FAQ

This is the FAQ for the Trading Bot. Here we have noted the most important questions for you and answered them in detail. The FAQ is constantly extended/updated.

Who uses the Trading Bot?

We are very discreet in our dealings with our customers. Everybody who does not wish to be mentioned, remains anonymous. You have our word on that. However, we may reveal a known user of the Trading Bot, this is none other than @aggroed himself. He's a card investor and frequents the market regularly.

Does the Trading Bot provide reliable revenue?

The success of the Trading Bot depends on how well you know the market and on the settings you will make. In general you can say: The better your pricing, the more successful your Trading Bot will be. We promise no guaranteed profit or anything like that. Of course, you might be lucky and catch cards significantly below their normal value. As an example, we have been able to buy a Gold Foil Frost Giant for 40 USD. But of course, there is no guarantee of that.

What is lucky loot?

A card you got through luck is what we call a lucky loot. Lucky loots are cards that are put on the market much too cheaply, for example. The Trading Bot catches these cards very quickly, normally much quicker than a human being can react. A good example of such a lucky loot was the Gold Foil Forst Giant, which we picked up for 40 USD and sold for 350 USD within the same night. There is also constantly small lucky loots, because users are constantly mistaken with prices. A leveled card for the price of a Level 1 card is also considered to be a lucky loot. You'll be surprised how many leveled cards you will catch. Self-evidently, there is no guarantee of that. We don't promise lucky loots or anything like that.

Why is the Trading Bot limited to 100 accounts?

Hereby we provide an exclusive and high-quality service that is not intended for the masses. The Trading Bot is only available to a selected group of customers. We also reserve the right to reject individual customers without giving a reason. In addition, we guarantee support and in order to keep it manageable such a a limitation is just necessary. For these reasons, the Trading Bot is not cheap either.

Does the Trading Bot buy/sell automatically?

Yes! The Trading Bot takes care of the complete buy/sell process of your Steem Monsters cards and runs around the clock. The Trading Bot will never get tired. The Trading Bot is better than any bulk buy/sell because it will do all the work for you.

How much does the Trading Bot cost?

From now on you can rent an exclusive access to the Trading Bot for only 50 SBD per year. In addition, an one-time setup fee of 49 SBD will be charged, because we set up your Trading Bot manually.

Does the Trading Bot needs a posting and an active key?

Yes. To place the cards in the market (sale), the posting key is required. To buy the cards in the market, the active key is required. We are very aware that this requires a lot of trust in us. We thus recommend using a specific trading account, from which you can send your Income and most valuable cards periodically to your main account.

In which currency does the Trading Bot trade?

The Trading Bot buys in SBD. We have decided this because SBD guarantees more stability than STEEM. So in order to work, you need liquid SBD in your account. The prices in the settings forms are to be indicated in USD, equivalent to the USD prices in the Steem Monsters market. We will soon offer the opportunity to also set your price limits in SBD and STEEM. Also important: You have no control over the currency when you are selling, as the buyer of a card can choose between SBD and STEEM. Ayour account will thus most likely accumulate STEEM over time, which needs to be converted into SBD in order to be used for buying cards.

Will it be possible to define STEEM and SBD price limits?

Yes, it will be possible to define STEEM and SBD. That is the wish that has been expressed most, and we are already working on a solution. Please be patient.

What are the fuctionaliy as well as the advantages and disadvantages of the underbidding function?

The underbidding function will place a card on the market just below the highest selling offer. You are thus always the cheapest seller, as long as the price is above your limit. If the lowest seller is offering a card below your price limit, the card will be offered at your price limit. This brings you the advantage that you can receive a better price than your limit while still being the lowest seller.The disadvantage is a little more subtle. If you are always the cheapest supplier, you always place your own cards at different prices and can quickly be outbid again. If you follow a clear strategy, you will not use this function because you want to define fixed prices. We (Tim and Oli) don't agree whether this feature is good or bad, but we want to offer it and know your opinion. The default in the settings is therefore: deactived.

Is @lightningdragon my competitor?

