Bitcoin Forum

Hi Everyone,

I hope you're having a great week! I wanted to share a blog post that I thought would be helpful for people here learning about trading bots for the first time.


What are Crypto Trading Bots? How to Start Automating Your Portfolio
 (https://blog.shrimpy.io/blog/what-are-crypto-trading-bots-how-to-start-automating-your-portfolio)

What do you guys think about trading bots? Is it possible to automate your strategy and make money?

Trading bots is a good thing in my opinion, if you want to make time for other things that you want to do while still doing trading to earn money then trading bot is for you, or if you want to maximize your profit, it can also be a possibility that you will use a trading bot for another account while you are doing another trade with another account. I think that automation of strategy is already a feature of trading bots and yes it can make money, but that can only happen if your strategy can profit and you know how to tweak the bot to match your fool proof strategy.

I have never used one but with those who have used it and keep on using it, they're helping with whichever strategy they come up with.

Well, if it's not working, those traders that are using it will simply stop but they don't.

Trading bots are not efficient or 100% give you a good return. How DO I knew this? I'm using one which is automatically make trades for me in the future trading of binance. I've tried it cause I'm curious if this is working properly and how the method works. I have some losses and gains so technically its not that guaranteed profitable. The bots I'm using is automatically set up orders for me with a 20x and 25x set up for some coins that have been programmed. Right now I have two positions and one is gain and the other one is on bloody red.

It was a nice read. I would like contribute about this. Bots are explained real nice at these two articles:

• Crypto bots – why use them? (https://blog.cleo.one/crypto-bots-why-use-them/)
• How to find the best crypto trading bot (https://blog.cleo.one/how-to-find-the-best-crypto-trading-bot/)

 The concept of using bots actually not really well understood by most people. It is not really something that you just create it and it just does the magic. I use automated trading for its advantages and with those advantages I mitigate my risks such as emotional and trading discipline etc.

Reading all the comments, I got interested in using bots for my trading. I've been using mining with different tokens (https://www.mintme.com/news/digital-coins-a-secret-behind-web-monetization) , and it's been useful to learn about processes in this topic. Looking forward to reading more about this.

There are already tons of threads that talks about trading bots and a single search query can show them all, and this had been answered for many users. It is simple, trading bots are fine if you want to have a safe trading whilst having some things to do, but not that preferable if a trader wants to generate real profit. Some people think that using bots is like making a passive profit. Not all strategies are applicable in all times specially  with the market's volatility. That's just it.


There are tons of bots that is trusted by many users in this forum and my particular suggestion is GunBot.

I actually bought one for trading forex...
I know its not crypto related, but yeah, the robot has been working like magic, whether your data is on or not....

automation is such a big help, so if you have found one that works, and doesn't blow your account, keep it, making money passively is a privilege....
 oh if you want to get the bot you can message me its only $800.....

Didnt read up the article that had been connected into that link but to answer up this question about trading bots then its just really for pure automation.People had really just that kind of common mindset which would really be ending up on a mistake and lost their money just because they do put up too much trust on things that shouldnt really be believed on.

Yes, it can automate your strategy and thats how it works or its main purpose.Some are just using it even they do lack of experience which in result into a mess out automated trading.
Regrets what comes after and whining that bots are shit and doesnt work.

If they do just realize that it is still needing its users knowledge on how to handle it then these bots are quite useful but there are things that bots
cant able to handle which is on that situational change of mind or decisions which can be only altered by human itself.

I understand your point... like our human intuition right...
but isnt that we are trying to avoid in the first place... trading with emotions

V
Definitely, you just have to know what to expect.

j personally try this bot, and honestly it is not a good for me and it not result to a good output. I just lose more money when I use that, there are times that when you already want to take profit you will click close position and then bot will make an entry reverse to that, I uesd bot  in futures by the way. So it happens in. row, it seems that my bot is not okay and effective so I quit and uninstall the API, I will not use that again, I will trust my own mind and knowledge.

Trading Bot is fine to me. I am using a trading bot for one year gone and everything is fine here. I am using Bituniverse and most of the time I like to use my own strategy, There is also an AI strategy available. But If you know how to trade, where to use stop loss, how to know support and resistance then you can use a trading bot for your trade.

Now I have run a few grid trading bots and they are fine to mine. Daily they are giving me a good profit without doing anything. Kucoin trading app launches a trading bot from where you can use the bot. here is one of my running trade photo:
also here is one ongoing trade at Bituniverse :

Nice shilling. Does your bot return a big amount of profit in a weeks time that your asking price is 800$, that is a lot of money for something that is not even a famous trading bot. To everyone that reads this, do not follow the guy above, 800$ for a trading bot is the biggest scam ever, if it was real, the person should've posted the name of the bot in the first place, there are Open Source bots out there and they are free, just tweak some of them with some codes, there are people that can help you here if you want a bot. I do agree with @Murpheus about trading bots a good thing because of automation, you can do more things.

