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Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

3rd party trading bots? What do you mean working because all trading bots will work based on the setup you made on it. But if you mean passive profit using a programmed trading bot by random guy will surely scam/hoax. There’s no such thing as working trading bot that will give you consistent profit.

Trading bot on exchange are all working base on your setup as I frequently using it for DCA and range trading whenever the price is on sideways. What trading bot you are describing here?

Maybe he/she do talks about those already set-up bots that could be seen neither on exchange platform or something that we can see ex. gunbot  but in overall which newbies do really have that kind of
impression and believe that these things could really make them money passively on which they would really be just simply running it and then wait for profits.  :D

@OP, trading bots are for automation of your trades on which this could really be bringing out that convenience specially if you do love on executing your own methods and analysis
on certain price conditions without needing to have to look at your monitor most of the times. To save yourself from this then this is where trading bots do sets in, it do
really bring outs that convenience specially if you do really know on how to make use of it. Its not something that could assure out money making things
which i do highly believe that this is where newbies do mostly believe on.

I do not use bots to trade because I do not see any need for it. But because I do not use bots to trade, that does not mean I do not know about it. As milewilda has said already, trading bots are used to automate trading process, in a way you do not have to be monitoring the screen all the time. You can also use it in buying more coins at a specific time or when the asset you are buying has decreased to certain price.

All the automated orders used in future market is enough for me. I can DCA manually. I have not seen a reason to use a bot. But if you are interested, there are some trading bots on OKX. You can try some out and see how they work. You can also build your own trading bot.

Using bots does joty mean you are a good trader. It does not also mean you can not still open a position and lose, but it can make trading process to be easier.

Which type of trading bots you are talking about, there are a few things that need to be clear before giving feedback, are you using Bots on the CEX, or using them on DEX, are you using the Bot feature provided by the platform or are you are integrating some king of 3rd party?

I can elaborate on things if you provide a set of proper details you want, In simple yes they work, at least for me they worked very well as far as I have used them, specifically, Bots are designed for special types of market situations as Etremly Volatile market and consolidating market. Also if you are thinking of trading with bots in a short time frame its highly possible you are making a mistake.

Yes they exist and work,
Do they last? No they don't
Are they always accurate? Sometimes they are and other times they don't, there's no reliability in using them.

If using a trading bot is what we can see from other angle that it's not 100% effective, they cost us money and yet are not that reliable for maximum profitability as the results we would ever wanted to have, so if you think you want a long lasting and reliable trading experience, learn how to trade and be knowledgeable.

Not using this trading bot is certainly still pros and cons there are always those who say it's good or bad which obviously this comes back to yourself.

Now many exchanges provide trading bots or maybe you try it?

Don't have much experience so I can't comment more.

At times they work and give you profits, but in most of it, they are certainly not reliable so we can’t guarantee that using them will definitely make our trades easier and be more susceptible to profits. Trading bots are just robots who only follow whatever our command is, so the success or failure of our trades will never depend on them, but on the traders who use those trading bots.

Honestly, trading bots work but when it asks if it is profitable, that will depend on the trader who uses it. Why? Trading bots is only reliant on the user and you can't expect to work alone without command, and if you don't have knowledge in trading, therefore, never expect that it will work effectively but fail.
I'd rather suggest you not to use bots if you are still learning trading as it won't bring you to success instead, work on yourself and carry the risk alone. As long as you have ample time to trade, you can be a great trader like others but if you rely on bots, I don't think so.

I was tempted to use trading bots but it never reaches towards my high expectation on it so I end up trusting my own knowledge and experience in trading because that is more reliable than trusting my trades into a robot. Note that trading is always a battle of minds and emotions, and if you think you’re not capable to manage your emotions and increase your trading resources, then do your own diligence to learn all by yourself but never resort into using trading bots because they are not worthy of our funds.

Yes it works and depends on what BOT you are using.
I’ve tried this before in trading and I can say that its fine as long as you set it up properly.
The pros is you are trading even if you are busy, and they also have the default setting which I think can also be profitable. The only cons that they have is that its not cheap, and you have to find a good BOT to trust with.

I don't use bots but I have read reviews and what some friends have said about trading with it and most of the challenges mentioned above are exactly what it is. I have had some friends complained of bots after making some profit, the next day they lose money than the previous profit made and eating into the capital. The challenge that bot also have is that you also need to monitor it from time to time but maybe not like manual trading. This is contrary to people's believe that it is not monitored but if you don't after a while some bots may do reverse trading.

It maybe useful if you are lazy people and want to set up your trades according to your target. But if you have more time to watch every trades you do then I guess its just a waste of money for availing that trading bots. But if you mean just like what other say that it provide profit since someone offering you that you can gain a passive income if you invest with the bots they set then as always that is a scam.

I am not using it but got to see how they work and if you're in an exchange where most features like setting up your buy/sell manually, they're just like automating it and not that much of a change.

If you're a busy person and you think that you really need it then give yourself a go.

Remember that they don't work for you to make a profit but they're just there to setup things that are manually done by the trader and it's still your decision to profit will take you to profiting.

By saying "do they work", are you referring to generating an income scheme?

Technically, trading bots work based on how they were set up. They will "almost" perfectly execute a given command once the triggering point happens in the market. There are also features where bots will automatically execute the best possible move at any given market behavior or signals since we know traders do have different strategies at different trends.

Personally, I'm not using a trading bot but saw it before on a close friend of mine who has been a trading enthusiast for several years now. Although he's expertise is more on trading stocks, the idea should be the same if applied to crypto-trading.

Basically I have never used this kind of trading bot so can't say with much certainty how successful it will be. But users can benefit a lot by using it but only people who have good knowledge about it can earn money. Achieving profit using such bot trading strategies requires good knowledge and good intentions. If you are not knowledgeable about the trending then you will never profit from trading like this but fail. If you want to profit from trading then never take such decisions, rather take good advice so that you don't get ted by bots. You should never rely on trading by bots as you will never be successful. So you always take the advice of a wise and successful trader so you can profit and make money by trading.

Yes, they are working, but that doesn't mean that if it is working, you are earning profit from it because others are just milking you some money when you purchase it, but others are working completely. Most of the bots are used to automate your trading strategy, meaning you don't need to check your chart from time to time to see an entry, it is doing the process for you. However, there are bots that you can purchase online that already have a strategy on them. This is where most of the traders got scammed, or even tried them out, but it is not working for them.

It is not really recommended to have a trading bot if you are new and just learning trading because you won't understand it. It is better to do the traditional one because you still don't have any trading strategies to apply to the bot.

They don’t work. If they really worked then they wouldn’t be for sale. Why not just run it yourself instead of selling it for cheap. Doesn’t make sense.

They either work in demo which can’t be replicated with live trading and doesn’t account for liquidity or slippage. Or they basically worked in a specific time in the past and eventually when markets change they will stop working. Now we are mostly range trading and if conditions change such as we start a bear or bull market then those bots won’t work anymore.

I use a selfmade bot. And it works. But does it give me constant profit? No.
"do they work" means for me: the bot runs most of time following a strategy I implemented.
My bot is not a necessary tool for me. All what it does, can be done by myself. It just reflects my own trading activities.

Pros: the bot runs without emotions 24/7.
Cons: the bot runs without emotions 24/7  ;D

btw: I agree with others: I would never use a bot with a working strategy sold somewhere. No one sells bots giving constant profits.
Selling profitable bots does not make sense. Better invest your money in adopting your own strategy. Bots are not necessary to be successful and often they
lead to scam or at least they take your money without significant revenue. But personally I like to have a bot, just to adopt some rules and see if they work or not. That's my risk and my fun.

Some bots are really working that you can gain profit from your trades. If you use bot in trading, you don't have to spend time to analyze the market to be able to trade, the bot will do it for you. Trading bot has no emotion since most traders fail because of their emotions. So if you are having a hard time to control your emotions, this is good for you — I think these are the pros. The cons of using bot is that you can't guarantee that in the long run you will become profitable since bot rely only on the program not on the market movement.

I don’t use trading bots, but from the look of things, they work sometimes and generate profits for the user, but based on how professionally you are, it is how you set it up that will make it work for you, which means if you are able to set it up well and you know how to use it, it will work for you effectively, but that doesn’t mean you won't lose because even those who use their brains still lose. I believe using bots will also cause you to lose, but it will be limited. And again, trading bots can never be used by beginners who just join trading because they will lack the knowledge of how they will work for them effectively, which will cause them to lose their funds. And trading bots can also malfunction sometimes, so I think while using them, the user should be careful.

