- September 30, 2019 at 12:39 pm #5982JustinModerator
You’ll notice on the Auto Trade Dashboard that Binance is now available.
We will follow shortly with guides and details, but for those of you who know what you’re doing, feel free to hop on in and check it out!
You’re also welcome to ask questions here.
- September 30, 2019 at 5:42 pm #5984blindParticipant
I can only auto-trade 1 coin at time?
- September 30, 2019 at 8:33 pm #5985
That is correct. Since this is designed to trade rather do portfolio management, it does trade in and out of one pair.
There is an FAQ here that explains the reason: https://crypto-ml.com/auto-trade/#Frequently_Asked_Questions
I have copied some of the answer here for ease:
When the first “buy” order is initiated, all available fiat (e.g. USD) will be used to purchase your selected cryptocurrency. For example, if you have the BTC/USD pair selected, Auto Trade will use your entire USD balance to buy BTC.
Likewise, if a “sell” order is initiated, Auto Trade will sell all funds stored within that crypto. For example, if you have the BTC/USD pair selected, Auto Trade will sell your entire BTC balance for USD.
As such, you should create an account specifically for Auto Trade and only put in as much money as your particular risk profile allows. Do not ever invest more than you can afford to lose.
- September 30, 2019 at 9:39 pm #5994
- October 1, 2019 at 2:17 am #5997matthew55Participant
is it correct to say that it’s still not possible to simultaneously connect BOTH Coinbase Pro AND Binance at the Auto-Trade function?
If so, it would be really helpful to allow us to connect those 2 different wallets 🙂
(I guess this shouldn’t create any issue because the amounts on the 2 wallets are completely separated)
Can you please let us know if you intend to do so or if it’s something not feasible at this time?
Thank you as always, Matteo
- October 1, 2019 at 11:21 pm #6003daam37Participant
Agree. It would be very useful to connect both CoinBase Pro and Binance at the same time, with a single crypto-ml account.
- October 2, 2019 at 10:47 am #6005
Thank you for confirming this feedback. We have added as an enhancement request and will review.
- October 2, 2019 at 8:27 pm #6007kwParticipant
I can’t speak for daam37 or Matteo, but the only reason I would want to connect both simultaneously would be to have Auto trade for multiple pairs. So if it were feasible to add multi-pair auto trading to a single exchange, say Coinbase, then I wouldn’t care about having support for more than a single exchange.
I have some ideas about how to possibly implement multi-trading pairs on a single exchange that seems fairly simple. I would be glad to share that with you, if you like.
- October 2, 2019 at 8:51 pm #6008jessica.cryptoModerator
And yes…the “multi-pair auto trading” user story is absolutely something we’re hearing from our customers loud and clear. Going Binance and Coinbase Pro to pull this off seems like more of a workaround.
I’d love to hear your thoughts on this.
PS – I know we have someone from our team who will be reaching out to you later this week!
- October 3, 2019 at 8:30 pm #6027kwParticipant
Great! So here are my thoughts on one way to go about implementing multiple pairs. I have a simple version, and a more complicated version in mind. I will just start off with the simple version. This may be a bit difficult to explain with words, but here goes….
So let’s say I have $1000 of USD or USDC in my Coinbase account. The Auto Trade interface would allow me to specify an amount of fiat or stable coin to each trading pair.
So in total, $500 of USD is allocated towards trading and $500 would sit idle. Let’s say there are no trades open.
1. BTC long signal hits. The bot would buy $200 worth of BTC (0.025 BTC). USD is now $800.
2. ETH long signal hits. The bot would buy $100 of ETH. USD is now $700.
3. BTC trade closes in profit. Sells 0.025 BTC for $220. USD is now $920.
4. At this point, I could choose to go and change my BTC allocation to $220 or simply leave it at $200. Maybe there’s an option to automatically compound profit into your trade allocation.
4. LTC long signal hits. The bot buys $100 of LTC.. you get the picture.
In other words, the bot works pretty much the same as it does today, but instead of using the entire USD balance to open a long, it only uses the amount specified by the user. By doing it that way, it seems like you would be able to trade multiple pair simultaneously.
So that’s just one idea I had, but maybe there are other ways to go about it as well.
- October 3, 2019 at 12:43 am #6013matthew55Participant
Well… Yes, I confirm what @kw has said…
Having 2 exchanges connected at the same time, right now, would be especially useful for trading multiple pairs in the same wallet…
This is something which was not possible in the past (with only Coinbase Pro) so if thought it would be easier to implement now that you’ve added Binance
Of course, if you find out a way to allow multi-pair trading on the same exchange (maybe the one with lower fees?), the problem is solved 😉
At that stage, the best possible solution (for us, as customers) would be to allow trading on all the 4 coins you actually have (regardless of how many exchanges have to be linked to Crypto ML)
Thank you in advance for taking into consideration our feedback
- October 4, 2019 at 11:22 am #6030jessica.cryptoModerator
Thank you both so much! Great detail @kw.
Whether hard values or percentages, taking the approach you recommend definitely makes sense and this concept seems to be in demand. In the scenario you outlined, it seems there is no adjustment needed on the sell side, just the buy side. We’re having our integration team look at this in more depth. 🙂
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