Bitcoin Forum

I'm planning to trade crypto by using bot while I work. I'm curious if it could be done in a way that you profit with minimal intervention to the bot? For the mean time, I'm studying TA and other fundamentals regarding to trading.

Of course A lot of good traders are taking advantage of bots. Profiting using bots is not how most people think. Most people think good trading bots are just bots that you press start once, and it'll pretty much make you money as long as it's on. Well, that's not the case. Traders frequently update the sort of "pattern detection"(for a lack of a better work).

As for leaving trading bots running with minimal intervention, it probably can work. Again, it depends on how you set up your bot.

Start your algorithmic trading journey from open source bots like Zenbot, or Gekko. You'll see that bot is just a tool to automate your trading strategy. You outline the strategy, and then you start the bot. Imagine it as a machine that does anything you told them to. So, as mjglqw said, as long as your strategy is right, then you'll get profits.

I do make some profits with Zenbot previously, but I stopped using it as I'm not that suitable for trading with a bot.

Never used it before but I heard it works. I had a free one I was studying some months ago but forgot to complete. .
I heard the bots are not totally automated . you will have to intervene once in a while for things to work well.

Can you tell more about the bot will you use? Like what are the special features on it since there are a lot of trading bots nowadays, just be sure you configure well the bot you will use.
Bot trading is profitable? YES. Especially if you have huge trading funds, I know some people using it but some of them are also losing money some are winning, no 100% trades even you use trading bots.

The question is, are you ready to trade using bot? What are you're experience trading without it? I asked this because for me, if you are a newbie or at least doesn't have that enough knowledge on manual trading, then bot will be useless. Because there's a lot of parameters that you need to set up with those bots, and perhaps you are not very familiar with it. And that alone might be one reason that it will be hard to make profits using those trading bot. So it might not be suitable for everyone, just saying.

So if I'm in your shoes, just continue to study about TA first before you get your hands on this bot/app.

I would not advise, there are different bots, do not bring profit, and in minus trade, for the bot you need to pay a normal amount every month, the API can hack , a lot of risks are obtained, I would not trust a large amount to trade the program.

Of course you can, but don't image big gains, all the bot does is automating YOUR trading strategy. If this strategy sucks, your bot sucks, too ;)

I had a Gekko bot running during the first bull run in 2017. I tried a lot of different strategies for about 6 month. The outcome was about 0.005 BTC win by 0.1 BTC waggered. Not that big, would have I hodled the coins the profit would have been way higher. I am also not sure if any of my strategies would have worked in a bear market.

Everything is possible inside this crypto market, bot can be an edge if you do have basic ideas on how things works around this industry, you can set your bot in a proper position if you have that basic knowledge on how the trend will bring you good position.

Try to workout more with all the ideas that you need, in order to maximize everything you have to study deeper.

I don't think Bot can help us make a lot of profit. because it is only a Bot and it is pre-programmed, and our crypto market always changes with the date. Every day, the market changes in a different way. therefore, we cannot rely on Bot and make money from it.
We have to change our strategy every day. therefore, I do not appreciate the transaction with Bot.

Ive never work with an trading bot,I know some friends of mine are actually using this kind of bot to gain profit most of them says it works but few said no,Ive read that trading bot doest not work on its own when run.Somehow it still needs a human to set/tweak the bot for it to work.But if you think bots makes lot tons of money youre wrong,yeah they do profit but not as big as an expert in trading makes in a day/week/months

Never tried it but base on the people around it seem's to be good and profitable,
Because it wouldn't run long or the bot's wouldn't be famous if they would just make you lose some money ,
But for me it is better to rely on your own skill rather than depending too much on the bots.

I had try one of the bot that I found, the setting is the key to make profit but its not that simple to set and unfortunately I am losing money, some people claim that they are making money, but through serial of testing, my advice is better to used your own skill, if bot is easy and profitable, nobody will trade by themselves anymore

You can, it just depends on the bot itself and how you use it. There are plenty of trading bots where it works great when the price is going up but works horribly when price goes down. The idea of a trading bot is buying and selling, stopping is never in any of the bots, since markets are sometimes in bear run that means it will still continue to buy coins because it can't stop but during the bear market that will lose you money.

Of course you can get a bot and hit big on bull run, for example get a bot in the past 2 months do a USDT-BTC pair and you would be making a killing however as soon as it starts to drop you are going to lose those profits. Now the new big deal is arbitrage bots because doesn't matter if it goes down or up the arbitrage is always there in any market.

yes I agree with you, you must hone the ability to trade manually first before deciding to trade using a bot, because trading using bots is not all automatic and can be abandoned.before all that can be done, of course he must arrange it in advance so that it can provide many benefits that can be obtained

Yes they can do but only if you know how to use them. They are not for beginners by any stretch of the imagination, but if you have the time and patience to learn you can earn far more money than just by trying to trade yourself.

You can earn profit through bot trading but not much and also you have to buy them so i think it is just a break even on some instances. This is not from my experience, it's from a close friend of mine.

