It’s been about two weeks now since I initially shared with you a tool that I had made in order to quickly buy into a new coin listing to take advantage of the initial surge in the price.
I’ve spent the past two weeks, debugging, fixing and optimising this code to get it to a level where it actually works. It’s been a challenge to test since I have to wait for a new coin order and then check if it broke or not, but I think I finally got there.
Before I go explaining how the tool works, let me explain why I think that this particular strategy has some potential:
As some of you may have noticed, many coins seem to go through to what I would like to call a “lightning-pump” during their first few seconds of being listed on an exchange.
Have a look at ICP (you may put your pitchfork down, this chart is the perfect example):
[chart for ICP](https://preview.redd.it/renmiomwk3k71.png?width=2650&format=png&auto=webp&s=74818add410e844f684bb0b0f0c43475de26a2f1)
In under a minute, the price of ICP shot up over 10 times, before slowly dipping into the void. Manually trading this 10x would be impossible, due to the speed required to catch this pump.
So I started building a bot that would detect new coin listings in about 20 seconds of them being listed on Binance.
It soon became quite clear that 20 seconds is way too slow to take advantage of the pump so I had to make it quicker.
The second improvement enabled the trading algorithm to find a new coin and place a buy order in about 5 seconds. This was better but not great.
Finally, I decided to remove all the breaks and just call the Binance API like crazy. Full steam ahead.
The bot is now able to detect a new coin listing in 0.3 seconds and place an order. There haven’t been any new coins listed after I made this improvement so I will let it run and share my results once I have them.
I’ve also fixed any bugs that were caught by some of you that decided to test this out so thanks for that!
For anyone interested in trying it out, I’ve included a test mode that will simulate placing orders so there’s no risk involved.
**Here’s a step by step guide on how to build it as well as an in-depth anatomy of the code:**
**For the GitHub source code please go here:**
If you have any ideas on how to improve the stability or the speed of the code, please feel free to submit a PR.
**For those of you who asked for a YouTube video before – here you go!** [**https://youtu.be/mIa9eQDhubs**](https://youtu.be/mIa9eQDhubs)
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