Bitcoin Forum

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me :)). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

Well, in theory, that could definitely work. But of course, the actual challenge there is picking the right ones, which is probably a lot harder than you think.

Also, remember that when the cryptocurrency markets crashes, altcoins usually tend to crash in bigger percentages. So if you were to continue on with this strategy, probably start on with small amounts first just to test things out. Best of luck.

I want to try every possibility after I finishing the analysis and I think it could work for this moment and I don't think that is a bad idea to try. And if you said that the price will do the same again, then I will wait for the coin to gets the lower price so I can buy and wait for the coins to double the price. And if it's only happening in bitcoin, then I will gladly to buy bitcoin and waited for a while. To buy altcoin right now could be profitable too but still, it's too risky, we don't know how long the altcoin can reach the higher price. Besides that, it still profitable if we can make money from bitcoin than the altcoin at this moment.

I'd suggest you wait for 12 December or at least before SEC stance on ETF is clear enough. Anything that happens after that will greatly affect the market, even if you pick a very good coin there's still possible that you'd end up losing your money when Bakkt launch gets postponed or ETF got denied or being delayed again. After that, you can use your strategy. Hell, even if you pick shit coins it will still give you decent profits in a bull run.

Hmm that’s probably true, there are a few shifts in trading patterns every few years as bitcoins price goes up that knocked all of the altcoins down never to reach where they once were.

I think cash will take the highest fall this time, it’s serioisly overvaluedmat this point anyway.

I have a reserve of a 0.5 btc cold storage casascius coin if everything goes wrong with my strategy, I’ll probably only out 0.3 btc into it.

I don't see how anything other than an ETF approval will actually affect the market. Another delay or rejection is already calculated in the price because most people already know it won't be approved.

In other words, nothing will happen at all on that front. I had a look at the charts, and it seems that the first months of each year aren't the best months for Bitcoin, which means that an increase is even more unlikely.

In a previous reply in a different thread I was referring to tax sales being a factor to focus on with how we are dealing with more startups, hedge funds, VC's, and so forth. It means more selling pressure in and after January.

I rather remain on the side waiting for the market to signal bullishness before digging in. The risk v reward ratio when it comes to trading right now is very poor.

I'd honestly try both holding and also a bit of trading as well. I've never had great luck with bots, and that might just be due to my lack of experience with them, but it's always good to never put all your eggs into one basket. Most bots can be extensively configured, and it takes quite a bit of learning to configure your bot to trade at its best during a bull or bear market. Trading bots also require more maintenance than most people think.

Investing into a casino is a good low-risk investment that I've had very few problems with in the past, but make sure you're only investing as much as you can afford to lose in the end. There's no guarantee you'll get your money back if something happens to the casino you invested in, and the casino loses its funds.

In a market dominated by algorithmic trading activity I feel like an 80 year old still doing everything the old way. I am not a programmer, which means that I have to blindly trust someone would I ask that person to verify if a bot is clean or filled with bugs and backdoors. It's a risk I'm not willing to expose myself to, and yes, that may be paranoid, but I highly value my Bitcoins.

Wait for the next bull run to kick in. Altcoins always accelerate far past Bitcoin in terms of cold hard percentage gains. As soon as the market starts to bubble up, take an altcoin with enough liquidity (I prefer Ether) to ride the market up.

If you're referring to BCash, then you are spot on. I'm closely monitoring the situation and have a good time reading through their internal warfare. I'm kinda certain that I will short them just before the fork takes place. The only danger here is that Bitmain might pump BCash afterwards, all to attract more hashrate with an economical incentive.

I have tried both and came up with both same results. First of all botting is only viable if you have no idea how and why people trade certain things or you have no time to trade and a busy person who doesn't want to miss out on the trading profits.

Nevertheless, no matter what botting is still only possible when the market is going up, if the market is bear and you have money tied to some bot than you will be losing most of your capital rather quickly, which is exactly the same when manually trading, if the market is bear you won't be profiting manually neither. Considering all of this as negative, there are of course positives, if you are botting on a bull market you are gonna make a lot of money, money that you normally wouldn't if you weren't involved in crypto, however you can also make money manually trading on a bull market as well.

Invest on altcoin is my choice but same as said above choosing which one would always be the challenge.Talking about botting and manual trading neither which way there would be always the same outcome yet
they would always tied up on the market trend.

Sell on news which a common suggestion we do follow but the risk on missing out potential or possible profits is there.I've been eying this one too.

