Bitcoin Forum

Do We have a maintained list of trading bots in the forum?

It would be advantageous to see what the available trading bots are: what are the open-source solutions, what are the premium solutions, what extra features do premium solutions provide and so on.

We don't particularly need one, because there aren't very many prominent bots at all.

Gunbot (https://bitcointalk.org/index.php?topic=1715214.0) and C.A.T (https://bitcointalk.org/index.php?topic=507103.0) are the main ones and they're pretty similar.  Gunbot trades on Poloniex and with C.A.T you can choose.  In both cases you can adjust which coin pairs you're trading, the gaps between buying and selling, etc.

Thank you! I knew C.A.T. and it is worth checking out Gunbot.

What could the reason be why there are not so many prominent trading bots? They seem to make traders' lives easier.

Exchanges are opened one after another, but we have only two prominent trading bots around lol.

Bots seem to function best under conditions where identical commodities are priced differently across different platforms. Example under HFT if a bot sees microsoft stock priced at $68.94 on one exchange and $68.59 on another it can almost instantaneously buy the $68.59 on one exchange and sell @ $68.94 on another. In the stock market under HFT (high frequency trading) they have an entirely different high speed electronic trading pool (dark pool) set up to make it easier for this to happen.

BTC and altcoin trading aren't structured in a way that would allow that type of high speed HFT trading. There is no high speed method to trade/transfer btc or alts between different exchanges. The high percentage fee for exchange withdrawal also is the opposite of HFT and dark pools which have very low cross platform trading percentages by contrast.

Bots in crypto can be less profitable than a buy and hold strategy.

In btc's move from $1200 to $1600 a trading bot could easily have sold at the wrong time which could give someone less profit than had they simply held btc.

A lot of bot trading strategies depend on daily price fluctuations to generate profits. Looking at some altcoin price movements, there are days where prices won't fluctuate more than 1% to 3%. Using a bot to try to take advantage of those percentage-wise small price movements can be a bad strategy for many different reasons.

All of these reasons and more are probably why bots won't see heavy usage anytime soon.

Seconded because we don't really need it at all because these two bots are mainly being used in terms of trading.I cant pinpoint majorly on their differences and advantages because they are being created to perform such work on automation of trades,there might be some other features which isn't present on other one but doesn't really matter at all as long it can provide the things we do suppose to be done.

Speed could be an issue, I admit. However, cannot we think of any other use-case of a bot (other than HFT)? C.A.T. and Gun- bots are also widely used in spite of the mentioned speed issue. There must be other reasons. What do we really use our bots for?

Do not expect someone to list out all the trading bots, but why not you yourselves start a service discussion or trading discussion topic about all the trading bots which may be extended beyond crypto to cover Forex and bullion too.

You can have any classifications to list out the bots so that it would be easier for anyone to refer and chose their preferred bots. I do foresee your topic may become as famous as Overview of Bitcointalk Signature-Ad Campaigns and Shonera's topic on how to sign a message, yes it is highly possible. Go for it. Good luck !

One key point with bots is over saturation.

The more people running the same type of bot(with presumably the same trading algorithm) the more saturated the exchange becomes, the less potential profits can be made.

Bot makers might turn bigger profits selling bots, than they would using bots to trade on their own.

Its similar to the ASIC argument where people questioned why someone would sell an ASIC when they could use it to mine.

Trade bot is good, but you must carefull when you choose one or it will scam, safest way is manually trading also.. :o

As a newbie, I'm really curious what the daily ROI of a bot is? My guess is 2-3% profits/day. Is it bigger for forex bots? What would happen if someone used a 10% ROI bot?

This must be a right suggestion. I remember there was the service discussion topic which lists out all the summarized threads. But as far as I do remember I'm not finding any topic which is comparing trading bots. Moreover there are only 2 to 5 trading bots are available in the market for cryptocurrency trading. That may be the reason people are not interested for listing of all of them in one single thread.

I would guess the ROI for bots is lower than 1% per day.

Most high ROI claims for bot trading are from the bot buying and holding BTC or other crypto when the price is increasing 20% or more in a short time.

There are never hard percentage % numbers for ROI over time, due to ROI being limited by trading volume. If within a 24 hour period, 5 bitcoins on average are bought or sold on an exchange, that can represent an upper cap on potential ROI. Average price spread over time & other variables could further limit theoretical ROI.

Thank you for showing your interest in such a list, @raven7886 and @Monnt!

I have made the list HERE (https://bitcointalk.org/index.php?topic=1944274), but I will need a little help to add new bots and their details.

Also, I am thankful to everyone else who contributed to the discussion with their opinions.