They work as they are intended to work, how they are programmed to work. They are not made to make you rich in the click of a button, if that was the case, people would not be working their rear off but buying a bot.

Plug in whatever indicators you want to run and the bot will trade as you have asked it too, meaning it will follow your commands "loyally" but this and a guaranteed profit are two different thing. You might want to brush up on your own trading skills before trying to automate it with the help of a bot.

Remember the phrase - you are only automating your trades through the bot.

Yes, that's right, the results of the work of the trading bot also return to us personally who set it up, if we are a trader who can be said to be quite good at knowledge in trading then the trading bot system can certainly provide something that is at least close to our expectations such as daily or monthly targets maybe. But yes this is quite interesting to make an alternative, because traders do not have to always be in the market to trade but they can simply set the system in the bot according to their wishes and they can go after setting it up. I think this is quite beneficial to save their time.

Well that's true too, for those beginners who have just come in should not choose the trading bot option, besides they do not have deep knowledge in trading I think they also will not know what a trading bot is and how to operate it, so this is like slowing down their development, it is better for you to learn according to your plan and gradually about everything here. Don't touch trading bots yet because you will only get confused when you see them. But yes you are right, even though it looks like it is very helpful but still professional traders must be careful because the name of the system can be unexpectedly erroneous.

If it's a bot that could guide you for newbies in some exchanges its pros and cons is probably the accuracy as if it gives a right and wrong results. Use bots if you have enough knowledge to set it up on how you trade but doesn't mean it would always gives you profit. But if it's a third party bot that you need to install saying that it could give you passive profits, for sure it's a scam. Some of them would literally give you profits for starters but in the long run it would ask for you money as subscription for you to extend the bot service. By simply this reason it would be better to rely on your brain and intuition rather than an AI.

Pros: You can teach the bot what you know. It will work based on an algorithm so there will be no human error although if you don't make any mistakes while setting up the program. It can save your time, and work 24/7 if you program it like that. It is automated so it will only take a few maintenance every now and then. You won't have to sit and work all the time. Because the bot will do it for you.

Cons: It is programmable and you need to program it. If you don't know how to do it, then it's not the best choice for you. As I mentioned in the pros, if you make mistakes while programming it, it will act according to that making that mistake. If you are unable to program it, then you can not use it. And if you use other bots not made by you, there's always a chance that it may not work properly and could be a scam. Lastly, as it will work 24/7 or based on your scheduled time, in that time, the market could change and you may need to change your strategy. But the bot will continue to do the same work with the previous strategy which may not work thus making you a loss.

So there are more cons than pros to trading bots.

But they do work. It depends on how you program it. If you know what you are doing, then it will work. Otherwise, you are better off without it.

Well, I am not an active user of trading bots but I did some research on it. Basically, trading bots are used for the purpose that a person can't look at the screen every time and look at the balance, and for that, he uses trading bots for it. Here are some pros and cons of trading bots is below.

Pros.
Trading bots can automate the trading process which can save time and reduce human errors.
It can speed up the trades which will be beneficial in the volatile market.
Trading bots analyze the market and according to it push the trades that make more profits than humans.
The boys are available for 24 hours which is also profitable.

Cons.
The bots are complex and without any technical information, you can't set it up.
Bots are more risky than humans.
Bots depend on correct market data if a small change occurs then it may not work properly.
The bots are making more mistakes which can lead to loss of your money.

Trading bots are a good tool but if you are using it then be aware of its risk and also DYOR for finding the best bots that have a good track record, because it is very risky to use it.

Yes, it would really be entirely be depending on how someone do able to set it up. There are bots which are already set-up and its just really that ready for you to make use. Then lets say that you would really be
tending to use one but you dont have the knowledge on what it is or what are the corresponding methods that its been using? So it would really be pointless for you to make use if you dont have the idea on what it is.
The most common impression for noobs that trading bots are things that could bring some money or would automatically that brings profits without doing something.Yes, it could but it would be still affected by several main factors on which it would really be that affected by volatility of course just like on manual trades.This is really just that you are executing those trading system on automated way and it does really still required or need up that someones knowledge about on what are the things that he would really be needing to set up for the bot to follow according into those instructions that had been set. Newbie does have different approach on trading
bots on which they do really believe that it could really make things easier for them to make money buts it not really how the reality works.

Trading bots are actually working but if ask if they can be reliable and sustainable, I don’t think they are. They are just robots that uses a computer program which at some point work, and fail on the other hand. So it’s  actually not perfect when it comes to trading performance that’s why most of the professional traders still chose to trade using their own experience and skills in trading, at least they can lessen the risk somehow, and can expect bigger assurance of a successful trading.

remember that nothing man-made is perfect including trading bots, i have used trading bots several times but have stopped using them because before that i felt dependent on these trading bots, even though my emotions were good when using trading bots but the trading results were not satisfactory for me, trading based on your own will indeed take a lot of time, but when you get through every problem in trading one by one, you will never depend on other people especially trading bots.

Trading bots are working and I think not smarter than human, and only a few traders are probably using them. Trading bots will become popular if it has been proven beyond reasonable doubt that they are the best at conducting and concluding successful and profitable trades. We have a lot of traders but few observations about traders, I can say that the number of traders using bots is very minimal. There was this bot I tried to use on Kucoin last year that can help you do the DCA strategy and can also sell. Depending on the price, you can set it to buy or sell. Well, that could only help in those aspects because you can just automate it and relax while the bot assists you in buying and selling. But when referring to real trading, where you have to analyze the market before buying and also know when to sell, I don't think bot is better than traders.

Too many people sell these bots, which means that too many of them will say that it works, but they do have a thing out of it and that is why they say it. It is obvious that a salesman will always say that their product is the greatest or they may even undersell it to make you want it even more, things like "I know a lot of people who made a ton of money from it and got rich, but there were silly people who lost as well, I do not know which one you will be" type of thing, I have seen it, I have made it to be fair.

So that is why the true answer is that unless you are some amazing trader then you aren't making a profit from this. Just stay away from it as much as you possibly could and then the return will be better.

Well, I am no longer using trading bots but I've used it before, and I don't know what the experiences of other users were, but honestly, it was a nice experience for me, I still find me trading for myself more profitable for me than using bots..

I understand that some programmers can build trading bots for themselves which they are customize to their own test, but I am not a programer, so I had to depend on bots built by the exchange I was trading on themselves, that was kucoin, I used the bot for a couple of weeks, made some profits , also made loses, but at the end of like 2 months of using the bot for trading, I sat down to calculate all my profit and loses, and I realized that I've lost more than I've gained, I just had to turn off the bot and stop using it.

Trading bots never guarantee you profit, trading with the help of trading bots may give you profit for a short period of time but trading bots never guarantee you profit for all time. In the case of trading, the bot usually works on a specific system, outside of the specific system it will never be able to do anything on its own, so it is better not to directly rely on the trading bot. 
When the trading bot brings you profit once, you will be more dependent on the trading bot, as a result of which later you will trade the bot with more money, but at that time it will be seen that you have lost a lot of money by trading. 

The best thing is to depend on yourself instead of depending on trading bots, that is, try to gain experience in trading yourself. Hope your experience will bring you profit.

Trading bots are a good option especially for those who do not know how to trade. Helpful for those who are new to the market. To trade you must know the entry point and exit point. You should know about charts. Knowing about indicators and tools is essential. Then you will know when to enter the market and when to exit the market.

You don't need all these things in trading bots, that's why trading bots are becoming more and more popular, because it makes it easy for newbies. Trading bots play a great role especially in crypto currencies where prices tend to move sideways. That is, the price moves up and down between a certain low point and a certain high point. .here grid bot trading is very profitable. Even if the price of crypto currency is increasing continuously, if you do grid bot trading, you can get good profit.However, you should choose a crypto currency that is moving up and down within a certain range.

Trading bots may actually work but it cannot give you guarantees consistent profitability. Because if they do, then people would not be selling these bots anymore as they could have gained more advantage on it if they will use them personally. However, the reality is successful trading does not rely on these automated trading bots. It’s on the trader’s abilities and skills that made the trades becoming more promising to succeed and make decent profits.

Why are people always running after the use of trading bot then, is it that they are never been aware of the risk that involves in using it or maybe they feels too lazy to start to learn about trading when the trading bot could actually perform the tasks for them, am not sure if it actually pays considering the rate you buy the trading bit and the duration it worked for you before you realized it's no more effective.

