At present, apart from Bitcoin, Ethereum, Lightcoin and other currencies that everyone has heard of, on all the cryptocurrency exchanges hundreds of less popular coins are traded. And these low-tradable coins are particularly the ones, whose market history regularly features the situations of rapidly growing exchange rate against the basic currency Bitcoin, so-called pumps.
A typical pump of cryptocurrency NEOSCOIN on POLONIEX exchange
Pumps are occasional situations, artificially organized by heavy speculators, who aim at making profit at the expense of smaller trades, who entered the market (bought the pumped currency pair) at the pump closing stage – closer to the price top of a coin. A common or novice trader faces certain difficulties in making money from pumps, since normally the data on an exchange website enables to detect a pump only at its closing stage, closer to the top price. Then, one has to make a rapid purchase and sell the coin to a profit in time, before the price starts going down. It’s extremely difficult to perform these operations manually. However, possessing special software makes pump speculations less looking like dubious gamble. When using specialized trading terminal programs or signal bots, one immediately gets a substantial advantage over traders, who perform on an exchange barehanded. Thus, the loss of manually operating traders can easily become your profit due to their sluggishness.
Advantages of using Coin Pump Catcher program
- Concurrent detection of a starting pump at an early stage. Coin Pump Catcher monitors all the currency pairs against Bitcoin on Poloniex exchange and at suspicion on a starting pump sends both visual and sound signals, indicating the currency pair.
- Enables to execute a buying, selling or purchase and sale transaction with targeted profit rate with a single click of a button. The program’s operating mode guaranties that your orders will be executed immediately and in full. The program eliminates a possibility of gapping or partial execution of your order.
The program is not free. The payment is made in cryptocurrency Litecoin (LTC) at 0.03 LTC per calendar day of using the program. The minimum payment amount is 0.03 LTC, the maximum amount – 5.4 (LTC) for half-year usage.
The program operates via API Poloniex. First of all, in your Poloniex account, which you will connect to the program, you need to receive tokens API Key and Secret (in API keys tab) and tick the field Options API Trading. You don’t need to tick Enable Withdrawals, since the program doesn’t support depositing and withdrawing funds from the account.
After copying your API Key and Secret, insert them one by one to the corresponding fields in authorization window in Coin Pump Catcher program by clicking at “Authorization” tab in the upper left corner of the program window. Then, click “Enter” button.
To the right of “Authorization” tab, there is “Proxy” tab. Which means that the program can operate, using a proxy server. What is it for? The case is that the website Poloniex.com has been exposed to numerous hacker attacks. While protecting the site, admins blocked hundreds of IP addresses that were used for accessing the exchange. It was not a complete block, but a requirement to enter captcha to get access to the site. It’s extremely easy to find out, whether you need to use a proxy server or not. If when entering Poloniex.com from your browser, you are asked to prove that you are not robot or immediately solve ReCaptсha – then, there can be no doubts that you need to use a clean proxy with a clean IP address for working with Coin Pump Catcher. You can easily buy a proxy server on proxy-sale.com or any similar website.
You have connected to the terminal! The next step is payment.
The price of using the program during one calendar day amounts to 0.03 LTC (Litecoin). The time reference point is the moment of payment receipt. To precede payment from your Poloniex.com account that you connect to Coin Pump Catcher terminal, you should remit the desired amount of currency to Litecoin address Lh4icnkYFjzF3noyKXzCTLV3xsJtrb6nBp
For example, you should get the following result in your deposit/withdrawal history on Poloniex:
The picture above illustrates an example of remitting the payment of 0.006 LTC, assuming a two-day usage of the terminal (0.03 LTC per day). After the status of your transaction changes from orange “Pending” to green “Complete”, you can start using the program. Litecoin transactions are executed extremely fast in comparison to many other cryptocurrencies. It will take no longer than 10 minutes.
When restarting Coin Pump Catcher program, you won’t need to reenter API keys and proxy data – all this information will be saved at the first time you enter the terminal.
Working with Coin Pump Catcher terminal
To start working with the program you should click the “START” button. After you’ve clicked the “START” button, the program begins to monitor all the specified currency pairs against Bitcoin with a frequency of 10 seconds (is specified in the “time” field, the 1st interval).
The gist of monitoring is as follows: the program tracks a growth gradient of each of the currency pairs in percentage in five time intervals. The first interval is 10 seconds, the second is 60 seconds and so on. What is more, you can by yourself specify the growth percent within these intervals and the intervals themselves. The first time interval is the basic one, the further time intervals you can set at your own discretion, with their length being a multiple of the first interval. It is not recommended to indicate an amount less than 1 second as the first interval. The reason is that Poloniex website limits the hit rate. At the hit rate exceeding 6 requests per second, Poloniex can ban your IP address.
Once again, in brief. The 1st interval specifies the frequency of update of information about currencies exchange rates. In each of the five selected time intervals you can set a maximum currency growth rate at your own discretion. If the actual currency growth rate exceeds the specified one, the program will give a signal and indicate the rapidly growing currency pair.
