Bitcoin Forum

In some exchanges, I see some unusual trading behavior which I think is a bot or automated trading, I want to ask is it profitable using bots in trading and if yes how great has it been for you, especially bitcoin?

its depending about your setting too, im not sure 100% with any bot trading, for me manual is better we can control our lost we can control our profit too

For this issue, I'm not sure because I have not used the automated trading bot on any trading platform. I have also seen some users and they also have results however not many. A friend I know on the internet has created an automated trading bot, but it does not really work, and even makes him loser. I think that we should use the hand, we can control the full amount of his to prevent the bot automatically do losing all our money. However, some knowledge I may not know, bots auto can also be useful and make profitable  :D

Bot trading is less profitable than manual trading, if you know what you are doing. If you are a noob then those algorithms will be infinitely better. At the end of the day there is no replacement for good old Human intuition and analysis in financial markets, at least for the time being. Soon we may see quantum bots that can predict wit great accuracy future prices, but that is still a long way off.

first it depends on the bot.
not all bots are the same and not all of them are doing the same thing. some have better features, some have better code, some are more flexible, ... depending these things they can be more or less profitable.

second it depends on you.
you need to know how to trade and how to make profit. a trading bot is not just a button you click to make profit automatically while you sit back and relax.

Bot trading is probably only useful for those who have a large sum of cryptocurrency - we see consistent sell walls where the amount being sold is consistent or where the buy orders and amount are consistent and repeating successively. I normally see "whales" doing this at incredible speeds to either hike up a a coins value or destroy it. For the average joe bot's probably wouldn't be as effective in my opinion. I trust myself more than I do a bot regardless.

I am sure if you have a good formula, then it would be easy to create a good Bot that would make you some money.  The problem is, no one has a great formula out there.  If they did, they could just apply that in large chunks and wouldn't have to worry about getting rich anymore.  I suppose they could make a bot that would sell/buy depending on the amount of money they gained which would do alright, but not the greatest.

It really depends on the market not the bot.
the bot just makes things easier and much faster. it can also make sure you don't miss an opportunity depending on the trading bot and how it works, but if the market is good and if you choose your timings wisely and you choose what you invest in wisely, then you can make a huge profit. and if you don't make those choices properly you may even lose money.

I have never tried on bitcoin trading, but in forex trading I often use automated methods.

so I guess just more practical in using for trading.

i see some people selling bot trade with price arround 0.1-0.2, for me i can use that amount to capital in trading, buy some altcoin then forget it, check the market after 1year listing  :D
i trade in middle 2015 when xvg price only few sathosi and now im very excited the rate arround 150sat. maybe if i have time machine i will holding my altcoin  and forget about mining

The bots don't have the magic formula to always earn money but there were a few cases when the opposite happened.
I remember after the gox fiasco there were a lot of traders that were betting in certain moments because they predicted how the bots will react earning quite some healthy sums on this.

But then the trades were so predictable you could spot a bot buying and selling from a mile away.

The thing I wonder about is :
What would happen if all the traders would use the same bot....???

It depends on your entry price. (yes you had read it correctly, it depends on your entry price) - There is nothing special with Gunbots aside from it trades 24/7 with an algorithm of buying at low and selling at high. What happened to my bot was it hasn't traded that much since July until today because at the very moment I triggered it on, it started buying promptly and then waited for the price to go up before it sell. Unfortunately, altcoins are all down that's why my bot hasn't sold a lot of coins. Two weeks ago, I manually sold some old bagged altcoins and triggered a USDT/BTC algorithm. So far its giving me small profits already. That sounds better than static. If you want to trade using bots, you must turn it on during dips.

One of the very first automated bitcoin trading bots to ever be created goes by the name of BTC Robot. While it seems to do the job and is quite easy to set up, user’s mileage may heavily vary when using this tool. Some people seem to be making modest profits, whereas others seem to struggle to get it to work properly. There is a 60-day refund policy, which makes it a no-brainer to try out regardless.

The Gekko trading bot is an open source software solution hat can be found on the GitHub platform. It was last updated a month ago, which seems to indicate it is still being actively developed. Using this automated trading bot seems rather straightforward, as it even comes with some basic strategies. It is not a high-frequency trading bot by any means, nor will it exploit arbitrage opportunities. With a good list of supported exchanges, Gekko could be worth checking out. You should check this out, maybe it's fit with you.

I also agree with you that the trading manual is the best way to trade. because with manual trading we can determine how the action we will do. while with bots we have no power over our actions. so for me to become a professional trader then we have to do manual trading. we can learn and gain trading skills from it.

Those who uses the bot which works well are those traders who already got some deep knowledge with trading, I'm sure before they try using the not they already study how the market goes and they will uses the advantage of that particular knowledge to set up the not for their favor.

it can potentially be very profitable but at the same time it can potentially be very devastating. it will all come down to the bot and the choices you make with the bot and how the bot executes them.
for example when it comes to "automated trading" i always see these bots use Ping Pong or something like that. and in that strategy you can earn some good profit if you choose the market correctly and your timing is perfect. but if you make mistakes you will lose money and there is no way of recovering it.

Bot is a program and programmed by the programer to run the source.
you're asking how profitable it will be ? well,you asked a wrong question mate.
it should not be 'how profitable it will be' but instead,how much it will be.
because nobody can guarantee that you will get 'profit' from using their bots,and most people get rekt by it.
Bot is a good program if a thousand people supporting it and using the program.
which mean they can push the price together and make an exit together.
but not many people using Bot to do it,in other word it's not really profitable if you compare it to manual.
Bot will run your orders statically unlike manual trade you can do it flexibly.

PS : i do not recommed use bot for your trade,most of it created to maximize the creator trade.
which mean it's not really profitable for you but instead for the creator.

It depends how much you will invest because if you just invest like $200 you will get back your capital within a year which is a long time so i prefer learning and trading by yourself because if you really know how to trade you can get your capital within a week.

It depends in your time in using or monitoring your bot but i merely suggest that its better to trade by yourself because you can adjust your trades or maximize the potential profit that you may earn. So if you are using a bot make sure you are busy thats why you use it of having no time to monitor and adjust you trades.

I dont trust bot enough, though mostly they are good but there are times they missed what is much needed, or they grab what is not really intended to. I prefee having my decision without blamong and regret.

It will be so long after you can actually get back your capital or maybe if the Bot you invested in is a scam you can't recover your money.

i have experience with the bot and for me, with the bot installed in vps, its really help us to automated our task in trading so we can do another activity. yes it is profitable but the most important that we should do is we need to make the right setting for our bot and make sure the bot is work like a charm.