Finally did it: I made a crypto trading bot that automatically places orders on new listings before they get added on Binance

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So I’ve been working on this project for about 2 months now, and I’ve learned quite a bit about how new listings behave, and how important the Binance Annoucement page is.

My inital idea was to create a crypto trading bot in Python, that constantly checks if a new listing is added on Binance, essentially by checking the total number of coins at any given time. I tried out different variations on this, end even increased the speed to buy within 0.1 seconds on a new coin being listed.

After looking at the results, and talking to some of you on here, it turns out that the spike in the price upon listing the coin is actually the peak of the iceberg.

The real activity seems to happen once Binance Announces that they will list the coin, and not upon the listing itself.

Have a look at the chart for FIDA/USDT below, and the time Binance made the announcement:

FIDAUSDT

https://preview.redd.it/689yka0rynu71.png?width=677&format=png&auto=webp&s=f70c90a371a9bddecf298ba6ec42837f8570485a

Looks like people are fomoing hard into new coins on different exchanges in anticipation of a Binance pump, ironically creating the pump themselves.

So with that in mind, I built a crypto trading algorithm that listens to the Binance announcement page, and once there is an announcement for a new coin listing, the bot extracts the symbol of that coin and places a Buy order on Gate .io.

The tool will automatically place buy and sell orders and it has a trailing stop loss feature, meaning that it should sell at the optimum time, in theory.

I chose gate .io because according to what I’ve seen and what some of you have said, this exchange seem to list many of the coins that later make it on Binance or other bigger exchanges.

The tool is free to use for everyone, but I suggest running it in Test mode at first, as I still need to confirm that everything runs fine. Annoyingly, gate .io doesn’t have a testnet which means I had to test the buy/sell logic by placing real trades – not ideal.

But I’ve included a test mode for the tool itself, so it won’t actually call the gate .io API, it will just simulate the trades locally.

I’m currently waiting for new annoucements to test out the profitability and will report back. For anyone interested in the project or who may want to test this out themselves:

Here’s a video overview of the tool and why it evolved to this: https://youtu.be/SsSgD0v16Kg

A guide on how to install and run this on your machine: https://www.cryptomaton.org/2021/10/17/a-binance-and-gate-io-crypto-trading-bot-for-new-coin-announcements/

And of course, the source code on GitHub: https://github.com/CyberPunkMetalHead/gateio-crypto-trading-bot-binance-announcements-new-coins

PS: congrats on your gains to all hodlers today 🙂

submitted by /u/CyberPunkMetalHead
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