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Most people posting here probably know that there are a lot of trading bots out there, but does it work? How could you tell if one is working?

Most of them probably have promises that you could gain profit, but that's different. People should understand that bots are told what to do and would react to what they have set in the parameters. It still depends on how the market would go and how the strategy you would have set would respond.

What do you think about trading bots in general?

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I am not an active trader and a trading bot user, but people need to know that trading bots are just a tool that still requires you to have an actual trading plan that you follow religiously.

Suppose you do not have any idea what you are doing. In that case, deciding to use a bot could do more harm than good because, in the first place, it isn't about knowing the bot's functionality alone but rather knowing how and when to effectively use it with respect to your trading plan.

Trading bots will not guarantee you a successful trade all the time, else everyone will be using bots. Also you do not need to get too relaxed using trading bots because you are unaware the day it will cause you a big loss. Also over dependence on bots can take out the fun in the trading and turn the trader into a trader who doesn't advance or grow. You can use bots, but avoid the danger of becoming too accustomed to them.

I personally don't have any experience with bots as I think it's time consuming to have one works or it's just a hassle in my opinion especially setting it up. It may eliminate the behavior towards trading especially the emotions but with market right now that's is not in good condition and volatility could spike in any moment I don't know if there's really a profitable one.

Expectation: you purchase a bot, you turn it on, and you make profit forever while relaxing at the beach in the Bahamas

Reality: trading bots (at least the long-term successful ones) are used by active traders to automate some of the trades, and is constantly updated to fit the traders' needs

The problem is that most of the bots are not genuine and were built just to scam traders using them and causing them more losses. Finding a legit bot is difficult as telling btc price in the next minute. So in my opinion, you should learn to use your human knowledge and capacity to trade and gain exciting experience than relying on a bot with your hard earned money.

Before I say about my opinion of trading bots I have to first of all note that we always missunderstand bots and at some time use them beyond their scope.
How do I mean by this? I have lost huge sum of money through bots not in cryptocurrency but in forex. While I was using the same bot with another person I was losing money and blowing my account on a daily basis while the other person claimed he was making some profits which I don't really know if he was being truthful .He had some extra skills of manipulating the bot to work with his strategy but I was just stocked with the strategy that was programmed into the bo. Bots are used for some temporary time when you have studied your strategy and then want to go off the screen for some hours you can use the bot. Hardluck is when you have decided to leave all the job meant for human and robots for bot to handle, because you will run into losses. This is because the market has institutional traders that can distructure the market at any time.

I have seen several trading bots and used very few. Future trading, spot trading, DCA. The one I like the most is DCA bot. Others come at a risk of losing funds.
And I don't know what's the point of spot trading bot. You can just do it yourself. It makes sense if you are a busy person and can't give enough time in your trading, then if you can tell the bot what to do in a situation then it will be useful, otherwise I don't think we need it at all.
And if you are in a loss then using the DCA bot properly could benefit. But as always, it won't be 100% profitable.

Since you seem to have experience of the trading bots, can you tell how exactly do these work? Do I have to enter the data manually or it has some pre-determine strategy and I just have to add balance to make it work?

I am always fascinated by the idea of a bot that can make money while I sleep but it's hard to believe and find one that works.

I have used dice bots for gambling but apart from that I don't have much experience of using bots. I have heard copy trading and some say it's better than bot trading but again no idea how it works.

Absolutely do not believe in some trading bots that promise consistent profits every time you trade. from the Bot that is currently running using an API that will be integrated with the trading platform that we use, so the bot will execute with the settings that have been made before. But do we really have to trust bots? it is very risky, because some trading bots that initially provide profits, in the end, give a lot of losses. and what you need to watch out for is trading bots which turn out to be scams and will take over the assets that we have. bots are used as a temporary replacement, not to execute trades fully.

As the name suggests, it's a bot and not an AI. So everything that it's capable of is already coded inside it. It can not learn from your continuous use or it can't learn by analyzing the market.
So basically you just give it some command at what price you will enter the market (depending on the market condition, If indicates towards high then buy, if indicates towards low then sell). and exit at what certain % of profit or loss. You can set multiple assets at multiple target.
You are giving it an order and if the conditions matches then it will fulfill it automatically. Totally based on your market analyzation. You are the one controlling what the bot will do. that's it

I have used plenty of them, including gunbot and it's always the same result and same answer. If you are good trader who knows what they are doing then you could make money with bots, but if you are a newbie who has absolutely no idea how trading or bots work then you will not only fail to make profit but will lose money. As Gunthar will tell you, if people are idiots, then they are idiots and gunbot would only enhance their idiotic moves, and they should stay away from it.

Only the people who knows what they are doing could use such a product and could use it well enough that they could make a profit because they already knew what they should do, and used the bot to do it.

I believe bots are only meant to help reduce the human emotions in trade plus maybe execute a well-thought-out strategy by the trader in order to reduce on screen time for the trader. So they still have to be often monitored where possible.

I am looking forward to using bots in the future just for the above reasons. The reason I have not used a bot yet is because I feel I don't have enough technical knowledge when it comes to python and API (everything seems alien to me at the moment)

I am just learning how to code strategies on trading view using pine script. My goal next year is to probably learning Python scripting language as I continue trading.

Bots are for automation and it is really relevant and useful for those people who do know on how to use it but if not then it would really be totally pointless on doing so.Most of the common misconception specially noobs that bots are something that could help out for you to make money or profits which is really a very wrong belief to have in mind.When you are dealing with bots then you should really
know on how to make use of it and you should really make yourself aware that it does still need up some knowledge for you to make these bots useful.
Bots are useful when you are away from your pc or something in relation to this situation.

Trading bots like any tool will be as effective as the person that wields them, so an expert trader can use a trading bot to automate part or all of their strategy, but they will still have to monitor that the bot is behaving as expected and making the necessary adjustments if needed, however newbies expect that somehow the bots are going to do all the work for them and make a fortune, and we know this is not going to work no matter how much those newbies wish for this to be true.