Trading success is never measured on how you rely most often to trading bots or other trading signals group, because in reality your only self is the one reliable to make you successful. Professional traders have work hard to make them well experienced and well skilled in trading, and not because they have to rely for any automated trading bots. Though they work at times, but I don’t see them worth our time and money.

It was never been made for that kind of purpose or intent, it is really just that on peoples mind and impression on why trading bots does have that kind of reputation or something that really attached

out with that kind of belief that this is something that could bring out some sure profits but of course these kind of mindset do came from into those newbies or who do have recently jumped into this market on where they arent really that minding about the real deal about on things specially on a speculative market where prices could shoot up or down randomly. Trading bots are simply the tools
which you could really make use to automate your trading indicators or analysis which would trigger out basing on the settings that you had inputted. If you dont have the idea on how these bots
should be run or its settings then it would be pointless on making use of it.

People specially those noobs should really be removing the idea that these tools could bring them easy profits or sure money.This isnt how the reality works which you would really be still needing your
skills and knowledge for you to be set-up on those commands that would be inputted on a bot so that whenever it do hit up that particular condition then it would really be moving its own
automatically which it is really that less hassle i should say.

Trading bots work. If they didn't these big centralized exchanges won't incorporate it into their system. Binance have a trading bot and others.
Trading bots is not for everyone. You must be an experienced trader and know your way around it. Bots are just machines and like other machines, they lack the trader psychology. If I were to choose between trading bots and copy trading, I'll choose copy trading for obvious reasons.

The results matter on your capabilities as well. Even some users will say "that" it works with them but can't be sure that it works on your side knowing that it is programmable and you are the one who does or might hire someone. And the question is if you are capable enough. If not, you better help yourself to learn more by not relying upon others, as your experience will be your asset and a tool for your success, not these trading bots.

But, in order for you to have an idea of what is trading bots are all about, I encourage you to just try and evaluate results. Then that was the time you could tell by yourself.

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

Trading bit is just a perfect definition to saying that i don't have time to learn how to trade and i want a bot to do that for me while a sit down and make money from it without much cause for alarm, if this had been the real and actual fate of using a trading bot then i see no reason why everyone into trading will not embark in using one, i can see that some people have once make use of a bot and later see there's no profit in it before changing their decision to doing it all alone, now they will have to start all over, let's try as much as possible to see that we know things for real and do them by ourselves without depending on someone or something in doing them for us because nothing of such will last long except we are the source to doing it.

I've used it once, utilizing the Binance API for the purpose. It's possible that each bot operates differently, but I'll attempt to elucidate the bot I once employed.

So, there was an individual who claimed to be a cryptocurrency expert. This person had a technique for copy trading that's somewhat intricate to explain. In essence, they sold a trading bot, promising profits, which, in reality, merely copied trades from a master account held by the bot's seller.

I purchased this bot and experimented with it using a modest sum. The trading history on my Binance account indeed confirmed that when I wasn't actively monitoring the screen, several buy and sell transactions occurred, resulting in minimal profit margins. If aggregated, I could potentially achieve daily gains of only +1% to +3%.

For specific reasons, I decided to discontinue my subscription to the bot. One of my concerns was the potential vulnerability of my balance to unexpected breaches when depositing larger sums.

The bot functions effectively, but as an asset owner, I fear undesirable occurrences in the future.

Yes that's right, trading bots can indeed help but I will say that it will not be completely helpful, every system created by humans must have times when there are errors and other disturbances and obviously it is very likely to eliminate your balance with a blink of an eye without you realizing it. And also besides that maybe I will say that it is only for people who are lazy, do not want to learn and process like traders in general. Trading bots can be an option but it is only for certain times, such as for example you have to keep looking for daily targets but you don't have time to do it because maybe there are other needs, well then you can use it, and I think that's the real use for trading bots.

Because honestly I'm worried that people, especially novice traders, they can feel at ease in their trading activities with this bot, although it may be true that they will not fully know how to run this bot but maybe they will do various ways to learn the bot and that can make them not interested in learning the real science of trading because with only bots they can also benefit there, and indirectly they have made themselves not develop because of that wrong mindset. I think that's not a good option and it's better for them to do it themselves even though it's quite difficult, but you have to believe that you can.

There is nothing wrong in taking short cut if we really know what we are doing and how to position our trades. There is nothing wrong using bots to trade if the bot is absolutely profitable but it is compulsory for how to know how to trade so that we can predict the market along the way. There are bots that is very profitable if we know how to position our trades and utilize the bot to trade in the direction that we have programed the market to go. There are bots that giveore reasonable profits than qw ourselves trading in the market if we don't trade in the direction of the market.

You are right, @Sanitough; I don't even believe that any professional trader is relying on trading bots or signal channels; it's usually newbies or beginners that are mostly relying on those bots, which doesn't guarantee a very successful trade. In fact, trading signal groups are full of scams, and whoever is relying on them wouldn't waste time blowing their account. Well, I think there are just some bots that the trader can automate to automatically buy and sell coins at the price that they have set. That can be a bit helpful in the sense that you don't need to stay up monitoring the market manually, but the bot can buy low (as you've set it) and sell high (as you've set it too), which can be done repeatedly.

Using bot doesnt mean that it would be profitable which this is really always the main misconception of people on which it is really that very wrong on having this kind of belief.Trading bots are tools which it do automates out

those trading methods or analysis on which means that it could always be in line with someones knowledge about trading. Some though have already set up which you could make use but if you do have that zero knowledge on what it is, then it would really be pointless or useless if you dont have that kind of knowledge and this is why that personal awareness and learning would really be that relevant when it comes to this. Those things do work? Yes it does but it wont really be making out assurance that those things will really ensure profitability and just like been said that this do only automates trades and not something that makes guarantees.

You would really be changing up these impressions on the time that you would really be able to have that actual experience on how this market works and how these trading bots would really be that
relevant on your trading path or career. You would be finding that it would be useful if you are a type of trader who dont really love on spending your time in front of your pc.

Trading bots can be trusted at some point since they aim to give its users the best result possible. However, since the market is way too unpredictable because of its high volatility, even trading bots cannot give us guarantee that it can correctly predict the market future’s behavior. That is the reason why it’s always safer to trade using our own understanding and skills with crypto trading, and not to rely on third party trading bots as they can’t simply be like a human intellect.

If it is a free trading bot, you should not expect too much to consistently get profits after setting up the trading bots. Because whatever is free, it is likely that it will not work 100% and consistently in the future. Maybe it will work several times, but of course with settings and also our astuteness in reading the market and its potential.

However, if it is a paid one and has good capabilities and is reputable, there is a possibility that these trading bots will help you effectively. However, this is just help, it doesn't mean you can let him do 100% of your trading work. Setting trading bots also requires knowledge, but before that, you also need to have the basics of trading in crypto well and wisely, including various risk management and funding. In this case, it cannot be 100% certain whether paid trading bots will really effectively and efficiently help your work. But at least, it will be better than the free one. It's just a matter of how you can optimize it, with a few notes, and that doesn't mean this is an easy thing to take profits from.

It depends and I think everyone will agree with me saying that, I believe that bots work depending on how efficient and competent the person that will program the bot will, think of scientific calculator, at the hands of a normal student, they will only be able to access functions that is easily presented on that calculator but if that calculator is on the hands of say a mathematician or an engineer, they will be able to use the most out of it because they know the ways to use it and how to navigate the other functions so it's the same thing with bots.

It is possible to make profit using trading bots, but in most cases we can see that the possibility of loss is high. Many exchanges have such bot systems and people benefit from trading from there. however, if you are a wise person then never use bots to trade like this, rather you use your knowledge. A wise person will never adopt such strategies, rather he will adopt his own strategies so that he can become a better successful trader in the future. That's why I think I will never use a trading bot because there is a lot of difficulty because we will not have the knowledge when we trade elsewhere and there is a possibility of losing our money. If we trade at the expense of our own knowledge and skills in the field of advantage, we will surely gain advantage in the future without any difficulty.

They do not work, so there is barely anyone using them as they had to discover firsthand that was the case, but for anyone that uses their common sense it is not difficult to understand why they cannot work, at least the ones being offered for sale.

If you had a money printing machine that you could use legally would you share it with anyone else? I know I wont and I am sure I am not alone on this, so no one will ever share a working trading bot which can make profits regardless of any information you may read about this online.

