Repeated Limit Selling at a Discount to the Best Bid Across Exchanges
Summary
This utility describes a way to liquidate available coin balances across several configured exchanges while optionally retaining a specified amount. For each exchange, it first attempts to cancel open orders, reads the account balance, and repeatedly submits sell orders priced below the best bid by a configurable slide amount. After each wait interval, it cancels remaining orders, refreshes the balance, and repeats until the amount above the reserve is below a small threshold. It then logs the average sale price based on the balance change.
The document provides parameters for retry timing, price offset, and retained coin quantity, but no backtest or execution results. This is an operational liquidation routine, not a signal-generating strategy. Its behavior depends on exchange APIs, order fills, available liquidity, and the selected price offset; repeated cancellations and submissions can affect execution quality and fees. The routine does not describe protections for partial failures, changing balances from other activity, or market impact, so those considerations matter when adapting it.
Key ideas
- The routine cancels existing orders before attempting to sell balances on each configured exchange.
- It prices each sell order below the current best bid by a configurable offset.
- After a retry interval, it cancels remaining orders and checks the balance again.
- A reserve setting lets the operator retain a chosen coin quantity.
- Execution quality depends on fills, liquidity, exchange behavior, and repeated order handling.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.