Bitcoin Forum

want trade by bot what do you  think  are you with bots or not
i have idea to link my bot to indicators like rsi example if it hit 20 buy if   hit 60 sell something like this

Not 100% sure what you're trying to say, but using bots can work, if you're already a decent trader in the first place. Hopefully you don't think trading bots as something that you run once and make you money forever, because traders alter their bots A LOT. It just automates some things, but definitely not everything.

Lol!! Trading bots are not money making machines!! They can't take decisions unless you do!! If you pre build logic within the bot and the market is not in your favor, then you will loose money!

I don't know if we already have a trading bot intelligent enough to take decision based on market dynamics or not, probably a more veteran trader will be able to answer this! But I prefer to use my own brain based on market dynamics and take decisions accordingly!

Most bots work like that. You set up an indicator, the logic, and then let the computer do the calculations for you.
It is good for you if you're a day trader, and you can get it for free if you use open-source trading bot like Gekko or Zenbot. But you need to set it up by yourself.

Is it always good to use a bot? Not really.

That's a terrible strategy. It won't work manually and it won't work with a bot either. The key to trading (manually or with bots/scripts) is employing different strategies for different conditions: uptrends, downtrends, ranging markets, and everything in between. With a bot, that means tweaking the parameters regularly so it can properly repair its positions. It's harder work than most people think.

I'm not using any bot, but I heard most of the time in trading discussion this bot. In my idea about this, bot will work for you to give profit if you are traders here. But I doubt it is true, because if all bot users get profit in it for sure no one will do trade anymore in the actual platform. In short, its not precise and uniform that will give earnings to any bot users. It can only wreck your capital in the end.

Trading bots are useful if you are good at predicting numbers, you should learn when to sell and when to buy.
Trading platforms make it easier for you to work and reduce fears if you can’t control your feelings. "Playing from the safe side."
If you are good at guessing why do not go to Las Vegas and play monopoly game.

I hard about like this couple of months ago. but i have a question if a bot indicate when market going down and when it's up then don't you think people never don't want learn about trading. Everyone install or buy that bot to trade. I think it's too much risky for sensitive trade like crypto. And it's better to way from that kinda tricks.

I do not use bots and have never tried to learn about it. It seems that trading floors create virtual volumes by installing the bot trade into it. It looks better when users know the operation of that platform. Bot is really useful when replacing people working 24/7

A bot is a tool, an extension. If you are a good trader, a bot can help you. If you are not, the bot wil wreck you...

you must first start learning how to trade on your own.
then you have to trade for a moderate amount of it, I say at least 6 months to 1 year longer if we are in an overall altcoin pumping season up to 2 years.
and you have to have successful results overall during that time.

then after this amount of time and experience, if you felt the need to use a bot then seek out your options but if you are just starting and want to jump in with a bot let me tell you now that you are going to start losing a lot of money soon. bot is not going to perform magic for you if you don't have the experience to ride the market waves.
and things like RSI,... and generally anything TA related is not a predicting machine that you can automate your trades by "linking the bot" to these things!

Bot is an automation of your trades which means settings would depend into its user itself.It doesn't mean that it can

give or generate income for you and this had been the wrong mindset for most people specially newbies believing into such things which is
impossible.

You can set all you want but don't expect too much.

Not necessary or should I say, I'm not comfortable with it.

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If your purpose is to do the work for you then it's up to you.

A bot's execution is based on what algorithm you will apply for it. Just don't think of it as a tool to increase your winning rate.

It's looks like you are still very new in trading, so instead of trade by yourself you would rather choose trade by bot to make your trading become easier, maybe?
I can't recommend you to trade with bot, since it would cause something bad if you didn't set it by carefully (it could cost you more money)

haha it's useless, you just waste time trading with bots. I myself have experience trading with bots and it does not produce anything, there is only a loss. Moreover, your strategy is very common, it's better to use it manually or study trade rather than having to create a bot.

but if you still want to try, you better learn first the trading strategy and make your own best strategy then apply your best strategy to the bot you want to make.