The strategies you just said is a common strategy and you really need to buy a good coins that can recover from the downward trend in other to make profit when there grow or bance back .  If you want to use bots for this it might keep buying those coins that are death or be abandoned by the developers and you will lose your investments at the end of the days. 
You should spend time practicing this strategies you have mentioned and then buy those coins by yourself instead of using bots.

My question is this, whether a good coin or not, can we say that the good coin can rise when bitcoin is still bearish?  And we know the answer is no. So bitcoin for now is the leading while every other coins will follow.

I will prefer to do manual trading than use bots because i know i am not really good when setting it. My friend said good bot with bad setting will only make us loss. That is why i still prefer on manual trade because i can feel how i am trade.

I don’t think it’s that clear cut.
A good coin can rise when bitcoin is in a bearish phase as people will get bored of the extended lack of optimism and try to diversify their assets into other coins and see if they can make a profit from it.
There’s probably at least 10 not so shit altcoins that can have their value changed in a pump-dump while bitcoin investors get bored of their hodling...

Using a bot under certain circumstances may be a good idea but you should not let it run alone for a tool long time. Then just trading on reversals, a form of trading implied by your strategy is not a good option. Why choosing double instead of 20% or 300%?

I also realize that algorithmic trading is obsolete, AI replaces algorithms. Sure, Ai itself is based on standardized functions in interpreting the data but it is totally different from traditional algos, because it allows you to train the machine and refine the code.

My point is that one needs to combine different methods for successful trading. You cannot expect a bot seeing certain things that you can. Same with AI, you cannot see some correlations, which a machine, fed with proper data, can analyze with better results.

I don't like using bot in any purposes specially to wait or get profit. You can do any activity to rise your higher skill in other platform, such as built blog/ web, fb ads and you tube channel. I agree with leave crypto for now and come back again next year. Don't push too hard just enjoy the journey.

Yes, picking the right coins to get double in price would be so hard. And mostly when we are in the wrong decisions, we already buy and hold a coin but the price didn't show the good trend, we could change our first plan. In trading, everything looks easier at plan but honestly, it will become complicated as we start to make some actions.

Botting is good when market is either bearish or bullish and if market fluctuates too frequently then botting will result in loss while by manual trading you have the due diligence.

I dont see that as a good idea, most of the people losing money because of the trading bot, and it need a complicated setting to increase the chance of making profit, its better to do manual trading, you can increase your knowledge and learn more about the market condition, for me its better to stock top coins rather than put a risk on alt coins

All the strategies you mentioned are pretty good means of double ones investment  I'm sure you can handle well the buying an altcoin when cheap and sell when high part because the right coins and time of entering the market are the mistakes which most investors/cryptonier usually made.
Concerning the not trading, have heard and research alot about it but don't know how to start one. Could pls tell me the step by step tips. Thanks.

Its just one advantage that the crypto market have made available to everyone that irrespective of the idea you have, there is always room for everyone to make something off the market whether in times of low turns of event or when things are really looking green in the ecosystem.

In my own case, I would go with the option of manual trading where I study a coin and invest in it hoping that the fortune of the coin would change for the positive from the point I got in. I have made some profits as a result of this and sometimes, you have to wait for a really long time to achieve your objective. Bots to me seems something that might sound too technical with the configuration and the follow up that needs to be done regularly in other to avoid making some real losses along the line.

Last time I prefer the bot because I haven't enough time to trade manually and I start to do it rarely..
Every morning I check my tradesanta bot and how much did he trade..

I know a couple of people who use bots to trade and have recorded high levels of success. Of course it depends on how diverse the programming is. And how prepared the bot is for every possible situation.

It's a good idea. And you could support it by monitoring the trades and take necessary action where needed.

Since i am still newbie and developing a new learning curve about crypto trading i prefer to use manual trading and this will allow myself to train my psychlogical aspect when dealing about difficulties in trading activities. Emotion is your number one enemy when speaking about trading. Bot is just a tool to lighten up the trading activities but if you don't know how to deal with emotions botting is seems to be useless.

Be sure that it depends more from bankroll than from programming.Every bot and every strategy needs certain amount, without it bot will always hit in the wall and lose more than make profit, like every bot for some strategies you need to have very high bankroll, only like that bot can make a lot of profit.
Every strategy ask for some money, you always have min and max, but only with max you can have more success.

I honestly wouldn't risk any amount on shorting something that seems to be so easy and profitable to do. You know what they usually say in these cases: when things look too good to be true, they mostly are.

That's what I believe will happen. Don't forget that Bitmain holds +1 million BCH, which basically means that they have no other choice but to pump up the price. They have to protect the value of their massive holdings.

Another point is that protecting the value of their holdings also means that regulators won't use that against them to entirely reject their IPO plans. In other words, there is a lot to lose for Bitmain.