Sorry if I used any persuasive statement... from the looks the bot can give 50% monthly ROI... and yah $800 is a lot... but considering its a lifetime something its worth it or I think so....
and about the open source bots, pls where can I get one??

Well, shrimpy was also a trading bot at one time wasn't it? I mean maybe I am remembering wrong, now it says social trading platform but you guys have a bot as we can see some stuff are automated there. Maybe it is not trading bot type of cryptohopper or gunbot or whatever, but it still automates so many things so shrimpy could be considered one as well.

I personally do not really think that we are going to end up with anything remotely successful with a bot if we do not know how to use it, that is the biggest con in all of trading bots, if you can't use it then you will not make a profit with it. Also trading bots are not easy to use, even if they are designed very well, you need to understand about indicators and general TA to configure it and many newbies think bots will be more like "put money in, get rich" but it is not like that, long story short it is not as simple as one might imagine, it takes time to master it.

Trying to avoid? We are trying to suppress that one and would able to control it this is why manual trading is much more preferable rather than on automated ones.Yes, it might really give out the convenience
and the precise order execution which doesnt really involve any human emotion intervention but nothing really beats out when you do trade up according to your own decisions on point.
There are lots of bot that can be used in the market now neither its a paid or free one, it isnt really much off the difference when it comes to features and usability.

Anyway, people here have different opinions base on their experience and base on the feedback they've heard from other users.

Using bots in trading still lying on your strategy, it works according to your command. If you fail, then literally, the bot will also fail to result in a loss.

The truth about trading is that you can never rely on everything in them but still for you to work. If you are already comfortable in manual trading and you are already gaining, much better to stick there. I'm prepared to do manual trading than using the bot.

I see trading bot only have two function buy order and sell order no more than that. Also, it doesn't have 100% accuracy that the order will give you the desired profit. Because its platform only see the previous movement chart, whilst the movement price is not about seeing the previous price movement.

Trading bot will be suitable to you if you have good analyst. You have to set and use your strategy before you let the trading run automatically, which mean it is not pure that all activities run by the trading bot itself. Because the trading is a robot, the robot will have a function if the robot owner give a good programming system, if you don't have it I suggest don't ever try the trading bot.

trading bots can actually help, but I don't think they really help our portfolio significantly. because I think trading bots may only help 30% of our trades, the rest for trading we do manually and do the analysis individually to determine the profit

If the bo t trading you are using is not producing good output and is not producing for your trading, it is better to leave it and don't use it. You must choose a bot that many people have recommended. Using a bot that doesn't perform well will only waste your money. The use of a bot also depends on how you set it up, not just using it, but there are some that must be set.

The use of bots is for trading automation only and with minimal funds. Manual trading by analyzing the market is still better because you will also learn how to do manual trading properly.

I am one of those who have tried various trading bots several times, in the end it's better to trade manually. Because trading bots does not
mean 100% trading automatically, we need to update and settings. So using a trading bot doesn't make us 100% profitable, forgetting to update
or wrong settings can make us experience losses when using trading bots.

It is recommended to use a small amount of capital when using a trading bot, because if the trading bot is not going well. So the losses we experience
are not too big. Besides, trading bots are not recommended for newbies who don't have good trading knowledge, later it will be difficult to make
the correct settings when using a trading bot.

Well, because of the fact that a trading bot will not work without your command, that is just a bot to execute on behalf of yours when you are away from the keyboard or perhaps while at sleep. When you have a trading bot, that does not give a guarantee that will surely gain profit, it all depends on you and how you will set up the bot. I will not discriminate against those trading bots out there, they will still helpful tool for me when we are in trading but as what I have said, don't rely on it and always stick to plan, your bot will help you if you know how to set up your portfolio properly with your strategies, the bot still a part of a tarading tool.

Therefore, you are using trading bot mate? You won't say this as an advise but it is not a good thing, am I right?
Because in my case, I don't use any such things like trading bot. Due to according to my assessment, if it is really helpful
why not all traders using this tools to get profit in bitcoin or cryptocurrency, just a question only?

Yah... I mean why would anyone sell his trading bot in the first place, if it was such a game changer....
that was the question I asked myself before buying it....
he said 'I sell it so I can have a secondary source of income' it sounded like a good reason tho....

I think trading bots are only usefull for,who have not much time to do trade.Because, i think do trade with manual mode is better for me, any step i can do in manual mode any time.Moreover I have heard many traders say that trading bots sometimes do not work properly.That's why I always avoid trading boots and i never think that trading bot help me to my portfolio.