Market Making is an easy bot to use, but there are a couple of things that you have to keep in mind for it to trade successfully. Here is a checklist that will help you with the configuration and execute your first Market Making trades.
Subscription The first thing you have to check is whether you have a Hero Hopper subscription assigned to your Market Making Hopper template.
Enable Hopper On Dashboard The next thing you have to check is whether your Hopper is enabled, which you can find on your Dashboard.
API Keys The next thing to check is the API Keys. We have an extended Documentation page with Tutorials of all integrated exchanges. We highly recommend you follow these tutorials as the setup differs per exchange. For example, on Kraken you should create 2 API Keys and API Secrets, while on Bitpanda Pro you only need 1 API Secret. Other things that might prevent you from seeing your funds include auto-fill in your browser, password managers, or browser extensions.
If you don't see error messages regarding API Keys in your Hopper output, then your Hopper is connected to your exchange. If you do see error messages, an explanation tells you what you have done incorrectly.
Funds You will now see the funds of your selected trading in your Hopper's Dashboard. Make sure that you own both coins of your trading pair chosen, otherwise the Market Making bot won't start trading.
Base Config You must configure the “brain” of your Market Making bot, the Base Config. Don’t forgot the "Percentage higher ask" and "Percentage lower bid". When you haven't configured these, the Hopper won't know where to place your orders
Hopper Output Now, you’ve checked all the things needed to get your Hopper started! We now have one tool left to optimize your Hopper configuration: the Hopper Output. The Hopper Output can be found on your Dashboard and shows you everything that the Hopper does or doesn't do. Our focus now is on what the Hopper doesn't do.
The standard error for the Market Making bot is "Not enough funds". Since you can configure multiple order layers and have items in the backlog, it could be that you need funds for up to 5 buy or sell orders. If you have configured the bot to use 30% of your available funds per order, then you will quickly see this error. The same issue occurs when more of your buy orders get filled compared to your sell orders, and vice versa. Therefore, check your available funds now and then to ensure trading can continue.
Another standard error is "You have reached the maximum number of 500 backlog positions". Trading will continue, but no more positions will be added to your backlog. After reaching the 500 backlog positions, you will also see a message on your Dashboard telling you that there is something wrong with your Base Config. You could lower the number of backlog positions by disabling "Move to backlog" or select "Do nothing" at "Revert canceled orders".
Select a period in the Hopper Output where you would like to see more information about what happened. The maximum number of entries is 500, so select a shorter time frame if you couldn't find what you are looking for.
Do you need additional help with an error message? Please let us know by chatting with us or sending an email to email@example.com
Output Error Messages Unable to retrieve orderbook from exchange. Cancelling based on orderbook depth is not working. Solution: This is usually a temporary error, if you keep getting this message, please contact support.