I have heard the idea of bot as a computer program that has understood the nature of the market and will therefore not fail to deliver profits. But in a real sense that is not what bots stand for. I thinks bots were developed to aid humans in trading, such that when you have mastered your strategies over time and trusted them, you may decide to write a computer program of your trusted strategy to keep trading for you for the few time you will be off the screen.
But many people have misunderstood this and employed bots for outright trading business even when the people behind the bot don't know how to trade. If you are doing this, losses are inevitable. I am speaking from experience. For you to profit with both, you must understand the market and how to maneuver the bot

Bots only work if they use a historical pricing model, which almost none do because you need special code to process the data volumes, even if you find one which is what I use you still have to maintain the exchange connectors, the data feeds, monitor which pairs are the most profitable, move balances between pairs, it’s a job but it you get it right fully worthwhile.

This is what newbie do really believe on on which they do really sees those bots are really the ones who do help out on making profits to those people who do make use of them which it is really that very wrong kind

of approach on which bots are really for automation just like on what most people been saying about.It do really just turns out that there were people who are really that believing into those false information
until they would really be able to prove out for themselves on whats the reality of it.  Trading bots do really give that convenience for those who are really making use of it and just like me
on which it do really loves to make use of trading bot because it do really follows on what you are setting into those commands.

You could freely go out and wont really be checking your trading open positions because the bot is doing that for you and thats why
it is really that a great convenience for these tools to be created because of such function.

As far as I know, there are many ways that everyone involved in the crypto market wants to trade, one of which is trading bots or often called trading robots, in fact the bot method has advantages and disadvantages in the trading bot method.

I have done the trading bot feature, but the results I did were much better with the spot, margin and futures methods, but of the three features the one that was more profitable for me was spot, the first comparison of trading bots: The bot feature is more expensive than spot, and in my opinion bots are not suitable for use in the crypto market, because as far as I know the crypto market moves fluctuatingly, where crypto price changes from the upward and downward side are based on graphical movements, bots do not work well and if users use trading bots they must have skills and be professional, especially for beginners, this is very risky.

For this reason, trading bots are not as easy as we imagine, there are frequencies that must be understood before doing it to achieve maximum results, otherwise it will bring losses to those who use the bot feature.

And that is the correct way to use a bot, newbies believe they can simply buy a piece of code, run it and enjoy the profits, but such a simple bot cannot exist, as if it did then the person selling such bot will be giving away the opportunity to make millions just to make a few dollars.

So anyone that wants a bot to trade on their place needs to learn how to trade on their own, they also need to learn how to code and finally they need to express their strategy in such a way that the computer is able to take the same decisions they would have taken, not an easy task if you ask me.

Looking for a trading bot to trade with? Why trading bots? Why would you use it when you can trade without having to pay? Unlike the trading bot, you have to pay just to use it. Then another thing I know is that it's better to use copy trading compared to that dude.

Have you tried or heard of copy trading? You can do research or find out on Google Search if you want. I hope you don't waste your money on the trading bot; even though it's your money, it's just a reminder to me.

But believe me, it is better to do spot trading, especially if you are a beginner in this industry. This is a better practice than a trading bot.

As someone who uses a lot of open source (and 100% free) software both privately and professionally, I have to strongly disagree here. There are also enough examples from real life where open source and freely available software works much better than paid versions.

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Regarding the question of the OP ... you can't expect a trading bot to magically start making money for you. A trading bot executes your given strategy, if it is bad, the results will be bad too. If your strategy works well in a certain scenario, the trading bot will also work well.

I definitely don't use a trading bots because I tried it once before and unfortunately I learned that it didn't really provide profits. Although there are various trading bots and each of them is of better quality than the others unfortunately it isn't possible to say that none of them work perfectly. The trading bot I used made many erroneous transactions, entering SL and TP orders at values ​​like 0.02% causing many positions to be closed immediately when opened and most importantly it was trading between stable cryptocurrency pairs in case the transaction volume increased between them. In addition, during certain periods these trading bots were opening reverse transactions due to the transaction volume in many cryptocurrency pairs which caused losses for no reason. So, I definitely don't prefer using trading bots because many trading bots don't work stably and can be easily deceived. Also, I don't recommend it.

Finally, although the option may vary depending on the preferred trading bot such algorithms generally request permission to perform various transactions on your exchange account. In other words, considering that there are various possibilities such as transferring the balance in your wallet to another wallet even though it doesn't appear in the permission list. There is also the risk of losing the entire capital with the aim of capital growth. Although this isn't the case for every trading bot any damage that may occur due to different reasons will be reflected on the user at the end of the day. In summary, for me making money using a trading bot is a very risky thing and it is a method that carries the risk of losing 30 cents in order to make 3 cents of money. (The amount is written for example purposes.)

The issue is that people keep thinking trading like a machine would work but the market is an emotional thing that a machine will never be able to learn. Like if Biden goes out and says bitcoin is awesome tomorrow, a machine can't comprehend that, and the price may skyrocket to double its price when it shouldn't just because he said that, a bot would never be able to understand it. That's a big example of course but that's what I wanted to provide a proof that everyone can understand.

Smaller things happens of course, smaller news, but how could a trading bot would understand Elon tweeting about doge would make it go up, that's not understandable for a bot. Market is emotional and software do not have emotions.

Absolutely, none of the trading bots can perform transactions by following the news and detect the importance of the names in the news content. For example, if the scenario in your message occurs all the trading bot can do is evaluate possible price movements and enter a transaction order after the rise&volume increase. Of course, since this is generally the working logic of the trading bot's algorithm it will be possible to enter a similar transaction order in case of price changes that may occur due to volatility.

In another scenario shown as an example, the best transaction bot can do is enter transaction orders by following the words. Again, in this case the words in the fake tweets will again mislead the algorithm and the trading bot will make a mistake and cause the user to lose money. People can think logically and emotionally, but unfortunately algorithm or AI can only calculate statistics and probabilities. This is the most obvious difference between trading bots and individuals following the news. Finally, I would like to end my comment with a word;

Without our soul, we are just machines.

I've got an idea. Somewhere there should be a bot which is instantly buying DOGE each time Elon Musk is tweeting something about cryptocurrencies.
100% win rate guaranteed.


Trading bots are not a source of free money. People still need to conduct market research to make the proper settings and control if they are still valid.

Why didn't you even state whether you utilize a trading bot? The majority of people are aware that the trading bot is not profitable; the only individuals who use it are those who want to make money through trading but do not wish to engage in actual cryptocurrency trading.

According to my own observations, copy trading, AI trading, and trading bots are all the same; they're just used for the actual trades. This is because it seems like the platform is paying someone else to perform the work we should be doing, so we just pass the work along to them.

It would really just follow on the command or settings on what the trader had set up on which it is really that not that smart on trying out to adjust whenever there's a market news which it would really be the main disadvantage when you do make use of a bot and leaving it there compared when you are really that making some manual trades on which you could really be able to make out some adjustments if you wanted to.
I agree on some words that most people would really be having that kind of impression towards trading bot that this is something that makes them really be able to make profits without doing anything which it is really that a main wrong misconception by many specially to those noobs who doesnt really have the idea on what they are really that doing. You cant really make yourself that profitable even using up a trading bot because the market could really be able to move on a random manner and this is why i do always prefer on manual trades on which you could really make some adjustments if ever there are sudden news but if there's none
then you can leave the bot running and doing its job.It does really make things even more easier i should say.

I am not an active user of trading bots. But I used it quite often a year ago. But I only use trading bots provided by the exchange itself. Like on Binance there is a trading bot feature called Grid. I've also tried some third-party bots. But I think it's not much different from the bot provided by Binance. So I would advise anyone to avoid paid trading bots. Because if you are interested in using a trading bot, it is available for free on Binance. And talking about the actual profit percentage, it depends on our intelligence in managing the bot itself. And I prefer to use bots on trading pairs that are sideways but with pretty good trading volume. Like on Ethereum. But we have to be careful because sometimes bots only display profit percentages as if we continue to make profits. But apparently not. And high volatility is also not suitable for using Bots. But that was my experience last year. So I don't know what trading bots can do now. But I'm sure it won't be much different. And I personally am more confident trading manually than relying on bots. Because maybe I am a day trader. But if someone has another profession such as an office or factory employee who is very busy. So using a trading bot can sometimes really help. But first we have to learn a lot to operate it properly.

It could be like that, but we also can't conclude everything like that because sometimes bots are also needed in trading, even if only to a limited extent. Because before the existence of trading bots, traders were also quite comfortable trading manually using the techniques they each used in the market, but now traders will certainly see how easy it can be through trading bots. So that they don't use it wrongly because not all trading requires bots.