Trading bots are like equipment been set to control the affair of an organization for profits purpose. Many traders has used trading bots to reduced so much load from their businesses, which allow them to trade different coins in the market, and have something good to achieve at the end of the market. It make the owner to face a big risk by using the trading bots, because network can make the programing not to go smoothly or if there is a challenge along the trading,it will lead to damage that will affect the trader not to receive what he or she want to achieve from the trading.

Many think of it as a money machine where it doesn't require any skills to get profit from trading, it makes sense because there are a lot of advertisements like that out there, especially for forex trading bots, even though for me bots are just a tool to help trade a little more efficiently because when we have set the appropriate with the desire and target will run automatically but success remains in our trading skills

When you heard that term for the first time, you will expect that a "bot" will just simply trade for you and will give you endless profits.  You will think that bots will help you not to lose money.

Well, trading bots really will help you trade as it can execute trades faster than a human does and it does work 24/7 but it doesn't guarantee you to give profits. Trading bots might be helpful for those traders out there while executing their trades on their own, but these bots aren't a bot that will not make you lose money. It isn't 100% profitable and there will be times that you might get lose in your trades. Anyway, trading bots are still very useful for some traders out there.

Yeah, I agree but I think there are truly bots which are pre-defined with a working strategy and all we gotta do is to push that trade button for them to work endlessly. Obviously, there is no way that they can guarantee you a secure profits. That will be an easy life for us people if there's such bots that work that way. The reason why is because the market is changing from time to time.

Sometimes it is bear and sometimes it is in bull so we also need to adjust our bots accordingly depending on the market conditions. If there's one thing that a bot can guarantee then that would be to give you a freedom as they can do most of the trading work for you.

If that's what you do for a living, I think there's nothing wrong with that. If it makes you improve yourself with trading with the use of a trading bot, why not?

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You are definitely right that you need to know a little bit about it. Bots can be a tool to improve and accelerate your learning with trading.

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I think it would depend on how you set it because if you know the limits of your personal trading, like how much loss you are willing to take, it is easily programmed in the bot.

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It's not going to be time-consuming if you are able to set it up for a moment. For sure you need to set it depending on the market condition but once you are done with that, I think it's possible to not configure it for a while.

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I agree. Continuous development is the key to adjusting to the current market conditions.

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I think it's easy to see who has an actual working bot and see that it works. Don't believe in bots that promise returns but see something that actually works and has a community behind it.

I don't really use trading bots to trade because I don't really believe in it, most people that I know that do use trading bots always endup losing money, at the beginning everything might be going well and you will be making money, but it might not last. If their are trading bots then I believe that's what everyone will be using to trade and no one will be losing money again, nobody wants to be losing money.

I always advise people, if you want to be a trader then learn to do your analysis yourself and trade by yourself, don't depend on any trading bots to help you trade, if you you want to stay long in crypto space, then learn to do things yourself and don't depend on anybody.

I tried some bots for trading, but in reality I did not get positive results, but honestly I only tried free bots, whether they are on some centralized exchanges or those that have programs installed on the desktop.
I setup everything well as recommended, but in both cases I didn't get good results as expected, I don't know why? Is it because I use free bots?

Do paid bots give good and guaranteed results? Most importantly, is it safe?

I think some of them do work and the only way to find out if they are working is by testing them with small amounts or find reviews on YouTube but even those are faked these days (ever since YT removed the dislike count).

Yeah, I mean I have been looing for years to find a bot that can automate arbitrage trading for me. I would enter my exchanges accounts and the bot can check for any price discrepancy and buy/sell accordingly but I haven't found one yet. Also it's important to make sure the code is open source because you don't want to end up getting scammed by a phishing kind of bot.

It's hard to give accurate response to what you aren't directly exposed to or using as my case would be but, what I know of AI is that, they function based on what set of data you've fed them with except in cases of malfunctions else, thy could remain accurate.
Staying accurate don't necessarily mean, you would be more on the profits as opposed to lose. There is still room for either of the outcome at any point as, some programmings are centered on cutting lose or taking profit.

One thing the bots might do for you is to put you in more trades than you would have wished for and you might find yourself cutting lose more than you make profits. That sounds like a lose to me. Bots can't substitute for humans so, I dont see it to be profitable.

It was never intended to give out positive results into your trading because bots are for automation of trades and not something that could generate profit or income into you as a user.You would really be still needing to

make out some strategies or settings on which you could really set up into your bot for it to be at least following on what you had commanded into it.People do really have that kind of misconception which is really that
very wrong because if we do speak about bots then it is really just that helpful when you are away from your pc but not totally replacing someone to make out profitable trades.
It would be still varying on how well you do make your trading decisions that you had just made out.

Well it is totally wasting of time and money, trading bot is just a tool for me and can command on behalf of you.
I will use this trading bot if I am a full-time trader but if not, does not make any sense to use. But you are right, this trading bot was not designed to make money, it was designed to help you to watch the market, and execute trades while you are not watching the market and that is how trading bots work. I also saw people here posted about trading bots that promised they will surely earn but in fact --it is not true.
If you have extra money, why not but if you don't have --this is not necessary the most important is that you have capital in trading.

That's where newbies got it wrong and I think even investors that have been long in the market, some of them think that it works like that.

They think that it will generate profit no matter what they do and it's an automated money generating software and you just have to pay for it. That's the wrong notion here, they don't know that it's still them that will decide for what the bot must do in order for them to generate profit from their trades.

I once told my friends that they use trading bots, and that is free. They say it's effective and it's been working for a few months. If it doesn't work anymore, they will try other trading bots again and do trial and error. But here, they already have skills in daily trading, analyzing the market, and also making use of these trading bots to be effective. from their story, trading bots might be really effective if the users really understand at least the three things above. Also, trading bots, especially the free ones won't work forever, because sometimes the algorithm changes too. So, each trading bot will have a different level of effectiveness. But for myself, I've tried it and it didn't work, because I really don't understand it properly and it's still trial and error but it always fails. So, I will not continue. Maybe it would be better if it was actually paid and there was a guide. And trading bots will not guarantee that we will always earn money and get profits.

