Simple Market Maker (FUTURES)

About

The Simple Market Maker for futures trading is a powerful tool designed by pshai in 2020 to facilitate automated market making. This bot is relentless in its operation, free from traditional limitations such as stopping or having a maximum position size, making it an exceptional choice for traders looking to engage actively in the futures market.

How It Works

The Simple Market Maker (FUTURES) employs a unique approach by exclusively using exit order commands. This innovative method, discovered during extensive exploration, eliminates the need for manual position handling, streamlining the trading process. The bot's efficiency in executing these commands, despite appearing unconventional, ensures smooth operation within the futures trading environment.

Limitations

This bot has been build for futures trading only, it does not work on spot.

Performance

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Script Settings

Slot Count

How many orders are constantly kept open on both long and short side

Slot Spread %

Percentage-based spread value between each slot.

Cancel Distance %

Determines how much the price can move in the opposite direction before orders are cancelled and replaced.

Minimum Spread %

Minimum spread percentage between the first long and short entries. This setting is only applicable when the bot has no open positions.

Max. Open Contracts

Maximum open contracts at any given time. After exceeding this value, the bot will dump a portion of position at a loss.

Size Reduction %

Specifies the portion of the position the bot will dump once the maximum open contracts limit is exceeded.

Reduction Order Type

Defines the type of order to be used when reducing the size of the position.

Take profits

Percentage profits which must be reached before taking. (use at least 2x the fee here, so if the fee is 0,2% then use at least 0,4%)

TP Order type

The type of order which is used to take the profits.

Hedge Mode

Hedge Mode works on exchanges like OKEX and Binance Futures with hedge mode enabled (need to set that via Binance Futures website!). Changing this setting while bot is running will cause unwanted behavior!!

Hedge Minimum ROI %

The ROI % the current open position needs to have before we enable the opposite side.

Additional Notes

It is highly recommended to backtest the bot and use simulated trading to familiarize yourself with its functionality before deploying it in live trading scenarios.

More information

For more information, see: https://www.haasscripts.com/t/pshaibot-simple-market-maker-leverage/