This one’s proved to be more difficult to test and troubleshoot compared to some of the other crypto trading bots that I have made in the past.
A quick recap if you’re just landing here: last week I wrote a crypto trading bot that is able to detect new coin listings on Binance and automatically place buy and sell orders within seconds of the listing going live.
The idea came to me after observing the behaviour of initial coin listings on Binance. Multiple coins skyrocket at the time of the listing, some even as much as 10x in a matter of minutes before normalising. Manually trading that would be impossible, but a well optimised trading algorithm may be able to pocket some nice gains from it, at least in theory.
I have made a video about my experience with this bot during the last few days, where I have also explained how it works and how to easily set it up yourself if you’re curious to test it out. Check it out as it goes into some more detail into the logic and why it technically works.
As for my test results so far, the bot did correctly detect two new coin listings on Binance this week, but it failed to place an order on either of them due to and error in the code, so it just broke instead.
I’ve now fixed the error, re-started the code and waiting for a new coin listing, while crossing my fingers and squeezing my butt-cheeks, hoping that it works.
It’s not often that code makes me superstitious, but I’ve taken every precaution to ensure that the code will execute correctly during the next iteration, including drawing a circle of salt around my computer to deter any supernatural beings from interfering with my code.
So it’s a bit of a waiting game, but I’m hopeful that the script will execute correctly and that we will see some new coin listings next week as well as some sweet sweet bot action.
For a guide on the bot see this article here.