Most at times trading bot are fine but are very risky ( not for beginners) to start with at least as a trader having your self knowledge and good skill on how to trade would have been more better than using bot, i actually don't encourage bot while because they have some limited command and sets of rules which they could maximally operates as bot but being a trader him or she should be active and consistent to watch over the  market maybe if the bot fails you could likely pick corrections to avoid being swiped off.
Note they are not human who reason Quantitatively rather to only their sets of command, is just like a tools to assist you whenever you are away for the moment so you don't have to be 100 percent sure of it.

The first time I heard about trading bots should be running close to 2 decades now, but they don't actually work. While the working ones might not worth it much since they will not earn much for you in the long run. There are many trading bots these days with many promises, but in the end, they tend to lose the money of the trader.

Let me categorize them as bad, ugly and good. The bad ones will start losing your money from the beginning until it ruined the account. But the good ones will preserve your account and earn for you, only that the money earned will not be much to be happy about. While the ugly ones would win for a period of time, but will later lose your money for you. It will only raise your hope but would fail you in the end.

I think this is where the missing link is between human and trading bots. Those times that the bots doesn't have the order from you on what to do when that depending on what the market does is not given, the bots doesn't have what to do. At this point the bots is usually left at the mercy of the market.

IMO you are 100% right by saying that such tools are not for beginners rather only for expert traders. Only experienced traders should go for it and they are in better position to tell whether they are worthy or not. These days AI based trading bots (https://3commas.io/?c=tc1332643) are available that can do trading like humans (not sure up to what extent they can act like humans).
I would say use them only while you are away not rely on them 100% for all of your trading. If bots can give profit then whole trading industry would be relying on them.

The main problem with trading bots is that they artificially change the trading volume, which leads to misjudgments about the awareness or popularity of a cryptocurrency. Depending on the trading platform on which the coin is listed, this effect is smaller or larger.

Im try to open your site but the cloudflare show about Error 520: Web server is returning an unknown error.

Personally I have tried trading bot from Spot to futures bot. The spot bot (I forgot about the name of the bot) do buy and sell but they take to long to get action (I Know they are wait the right moment) But in one week only 1-2 to be executed with this bot and with $100 initial capital you only get 1-3$ profit  :-X

The futures bot (Im using finandy) basically this bot do execution when there is signal from trading view and then fire up to Exchange API. but after 2 week of using this bot I'm loss 200$ and this not because the bot but because my trading view signal was not accurate enough,

this why I'm little bit sceptic about trading bot.

When using up a bot then it is really that understandable that you are really still needing to make out some tweaks or changing up some command for whatever market condition that you might faced on.
Bots cant really be having that automatic learning or something that could act on their own without having those proper settings that had been commanded out.This is one of the misconception
specially to those noobs that they are believing that this is something that could help them out on becoming profitable here on the market which is really
very wrong. You do still need to get engage on while you are using up these tools.

^ Probably because people expected that trading bots work on their own, it will make money for them without any proper setup.
But still, automated trading bots are useful for me because this will help you to monitor the market price movement when you are in AFK mode or away from the keyboard. The bot will execute your order and watch the trading position that has been set. So you must have your own strategy to set in order to respond to the trading bot. However, I did not use this bot ever since when I was in trading because it is very expensive to purchase one account, I wanted to try but I don't have a budget and now good thing there is free testing. Can I ask OP, is there any discount this season?

bot will only work the way you set them up. so for people who don't know about bots, it doesn't work on their own. you still have to set-up them up for them to work. if you are a user, it would take time before you can grasp the techniques or tips on how to work them better and if possible, profitable the way you want it. so don't expect that after you acquire a bot, you are way to your riches, because it is not.

Trading bots can be useful tools for automating certain aspects of trading, such as executing trades based on predetermined criteria. However, it is important to carefully research and select a reputable trading bot, as there are many scams and poorly-performing bots on the market. It is also important to remember that trading bots are only as good as the parameters they are programmed with, so it is essential to have a thorough understanding of the market and trading strategy before relying on a bot.

in real use beginners use trading bots more than doing manual trades with their technical knowledge. Beginners only rely on the work of bots to make trades automatically. This will be very dangerous because beginners do not have full control of what is traded. Even though trading bots also use AI it will still be at risk. No machine is perfect, all will experience errors. As a trader, you must also have control over the assets being traded.

It can't be generalized that all of them are useless and a waste of time as I believe that there are some bots that are working efficiently but not perfectly. I think you are also using one of it (Gunbot), how it does for you OP? I think you can also share it with us so people will encourage to try it.

Well, anyways, bots can only be working well depending on the trader itself. Likely, if a trader had already deep knowledge of trading he can really make a good setup on the bot that will just work according to what haven been commanded. But if you are new, you can never expect that it will become productive but rather expect failure.

absolutely right. To survive in trade, you have to learn and know everything yourself. If you are a new trader like everyone else you will want to use bots but this is very risky. Never rely on anything to trade. First make yourself adept at trading and then trade. If you don't do this and trade daily with bots, you will end up losing money which will lead to your disappointment and failure.

I will save lot of time. most public bots are scams you will end losing money.

check my thread if you are seriosly interested making money in crypto using futures bot trading

https://bitcointalk.org/index.php?topic=5431269.0

I've tried using trading bots before due to curiosity but unfortunately, I only ended up losing more so I can conclude that they aren't reliable all the time. Because of that experience, I tried my best to learn all the applicable and effective strategies in trading. Knowing the fundamentals and technical analysis is really an advantage for us to grow as traders where we don't have to rely on AIs. Beginners should focus on learning everything about trading first than relying on bots because we could make accurate and right decisions by doing manual trading.

