Bitcoin Forum

Hi guys , I have questions about trading robots . Is it really profitable ? It is hard to set up ? Do you have some experience with gunbot or others ?
Did you earn something with these robots ? Thanks for all answers :)

On the crypto market, I don't think, at least not with the same return as auto bot trading in the equity market. But with the volumes that some corners are reaching, this is likely to grow rapidly in the coming years. When you know that 90% of the usual trading is automatic now...

Most whales and big traders use bots to do their work for them, and this says a lot i think. The hard part is finding a trustworthy algorithm that you can leave on and not worry about it, and then adjusting it to your needs as you see fit.

i am asking cuz i saw few videos on youtube where some youtubers propagate it as a good investment that can make around 5-10% profit a day ... on cryptomarket such as bittrex ...

Do you have some experience with these bots ?

Here are some reviews read it https://bitcointalk.org/index.php?topic=1715214.3160
It is really a bot, but might do great work, please read the above thread and decide whatever you want.

ok thanks a lot for link :)

For some it is, for some it isn't. When you think about it, Gunbot is really going to be following what kinda parameters you set for it, so you're the one that is giving the outlines for the way that you'd be trading.

If you're just trying to buy it in order to get  INSTANT PROFIT, then stop right there, there's no reason to do that and you're not going to make a dime. It's expensive, and is only worth it for traders who have a good amount of capital, and don't want to have to do this full time.

Very subjective thing, for some it is, for some it isnt.

I read a lot of posts about people complaining about this bot, it is very, very expensive at the moment. I still remember those times in when this bot was still at $300  - $350 the full licence, now it is at the same bitcoin price, only that btc went up and the full licence is at $650 - $ 750 if i am not wrong.
I have never tried, it is a good bot for me, but try to find those complains about those people who lost a lot of money using it. There is a lot of diversity about this one, because there is a fifty-fifty of posibilities to earn money, or just to lose a lot of money because you did not configurate it well.
Make your own conclusions about it.

I don't have any experience with trading bots, nor i ever felt the need of using one. I can do my trades anytime i want without involving any third party. I believe our trades should be private i all means. I don't say that the bots are not trustworthy or they might steal your information or money, but i would still feel safer if i'm doing the work myself instead of a bot.

ok guys thanks for yours advice so i think these automatic trading is nothin for me cuz i don't have big capital and i didn't know it is so expensive i thought it cost around 15 usd for month :D For the first moment when someone say automatic trading bot so you say yourself "omg it will be a huge profit " but it depends on trader strategy not on robot so with my lucky it is not possible :D for example i sold my eth for 255 eur cuz i saw a lot of articles about that Parity Hacked and i was like omg it going to lose a value so i sold every eth i had and bought komodo cuz first dICO . I bought it around 0.000374 btc but after hour i looked at bittrex and kmd droped to 0.00034 cuz they Delayed and now it is around 0.00028 ...

i don't think bot can steal your money when you have 2FA enabled

I have never used it, but i was on a fund of bitcoin trading that was using that bot in order to make the profit, and then re-distribute all the earnings from that day between all the investors.
We made a lot of profit from there, this was on July, when almost all the altcoins were going up like crazy, i dont remember the real reason of this, but i remember the we made more than 3% on just a single day, it was a lot of profit for each one of us.
But then it suddenly stopped giving us good profits, and we lost -2% in a single day, maybe it was our fault.

Gunbot are not promising profits or anything outrageous, so fair play to them for having the software.

As for whether they're profitable, it depends who's using them.  You can't just set up the bot and expect it to make you endless money.  The bot works on minor fluctuations, so you have to choose an ideal currency and know when to stop it and trade manually.

You also have to consider exchange risks.  The risk of leaving your coins on Poloniex or Bittrex most likely outweighs any smaller profits that you might make.

I'm one of the people who actually does day trading but doesn't use bots or anything similar.
In fact, I think I've seen more complaints regarding these bots more than people praising them.

And taking into perspective their current price and how they really work, I can say that it's not worth it.
First of all their price is about $700 !! Unless you are a whale yourself and are willing to invest a couple hundred thousand dollars, you shouldn't be thinking about buying such a thing.


I think it's extremely difficult if not impossible to figure out such an algorithm. Yes the crypto altcoin market usually follows a pattern in price changes but that doesn't mean that it will ever reach the level that you don't need to worry about it. Things change. Some coins get dumped real hard due to news/rumors or whatever and these can't be predicted by codes.