I have bots by I seldom used it today but I just prefer to just HODL in the current state of the market. However, it looks like you are a total noob in trading (don't take it personally), so I will advise you against using bot. The main reason is that you need to set certain parameters, which for beginners might be a daunting task. J

ust try and get a feel of trading without using any automated tools first and see how it goes for you. If you have gained some experienced and have the confident they you can slowly implement your trading activity with an trading bot.

^^ Words of wisdom.

I would never recommend bots to people who don't fundamentally understand markets and can't trade them. Bots aren't a solution to being a bad trader. They are for automating trading strategies that are already profitable if employed manually.

Most people trading crypto are just better off trading manually at a desk or wherever you trade instead of pouring money into buying a bot subscription and praying that whatever random numbers you add in will be profitable. As others have said here, bots are ideally used for precisely executing a strategy that you've determined to be profitable, and there are times when certain strategies are more useful than another, especially when trends change in a market, so you don't have to manually be at a computer executing the strategy.

There are also ways to backtest strategies so you can optimize a strategy without using your capital (using TradingView), but that still doesn't guarantee a strategy's going to be profitable when you actually feed it to a bot.

Using a bot in trading is an advantage to those who doesn't have time to day trade since day trading requires focus. Also its an advantage to those who has little control with their emotions since bots will follow the settings that the bot owner provided. I am using a bot (gunbot) and it works for me since I have a day job and I let it trade for me based on my settings.

When you have intention to trading then you have to know about the strategy of trading itself. You have to know the technikal analyst also fundamental analyst which can have a big effect on price movements and if you master both of these factors well you don't need other tools such as trading bots to get profit.

I doubt trading bots mechine will give you a more comfortable to gain profit. Because it is a useless thing, you have an ability to make money by trading. And yoy should know most professional trader out there never use trading bot when they start to trade. They only use two factors that I was mentioned above, so it will be good for you to know these factors.

Dont try to use bots, they are a waste of time.
In fact, i used to buy preconfigured bots a long time ago, they all were a waste of money and time for me, i could never get them to work.

Some people say like what you said, but others not. Maybe bots will really work if we set it right. I actually not really know system of bot but my friend use it and say that to me. When we right to set bot, can make profit to us.

In my knowledge about bot this is not 100% can give profit to you from time to time.
Besides, I never use any bot ever since I became one one of the community here in the forum.
And most of the bot has rental fee's, correct me if am wrong with this. And once you have this thing,
this will work for you if you have no time to work for trading, right?

Bots do work if you configure them correctly. I've been using Gunbot for quite some time with some custom settings I've been testing for several months and I'm making a profit on most days with it, though I'm still working out some kinks daily and changing settings as necessary. Nobody's going to give you a (good) profitable strategy for free, because if that strategy was so good, why would anyone give the strategy away for free or for a low price?

I will definitely say that they're not for everbody, though. Even if you're already a good trader, it does take some time to figure out how to use and configure the bot you're using properly, and there's no guarantee you're going to make money with 'em.

I think bots are working towards one goal and that is making trading automatic, not profitable. Now you can of course profit with your trading bot and there are now ones that makes sure you do reverse purchases as well and so forth in order to make money even during bear days however no matter how much they improve it, if the market is shitty the profits will be shitty too and you will end up losing money.

However, if the market is already good then you can make a decent profit manually as well. What bots are giving you as a chance that they have zero emotions and you put in indicators and it just works like that 7/24 without stopping so there is a chance you make more profit than you normally would doing it manually. Its a time saver not a money making machine.

You have the wrong belief when it comes to bots.These aren't automatic things that can work for you unless you have set out some commands to it
and they do the work for you.It isn't really something to care about if you are a trader which do have a plenty of time to spent on with trade.
Bots are for automation nothingless.

