Introducing Nefertiti™, a simple crypto trading bot.
Nefertiti is a command-line trading bot that follows a simple but proven strategy: buy the dip, then sell those trades as soon as possible, preferably on the same day.
Disclaimer: investing in crypto is high risk. Even though this bot follows a relatively safe strategy, you should never feed it money you cannot afford to loose. Use at your own risk.
What are the bot’s most important commands?
While the bot supports many commands, the two most important ones are buy and sell. These commands are designed to be running in tandem.
You will need to start one instance of sell per exchange, regardless of how many market pairs you are trading in, for example:
sell --exchange=GDAX
The sell command listens for limit buy orders to get filled, and then automatically opens new limit sell orders for them. In essence, this command will auto-sell your trades. By default, the bot will try and sell them at a 5% profit.
You will then need to start an instance of buy for every market pair you want the bot to be trading in, for example:
buy --exchange=GDAX --market=BTC-EUR
and
buy --exchange=GDAX --market=ETH-EUR
What exchanges does this bot support?
At the time of this writing, the bot supports the following exchanges:
If your exchange is not in this list or you’re looking for this bot to support your favourite exchange, then join our Support & Community Group on Telegram. Who knows, maybe we can work something out.
An important note on API keys
When you generate API keys for the bot, do NOT enable withdrawal privileges. You should not give Nefertiti (or any bot for that matter) the power to withdrawal money from your wallet.
How does the bot determine where the dip is?
First of all, the ticker price needs to drop at least 4% over a 24-hour period for the bot to kick into action.
The bot will then look at the entire order book (for all the traders on the exchange), aggregate all the orders in the book so that what literally might be thousands of orders now aggregates to roughly 20 orders, and then select the top 4 orders out of those.
At those 4 support levels, the bot will then open limit buy orders for you for the amount you specify.
Summary: you yourself don’t specify the price. The bot will calculate those for you. You only tell the bot the quantity you want the bot to buy for you.
Every hour, the bot will cancel your limit buy orders and then repeat the above process.
Aggregating the order book
Before the bot can calculate where the support levels are, it will need to aggregate the order book.
Because the order book differs not only per market pair but because it is actually different for every exchange, the bot cannot possibly know how to aggregate the book until you instruct it how.
If you aggregate the book too much, then there won’t be enough support levels to find, but if you don’t aggregate aggressively then the support levels will be too close to each other.
The bot will examine the spread of the order book and will try and warn you for the above scenarios, but it is up to you to feed the bot an argument named --agg. Here are a few examples that have proven to work:
buy --exchange=GDAX --market=BTC-EUR --agg=50
buy --exchange=GDAX --market=ETH-EUR --agg=20
buy --exchange=GDAX --market=LTC-EUR --agg=5
buy --exchange=Bitstamp --market=XRP-EUR --agg=0.01
buy --exchange=Bittrex --market=BTC-DASH --agg=0.001
buy --exchange=Bittrex --market=BTC-NEO --agg=0.000025
buy --exchange=Bittrex --market=BTC-OMG --agg=0.000025
buy --exchange=Bittrex --market=BTC-ADA --agg=0.000001
Wait, what if I want to hodl (not sell) certain coins?
No problem, this bot doesn’t necessarily sell all your trades. If you want it to buy the dip and hodl those coins, then the bot can do that for you. Please refer to the argument named --hold, for example: --hold=BTC-EUR. Note that the bot will always sell a minimum quantity of your coins, even if you instruct the bot to hodl them. This comes with the trading strategy, and is not a bug.
I don’t have the time to keep an eye on the bot. Can I receive important notifications on my phone?
Absolutely! The bot uses Pushover for notifications. You yourself can instruct the bot how chatty you want it to be, from sending you notifications only when an error occurs, to sending you a notification on everything (including opened and cancelled orders). By default, the bot will send you a notification on filled orders and in my experience you only really want to know about those.
Download
Nefertiti is available for Windows, MacOS, and Linux. Click here to download the latest binary for your platform.
Any Questions?
Do you need any support setting up the bot, finding the right currency pairs or level of aggregation. Join our Telegram Group.
Or just visit our website www.nefertiti-tradebot.com to checkout the documentation and FAQ.
This is a copy of an article written at Medium. This is the link to original article.