Spot Bitcoin Iceberg Selling with Timed Limit Orders

Summary

This beginner example describes selling a target amount of spot Bitcoin in smaller orders to reduce the market impact of a single large sale. The trader sets the total amount to sell, the size of each order, and how long each order remains open. The script checks the account balance, submits each sell order at the current best bid, waits for the configured interval, and then cancels any remainder before continuing. It estimates an average sale price when the requested amount has been sold.

The document presents the approach as a simple learning example and a way to initiate sales from a trading terminal. It provides no backtest, execution analysis, or evidence that the method reduces slippage in practice. The order size and waiting interval are fixed, and the example does not discuss market conditions, partial fills, fees, price limits, or recovery from API errors. Its average-price calculation also depends on account balance and holdings changing as expected, so live use would require careful validation.

Key ideas

• The strategy divides a target spot sale into smaller orders.
• Each order is submitted at the current best bid and left open for a configurable interval.
• After the interval, the script attempts to cancel the order remainder and repeats the process.
• The example estimates the average sale price from changes in account balance and holdings.
• The document provides no empirical evidence about execution quality or slippage reduction.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.