Bitcoin Forum

Hi everyone,

This is my first post…I tried browsing the forum, but couldn’t find info I needed.

Has anyone tried using automated software for trading? I’ve came across to these platforms. They both say they need their tokens to run..honestly I haven’t heard of these tokens before. One of them supports backtesting, and the other one has forward testing as well. What is your experience with this type of trading, or can you recommend something else I should take a look at..

1.   https://kryll.io/ - Supports trading on Binance, Bittrex and Liquid
2.   https://www.dapowerplay.com/services/dpp-platform - Supports trading on Binance, Bittrex, Bitstamp, HitBTC and Tokens

Thanks!

I think that such trading software requires API keys,in order to run properly with the desired platforms.
I've never used autotrading bots,because I don't do short term day trading.If you want to perform day trading and "scalping", some bot that runs 24/7 is mandatory.Otherwise,you don't need such tool

Thank you davis196 for your reply.
Actually, the scalping is exactly why I’m browsing the automated trading. The BTC price change in 24h is around 1,4%, and in last 14 days almost 10%... so in this market conditions there is probably opportunity to make profit on market price changes. I know there are professional bots out there (unfortunately I do not possess programing knowledge), but now I see these drag’n drop platforms, so I was wondering has anyone tried using them…do they work?

Read these threads:

【BOT】 🌟 C.A.T. Cryptocurrency Automatic Trader 5.2 🌟 (https://bitcointalk.org/index.php?topic=507103.msg5590877#msg5590877)

 🔥🔥🔥🔥🔥[GUNBOT] Automatic Crypto Trading Bot - now with BITMEX🔥🔥🔥🔥🔥 (https://bitcointalk.org/index.php?topic=1715214.0;topicseen)

margin - Bitcoin Trading Bot: Binance, Coinbase Pro, Bittrex, HitBTC, Bitfinex.. (https://bitcointalk.org/index.php?topic=1467939.0)

I hope I was helpfull

It is much more better to take this suggestion Op rather than focusing into those links you have posted atleast these Bots are way more popular than to those you had mentioned.

What you mean about needing their own tokens to run?If they do ask out on purchasing up their tokens then its better to avoid i were you.

I don't use bots to trade it is much more better to do it on your own.
You shouldn't rely too much on bots learning is much more better.
Your knowledge and skill would always be better  because you would only rely on your own.

The link he posted is from projects that do not seem to me to be successful:


https://etherscan.io/token/0x01b3ec4aae1b8729529beb4965f27d008788b0eb

[ANN] [DPP] Digital Assets Power Play - Creating a Democratized Wall Street (https://bitcointalk.org/index.php?topic=2200089.0)



[ANN]🔥🔥 KRYLL.IO -Automated crypto trading strategies made simple 🔥🔥
 (https://bitcointalk.org/index.php?topic=2791849.0)

https://app.liquid.com/exchange/KRLBTC

There are lots created for trading our tokens but it would be a lot safer to personally do the trade than letting a bot do it.

Thank you Slow death and milewilda for suggestions, I’ll be sure to take a look. However, I like Kryll and Dapowerplay project as it seems to me much convenient to use, as I can create my own “strategies” and have better control (at least this is my understanding).
@Slow death - I can see that Kryll platform is live from last year and Dapowerplay has launched their service few weeks ago.
@milewilda – both platforms require KRL or DPP token to be deposited to the platform in order for strategies to work

@xvids & @Ranly123 - I also share your opinion. Somehow, it frightens me to put my money to bots, even if they’ve had positive performance until now. That is why I’m exploring options… I’ll probably give it a try and share my feedback.

automated trading should only be done when you have 100% control not give up your control to another "platform" that does it for you. which means in my opinion using the worst bot (that would be a desktop application you run on your computer) is so much better than using these websites not to mention safer.

There are many bots available for you to automate your trading and but it might not suitable for you to start with because it needs laptop skills to handle loss and profit if you didn't manage it well then you will close all all of your money in no time. One of the reputed trading bot is gunbot as far as I know.

I have just only a piece of reminder OP even I am not an expert on automated tradings tools, be careful of using API that might lead you from a hack. I had a friend saying that problem to me, his account was accessed with someone else. And that probably was already reading by them. That's why I don't like sharing my API from the account of your exchange.

Don't rely on trading bots. They couldn't provide you profitable trading more than you do. You better do trading in your own way. Don't rely things on automated trading when you can do it on your own and normal way. It would be a bigg risk.