You must've started thinking about it as an "easy insta profit" method. Believe me the word "no pain=no gain" is real. If you don't trade yourself and inspect the markets closely you won't get anywhere.

Is 3% per day a lot ? This simply means that you haven't been into the game since then.
Prices go up by 7-10% and down by the same range on a daily basis on different coins.

it sounds like wild West :D

People always misunderstand these bots. You don't just turn them on and leave them and they make money for you. You can lose money too. They there so when you put a sell or buy order you get a good price and don't end up buying for higher if the price drops and yours is still up high, the bot prevents this from happening. So while you sleep if a certain coin sells at a certain price you can tell the bot to sell, in that way you don't have to be awake and know you won't miss the trade. You can also tell the bot how long to hold on for and set tolerance levels for buying and selling. But it is not an automated money making machine if it was they will not sell it and keep it for themselves so you do have to have skills.

The bot itself does the work great. However, setting up the bot is strictly up to you. If you select a coin with lots of violent pumps and dumps, there is a big chance you ll lose your money. The best ones for trading are smaller alts which follow predictable price pattern. These days, with this BTC growth, trading is best to be avoided. Unless you short alts and margin lend!

Exactly i thought this cuz marketing for these robot is like "make profit 10% a day , every good trader use robot to generate profit , let robot generate profit for you ..." everywhere is just word "profit" ....i haven't know nothin about it .. but now i know that everything depend on trader and his strategy ...

Take a look on the Gunbot forum OP and read the experiences people have with the bot.
As stated above, it will boil down to the rules you supply to Gunbot.

I've tried a lot of bot for many altcoins before. but I could not provide proper efficiency at all. The reason is very simple. no fund manager trading robot cant  predict the future of the robot in full meaning. it can not feel it. These are very important details. no "bot" cant easily perform operations on this market. waiting for the market to come in handy at all is already in the worst case.

so i think bot are good for stocks , forex maybe bot in crypto world here is it like wild west where is something happening with no reason (for example when were in news articles about parity hack on eth everyone thought it is going to lose a value but eth gained value :D , good project loosing value and projects with no future gaining value (bitconnect) ) ....

My initial thoughts: https://bitcoin-investors.co.uk/2017/10/my-thoughts-on-gunbot/

Trading bots are not money making machines that you can just turn on, remember a tool is as good as the one that uses it, if you do not know anything about trading then you are going to lose your money because you are not going to configure the bot in the right way, so before thinking of using bots make sure to learn how to trade yourself and become a successful trader if you cannot do that then the bot is not going to help you.

I am also curious about gunbot, see the license price is very expensive and can be resold, I think will yield consistent profits, manual trading is more steady but exhausting ;D

thanks for link ... by the way nice blog

Thanks! I find it helps me to write it all down.

I'm thinking of writing a basic 'Crypto 101' course for noobs - it would have helped me when I started.

I've seen statements from users that it's not very useful. Those who sell can't even prove their huge earnings to see how profitable it is and it's also very expensive. If I  have that app that is really working then I would not sell it to earn more because the app itself is already giving me continuous wealth.

It's not that simple - it does need some monitoring and tweaking, so if you are short of time with other things going on in your life I can perfectly understand wanting to sell it. And don't forget, given the rise of BTC, they'll always get back more fiat than they paid for it.

Gunbot license price isn't very expensive as you said. I think it's still reasonable amount and almost all people can buy it (it's only cost you 0.1 btc).
Automatic/trading bot only will make your trading activity become easier than when you do it by manually.

0.1BTC is more than $1000 right now! i wouldn't call it very expensive but it is still pretty high.

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i have not used this bot but it seems like a good one from what i have read on their topic and from the explanations. but the important thing that people who look for a bot always forget is that a bot is not going to make you profit on its own. you do need to know how to make profit using it. you also need to be very familiar with the market and be able to decide which coin to choose and when to go in. and there are a lot of other things to consider if you want a consistent real profit not just a profit based on luck.

its useful mate, it will lessen your time inside exchange as bot already have programs to set your expectations, I don't have a personal experience
with gunbot but reading the features of this program you will get an idea how trading can be performed without spending too much time as mention
the bot will do the task for you.

Bot would really be a good tool for us since it do automate on our trades without the need on sitting out on your front of your pc just to make trades since those bots will really help us to done on what we are doing but the true thing is that those are just tools not totally the ones or things that do make money for us and knowing that we are the ones who do set out on settings on which bot would able to execute commands depending on the things you do set.