Bitcoin Forum

I've seen a massive amount of people talk about the amount of money that their bots are able to make, I've looked into some of these bots (Gunbot, Profit Trailer) and when you see them, they have INSANE prices.  Something that I don't think I'd want to get into just cause I don't think it'd be able to SUSTAIN profit and to be able to PAY OFF ITSELF with such a high upfront costs.

Can anyone provide some feedback for these things?

No bot can ever bring you a good profit. Sooner or later they will begin to lose all your balance. And if you do not follow him, then you risk losing everything. It is better to trade with your head and have a stable income.

I agree with you using bot means you depend on the bot you use, your advantage is limited, your risk is high ,, better follow the suggestion @alicris  . I've been using unsatisfactory bot results and my capital runs out

sadly because these bots started their "refer someone and get paid" campaign there has been an increased activity of people advertising them with false information just to get others to sign up, purchase and they can make a profit!

trading bots are good but only if you know how to trade without them and know how to use them properly. you still have to make choices, like choosing a good market and choosing a good time to enter and exit. and also you need to understand the strategy that the bot is using. they are different from each other sometimes and they use different strategies to make trades.

in short I always advise beginners to stay away from bots until they have succeeded in making the price of the bot in less than a month.

TBH the gunbot's price of 0.1 BTC (around 1.39k USD for now) is not that high. You will get those money back if you are ready to invest some thousands in trading. The question is does it realy work / what is the % of the benefit / and the main question is how this bot will behave itself in a bear market. It is not that hard to get a small but stable profit on the bullish market.

There are a lot of small traders for them that 0.1 BTC is quite high and also no bots will bring you automatic profits but you need to have some knowledge of trading. If your a full-time trader then these bots may come handy to minimize your work but if you totally depend on these bots to make a money then I don't think it will work that way. In a bear market, nothing will work but if you have some extra money then that will be the right time to buy and hold.

I've bought a license to Haasbot a couple of years ago and I was pretty happy with it, their licenses aren't that expensive @ 0.035 BTC for a beginners one.
I think I'd made a total of 0.05 BTC profit in the end, but I felt that it would have been more useful for me if I had more technical knowledge of how the algo's worked.

Check it out for yourself here:
https://www.haasonline.com/pricing/

I have heard about the trading bots and I can see that there are lot of people availing it, well, why not right? You can really earn from it and it was a big advantage if you can have it, why advantage? although you are not always online there is a bot who is working for you so you cannot missed any opportunities.

Yeaaa it is not the bot developer fault to create a referral system to get some money.
It is just how greedy people to tell a newcomer to start trading use the bot as it will give them a guaranteed profit and faster ROI .
It is completely wrong of course , the bot there just to make your trading activity become more efficient & not wasting too much time , it is not a guaranteed profit tool.

Trading bot is not good and will not make our skill grow up. Even some people say still profitable, I don't want you sure about what they talk about, all is lie. One more thing, if the bot still profitable they will not sell it, trust me. People can win only from learn and practice not by bot. Leave the bot and start your own journey with your own skill. Good luck to you.

May i ask if you are still using the bot now? I'm thinking that if these bots are actually profitable the why isn't everyone using it yet? And if everyone started using bots like these wouldn't it mean that it would no longer be profitable because the trading pattern would already be so obvious to non bot users?

Personally i'm skeptical that a simple bot without any form of AI can earn 0.1 in BTC, especially with how volatile the market is. One bad trade and you could already lose a lot even without bots.

I am thinking to purchase too, but I cannot purchase since it really costly a lot, and I don't have yet enough fund for it, I hope that I can purchase it soon, so I can start and can change my life just like others. I have some friend here in our country who bought bot the time the price of bitcoin was still low and now they are benefiting a lot.

Dont forget you still need some money to trade with and you might loose it all under certain circumstances like bear market or maybe some wrong configurations from your side.

I tried to trade with a bot a long time ago, but the profit was too unstable. I think it's better to analyze and devote enough time for successful trading.

Bots would really still need to be set-upped according on the users knowledge which it would really entirely dependent on the configuration that you would made.This is why thinking off that using bots are profitable then i dont think so. I agree that some of them do have high prices for rich people then those amounts wont be nothing but for us casual traders which do have average money on pockets will surely hesitate.

No matter what set-up you do with it, it can never ever predict every rise and fall of anything. It is not a magically machine that can predict the future, it will still have its flaws and could probably lead to losses. First of, most bots will never sell unless you set a certain percentage loss on the coin it bought. However, problem is, if for example you set it to sell once it loss about 20%. This becomes a problem, since in crypto, a sudden 20% loss is normal, so it could potentially lose you money.

Hah.

That's not really possible unless you completely screwed up the config settings.

As long as you have enough for the bot to actually do something useful, they are well worth the price.  If you're planning on giving it $50 to work with, you're not going to get far.

Their price is not worth it, the market isn't so predictable and bot won't bring enough profit to pay back the purchase

usually profitability of a bot doesn't come from "prediction". it comes from "automation" instead.
the bot makes all the calculation and thinking and looking things up automatic so it only takes a couple of seconds depending on your internet speed of course. and that increases your efficiency and profitability as a result. you still have to understand what you are doing while trading.