Both websites that you shared links to just offer you a service where you can create and test different strategies using multiple tools they have. So they don't offer you automated bots that you can run by yourself and make profits unless you buy it from them. Honestly I don't recommend you to buy this kind of strategies unless it is from a very trusted source that you know well. Think about it like this,if someone has a bot and a strategy that's working really well for him them why would he sell it to other people instead of him just using it to make profit? Because by selling his strategy all he is doing is increasing the risks of trading websites detecting it and then find a way to block his transactions. So most automated bots that really work are either not for sell or they are very expensive so that not anyone can afford it and those who can are not going to share it further to their friends because they paid lots of money for buying it

I have been thinking myself on automated trading software and really wondering if those can work to produce the gains that I am dreaming. As always there will be advantages (I think) and disadvantages so it is till up to the trader to adjust and learn. However, we know that the best thing to do is never use any software at all and just invest time and effort to learn trading.

No, things that smell like bots and software really don't help at all. More victims than those who get profit using this kind of software. iindeed some markets may have been inserted bots, but the bots are only average fishing buy / sell orders. This type of trading will only look profitable at the first time, then you will see how dark this thing.

I just found it much more efficient to use our own skill and knowledge in trading rather than relying on a bot.
It would enhance our knowledge and skill experience is the best teacher in life so don't worry about a thing there would always be a mistake in order to learn.
It is much more better and you would feel proud about it since it is your own skill that let you earn your profit.

You need to read reviews about automated trading platforms. There are advantages and disadvantages that you need to take into considerations. Also need to be cautious about scammers. Better to do reasearch before using. The automated system might be not that reliable and secured. In short, study the platform first.

If you want to go into automated trading then you need to buy and use the bot urself. i won't advice you to let another platform trade for you . You might gey cheated as it is not transparent enough. Make sure you are on total control of it

When you are going to begin your crypto trading career you need to work for it,how can you expect the profits comes to your wallet without effort from you.If automated trading is very profitable then everyone should be using it so from that you can understand it is not going to be profitable when you don't have skills related to crypto.

I don't like to do automated trading because I cannot learn something that is happening in the market. I prefer to do manual trading so I can watch, learn, and make my own analysis related to the market. Sometimes, automated trading can help us, especially if the market can run as what we want. But that will not always happen in the cryptocurrency because the market will always move and will be unpredictable, so we need to do manual trading to get the right price to buy and sell.

I said almost the same thing to another user like you.
Dude seriously you are going to trust your own funds on a robot?
If i was in the place of you,  i wouldn't have done that.
Why you need to choose a software thay help you in trading?
The best thing you can do is trust yourself.
If you follow my advice, then i would say that,  do not try any automated software for trading.
Who knows whenever the bot may face some issues and you may lose your coins.

many people who trade automatically regret in the end. the market is always dynamic, and not every market character is recorded automatically. so that one day we will experience a painful loss

It is indeed a very high risk that automatic trading can change by itself, maybe in a system failure, there are good and bad things to use trading bots, but there are still many people who really regret that it is not in line with what is expected, it is better to use thought itself because it is very good to sharpen yourself without having to rely on robots that are not so clear, everyone can make their own analysis, don't be lazy to hone knowledge.

Thank you everyone for providing with opinions! Just as a notice, as I mentioned in previous posts, I also do not prefer automated trading bots that use technical analysis to determine best trading position (long, short, neutral). However, the platforms I am exploring enable user to manually create signals and that is something could be very useful (combining technical indicators, sentiment OHLCV, candles...). In the meantime, I’ve registered and testing both platforms…. I am not saying that this is best way to trade…but it is something in the middle (automated, but I am in control when deploying strategies)

PS. As for tokens risk, … both platforms can be used if you onboard just 1 token (on Kryll you can backtest, and on Dapowerplay you can do both, backtest and forwardtest/paper trade on live orderbooks).

So far what I know is about kryll, then in 2018 this platform held an ICO and was quite successful. You can see it here https://bitcointalk.org/index.php?topic=2791849.0
Yes indeed to run an automatic bot this requires a token, at least you hold the token.

But I do not recommend that you use automated trading bots because in my experience, trading bots are often detrimental because we cannot fully control our trade.

The only thing making them feel worried with automated trading when the market was turning around into the bearish trend. Automated trading can't anticipate the bearish trend especially when there was a big panic sell happened in the market. that's why we must aware of the fundamental of the market but the fact that all of the altcoin fundamental depends on bitcoin.