Welcome back to the
HassOnline training series,
in this session we're going to
take a look at the Orderbot.
Now the Orderbot allows us
to add conditional orders to
any of the changes we support,
meaning that we can
have conditions such as
if the price is this or
if this price is that,
we can also say only execute an order if
the previous order was executed.
This allows us for a large
amount of versatility in the
way we actually set our
orders and what happens after
we set them in an automated fashion.
Another nice thing to note
is since the Orderbot doesn't
actually place the orders on
the exchange 'till the given
price is met, we can
over-leverage our BTC and have
a larger amount of pending orders,
than we might've been allowed
to do on the exchange itself.
So let's go ahead and jump right into it.
All right, so let's go
ahead and get started,
first thing we got to do is
log into the Hass instance,
and, the Orderbot is
interesting 'cause it's one
of our more basic bots, and
we find that our user base
is using its implemented strategies like,
the 'Little Old Lady' or
the 'Nanny Nibble Strategy,'
if you're not familiar with
those you can definitely
find them online, or we
might cover 'em later in
the official Hass videos,
but for now, let's go
ahead and add the bot,
so as usual on the left
hand side click custom bots,
hit the plus sign,
and then we're just going
to kind of scroll down
'till we see Orderbot.
So go ahead and click that,
and as usual let's just use 88 BTC.
Go ahead and add the
bot, and click into it.
Now immediately you'll notice
a bit of a different interface
than we're used to, generally what we see
is a bunch of settings,
however now we just have
general settings and then this
'add pre-order.'
And of course we have a full
screen so there's actually
more functionality to the Orderbot
than what's being presented.
So let's look at the very
basic usage of the bot.
Now, obviously we have
our general settings
bot name, account and market,
and then we have this pre-order
button, so let's go ahead
and click that.
Now, when we click 'add
pre-order' we'll get
this edit order button window show up,
and there's few settings within it.
So the first thing we have
is our order template type,
this can be limit order, market order,
no timeout limit orders, et cetera.
Then we have our direction,
are we trying to buy or we trying
to sell within this order.
So in this case let's go ahead
and say we're going to buy.
Now, we have a target
price, now in order to get
this target price I have to
be looking at the charts,
I don't have it open, so let's just say
that looks like a good price,
and we want to buy a thousand, 88.
Now, that is enough to hit
save and have this execute
the order, however we want to make sure
we add some conditions.
So what we can do here, is just we can
do before and after order,
obviously we don't have one
set, so we'll have to come
back to this, and then
we have our trigger type,
lower, higher than or default.
Default means just execute
the order immediately,
but let's say I want to
do that by when the price
is lower than, 0.015.
Now what this says is that
if the price is ever lower
than 0.015, I want to
place a buy order for 0.01,
or at 0.01 BTC of a thousand.
So if I hit save, we'll
notice that this shows up.
Let's go ahead an add another
order, I want to set a sell
immediately after we buy,
so I'm going to go ahead and set a sell,
let's say our target
price is 0.02, a thousand
88 since that's what we bought,
and we want to say after order,
buy a thousand 88 at 0.01.
Trigger type, let's say we
don't want to put the order
immediately on the order
book, 'cause we don't want to
effect the order book, when
the price is higher than 0.019.
So anytime the price is higher
than 0.019, I want to place
a sell order, at 0.02, for a thousand 88
only if the first order, our
buy, went through, hit save.
And now we'll see we have two orders.
So the way this spot will
work is it'll constantly
re-trim the price, it's
a very low resource spot,
so you can have tons of these,
we have users who have over
200, 300 of the Orderbots,
just sitting there
waiting for prices.
And what will happen is, we
have our first order of a buy,
at 0.01, and only if the
price is less than 0.015.
So if that occurs, place our buy order.
Next we have a sell order,
so if we bought the coin
then at any point the
price is above 0.019,
we want to set a sale at
0.02, for a thousand 88.
But we only wanted to do that
if the first order happened.
Now I know what you might be
saying, okay well that's cool,
can I do another order?
Well yes, you can.
The Orderbot allows you
to place as many orders
based on different conditions
as you want, so if I can say
I want you to do, before
the sell, but after the buy.
So between them.
It can get rather confusing
but just note that it's
granular enough so you can
do one buy and multiple sells
down the road, or one sell
and buy your positions down,
so kind of like a DCA sort of
behavior, it's just not automatic,
you have to preset it.
So that's the very basic usage of the bot,
so let's go ahead, I'm going
to delete these orders.
And let's take a look at
the full screen options.
So we click full screen,
you'll see here we
have our standard full screen
interface, we have the bot
we're looking at, the chart
interval, and then our standard
options up here.
We go to general settings,
we have our general settings
as you can imagine, then
we have our pre-orders.
Now this is the exact
same interface as the
add pre-order on the other
screen, so we're going to go ahead
and skip this.
Then we have our template manager.
Now we understand with certain
strategies there's the fine
templates, specifically
with the 'Little Old Lady'
and the 'Nanny Nibble' strategy,
and you might not want to
set up the pre-orders yourself every time.
So what we allow you to
do is create templates,
so if I click a new here, I
can give this template a name,
so we'll just name it template,
and we can actually set our
buy and sell orders the same
way as we did with pre-orders.
So I can set, you know I want
to buy, target price, 1%.
Now what this means is
when we add the template,
it's going to ask us
what our target price is.
This is the, think of this as
the base price for every other
calculation we're going to do.
So what this is saying is from
our target price, we want to
do 1% below that, for the amount of 100%,
so this is also going based
on the amount of coins,
so if we say a thousand coins,
obviously we're going to
use all a thousand of the coins there,
and then we set our trigger type lower
than trigger offset percentage,
this is what our trigger value
is, and then we can actually
set an offset to it, so I can just say
lower than or I can
ignore it all together.
And then we have the same
thing with sell orders, we have
our target price so I want
1% above our base price,
I want to sell it all, only after
when buy order one's filled.
And that's it.
So, let's say that's our template,
we can go ahead and click
save, and now we'll have
this template show up, and
we'll be able to select
this order template to be inserted.
So if we go ahead and select
that, it's going to ask us
what's our base price?
0.015, middle, or a thousand.
We'll hit insert, and
then if we look back here,
we'll see that our target
buy and sells are set.
And that's pretty much
it for the Orderbot.
It's very straightforward,
but it can be used to create
some very interesting
strategies across a large amount
of pairs, since the Orderbot is
a very low research intensive bot.
We can also set up conditions
for as, or should I say
as complicated or as simple
as we want, and the bot
will execute 'em.
Now, I mentioned that we
can over leverage our BTC,
what I mean by that is I
can have five BTC's worth
of orders pending, waiting
in Hass, but I only have one
BTC in my market.
So if we're doing a
strategy like 'Nanny Nibble'
where we're waiting for
certain prices to be hit,
we don't want to just
rely on certain markets,
we want to spread that out
across as many markets as we can,
that way when the prices actually do hit,
we can immediately issue
our buy, and then set up
the rest of the sells strategy.
I know you're probably confused
on what a 'Nanny Nibble' is
or 'Little Old Lady,' you
can definitely look 'em up,
I have a video online
on a different channel
regarding 'Nanny Nibble,' and
I'll definitely be looking at
bringing that into Hass main proper.
As always if you have any
questions you can leave
a comment below or join us on Discord,
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when the next ones come out.
Until next time.
