Introduction
While you are making a strong black cup of coffee or laughing hysterically at memes on telegram, the ‘money manufacturing’ Market Making Bot is exponentially increasing liquidity and building volume with your chosen trading pairs. It does this through innovative algorithms, complex calculations, and thousands of data points gathered from various top exchanges.
This unique combination of data analytics lets the bot execute trades both with lightning quickness and ‘swiss watch’ precision. As a market maker using sophisticated High Frequency Trading (HFT) methods, you possess a positive probability to gain long term profits and are protected from negative one way trade flow events such as black swans.
The abundance of information contained within the NIOX Maker produces a user experience that feels personally customized. Multiple strategies are available to cater to your own preferences and ensure that your liquidity is continually being built, while simultaneously keeping your orders on the books.
Exchanges
NIOX Maker contains API’s with nearly all the leading ‘potent powerhouse’ crypto exchanges (Binance, Kucoin, Loopring, Tomodex, Crypto.com), enabling trading that is familiarly friendly and comfortably safe. On the same note, establishing an integration between your favorite exchange and the market maker is a simple seamless process. API and Secret Keys can almost always be obtained under a ‘settings’ section in an exchange and then directly copied and pasted into NIOX Market Maker’s settings to finalize the adjoining.
Exchange integrations for the future will include: SmartDEX, Binance US, Beaxy, and Catalyx.
Pairs
With over 900 varieties of trading pairs, there is a burgeoning bounty of options to ensure the whole of your diverse portfolio is being profitably put to use.
Main Setting
Our Market Maker Bots correspond to meet your different goals for trading pairs, particular trading sessions, and current market conditions. These are toggled under the ‘Main Setting’ to suit your trading style.
Types of Market Maker Bots
- Smart Market Maker- will continue with your remaining order amount even if it is only partially filled.
- Nonstop Market Maker- is ideal for very choppy 2-way markets, and keeps making the market without taking into consideration any price swings.
- Taker Bot- is a strategy focused on volume generation. It works best with liquidity mining campaigns, but can be less effective for immediate profit.
Amount Portfolio
Here the ‘base order size’ will automatically be set.
Order Size
This figure is represented as the numerical value of the portfolio the bot will use to place its orders.
Refresh Time
Refresh time is measured in seconds and is the time period for a market maker to reset its orders. When refresh time has passed the bot cancels any previous open orders and places two new buy and sell orders. It’s important to note though that if the price doesn’t change, the orders won’t refresh.
Spread
Spread is the comparable difference between two measured quantities. In relation to the market maker bot, spread refers to the percentage difference between ‘buy’ and ‘sell’. NIOX Maker will auto-populate both the ‘Buy Spread’ and ‘Sell Spread’ in conjunction with the current market spread.
Spread Calculation Example
If a crypto pair is trading at $9.95/$10, the buy price is $9.95 and the sell price is $10. The buy-sell spread in this case is $0.05 and as a percentage .5%
Setup Instructions
Step 1: User Registration and Sign In
Connect your Web 3.0 wallet, so that you can begin interacting with NIOX Maker.
Step 2: Add Exchange API Keys
Head to the Settings section and select your desired exchange. Once you have input the API Key and Secret Key from the selected exchange, click the ‘Update Keys’ button.
Below you will find guidelines for each exchange about API and Secret Keys:
Crypto.com: Under the ‘Generating the API Key’ section.
Binance: Under the Account Icon > “API Management”
Loopring: Under the ‘Key Management’ section.
Kucoin: Under ‘Rest API’ > ‘Authentication’.
Step 3: Run Market Maker
Go to the Market Maker tab. Then enter the information for your trading session. Select the exchange for which you have previously put API Key and Secret Key. Choose the pair that you would like to trade. After that pick the strategy you want to use in ‘Main Setting’. Then click on the ‘Amount Portfolio’.
For the ‘Order Size’ input the amount of each cryptocurrency pair that you are comfortable using. ‘Refresh Time’, will be automatically set to 10 second. Likewise the ‘Buy Spread’ and ‘Sell Spread’ will get filled by default in accordance with the current market spread. Make sure that all fields are occupied, and then click the ‘Start Trading’ button to commence your market making session.
Advanced Settings
In the case of experienced users wanting to use advanced settings, toggle the option. You can rotate orders within a defined time gap, set a price band where your bot will place both buy and sell orders, and hanging orders to keep the placed order hanging if one of the orders gets filled.
Market Maker FAQ
My bot is stuck or non-responsive, what should I do?
There can be a small delay when the bot is running and resets your orders. It is a normal function that ensures previous orders have been canceled before placing new orders.
My orders are not getting filled, what do I do?
If this is happening to you, then lowering the spread can increase the chances for your orders to get filled.
I see orders appearing on the bot, but not on the exchange, what can I do?
You should check and verify that your API keys are correct, clear your cookies and cache, and then restart the bot.
The share button is not working for me, what should I do?
It can take up to 5 seconds to generate. This is because it takes a screenshot of the statistics section, uploads it, and then creates your shareable link.
Can I run multiple sessions on the same pair and exchange?
For now you are able to run only one session per browser.
Can I close the browser tab after running the bot?
No. Our bot is designed to run locally on your system, so you will need to have the browser tab open in order to run it. However you are able to minimize the browser. Also to note that if the computer goes into sleep mode, the market making module will stop working.
Where are my API keys stored?
Your API keys are stored locally in your browser session. We do not store any API keys in our database.
Where can I see the final results from my market making session?
This can be found under the ‘Profit/Loss’ section. Profit is subtracted from the maker and taker fees paid out to the exchange.
Tips to Start
Let’s get you going on flawlessly making the market, in an awesomely automated way. Before you start though, we wanted to give you a few of our ‘expert insider insights’ on the best 8 behemoth trading practices for NIOX Market Maker.
- For volatile markets, make sure to use a higher refresh rate.
- In low volume markets, put a higher spread.
- When an asset is trending up, place a higher sell spread than buy spread. Conversely if it is trending down, have a lower sell spread than buy spread.
- Check your trading chart frequently to adjust settings depending on market conditions.
- Don’t use more than 20-25% of your portfolio for an order.
- For better performance in less volatile markets, it’s recommended to use hanging orders.
- Don’t choose too tight of a spread. The spread amount should be set to at least cover the exchange fees (.2% on each side).
- Utilize rotate orders in volatile markets.
Have fun trading with Autonio!
(written by Jacob Isenberg, Conten-Writer Autonio Foundation)
