My First Trading Hive Dogecoin (part 4)

in #hiveengine5 months ago

Good week-end HIVE and Dogecoin community !


My HIVE POWER is low, so I have stopped the audit of my bot a bit (for few days) ... Which is a good thing, so I can focus on my next bot developments while regenrating naturaly my Hive Power jauge...


Introduction

Building a trading bot is probably the oldest program that humans have always tried to code ... Whatever it is in traditional banking system and so of course on the crypto exchanges, there are probably millions of bots running on each exchange in both trading systems.

I'm not currently spending time to predict exactly how any coin or token will increase or decrease its price in the future. Also, I'm not analyzing all the ongoing crypto market to forcast and to know which Coin or Token to click Buy or Sell button.

I'm trying for now to focus on a simple bot to help me clicking Buy and Sell button of HiveEngine exchange instead of myself while I can live, write, code and sleep.

Automating very simple bids to earn some few cents of tips while providing the better ongoing bids for users.

You can read my previous post to understand my approach, mostly on a DIY way to build a simple bot on Hive Engine with PHP or Python little programming skills :
https://hive.blog/trade/@onlydoge/my-first-trading-hive-dogecoin-part-1
https://hive.blog/hiveengine/@onlydoge/my-first-trading-hive-dogecoin-part-2
https://hive.blog/technology/@onlydoge/my-first-trading-hive-dogecoin-part-3


Biding with Hive Engine Tokens

In my previous work I easily succeeded to make a bot to automaticaly bid on a range of HiveEngine swap coins like Swap Bitcoin, Litecoin, Ethereum or Dogecoin. Interfacing the decision making with famous Coingecko APIs (https://www.coingecko.com/fr/api/documentation). I call the Coingecko API to get the current ongoing price and
I call the HiveEngine API (https://hiveengine.readthedocs.io/en/latest/hiveengine.market.html) to get the ongoing Sells or Buy concurrent bids and place my buy and/or sell order on Hive Exchange (https://hive-engine.com/) just to earn few micro cents.

Now I'm working on handling tokens, so for a good example I will start trying on a strategy to place automaticaly Sell or Buy bids on the LEO tokens (https://hive-engine.com/?p=market&t=LEO), which is a Hive very famous token. I won't call Coigecko to get the ongoing price but will only rely on HiveEngine exchange activity. I will just use HiveEngine API to get the list of ongoing Sell and Buy books and put my bid just right at the middle of them. Still to try earning few micro cents after it.


Earning some Hive Power is critical

As my account is not very high in the Hive Community, my resource credits level is very low (https://hive.ausbit.dev/@onlydoge), I need more Hive Power to be able to proceed more transactions regardless my available Resource Credits. Everything has a cost on HiveEngine, whatever it is votes, posts, comments or transactions, this is to avoid and regulate abuse on the Hive networks.

So I'm also working and focusing on a strategy to calculate in live my Hive Resource Credits (https://developers.hive.io/tutorials-recipes/calculate_rc_recipe.html), so I have the necessary data to know if I have still enough Hive RC to allow the bot bids or if I have to accumulate some SWAP.HIVE.

Because once I accumulate SWAP.HIVE thus I will be able to convert them to Hive using https://beeswap.dcity.io/convert. So finaly I can proceed to my Power Up on my Hive account. It will work ... right ?? Except if someone as an automatic way to convert my SWAP.HIVE to Hive.

I already know how to convert Hive Dollar to Hive so I can Power Up (https://wallet.hive.blog/market) but I haven't found an automatic way to convert SWAP.HIVE to Hive.


What next ?

There are already few great projects on interfacing with the world of crypto Exchanges that you can find on Github as Open Source code (MIT License), you can easily google some. Personaly, I'm not looking for big farming and I like the Hive exchange tech environment.

Once I'm done with managing Swap Coins and Tokens on Hive Engine, I will work on trying to automatize the implementations of 200 different technical analysis routines using these Open Source projects :
https://www.ta-lib.org/function.html
https://scikit-optimize.github.io/stable/install.html

Based on mathematical algorithms issued by financial market experts, will the bot be able to predict the trends and movements of the markets in order to make a rational decision ? Will the bot will be able to put the best Buy and Sell orders to find any profits ? If I can't predict the future of any coins or tokens, will the bot be able to do better than me ?

To be continued ...

Please, feel free to express your ideas and recommendations.

Have a good week-end Hive Community !

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What they learnt me is, that a human can read the price action better, a bot works good, but you need continue to adjust them. Keep up the good work. Hive on!

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