Bitcoin Forum

Hi all,
does anyone has some tips how to do automated trading?

I like to use Tools like MetaTrader oder TradeStation to execute automated trading strategies and doing backtesting. I'm also open for other tools. In best case it should work with Kraken.com but other exchanges could be an option.

search the forum for trading bots.
i am not sure which one of them work with Kraken but i know about C.A.T, Qutaloo (i think both are for altcoins)

might want to visit Cryptrader.com

Hi

https://bitcointalk.org/index.php?topic=507103.0

It works on 11 exchanges, but not on OKCoin  ;)

Until now I still do not trust bot trading. Because I think that trading is part of the characteristic of human beings, all actions and also the decision of course comes from the person's mindset. With manual trading then we can make various decisions with ease. All control is with us.

There is absolutely nothing the matter with assigning the same rigid controls and even much more to a bot and it would simply replicate your manual trade. Problem only arise when you know next to nothing about what a bot does and how it goes about it. If you are knowledgeable enough, then a good bot could be a veritable personal assistant, that sits out monitoring the market 24/7 and only engaging the market when the conditions you spelt out are met.

CAT bot GUN bot to name a few.
but until and unless you know what you are doing dont do bot trading

To be honest, I dont really like automated trading.
It is probably because I have started my trading journey with forex and oil, not even any stock market (I was doing that later).

I have always seen thousands of the offers to get access to some kind of a programme that will make a trading decisions for me. All I have to do, is just give the funds for the bot and pay for the script.
Every single friend of mine that is a successful trader, does not use bots at all. They do not rely on them, because they know very clearly that only the human may constantly play on market while having profit on a long-term.

Automated bitcoin trading is just for newbies and to those lazy people who don't want to generate a lot of profit, yes a lot of profit from manual trading why? Because people like us or traders like us has a lot of potential to know the flaws of the market and how to deal with it unlike automated trading that is just for the current program, we are limitless in gaining new knowledge because if we do manual trading more often then it will lead us to become professional trader.

Gunbot and C.A.T. are the known bot for altcoin trading. However you can even use metatrader software with simplefx platform, they also have bitcoin-fiat pair for trading.

Personally i like gunbot but they only support poloniex right now, they will add few more exchanges soon.

That is like saying that mechanized farming is no better than subsistence agriculture. If you can come up with any profitable strategy, ten nothing stops you from putting same strategy in coded form and multiply you effort even a million fold as a bot is actually an assistant and becomes whatever you make it to be. Problem only starts if you engage just any bot out there to work and especially one you do not understand how or what they are coded to do.

Yes. It is missing a essential part of human psychology, Intuition - or what we call the sixth sense. A large portion of crypto trading success is gut feeling, which something you need to develop as a trader. This is what separates a good trader from a professional trader. You need to feel how the market is going and react and pull the trigger because you have sense something that the calculations of a robot do not. Those who have this gut feel are not likely to want to use trading robots in the first place. They are highly skilled professional traders who can earn good money in the market.

Each person has his own hobbies and his views on possible earnings, while his dignity, including intuition, everyone uses in his own way. If a person has Intuition and no ability to trade, his qualities will need to be used in another area of ​​activity.

you can trade with MT4 on those Forex-brokers which have Bitcoin-pairs: https://bitcointalk.org/index.php?topic=716530.0

I have personally tried MT4 with simplefx and it works smoothly. You can try them, don't have any experience with any of the other platform listed on link above.

the essence of learning is much better than doing automated which only help us to gain profits if we already have knowledge with
real trading placing the bot its entry and exit points will still basing to your knowledge its just lessen your stay inside the trading site and
allow you to do the trade even you are not physically inside the exchange.

There are a few out there which are free to use. Zenbot, Gekko, etc.. Also a few bots which are pay to use: CAT, Haas, Gimmer, Cryptotrader, etc.

Youll have to understand what theyre doing in order to prevent massive losses.
Know what youre doing manual and have a strategy that works for you then perhaps move on to automated trading. Dont expect too much from bots.

It's true. Ofcourse this automated trading bitcoins can be helpful to others and not to others. It depends on the daily activities of different people. But i guess it will be helpful for busy people who has no time to manage theire trading bitcoins or people who lack of knowledge about trading. But for me it's best if you'll be the one to manage your own trading bitcoins other that you'll be sure enough that it will earn, you'll be glad you're the one knowing where and when your bitcoins will earn.

I'm not sure how experienced you are with trading but if you are somewhat experienced you can try out the gunbot. It has gotten a lot of good feedback and I've heard that the customer service is excellent.

Well, you are free not to use trading Bot anyway, but I guess the characteristic of human being can be setup on that Bot,  that is what bot settings for.  It may not be as complicated as human behavior but at  least bot can deliver you what you wanted when you set it up while you are away either sleeping, relaxing, or working.

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I think CAT bot are having a discount at this moment, even some exhanges are offering it with a discount.  Maybe you should try to look at it.

Trading with bot is good, that it makes a minimum profit with consistency on successive trades. This cannot be guaranteed with the manual trading. This is possible when the price seems to fluctuate within certain price range and while exceeding too it makes profit but not the peak.

Although the profit is not the maximum, but you can also get a big one because the bot keep trading while you can't do it. And it's not like you can always get the highest possible profit when trading manually.
For the OP, you should try C.A.T bot as they support a lot of exchange.

There are mixed responses from traders about using bots for their crypto currency trading. I did see positive review on using CAT bot but now people are suggesting to go with GUNBOT. I'm not sure the current effectiveness of CAT bot like what happened to old bots and their results and why people always suggest new things.

One thing is sure people just want to try new products and keep on switching over to new bots whenever they will be arriving at market. But, personally I am always doing good with my manual trading.