Hello Gunbotters,
I would like to suggest a new feature for Gunbot that I belive is REALLY important for a trader and pretty much the only thing that I miss in Gunbot. I've also seen some members, especially seasoned ones, talking about this. It's a STOP-LOSS function.
The user should be able to decide if he wants to sell his coin when the price goes down to percentage after he bought. Putting it simply, I might want to get out of a trade if the price goes 10% down. So if I buy 0.1 BTC of BELA at 0.0001 (1000 BELA - fees) and the price goes to 0.00009, the bot would try to exit the market selling my BELA for something close to 0.09. (Basicly if Last Price = Boughtprice - Stop-loss = EXIT market)
Now, BEFORE anyone comes here telling me that's why "Security Margin" is there, it is not. It does not work like that. Apparently (and I might be wrong here), Security Margin works taking SMA (Simple Moving Average) as reference. So, If Last Price < SMA - Security Margin% = Exit (Again, I'm not sure if that's how it works). For me that's a really hard trigger, because if the price goes down slowly, it might never trigger. It's also an issue that I can't be sure of how much loss I'm taking since you can not predict SMA.
So, before I explain my proposal, I would like to say that I already took those 4 things under consideration:
- I understand that Gunthar doesn't like to sell at loss, because he sees his bags as cheap coins. They might be, but sometimes I would rather have something sold at loss, freeing my capital to move again.
- I understand that Gunthar is about to launch a Release Candidate for the bot, with Averaging strategy, to deal with bags. That's awesome, but for me it doesn't remove the need for a stop-loss.
- I also understand that, if the bot start selling coins at loss, noobs that misconfigured SL would go beserker on Gunthar, and that he already has a lot in his plate. I belive that's the biggest issue.
- I know that what I'm proposing may take a lot of work, and that we already have an update on the way. So take it as an improvement suggestion for the future.
So here it goes:
- STOP-LOSS
>>> It should work like this: IF Last Price <= BoughtPrice - Stop-Loss % THEN Exit market. By exit market, I would suggest making a market sell, however the bot could also enter sell cycle overriding selling conditions. (Market sell is probably better choice)
>>> For safer usage, it should come DISABLED by default, so if the user wants it, he would have to ENABLE it. (Something like USE STOP-LOSS? 'no' for default, 'yes' for usage)
>>> It would be wise to put a GIANT red warning on this feature, in order to advise users that it might sell their coins at loss.
>>> Alternatively, it could be a hidden function. May not be the best choice, but would certainly take care of unaware users. Then It wouldn't show on GUI, nor does it come written on config files (by default), if the user wants it, he types himself in the config TXT files.
- STOP-Cycle
>>> In order to guard the user, I also suggest a feature that would STOP the bot after a Stop-Loss triggered and sold. The user MIGHT wants the bot to completely STOP after STOP-LOSS got triggered (As long as it was SOLD), or he may want the bot to keep working, now at lower price levels.
- EMAIL NOTICE
>>> After STOP-LOSS got triggered, GUNBOT could send an email (if configured) in order to warn you that it happened. [Email system already coded as far as I know]
>>> Could also do it, if the BOT got stopped by Stop-Cycle, previously mentioned.
- SECURITY MARGIN, could be kept if there is an interest for it, or could be replaced by STOP-LOSS.
Well, that's what I thouth on how to optimize the bot, avoding the problems that could possibly come along. I would REALLY like some feedback on this, in order to see if there is a greater interest in this feature.
