Trading BTC pairs and ETH pairs on separate instances of GunBot

[chook93]

Hi Community,

Just wondering if anyone has advice, as I have been trading BTC pairs on one instance of GunBot and ETH pairs on another instance of GunBot on the same exchange, often running the same coins ie BTC-NEO and ETH-NEO. They are all set up with the same parameters using bollinger bands

What looks to be happening is I had a Buy of BTC-NEO,  then 3 minutes later had a sell of ETH-NEO, but I had never had so many ETH-NEO buys, it is obviously selling the NEO that I just purchased with BTC. Everyone says the gunbot wont sell at a loss, and I am cool with holding a fair number of bags while the market does its thing, ok no worries.

So I come in with my BTC, purchase NEO (for example and others) and end up with ETH, all the while this has been happening for approx 1 week. In that week BTC has risen approx AU$1000 and ETH has lost approx 20% in the last few days while this has been happening. I had kept topping up my account through the week trying to increase my amount per trade so never really picked up on it earlier. But it has been an expensive lesson.

So I don't know if there is something that I am missing but I think that is what has been happening, but I have learnt my lesson. Don't trade the same coin with both BTC and ETH on the same exchange, being on different instances of the GunBot or not. Now I have a more Etherium than I would have liked, that I am going to have to sit on till it bounces back, and miss out on the gains that are occurring by holding that same amount in BTC, as its been going nuts.

I hope I have expressed myself clearly enough and that this might help someone else from getting burnt. If anyone has other experiences or can offer any additional advice or insite I would love to hear it as I am very new to this.

Regards

[BeagleMan]

Something similar happened to me, but on a shorter time frame tonight. I thought maybe it would be a good idea to trade the top five BTC and top five ETH pairs at one time despite some of their overlap (all the same BB config). I assumed it would allow for arbitrage opportunities. Initially everything looked good. It would buy an altcoin in one currency and then sell in another (or vice versa after a while). Unfortunately, the sales are listed in their main currency so it was difficult to tell whether it was a winning strategy.

I set it up and decided to let it do its thing for a while. I came back after 5 hours (saw a movie) and found that my account's value had dropped 8%. Most surprising was that almost all of my money found its way over to ETH. Unfortunately Gunbot wasn't able to take advantage of some volatility in a couple coin pairs due to insufficient BTC funds because of it.

I'm proud to say that after two hours of untangling things in the config file so that BTC and ETH are playing in separate corners of the cryptoworld, I'm up about 2% (~$100) and now my BTC and ETH are about equal now. No doubt Gunbot is an incredible tool, but it's certainly not a magic money making machine. Nor is it a black box. It takes monitoring, patience, and tinkering to create gains.

[cryptosticks]

Yes.  We are all singing the same tune.

I use different API keys, for different accounts, at Bittrex to allow GunBot to play nicely.  I trade ETH-OMG and BTC-OMG separately (using unique API keys and a separate instance of GunBot)... and life is good.

[Dnkydck]

How long it takes to get second Bittrex account up and running, there might be delays when they see im trying to open new acc or should i register with some other name?

I believe they dont ask to IDs

[cryptosticks]

They do require ID for the ENHANCED verification.  You would need to do that for every duplicate account.

It wasn't hard for me to get two (2) accounts.  But now that I'm trying to get a third account it is taking forever.