I'm somewhat a brainlet but I run a couple market making bots on low volume shitcoins on binance.
When the DEX becomes available and bot users can trade without counterparty risk (Loss of funds) I don't see any reason why binance won't eat the world.
The issue with DEX's is typically low volume and speed, because you need to wait for the next block (EX EtherDelta, 15s ETH block times)
With BNB chain there's 1 block per second, while funds are still secured by the user. The speed will attract liquidity and market maker bots like myself.
I guess there's no interest? Is everyone on biz too dumb to build bots?
I make $2-3000 a day with 20 BTC liquidity
Lucas Rodriguez
I have no idea where to start.
Landon Johnson
Do you run a grid-like market maker? How do you make sure you don't get stuck with positions you don't wanna hold?
Carson Price
what signal do you use?
Brody Rivera
It fucks up taxation in my country. Bots make it a "professional" venture and have their gains taxed as full income. Beyond that, the number of trades ends up fucking up electronic tax filing and doing it by paper incurs thousands of dollars in fines for submitting too much paper.
Swing trading is a lot more manageable.
Jeremiah Lewis
Did you write one with your own strategy, or do you run one off the shelf? If so, which one?
Aaron Hall
strategy is self-made, trend is your friend, there's a bit of human interaction (whether i'm bearish or bullish on a pair)
my bot -always- has stop losses set. Sometimes in low volume pairs (I trade BNB base pairs, ex XMRBNB), I can liquidated to XMRBTC, XMRUSDT, etc if the liquidity is too low.
I wrote a basic webpage to show my open positions, PNL, spread on pairs, historical trades, etc
I'm also currently writing a market maker for binance DEX as I imagine it will be greatly used in the next coming months