No! We will cale back the operations of the @lightningdragon account step by step with each new customer so that we don't get in your way. It is not in our interest that @lightningdragon destroys your business. It's all about dominating the market together. Then we will primarily buy and hodl summoner with the @lightningdragon, as @yabapmatt officially confirms that summoner can only summon monsters of the same element. We assume that the market hardly undervalued the summoners. We also have mini-monopolies at Feral Spirit and Minotaur Warrior. We will also expand these.

Are the other 99 customers my competitors?

Think of it as a weapon that each of the 100 customers gets their hands on. A powerful weapon. All others do not have this high-tech weapon.

What if a bug shows up?

That's no problem at all! Bugs keep reappearing. That's quite normal. We see most bugs independently and fix them immediately. If you see a bug we don't know yet, just let us know, we'll take care of it. The Trading Bot is constantly being developed further and we are happy about every hint.

What exactly is the Trading Bot suitable for?

The Trading Bot is suitable for all purchases and sales. Margin trading makes it possible to make a profit. Specializations are also easy to do with the Trading Bot. For example, with @lightningdragon we have focused on the Feral Spirits and the Minotaur Warrior. We buy these two cards automatically at a higher price and the whole automated. We have also placed another emphasis on summoners, as @yabapmatt officially confirms that summoner can only summon monsters of the same element. We assume that the market hardly undervalued the summoners and therefore with the Trading Bot we put a focus on buying exactly these cards.

How can I see what purchases/sales the Trading Bot has made?

You can use the wallet of the account on which your Trading Bot runs. Since this is impracticable, you can use PeakMonsters from @jarvie: monsters.steempeak.com/explorer. Here you can enter the name of the account under which your Trading Bot runs (in the search field below "User" in the right menu bar). There you can check all the transactions.

Can individual cards be defined as buy/sell exceptions?

We know that it is important to be able to define the prices for individual cards separately. For example, @mattclarke collects Flesh Golems, @shoemanchu collects Skeleton Assassin, @oliverschmid collects Feral Spirits and @rondras collects Minotaur Warrior. It is important to be able to set the prices for these cards separately and we are already working on it. This will be published shortly.

How does the Trading Bot handle leveled cards?

It often happens that users put leveled cards on sale as a Level 1 card. Of course, these cards are bought by the Trading Bot. Leveled cards are identified and not automatically placed on sale. Leveled cards are also considered to be lucky loot. You'll be surprised how many leveled cards you will catch.

What does the Underbidding function in the settings mean?

You can activate the automatic underbidding in the settings. The Trading Bot checks the currently lowest price for a card, for example $5, if our selling limit is $4, it sets the card to 4.99. The automatic underbidding is deactivated by default. To activate the automatic underbidding now, click on the grayed out button. If the button appears blue, the automatic underbidding is activated.

Steem Monsters changes the API, what now?

Don't panic! We have experienced this before and also survived. We are in good contact with @aggroed and @yabapmatt and immediately receive good tips on how to deal with this particular situation. In the worst case, the Trading Bot stops for a few hours/days as we adapt to the new API and then everything continues as usual.

What can I do, if the Trading Bot is slow?

The more cards there are in your Trading Bot account, the slower it gets, because it has more tasks to do. Don't put too many cards in the Trading Bot account. The Trading Bot must always go through and check all the cards you have one after the other. So don't set the inventory limit in the settings to high. Also the settings under "Max. lists" affect the speed. The smaller the number "Max. listed", the faster your bot will be. Sometimes it's just the Steem Blockchain (the nodes) and then it's out of our hands. Speed is and remains a permanent topic, where we will constantly improve. Speed is the key to success.

Are the sale prices automatically adjusted after changes?

Yes. After the sale price changes, the Trading Bot goes through every single card and checks if prices have been changed. The Trading Bot now starts to make all changes card by card. Depending on the number of cards in your Trading Bot account, this may take a while.

The Trading Bot does not buy existing listings, but new listings?

New listings are bought really fast. Cards that have already been listed in the market must be crawled retroactively over several blocks. This is all the slower the further back it goes. For this we use a second trading bot. This will soon be added as an option in the settings.