Bitcoin Forum

Lot of AI trading bots in the market make some money and then tank your money. As a rule regardless of if you are a human or AI, 95% of the human and AI will loose when they try to execute short term trades.

What really works is long term investment and how AI trading bot can make that process easy is something that needs attention.

Using an AI trading bot to create your crypto portfolio and manage it on a long time frame for 4-5 years has sort of been effective.

• With my full time job and family I don't have to keep learning about crypto and track market conditions.
• AI trading bot can scan, back test and create an optimized crypto portfolio with leading coins.
• If you are a beginner, it can help you find good cryptocurrencies and long term strategies to start your investment journey.

I have created a platform to use AI but for crypto portfolio creation and long-term crypto portfolio management. Do share your thoughts on this long term focused AI trading bot and it's pre-built crypto portfolios.

Website- https://botsfolio.com/
Pre-built crypto portfolios- https://botsfolio.com/crypto-portfolios

Investing is too easy. All that I have to do is to set the price that I want the coin to be bought on an exchange. If it is noncustodial wallet, I can see the price alert so that anytime the coin get to the price I wish to invest, I can get the alarm notification and move my coin from noncustodial wallet. Or I can buy the coin with fiat. I am lazy while investing because I have just little work to do for the investment. I call it passive income.

So why not for investment?


Can the bot invest for you on noncustodial wallet? I think the answer to this would be NO.

It's true that bot is active doing lots of work but for trading I still do not encourage anyone to use it or even though one must use it it shouldn't be on a long time target other while open on a long their could be lose and it would be good for one to invest directly as bot can't make a good investment decisions became he can't filter which project is to be scam or not.

It will be a huge mistake to stop learning because learning on a subject should never stop even after you think that you have gained enough knowledge. There is always something new that you could learn to your improvement. When it comes to trading, learning and improving yourself should never be substituted for use of AI. AI can be disappointing in the future after you have increased your dependency on it to a level where you can no longer do without it. It is important to keep track with market conditions.

If you are a newbie in trading using a bot doesn't help you make a profit without trading skills you can't set the bot properly that will make you a profit it needs some knowledge about testing strategies on the backtesting tool until you find a good strategy. Once you gain a good strategy you can apply it to the bot with risk management it works in the long term but still depends on your trading setup and you need to keep it optimized until you find a sweet spot.

However, we don't know yet how safe this bot is I tried to apply the free one but it looks like it asks for exchange APIs, for now, we can't trust a bot that asks for APIs and I think there are free trading bot we can use for free like Gekko and Zenbot since it was tested by some developers it is way safer than using this bot that I never heard before.

Lot of people with their develop bots and most of the bot aren't just for trading but a kind of tools to have remote control over someone trading account, even though this bot isn't going to ask for subscription I wouldn't still advise people to go use it because we can't be sure of what would happen if probably being applied to start monitoring trades. However I never give chance to use bot to trade instead prefer holding bitcoin and doing some kind of gambling with some altcoin for short periods and take quick profits but then one has to be smart enough to have good cash out.

Can you share the performance of this bot then, maybe with the different strategies or different 'types' of AI setup? I like the idea, but AI is actually more difficult with long-term portfolios because you constantly need to feed the settings.

It just seems much easier to manually do them, and keep the only automaton on exit and entry.

What I really need is AI to help alert you on long term trades to suggest or fix trailing stops when relevant events are coming (in case you forget).

Using autopilot or trading bot will not be effective in crypto trading, how effective AI trading in short term? long time it will never good work because market condition is changing consistently so i don't think AI can track it on time. If it works properly then no one wasting their time to learn trading, if you have no enough time to learn trading, i think you should not start trading.

Can you share a bit more about the AI model and its backtesting methodology?
Do users have the ability to customize the pre-built portfolios or create their own based on risk tolerance or specific interests?
How does the bot handle risk management strategies like stop-loss orders and portfolio rebalancing?

I don't rely on bots when it comes to trading because in crypto world research also matters a lot and unfortunately no AI or trading bot can research for you and thus in end you'll always lose money.

Let's say if a bot like yours might made a portfolio in 2021 and added that Luna into it as a good coin then surely most of the ones who might have used that bot would've lost their portfolio within a week when Luna crashed.

That's more than enough reason for someone to not consider your bot, and that reason is ore than enough for me as well to not even think about using such bots.

Trading is risky and if people are doing their trades blindly without knowledge, it is more risky. Trading with bots, copy trade scripts because someone else told you that it is profitable, is risky. Because if you lack of either knowledge or experience or both, you are trading blindly and it's similar to gambling.

I would like to note that something is wrong with OP. Trading is not for long term and it's not like long term trading portfolio is wrong too. Trading in my opinion is for short term and if you want to go long term, it's investment.

In addition, with trading you will have to reshuffle your portfolio with time to adjust it with latest changes in the market and project developments or shortcomings.