But, how sure that you are like all the bots are based on only simple algorithm. I am sure that many bot are around here with advanced strategies which might be more than enough to crack profits still losses also possible due to market conditions. I mean that you may not be right to ignore all the bots just for the reason of being simple algorithm based.

I heard some people are making use of exchange based bots for trading but not sure about their consistent profit making chances. But, I am keen on listening any success storied on those exchange based trading bots.

From my perception in bot application, i seems bot application in trading as a programmed application, the profit you will make in bot is not of higher potential than the profit you will gain from a manual trading, i portray this because bot have a calculated measures, which is being programmed, so hoping that bot will more advantages than manual trading i think it's individual conceptions, because the profit you can earn through bot application is a limited profit.

And are those bots up for sale? Bots have been part of the stock market for decades now, so there is not much of a point on questioning their efficacy, the question is if you can buy a good bot or develop your own?

And for the most part it is impossible for most traders to do the latter, while the former is seldom an option either as someone which actually has an effective bot to trade the markets does not have any incentive to sell it as they can just trade the markets with it and make way more money than whatever they could get by selling the bot.

I haven't tried a trading bot in cryptocurrency but I tried one in forex, and I really thought that they were both the same , it will execute a buy or sell order if most of its indicators are saying buy or low, e.g., MACD and RSI will say overbought or oversold, or Fibonacci hits the zone, etc. It is automating the process than waiting all the indicators.However, you must understand the fundamentals of trading. However, most sellers only include tutorials on how to set up and deposit to a specific platform and run the bot 24/7.

However, based on my experience with bots, I would say that it is risky because most bots require a large deposit in order to avoid being liquidated or having our accounts burned. Also, it depends on the trend; for example, there are bots that work well when the market is in an uptrend; however, the market can change at any time, and if it does, then you will lose your money. 

I have seen it go further with the bots but setting it up is not easy task for non technical
population. In addition to that, you always need to keep changing the settings within bot for
various limits, stop-loss methodology and N-number of parameters to set up. I am not sure how
does it make it a bot if we are going to set up such things. These things can easily be done on
any exchanger, you have call-put options, time parameters, and the trade can go on its own.
Till date I have not seen anyone posting the pics about these bots in play. Kinda dope!

If you try to join trading groups, you will notice that some people are selling bots, flexing their profit from the trade using the bot, and demonstrating that they are profitable. These bots are usually paid one time or on a monthly basis, but the setup depends on the bot you are purchasing. For example, there are bots that have already been setup; you only need the installation setup, which is usually provided by the seller. But, once again, I am not a fan of using the bot, but those developers have impressed me with how they do it. Though doing trading manually is better for me,

Yes, those bots are already having those ready set-up but how you would consider out for those bots to be profitable if these creators or bot sellers trying to sell it out?
If you do just simply trying out to be sensible around then it is really not just right to make yourself believe that there would really be some exploits or holy grail method
on making yourself profitable on automation way or method.There's no such thing on this world could make out that kind of guarantee specially when dealing up with an unpredictable market.
You are just simply wasting off your money with these things.

Just false promises, that you can earn this much profit with our bot. Regarding gunbot, I had come across it years ago, good to see it still thriving.

I agree, I do not believe in bots for sale on social networks or telegram groups, they still work, but it is not as effective as we expect. But for some people who are programmers and they create their own bot to use, I believe it works great. I've seen a few people do that, and of course, they never sell it or share it with anyone. In that case, I would do the same, when something gets too popular it won't work either. Like good traders, they never brag, but trader impersonators love to sell signals and open trading teaching groups.

Trading bots are configured to trade like their creator based on certain perimeters say if a 50 moving average crosses the 200 moving average that signals an entry and the alike but these are bound to fail because market conditions are always changing and the never adjust to them unfortunately. But the best alternative to this would be copy trading as this is usually based on good analysis and only copies the entries and exists a trade as the master account automatically.

Very true and the only reason these guys still manage to sell these bots is because they back test on already printed candles which makes these bots look like they work, but when it comes to the real markets they fail terribly.

Profits is used for marketing but in reality there's no really passive earning we can get since this can use to automate our trade profit is not included because we are the one who set it. But there are some traders use this since this is somehow helpful but for newbies thinking about becoming rich on this well maybe this is not for them because maybe they will dislike the result on their bought trading bots.

Robots are usually created as substitutes for humans. In this age of mechanization, many human jobs are now done by robots. People are now receiving services in various ways with artificial intelligence. It is now very effective in trading as well. Robots powered by artificial intelligence have the potential to be used universally. Through this robot it is now possible to trade more volume in less time. What is almost impossible manually can easily be done with artificial intelligence. The main task of this robot is to follow the trading chart and use its intelligence to extract profit. All these things, from finding a deal to buying and selling, are done without the intervention of a trader. No need to analyze. No need to read the news.

There are some advantages using trading bots.  It will trade itself 24 hours a day. It works in a fixed system so rules are never broken. There are numerous settings that can be managed through the settings themselves. Ability to perform data analysis in very short time. Any new trader with basic knowledge can earn with this method. Dealing with a specific currency results in very low trading losses. But there are some disadvantages with it. A robot cannot normally work in more than one currency. So if you want to set up a robot in multiple currencies, you need to purchase a robot for each currency.
In robot trading, you do not have the opportunity to trade, so the robot will lose the trade by making a mistake in the formula. If it can be used correctly, users would be profitable.

Not necessarily have to try using them but I think we need to do so just to see what really happens and what this bot can do for us traders.
Many opinions arise that they are not working, maybe they are because a trader fails to do good as well. But never I encourage people to try from not a trusted site, better know it first and, of course, make sure that you are ready enough and knows how to use them otherwise, it is totally a waste of time either.

