Bitcoin Forum

Is using a bot feasible?

I'm not expecting automatic doubling of my money every second week, but what about a constant profit of 3-5% per month.

Taking into consideration the volatility of the altcoins, this should be mathematically achievable (trough martingale or some other system).

I'm a big fan of Gunbot.  I've been using it for a little over a week and getting about 1-2% a day on the funds I'm using for trading.  I wrote my review here: https://bitcointalk.org/index.php?topic=1715214.msg21142041#msg21142041

The Gunbot Announcement is here: https://bitcointalk.org/index.php?topic=1715214.0
Official Forum: https://gunthy.org/index.php

It's not a magic bullet.  There is a small learning curve and I do manage it everyday, but I'm really enjoying the experience.  I'm still only trading on about 10% of my crypto balance but I'll soon be giving Gunbot access to my entire exchange portfolio.

It's all about how you manage your bot. Test it first on a few different coins. You need to keep an eye on it and change currencies when needed. You can try one like Trendatron, that just scalps in a bullish market. If you stay on top of it you can easily get 3% a day. There is also a new verson, not really a bot, https://www.enigma.co/catalyst/#/getstarted I used this review list of bots to test out a few https://cryptotrader.org/topics/285821/premium-bots-a-hopefully-unbiased-view-and-some-tips

Try BitConnect before you try any of these trading bots.

Bitconnect is such a polarized topic on these forums, and although I'm not certain they're legit I do have a little bit of coin 'invested' there.  To call it a trading bot though is a misconception; they're value proposition is that they take your investment and multiply it by their own trading bot.  Purchasing a bot has a few major benifits:

• Gunbot is a one time purchase; it's yours to use as long as you with
• You have full control over the logic and tuning
• Don't have to worry about someone running away with your investment

Thank you all.

Stable 3% per day seem too good to be truth (that would make 1,000$ in 48,482,724$ just for an year :))

What about the skills required to manage the bot?

Do I need to have specific experience or technical abilities?

Yes, I've personally seen them at pay but the problem is any thing you set up isn't always going to work absolutely. At least, I haven't seen this working to date. We are working on a project to bring an Algo to the population though which can be used a TOOL to help a day / swing / really any trader based on the stats they plug in. I'll keep the community here posted. Cheers!

is the gunbot the best one? or do you prefer any other bots? i want to buy a bot too, but i have not been able to declde yet. thanks for your help.

I read your review about Gunbot! We see that you have faced some issue at the beginning but now you making some progress ;)

You're wise to be skeptical; anything that sounds too good to be true normally is.  I've only been using Gunbot for 12-days now so I'm giving you a very small sample of the profits.  I haven't set it loose on all my portfolio yet to minimize the risk, but what it has been trading has been solid.  I made about 11% profit in a week for what it's worth.

But here's the deal... my bot traded traded like mad yesterday but has stalled now because everything traded away from BTC since BTC spiked yesterday.  So I've only had 4-trades today compared to over nearly 20 the prior days.  Now I'm waiting for the market to stabilize so my bot can start trading again.  I'm still researching how to handle a sudden spike in BTC or ETH.

I've used bots for other types of trading, I'd say it takes a lot of trial and error and constant adjustments before gaining a good margin. You can't just start a bot and start making huge margins

do not need any special skills I think enough with your experience and your lucky luck in order to get big profits.

Don't bother with bots, if they could give you a clean 1% even per day, you're looking at over 7% per week which is huge. If that was the case the bot would be selling for a lot of money.

I think there are trading bot actually and most of them may be belong to the exchange platform, I can some small but active bills and it seems they also there, no rest, I think it is sure to be profitable, but I do not know how much.

If you do ask for a bot which you believe can give constant profits then it doesnt really exist since you would still need to set up it according to your knowledge and desired commands. Most trading bots are free or even given by the platform already but these are just tools to automate your trades not on just relying your trade and the bot would do the rest.

I don't know what to say for those who are saying bots aren't profitable.  I'm not saying you'll be a trillionaire in a few days using it, but they do generate profits, or at least Gunbot does.  If bots didn't work, then why is nearly 90% of the US stock market traded via bots?

https://www.cnbc.com/2017/06/13/death-of-the-human-investor-just-10-percent-of-trading-is-regular-stock-picking-jpmorgan-estimates.html

Although I'm a firm believer in a trading bot, I'm still a believer in the 'buy-and-hold' hold strategy on healthy coins.  My goal with my bot is to generate profits to put them into BTC, ETH, Dash... with a little in OMG and Onion for long term investment.

