Bitcoin Forum

I am a trader and I have been trading since 2016. What I have noticed is that the rally whether moving up or down happens so fast that it becomes very hard to catch immediately and I keep on watching this which happens almost every day. Most of the time in attempt in trying to catch the rally, I end up making loss. I hear a lot that people use bots for trading/scalping. I have some of my friends who do also use bots for btc & eth trading by paying a small fee to the developer but they are hesitating to reveal anything about it to me. I believe this community is big and can help me in understanding and using bots for my trading where I don't have to sit hours watching for the movements. So here are my questions: How to use trading bots? Where can I find a reliable trading bots? Can trading bots be trusted? Any scam related trading bots to avoid?

Please keep this thread related to topic which may help many others who are wondering about bots. Out of topic things will be deleted to keep it clean :)

There is not stable trading bots, so it's gonna be just gamble
I've tried a lot of bots, cheap and expensive ones
They all don't work.

I think no one will sell a bot that works

Even you are using a bot, you need to know trading chart. Bot not working automatic as we think. We need to set Sell/Buy order manually. Mostly bot working just to make us easy to trade especially if we are have lot of trading account. Any stop loss, take profit must be set by ourself. So, if you don't have experience or knowledge to read the chart, using bot just wasted your time. CMIIW

Not sure which bots you are referring to, but nothing can be truly "trusted" these days. I've heard that Stakenet is about to release the worlds first DEX with Lightning Network integrations, which they'll be testing trading bots on soon.
Liquidity is always the biggest obstacle when dealing with DEX's, but thankfully they've thought of that as well. Their "DEX Aggregator" will combine all the relevant DEX's on the market's order books, and make them available through their own DEX, which will add TONS of liquidity, which would hopefully make it possible to profit from trading bots in a decentralized environnment?  ;)

I am not interested in any trading bot and did not try it yet to do trade by using any bot.
There are some bot related posts had posted in this forum previously. You can take a look there.

1. [Tutorial] How to configure cryptocurrency trading bots? - Last update: 06/11 (https://bitcointalk.org/index.php?topic=5058472.0)
2. [Comparison; Tutorial; Profit; Settings] 💙 Trading bots and SUPPORT BOT 💙 (https://bitcointalk.org/index.php?topic=5098436.0)

If you read these thread carefully hope you can understand all things what are you looking for. Good luck.

I can not get this line. what do you mean by that?  how you will delete other people's comments? I am seeing thread is not self-moderated.

https://bitcointalk.org/index.php?topic=5236245.msg54116234#msg54116234

May be if it interests you, do give a look.

A free and open source Bitcoin trading bot: https://gekko.wizb.it/

In regards with how to use, what strategy to use and how to set up... No one will share here a full detail or full tutorial for you I suggest to use the searching engine and youtube to do some basic research and read articles about it.

Also there are some articles and videos on the web about reviews of different trading bots.

Try https://www.gunbot.com/

But at least try to read up first those links above given by other member about on how to use it up but theres also on-site instructions.
Just remember that bots are just good for automation of trades which means profitability will still vary on how you do set up your bot.
Theres no magic profits on here.

No, it works automatically but you have to set it up manually, just a bit of correction there to you mate. I agree, bots are just optional if you have a lot of accounts to handle or have a day job but has a target to trade. Personally I don't use trading bots since I find it very uninteresting coz I'm quite a day trader, everything changes without giving any sign so it might burst a mistakes. Don't let having trading bots your first option in trading, make it yourself as much as possible coz the interaction is really needed. just saying.

Trading bots only use to automate your trading activity not to make a profit it depends on you how you set the trading bot. So, all trading bots out there depends on how you use them. There are no stable trading bots that make you a stable income.

The only difference of using other trading bots they have some unique trading strategy added and unique features compared to other bots.

I vote for these two Gunbot and 3commas they are the best trading bots out there with many trading strategies but the strategies are not 100% that will make you a stable income it will still depend on the market price movement.

But since OP is a beginner and wanted to learn about trading bot I suggest to start using free trading bots they have fewer strategies but it's a good start to learn how the trading bot works.

Gekko already mentions above and it supports more exchanges compared to this one below so only this one that I'd like to suggest.
- https://github.com/DeviaVir/zenbot

what do you mean by "rally"? a rally that happens so fast that you can not catch it and if you do you end up losing money is NOT A RALLY it is called a pump and dump and no trading bot can help you make profit from a pump and dump since they are not predictable and depend on the strength of the pumpers, the level of attention newbies give that pump, the hype that started the pump, the amount of money the pumpers are willing to waste on the shitcoin, and a lot more.

i suggest rethinking your trading strategies first and try to figure out what you are doing wrong before thinking about using a bot to solve an issue that can not be solved.

