#asknostr is there a platform or app that I can use to sell a bit of #bitcoin every time the daily candle goes +10% ? And buy some when it goes -10% ?
Discussion
ChatGPT gave me this answer by the way: Yes, there are platforms and tools that can help you automate buying and selling Bitcoin based on specific price movements, like the scenario you described (buying when the price drops by 10% in a day and selling when it increases by 10%).
### 1. **Crypto Trading Bots**
- **3Commas**: A popular platform that allows you to create automated trading bots. You can set up custom strategies, including conditions like percentage-based price movements. It integrates with major exchanges like Binance, Coinbase, and Kraken.
- **TradeSanta**: Another user-friendly platform for automated trading. It offers pre-set templates and custom trading strategies based on price triggers.
- **Cryptohopper**: Similar to 3Commas, Cryptohopper allows for detailed strategy creation. You can set up bots to execute trades when certain conditions are met, like price changes.
### 2. **Exchanges with Conditional Orders**
- **Binance**: Binance offers a variety of order types, including stop-loss and take-profit orders, which can be set to trigger based on price changes. You might need to use the API or a trading bot for more complex strategies like the one you described.
- **Kraken**: Kraken also supports various advanced order types that can be used to set up conditional buy and sell orders.
- **Coinbase Pro**: Coinbase Pro offers conditional orders, though it might not be as flexible as some other platforms. However, you can use API access for more advanced strategies.
### 3. **Custom Scripting/Using APIs**
- If you're comfortable with coding, you can write a script that interacts with exchange APIs to monitor daily candle movements and execute trades accordingly. Python libraries like **ccxt** can be used to interface with many crypto exchanges.
### 4. **TradingView Alerts + API**
- **TradingView** allows you to create custom alerts based on percentage moves. You can integrate these alerts with a platform that supports webhooks (like a bot or an exchange that accepts webhook commands) to execute trades automatically when those alerts are triggered.
### 5. **Pionex**
- Pionex is an exchange that has built-in trading bots. You can configure bots to execute trades based on price movements, and it also offers grid trading bots which can be useful for buying low and selling high based on predetermined price levels.
### Things to Consider:
- **Volatility**: Bitcoin is highly volatile, so it's important to consider the potential risks of automated trading based on specific triggers.
- **Fees**: Automated trading can lead to frequent trades, so be mindful of the trading fees on your chosen platform.
- **API Limits**: If you’re using APIs, be aware of rate limits and any other restrictions imposed by the exchange.
Setting up an automated strategy like this can help you manage your trades without needing to monitor the market constantly. However, it's important to thoroughly test and understand your strategy before deploying it with real funds.
Maybe you can convince nostr:npub1dmcd5wqd3yku05svp6xqk5gyywek4cgg0w3dk63tcu0rmjxnanns5xutjm
Yeah good idea. 😃
And Venice.AI gave me this answer: Yes, there are several platforms and apps that allow you to automate your Bitcoin trading based on specific conditions like daily candle movements. Some popular options include:
* Binance: Offers a "Stop-Loss" feature that allows you to sell your Bitcoin if the price drops below a certain percentage.
* Kraken: Provides a "Trailing Stop Loss" feature, which can be set at +10% or -10%.
* BitMEX: Has a "Settlement Index" feature that triggers a buy or sell order when the daily candle moves by a specified amount.
Additionally, you may consider using third-party trading bots like:
* 3Commas: Offers a "Stop Loss and Take Profit" feature that allows you to set conditions for buying and selling Bitcoin.
* CryptoHopper: Provides an "Automated Trading Bot" that can be programmed to buy or sell based on specific criteria.
Before using any of these platforms or apps, make sure to research their fees, security measures, and trading limits. It's also essential to understand the risks involved in cryptocurrency trading and consider your investment goals before automating your trades.