Expressions like that are quite reasonable, so even if a trader doesn't use copy trading, AI trading, and bot trading, he can still do his own work as before all of that existed like now. This means that these three things are just tools for traders which can be used according to their needs, although it doesn't matter if they are not used because work can still be done as usual.

That's what many are still thinking up to now. When they hear someone who trades crypto, the first thing that will enter into their minds as a first impression is that person is good at making money. Little did they know that many of the traders are having troubles with their own trades and not earning as much as they were thinking. And in terms of bots, they think that these are money making machine but it is just making the trades easier but it's still gonna be dependent to the decision of the trader.

Yes, DYOR and gain more experience if they want to pursue trading. Don't get into unknown bots if you're for it so that you won't be a victim of malware that's injected to unknown sources.

If we want to say the truth to ourselves, the centralized exchanges especially Kucoin that provide bots services know very well that this is nothing but a scam but they will give customers false hope that they can do more with these exchanges and make more money but the truth is that they can't make anything from trading, instead of using trading bots, I will rather trade using support and resistance line than bots that will not yield anything after 30 days.

There was a review I watched on YouTube about these bots, they are profitable and there was a loss too and the total profits and losses were balanced down, the loss was more than the profits and that beat the objective of a real trader in my opinion, in the bull run they gain more profits than the loss.

Of course, how efficiently this technology can work depends on how efficiently this technology can be managed. If the operator is good then it is possible to get maximum efficiency from a technology but if the operator has no idea about the operation of the technology then it is nothing but foolishness to expect 100% efficiency from that technology. Trading bots are good for those people who can use and manage this technology properly. Since operating a trading bot requires prior experience, an experienced person should apply their experience directly. Trading like a manual even if the machine works well. Manipulation is possible in case of machines but that is not possible so we should do some work manually instead of relying on technology in all cases.

Yes, it certainly helps but it cannot be reliable to give you consistent profits. Trading bots are programmed software tools so how can these be good for unpredictable market like crypto. This is the reason why manual trading is still the best option. Use your own intelligence and skills, and not through computer related. Trading is a battle of our minds and emotions so it should be done through trading on our own.

Trading bots would not be invented if they don't work in the first place. Of course they are working but probably at a limited time, unlike trading manually that can offer you limitless profits as long as you have sufficient knowledge and skills to overcome the risks in trading. However, trading bots could only be working if those who operate them are highly knowledgeable and skillful as well.

thats true, knowledge and skill also required in setting up the bots, this is why sometime we see some bots that getting the adjusted setting from some professional.
also, if AI is implemented within the trading bots it will be even more massive help towards the trader themselves.
there is also reason why many exchange give some bots feature in their platform because it has been proven to be helpful for many.
so in conclusion these bots are working really well for those that know how to set it up and not many people can do that.

Ai could actually help a trader since in a quick seconds of writing they can see a wide result if they want to see some past statistics and other informative matters that can help them on taking decisions on their trades. But we cannot expect that Ai or bots  can help maximize or generate us a profit since this is just a helping tool where we can automate our trades if we are lazy and cannot always set our trades. Other got wrong expectation about it that's why they get scam since there expectation is so unrealistic about those tools.

Correct, I finally stopped trying to use trading bots. Because as you said, trading manually is much better. It's just that we must have special time to trade. Because trading requires time to make analysis. And actually using a trading bot is not as practical as you might imagine. Because before determining which trading pair to enter. We also have to make a fundamental analysis so that we don't experience large losses when prices suddenly change direction. Because the weakness of trading bots is that this tool cannot stop making repeated entries when price changes occur so quickly. Because trading bots are only based on basic technical analysis and trading bots do not have the ability to know news or fundamental analysis. So it is very dangerous when the market is in uncertain conditions like now. Where bad news and good news keep appearing and make the market have high volatility.

Of course, the fact that many trading bots on the market fail doesn't mean that they all fail. Trading bots work with a specific algorithm and it is possible to enter commands such as "take action when this person tweets about that". However, regardless of the conditions or the orders entered into the trading bot they will definitely not be like the transactions made by a trader who follows the market and opens transactions manually.


Yes, a trader who has a quality trading bot and can manage it or adjust the necessary orders well can definitely make money with this method but this will not be the case for many traders. Personally, I'm not exactly hostile to using trading bots but I think that anyone who will use a trading bot should be aware of all the potential risks. On the other hand, I don't think that everyone can make money by using a trading bot as the possibility of incorrect transactions is high depending on the quality of the trading bot. As I mentioned, I have no hostility towards the use of trading bots, but I do not recommend their unconscious use.

This is a good idea we know already when Elon musk makes a move with their favorite coins people keep buying and the market pumps immediately but still there's a possible condition we know how does the market makes manipulations, better if the bot or the programmer itself makes a good statement that must need to verify the percentage of the pump, I don't know if its possible they can make a TA in the code to identify for the TP/SL if the pattern satisfied the condition.

Yes... or maybe not? I guess so.
I didn't ever tried using it when I'm still trading because trading manually is still the best instead of you just letting a bot trade for you.

You can control your own decisions if shit happens. A bot isn't reliable as it is. Many are promoting trading bots. Many are adding trading bots in their platforms. Still, manual trading is the best. On the other hand though, with AI starting to become more popular, I will not be surprised if trading bots will become more and more reliable because of AI. If trading bot is working 100% of the time, there must be no losers in trading right now. An AI bot will just rely on the things that you set it to do.

We know that the markets are greatly affected by the news, and the bot don't care about it. What you put is what it will do.

In case with Elon and DOGE the percentage of the pump is always high in the momentum. So if we need to have an automated bot then we can just lower TP for like 1-3%. This should work for sure and at the same time with a reasonable leverage it should give a good profit. But I'm not sure about pump verification as it takes seconds after the tweet to get the price pumped which can only be caught with the automated bot.

Does anyone know if there is any no-code platform that may help to create a bot like this? I'm curious to try this strategy. I don't have any tech skills but the settings doesn't seem complicated.

As far as I know at least one bot like that was created when Elon started to tweet about dogecoin and this market, I do not know how effective it was but if I were to guess I suppose it was effective, as back then people gave a lot of weight to anything that Elon said about this market.

However such strategy was not bound to work for long since even if Elon is still influential when it comes to meme coins, his antics has caused a lot of people to ignore him completely.

Since I haven't personally used a trading bot yet, it's difficult for me to comment on its usability. Now, based on my research into trading bots, it appears that few people claim that they benefit from them. Nobody has claimed to have made a lot of money with a trading bot that I have come across.

In addition, those who make such claim are merely pushing a trading bot. At this time, the information I found in the article I investigated is conflicting, and others may argue that it is profitable but not a surefire way to make money. Because it is not guaranteed, however someone has claimed that the daily return on investment is between 0.1% and 0.5%.

If the trading bots were successful and they provided 100% of the time accurate results, wouldn't the whole world leave all their work and businesses and start using bots to trade and make money?

The fact is that bot selling is a business and people are selling these trading bots to traders who have already lost a lot of money in trading and they buy them thinking that these bots can help them trade better. But the reality is otherwise.

If you want to be a trader, better learn it first, experience it and eventually you will become a better trader. Trading bots may assist you temporarily, but they are unable to be profitable in the long term.

I would guess if you make it based on the movement and not the tweet then you are going to end up with a horrible result. It could go up a bit even daily and that would mean that you are going to buy something without Elon ever tweeting about.

I believe that if you want to do something like that, a 10% increase at least should be the way to go, and then manage it to sell if it goes 100% as well. That would be a bit better, still not really smart and there should be a bot that reads Elon's tweets and check for any word of doge happens to be in it or not, he could say something bad too which would mean that you are going to buy when he said something bad, but at the very least it would be better than just volatility.

A trading bot works if it is properly guided. An experienced trader can trade with trading bot and an experienced person can make profit by trading but this technology will never be good for those who have less experience. Artificial intelligence cannot solve all kinds of problems everywhere. For example, if you have a problem with your exchange, when you go to talk to support, a bot is suggested to you to solve your problem. Can you solve your problem with a bot? 
When the bot can't solve your problem but you have to take manual help to solve your problem. Same with trading, I find manual trading much safer and more efficient than trading using a trading bot.

