Bitcoin Forum

Now there is an opportunity to automate your trading!
Do you think this will be relevant for traders?

Some private trade bots can still make profits. Beside of trade bots, there are price alert bot for traders, they are very helpful to help traders who can't sit in front of the monitor 24/7. 

I don't think anything is automatic here, users control every thing without his command can be happen but maybe this process can be helpful those who does have much time and on the other hand it is risk as well.

Surely it will be. Traders always want to make a plan that will run in automation. And it will fully support the system. Automation will make the trade more easier and time saving. So it will be highly accepted by the industry.

It has been declared that automation will be provided for trading on the cryptocurrency exchanges. Many private trade boats will be found beneficial.

I am not a supporter of automatic trading. Indeed, it can increase your profit, but with the same success, the bot can lose settings and make you bankrupt. In addition to this, trading bots are third-party software. Do you know its full functionality? Perhaps through this software hackers can get access to your money but you will know about it only when you lose a large amount of money.

i do not buy the ideas, Automated trading (or algo trading, mechanical trading, rule based training, bot trading or whatever you want to call it) can be very enticing and it may just make money for you. But, there is an upside and a downside to this type of trading. Don't assume that just because you automate a strategy that it will produce profits.  Developing a solid strategy takes a lot of time and effort

Remember, the result you get in trading is usually a direct result of the effort you put in. 

That's amazing to know. I hope people will stay relax and won't have do this monotonous job 24/7

Can you give the more explanation about that? The majority of us are knowing it as use the bots to do automate trading but it's too risky remember all of traders that have used automate trading have been getting hacked and all of their funds have stolen by the creator of 3rd automate software to do your automate trading. It will be irrelevant for traders.

I think it's helpful for the investor. For this reason investor can trade in a short time in a cheap way. I also think its influence to investor to invest more on this market. Because they don't need much time for doing this business.

But isn't this already available, the trading bots? Maybe this is something new coming. well, I'm sure that will be good for traders. Trading is a very hectic activity and so if something of such sort is around, then it can help maximize profits.

There are some trading bot created long time ago and Gunbot is the best trading bot that I know. I think you should take a look at this thread, it's a thread about all trading bot at the moment and each bot only can run on some exchanges but not all cryptocurrency exchanges. Luckily, I still remember about this thread :)

https://bitcointalk.org/index.php?topic=4315793.0

It is a great help like me, I am a day trader, but with many chores I have to do, I just limit my trading activities in a day and prevent making loss of investment. If I want to make a good profit, I have to sit in my pc 24/7 to have a good watch of a good raise of the coins, which is very tiring. But with the help of automating the trades in the exchange, it will surely be a great help. If that happens, I can even do my chores while making automated trades.

I have encountered some bots on several exchanges and its quiet annoying. I think bot is risky maybe they earn and maybe they will loss too.
Its better to trade on your own. If you don't have time to trade just don't trade.

It's an investment, you do not want it to be automated, so you will not be able to control your capital and not generate income for yourself.

It is important to keep track of the market constantly, if the investor delays in selling or buying of cryptocurrency he/she will miss out an opportunity of profit. Yet for most people it is not possible to constantly check the market, in these cases bots are used. Which inform the user of fluctuation in prices and relevant news which might be helpful.

These sort of initiatives are what the people and the cryptocurrency market needs. this will bring more discipline, law and order in the market. the world is becoming digital and furthermore this will digitize the market to the next level. let us hope that the market will be upgraded even more.

For traders - maybe yes. Traders are sort of people in crypto who understands what they are doing and why. They can make logic for bot and the only difference between trader and bot - bot can do things faster. So it is very usefull for traders

I really do not trust auto trade bots, maybe only very few worth to be trusted, github is full with free bots which will lead you to lose your money eventually either by bad trade or just stolen money . But even with those trusted bots isn't the big base of users they have the big chance that this bot turn into a pump dump tool even without the bot owner notice it ? And for me pump and dump is immoral practice .

This is an interesting post. There are some applications available in the internet through which you can automate your trading. Tradestation , Fidelity wealth lab etc are some examples of them.

I think that this will be very helpful for the investors of the market of cryptocurrency. Actually the world is in digital phase. Digitalization is everywhere. So such type of initiative to automate the market will be really helpful. This will make the market more disciplined and easy. This is a nice initiative.

I do not have confidence in someone else's software, it's a possible risk of losing money. In general, the idea of automatic trading is interesting, but I myself control the trading process.

In my opinion it's too risky to trust such an important process to an automated system!

If you are interested in a new exchange platform, check out below!

You can get a lot of benefits, when you participate in new altcoin whitelist programs!

If you sign up, you will be given a referral code, and you could earn a part of your recommendees’ transaction fees!

To learn more about Ruby Exchange, visit our official channels from below!
Official Website: https://ruby-x.io/intro

The market is so unpredictable that it is completely useless to automate. But what kind of monotonous actions I think it is worth to transfer to programs.

I have heard about something like that already. It is something like a bot, which would sell when you say it to and buy the limits that you have set in it. So probably it is useful, I didnt use it before yet.

I think this is relevant for traders because they can try this software to automate the trading. they can turn on the software, makes a setting for every pair they want, push the button and they can watch the software run properly. and if they think that the software can do with good, they can do another thing and they can make a profit with automate. but they don't know if something happens in the market, and they cannot fix the mistake because the software is run by their setting. so the disadvantages for the trader is they cannot make any profit if the market is changing and the price is down too deep.

Automating your trades? I won't do that thing. I don't want to trade with my laziness though there will be traders who'll defend that it's beneficial for them.

---

For me, I won't do it and it's not relevant to me since I've got enough time to manage to check out my trades.

I think a most part professional traders are using bots for day trading and cross-exchange trading . If you have a 20k+ usd  on a deposit and want to automate trading process , you can try to find a freelancer programmer , who will write a personal bot for you , that will meet all your requirements.

I don't really crypto trading in automation form, crypto is so volatile and because of the volatility, the automation might not be fit, unless the automation will include advance AI technology