Bitcoin Forum

Hello :)

I started trading on YoBit few weeks ago but I felt quite overwhelmed in front of the complexity of the task.

Luckily, I heard that some chrome store's extensions exist for helping you to trade more efficiently. Thus I installed "Yobit Trading Helper" but for some reason it didn't work on my computer (browser issue? or a problem with the plug in that gonna be fixed?)

Anyway, a coworker told me about two other which are "YoBit Trading Bot" and "YoBit Caduceus Trading Tool" that seem to work fine, even if I could probably earn more if I was an expert... So to begin I installed one of them (Caduceus) to try it out (I'll start this evening). I might try the other one next, and compare their efficiency.

I would like to know if you had any feedback about these plug in? They seems pretty easy to use but my coworker says it take few days before becoming fully efficient (it's the learning stage) but then it earn about $30 a day.

Thanks for the answers,

Zepiti.

If you are looking to earn money trading, I wouldn't recommend using bots. They can actually end up losing you a lot of money, as they operate by following certain algorithms and can't make logical decisions in the face of abnormal situations. You could end up losing out on opportunities or even bagholding coins. I would recommend that you pick some coins that you think will be great long term, and then just hold until you reach the profit you are looking for. If you want to day trade, so be it, but make those decisions yourself and don't trust a simple computer program.

Thanks for your answer !

Yeah, it seems like trading yourself remains the best options, but I must say I don't know which currency invest in. And I guess one cannot really say "this one WILL be worth later" with certitude. If it was that easy anyone could earn money.

I agree that bots might be risky, but i've been told there usually are "safety settings" that enable the bot to invest more than you want. I guess it's up to the user to increase the liberty of the bot when he verified its efficiency...

Is day trade usually reliable, for non-experts? I guess it's a bit like sports bet : you might win if you're lucky but you shouldn't expect live from that if you're working alone.

I'll ask my coworker to see if he has some advice on which currency invest.

Zepiti.

Unfortunately day-trading is not for non-experts. You might get lucky a few times but over time you will lose money. You'll need to learn currency pairs, some technical analysis, how to use limit/stop order effectively, etc. It's a lot more technical that people think; try opening up a demo account on coinmarketgame or any other trading simulator (there are many)--this can be a good way to get practice without risking actual money. Bots can be effective as tools in your overall strategy, but they shouldn't be used as the primary method. There is a plethora of info on the internet that you can go through, this article give you an overview of everything you should know before going into the day-trading field: https://www.investinblockchain.com/how-to-day-trade-cryptocurrency/

If you are a visual learner, check out some youtube channels like datadash, for example.

I will try these simulators, thanks !

I just checked how the "Caduceus Bot" works, it looks like it doesn't take control over your whole account, it make small trades depending on what it's allowed to do (I can still trade on my own meanwhile). I guess I'll then need to learn how to use it properly without it becoming my primary method for trading :)

And it seems it can be used for long-term trading : you can disable the option that allow it to trade every day. It will just analyse the tendencies and send you a feedback. Well, at least if I understood it well..

It's possible and many people running it everyday but recently yobit exchanges getting a bit tougher and they are providing bots from trading. But as we already know if you can make your bot undetectable or more natural then you are feel free to trade with the bot.

a beginner who has to ask someone else (his coworker) what to buy and what to do is not going to be able to make any money trading with or without a bot. by installing all these crappy extensions on your browser and downloading other stuff which call themselves "bot" you are only putting yourself in danger of losing money.

just start trading like a normal person without a "bot" and see where that takes you. if you could make money and by that time if you felt the need for some assistance and automation then look for a bot! but no sooner.

beware of using bots for trading because the bots will act according to their wishes due to an error or internal error. there are currently no bots that I believe to generate profit.

I traded with Yobit Bot. There are plenty of videos on Youtube how to use it. Everything works fine. The only thing that scares me is the Yobit exchange. Traded on it for about a year, to be honest a little disappointed from the exchange.

@masnessteat I don't really like the videos I found on YouTube tho :/
But I'm happy to hear you used bots for a long period of time without problem. Did you used this one aswell?

https://chrome.google.com/webstore/detail/yobit-caduceus-trading-bo/mpnnepeecjmgnnbnakiekpcagmhllhoh?hl=en (https://chrome.google.com/webstore/detail/yobit-caduceus-trading-bo/mpnnepeecjmgnnbnakiekpcagmhllhoh?hl=en)

Or some other I don't know? :)

Not all bots have a high performance depending on the system underlying the manufacturer as well

Just leaving another message here  to say that the bot is finally working very well   ;D

I'm still learning slowly, but I can manage to control it so it's good for me.
Maybe when I'm good enough at this I will trade alone, but at the moment I'm quite pleased with what I have earned

Beware on trading on Yobit anyway!
Read posts here on BTT about this stock
lots of people were scammed and support sucks

Yeah, it seems people have support issue, but I didn't had any so far :/
Don't know if I'm simply lucky or anything, but I'm not going to complain !

Basically, all complaints begin when they want to withdraw money from this exchange. I recommend not to store a lot of coins on this exchange, there are a lot of good exchanges.