Simple Market Maker (SPOT)

About

The Simple Market Maker (SPOT) is an innovative trading bot designed by pshai. This bot is tailored for spot trading, offering a dynamic and continuous market-making strategy without the complexities of handling leverage. It's built to operate within the constraints of maximum position size, ensuring it remains effective and manageable.

How It Works

The Simple Market Maker (SPOT) operates by continuously placing buy and sell orders to make the market. It's designed to run without stopping, providing a consistent presence in the market. Other than the maximum position size, the bot operates without restrictions, adapting to market conditions.

Performance

Script Settings

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. Size

Maximum open contracts at any given time. Exceeding this value prompts the bot to dump a portion of the position at a loss to manage risk.

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.

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:

FlashCrash (Grid) Bot