Automated Cryptocurrency Trading for Beginners

[DeathProxy]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

[BitHodler]

But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.

A bot can easily adapt to the changed market dynamics, much faster so than a trader can trading manually.... another advantage is the fact that a bot has no emotions and therefore has no such a weakness to deal with.

Why do you think the stock market is being traded almost entirely by bots? That wouldn't be the case if bots sucked and traders trading manually would be better. In crypto that ratio is likely a little lower, but it will get there eventually.

Bots are not perfect by any means, but they get the job done faster and better than humans do.

[fullhdpixel]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

One of the thing that we are able to control using bot is emotion which one of the greatest enemy of emotion is actually greed, which is why bot is still very much reliable in managing this aspect for people and I think that people may still not lose out in all these surge if they are very smart in thinking about business. Anyone using bot ought to have thought far and out two and two together to actually not miss out of any of the train.

When I was using bot to trade, having out this challenge into consideration, what I did was just to split my fund into 3 parts, one for the bot trading, another for long term investment and the last of it for a moment like this when we will experience suddenly surge, then I pull out, at least this one does not require much staying on system to monitor price, people will definitely announce it.

[alan2here]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

I think if automatic trading, you can still see a big risk because we can not be sure when it can make a profit and asset we always will face many security so I don't recommend it this way. You can analyze this market yourself and choose to invest if it is a good coin for profit. I have encountered many cases when using bots and they often complain a lot about their profits.

Of course I never use automated trading because if you have entered the crypto market your chances of making a profit are huge and it does not take too long to wait if you are a good trader.

[NewRanger]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

I think if automatic trading, you can still see a big risk because we can not be sure when it can make a profit and asset we always will face many security so I don't recommend it this way. You can analyze this market yourself and choose to invest if it is a good coin for profit. I have encountered many cases when using bots and they often complain a lot about their profits.

Of course I never use automated trading because if you have entered the crypto market your chances of making a profit are huge and it does not take too long to wait if you are a good trader.

automated trading or some people called it as robot trading, it didnt give any guarantee we will earn profits consitently.this robot builded by logical algorithm from expert trader,this algorithm not suitable with some market condition and it work on stable movement,meanwhile market always moved with high  volatility so its so risky use this robot.its better to developt our own skill step by step,so we will understand about market movement. In future this skill will very usefull in all market,not only cryptocurrency.

[Quidat]

But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.

A bot can easily adapt to the changed market dynamics, much faster so than a trader can trading manually.... another advantage is the fact that a bot has no emotions and therefore has no such a weakness to deal with.

Why do you think the stock market is being traded almost entirely by bots? That wouldn't be the case if bots sucked and traders trading manually would be better. In crypto that ratio is likely a little lower, but it will get there eventually.

Bots are not perfect by any means, but they get the job done faster and better than humans do.

Bots are for automation but it doesnt mean that its way more better than on trading with manual knowing that bots
are just following on what are being ordered by the trader itself.Yeah they dont have emotions but there were circumstances
where bots do failed to do so because human reaction and intuition do still have edge when it comes to decision making.
So it isnt really good to rely fully with bots if you dont know on what you are doing.

[teosanru]

I know there are a number of people here who have been looking for simplified ways to automate aspects of their portfolio.

As a result, I would like to suggest the following guide:

https://cryptopress.news/automated-cryptocurrency-trading-for-beginners/

This guide discusses how to automate your portfolio using strategies like portfolio rebalancing.

I think it's worth a read for everyone to explore this new concept.

I highly suggest anyone not to use any automation when it comes to your hard earned money. Best strategy which can guarantee you long term profits is choosing good coins yourself by doing thorough research and investing in them. or use some bot only if you have yourself created some bot which could help you in trading. I have seen people burning all of their hard earned money using these softwares. Even if they aren't shaddy they generally would end up with some glitch which would cause you a lot of money.

[jrrsparkles]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

A beginner should understand trading bot will make the things easier but will not make the profits for us to be easier in history there are lot of scams and losses also happened due to bots so for beginner they should try manual trading method than looking for automation because bots are really a thing for pro trader who keep trading 24/7 not for the one who don't have enough time for that.

[gabbie2010]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

A beginner should understand trading bot will make the things easier but will not make the profits for us to be easier in history there are lot of scams and losses also happened due to bots so for beginner they should try manual trading method than looking for automation because bots are really a thing for pro trader who keep trading 24/7 not for the one who don't have enough time for that.

I also canvasses manual trading for a beginners in cryptos this will enable them to have a first hand experience, manage their trades with a suitable stop loss and take profit, starting a with automated trading bot is not the best option due to unreliability and might be complex to a newbie thus failure to setting up correctly might lead to loss of trades.

[BitHodler]

So it isnt really good to rely fully with bots if you dont know on what you are doing.

Isn't that up to the people running them? I mean, institutions are monitoring their bots every single second and allow human input to adjust settings so that their bots don't buy or sell into an unexpected price movement.

I think your point refers more to those who pay a service for a bot and then sit and wait hoping for a profit. In that case you are right, but that's a problem with the people who bought these bots and not necessarily the bots themselves.

As long as you know what you are doing and have full access to that bot, there isn't much that can go wrong IMHO. At least, not more wrong than when people make mistakes trading manually.

[michellee]

At least the service is not free. There is a subscription for beginners to pay $19/month, and after I check on the help page, I found that there are so many commands that I am not sure beginners will understand how to set the bot for the first time. It needs programming knowledge to arrange everything so the bot can run properly. But I am not sure how we can set the command since I can the service because I only register on that site. But the bot is looking promising because if we can set the bot with the right set up, it will search the profitable coin, and it will work as your command.

[Webetcoins]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

A beginner should understand trading bot will make the things easier but will not make the profits for us to be easier in history there are lot of scams and losses also happened due to bots so for beginner they should try manual trading method than looking for automation because bots are really a thing for pro trader who keep trading 24/7 not for the one who don't have enough time for that.

Depending on bots rather than one’s own skills and knowledge is not appreciated by me either. If it was possible to succeed in trading, then the world of traders would have rich people only. Other than that, in order to use a bot efficiently, a trader must have a sound knowledge of not only this profession and his asset, but the bot too. Especially bitcoin traders must not depend on such bots.

[Colt81]

Automation is good for traders that are busy and can not spend most of their time to trade all day. But those traders which use automated trading method should also realize that profit will be reduced since its been traded by a bot, they wont be able to partake in any BTC sudden surge in price.  And in order to be safe traders into automated trading should take out time to also have knowledge about crypto trading no matter how little it is

A beginner should understand trading bot will make the things easier but will not make the profits for us to be easier in history there are lot of scams and losses also happened due to bots so for beginner they should try manual trading method than looking for automation because bots are really a thing for pro trader who keep trading 24/7 not for the one who don't have enough time for that.

Depending on bots rather than one’s own skills and knowledge is not appreciated by me either. If it was possible to succeed in trading, then the world of traders would have rich people only. Other than that, in order to use a bot efficiently, a trader must have a sound knowledge of not only this profession and his asset, but the bot too. Especially bitcoin traders must not depend on such bots.

Dependcy on automated trading or trading bots are not really effective to used in trading because it only serves as a guide or a backbone for beginners in trading and for people who can't manage their trade every time, that is why it will not actually help you to make a huge profit on your trade. Trading manually should be advised for every trader because it is still the most effective way to trade that you only follow your strategy to earn huge profit or to make a successful trade.