I just trade when bitcoin or some altcoin really down price and hold several day or weeks and sell after price break up to higher, I don't some analyze and always waiting when best moment where bitcoin have down and waiting for bitcoin back to higher price for selling, not needed to know how chart is going on.

Trading bot come from with exchange market it self how to make many people try put with higher price, I ever buy some coin at higher price but always across by bot trading of exchange market and never become on the first position for my transaction order for selling or buying. I think just take position with price do you want.

My experience with bots is negative. Even if there is one good bot out there, why the developers are selling it really? They have all the reasons in the world to keep it for personal use.

I tried to use the bots that were available in market for years and they all have major flaws that scare me to put substantial money behind them.

For this reason, my team and I starting building our own platform.

Biggest Issues we had:

We were using Pinescript, but we couldn't rely on the data that TradingView was giving us.
We couldn't test multiple settings on the algos quickly
In order to execute, you had to use alerts that passed information to other systems and it caused delays or sometimes wouldn't execute.


I think we've fixed all those problems.  We're not in market yet, but we will be in a few months.
We're giving the product away for free for the next few months while we finish building all the not-fun stuff (Account Management, 2FA, payments, etc.)

Checkout our Onboarding Video:
https://www.youtube.com/watch?v=pmOohdOc1t0

If you like what you see, you can go to www.tuned.com to sign up for the Alpha.

Anyone from Bitcointalk will get priority access :-)

I don't suggest to buy trading bots online, If you have a friend using trading bots that it works with them, you'll be using that also.
I know trading bots can help us especially when are having a hard time at work and can't perform our daily trades at all. But fully relying upon trading bots is not really a good idea, they are functioning depending on the signal that they get and it is different than we do trading manually.

A lot of offerings online and have tried it. Some of them giving some tutorials and time trials for you to evaluate if that fits your perspective and really functioning. Maybe this could help but be careful otherwise, you are in a trap.

Thank you very much for the links :) About the self moderating, I missed to click that option. I will see if settings can be changed :) If not, out of topic can always be reported to the moderator to be removed :)
Thank you for the gunbot link :)
Thank you, I will check yours as well :) Is it free for lifetime for early adopters?
Thank you for the advice. I am definitely not looking to buy at this moment after reading all these suggestions :)

I'm using gunbot for so long and I didn't encounter any problem on its platform yet. As far as I know, it troubleshoot immediately any errors or problems when some users report if they are having a hard time using this trading bot. Gunbot will keep you guarded from trading opportunities whenever if you are not keeping in track and doing some other businesses. It also support and let you trade in several exchanges without hassle so that you will comfortably use it. Everyday, most especially during this quarantine, I have nothing to do but to let my trading bot work on itself, I'm just monitoring it about the strategies I'm putting on it, but the rest is the Gunbot itself. It manipulate my assets in the market and it functions very well.

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Do not forget that the reason why you are being so late could also very well be people putting orders before something happens as well. It could be thanks to a bot or it could be thanks to exchange being properly developed but whatever the reason is there are options to trade before something happens.

Most commonly known one is "stop loss" which makes people sell when the price falls under a certain level, when the price falls too much there are stop loss activated and those are sold as well, and when they are activated and there are some more sell, more and more stop loss activated and it basically rushes downwards. Same happens for every movement and every order, it is not all bots but there are people who put orders. Of course, bots are a thing as well, that is whole another point if you want to go deeper.

Trading bots are just a means to assist you in the cryptocurrency market, all important decisions need you to research and make your own conclusions. If you are looking for a trading bot on your behalf to work and make a profit, I think such a trading bot does not exist.

Without any automated trading bots that can generate profits, most market bots can only automate your decisions.
Ask a question: If you can create a trading bot that can automatically work and bring in profits, would you be willing to share it with everyone instead of using it to make a profit for you?

Yes, trading bot still relied with how you set up the program, it will helps you to lessen your stay inside the exchange but each decision still
depends from how you place your entry and exit position.
The bot will also allow you to assess good decision making by providing data that's been collected from the market.

Well, we all know that using trading bots is very useful for some traders because it really helps them to manage their time well. In using trading bots, you don’t need to spend a lot of time to monitor the chart because the trading bot will also do it for you. There’s a lot of thing that can saved when we used trading bots, but are we assured to them that are account must be safe? Using trading bots are using Artificial Intelligence (AI) so that it is not 100% sure if they not shrink the profit that you gained. For me, I didn’t use trading bot in trading because I want to manipulate it by myself.