I looked at your post history and saw this:


I think you are new to this market, if you are new to this market, I advise you to trade in person instead of using a bot. bots have their cons, you can see this in bot threads or by researching in google the advantages and disadvantages of using bots

Trading with a bot is not always the best way to trade and bot do lose money more than human, base on my experience. If you have good skills in analyzing the market with success I will advise that you should do that instead of depending on bot or robot to trade for you. I have tried that several time but it seems it doesn't work well in trading.

Its really not the best way to trade, its just a tool to help out those who are not good in controlling their emotions and those day traders who wants to trade even when they are away. Disadvantage of using a bot is if you placed a wrong command or settings. I remember there was a time in Bittrex, i forgot what coin it was but there was someone who places a sell order below the current Sell price so the price of that coins keeps going down. I remember posting the screenshot here this forum and I suspect its triggered by a bot.

That is my point, we must configure it so we can make profit with it. And not all people can do that, like me. I still like to do trading like usual because not good at bot trading and never think to learn about it.

I am not with BOT and I don’t like trading with BOT, most BOT services may look like they are working from the beginning but they end up crashing along the way, and the time they usually crash is a critical time when you have so much relied on them,and this critical period they crash is when most people lose all their money in the trade.

I think I would rather prefer to trade myself, it is better I take time to learn all the strategies and skills needed to trade successfully than to rely on trade. I would not even rely on trade signals not to talk of BOT. I will advise that you just take time to really learn trade, get some mentors that will out you through and before you know it, you will become masters of your own trade. So dust off that idea and make some studies.

You should be more clear when asking for help. I am assuming you are looking for a bot that can be customized, right? Such customs bots can be found around in the forum for free (or some asks for some small amount of fee). Just be careful when using those free bots. Most of them might be infected (I never used any and would suggest you to make your own bot if you know how to code).

Of course he is a new player in the crypto world, so he asked about bots, because for those who are experienced certainly don't need to ask such questions, I think he just lacks confidence in trading and lacks understanding of bot functions, after getting answers from seniors here surely he will reconsider the use of the bot.

I have never used a bot, mostly I trade myself. But I know that with it, too, you can make successful deals. So you may well try to use it.

If you want to develop your own strategy in trading and having an algorithm that you feel safe with, develop your own bot. Do not trust anything created by someone from outside whom you cannot trust. More so in the crypto ecosystem where scammers are everywhere trying to scam anybody they can get their hands on, added with it the irreversible and quasi-legal conditions of crypto, this is a more important message.

Without having a handwritten bot you are only going to feel bad when losses occur, even though thats not the fault of the bot, but just trading. So you can develop a bot to automate your methods but that never guarantees any profit. ;)

I constantly meet with the statements of professional traders that the result of a trader depends only on him.  No bots should be used, since the trader will lose not only his grip, but his experience in cryptocurrency trading will be distorted.  It is better to spend more of your free time on trading cryptocurrencies, and the results will be much higher than when using bots.  Better I will learn and work on my professionalism, rather than rely on someone else's strategy.

We actually have some BOTs that are perfectly working well and they come from very reputable companies that are well known and can be trusted, but thee only BOT that I know of only works with Forex trading, I have been using the Bot FOR MY FOREX AND IT HAS BEEN HELPFUL, Like now, I trade on both market, to manage trade manually is really difficult, it is either you leave one for the other, but if you wishes to do both, you may have no choice than to buy  BOT application.

For crypto, It has not crossed my mind to actually use Bot because the market of cryptocurrency is not as stable as that of Forex, so I would not really trust any BOT for a crypto market with this volatility. I think is juts just best to trade cryptocurrency manually and for those that don’t know how to trade, they just strictly stick with investment.

You can try that, but that will not guarantee you to get a profit because the market cannot be predictable. You need to set the other things so the bot can adjust if the market is changing. But I don't think that will be easy because the bot will difficult to follow the price on the market and maybe you need to watch closely. It is still better to use manual trading than to use bots in trading because we can always monitor the market, and we can modify many things before we make an order.