Bots are great if you've devised a trading plan and you want something to automate that trading plan in order to make a profit, but otherwise they can be somewhat tricky to use initially despite many bots being advertised as simple to configurate. You should also obviously have at least some basic knowledge of trading before you purchase a bot license or anything like that. You'll need this to define how the bot will trade for you.

You definitely can make a profit from bot trading, but I would say it's not for everybody. I've always been more a fan of manually trading at my desk, so I do not trade with bots often, but they do work in some situations.

If you re just going to begin your crypto trading thn bot trading might not suitable for you.Myself never used bot because it will cost us and also less profits compared to trading by us so learn trading slowly and understand the market but bot trading is not much bad idea though.

We can make a profit from bot trading, but that is only if we know how to use the bot. I think if we read the manuals about how to running the bot, we can make a good setting for the bot so the bot will see a chance to buy and sell. But as the market is unpredicted, we need to be careful about setting the bot because we don't know how good the market will moves.

That's right, it depends on how you set up your bots so you still need to study, understand how the market works, research and read all related articles in order for you to be able to set-up you bot in your advantage and set it up as accurate as possible. On the other hand, I don't think it's a good idea to leave bots with minimal intervention considering that the market isn't stable you might as well lose instead of getting profits.

I don't think using bots to trade is worth it, they are being over hyped. The best thing is if you're interested in trading then you should take out your time and study every thing about it and become an expert in it. In this market, a lot of people lose and only just a few experts make money from trading, so if you can get to that level of being an expert then there is no need to making use of bots. Lots of reviews I have read about bots, I got to learn that they are not really worth it. Majority of the time what you get is loss. Just that those who makes use of it don't really come open about it. So to me it us not really worth making use of them. You can still try your luck,  that it doesn't work for others doesn't mean it wouldn't work for you. But I prefer to learn and do things myself.

BOTs are all fake

Using trading bot as a tool of trading is having an advantage when you are in trading. Even you are sleep or as what OP says even you are in work you can be assured that you have minimal lose by having a setting on your bot and automatic cut your losses during the dip market.
I personally recommend using this trading bot is a perfect and easiest way of trading, good to use is Gunbot trading bot.

Not an assurance thing for it to be working or not because Bots are just designed for the automation of trades not on making yourself profitable.
So,basically it would mean that it does only the work you have setting you had made.If it does work then your strategy is good but if not then dont blame the Bot for such loss. ;D

Regardless of whether you can discover a machine that produce quick returns, you may wish to ask yourself this: What might you rather have – a bot that can transform 5 BTC into 5.1 BTC consistently or the opportunity of having 5 BTC allowed to put resources into a straightforward day exchanging technique?

Bots can complete a great deal, yet the way things are, they can't factor in key examination, breaking news, insider learning and the heap different elements that make markets move.

I certainly never tried to trade using a bot, but I think it can work. The main thing to configure it correctly and then it will work as you need.

As far as I know trading bots just help to make your job easier. They don't choose which coin to buy, they just make the deals with coins you chose.

Be watched full on bots you get your self involved in many hackers around the crypto world now have many ways to get out you let funds or can eventually rekt you out of the market in no time.

I don't think we have a 99% of real bots that can get you a 50% profits in a week, if you don't know what to do with your funds try get some other coins in the market mark out your analysis on them buy and keep for future and make some big gains later on

can you please provide any trusted bot you know that is working. i have one already but i need another good bot for my kucoin exchange please.

i have been working with bots. i can say they are working perfectly for me but i need more strategy on how it works. i am yet to understand fully TAs. but i followed a crypto group with good TA of the market. the team has been wonderful so far.
plus another wonder site that provides me with up on good coins, when to buy and also recommendations.

all this time I only saw people showing off their screenshots. well, in my opinion it's quite profitable, it's just that it's not controlled, and can make us lose anytime if we don't pay attention to it. well, but this is useful for those who are busy with their work.

Obviously, Bot trading was useful in current environment, at the same time those are interested and active in the market they only make good profit. Because variation will happen at anytime we must listen carefully and continuous activation is important in bot trading. I think those busy better avoid the bot trading is a good decision.

if you are good at programmers, and you have a good strategy for every condition on the market. and implementing it in bots, you can just make a big profit from that bot, there are advantages where bots are far better than ordinary humans, because bots avoid emotional feelings, bots won't be able to panic selling because of fear. so I think the bot is worth trying

Bot trading is very difficult to use for newbies hopefully they don't understand the mechanics as a new crypto trader because it cause a highly risk for their funds.

Yes, but not every bot is already configured to match the current state of the market so there will be a lot of tweaking involved on your trading bot before starting to get something off of it. Leaving it on autopilot at all times is like wanting to lose your money in a short time, so make sure that you also check the market conditions and adjust what your bot will do accordingly. Trading bot isn't a miracle but rather an automated tool to complete things that human reflexes can't match.

Cryptocurrency trading is totally different from normal trading field but you can easily make the profit by your presence of mind and their actual profitable way will definitely different from normal people to make profits that's why they been interested in this field not more than others.