I also read that many users are pleased with the results of gunbot. But the premise of a good working bot are properly working services. At the moment there seem to be doubts on leading exchangers.

Like maeusi said. I'm one of those that used Gunbot, and recommend Gunbot, but Poloniex being Poloniex will eat most alive. I never made my coins back using Gunbot because I don't trust Poloniex's stability anymore. Only expect maybe 0.1% per day in profits (still a lot), because bag holding will be the biggest problem. You might get lucky every other day or so and hit 10-30% for that day, but overall average is still a decent trickle.

I don't know any profitable bot on trading.But I can recommend you a coin working on this, Coindash. It aims to become a good investment management tool for crypto currency .
Its alpha version is usable, you can download it from its official website.

there must be pros and cons. but honestly i do not like bot. I prefer to analyze myself and use my own feeling in trading.
there may be some here who prefer to use the bot and also have benefited from using the bot.

There isn't.  If someone can supply one , I can pay for to use it.

When I look at a trading bot I am not looking for one that has a preset system. I am looking for one that could be configured to a high amount of accuracy. So another words when I use a trading bot I'm using it as an extension of my own trading strategy. The only one that I know out there that I would trust at this moment is GunBot from Pollo.

I haven't looked at it very much because of the fees, but obviously it comes from a company that's got a decent history. If you have any coding experience at all I would put in the time to creating your own using an API rather than grabbing one from somebody else. When a coin is released on here we usually get open source, but a lot of software like trading Bots don't seem to produce open-source so I wouldn't want to trust it with my finances.

does anyone know if there is a free github bot for bittrex for very simple ping-pong like strategy like buythis coin at x price and sell at y, then start again?

I have used gunbot for months and can say that it is very difficult to make consistent profits. Yes I had days where I made 10% but the number of days that I lost 20% far outweigh it.

There is a serious learning curve. You have to constantly baby sit it, a stop loss has only now been added but the current software has not been finalized.

He does rolling releases meaning that there are constantly new versions with new bugs.

The documentation of the bugs is not centralized so unless you know what the bugs are and how to "get around" them you will have trouble

If Gunbot were easy to use they would not be upselling gunbot university to "teach" you how to trade

You will be sitting on bags for a long time

There are lot's of used gunbot's for sale

But after all this complaining.. It is a good value because it is a one time payment. He has added a dev to make a decent gui
He is responsive to the community to make changes........ although it took way to long for a stop loss
Ping Pong will make you some money if you watch it

If you can pick good coins buy and hold will make you way more BTC

I would also be very interested in a trading bot for bittrex. Are there any?
I think gunbot just works for poloniex, am  I right?

For me personally, trading is a job that takes a lot of time in order to get a lot of profit. one of which is that we can easily monitor all the things that work, but if we use trading with the boot it is definitely done is silent. Indeed the benefits of booting are helping us to speed up the work, BUT this will not be useful for trading. Because trading does take a lot of time to think and if we use the boot I'm sure and sure to get is a defeat.

No gunbot works for Bittrex, Polo, Kraken and Cryptopia. You buy a license for whichever exchange you want. There are used ones for sale which makes no difference because you still get all updates and it is a lifetime license which makes it a great deal. He is also working on adding more exchanges

Find used ones here https://gunthy.org/index.php/board,4.0.html?PHPSESSID=emcqa1239uihpuh0c8v39ti8a2 (https://gunthy.org/index.php/board,4.0.html?PHPSESSID=emcqa1239uihpuh0c8v39ti8a2)

Be sure to use gunthar as an escrow so you don't get robbed

I've used in the past Cryptotrader.org (https://cryptotrader.org/) that offers plenty of trading bots, created by users for users. These trading bots are based on an algorithm which offers the best strategy, for multiple coins or for a particular cryptocurrency. Besides of this, you can also check the bot's profitability on the current market and coin thanks to the open backlogs. The costs aren't that high if you are willing to put some Bitcoin in your exchange account.