Sometimes simplicity rules and this is when the order-bot comes into play.
The order-bot is designed to be filled with pre-orders in a sequence and to wait it out until the prices are reached.
In short, you can program this bot to first buy for X and then sell for Y and then buy again for Z and so on.
These orders are not on the exchange orderbook. Only when the conditions are met in the orderbot is an order sent to the exchange.
You can also set up many orders that are only triggered on the condition that another order has been triggered.
This allows you to have more complex order types than are offered on the exchanges.
How it Works
Order bots work by utilizing logical expressions in terms of the price at a given time. Order Bots are also time based, so you can enable a certain pre-order, or condition, to only process order for a certain time period. The logical expression of a pre-order is expressed as:
If the price of X cryptocurrency is [less/greater] than Y Price, then [Buy/Sell].
In addition to this, a user can also set a pre-order as a dependency, such that if that specific pre-order has been executed, the new pre-order will be evaluated.
Example of an order bot:
Pre-order #1: If the price of Bitcoin is less than $450 USD, then Buy 1 BTC.
Pre-order #2: If the price of Bitcoin is greater than $510 USD, then Sell 1 BTC.
Pre-order #3: If Pre-order #1 occured AND the price of Bitcoin is less than $400, then Buy 2 BTC.
Pre-order #4: If Pre-order #3 occurred AND the price of Bitcoin is greater than $480, then Sell 2 BTC.