I am not used to trading by trading bots but I have heard that trading bots are able to complete an accurate trade. And a bot can work several times faster than humans so it protects a trader from big losses . Now various exchanges are also launching their own trading bots.  For example kucoin has trading bots on their exchange by which a user can trade with the help of that bot . But I personally am not used to trading by trading bots and I don't have much experience in it

Trading bots served important purpose for traders in the space. Trading bots are accurate but they come with fees, they're not free. Sometimes they failed to take profits when the TP is triggered in a trading position. Bots don't fixed the error they omit and they're program machine which served the purpose of the moderators of  trading exchange. Kucoin trading bots is accessible and easy to place trades, they have their certain targets for the day and also make fewer losses over the week. Although ivet not try trading with bots but with the proper knowledge, it's simple to grab profits.

Trading bot is very useful if you already know a trading strategy that works. For example like arbitrage, which need to be executed fast and constant monitoring of markets. The arbitrage chance is very few and hard to come by especially within the same exchange, so some will do cross exchanges arbitrage, which is more tedious, because one need to move funds around. In this case bot is certainly needed. A human is not possible to monitor the markets 24/7.

Another better strategy is to trade the perpetual future spread difference across different exchanges, also call "spread trading", where one trade a perpetual futures pair between two exchanges and profit from the convergence and divergence (or widening and narrowing) of the spread. Example: When the spread is widening, one will short on Exchange A and long on Exchange B at the same time. One will then wait until the spread is narrowing and exit the positions by doing the reverse operations, thereby profiting from the spread. You actually don't have directional risk here.

This is a complex strategy, you need to take into consideration for the funding rate as well not to mention you need to calculate the price fast, have very fast fingers ready to click long & short on both exchanges and high concentration at all time. So, having a bot actually help me a lot trading with this strategy.

Cheers.

This is their preferred business. To create a bot and then sell a copy of it for public use so marketing is important for them so that their bots can be reached out by many people. Now, given that bots can automate our trading strategies then they really can provide us a passive profits because we can just leave them running in the background.

You can even make money by using them while you are sleeping but of course that is if our personal trading strategy that we set inside the bot is also effective. The trading bot providers must only be transparent and tell the truth that bots like this can't do a magic so that newbies will not hope too much on them.

On someone who do sell out those bots and making out some assurance then it is really something deceiving since it cant just possible on having this way.There's no way that bots could assure out profits.
It is really just indeed for automation but there are people who are really  that expecting something like this which is totally absurd.Its true that mostly newbies or noobs on this trading world are the ones
who do have this kind of belief on mind but sooner or later they would really be able to realize on whats the truth because this isnt how it works.
Bots are for automation and not something that could bring up profits without doing any effort.

Trading bots must be paid to use.  There are no free bots available.  And if free trading bot is available somewhere then it will not work accurately.  So using it is not believed to be very useful for prediction . So trading bots are mostly used by those who have the most funds to trade and buy bot subscriptions. But on the other hand many people don't use bots despite having enough funds.  They prefer to trade manually with trading signals from paid channels

Those experienced traders won't really use bots, but those newbies who are just starting their trading journey are more likely to try this since they want to take a shortcut to earn immediately, but again, the results are not good. As far as I can tell, there are only free trials for bots so that the buyer can see if it works, and if it does,they will then need to pay for a monthly subscription or a one-time purchase.

There are only a few people using trading signals who are experts; mostly, they will be checking the analysis of other traders and trying to confirm it with their own ideas, but most of my friends only rely on themselves when they trade, and I too am influenced by the predictions of my friends.

I know some of my friends who are all into both self trading and bot trading. It is kind of diversification in their view as results from cryptocurrency trading is not always same. As per overall performances by manual and bot trading, some of my friends shared like they are able to end up a month in profits which helps them to live out of cryptocurrency trading.

Unlike most other markets in this planet, crypto markets are having long bear market which could be the reason why manual traders are not successful yearly basis. When it is all about balancing your trades across different market conditions then I guess going for bot trading along with your usual trading will help somehow in my opinion as well.

Trading bots won't guarantee you a profitable transaction every time; otherwise, everyone would be using them. Additionally, you shouldn't let your guard down when employing trading bots because you never know when they'll result in a significant loss for you. Additionally, a trader who overly relies on bots may lose the enjoyment of trading and become a trader who stagnates or shrinks. Bots are useful, but you should avoid growing too accustomed to them.

That's because there are some adjustments that we have to make to follow market movements. And usually, once we've made our adjustments, we leave the bot to do what we want. But unfortunately, the market will not go our way and will move on, and that's where we need to readjust the bot.

Traders using bots might benefit, but I don't know how long they can use them. I suggest learning more about trading analysis skills because if we can analyze properly, we can profit, regardless of market conditions.

Bots cant make out those adjustments which means that you are the ones who would really be the ones to make out adjustments which is something that you must do.
If you are just trying out to make use of the same bot settings then you would really be losing out a particular trade or you would really be having negatives.
Some people do really just believe that trading bots could give out guaranteed positive results which is not.

Therefore,you shouldnt really think that this do really work on this way.Bots are for automation and you ant something able to entrust 100%
on your capital.

And that means we still have to pay attention to the market and immediately replace or change the adjustments in the bot if the market reverses. This is not an automated process that we want because there is still something we need to do and if so it is better to trade manually than using bots. Settings in the bot can only work when market conditions are going well, but as we are experiencing right now, the market can change direction quickly without us realizing it. If we are late changing the adjustments, we can lose opportunities and lose money. And that is why if you don't have any skills in trading, you should start learning and try trading to improve your analytical skills.

Having the power of a robot is a key factor in making a profit in this method. You still need to be a great trader just like everyone else said, but you need to realize that 7/24 trading power gives you a lot of chances.

Someone who knows how to trade can check the charts for only so long, yet someone who teaches their robot to trade, they could have 100+ pairs all checking a possibility of a trade for 7/24 forever? That would give you power beyond measure. Of course if you are a moron then you will have a bot that is 7/24 a moron and that would hurt you lol. I am not using exactly because of this, because I never trusted myself to be a great trader, I rather keep holding.