I think AI-bots work kinda good, you have a lot of people on YT guide and show when they do it. https://www.youtube.com/results?search_query=Trading+with+AI+bot
But I don't think it's the same feeling and fun as trading for yourself, it would also make me a bit more nervous :)

You mean properly set-up? Have you tried using a trading bot dude? If yes, how is it? did your expectation reach the profit you want with this? Because for me it's really different that we ourselves do the actual trade we want. Because we ourselves can see if we have something to learn or not, You know what I mean.

Let's say that somehow it can make a profit but not big and not always even if the set-up you made here is proper. So, that means if the outcome is the same, it's really better that we ourselves do the actual trading either in spot, futures, or perpetual, it just depends on our choice, right?

What you did in actual trading is somewhat the same as what you have set up for trading bots. The only advantage of having this is that you have never stressed yourself as you let the bots do the things as it was on the command. Now, the question if that will work efficiently - well, that is something to ask ourselves if we are really good at trading or just like a newbie. Because the truth is that the results of using trading bots lies with the person who uses them. Trading bots works based on the command, not in its own way. 

I don't really recommend trading bot if you want to make profits most of the time unless you're the one who made the bot and configured it yourself, that way, you could assure yourself that it is trustworthy since you could test it out many times as you want to perfect it.
Trading bot also cost a lot and most of the time it doesn't work, so you're just gonna waste your money on that for sure, lucky if you found one that's legit and gives you profits most of the time.

and it won't decide on its own if there are instances where human intervention is needed. Bot means it acts the same as you code it and does it for you without any intervention. The advantage of this is that it will follow the process strictly so there are no emotions involved unlike humans but if you don't have a good strategy for taking entries the bot wont do it for you.

There are also people selling bots that do the trade for you and that is where I am skeptical because they are selling it instead of using it so it is better to have someone make a bot based on your strategy than buy it online.

Well true, I also think that bots are created so that they stick to the controls that humans have created. As we know that when we solor trading without any help, it is very possible that there could be some losses that are caused by our carelessness when making decisions, one of which is that humans have a sense of doubt that always haunts them when they want to take a buy or cell position. So by using the bot it can minimize all the doubts that are usually the beginning of mistakes, but well that's true it also depends on the strategy you apply in the bost, if your strategy is wrong then obviously the final answer will also definitely not match your expectations at the beginning, in fact, the bot is quite helpful but it also depends on you who set it up.

Well that's right gaes, in fact there are many who sell trading bots, on average those who are already professionals in terms of trading and can be said to be quite successful so they created the bot with the aim of helping several people including novice traders to make it easier to trade. But well on the other hand don't think that this is entirely a solution for you, because in fact it is not uncommon for those who are deceived by buying these bots, instead of getting consistent profits as expected but instead losses dominate, and well I agree with you instead of buying from other people who are not necessarily trusted it is better for you to create the bot yourself with the knowledge you have, it's better.

If you are really that making yourself that highly reactive when it comes to those fundamentals and news then you would really be finding yourself at great trouble whenever these sentiments do really comes out.

You would really be finding yourself that making tons of possible mistakes and errors when it comes to your investment decisions or specially on your entry.We know that trading bot would really be that
acting or following out on whats been set out on the command and with these sudden market news and events would really be leading out with that kind of market pulse and unpredictability when it comes into its price movement then it would really be that messing up on what you had set earlier.

Do they work? Not much but they are relevant because automating out your trades basing up with your analysis and strategy which is really that a huge convenience for us. It is really just
that there are people who do mold up those kind of bad impressions and wrong beliefs about trading bots which they do really see it as a money making income machine. lol

Trading bots will never stay this long if they are not working on the first place. Of course they are but it also depend on the trading providers. But I must say that trading bots are not all the time effective and profitable. You can’t be trading and rely on it all the time. You have to trade on your own and improve what needs to be improve. Through frequent experience, you will learn to manage your own trades, and with developed skills and strategies, there’s no need for you to trust those trading bots but stick to your own trading ability.

Whether it lasts a long time or not depends on how the bot is developed. If the bot is not taken care of and not developed further then there will be no good continuation. Now bots also use AI so they are smarter, faster and more efficient. Whether or not it is recommended to use bots depends on our needs. It's not good to use bots completely, it's only as an assistant to our trading. Occasionally using bots to make our work easier is quite good, but choose the recommended bots. Don't use free bots that are not recommended. Manual trading and in combination with bots is good enough.

Trading bot works but I would say do it by yourself without using trading bot. Because the point is not that trading bot will work alone, you have to give commands.  And if you are new to trading then I would say don't use bots.  Get enough knowledge yourself first and then use the bot.  Trading without understanding is very risky. You should use your own knowledge. Is it not stupid to depend on a bot to have your own intelligence? It is better to keep laziness away in these tasks.

Plus, when you make a mistake, trading bot sellers will easily be able to put the blame on you and not their product, which is why I do not like to use them at all, I have used them before, and I can't believe that when it is making a profit it's NEVER my trading that made it make a profit or the market going up that made it go up but it is the trading bot that makes it a profit, whereas when I end up losing money while using it, it could be the market crashing, or it could be me making a bad trade, it could be something but not the bot itself making a loss and sucks.

I am sorry but I rather not use anything that would get all the credit but none of the blame. This is why I try to avoid the bots and definitely avoid the sellers.

A valid point,  relying with bot without proper knowledge about the business will lead you in losing your money,  yes we can confirm that trading bot may work if being program properly  but the chances is slim if you are new into this business and you are not good yet in anticipating how the market will move.

I mean, using your knowledge and let the bot to execute it for you will work, it helps to avoid emotional issues when you are dealing with positioning your trades.

Normal ! How are you to work with bots if you've little or no solid knowledge about trading?  you might just even consider it a waste of money because you are the one to dispense the orders and instructions which will serve as guide for the bots. As he has said , there's no need to add more, but learn a strategy  which will be follow by the bots to them you are their Master

The big exchanges like Kucoin,Binance had the trading bot,but as we know the trading bot is not highly recommended one.The trader can do the trading manually based on their trading knowledge,it alone help the trader to earn more money from the trading.The trader should learn the trading and also learn the holding.So he can easily earn money from the trading by holding.The panic selling was the bad move by the traders at the initial stage.Because it’s essential to hold the coins at the time of the bear market.

Many exchanges provides bots but there is no guarantee of passive income on a consistent basis depending on what you want the bot to perform.

For non-exchange provided bots, I consider them highly risky as they are catastrophic when they see deviations from trend. Also considering the volatility that goes with the crypto space,  one cannot tell how high the volatility will be some times and the bot may not be coded to handle such.

In such a case using a trading bot will of course be useful in making the best use of possible opportunities. However, it shouldn't be forgotten that it is actually possible to perform these operations manually. Activating all notifications for Elon Musk's X account and ordering instant market price transactions by following these notifications will definitely help you earn more easily. The most important thing to consider here is that orders such as TP/SL must be entered after the transaction as soon as possible, as all transactions will be done manually. In addition to these details, it is very important to carefully follow the price movements and other tweets that will be shared by Elon, since the transaction will be followed manually.

That is, if the event in question occurs it will be possible to perform both trading bot and manual transactions and earn profits. Both methods are something that needs to be handled very carefully.

I'm not really good at trading so I try bots thinking that it help me and expecting this would change my mind about leaving trading. Unfortunately, the results never met my expectations, for me, it was a failed attempt. I've found out that trading bots is useless if you as a trader don't have knowledge about trading. I'm not sure if hiring someone to set up the bots instead of doing it personally is a good idea, but I don't think so. Because the only ticket for us in order to succeed in trading is to become knowledgeable about this.

I think that's because you used trading bots for exactly why NOT to use them:
Trading bots are simply meant to help you as a trader automate your strategy and trade even when you are away from your PC. So they are a support for you.

You probably expected a trading bot to magically make you money, unfortunately that doesn't work... and that's not what trading bots are for. Any platform that promises you the opposite is simply lying to you.

There are trading bots with ready-made strategies, but if they always worked 100% we would all be filthy rich.

To answer your question, trading bots work but not for everyone. Trading bot will work successfully only for those who have good knowledge about trading. Also I don't think trading bot will work very well for a new trader. If someone thinks that by using trading bots and will become a rich overnight, then it will be his wrong thought about trading bot, because if you can't drive, you should not seat on the driving seat cz This makes accidents more likely.
Already many people have mentioned above how trading bot works, so there is no need to describe here separately that if you use trading bot without technical and fundamental knowledge, you may face loss.

