Post
Topic
Board Trading Discussion
Re: Chrome Browser extension: MtGox trading bot
by
ReCat
on 31/05/2013, 17:55:06 UTC
Don't be surprised if this bot is running a specifically unoptimized algorithm to decide how to trade, which in turn leads to more profitability for the creator. Never trust bots that aren't programmed by yourself. The only bot that can truly be on your side is one you've written from absolute scratch.

The code is open source. Anyone can check the code to see if there's any weird stuff going on.

I know. I'm not saying that it's sabotaged, I'm saying that it's probably an inferior version of what the creator privately uses for himself. The trading deciding algorithm can be unoptimized, or optimized. Both being legitimate trading algorithms, but one resulting in a less favorable result than the other. Resulting in scenarios that are easily exploitable by the optimized trader. I'm a programmer myself, so I know this to be a possibility, which is why I don't trust it.

If you can understand the code it's best to go out and create your own private trader.