Bitfinex Auto-Stop with 1:1 Scale-out (Node JS)

When entering a trade it is often desirable to be risk-free as soon as possible. One way to do this is to scale out 50% of your position when your profit matches your risk (including fees). This scale-out price is called your 1:1.

This Node JS script allows you to enter a position based on stop, market, limit, or stop-limit entry order, then automatically places a stop order AND a 'one-cancels-other' limit+stop order to protect your position from loss, scaling out 50% at 1:1.

The script also monitors the ticker prior to entry to ensure the reason for taking the trade is not invalidated (ie your stop price or fibonacci reference level is breached prior to entry).

Installation

Prerequisites: Node.js

1. Open a terminal/command prompt and run the command below.

Note: You may need to use sudo (for MacOS, *nix etc), or run your command shell as Administrator (for Windows) to do this. For example:

Configuration

1. Log in to Bitfinex and create a Bitfinex API key with 'Orders' and 'Margin Trading' Read and Write permissions.

2. Using Sublime Text or another text editor, create a text file named .env in your user home directory (where you will run the script from), and add your Bitfinex API key and secret in the following format. Replace BITFINEX_API_KEY with your API key and BITFINEX_API_SECRET with your API secret.

Usage

Open your Terminal/Console, paste bitfinex-auto-stop-121-scale-out, and hit the Return key to display instructions on how to use the script.

IMPORTANT: Your computer must be left running and connected to the internet for the stop to be placed by this script.

Updates

To ensure you're running the latest version of this script, run the following command in your Terminal/Console:

Note: You may need to use sudo (for MacOS, *nix etc), or run your command shell as Administrator (for Windows) to do this. For example:

More Crypto Tools by @cryptomius

Like this? Feel free to send me a tip! :-)

BTC: 1GdpCvpiK6e5N5u89Dq21jJcqfzJ48zAy2
ETH & ERC20: 0x13098ad7ac788e0bcd3ed38f04003c0df90ebbc9
ETC: 0xb0b4efe2ad6d0ddc0d8bd030525e32580e85f0cd
LTC: LdEu42hZUUSxxZboXGdes1snQfwrR7VWt3
DASH: XnU3c743iqpros4YQgfsn9Nxq6T9bguH8e
ZEC: t1gLKiEZP9RyKtHthvYi2Vo97fvJXL7YcMd
BCH: 1H9dSN6nsoGDCG4GvPgCWRjP765kqJSXYN