No doubt that having bigger bankroll will always have the advantage yet you can make use of bot setting or set-up at all range rather than on limited ones. Using up bot will still vary on users setting
because if you dont have any idea on what you are doing then you are just like throwing up your money gradually on the air. Manual or botting do have same results but they are just different on execution.

1. Bot trading is what you want to learn about or do you mean 2. “not trading” as in investments?

1. The two most recognised bots here I think are gun bot and cat bot. I havent looked into them recently. They do have fairly generic strategies however but that makes them quite profitable as long as nothing too adancecd happens (such as a pump-dump scheme).
2. You can invest money in places such as casinos, bitcoin mining farms and other bitcoin investments (some margin trading too - the p2p lending side of it). I’d never suggest margining to anyone as it’s how you can lose everything... Essentially you gain money from other people taking a risk in an investment scheme that involves bitcoin, unless it’s a ponzu scheme in which case, I’d also suggest strongly against that.

I think crypto trading is waiting for the price to go up 2 times it could happen, but seeing the current market volume might require a long time to get the price twice,

to be honest, I was also interested in playing the cryoto casino but I was still traumatized because I had lost an asset of $ 400 while playing a casino

Everything strategy for trading have advantages and disadvantages.  Your job as a trader is to use the most advantageous strategy at you disposal or combine different positive side of each strategy. Botting could be good or bad,  manual could be slow and steady!

Many people say that trading with bots will save more time and certainly be more profitable, because with bots you will avoid the biggest risk that is emotional feelings because bots don't have it, but the problem is how to make a bot for trading and how to implementation the strategi in the bot

Just use a bot like shrimpy.io. It's kinda like a bot, but also kinda like manual trading when you select assets to adjust your portfolio. It's the best of both worlds and removes the stress.

It depends on our time, there will be time for botting and if we want some chances to do manual and do it by ourselves it will be better to do so since we have control on everything we do.

Bot's main function is to profit by correcting some abnormalities in the patterns. It does not serve to make you very rich, after all, you are the one who will be responsible for tracing the strategies. It will help your actions, in the trade, by accurately reflect these previously thought you have.

In the Cryptomarket there are always opportunities in the BTC / Alt pair. It's a very big correlation. And in many cases, Trader exaggerates in a buy or sell order, this opens many opportunities. I think the most important thing is to choose the exchange that Bot will use. Binance seems to me the most used, so the opportunities may be smaller there than in other exchanges. But risking an exchange without volume and low reputation can be bad as well.

But Bot's biggest advantage is that he's cold and does whatever he's told to do. A manual trader can always have more confidence than he should and always try to earn a little more. And with that, end up losing everything.

I have never used this bot thing, but I came to know this doesn’t look good. It doesn’t help you much. The market is too shaky so every single time you must play something different.

Why would I even need a bot for that in the first place? That is some strategy you can easily just get to play out on your own. Buy altcoins when they are cheap, take advantage of their bull runs and utilize that to increase your holdings in bitcoin over time. I have been doing that now for a while and it has been very productive.

I am a long term trader as I basically do not have much time anyway for short or mid-term, and this is one strategy that so far, as long as you know what you are doing, you look at some historical support and the price action on them, and you are able to know when to stop any possible loss, it is actually always an easy way to get that done.

I meant more of a bot for when I can't be bothered to look at the short term.
Let's say btc to x is my first trade and that trade goes easy and as expected.
My second trade then is botted between x and y (both coins who tend to follow a similar patternin price but will have different peaks and troughs as one will happen much later than the other but it's not known which way round they'll be). X grows by say 10% (if configured well).

Meanwhile in comparison to bitcoin, x has gone to 2x it's original value so I effectly have a multiplier of 2.2 instead.

Casino in crypto you mean like the getting popular now in EOS platform? I would love to try bots trading as well to see the difference. I'll make a research about this more and share this to the community if I find anything interesting.

No, to invest in a cccasino is to invest in its bankroll. As the casino makes a profit, you too make a profit. As the casino makes a loss, so o you. It’s normally quite profitable over large periods of time and if you’re strategic with when you put the Monet in-take it out you can do quite well with it.

In fact, there are a bunch of bots that are quite useful, i have been using one for a while, but because ot this bear market, it is almost impossible to make a stable profit.

I have stopped using it, and i am going to start using it again as soon as the market recovers a little (there has been a depression for more than a few months already)

It;s not a very good botif it can’t be adapted to a bear market is it?
Is it a usd/btc style bot (i.e fiat to btc) or is it a btc/alts bot? I reckon you will probably have to spend some time finding a bot that works as well as yours does in a bull market, in a bear market and thus stabilise your returns more. Is it a bot that you have written or a bot that you have bought? If it’s one that has been bought, what is its name?

