austinyearlykim/wolf

Stop Loss and Take Profit

Closed this issue · 4 comments

pitxels commented

I would like to know if this bot can be used to set a Stop Loss and a Take Profit settings. Of course both order can not be set in Binance, but is the Bot able to follow the price and place an order when one of these conditions met?

austinyearlykim commented

Hi @pitxels,

Yup! W.O.L.F is actually one of the only, if not only crypto bots to support some sort of "just-take-this amount-of-profit-if-it-reaches-a-certain-price-as-well-as-take-profit-on-the-way-back-down". Long description...but maybe a snippet from the README.md will help 👍

  • PROFIT_LOCK_PERCENTAGE is in whole numbers; e.g 1.2 is one-point-two percent.
    • Example: Your PROFIT_PERCENTAGE is 5% and your PROFIT_LOCK_PERCENTAGE is 3%. W.O.L.F will wait for your order to sell at 5%, however if it passes 3% at anytime and then dips back to say ~2.7% it will do a market order to lock some of your gains. It's important to note that your sell at your PROFIT_LOCK_PERCENTAGE will only trigger if the price passes your PROFIT_LOCK_PERCENTAGE then dips backwards, otherwise W.O.L.F will continue watching to see if you reach your, more desirable, PROFIT_PERCENTAGE.

woooooooooooooooo~

pitxels commented

Hi Austin,

PROFIT_LOCK_PERCENTAGE, great feature! But if I understand correctly it should be only used if you are 100% sure you are going to have a profit.

So I guess for now I will use the STOP_LIMIT_PERCENTAGE one in combination with the PROFIT_PERCENTAGE because what I want is to minimize the risk.

I am reading the README.md and the template.env and there seems to be something wrong, I guess you changed the variable name at some point:

In README.md on line 59 says "....STOP_LIMIT_PERCENTAGE or STOP_LOSS_PERCENTAGE, but not both."

in template.env says "....pick one. not both." but the variables available are: STOP_LIMIT_PERCENTAGE and PROFIT_LOCK_PERCENTAGE

Thanks!

pitxels commented

One more question:
Since there is a trade loop you end up with everything in the target coin, right? So If I am only doing one trade how does the loop work in this case?

Does the bot purchase again the Base Coin? Or does it keep waiting for the budget to be available again? If so, how can I specify to loop a certain number of times?

Thanks!

austinyearlykim commented

Answer to question 1: STOP_LOSS_PERCENTAGE was changed to PROFIT_LOCK_PERCENTAGE... Good catch, I forgot to deprecate STOP_LOSS_PERCENTAGE documentation.

Answer to question 2: The trade loop actually gets you more of the base coin, not the target coin. Read the README.md and if anything isn't clear there let me know if I can help clarify anything. The bot purchases again the base coin only if you are able to sell the target coin at a profit. The synchronous nature of W.O.L.F pseudo-guarantees profit only because it will never sell at a loss

Answer to question 3: Specifying an X number of trades, or loops, sounds like a great feature for those that want to run W.O.L.F in only bursts at a time. Sounds like an awesome feature request ticket :D