A trading bot is similar to gambling bot, from my experience for both you need a bigger bankroll so they can run. Smaller the bankroll is, the bot will have difficulties to work. If you thinking about running a bot, the first factor to be considered is bankroll, the second factor is choosing the right coin, with nice price volatility so the bot can run and make money for you.
I tried several trading bots, but I didn`t invest a lot in that and I think it`s the main reason why I didn`t make money with that, I didn`t lose much too. I like manual trading more than trading with bots, that`s why I quit using bots. I tried free trading bots, maybe there are better bots that can be bought, but I didn`t try that.

That's the usage of a bot; you will just set your rate when it buys and when it will sell. I mostly use some bot in trading because I can't focus on trading because of some matters. But you must take note that if you want to have a higher profit is much better to concentrate on trading than depending on the bot.

I used a bot which name is Apitrade. You can google it and find the website. The results are not too bad during the stable market and bull run. But the problem is I trade too and my results are better than bot's results. If you don't trade, this bot can trade for you.

if you can trade yourself more accurately better if you dont  depend on bots  . our  brain is more better than the bots performance because they were only programmed by humans  but you said that the results are good which means bots are really useful in a hectic schedule  or on a person that is not really good at trading  . i dont heard of that bot that you used before , is that new ? im only familliar with gunbot because they are being advertise on this forum on the past  .

Yes, I already tried too and I agree with what you say that we need to have some amount of funds so the bots can work properly. I tried to use 0.01 btc at that time, and I set a buy price for a few coins, and the bots will not execute to buy the coin if the price is more than 0.003 btc and I set it to buy 0.002 btc for every coin I want to buy.

I don't suggest you to go with trading bots because you simply doing it as gambling so you will lose more money than you are making from crypto trading.

Better do trades for less profits when you can and make the profits grower by little.

I noticed that quite a lot of Bitcointalk users recently advised not to use bots for trading.  Apparently this activity is already becoming irrelevant, Although everyone has their own views on this case.  I believe that it is better to personally study the trade so much that you can do everything yourself with the best results and the best results, and not rely on the program.

It is just like you always hiring a machinery to do something that you have the ability to also do, and then you get used to it that when the machinery no longer exist, you end up in a vegetable stage because you have no idea on how to further more on it. Bit actually work to some extent, but if you continue to rely on Bot, how then would you know how to trade yourself, and trading is something that really requires practice, because the more you practice, the more you get better in it.

Bot is only for maybe people that are purely not interested in trading at all and just want to try their luck to see if they can make extra income from trade without having ti trade themselves, and this is mostly done by maybe office workers and old people, but any young agile trader, it is not advisable.

You can do trade by a bot. But I think it is not so easy like manual trading. And bot will not do any work alone. You need to input data into the bot and for putting a essential/profitable data you need to more experience about it.  So I will not suggest you to use bot without any knowledge about it. First try to learn then try to use. thanks

If you already know what your doing and mostly have repeating trades sure a bot will help you out to watch the market and execute trades for you.
Just skip the bots that are closed source.

My preference is always about doing manual trading for obvious reasons. But if there is really desperation when it comes to Crypto Trading Bots (https://cryptolinks.com/crypto-trading-bot), I will prefer Gekko, it’s something that I have heard plenty about. I have not personally used this but in doing all research that I have regarding Crypto bots, it really leads in very noticeable way. So I for sure will suggest their name or probably not doing automatic trading at all, it depends on your views.

Never using bots, just using my skill (TA) and news about coin/token you want to trade.

Today, even experience traders trust some bots. However, before using them, you need to remember some serious stuff. First, you will never find bots that will always bring you profit. You will surely need working out a personal trading strategy and all the time control it. Bots will simply help you to cope with emotions and eliminate trading routine.

However, when bulls come, bots bring profits all the time.

I did consider the creator or programmer of the bot and their understanding of trading. also I will get a bot because of tight day schedules it not easy meeting up with trading and still run other problems on the side.
Why I like bot
1. It does what you input into it no sentiment or emotion leakage
2. It's tireless and can run for longer hours

If you plan to use a bot in trading, make sure you go for the one with a good community behind it. A community that will help you if you have trouble in the setting it up or simply of you encountered a problem. if they have a Telegram group that will be great. There' a lot of bots out there but only a few have good after sales support.

