*Nonstop Algo is in no way affiliated with Hummingbot.
There are 2 ways your bot earns profit from the Premium Strategy package.
Your bot earns rewards every minute through hummingbot platform rewards outlined here:
You earn rewards overtime through our bot’s custom settings
How are rewards calculated on Hummingbot miner? #
You can earn rewards every minute when you meet the following requirements:
- You have open limit orders on the participating trading pairs
- The spread of your orders are within the maximum spread
- Your read-only API keys from the exchange are connected in Hummingbot Miner
How are rewards calculated based on the crypto bot’s custom settings of the Premium Package? #
Whenever a Buy/Sell order is confirmed the next order the bot places is the opposite, and based on where your last order price filled the bot will set a new open order a certain percentage away in your favor, thus resulting in continuing profitable trading pattern.
The only thing to be observant is the bot places alternating orders based on:
- What type was the last order Buy/Sell? – The next order will be the opposite.
- What was the execution price? – The next order the bot places will utilize this price
*** Caution: There has been instances where an order will fill, and the price will continue dropping/rising significantly beyond were your last execution price occurred and can result in order(s) that take long periods of time to fulfill.
It is also unlikely but can occur where your miner rewards are now affected, if your open orders now are beyond the spread requirements.
This are very rare and infrequent instances, but worth noting.
So what happens if the above scenario is true? #
Like with all trading there is risk, and though this strategy and bot settings are implemented in the best way possible to avoid such from happening, it is good to have a back-up plan and understanding in place for such event. Your best options are as followed:
- Stop/Start (Restart) Bot – This will recalibrate the bot, cut losses and returning your bot within the required spread ranges for Hummingbot miner rewards to begin working again. This will also result in the your new “last execution price” to be set to the current mid price until another order fills.
- Be Patient – This scenario keeps your open order on the books so when it fills you earn positive. If your liquidity mining rewards have stopped, depending on your past reward rate for your coin-pair your currently trading, it ay be more cost effective to cut losses and return to earning rewards again thus eliminating any negative returns.
Like I said before every rare, and even more unlikely this will be an experience of yours in ways that significantly effect your returns.
To learn more about this strategy visit here:
After placing an order, learn how the custom settings for the Premium Bot work in detail here:
