Bitcoin Forum

I´ve been working on Forex robots since years, but only in Forex and binary options. Would you like to have a robot that works with cryptocurrencies?
Which are the advantages and disadvantages of robots that you have used?

There are bots that are managing your portfolio for specific exchanges that you want to trade, there are popular bots here in forum like gunbot, cat and leonardo.

This is a sample of disadvantage and advantage review for gunbot
https://www.thehedgecoingroup.com/single-post/2017/09/30/Gunbot-Review

itll be good if you can implement and develop a new trading bot just for cyrptocurrencies becauase most people thesedays are prefered to trade using crypto rather than stock/forex because its obvious that cryptocurrencies are much easier to understand and manage while much profitable at the same time but as the other guy said , there were now many bots invented out there that can be used when trading crypto and i think some people are still prefer to trade manually to ensure that they are doing it correctly because human brains are still accurate and more intelligent when compared to some a.i and robots

Actually i never use robot in cryptocurrency and also binary option trading.
I dont use robot since i dont believe with robot to manage my portofolio.
I know some good robot can make us profit but i dont why i dont believe it.
I think robot is just helper and need a expert trader too to manage the setting and strategy input in robot. Withouth good trader and robot will not work very well. Thats just opinion.

Already bots are used in trading crypto currencies.They have many advantages.Human error could be avoided like typing 0.01 instead of 0.1.They could place sell and buy orders at very high speed which is not possible by humans if done manually.But they still need a little human supervision.

Also,it has some disadvantages too.In case of internet connection loss,they would not be able to process the orders and human supervision is needed at such times.

Thanks for your answer, this information has been very useful!

Good to hear that some people is really interested on trading bots, I´m currently working on something that it´s going to be really interesting, but at that moment I´m improving the code to ensure it´s a good product!

So robot also need person as trader to manage the robot.
Robot will not working properly if the trader is newbie or beginner.

It is interesting to have arbitrage bot for some trading pairs especially when the market rising/falling really fast. Because it leads interesting possibilities like few days ago with some pairs. ;)

Generally i am very apprehensive when it comes to using bots for trading, even though I know some people who have written their on scripts and done very well from it. I do not like the idea of not being in control of my own funds  :'(

not bad but hard to play it, like Gunbot is very good if you are a professional

Trading robots are useful tool to help us trading easier

Trading robots are useful for traders in order to make trading easy, however before you use it, i sugget that you study trading first, you arr still the one that is going to make the decision, if you do not understand how trading is you might end up regretting having the tool, just make sure you have the knowledge first and do not rely on it, though it will really help you on trading.

They are very annoying and should be forbidden, best way to slow down a very good project because of stupids people too greedy and lazy

i never think about that stuff, i still believe that human brain is greater than robot, eventhough there are some advantages, it's automatically and absolutely i do agree with you that robot is only for lazy people. however the great a robot, there also any disadvantages, you dont know what can be happened in the next day whether there any error or something else, actually robots are only for busy people who have no time in their real life and they absolutely lazy people.

I don't know with forex but I am using free trial of that robot for the cryptocurrency. in my opinion, if we don't know how to use a robot then we cannot make any profit and its the same as we trade with blind info.

I know a few samples of the robot for example gunbot from gunthar, cats from sampey, quatloo, cryptotradingview, and else. and like I said before, we need to learn how to use the robot so we can get maximum profit.

the advantages of robots that I've used is I just set up the robot, make a number buy or sell that I want and then I let the robot run in the vps. I only check once or twice a day to see the robot is doing a good work.

the disadvantages are sometimes the robot missed the right time to buy and sell so I need to do by myself.

but now I think it is better to trade without using robot because I can analyze by myself and I can increase my skill in trading so I can try to get the profit and it feels satisfied for me.

Bot is good idea to start the tradimg but at least you know the basic of trading and how to operate the bot.
Recently, trader use bot for arbitrage trading strategy because much quicker to execute the order use different exchange.

Your welcome but still if you want to be successful in trading whether you'll use bot or not don't forget that trading manually exists. Each trader here started their career with trading through manual and this is what I prefer though there are some people who are also good with using bots but it's all of your choice.

It's annoying if you don't know how to use it properly, actually they are useful and very convenient once you used to it.

I`m agree you should be trading for long time, i have been trading since 10 years in forex creating my algorithms but now i find much more interesting cryptomarket.

Completely agree 1st create your strategy 2nd create the algorithm

I think is not a matter of laziness, to be trading perfect you need to be 24/7 checking the market and some people dont have this time or they want to use it in other projects.

Yes but maybe one good trader have been working on a boot for years, and he wants to sold it to few people

Anybody else with experience in trading robots for crypto?  ::) Thanks!

If you can program a bot which gives even low profit margins but doing it constantly that can give you some income and on top of it you can trade manually for further profits

Clearly trading bots are the Devil, and they are inexorable. I for one welcome our new overlords. May our vessels fuel their machinery.

True AI will probably see the pointlessness of it all and just pull the plug on us. Enjoy the new wave while you can still utilize comfortably on a subscription basis.

Think of all the free time you will have.

Honestly, I don't trust them and don't havr confidence in them. Somehow I beleive they can't be programed so successfuly to cover all aspects of trading and to react properly in every situation. Successful trader needs his own mind and experiences.
Robots could be maybe used for excercising or for some smaller investments more to play than to trade seriously.

agree, besides, why do we need a trading robot while in all trading sites have a set order function. We do not need to continue to see the condition of the price, simply determine the Stop Loss, or take profit point and finish. If the robot is to predict the rise and fall of prices, I will not use, because the calculations or predictions of robots are not very suitable for the world of trading especially cryptocurrency.

I think that oyu need to know how markets work before you can use them and make profit. It's not just "PRESS A BUTTON AND MAKE MONEY".
After the all, you are the one setting the parameters of the bot! Keep that in mind!

Hahaha! GREAT! Thank you for this.  ;D ;D ;D

It's was good if someone implement robot for trading, so time robot will be use full if can use to the right ways, and maybe the advantage people are reach will become more reach.

For me bitraptor made 198% with the entire account in nov-dec and since january it slowly lost approx 27% of the entire account so I am still at 117% up, not all bots are microtrading bots.

I try 1 bot before and its very good working when all markets growing but when all falling its no point to use bots because it will hurt you very strong and u will not use any bots again.

I think trading robot is very helpful for beginners who want to get profit from trading. but we as users still have to learn the robot trading flow because even if we use the robot trading sometimes we fail

Robot is good if it can make you consistent money and it is bad if it makes you to lose money. I have seeing some software during my forex trading and binary options trading that makes over a 100% profit in a month and I have see some that actually lose money. I have seeing my account been wiped out in just a day and of a truth I have never make money from forex using robots. Some said is good why other said is good but my experience about it is not a good one.

They are destroying the market, as they are making daytraders lose.
I don't know if this is good or bad, as people should hodl, but it takes some of the fun out!

Bots can be boring, but generate "safe" profits. All wallstreet etc. run like that don't they?