At the moment the actual growth rate of any currency price exceeds the percent you’ve specified, you will hear an intermittent audible alarm and will see a green sign in the line to the left of the currency pair name, which indicates a rapid growth of this coin’s price.
Before immediately starting purchasing this coin, it’s recommended to access Poloniex site from a browser and check the real situation with this currency pair at the diagram. As well as to wait for three or four repeated signals from this currency pairs. When working with Coin Pump Catcher, you will definitely pay attention to the fact that the signals, sent by the program, come well ahead of the data at the upper right sidebar of Poloniex website. Quite often, an obvious price growth, displayed in Coin Pump Catcher, can be clearly indicated by studying a diagram of this currency pair, but one won’t be able to detect this growth from the upper top sidebar on Poloniex. This very fact gives you an advantage over other traders.
To disable monitoring of a currency pair you are not interested in just clear a tick box at the beginning of the line, indicating this currency pair. Such currencies as Bytecoin (BCN) and Dogecoin (DOGE) usually provide false signals due to large quotation spread; however, these currencies are known for their low volatility. It’s recommended to disable these two currency pair straight away or in the course of operation.
Buying and selling at the moment of pump
In the field “Bid in BTC” you should specify the bid amount for entering the market. An integral and a fractional part of the bid are separated by a comma. Your Bitcoin account on Poloniex should contain a sum not less than the stipulated in “Bid in BTC” field.
After receiving the program’s signal and assessing the situation with the selected currency pair on this pair’s diagram on Poloniex website, you’ve decided that it is expedient to enter the market of this currency pair. Then, you should click the panel, displaying the selected currency pair. The panel with the desired currency pair will be highlighted in red. Monitoring of all other currency pairs will stop.
- The program starts to monitor the selected currency pair with a frequency of 1 data update per 3 seconds.
- In the “Pair” field the monitored currency pair will be displayed.
- The field “Purchase price in Bitcoin” will display prices from the order book “SELL ORDERS” for the selected currency pair on Poloniex website. The price is formed on the basis of the sum of all the best (top) orders in reliance on your bid amount that you have specified in the field “Bid in BTC” in Coin Pump Catcher terminal. That means that the program is getting ready to buy out all the most beneficial orders from the order book “SELL ORDERS” to the sum of your bid (in case you play for the high stakes).
- The field “Buy coins” displays the amount of coins of the chosen currency that you will buy at the currency exchange rate to the extent of your Bitcoin bid.
When you click the “BUY” button, the system immediately purchases all the best orders from the order book “SELL ORDERS” for the selected currency pair on Poloniex website. The field “Buying order” will display the whole information about the executed order. The currency you’ve bought you will also be able to see at once in your Poloniex account. After successful execution of the buying order, the terminal stops monitoring sell orders and starts tracking buying orders for the selected currency pair (“BUYING orders” order book on Poloniex exchange for this currency pair).
- In the field “Selling price in Bitcoin” the actual price will be updated, at which you can immediately sell the amount of coins you’ve bought.
- The field “The current profit, %” will display the information about the profit percent of the bid that you can get if you sell the coins straight away. This percent is shown with Poloniex commission deducted.
After you have bought coins, you should monitor the “Current profit, %” field. It’s up to you, whether to wait for 100% profit or to confine yourself to a few percent. A pump progress in unpredictable – if you are too slow to sell, the pump can reverse downwards, which can result in your losses.
As soon as you are satisfied with the current percent – click the “SELL” button. The sale will be executed at once; a probability of the order hanging up in the order book is completely eliminated. The information from Poloniex website about successfully executed sell order will appear in the “Selling order” field. In the fields “Sold” and “At the rate”, correspondent numbers will be displayed. All done and dusted!
After every executed purchase and sale transaction, click the “COMPLETE OPERATION” button. It will clear all the fields in the right part of the form in the terminal window, and the program will immediately continue monitoring all other cryptocurrency pairs. You don’t need to click the “START” button once again.
Buying and selling the selected currency with a predetermined profit rate
Coin Pump Catcher terminal also supports the function of buying and selling with a pre-determined profit rate. To execute this operation, before pressing the “BUY” button, you should tick the field “Buy and open a selling order” and in the “Profit rate” field determine a profit percent at which you want to sell the currency you’ve bought.
After you click the “BYU” button with these settings, two orders will be opened simultaneously: the first buying order will be executed immediately and the second selling order with a predetermined profit rate is opened at once, but its execution takes some time. You should wait until the currency price will grow and your selling order will be bought out by other traders.
If you were hasty and determined a ginormous percent, you can any time cancel this selling order by clicking “Cancel order” and then click “SELL” at the current rate.
The program Coin Pump Catcher doesn’t monitor execution of the opened selling order with a predetermined profit rate (so-called pending order). This function will be implemented in further updates of the terminal. For that reason, you can control execution of the pending selling order only from your account on the website of Poloniex exchange.