The Money Maker Machine - Monker<p>This was a hobby project of myself to create the simplest Cryptocurrency bot possible. It was written in Python, operates on Binance, and stores all logging and trading information into a MongoDB database. The trading strategy is extremely simple:<p>- Assume that crypto prices will fluctuate, but eventually be restored to its original quote
- Buy small quantities every time the price falls below a threshold, keeping track of the amount purchased and the price payed
- Sell those exact quantities when the price is above what was payed for it<p>It was a lot of fun developing it, and I guess I made something around 3 dollars before shutting it down. It is my first contribution to opensource world, and I hope others can benefit from it :)
Nice! It's very simple, but has a few interesting qualities, like not using any third-party library to interact with Binance, giving the bot more flexibility to make use of Binance-specific features in a future extension of this work. For example: Binance's margin trading works a little different from other exchanges.<p>I would use order book data instead of ticker data, though, since you have more control of your risks regarding the exchange's liquidity.<p>Well done!
I have a feeling that the vast majority of transactions are from bots like this, from the naive "moneymakers" (like this one with a $3 return) to ones with extreme sophistication.<p>The naivete here is that it only makes money if the market is rising long term. If it is falling over the long term then you'll get stuck with a bunch of losses.<p>The results it generates are no different than buying at random times and selling random bets at random times.
If you like crypto bots, check out our project called <a href="https://quadency.com" rel="nofollow">https://quadency.com</a>
We have common strategies you can deploy to all major exchanges. You can also code your own real-time strategy in python using <a href="https://support.quadency.com/en/articles/3459678-strategy-coder" rel="nofollow">https://support.quadency.com/en/articles/3459678-strategy-co...</a>
I think there should be a big (maybe red?) disclaimer at the very top explaining that this should only be used for fun, experimental and learning purposes. No real money should be invested into it too.<p>Just in case somebody thinks it's real and go full retard with it.
Very cool! I might try to pick this up later and test some stuff out. Why did you choose to stop it? Did you find a more profitable algorithm ;)<p>I wonder how much of the volume on cryptocurrency exchanges are due to bots.
Looks pretty cool! I'm always unsure of separating my buy and sell side logic. Was there a deliberate decision to separate those functions, rather than passing the side as an argument?