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CyberPunkMetalHead / gateio-crypto-trading-bot-binance-announcements-new-coins

This is a crypto trading bot that scans the Binance Annoucements page for new coins, and places trades on Gateio
MIT License
1.21k stars 303 forks source link

main issue to be tackled #109

Open nitad54448 opened 2 years ago

gutster95 commented 2 years ago

You simply cant beat those insiders. really the only chance such a bot has is to buy under a second after the announcement and that will simply not happening.

fabray1 commented 2 years ago

Unfortunately as much as I like the idea I totally agree with you @nitad54448 : I have never managed to make any profit from this bot even if I must say pulling the coin through the API has brought a lot of improvement delay-wise.

imo the only way that we could possibly take advantage of this "pump" is to monitor the market at the time Binance announces their coins, and to sort of "buy FOMO" whichever coin is pumping at this time until the announcement is out. The announcement would then be a sort of confirmation, and a signal to sell the coin and not buy it.

I know that this approach definitely is gambling, but I believe it could still work as it seems that Binance releases most of their announcements around 3AM. Statistically if a coin pumps between 2:45 and 2:58 chances are that it is a Binance announcement... unless it's a crook group doing a pump and dump scheme but these usually happen on the hour and not before.

I think I'm gonna work in this direction.