I am a couple of days into playing with it, and I have to admit I am struggling with the logic of getting it set up right.  I am sure that it is me & not the bot (maybe I am just not smart enough), but I will definitely keep this board appraised of my progress.

I am an experienced trader and own two other bots, but I must admit I am frustrated with this one.  As has been noted by others trying to use this bot, it _appears_ to want to try to trade "backwards".

I did follow the instructions carefully, and double, triple and quadruple-checked with the help files.  They are far from clear, so let me go over them "aloud" here, and maybe somebody can tell me what I am doing wrong.

>>> I have USD in the trade account, so I start the bot near the bottom of what I believe to be the trade swing, setting the "Last Buy" tab to "sold".   I start both RSI bots, using recommended settings;  20sec intervals, buy @ 30% sell @70%, minimum profit block * 6.  To the best of my understanding, this is basic "should work" settings as outlined in the help text.

After watching the bot at these and similar settings, it appears to want to trade backward.  As trade value falls, the RSI numbers go _UP_, indicating the bot wants to sell.  No sale occur because the bot is already in "sold" mode, but no buy occurs low as it should because the RSI is high & high = sell.

I am familiar with RSI, but the bot seems to be using it somehow and for some reason in reverse...?

Having missed the opportunity to buy low, the price will eventually start to rise... and the RSI #s will _drop_!  Low is a buy indicator, so as the price gets high enough, the bot will buy... high!  Having bought high, it will not then sell higher... because the RSI numbers continue to drop (it would keep buying if it could).  Eventually the price will drop, and as it passes where the bot purchased, the RSI will rise... and the bot tries to sell low.  Sensing loss, the "block trade" settings cut in and no trade occurs, but the bot keeps trying the lower it gets ("8:16:27 AM RSI-30 Bot: Profit is too low.
8:16:58 AM RSI-30 bot: Sell level reached 73 %
8:16:58 AM RSI-30 Bot: Calculated profit -0.19 Usd (without fee) (last buy value 123.6 Usd, current sell").

I have tested this with dozens of settings close to the suggested settings, on both BTCe and BitStamp.  I have racked up a lot of trade fees in testing and can tell you that over a period of two days the bot is like clock-work; trying to buy high and sell low.  The log fills up with low sell attempts  but it never tries to sell when it is high & could have made a profit.

Now Stephan, I completely accept that it is me; I am doing something wrong.  The problem is that I have spent hours reading every word in this forum and on you website trying to figure out what it is, and I am at a loss (literally lol).

Now that I have voiced my frustrations, let try to get off the ground with a very specific question:  The default setting in the bot for a sell threshold is RSI 70%.  This is sound RSI thinking.  Why then does the RSI number in the bot _fall_ as the price rises?  Low = buy, which is _exactly_ what the bot does... it buys high every time I let it.

@seanrarey:
I can explain what is happening...

First lets look at the RSI itself. Like i wrote down at the help the RSI indicator is interval based. This means the RSI indicator is using interval based prices as a reference instead of the day based prices. This is the main cause why the RSI indicator responses so fast and why there are 2 indicators inside the st bot.

The RSI stand for Relative Strength Index and it means it gives you a indication to where the currency is going. If the currency is going up then the indicator should go up too. When the currency is dropping the indicator will do down. The interval based RSI uses the last known prices for each calculation. So the RSI-30 uses the last 30 interval prices and the RSI-60 uses 60 interval prices.

I have made some graphs to show you the signal of the RSI bot.


The first graph is the graph of the currency, in this case it is Bitstamp at BtcUsd. The green line is the buy price and the red line is the sell price. The second graph is a graph of the RSI-30 its response. The blue line is the RSI value. The red line (70 = 70%) indicates from where the bot begins to send the signal to sell*. In this case it is at 70 and up. The same applies to the green line, but then its 30% and less. The third graph is one of the RSI-60 bot. Notice the slower response to the currency of the RSI-60 compared to the one of RSI-30.

* ) The sell signal is visible in the logbook as: Sell level reached xx %

Once the RSI indicates the buy or sell signal the trade bot will look to your last prices and wanted drop or raise. The difference is called the "calculated drop" or "calculated raise". This part will also be visible in the logbook as:

RSI-30 Bot: Profit is too low.
Calculated profit -0.19 Usd (without fee) (last buy value 123.6 Usd, current sell price xxxxx Usd).

