manipulating the price in order to capitalize on the new market dynamics
The current market seems to be largely driven not by organic buying and selling, but by exchange driven manipulation of the spot market to exploit the current dynamics of leverage trading. We just saw it again now as they liquidated 3K longs but you can see this pattern of clear manipulation over and over in the last few weeks . We have seen several forces set an incentive for exchanges to do this:
Consistently declining volume - this leads to lower total fee revenue for exchanges, and an incentive to manipulate the price in order to earn revenue through liquidations rather than trading fees.
Move towards more leveraged positions - both leveraged shorts and leveraged longs are at or near record levels. Shorts especially have gone from 8K outstanding in January to 33K right now, a whole tripling in outstanding positions.
Move away from the spot market and towards derivatives - Anybody who has been checking the combined orderbook over the last few months has seen Bitmex completely take over the market, while GDAX, Bitfinex, Gemini and others see consistent declines. I've noticed myself an increased interest across the Internet on how derivatives work and anecdotely I have seen more people move away from the HODL meme and towards trading taking high margin bets with a portion of their stack.
Some exchanges like Gemini have reacted to all of this by increasing their trading fees by 400%. Meanwhile Bitfinex specifically seems to be using its hefty weight to manipulate the price in order to capitalize on the record number of people using margin to bet. Both longs and shorts are bets on the price moving up or down and they have a "liquidation price" at which they get liquidated by the exchange, essentially the exchange gets the entire stack they bet with and extracts a high market fee multiplied by the leverage. Since the exchanges know the characteristics of the outstanding shorts/longs, and since volume is low after these pumps or dumps leading to sideways drift, they can essentially engineer movements in price that create income in terms of liquidations. When there are lots of overleveraged shorts, an exchange can pump the price with bots briefly and collect the short position. Same with longs but in reverse, a quick burst of selling pressure. You can see this in the most recent pumps too on Bitfinex, where 1K buy orders appear out of nowhere after long sideways movement only to be followed by either sideway movement or slow bleed on pathetic volume: https://i.imgur.com/3YaWVBI.png https://i.imgur.com/pvpcd7Z.png Take a look at the most recent pump up to 7K, it instantanously liquidated about 700 short positions: https://i.imgur.com/3sCLEB8.png Now this last dump was a laddered 12.5K sell order on Bitfinex that liquidated around 3K long contracts https://i.imgur.com/znYyUT8.png Bitfinex tends to be where the big money traders move (their minimum deposit is 10K) so even if each long position was only 0.5 BTC on average they exchange would make a ton of money. If you look at the BitmexRekt twitter feed that shows a running list of Bitmex liquidations with humorous commetary, you will see many >$1 million dollar positions being liquidated during these moves. This is what all the "Bart" formations we have seen stem from. Its not George Soros pumping Bitcoin for shits and giggles, nor is it the nebolous "whales". They have no incentive to try and pull off PnDs now that it only leads to either sideways movement or decline after the pump. A PnD only works if the delta between the top of the pump end point and dump initiation point is positive, while now it seems to be followed by sideways movement. Those who do want to bet on further upward movements seem to be doing it off the spot market, using margin with futures and perpetuity swaps on Bitmex. This makes the low volume spot market ripe for manipulation, exchanges like Bitfinex and Bitmex have every incentive right now to manipulate the price. Looking back it seems almost inevitable that this would have happened, that traders would try to replicate the gains they saw by buying and selling on the spot market a few months ago by using increased leverage and derivatives. In December and January there were days where your holdings would increase by at least 20% no matter what you bought. Once you experience those 20% daily gains you don't want to go back to a market where it slowly bleeds down a few percent every week, so people jumped in on high leverage short positions to multiply their profit on those single percent moves down. For the small time investor there really isn't much you can do to stop this. This is what being part of an unregulated market means, it means that things like wash trading and long/short liquidation hunting is allowed. All you can really do if you're a trader is look at the current ratio of longs vs shorts on Bitfinex and be aware that once short contracts become too high its possible that an exchange may pump the price to profit on it, while if the longs become too dominant we may see a dump. Edit: Bitfinex, not Bitfenix.
Binary Options Litecoin Trading Bot Gdax → are somes called all-or-nothing trades, meaning that either you are In-The-Money (ITM) and you get the specified payout, or you are Out-of-the-Money (OTM) and you lose your Litecoin Trading Bot Gdax → traded amount. Binary options trading are a fast and exciting way to trade the financial markets. Where to download an existing open-source Bitcoin trading bot The cryptocurrency market is growing and expanding daily, and so is the number of trading bots. Most sophisticated crypto-trading bots nowadays are pretty expensive to buy or are offered on a subscription-based basis. I searched for a decent tutorial on using the R language to build a trading bot but found nothing. I was set on building my own package to interface with the GDAX API when I found the package rgdax, which is an R wrapper for the GDAX API. The following is a guide to piecing together a trading bot that you can use to build your own strategies. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. This artificial bot is intelligent in a true sense as a BTC trading bot with support for high-frequency trading, which is a plus, unlike many other bots. Zenbot works based on an in-depth market analysis. And yes, it works like an automated bot for GDAX too. How to use Zenbot?
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