Bots dont have the instincts of a human.

Yes, bots can work with a little profit but it cannot be done in a full time working machine since the market of crypto currencies is so volatile.
You will still need to monitor everything. Maybe leave it for 8 hours when you are at work then back again checking it.
But if you are really into making a lot of profit then manual trading will still be the key.

I advise you not to use boots to trade. The reason I didn't recommend it is that these trading bots usually don't work flawlessly, and we've seen how bot failures have occurred in various periods. The problem will be quite large, especially if you are not using a quality bot. It is not necessary to use a free or low paid trading bot, because the algorithms of these bots are resolved quickly and very often they are misleading. For this reason, it is necessary to use very high quality and personalized bot service or to make transactions without using any bot. It should not be forgotten that with the slightest harsh drop wave, the bots will buy what they find.

Well, someone who only relies on bots is more likely to aim to make profits. And actually not because they can't trade and do their own analysis, on average between them are bored and too busy so they choose to use bots.

Bots do make a lot of traders addicted and ultimately dependence on these machines. They can only realize that their bots are useless with market conditions that cannot be predicted anymore.


But usually only a few community members will give their strategies for using bots, even this is my own experience. I used a bot before, when I still did not understand how to trade, I met many members of the community, they were all stingy to share the strategy and it was useless to use it, well finally the bot is now trash.

Thanks for that suggestion.

But I think the name is not Apitrade since as far as I know, that is a great site. I am not advertising them but I did hear and read that it is a great platform. I am not great in trading but all I know is that I usually gain profit but not that big as some of the great traders here. I think I will consider Bot to do the trading for me.

trading through Bot looks were awesome while planning but when you try and actually set up a bot you will realise that the automation is not that easy. By saying this I do not mean that it is not possible to trade through bot. It is just that it needs efforts to set up bot. Like only RSI strategy to set a bot is not enough.

Let me tell you what all efforts I have put in I use to read can work on my strategies then on TradingView I use to script it back test it and check the wining and losing bets of the strategy and then again work on the strategy and improve it back test and so on. But, once the bit is set fruits are good as Bot does not have emotion and no stress.

Golden rule is whatever is the strategy or whoever is trading(bot or human) Stoploss is must

Most trading bots that I have seen are actually typically designed to do this, and secondly, bots also work for the company that produces it, you might be getting some profit without knowing that your profit is being split and connected to another account, I have vowed never to use a trading both ever since one of my software expert that is into some of this applications, told be about what some of his friends do to this trading BOT.

It is best that anyone that wants to trade should just try as much as possible to trade manually, and trading manually makes the trader to continue to acquire more experience that will make him become a strong trader. I know many people are scared of losing their money when trading, but that is part of trading, even BOTs too do loose trades often.

The trading edge is crucial in trading with automated bots. If there is no trading edge then making one of these trading bots will be a waste of time. Arbitrage trading is prominent by the human traders but bots can't give the same performance no matter how many modifications made by the software engineer. The withdrawal fees, order book, other competitor bots reduce the profitability of the automotive trading and that is the principal reasons why everyone fails.

This is a wrong approach. If you want to trade then do it on your own rather than using a bot. A bot only automates your order placing and running some algorithms. These bots are the reason Binance Sell walls become so high and make a fake market impact in terms of aggregators like coinmarketcap. Overall they have a bad impact on the crypto economy and neither does using a bot guarantee your profit.

However we have some people who are trying to make money by selling bots. So they will feed any person they can find with their BS propaganda about bots and how they can be used to get profits. They are nothing but lies.

If you are very busy with your work, you can automate your trading process with the bot. But you need to have much information to set up the bot so the bot can run properly. I already tried to run with bot although I still monitor by watching the market online, I feel I cannot get something if I use the bots, and that makes me decide to stop the bots. And now, I prefer to make manual trade, and I now use tabtrader to help me trade wherever I stay, and I don't always have to watch the market in front of my monitor.