Binance Trading Bot The idea for this project came from the observation that all cryptocurrencies behave similarly. When one spikes, everyone spikes, and when one dives, everyone dives. To a large extent. Furthermore, all coins follow Bitcoin’s example, with the exception of their phase offset.
So, if coins are essentially oscillating in relation to one another, it seems logical to exchange the rising coin for the falling coin, then trade back when the ratio is reversed.
Table of Contents
Binance Trading Bot: How?
Trading takes place on the Binance exchange platform, which, Binance Trading Bot understandably, does not support every altcoin pair. A workaround is to employ a bridge currency that will fill in for missing pairings. Tether (USDT) is the default bridge currency, which is designed to be stable and compatible with practically every coin on the network.
USDT Coin A USDT Coin B
The bot takes advantage of the observed behavior by always downgrading from the “strong” currency to the “weak” coin, Binance Trading Bot assuming that the tables will turn at some point. It will then return to the original coin, eventually carrying a larger amount of it than before. This is done while taking the trading expenses into account.
USDT Coin A USDT Coin B
Coin B – USDT – Coin C – USDT – USDT – USDT – USDT
Coin A – USDT – Coin C – USDT – USDT – USDT – USDT
The bot switches between a collection of coins under the premise that it does not return to a coin unless it is profitable in comparison to the last amount held. This means that we will never have fewer of a certain currency. The risk is that one of the coins will suddenly fall out of favor with the others, attracting our reverse greedy algorithm.
Setup on Binance, Binance Trading Bot:
Create a Binance account (including my referral link; if you use it, I’ll be ecstatic).
Two-factor authentication should be enabled.
Make a fresh API key.
Purchase a cryptocurrency. If the symbol isn’t already in the list, add it.
Setup of the Tool
Python requirements must be installed.
To install pip, type pip installs -r requirements.txt in the terminal.
Construct user profiles. Binance Trading Bot:
Create a user.cfg file based on.user.cfg.example and fill in your API keys and current cryptocurrency.
The fields of the configuration file are as follows:
api key – The Binance API key that was generated during the account setup step.
api secret key – Binance Trading Bot The Binance secret key was produced during the account setup step.
current coin – This is the coin you’ll start with. One of the coins in your supported coin list should be this one. Leave this option blank if you wish to start with your bridge currency; the bot will pick a coin at random from your supported coin list and buy it.
bridge – Your preferred bridge currency. It’s worth noting that different bridges will handle different currency sets. There may be a Binance specific-coin/USDT pair but no specific-coin/BUSD pair, for example.
tld – depending on your location, ‘com’ or ‘us’. ‘com’ is the default.
hourToKeepScoutHistory – This setting determines how many hours of scouting data are stored in the database. The information will be destroyed after the set amount of time has passed.
scout sleep time – Sets the number of seconds between each scout.
scout multiplier – Sets the multiplier for the difference between the present state of coin ratios and the prior state of ratios. Before making a deal with larger values, the bot will wait for larger margins to come.
The trading strategy that will be used. For additional details, go to binance trade bot/strategies.
buy timeout/sell timeout – Determines how long to wait before canceling a limit order (buy/sell) and going back to “scout” mode. 0 indicates that the order will never be canceled.
scout sleep time – Determines how long the bot should wait between pricing analyses. Since the bot now uses WebSockets, this value should be set to something modest (like 1). The only time you should raise it higher than 1 is if you notice the bot using a lot of CPU or if you get api problems regarding request weight limits.
Variables in the Environment
Environment variables can be used to configure all of the parameters in user.cfg.
CURRENT COIN SYMBOL:
SUPPORTED COIN LIST: “XLM TRX ICX EOS IOTA ONT QTUM ETC ADA XMR DASH NEO ATOM DOGE VET BAT OMG BTT ADA XMR DASH NEO ATOM DOGE VET BAT OMG BTT ADA XMR DASH NEO ATOM DOGE VET BAT OMG BTT ADA XMR DASH NEO ATOM DOGE VET BAT
USDT BRIDGE SYMBOL
API KEY: vmPUZE6mv9SD5VNHk4HlWFsOr6aKE2zvsw0MuIgwCIPy6utIco14y7Ju91duEh8A vmPUZE6mv9SD5VNHk4HlWFsOr6aKE2zvsw0MuIgwCIPy6utIco14y7Ju91duEh8A
API SECRET KEY: NhqPtmdSJYdKjVHjA7PZj4Mge3R5YNiP1e3UZjInClVN65XAbvqqM6A7H5fATj0j NhqPtmdSJYdKjVHjA7PZj4Mge3R5YNiP1e3UZjInClVN65XAb
5 SCOUT MULTIPLIER SCOUT MULTIPLIER SCOUT MULTIPLIER SCOUT
SCOUT SLEEP TIME: 1 SCOUT SLEEP TIME: 1 SCOUT SLEEP T
com is the top-level domain.
STRATEGY: standard
BUY TIMEOUT: 0 BUY TIMEOUT: 0 BUY TIMEOUT
SELL TIMEOUT: 0 SELL TIMEOUT: 0 SELL TIMEOUT:
Using BNB to Pay Fees
You can use BNB to pay for any costs on the Binance platform, and all fees will be reduced by 25%. The bot will always do the following activities in order to support this benefit:
Automatically determine whether or not you have activated BNB fee payment.
Check to see if you have enough BNB in your account to pay the inspected trade charge.
When calculating the trade threshold, keep the discount in mind.
Apprise’s Notifications
Apprise gives the bot the ability to send notifications to all of the most popular notification systems, including Telegram, Discord, Slack, Amazon SNS, Gotify, and others.
To get started, create a file called apprise.yml in the config directory.
This file includes an example version to get you started.
Telegram’s official documentation has further information if you’re interested in running a Telegram bot.
Run
binance trade bot python -m
Docker
The official image may be found here, and it will be updated when additional information becomes available.
up -d SQLite browser docker-compose
Backtesting
You can put the bot to the test on historical data to see how well it works.
backtest.py in Python
Feel free to alter that file to experiment with and compare various settings and time periods.
Developing
Before submitting a pull request, make sure your code is properly formatted by installing pre-commit:
pre-commit pip install
install before committing
It’s unlikely that the scouting algorithm will be altered. Add a new approach if you’d want to propose a different way.
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