Post
Topic
Board Trading Discussion
Re: Binance bot for new listed coins
by
mikeywith
on 17/10/2020, 21:46:27 UTC
Very many people use bots for buying and selling coins but until now there is no bot that can buy coins for the initial open exchange .. on Binance exchanges.
everyone wants it so badly because it will be easy to profit in just a few minutes.

There is no such thing as easy profit, if that is the case they everyone would be using it,what the OP is requesting is fairly easy to implement, Binance API is open-source and is relatively easy to work with, all you need is a bit of Javascript skills.

By using

Code:
GET /api/v3/ticker/price

According to Binance API, you will get

Quote
If the symbol is not sent, prices for all symbols will be returned in an array.

So what you want to do here is to store that array and compare it against the next array you get, if a symbol is present in array2 but not in array1 then that's your new listed coin, you can run this script every 60 seconds and this will ensure that the maximum time you are going to miss will be 60 seconds, but you wil need market orders not limit orders.

You will of course need to go through some validations to avoid buying new pairs that are generated from coins that were already there, for example, if Binance adds LTC-XRP, comparing the two arrays will give you a false positive, so a few IFs are going to be needed.

Of course, the real thing will be a lot more than the simple explanation I have given, but any mediocre Javascript programmer can make it.


Keep in mind that many coins actually tank when they are listed on Binance, especially if a large quantity of it was given for bounty hunters and the devs, everybody will rush into selling their coin if it wasn't listed on any other exchange, coins that were already listed on other exchanges tend to increase in price when added to Binance, but fresh coins can do the opposite, so this isn't a 100% accurate strategy and I suggest you test it first before going all in.