This is part 5 in a series of articles on the Nefertiti trading bot. If you don’t know what Nefertiti is or does, please refer to part 1 in this series.
A token doesn’t really have any liquidity until it is listed on an exchange. Becoming listed on an exchange is a momentous occasion for a new token, and it is seen as an important signal for crypto traders.
When an exchange has listed a new coin, that market usually sees a huge spike (followed by a dump). Crypto veterans know how large an impact being listed on particular exchanges can have on a coin’s price trajectory; just look at what happened when Coinbase made support available for Bitcoin Cash earlier than was expected.
See also: Binance Listings Cause 80% Increase in Coins’ Value (prices quickly revert back to pre-listings levels however).
There are several bots and apps out there that can notify you when an exchange has listed a new token. Crypto Tracker Bot, for example, is an excellent example of such an app.
Starting with Nefertiti 0.0.16, we’re pleased to announce a new buy signal named
listings. While listening to this signal, the Nefertiti trading bot will buy a new coin as it appears on the specified exchange. Here’s how to set that up.
As usual, you’ll need to start two bots that are designed to be running in tandem;
sell. We recommend starting your
sell bot first. Open a new Terminal (MacOS) or command-line (Windows) and then execute this:
./cryptotrader sell --exchange=HitBTC --strategy=1
The important thing to take away here is the strategy we have chosen.
strategy=1 aka the trailing strategy is very effective for new listings. This strategy will place so-called take profit orders and move them up every 5%.
Now that you are running a
sell bot, it is time to start your
buy bot. Open a new Terminal (MacOS) or command-line (Windows) and then execute this:
buy bot will listen to new coins as they appear on the specified exchange. The
repeat=0.084 argument will instruct the bot to do so roughly every 5 minutes. Please refer to this earlier article for information on the other arguments.
Nefertiti is freeware. But if the bot is making you money, then I’d appreciate a BTC donation here:
Your donation will improve the bot and keep this project moving forward. Thanks!
Disclaimer: investing in crypto is high risk. Never spend money on crypto you cannot afford to loose. Use crypto bots at your own risk.