Automated Trading Updates

28 September 2019

I've been hard at work making improvements to the automated trade execution bot. In fact, this is one of the biggest releases to date...

First off, some important changes to the Deribit integration...

  • Deribit API integration updated to V2 of their API. They will retire V1 in October, so if you are trading on Deribit you will need to update your trading bot to this release.
  • Deribit has moved away from referencing contracts when talking about order sizes, and now tends to favour USD. There UI has updated for this, and the new version of the API only lets you specifiy order sizes in USD. As a result of this, we've updated to using the same units as their UI and API. What does this mean for you? Previously, if you placed an order with amount=100, it would have meant 100 contracts, or $1,000 (as 1 contract is $10). Now when you place the same order it will mean $100, and order sizes have to be multiples of 10. Don't worry - we sort out the rounding issue, but you should be aware that your order sizes will be treated differently after the update.

Plus, I've added 2 really useful new order types...

trailingStopLoss()

This will place a stop loss order a certain distance away from the current price, then track the price. If the price moves away from your order by more than your original offset, the stop order is moved.

On release this only works on BitMEX and Deribit. Bitfinex and Coinbase implementations will be coming soon.

Read the docs here.

trailingTakeProfit()

This is similar to the trailing stop loss order, only it will wait for the price to reach a trigger value first before placing your trailing stop loss order.

For example, if you open a long position, you can configure the trailing take profit to wait for the price to rise by 3%, then start a trailing stop loss order that trails the price by 0.5%. If the price keeps going up, you'll bank it and when the price eventually pulls back again, the stop will be triggered to close your position and take your profit.

Again, this is only working on BitMEX and Deribit for now. More soon.

Read the docs here.

Some images from Unsplash

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