I dislike bot, using bot for trading is like stress for me, the way I'm seeing it from my way of understanding, bot i do hear some people say of the advantages of using bot app, but the way i do see bot application, nothing serious or advantages that will come into bot application, so instead bot application do consume  funds through the rechargable fees, so people i know do complain of the subscription of the bot,  so it's discourage able to me.

That is the usual reason I heard from most traders, they are not interested in these bots as they are not comfortable using them. For now, I haven't heard any that proves how trading bots work and how it efficient it is, otherwise most assumptions are right.

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I'd see that most of us have no experience in bots and this is because it was not clear to everyone the help it gives to us, especially for pro-traders.

When it comes to the markets there is nothing that can guarantee you that you are going to obtain profits with every single trade that you make, and if there is someone out there making those kind of promises then you know they are a scammer.

The main advantage that a bot offers is their ability to trade 24/7 all days of the week without any rest while implementing your strategy exactly as it was coded, and this advantage while it may seem small is very powerful, because if you coded a good strategy into your bot it can literally make you money while you sleep.

why are there bots? because there are still many who don't believe in their abilities, so bots are used to be able to provide assistance. Logically, the maker of a bot system, if it's really good, why not just run it alone. why release it to the market, because they themselves also do not believe in it but hope to benefit from using it.
agree with you buddy, I also don't like bots because they don't hone skills that we might be able to use, but once again it all depends on each individual and no one can prohibit it but only to encourage it.

I dont believe that this is the reason because bots are created on making things to be automated and its not that people doesnt trust up their skills or believe on their abilities because its not really something
that would really be patching up those lacking things because it was never intended for that in the first place.Just like others been saying that it is for automation which it would really be that relevant for someone
who do really make use of it just to make things even more simpler and convenient.It is really just that there are people who are really that having that wrong belief or mindset that these bots could
bring out or generate some profits which is really a wrong common misconception with these bots.You would be still needing up that skills and knowledge towards trading for you to be able to efficiently use
of these bots.

A newbie in trading or crypto sees or expects a trading bot as a money making machine where you set it up and will make a profit automatically. Not thinking, if that was the case then a lot of people who came into the crypto world earlier compared to them should have become wealthy by now. Not a fan of trading bot, if I'm a person which is too lazy in trading, i'll do copy trading instead. Atleast I can see the winning percentage of the trader.

Many newbies believed they could earn quick money by simply trading their money in the market or trusting in a signal from someone stating they could become wealthy by trading at them after receiving incorrect information about how cryptocurrency could change their lives. They must recognize that they are coping with unforeseeable events, therefore we must stay focused and compile all the essential information to be better equipped to trade coins on the market. They shouldn't feel at peace studying the fundamentals because, as you pointed out, even experienced traders lose all of their money as a result of bad decisions they make.

Bots are not some kind of magic wands that can magically let the money roll into your account. Bots are great tools with good traders. Without trader's knowledge and experience bots cant do anything. It has quite significant advantages some of them are:

Time: I don't need to sit down in front of the screen and look for opportunities. I mean since bots are on the market all the time, it catches the opportunities that I might miss.

Execution speed: Since it does the execution according to its algorithm, it executes way faster than doing manually.

Emotional Discipline: As most newbies when I first started trading, I ended up losing many times then I realized It was mostly because I was lack of emotional discipline. Traders tend to act greedy, panic, or with ego. That was one of the main reasons why I started automated trading.

So I think bots are worth it. It works for me at least. Tools on their own can’t do anything but help. The platform you will be using for creating your bots is also crucial.

Humans have thoughts that can generate profits in an easy way. even though they have found a way to make money, they will continue to grow to try to have an easier way to make a profit. one of them with the work done by robots. but I can't be sure the robot can make you generate profits according to what you want. sometimes all things go wrong.

I have never tried it. Once I attempted to set it up on Binance but changed my mind.
They say I should just keep up to date with the happenings, then do some settings and I could go on vacation knowing that the bots will make me money. Hell no. Maybe I am not too comfortable yet with letting a bit make trading decisions for me. I am yet to be convinced that they can make as much money as human traders can.
But to think of it, do they make losses too?

Well, according to what I have seen from the experiences of friends, the use of bots has not gone very well for them, let's say, their experience has been very bad and I think they do not recommend it either, and it is something very true if one as a trader gets to give everything to a bot it is very easy for the bot to consume the balance that it has to lose and not get results, even though the algorithm is very good I think that one as a human being should give the bot the most detailed instructions possible, if there is Bots that do everything as advertised on some sites is something that is not recommended, because I have seen how some people leave them bankrupt.

And you are right on your reasoning, it is common for some traders to see bots as the solution to their problems and that they only need to activate one and watch their account get richer by the day.

But things are never that simple, you need to make sure the strategy you have implemented is correct and there are no bugs, and even then you still need to supervise that the bot does not make some sort of mistake, as it could be the case of the bot not closing an open position and then lose money that it was not supposed to lose, and in that respect your misgivings about bots are not misplaced.

Bots can make us feel more at ease and save us time checking and monitoring the chart; however, the question is whether they are profitable. You are also correct in that you must monitor it because there will be time that bot will make mistakes. I usually write scripts for my daily tasks at work because I find them repetitive and boring, and I code them myself, but when it comes to trading, this is not a good solution because I need flexibility, which is why I don't use or rely on bots. It is better to trade manually as you can learn more every day in the market.

I'm skeptical regards trading bots, because if they were profitable, every traders could just acquire the top notch bot available in the market, set it up, and earn passive income from the bot's work. It's not what happens for real, though. And in fact it would be impossible, as they are only bots and not seers. As forum members have related, from the accessibility and interactivity point of views, bots are great, but they don't guarantee profit, and in this case I think it's the most important aspect they fail in achieving.

