Different exchanges calculate how their fees are applied in different ways. There are C1 and C2 models. Where C1/C2 is a currency pair, ETH/USD for example. In leonArdo wherever you see Effective Gain we have figured out what the gain is after fees have to be paid on both sides. So for example you buy currency C1 for $100 and sell for $110. The gain is not 10% as the fees on both those trades have to be calculated. leonArdo does that based on each particular exchange's conditions and shows you what your effective gain is.
Best wishes,
Jonathan
Thats what I understand. However it does not seem to be happening so.
For eg. for Bittrex fees are 0.25% per transaction.
So, if I have purchased a pair for $100, and I wish to sell it for a minimum gain of 2%, the minimum selling price should be calculated as following:
Effective cost = $100 + 0.25% of $100 = $100.25
Effective gain = 1% of 100.25 = 2.005
Final Selling price (after deducting 0.25% on selling transaction) should be 100.25+2.005 = 102.255
102.255 = Selling Price - 0.25% of Selling Price
Selling Price = 102.255/0.9975 = 102.5113
So, the margin maker bit should put the sell order at minimum of 102.5311 to make a minimum effective gain of 2%
However, this did not happen and the selling order was at a lower price than this, and as such the effective gain was less than 0.34%
But since many users are already using this without any problem, I guess I have some incorrect settings, and I need to tweak it more to get it correct.
So far, I am impressed with the interface of the program and its responsiveness and integration with Bittrex. So thumbs from me.
I just need to get a bit more hang of this to purchase it, which I intend to do in a week or so.
Quick question: Would it be possible for you to explain what is the difference between effective margin and minimum effective gain.
And what is the minimum profit the bot aims for when I put in a negative value in min effective gain. I understand that with a negative value, it could try to take a loss on a hope for further profit. But when it has a chance to make a profit what is the minimum it aims for (with a negative value in min e=effective gain)
Thanks for your patience and help.