Regardless if these trading bots are working or not, I would not prefer taking shortcuts. It's still much better if we do trading decisions on our own rather than relying on the bots for automation reasons.

Although I acknowledge that some traders with great or extensive knowledge are using these trading bots to automate their decisions, but still the best for me is by doing it manually which we can decide on our own. Just saying.

But if you are a beginner in trading, it's not best to use these trading bots which you need to improve and master your skills first.

Instead of using trading bot use your own learning experience because there is a great difference between trading bot and own experience. One advantage of bot is that it will never regret for its actions whereas humans will always regret once they follow wrong concept.  Disadvantage of using bot is that it will do for what you have set it but as you know that we are unable to predict the market so hardly it will achieve profit for you as with volatility a trader himself can make a good turn.

If you trade with the help of bot then how you will learn about market and how you will attain experience? Therefore try to use your own mind if you want to get experience and success in future. If you do mistake then you will learn to not follow that in future but this mechanism does not exist in bot as it always operates according to your entering code.

Yes trading bots are working, because they automate existing strategies and will reduce the time we need to spend looking after our trades. In the past a few friends from university pooled some money together and we tried out a trading book. It was quite successful, but it only worked with stocks. As long as there are experienced and successful traders beating the market on a consistent basis there will be bots that can run these strategies more efficiently. The real question is can you get your hands on these trading bots, or do you have knowhow to create your own bot. In case you are running successful strategies on your own than you can look into building your trading bot. But if you are looking for a free trading bot that is going to make you a lot of money I don't think it exist. Why should anybody give away his trading bot that works well for free? People would rather sell it for money.

I'm sure if it is a genuine trading robot of course it works. But that doesn't mean the robot used in trading can be completely accurate in looking for signals. usually we use it for traders who have little time to analyze and let bots play their money in trading. If you really want to use it, make sure to actually use the trial of the bot to ensure whether it really meets our expectations or not.

Logically speaking, there's no one in the right set of mind will exposed his working money making system, if he knows that the bot he created will continually bring him decent amount of benefits, for sure he will try to keep it as secret as it can be to make sure that no one will use it or exploit it as the value of winning strategy or patterns is really important in terms of trading.

If you have that knowledge and you know how to execute your trade or your target positioning, bot will be useful for you to lessen the time of your stay in projecting your position, as bot can do the work after you input your desire strategy and it will execute it the way you wanted things to take place.

Trading bots can be of a great help if used properly. Yes, it can assist and support your trading matters even if you are away from your computer. But, trading bots are programmed just as a 'support', meaning that you cannot fully rely on it as it can also affect your trading negatively. Having trading bots does not mean that you will just let alone the bot do its job as there can be still an error and mistakes with it and such technical issues might still occur. Personally, I think trading bots best works if both of you work together as it can help to achieve better results in trading. And its not a good idea to trade if you don't have any knowledge about it, and the first thing that you cling onto are trading bots.

You might as well ask if there are any trading strategies that work.
If you (day)trade using specific metrics and according to a pattern (so don't make decisions based on gut feeling or current news) then that behaviour could be converted into a programmable bot. Of course the more different metrics you use, the harder it would be.
But you cannot have a definite answer on whether or not they work, as different bots can be programmed in completely different ways, i.e. a well-programmed arbitrage bot will always be profitable (even if the profit is small).

Totally useful if you are really that knowledgeable on making use of it or on how it should be ran but we know that other people does have different impression or different beliefs towards these things on which they do believe that trading bots are the ones that could make them money or simply it is really that a reason for them to become rich which it is really that a very wrong kind of thinking because this would really be rather leading into a disaster if you dont really make yourself stick into those realistic approach towards it. We know that it cant really be just that so possible that bots are really that making income for you.It is really just for the automation of your trading on which you are really that still the ones who do make out commands about those actions would really be made once it do hit up a certain condition and this what makes brings out convenience
specially into those people who arent really that always in front of their PC on which having these bots would really make out things even more simplier and more that convenient.This is the true purpose of its existence
and not into those things on  which they are really that thinking that they could automate making some money without doing something and let those bots do the work.

and these bots that usually works really well are the one designed for it, meaning it has ability to make some guess based on current pattern which revolves around taking advantage of guidebook chart analysis.
meaning that its not some random bot with minimalistic capabilities and if i remember correctly most of exchange out there that give bot features are just giving bot with minimalistic capabilities just to determine when to entry and when to cash out meaning it won't be that massive of help.
if you are good at programming, you could bould it yourself and make it better suits your needs and I think thats far better than using some random bots.

Better understanding and if you have deeper knowledge, you can really maximize the use of this system, as mentioned, you still have to program or input what you think the market next movement, system that will allow you to position your prediction in advance, bot will execute even you are sleeping, you don't need to spend more time if you know how the system works.

The good catch behind it is you can trade without emotion. I mean, after you setup your position using bot, all you have to do is wait and allow the cycle and see if your assessment is correct. Let that bot work for you.

Trading bots does work for spot trading and even futures trading. you dont need to do anything after its set up, the bot will take trades for you and make profits or losses depending on the market situation at that time. you just need to be sure that the reviews from previous users are good before you purchase if you want to buy or subscribe to the service. if at anytime you notice the bot is doing things beyond the normal then i think you should stop it and close trade manually.

Generally, trading bots depend on your capability as a trader. And it only works efficiently if you properly set it up like what you did in actual trading. It doesn't matter if that trading bot has good reviews/feedback as it really depends on the trader who uses that one. If you are knowledgeable in trading, you can also think that the results are positive but in a newbie, we couldn't think about it. That is why it is better to gain more knowledge first about trading rather than thinking about using bots as it never gives us positive output.

You would really be seeing the actual relevance of bot in trading if you do really know on how to make use of it and just like the rest been saying that you would really be eventually be able to see and appreciate its usage
specially if you are that a trader who doesnt really like to see and watch chart all day long on which you could really be simply be putting up those bots in work and would really do the job for you but of course they arent
really that adaptive specially if there would be some sudden news on which means that it would really be needing with your own decisions and alterations on the time that you do make out decisions on changing those trading methods or ways.

Agree on some points above that newbies are the ones who do have that kind of impression on which they do really believe that Trading bots could really make out money for them or able to generate without doing much
work without even trying out to realize on whats the actual usage or how it should really be used in the first place. If they do really just know that real deal with these bots then they would really be looking themselves like clowns on believing on something which it is really that impossible. Trading bots do really work but of course when it comes to precision and efficiency would really be always depending on the set up
or commands that you had put up.

They work well to make your trading run more automatically because you only need to set it well, your profit and loss percentages are set in the bots, and some paid bots provide certain signals such as when there is a large transfer of funds from one address to the exchange so that it can give a little sign of what might happen in the future, don't be mistaken, bots don't increase your profit percentage, they just make you more automatic.

Yeah, but just to add, it's not as passive as many think it is. There's no one, good, optimal bot setting that will guarantee profit. Even with a most advanced and complex settings you still have to monitor the market for any deviations from expected patterns. Otherwise you're doomed to fail.
It can't be too easy, if it was, everyone would be doing it.

Trading bots does not bring magic to your trades. What you need in trading is your potential as a trader, and the best of your knowledge and skills that will help you improve your trading career. Those who have succeeded from using trading bots are probably professional traders as well, otherwise if you are just a beginner trader and you resort into using these trading bots, definitely they will not be working either.

The first thing that you said is the true purpose of the bots, and the rest are just an addition. But whether using a bot or not, a trader can still expect more, especially if he thinks the strategy that he uses are really good. If he doesn't have his own strategy because he still lacks of knowledge and skills, he can use someone's pre-configured bot and he can expect the same thing, especially if the bot owners promised them that their bots are highly profitable.

Rather, you can say the owners of those bots won't ever publicize it but they can just solo the gains that they can get out of that bot because if all will use it, who will lose on a trade and give us a profit?

Logically right, as we all know how trading bot works.
Still relying with how the inputs of the users, so if you are new to this business chances that bot will lead you to lose your money is possible unlike if you are already an experienced trader who are practicing your knowledge using the bot.You have that edge in terms of anticipating the market and how it will move in the next market trends.

It's more on how you deal with an ordinary trade, your practices will reflect to the bot that you'll going to use, the better understanding you've got the best result it can be for your trading experienced.

Of course, you're right. But if you copy someone else's strategy anyway, I wouldn't call that trading, for me that goes under "copy trading". Such features are sometimes also offered by well-known exchanges/platforms.


