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Implementing the auto-buying bot from xkcd #576

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Re: Implementing the auto-buying bot from xkcd #576

#21

A neat bot would be one which automatically buys and then resells things with a markup. It would figure out the usual price an item goes for on a website like Ebay, and purchase it if the price is set far enough below.

I have always wanted to try something like this with stocks or commodities. Make a bot watch the market, and buy and sell. I even got far enough to imagine some sort of genetic filtering, aka give the master bot 10k, then it distributes it to 10 bots, all which are slightly different, they spend it, the master takes any profit above 1k and invests it in another bot that is a combination of the best 2. Etc. That way y…

Yeah, this is interesting, but there are some annoying realities:

1) If you make something like 3 intra-day trades (buy and sell on the same day) in some defined period (a week?) the SEC will classify you as a "pattern day trader". To be allowed to do that, you need an account with something like $25k USD min.

2) There are a few items that people often forget in simplified models that will completely eat any theoretical profits: brokerage fees, taxes, and currency-exchange effects (e.g. if you're a Canadian trading US stocks).

3) After all that, you're competing with the big guys who have a deep knowledge of how trading works, and fast access to more information than you do. It's an insider's game.

Re: Implementing the auto-buying bot from xkcd #576

#23
post #22
post #5

Earlier quoted context omitted.

Or just follow his twitter account ;)

blog > twitter

I'll do a weekly/fortnightly "look at this photo and details of all the random stuff I have" post, and do the day to day stuff automatically on twitter.

Should be the best of both worlds.

Re: Implementing the auto-buying bot from xkcd #576

#24
post #15
post #2

I am tempted to write a bot to submit $1 items that his bot is likely to buy.

How about a $1 bill priced at $2 w/free shipping? From every angle, it would be an interesting experiment. From the consumer's standpoint, it challenges the notion of free shipping . From a seller's standpoint, it challenges the notion of easy money (would you really want to stuff a thousand envelopes if the item sold well?). From the middleman's standpoint, it might help to identify bots (or possibly even money laun…

You just gave me an idea, but I don't have time to implement it so I'll give it away. Maybe if someone makes money with it, they could sell me my bill.

$1 bills priced at $2 w/free shipping.. the hook, the bills are listed by birthdates contained in the serial number. heh

Re: Implementing the auto-buying bot from xkcd #576

#26
post #25

Why just restrict the search to buy-now items? In my experience more of the esoteric stuff seems to go on straight auctions and buy-now is used mainly by commerical retailers.

Yes, I plan to support things other than buy-now. This was just the simplest way to get something running.

My plan is to have it wake up every hour, check if it's won something in the last 24h, and if not then do a search for items to bid on that are closing in the next hour.

Re: Implementing the auto-buying bot from xkcd #576

#28
post #17

Earlier quoted context omitted.

I have always wanted to try something like this with stocks or commodities. Make a bot watch the market, and buy and sell. I even got far enough to imagine some sort of genetic filtering, aka give the master bot 10k, then it distributes it to 10 bots, all which are slightly different, they spend it, the master takes any profit above 1k and invests it in another bot that is a combination of the best 2. Etc. That way y…

I'm sure all the fancy wall street trading companies have or are doing exactly that

And all the not-so-fancy ones. When books on automated trading appear in the "Personal Investment" section at Borders, which they do now, you know the prime time of the idea is probably in the past.

Re: Implementing the auto-buying bot from xkcd #576

#30
post #12

Heh, cool - I was going to submit this myself after it bought a few more items, but I guess I was beaten to it. Any questions, or suggestions for smarter ways to select items to buy, feel free :)

Should it go down again - there's a mirror at http://bieh.net.nyud.net/2010/11/08/xkcd-576/
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