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Offline bytemaster

Delegates Please Publish Feeds More Often
« on: September 25, 2014, 07:54:46 PM »

When attempting to write a market maker the slow movement of the feed can be difficult.

I would recommend the following:

if  REAL_PRICE < MEDIAN and YOUR_PRICE > MEDIAN publish price
if  REAL_PRICE > MEDIAN  and  abs( YOUR_PRICE - REAL_PRICE ) / REAL_PRICE  > 0.005 publish price

The goal is to force the price down rapidly and allow it to creep up slowly.

By publishing prices more often it helps market makers maintain the peg and minimizes opportunity for shorts to sell USD below the peg that the market makers then have to absorb. 

If we can get updates flowing smoothly then we can gradually reduce the spread in the market maker bots. 

*note: all prices in USD per BTSX
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

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Re: Delegates Please Publish Feeds More Often
« Reply #1 on: September 25, 2014, 08:11:14 PM »
Wanted to pimp my script anyway .. gonna do what I can tomorrow evening and over the weekend .. thanks for giving a direction!
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Offline bytemaster

Re: Delegates Please Publish Feeds More Often
« Reply #2 on: September 25, 2014, 08:17:54 PM »
When attempting to write a market maker the slow movement of the feed can be difficult.

I would recommend the following:

if  REAL_PRICE < MEDIAN and YOUR_PRICE > MEDIAN publish price
if  you haven't published a price in the past 20 minutes
   if  REAL_PRICE > MEDIAN  and  YOUR_PRICE < MEDIAN and abs( YOUR_PRICE - REAL_PRICE ) / REAL_PRICE  > 0.005 publish price

The goal is to force the price down rapidly and allow it to creep up slowly.

By publishing prices more often it helps market makers maintain the peg and minimizes opportunity for shorts to sell USD below the peg that the market makers then have to absorb. 

If we can get updates flowing smoothly then we can gradually reduce the spread in the market maker bots. 

*note: all prices in USD per BTSX

When the price is rising don't publish more often than every 20 minutes...  I also reduced the publishing load if you are already above the median when the price is rising... republishing your price will not move the median so don't bother.

For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline amencon

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Re: Delegates Please Publish Feeds More Often
« Reply #3 on: September 25, 2014, 08:32:10 PM »
Sounds simple enough, thanks for the direction.

Offline liondani

Re: Delegates Please Publish Feeds More Often
« Reply #4 on: September 25, 2014, 08:55:34 PM »
The goal is to force the price down rapidly and allow it to creep up slowly.

If in future one bitAsset >Asset  (bitUSD>USD)
we would recommended to do the opposite, right?
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Offline bytemaster

Re: Delegates Please Publish Feeds More Often
« Reply #5 on: September 25, 2014, 09:32:20 PM »
The goal is to force the price down rapidly and allow it to creep up slowly.

If in future one bitAsset >Asset  (bitUSD>USD)
we would recommended to do the opposite, right?

When BitAsset >> real asset there will be no shorts so the feed will be meaningless.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bytemaster

Re: Delegates Please Publish Feeds More Often
« Reply #6 on: September 25, 2014, 09:40:08 PM »
Actually I think it may be beneficial to discount all feeds by 0.995 to give the market makers some breathing room and provide a buffer against down trends.   
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Riverhead

Re: Delegates Please Publish Feeds More Often
« Reply #7 on: September 26, 2014, 12:30:55 AM »
Is real price last fill on BitsharesX?

Offline alt

Re: Delegates Please Publish Feeds More Often
« Reply #8 on: September 26, 2014, 12:42:25 AM »
I have update the script with this rule, delegate should change the parameter "change_min" to 0.5

When attempting to write a market maker the slow movement of the feed can be difficult.

I would recommend the following:

if  REAL_PRICE < MEDIAN and YOUR_PRICE > MEDIAN publish price
if  you haven't published a price in the past 20 minutes
   if  REAL_PRICE > MEDIAN  and  YOUR_PRICE < MEDIAN and abs( YOUR_PRICE - REAL_PRICE ) / REAL_PRICE  > 0.005 publish price

The goal is to force the price down rapidly and allow it to creep up slowly.

By publishing prices more often it helps market makers maintain the peg and minimizes opportunity for shorts to sell USD below the peg that the market makers then have to absorb. 

If we can get updates flowing smoothly then we can gradually reduce the spread in the market maker bots. 

*note: all prices in USD per BTSX

When the price is rising don't publish more often than every 20 minutes...  I also reduced the publishing load if you are already above the median when the price is rising... republishing your price will not move the median so don't bother.
« Last Edit: September 26, 2014, 12:51:48 AM by alt »

Offline alt

Re: Delegates Please Publish Feeds More Often
« Reply #9 on: September 26, 2014, 12:48:21 AM »
Actually I think it may be beneficial to discount all feeds by 0.995 to give the market makers some breathing room and provide a buffer against down trends.
maybe  you should change this  rule at the wallet? discount the short wall price to 0.995*median price
because we'll disable feed price in the future right?

Ggozzo

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Re: Delegates Please Publish Feeds More Often
« Reply #10 on: September 26, 2014, 03:08:13 AM »
Where is the script, and is it easy to implement?

Offline alt

Re: Delegates Please Publish Feeds More Often
« Reply #11 on: September 26, 2014, 03:19:05 AM »

Offline xeroc

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Re: Delegates Please Publish Feeds More Often
« Reply #12 on: September 26, 2014, 07:07:11 AM »
If you don't mind ... can I borrow these lines from you ?! :-)
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Offline alt

Re: Delegates Please Publish Feeds More Often
« Reply #13 on: September 26, 2014, 07:18:21 AM »
never mind

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Offline emski

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Re: Delegates Please Publish Feeds More Often
« Reply #14 on: September 26, 2014, 07:18:55 AM »
If you don't mind ... can I borrow these lines from you ?! :-)

Or better publish appropriate license for that. GPL is fine.

 

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