But the learning effect of copy trading is zero, you have to blindly rely on the fact that what the trader you follow does is also sensible and successful. To be able to assess this, however, you need experience. I therefore consider copy trading to be a nice gag, but I would never invest money in it myself.

Disclaimer: Of course, this is not meant to be an advertisement for OKX, I have never used the service myself (and don't plan to do so).

Trading bots, I have used them before, but the experience was not that good, as it is used for buying and selling. I have only used the two features buying and selling and that was also for a very short time.
Sometimes, it showed the wrong entry when I wanted to take entry in any coin, and also my telegram got closed by itself due to this. Thus I stopped using and I'm using the Binance exchange after that.
So, I had concluded from my experience about the trading bots, that using the exchanges is much better than these bots. and checking after too many times, sometimes it will not show me the rate which the coin should have.
You can try different exchanges to get some trading experience and also check different coins there and trade between them.

Totally that useful i should say specially into those people who do really utilize its usage and usefulness specially on automated trade on which it could really be able to bring out that convenience
on a certain trader and something that cant really be that be able to utilize with those noobs whom do really believe that trading bots could really make money for them which it is really just that
having that so common misconception on how things should really be handled it right. Trading bots are for automation and make things that more comfortable or something that would really be applying out your analysis on automated manner and not really that something that could give out sure profits or making money  on what most those noobs do have in mind. This misconception do still
really spread out and even present nowadays but well as the time that they would be having those real experiences towards it then for sure they would really be able to realize
that they were totally wrong on what they do have mind earlier.

I don,t believe in bots because i,m not a robot and i,m a human so when trading managed by bots than facing so many problems with many issues and i always fever to analyses own and research from others platform like google, youtube,telegram like this and some good channels for trading signals in telegram i also using i never used bots in trading section.

A total misconception where newbies thinks that with the use of bot they will be able to generate profits, thinking that executing bot will allow them to have a winning trade, unless they've got the knowledge to make a usable program for bot then they might be generating decent benefits but if there's no knowledge at all, they just simply doing it like a normal gambling type of trade.

More on your own evaluation and how you figure the next market movement, your input is what the bot needs to execute the system
and bring you the outcome that you design and expect.

Because the trading bot has a risk, if you set it up wrong, you won't make any profit. But I haven't tried that yet, and I don't want to try either because I know it's not profitable. Most people here in the crypto community also know that.

I don't know how the trading bot became profitable when so few say it is profitable. So, meaning, hype is what happens for someone to try the trading bot; this is just my observation.

I must say, diving into the world of cryptocurrencies can be like navigating through a jungle - full of exciting discoveries and unexpected twists. Your insights on the potential of Bitcoin are spot on! It's like the golden goose of the digital era, isn't it? But, let's tread cautiously, for every rose has its thorn. Speaking of which, I'd love to hear more about your thoughts on mitigating risks in this volatile market. And hey, while we're on the subject, have you checked out immediateedgeapp.org (https://immediateedgeapp.org/)? I've heard some buzz about it, but I'd love to hear some real-world experiences. Anyway, keep the discussion going, folks! It's always enlightening to exchange ideas in this ever-evolving landscape.

A total misconception i would say and i do agree on whats been said or mentioned above on which newbies would really be the only one that they would be thinking that they could make money
or sure profits with trading bots on which this is really very wrong because we do know that when it comes to bots then this isnt something that makes you guaranteed profits but rather these
are tools that would really be aiding you to execute your trading set up and everything would really be just that depending on the setting or commands that you had put up into.

It would be totally useless if you do make use of bots but dont know on how to use it then it would really be just that no sense on doing so. You would be still losing because
there would really be bot settings which it would really be that ideal to be used on a certain market condition and this is where traders knowledge would really be relevant.
This is why it would be always best that you should really know on what you are doing.

I have never used bots in my trading and have no experience using bots. I always use my own experience as much as possible in my trading. I never trade on trading platforms with bots because as much as I can trust my own trading experience, I cannot trust my trading bot. I always think that one should trade using own experience on the trading platform because own experience on the trading platform is more likely to succeed.

When you spend money to buy, the bot will function and work according to orders. More precisely, you use a third party to carry out trading and some people actually avoid it for reasons of having their own knowledge rather than trusting a third party for the trading they do. But you have to be more selective because bots that are programmed and set by certain people are likely to be scams.

There is no way to earn consistent income in bots and not even trading if people can make consistent profits all the time. You have to understand trading not at the level of the bot itself because otherwise the trading you do will not produce any results.

Trading bot can also generate profits, but I was never sure that bots could provide consistent profits to traders every day. The way a bot works should follow the instructions given by the trader or the programmer, so clearly the profits and losses depend on how the trader gives instructions to the bot, although the bot can also make analyzes based on the approach instructed.

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

And that's why there are trading bots that can help us whenever we're out of the market. But it's only setting them to the prices that we should hit.
It's true that no trader gets consistent profits because even the best, they're also getting losses and no one is going to skip that part because we're all going to get it whether we like it or not.

If you do have that full time or having that huge vacant then you would really be definitely be doing up with those manual trades and this is something that will really be your routine but for those people who do have their day jobs and some errands or something important matters and just making trading as their side income or profit then making use of bot is something that would really be relevant and helpful. It is really just that most newbies or not all would really be having that kind of impression and beliefs into their mind that trading bots could actually make them money or somewhat being a sure thing without even trying out to realize that they are really just that tools that makes your trading venture would be more that simple and not hassle. Come to think that bots are really just that automating those strategies that has been set on which it would really be just that normal that it will really be that that basing up on someones knowledge on how they would be setting up their bot. If you dont have that sufficient knowledge about trading and using up indicators
then there's no way that you could be able to make yourself knowledgeable on using these things too.

But do mind also that the trader will still the one to set on what will the trading bot should do, meaning it will only follow on what range or setting you trader puts, it simply automate your trade for you, for example you will set your trading bot to trade in the specific price range, meaning the trading bot will automate to trade at that range and they are the one that will initiate and do the work for you, so if you happens to put a bad range or not a good settings then expext that your bot will not function and it may also make you lose money, although trading bot will be a big help, still I dont think relying in trading bot is not enough or not good, a trader should also enchance or should have the necessary knowledge and skills in order to prosper and to eventually make a good use of trading bot.

Yes, that's what I have said that you have to set the prices and the bot itself for it to work. Well, it automates your trade but doesn't really mean that it automates everything that a trader does. It's more of an assistant to your trades and you give them instruction about the process, but if you're too productive with them, that's good to see and keep doing your trades with the help of the bots. But if you see that they're working for you, stop it as it's a waste of money and resource.

That is certain because it is impossible for a trading bot to be created if it is not able to generate profits, but as we discussed, the level of profile consistency every day cannot possibly be guaranteed. Because if that could happen, why would people be so busy investing independently and it would be better to use a trading bot if it could produce consistent profits every day. Trading bots are programmed by people and that means they follow almost the same patterns as manual trading capabilities and it is impossible to follow orders for a profile every time.

Trading is much riskier than investing, which is why people think trading is not easy to do, whether using a trading bot or not. I agree with you that trading can be done when people are really ready, except for those who are experienced in dealing with risk because even if they experience a loss, they can recover in the next trade.

Trading bots are really indeed for automation and something that would really be useful if you are a kind of trader on whose isnt really that much focused or something that have tons of errands or busy for your main job
or whatever more important things that you are really that dealing on with on which you would really be finding the real relevance of these bots on the time that you would really be doing trading.
Of course it would really be mainly up needing that kind of knowledge of the one who would be using it. There might be those bots which are already that been set or already that been having those kind of
configurations but still it would really be that good that you would really be checking it out once in a while considering that there are market instances or situations on which it would be needing up that
immediate action on which it would really be needing up that traders immediate attention of course.

I’ve heard so much about trading bots from some people who claims to be using them and it’s working, the way they talk about it, it’s as if it gives 100% assured profits. I’ve not tried it though, I only listen. One time I would have tried it but luckily for me the bot crashed before I could get involved.

Hmm not actively relying on the trading bots, as Bot's more helpful in the consolidating market (Personal Observation), Still I can give some of my experience points, Bots works but you need to always know that bots are bots haha, Bots work well but it also depends what type of customizations are available in your bots and how you've customized them, from customization I mean adding margin, accumulation levels, and profit levels.

Keep in mind there's nothing called 100% winning in the trading market I've carried losing trade-in bot for over 4 months so you can say if the market wants to test you not even bots can save you.