Coygo's Crypto Trading Bots Now Support Limit Orders for Triangular Arbitrage
Coygo’s crypto trading bots now support limit orders for triangular arbitrage!
Hello again crypto traders! I know it’s been awhile since our last update but rest assured we’ve been working diligently to vastly improve Coygo Terminal’s fully automated cryptocurrency trading bots suite so that we can offer the best possible tools for traders like yourself. After months of development and testing our latest release enables our triangular arbitrage crypto trading bot to fully support limit orders! This includes things like allowing you to configure the maximum # of open orders for a trading bot, automatically cancelling any open orders when the bot is stopped, and simulating limit orders when running bots in Test Mode and “paper trading”. This release also improves overall stability and performance and fixes a number of issues identified by our users. If you’ve ever been interested in trying crypto bot trading now is a great time to give Coygo Terminal a shot with a free trial!
A recap for the newcomers
If you’re familiar with crypto/Bitcoin arbitrage software then you may already be familiar with Coygo Terminal, but if not here’s a recap: Coygo Terminal is a downloadable desktop application for crypto traders that offers tools like real-time market insights, portfolio tracking, arbitrage scanning and more. Earlier this year we released a beta for a new feature within Coygo Terminal for creating and running fully automated crypto trading bots on supported exchanges like Binance, Kraken, and Coinbase Pro. Initially we’ve focused on arbitrage trading bot strategies, with our crypto triangular arbitrage bot being our most popular, but we have big plans for the future!
Continue reading for details on our latest release.
Coygo Terminal and Coygo Mobile
Coygo’s triangular arbitrage crypto trading bot now supports limit orders!
For this release, we have completely rewritten our trading bots engine from the ground up to support limit orders. Previously our trading bots have only supported submitting market orders when an arbitrage opportunity is found. New limit order support means that when you run a triangular arbitrage trading bot you can now configure it to submit limit orders at the desired rate, which can help avoid some of the execution risk associated with market orders. Both market and limit orders come with their own advantages and disadvantages and now you have the power to decide which is right for you.
New bot config properties for limit orders
Some details of our trading bots’ limit order support:
Configure the max # of open orders: Bots can be configured with a maximum # of simultaneous open orders. When this many orders submitted by the bot are open, the bot will no longer submit more orders until the previous orders fill.
Auto-cancel open orders when stopping the bot: Any orders submitted by a bot that are still open when the bot is stopped will automatically be canceled.
Test Mode limit order support: All trading bots run within Coygo Terminal can be run in Test Mode. This lets the bot use live real-time order books and simulate submitting orders to let you test a bot’s configuration in real-world conditions without using your real money. Now that bots can submit limit orders, bots in Test Mode will monitor real-time order books and fully simulate filling any open limit orders and updating balances if the price hits the order’s desired rate.
Data accuracy: Market data used by trading bots within Coygo Terminal (such as order books and trade streams) is fully real-time using direct websocket connections between your machine and each exchange. Some sources of data (like wallet balances and the status of open orders) may not be real-time but instead retrieved from exchanges on an interval every 30 seconds or so. When a bot submits an order it will automatically simulate the estimated resulting change on your wallet balances and order statuses immediately. Then that data will be automatically verified the next time the data is retrieved from the exchange (within 30 seconds or so). This allows Coygo Terminal’s UI to show estimated up-to-date wallet balances as soon as an order is submitted, but this also means that there are some scenarios in which the order and wallet balance data in Coygo Terminal may not be accurate temporarily until it is retrieved from the exchange again. (For example, a calculation may be off or you might have submitted an order to the exchange outside of Coygo Terminal, resulting in data being inaccurate for a short period of time.)
Restricted to our triangular arbitrage bot (for now): For this release we are restricting limit orders to only be supported in our triangular arbitrage strategy but you can expect limit orders to be supported by all of our arbitrage trading bot strategies in the future.
View your trading bot’s balances estimated USD value before you run the bot
We’ve made it easier to see how much your bot’s wallet balances are before you run the bot, whether you’re running it in Test Mode with simulated balances or in Live Mode with actual wallet balances.
Test Mode trading bot wallet balances preview
When configuring the simulated wallet balances for a bot about to be run in Test Mode you can specify any amount of fake money for your bot to use. Now the estimated USD value of each balance is also shown to make it easier to understand how much money you’ve allotted your bot in Test Mode (seen in the blue text on the left side).
View USD values of simulated wallet balances when configuring a bot run in TEST Mode
Live Mode trading bot wallet balances preview
When you’re about to run a bot in Live Mode the relevant wallets’ available balances on your connected exchanges, and the estimated USD value of each wallet, is now shown. This makes it much easier to know how much money your bot will be trading with before you run it.
View your live wallet balances when configuring a bot run in Live Mode
Other fixes & improvements
This release also includes a number of stability and performance improvements to our trading bots suite as a whole. We’d like to thank our beta users for helping us identify a number of areas for improvement!
Triangular arbitrage bot fix: Fixed an issue that sometimes caused the bot to attempt to submit an order that was too large and then immediately reject that order. Previously the strategy could sometimes fail to submit orders because it would attempt an order amount larger than the available wallets could afford.
Triangular arbitrage bot fix: Fixed an issue that could prevent the bot from re-calculating spreads and “freeze”. Previously the strategy could sometimes stop calculating spreads and submitting orders in Test Mode if one of the three order books’ asks or bids hadn’t changed since the previous order was submitted.
Fixed an issue that could cause data to load slowly or fail to load when retrieving transaction history from Coinbase Pro.
Bots update messages while they are running will now include more helpful information as to how the bot operates and why it does or does not submit orders.
Bots now include the current update number of each monitored order book in the bot update message. This can help indicate that new data is being received when the bot is not submitting orders.
Get started with Coygo Terminal today for free!
Interested in trying your hand at Coygo’s trading bots? You can start using Coygo Terminal for free today by signing up on our website www.coygo.app. In addition to arbitrage trading bots, Coygo Terminal provides everything else you need for your daily trading workflow. Portfolio tracking, real-time data insights, multi-exchange tracking, market data tools, & more.
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