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19079817 No.19079817 [Reply] [Original]

>get data from Binance
>find the best price to buy USDC/USDT
>find the best price to sell USDC/USDT
>set up bot that automatically buys at the best buy price and sells your stake at the best sell price
>compounding gains
>??????
>profit
is it really this easy?

>> No.19079822

>>19079817
*stack not steak

>> No.19079843

>>19079817
>find the best price to buy USDC/USDT
>find the best price to sell USDC/USDT
how do you decide that though? I was also thinking about this, basically you need to buy or sell after reaching a certain threshold. Like if the price increases by 10%, sell. If it decreased by 10% buy. Or maybe if it increases by some percentage within a certain time, buy

>> No.19079934

>>19079843
>I was also thinking about this, basically you need to buy or sell after reaching a certain threshold. Like if the price increases by 10%, sell. If it decreased by 10% buy. Or maybe if it increases by some percentage within a certain time, buy
I initially thought about that, but then I just had the idea to find the average price below a dollar and the average price above a dollar, and using that as your two prices. This could be recalculated over time too. I think this method would be more reliable than Option 1 but doesn't seem as profitable. Maybe using both could be best? I'm not really sure how to do that yet.

>> No.19080105

>>19079934
oh yeah that makes sense. I would take the average price over $1 and average under $1 over the last 24 hours and use that as your buy/sell. Then recalculate this every 30 minutes. Once it reaches one you can buy or sell

The problem I see is the margins are extremely low. You would only make maybe $1 or $2 every 24 hours on a $1k investment. with $10k it might be worth it, now you're getting $20 per day. You would need to be buying/selling $100k at a time to make any good money per day, at that point you could be getting $100 per day or more. I think their API probably has a limit on how much you can trade at once, not sure

>> No.19080122

>>19079817
>doesnt know fees
>is under 18

>> No.19080125

>>19080105
maybe I'll write a simulator on the weekend to see if that actually works out. I mean $20 per day would be sweet for a bot I could write in 30 minutes.

>> No.19080129

>>19080122
Binance has maker/taker fees 0.1%

>> No.19080727

>>19080105
>I think their API probably has a limit on how much you can trade at once, not sure
This was the thread that inspired me to make this thread and it in some guy points out websockets are a thing >>18962372

>> No.19080936

Fees will rape you. There was some guy here who made an algorithm which took him linearly up contiounusly (w/o fees) but taking fees into consideration he went up and down