I'm not familiar with trading bot so far and I never try to use it to every trade that I did. But, seeing on the scam accusation thread there are some trading bot that must be avoided if you really care with your money and here are some of them

1. https://bitcointalk.org/index.php?topic=5124056.0
2. https://bitcointalk.org/index.php?topic=5085271.0
3. https://bitcointalk.org/index.php?topic=5078705.0
4. https://bitcointalk.org/index.php?topic=5078705.0

So be careful with trading, they might a legit trading bot but you have to realize the trading will be useless if you don't know the basic knowledge about trading.

There are many trading bots that bring many benefits to users, but all strategies are designed by users.
I have never met any trading bot that can work automatically and bring benefits to users.

That is the tricky part about bots, you have to know trading before you can use a bot and that never changes. If you have zero idea about how to trade, there is no way you can make any money thanks to a bot neither. Traders usually use bots to actually save time but also be able to reach to places they normally can't because they are not fast enough, they know what they should do and they know how to make a profit but they use a bot to both be faster and also do what they would normally do while not in front of PC as well.

So, if you are a person who CAN make money trading, you will make money using a bot as well, if you are not a good trader then that means bots will not help you neither. That is just how all of the bots work so far, none helps a noob out with just one click.

Trading bots works like manually. The only difference is that trading bots execute trades the moment your set limit has been reached. It's like your assistant but in a way that it's more reliable. This one is a good trading bot for me IMO: https://bitcointalk.org/index.php?topic=5132033

It works like your broker. You'l have to deposit according to what package you've chosen. It's risky and you could get scammed if you don't do a proper research.

Hello,

 i would like to share a trading script that my firends have been working on for 2.5 years now. I was one of the first users to have it and for me this was unknown territory, but the simplicity made it easy to use for a beginner like me. Now i have been using it for 4 months and the results are so good that i dont trade manually anymore.

You can trade any coin you want but it works better on smaller altcoins/USDT. I have had days like 1-5% and even a 10-39% trades in one day or just with one trade.
There are 32 different presets, stop-loss, trailing stop-loss, take profit, trailing take profit, force sell and turn sell signal off options.

No need to use all of them but its quite easy to understand for everyone. With the strategy comes the indicator that you can have it automated.

I`m posting this here because these guys need more reputation for the work they have done. First 7 days are free to use and if you are satisfied with the result then you can get the monthly plan.
Let`s support these guys from small country in small town.

https://www.wizedec.com/

PS: if you really like to subscribe to monthly plan then contact me first. I can give you discount link.

Thank you for the attention.

I agree this community is toO big and it is always ready to help people like you but unfortunately this is not the case what you are actually looking for. I mean to help you to get most profitable trading bots, I believe your friends must be more handful than this community because they can easily understand all your requirements like your  preferred profit/stop-loss ratios according to your capital and all other risk and money management related things.

It is really rare that people are having friends who are using trading bots so I suggest you to make use of your friends first and you keep looking for a practical help from the community as well :).

These are basics of trading bots before you make use of them. You can go searching google and this forum before concluding some people's experience on this discussion. But, you must make use of youtube videos for educating yourself about basics of trading bots which is not at all possible by this community.

Obviously yes, it'll be sold although not cheap. If you decide to keep the bot just for yourself, profit will only come from you using the bot to trade but when you do sell to others it doesn't mean you'll automatically be at lost in your trade instead you'll still profit from trading with the bot as well as recieve extra income from others as they buy the bot.

Concerning the OP's questions, yes we have bots that can be trusted although 99% of bots out there are just scam. Since you're interested in an automatic system that'll buy and sell coins for you, why not use the advance trading tools available on exchange like buy limit, stop loss etc. You can easily place your trade on a specific sell price and when the market get to that price it sells your coins for you, same with a buy order and also stop loss option.

I am not familiar using bots in trading although I have a license for some bots. I know some bots that might work for you. You can try with Gunbot https://bitcointalk.org/index.php?topic=1715214.0, CAT https://bitcointalk.org/index.php?topic=507103.0, and you can read how to use the bots by visiting on that page. Those bots will have the price that you should pay, and you need to spend some time to learn the basic command to use the bots properly.

I think you don't have to use bots, but you can learn by yourself. You don't need to ask your friends about the bots because you have sources about how to trade with the right. You don't have to catch the rally if you can not do that, but you should focus on how to buy low and sell high. If you do that, I am sure you don't need to use bots because you use your skills to trade which will better than using the bots.