Having some live situation going for the bot and seeing how it works would be ok, that way you can sell more of these.

But stop saying AI about everything, it is not, it's machine learning at best, or just some hardcoded systems at the worst case, nothing more, it is not AI, it is not an intelligence, never has been, never will be, well maybe it will be one day but that's long time to go and nothing for now.

I think it's clear that this has nothing different form the bots we had so far and we will not have anything different by getting this.

I have used bots for a long time, not for long time each, I use them very short period, like a few months every time I get a new one, to see how it works and not just about results but about the system behind it, and if I enjoy it and it can do what I want it to do then I keep using it, but if I dislike it then I stop using it all together. I am sure that I used over half a dozen bots so far, and I bet this has nothing different in it.

AI ​​and trading bots summarize the time that will be spent on the trading screen, but your thoughts are what will earn you the money. Otherwise, it is a development of traditional fraud, which promises you guaranteed profit and zero efforts.

Even if you don't use AI bot to trade but you can get the lowest price when you buy Bitcoin, you will be safe and you can determine you can close your trade. Using AI trading bot must know how to operate the bot so you can command the bot to trade and enter to the market and when you should close your trading.

Maybe I will try your bot later as I already sign up in your website and check the inside of my dashboard. I tried to use $25 at first to see how it will work. I don't want to use too big money especially if that is new thing for me so $25 is the amount that I can willing to lose if I do not have luck using your bot. If that is work, I think that can give a solution for people to use the bot and make money from trading with the bot. Time will tell.

It is better to practice your own market before using AI trading bot. AI trading bots connect with experienced traders. As these experienced traders execute trades be it opening or closing positions identical strategies are automatically replicated to your account, AI trading bots in cryptocurrencies can significantly reduce research efforts for beginners, making you lose the need to constantly watch the market. Often the volatility of the trading bot market means rapid changes can lead to potential losses if you don't have good trading skills.

If say Luna was added to the portfolio, it won't be 100% weighted in the portfolio. Say, if Luna had 5% weight in the portfolio, the rest 95% would have surely covered the loss. There is no single coin portfolio except BTC. Check the pre-built portfolios https://botsfolio.com/crypto-portfolios

We believe AI is a key advancement in the evolution of feature trading, enabling smarter portfolio optimization.

If you’re already using bots, AI can take your strategy to the next level by optimizing your portfolio, pinpointing the best entry points, and sharpening your PnL.

AI will see what the logic of making profit is, which is buy low and sell high, will buy something, and wait until it goes up and sell, it's that simple. That doesn't mean that it will make profits constantly, it may buy something that goes down, in that case it will just wait until it's in profit or if you put a stop order in then do that, it's literally nothing you can't do.

These type of "bots" has never been a good thing, it is going to cause a lot of trouble for people to keep doing these, and I think it should be something that will take a while if we are not careful. I believe that we could make so much money if we just ignore these bots and not give our freedom to them and keep learning how to trade ourselves.

Kudos to you, the successful journey doesn't start better than this, it's all about the quality content/activity you add to it and I look forward to viewing your website often to know its worth over time and might even work with you if possible depending on your preparedness and expertise. However, bots/AI are no longer my thing in the trading and investing world, the manual way is key and I have long years of experience to back that up. I've known the bots trading for almost 20 years but they all have the same results which I can summarily classify into three categories;

1. Those that win much for you but would lose the profit and your capital back afterwards.
2  Those that lose all your money for you flawlessly.
3. Those that will lose and gain for you to the point that you will not know what you are trading for after a long period as the profit will not be worth the time and investment.

I agree with that. Bots are amazingly good at carrying out technical operations directly, but experience has shown that they cannot analyze complex correlations and/or recognize graphic patterns (cup and handle, ...) in a chart - or only very poorly ... let alone react to current news situations.

I expect to see an improvement in pattern recognition with AI-supported bots. However, processing real-time news and deciding to buy/sell on the basis of this news is not (currently) possible with AI either. However, this is a decisive factor for a long-term crypto portfolio.

If what you are saying is true that investing is only easy, then no one will lose anymore and then those who know what they are doing can only earn more easily. This can also allow them to earn more than usual.

I actually think of the opposite because I think there are bots who are already pre-configured with algorithms or methods and we will only need to push the start button in order for us to get started and of course we must ensure that we already have an account on the exchange that that bot supports and then we already loaded it with enough balances.

Some says that AI trading bots might be risky and unreliable, so I think it's also best to just rely on our own skills and knowledge. Of course, I don't mean as a starter but we need to study the market and everything that is related to it first and familiarize ourselves to them before we get started. Even with enough experience, I won't say that there is a safe spot in Bitcoin knowing that the coin is highly unstable. It is also unpredictable, so there is no guarantees that after we buy at the lows the price won't drop even further. In fact there are already countless times that the price drop more after the other.