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Cryptocurrency mega-thread

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evolved2 said:
That's why I think exchanges should be the main focus of regulators. campaigners like CZ and SBF aren't our friends. On the other hand, we need a shitcoin casino for the degenerate gamblers and binance is the biggest and the best of them all. I hope they give 'em a 8 figure fine and let the degens continue playing musical chairs for a few more years.
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Gate.io is better for lower cap coins.
 

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ash_1050 said:
Just finished reading ‘Tracers in the Dark’. Highly recommended for anyone who has an interest in crypto, particularly those who argue ‘it’s totally anonymous bro’.
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Why do people think this?
Btc is an open ledger lol

Ill check it out if i can find a pdf
And Binance can gagf
Syftex here i come
 
Anyone ever looked into developing their own automated trading bot? Plenty of ones you can pay for out there, but most are largely trash unless you want to be paying expensive subscription fees each month. There are also very few that allow you to backtest or simulate real trades without risking actual money (paper trading).

I have been developing my own automated bot in Python over the last couple of months to backtest historical data and it's been immensely satisfying to finally have it working properly and spitting out accurate results (easy enough to check the data on an exchange and verify results). I am not looking for any sort of over-complicated trading strategy, simply experimenting with basic indicators like RSI, MACD, SMAs, EMAs etc and seeing what has historically worked well. My bot can scan all trading pairs on a certain exchange and I will tell it how much to trade with if the indicator flags a buy signal (including trading fees), how many open trades it can have at once and then set take profit/stop loss levels. What has worked in the past may not work in the future, but it's also better than going in blind and risking real money.

I am finding that even some of these basic indicators have generated decent returns over the last few years, but it has taken a lot of playing around with the indicator values to set buy signals for and also the take profit/stop loss levels. I am also discovering that you don't need to combine a heap of indicators together and think that it will generate the perfect buy signal which never loses, sometimes keeping it simple is best.

High frequency trading (i.e. 5 minute down to second candles) is also very hard to have a winning strategy for, unless you have far more powerful algorithms and computers than the majority of us have. I have found it far easier with 1 hour, 4 hour and up to daily candles, but that's just me. Also, backtesting over smaller timeframes (e.g. 1 minute candles) with say 300+ trading pairs over the course of a year will take days to process and it is why high frequency trading tends to only be done by large investment firms. I think my computer would crash if I tried second candles.

I have been using ChatGPT to teach me the coding and fix any errors I encounter, but you definitely still need a decent maths background to have that fundamental understanding of functions and logic statements. It also just doesn't spit out something that will work immediately, it takes a lot of iterations and frustrations to get it right.
 

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BACCS said:
Anyone ever looked into developing their own automated trading bot? Plenty of ones you can pay for out there, but most are largely trash unless you want to be paying expensive subscription fees each month. There are also very few that allow you to backtest or simulate real trades without risking actual money (paper trading).

I have been developing my own automated bot in Python over the last couple of months to backtest historical data and it's been immensely satisfying to finally have it working properly and spitting out accurate results (easy enough to check the data on an exchange and verify results). I am not looking for any sort of over-complicated trading strategy, simply experimenting with basic indicators like RSI, MACD, SMAs, EMAs etc and seeing what has historically worked well. My bot can scan all trading pairs on a certain exchange and I will tell it how much to trade with if the indicator flags a buy signal (including trading fees), how many open trades it can have at once and then set take profit/stop loss levels. What has worked in the past may not work in the future, but it's also better than going in blind and risking real money.

I am finding that even some of these basic indicators have generated decent returns over the last few years, but it has taken a lot of playing around with the indicator values to set buy signals for and also the take profit/stop loss levels. I am also discovering that you don't need to combine a heap of indicators together and think that it will generate the perfect buy signal which never loses, sometimes keeping it simple is best.

High frequency trading (i.e. 5 minute down to second candles) is also very hard to have a winning strategy for, unless you have far more powerful algorithms and computers than the majority of us have. I have found it far easier with 1 hour, 4 hour and up to daily candles, but that's just me. Also, backtesting over smaller timeframes (e.g. 1 minute candles) with say 300+ trading pairs over the course of a year will take days to process and it is why high frequency trading tends to only be done by large investment firms. I think my computer would crash if I tried second candles.

I have been using ChatGPT to teach me the coding and fix any errors I encounter, but you definitely still need a decent maths background to have that fundamental understanding of functions and logic statements. It also just doesn't spit out something that will work immediately, it takes a lot of iterations and frustrations to get it right.
Click to expand...
An update on this... I am now running a script that is generating a buy signal based on the hourly chart, but then merging this with minute data for exiting trades. It forwards fills the hourly data to the minute data, creates a new dataframe for the backtest to perform on and then only looks at the first minute of the hour for buy signals (to avoid repeating the same signal 60 times). It allows me to get more precise exits based on my take profit and stop loss levels, because as we all know, even an hour in crypto can see some wild swings (my code can only sell at the close of a candle, which is now a minute candle instead of an hour).

Once you have a buy signal you are happy with, it is important to tinker with take profit/stop loss levels, as these are absolutely critical to nailing a profitable strategy. Review your trades (there are plenty of good metrics that you can print to a log file) and see whether you could have let a trade run longer/cut your losses earlier and find that optimal balance.

If anyone is keen to learn algo trading, please reach out on DM and I will do my best to give tips I've learnt along the way and help you get started.
 
BACCS said:
An update on this... I am now running a script that is generating a buy signal based on the hourly chart, but then merging this with minute data for exiting trades. It forwards fills the hourly data to the minute data, creates a new dataframe for the backtest to perform on and then only looks at the first minute of the hour for buy signals (to avoid repeating the same signal 60 times). It allows me to get more precise exits based on my take profit and stop loss levels, because as we all know, even an hour in crypto can see some wild swings (my code can only sell at the close of a candle, which is now a minute candle instead of an hour).

Once you have a buy signal you are happy with, it is important to tinker with take profit/stop loss levels, as these are absolutely critical to nailing a profitable strategy. Review your trades (there are plenty of good metrics that you can print to a log file) and see whether you could have let a trade run longer/cut your losses earlier and find that optimal balance.

If anyone is keen to learn algo trading, please reach out on DM and I will do my best to give tips I've learnt along the way and help you get started.
Click to expand...

Are you able to post charts showing your progress down the route of algo trading? Doesn't have to be $ charts, % works just as well for seeing how you're progressing.

In the interests of disclosure as you'd well know I'm on the skeptic side of things, but I'd be curious to see how it plays out even though it's something I'd never touch.
 
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ash_1050 said:
Are you able to post charts showing your progress down the route of algo trading? Doesn't have to be $ charts, % works just as well for seeing how you're progressing.

In the interests of disclosure as you'd well know I'm on the skeptic side of things, but I'd be curious to see how it plays out even though it's something I'd never touch myself.
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Yeah absolutely, just running another backtest at the moment, can post some results soon to show how sensitive overall profit/loss is to what you set for take profit/stop loss. I thought I had found the perfect levels to set based on the previous results, but it then ended up worse.

I have also been running paper trades for the last week and sitting about breakeven still.
 

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