How does the static ping pong bot work?

The static ping pong bot places limit orders.

This is the simplest bot in margin. Click on the strategy button (chess knight with +) to create a new bot. Initially it will default to an effective gain of 0.1% around the spread. Click and drag the buy and sell price lines to set the prices you want. The bot waits until its order is fully filled before switching actions and then places a limit order on the opposite side. In the example below, the bot has just placed a limit buy order and is waiting for the order to become active. If this order gets filled, a limit sell order for the same amount will be placed on the opposite side. Here, we’ve specified an effective gain of just over 40%.