Trading Bots are just trading tools coupled together using some indicators or using a trading strategy made by some professional traders in order to help some traders who don't have much of time to Analyze the market or read chart patterns etc. There are some bots that works well while some are not good. I have once or twice traded with bots before , but I may consider using trading bots again due to time saving.

A common sense thing on which if they are really indeed working then we cant or see a market which is operating today because every trader is really that profiting into those movements.Who would be those sellers and buyers if both things are been holding with their positions just because the bot are really setting up on the same command on where it is been set? There would be no such movement  and this is why its
really that dumb to believe into something which isnt really that realistic. It is really just a common misconception about bots where they do believe that it is really that money making or profitable
which it isnt really that true.

Nothing guarantees profit anyway, so if you want to test it out and the only thing that keeps you away from it is the fact that you are not entirely sure if you are going to make money with it or not, then you should give it a go.

However, the reality is that "will I be able to use it" is a much bigger trouble, because I have seen a million people who fail to use it properly and their stupidity becomes 7/24 thanks to the bot they are using. This is why most people should not use, only the very greats should because their awesome trading becomes 7/24 instead. The guaranteed profit thing will not be real in any way or shape so it's better to not really look at anything else.

A trading bot is generally an application by which a trader can make his trading activity easy and profitable. If a trader does not have a good idea about trading, then using that bot in trading can be exposed to loss rather than benefit. Everything that a trader is unable to do manually can be done in seconds with the help of a bot. A trader should know well about bots before using them. If the trader can use bots if they understand the market conditions and expectations and risk factors well, then it can bring good results.

A trader should also have a good understanding of his application. A free application should never be used for such purposes. This will increase the amount of risk and even there is a good chance of losing his money in the future.

People talk a big deal about trading bots. But we know that trading bots are just bots. They are programmed and cannot replace experienced traders. They cannot make intelligent decisions as they are purported. Because if they can actually make 10x profits then most people would just turn to them. One other point is that trading bots are not for newbies. It doesn't stop one from learning about trading because to set it up requires some level of skill. For now though, I stay away from it.

Newbies are the ones who do easily fall out with these kind of claims on which they do really tend to believe that these bots could help them out on making profitable trades which is really very wrong.Just like on

what you had said and others here that bot is just bot which is for automation of trades and it would be still relying on traders decisions and settings that they would really be putting into those bots.

While you are really that away then these bots are the ones would be executing actions basing up on what you had put into.People should really not make themselves believe which
arent true at all.

Dear OP i like trading bots, As in thr sideways movement of the market trading bots play a profitable role. Bots are good but cant be trusted 100% i can see some exchanges trading bots are fully optimized but ou need to be careful in digital world a small bug can lead to a major loss anyways I'm sure reputed exchanges always use tenets for such product launches and you can feel safe with them. In high volatility Bots are useless.

for those who have tried trading bots and profited it might be good to use them.
But beginners still need someone who can immediately make the right adjustments from using the bot.
I've used it myself, but not sure if I'm doing it right. but I'm not comfortable using it. and more interested in trading normally. maybe using copy trading appeals more to me.

I am not satisfied with your argument dear if you know just simple resistance and support levels on the daily chart then there is a no more simple way to trade then AI trading or grid bot trading. Yes, results are slow but results are always positive. So even a newbie can trade with the Bots if he simply knows Support and Resistance levels one thing i would like to add he should also need to be famaliar with how to use the bot.

One more thing I wanna add is bots can be used only when you are going out somewhere and can't see the market. Bots are no way human replacement and should be used accordingly. If bots are that much intelligent then whole world would be super rich by now using Bots only. Since AI based bots are rolling out in the market we need sometime to check there result.

In my personal opinion, bots are not profitable, I have friends who have had a very bad time buying bots that trade on binance, and one who got into a big porblame where he owes up to $200k and that is something that is still bad, he has not been able to pay, in fact he has sold his house, farms, car, and he still lacks money, so he has not been able to do much because there are many who still owe him money.

So the bots don't have any impact, I think that AI is a way to do it, although I haven't been able to find it on the web or in a service that does something like this, it would be good to try, because technology is good to take advantage of for everything.

You could build a signals bot that detects possible profitable trades instead of one that trades automatically, in a way it would be a very similar bot as it would have to do everything that a trading bot will need to do.

The only difference is that instead of using the exchange API and generate a trade order a signals bot could send you an email which is linked to your smartphone and you could receive an alert coming from it, then you could watch the market in question and see if there is in fact a profitable trading opportunity waiting for you, and if this is the case then you could open a position by yourself.

Any trading bots that promise you that you will make profit are actually fake and most likely trying to scam/lure you. Don't "buy" those trading bots. You don't even know what those bots are capable of. They can end up swiping your whole computer!

There are legit trading bots, but don't expect those bots to do everything for you. They will follow the strategy you provide them with, but you will have to supervise and keep on updating the bots. The only thing bots help you do is automate the trade for you which you only need to update every few minutes to hours instead of constantly looking at the screen.

This is true, if a trading bot owner tells you that you are going to make profit for sure, 100% guaranteed that you will be profiting, then they are selling you a lie. Those legit trading bots and their sellers will always tell you that there is a chance to lose money, or a chance to buy something that won't go up for a long time, basically make a bad trade, they do try to keep that into minimum, and they may claim that they are the one that has that as little as possible and best at that, but they will tell you that it could happen.

This is why it's already wide open to me that if it could make a loss, so could I, and why would I need it to begin with. I like my own investments more.

Indeed! I clearly remember that someone who sell me a bot that is linked to my binance account, he said let your bot make a trade for you and you don't need to do anything you will get a profit since he was using this bot as well in futures, but then when I check , his bot only using cross and 75x yes the bot is working but not actually accurate, you just need to have a larger margin.

