main issue to be tackled
nitad54448 opened this issue · 2 comments
I saw many discussions and changes proposed recently in relation to messaging to Telegram, Discord etc.
In my opinion the most important point is that, at this time, the bot is buying too late. This is the point to be addressed and if it cannot be solved then no need to add Telegram and so on, because nobody is going to use this bot.
The main problem for this bot is that it buys close to the top , i.e. too late (the last 4 buys in my case where "buy high-sell low". For the last case, the bot found it 3 seconds after the announcement and still it was too late. Looking at price charts, it seems that the orders are launched at least one minute before the actual listing... typically at HH.59 min you can see the price going up. It might be just that someone has an "intuition", if you catch my drift or a friend of a friend that knows in advance about the listing and buys the coin in the minute before the listing. If this is the case it looks like inside-trading and unless this is solved somehow there is no utility for this program (maybe a formal request/inquiry to Binance or a Twitter message...?).
So, unless we find a way to buy just in time, it does not matter that you have a telegram bot to tell you that you are going to loose money...because no one is going to use the bot.
So, is there anyone that got any profit recently ? If so, can you post the log and your config ?
Thanks
You simply cant beat those insiders. really the only chance such a bot has is to buy under a second after the announcement and that will simply not happening.
Unfortunately as much as I like the idea I totally agree with you @nitad54448 : I have never managed to make any profit from this bot even if I must say pulling the coin through the API has brought a lot of improvement delay-wise.
imo the only way that we could possibly take advantage of this "pump" is to monitor the market at the time Binance announces their coins, and to sort of "buy FOMO" whichever coin is pumping at this time until the announcement is out. The announcement would then be a sort of confirmation, and a signal to sell the coin and not buy it.
I know that this approach definitely is gambling, but I believe it could still work as it seems that Binance releases most of their announcements around 3AM. Statistically if a coin pumps between 2:45 and 2:58 chances are that it is a Binance announcement... unless it's a crook group doing a pump and dump scheme but these usually happen on the hour and not before.
I think I'm gonna work in this direction.