Gunthy
GUNBOT: The automatic profit generator => General Discussion => Topic started by: Larz on May 19, 2019, 10:56:51 AM
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I'm currently running gunbot on BitMex Testnet (recently upgraded to 12.9.9.2, which my reseller sent me as it fixes a bitmex_testnet bug) to fine tune a margin strategy before I point the bot at BitMex proper.
The one thing I'm not sure about is whether it's better to leave gunbot to decide when to sell at a loss or to set a stop loss using STOP BUY ORDER and STOP SELL ORDER in the margin settings.
The latter would protect against a situation where the bot is for some reason offline during a spike and might save the position from liquidation, but the bot strategy (provided it's online) might make the better decision based on indicators?
what do you think and how do you set up your margin strategies?
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Hi, it depends on what strategy you want to execute. The bot will always try to sell with profit, which is good, but it also can lead to get some bags, if you don't want to deal with bags, you can use stop loss or Reversal trading.
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thanks, makes sense.
There is obviously also the stop limit parameter in misc settings. In my case that's set to 60% anyway.
So I guess when using, say, a 10x leverage and setting stop buy and stop sell in the margin settings to 6 would achieve the same result, only it would put the stop on BitMex's order book when opening the position whilst gunbot would look after the stop limit parameter itself?
Might be interesting to have it on the order book as an insurance if gunbot is offline for some reason.
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thanks, makes sense.
There is obviously also the stop limit parameter in misc settings. In my case that's set to 60% anyway.
So I guess when using, say, a 10x leverage and setting stop buy and stop sell in the margin settings to 6 would achieve the same result, only it would put the stop on BitMex's order book when opening the position whilst gunbot would look after the stop limit parameter itself?
Might be interesting to have it on the order book as an insurance if gunbot is offline for some reason.
Hi Larz, for Margin trading, when you use stop_limit from "Misc" tab, it's executed when the ROE reachs the amount you set.
If you want to leave the stop loss placed as "insurance", you can use stop loss buy and sell from "Margin" tab.
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May I seek confirmation if I understand correctly;
In margin trading;
- The stoploss under misc would act as a set percentage of what you call "gain" in long position?
- presumably the "Stop sell order" acts as what you call a stoploss in a long position
What does the stop buy order do?
thank you!
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Stop buy and Stop sell it's the same concept, I mean, it stops when the price goes to the wrong direction.
If you opened a short at 100 and you set Stop Sell to 2, if will stop at 102
If you opened a long at 100 and you set Stop Buy to 2, if will stop at 98