The truth is that the people who have used bots to train have not done well at all, they have not been profitable, they are things that happen that are very difficult to do, it is not fulfilled, quite the opposite, I know of a case where they sold robots commercials to trade on binance, and you only had to have money there, and the robot did everything, it had the power to do everything the bot wanted, what I found out is that everyone who purchased the bot lost all their money and the person who brought them the bot or offered it came out as a scammer, so the people who fell are currently demanding that they pay them the money they invested.

Trading bots are very accurate interms of trading in the market. It's some kind of signal that gives names of the coins to buy either using futures or spot. But most trading bots uses futures trade, which gives the leverage depending on your account size, it's very dependable when you're busy with work and need something that will open the trade and close it for you even when you're not online. Although it have it's disadvantages because you can be using bots for years and don't even know how to use TA and FA which still proofs that one is still a newbie in the space.

In school kids are not allowed to use calculators in Math exams (in initial grades) just to make them proficient in using there brain to do calculations and figure out the answer. As students move to high grades they are allowed to use calculator in Math exam. Likewise, novice traders should not go for aids like 'Trading Bots' as they are meant for experienced traders only. If you start using Trading Bots from your initial days of trading then you wont be able to learn the art of trading.
Moreover, every trader has its own strategy which a Bot cant use. There is a brain behind every successful trader not a 'Bot', so try to use your own brain instead. These aids should only be used in minimal.

I have make some emphasis on this thread before if I'm not mistaken, i believe that bot kind of trading is waste of time and also waste of resources, because bot is a designed programmed machine, and most of them have a subscription terms and conditions, so i believe that seriously, so it's encouraging or encourageable for someone to learn all the necessary implication that will lead someone into the negative side of trading, so trading needs to know the necessary rudiments, so it's better to perform trading manually than using bot application.

Bot application isnt really bad because it was really that intended for automation and not for some money making on which other people is really been thinking.They do really have that wrong approach within these
bots which are actually have other main purpose which isnt to assure profits but rather give out some convenience into those people who had been trading specially on times that they are away from their devices or computers.It is really just that people do have that kind of wrong mindset and believe that it could bring out some assured profits which is really very wrong and not possible.
You are still needing for yourself to be that making settings into those bots to be that effective or efficient.

trading using bots has indeed been designed systematically by the creators, but the weakness of using bots is that bots do not have the psychology to trade in certain situations and conditions. unless we already understand trading as a whole, and bots are only used as trading assistants, instead of completely surrendering trading to him, because of course there will be big losses when extraordinary events occur, and only human psychology can minimize losses at that time

Yes , trading bots are profitable as long as you can identify them correctly,  cryptohopper remains one of the best automated bot trading as you can you can manage all crypto account exchange in one place and also allows you trade altcoins. Like every other trade experience and proper guidelines is expected to make successful trades so as to make profits.

Yes that's right, it's better to avoid trading bots, because to be honest it won't make us more for than what they say. Maybe indeed for some trades they give profit, but not every trade right? if that is true, then i think people will switch to using trading bots. It would be better if we independently analyzed the market, it would give us a lot of experience, moreover by analyzing ourselves we are required to continue learning and that will increase our knowledge.

I disagree. There are strategies that work.
True, they are usually written by traders

Here is my trading bot. who trades. Deals are posted here.
You can check

https://t.me/botforyoumoney (https://t.me/botforyoumoney)

I am tired of the hype around trading bots. They are so much that you can even tell it will too much work to get it to run effectively. In addition, despite the so called gurus saying that it will run smoothly and that it will not require any technically knowledge, I doubt it. I have followed most these YouTubers to try to use ChatGPT to give me a trading script that works but all to no avail. The best bet is still to keep using the manual human method which is tested and trusted.

Do you know the reason while i dont encourage a novice in trading not to desperately use trading bot to trade, because i find out that bot those not have accurate stake in and especially for day trading and nothing like specific amount you can earn. and secondly it requires a subscription before you can as well use the application, so the subscription doesn't have any advantages from my perspective or point of views. So it's better to learn trading and understand the rudiments of trading before you can as well apply using bot measure.

People are getting lazy right now. Most of those experienced traders are now learning how to make a bot so that they can automate their strategy and run it even if they are not checking the chart. This kind of bot is really good to implement, and not those you need to buy it. I haven't tried to make my own bot to automate my trading, but now that it has changed my mind, I want to try one that I will make from scratch. Though on those subscriptions type of bot, I don't know how they work, but for sure, your strategy won't be used on them.

Bot application is the methods whereby someone that doesn't have knowledge of trading can easily adopt the option of trading with bot application. So from my perspective i will narrate that bot have its own ways of operational system, because they have different functions depending on the one you come across. A good trader can not be likely to embrace the system of trading with bot application, unless that it have make a research and noticed the possible advantages of the bot application it intend to use.

I have never used bots, but it is not profitable, in fact, in my personal opinion I believe much more in groups of signals than in a bot, of course this is my criteria because a bot only has programming.

From every point of view, there are people who completely believe in bots, and if they are told that they are AI, even more so, although many traders are very surprised when they are told about AI, an AI is only in beta phase, it is like a baby , I am surprised that there is already an AI and not a quantum computer, I thought I would see a quantum PC first before an AI, this is the pace that the world is taking, for now AIs this is what is most fashionable right now.

Market do changed up everytime and anytime which means that if you do make use of a bot then you should really be knowledgeable on tweaking those settings and would put up according on the current trend and movement you are dealing with.This is the importance on having a knowledge and not really just putting those bots on work and do nothing.It wouldnt really be resulting to be positive
most of the time because if it does then its true on what you had said that everyone would be doing on bot trading and just let it sit and run and make money on easiest way as possible.
This is why its not really that recommendable for you to heavily rely on it or having those common wrong impressions and beliefs about it.

the effectiveness of trading bots depends on a variety of factors, including the quality of the trading strategy, the accuracy of the algorithms used to execute trades, and the ability of the bot to adapt to changing market conditions. While some traders have reported success using trading bots, others have experienced losses and other issues.
and i really wondering if bot vs bot which one will lose and which one will win, or there will be no winner.