The truth of it all is that you cannot know the right coin. Even in the midst of the market recovery, some coins will do well, some will just move a little bit and some will not move at all, as I have been there and that is why you really just need to choose some few markets that you can spread the risk across, and know they are not more than you can handle at once, and then try to look for a good entry based on some signals and your strategy and then see how that would play out. One thing is that in most cases, you will still get to make profit on recovery but most importantly, just make sure you are not just trading some shit coins.

Sometimes bots have been programmed so amazingly that they can extract out some plan. However mostly, it has been observed they are still not giving out any positive vibe in case of bitcoin.

And that's more pretty accurate then.
Using a bot will just ruined your trading as cryptos are so volatile and can just make you to lose more. Why pay for a bot that eventually will give you headache? Just trust your skills and it will lead you to betterment.

Why don't you try to make it happen if you want to keep a bot running to increase the amount of money while you are waiting for an altcoin to go up then try it for you to know the result? There is nothing wrong on trying and wait for it if you will get profited with that strategy, we need to have to decide to our own now because as of now all predictions are just predictions and no one can tell us the right thing to do.

Yeah you learn less when you use bots since you let it work the market for you. You don't get to make observations that much which for me, is quite essential if you're aiming to be a more efficient trader. If you don't have that much time to focus on the market though, i think that's where bots can come handy.

In most cases, manual seems to just be the best way to handle trades. I am not saying using bots cannot be promising at times, but when it comes to bots, there is always a season for it and if you still do not try to keep some lookout into the market, to know when to get your bots activated or not, you might get yourself screwed.

Like you said, what is most important is to have a good strategy and then know how to execute them, and if you have a pretty good one, bots will always help you execute them well without emotions or discretion, but you still need not get too relaxed.

I think the manual trading is the best to make the desired profits when you are much skilled with the trading and actively involves or long term trader but bot maybe only suitable for short term traders.As I am not a regular trader so I invest on the altcoins to sell it when they go bump and will invest on other coins with the profits made from the last trade.But I don't think no one is going to double their coins with the current bull run.

If you want something done right, do it yourself
I do understand that you also need to spend some time to tell the bot how to trade, but manual work will always give a better result in anything that you want to do. Some guys here on the forum might say, that they have an access to the 100% working bot that doesn't need any customization, but I don't believe that this is true.

But to minimize loss you should learn how to trade, chart, Tech analysis, fundamental analysis and sentiment analysis for manual trading.
It will be great to learn how to trade manually and trade with free automated trading bot that can be set up in 10 minutes. But for newbies it can be problematic.. But I adore the Trade Santa bot interface because it's easy to use and I like their simple interface.

Another alt account is found in 3x2 so your thought is not impressive in any one so you should stay away in trading section is the right move. Nowadays peoples are expecting quick profit in any investment so manual trading is improve our skills and it will be more convenient for all the investors.

I haven't used bot tradings myself but i know some people who used , there are very different types of bots like trading ones or arbitrage bots , They were happy in bullish market but in bearish market they don't do well mostly because they cant get fundamental info as an input.

I  think bots are a bad idea. A bot is good if you know how it works and you can make changes to its work (correct) at any time. That is, bots are good for those traders who develop them.
Also, don't forget that a bot is just a program created to perform automatic functions. That is, in an unusual situation, this bot can make you bankrupt in a matter of hours.

The idea is quite welcomed but knowing those 100% altcoin that will survive the market crash will be harder. All this happens when we have lots of FUD running in the atmosphere and not letting investors in the market for it to move.

This sounds good when marker follows a particular and consistent pattern but unfortunately it doesn't, if you have monitored a particular coin doing a repetitive pattern, you may be luck it works out at the first time but eventually it will show you why it is crypto, personally I shy away from anything bot irrespective of how well developed

The main trouble is, because bots do not have the emotional baggage people have they also do not have that "gut feeling" we have as well. Now the difference between those two, when you are doing a botting during a bull market, without any emotion that would be amazing, with your gut feeling you may get scammed or something by someone or some ICO or whatever.

However on a bear market it is amazing that you can use your gut feeling, worst case scenario you will lose money in a bear market just like everyone else and just like bots do, however when you somehow find there is a possible reason for bitcoins to go down again and stop your trading and cash out before a storm comes or early moments of a storm, you will react much better then a bot. That is why I have always supported the idea that bots are for bull runs, manual for bear runs.