So this message only shows that if the coins are sold right now, as the RSI indicator wants, then you will be making losses on the trade. So the result is that the trade is blocked until the amount of profit is found too.

Only and only if both signals tell to sell or buy the trade bot will react on it.

BTW These graphs are produced by the software. So what you see here is exactly the response of the software and its calculations.

Your exact problem are your last buy and sell prices and possibly your drop** and profit**. Looking at your entice description i think the sell level is never found. The solution is to lower the last buy or sell prices or to set them to 0.

** ) The need to be multiplied by the trade amount.
I hope this clear up all the questions you have asked.

Which version are you using?
I could start your version (i have all versions here) and the latest version to see it there is a difference. (i will go to bed soon, so i will do this tomorrow)

But in advance... the graphs that i have posted are screenshots taken from the simple trade bot (modified to one image) of the coming update. So you can really reproduce anything that i have said. But you can do this by the end of September.

There will be no changes made to the existing calculations, they should be exactly the same.

Lol, i believe you are not crazy. And i am only try to help you. In 10 hours or so i will so a simple test where i will compare the RSI values of your version to mine here, if there is a bug it must become visible, and if so i will fix it directly.

Hi Sean,

If you would be so kind to give me some time then i can give you the service and support you require. I need to reproduce the bug and i need to confirm you are right. If you are right i will solve the issue and send a update around. But please, give me some time to do so. And please do not make bold statements like the software does not work, because you and i both know this is not true. You even have confirmed the safeties are operational and i am sure that the high/low and the trade ratio bot are both still working as expected. In the worst-case the users will not lose coins because of this software.

I really do not understand why you complain and why you complain is this way. The software you have got works as expected, like i stated it have been tested by others (who i do not know in person) to confirm it too. If there is a bug, like in your case, i will assist you within 24-hours and if needed i will look deeper and solve the issue. This is the service i promised and this is the service you will be getting.

So please stop your complains, give me some time and everything will be alright. I have already proven this a lot of times before.

Stephan

I have to admit i have seen the same happening during my reproduction here. So you are right, the RSI value gives a wrong result. But the result is not always wrong, the result seems to be wrong in some rare cases. It all comes down to the method i use to calculate the RSI value. If a currency is stable for at least 30 intervals and a change is happening then this bug becomes visible. The same happens when a currency is only dropping or raising, then the RSI value did not respond as expected.

The reason why i did not see this bug, and i guess the alpha testers too, is because it is only visible in some situations. It is not visible all the time. The earnings i made last monday and tuesday prove it, because i used the calculation method of the simple trade bot.

But i have some good news too, because i know where the problem is located i have solved it too already. At this moment i am doing my tests to confirm everything still works as expected and once i am done (in a few hours or so) then i will send a mail around to all the users to download the update. I will skip the alpha test cycle because the change i made was not related to trading itself.

There is no danger for the current users, the software will not make losses now, the safeties will ensure it. The update of tonight will only solve an RSI calculation issue.

Thank you for bringing this to my attention!

Edit:
That few hours will be a bit longer then i thought. But i will be back, i just want to make sure each exchange works and i am reviewing the RSI calculations. Sorry for the delay.

I have made a update and as usual i have send everybody a email with instructions.

This are the changes of version 0.8.6.1 beta:
- Exchanges Nmc/Usd and Nvc/Usd are added to BTC-e.
- Italian have been added to the languages.
- Improvement: More detailed error messages.
- Bugfix: A RSI calculation issue has been solved.
- Some minor improvements are implemented.

I hope this solves all recent issues.

Hello Stephan,

Hopefully I´m not bothering you with stupid questions,
i´m pretty new to all this. I bouhgt your bot a few days ago and went down your help-site and stuck at this point:

"...Now lets go first to the profit safety. This safety must be enabled of course. Set the value of the profit safety to 0. Now activate a RSI bot for a brief moment until the log shows a error. If the error is shown de-activate the RSI bot to prevent unwanted sales. The error in the log will show you a minimum profit value. ..."

I´m not getting the Error with the profit value. Probably i´m doing something wrong. What could it be?
I tried it on BTC-e and Bitstamp too. Same on both. When I start the Program the safetys are filled automaticly with some equal values, that´s normal, right?

thx in advance
Greg