Trading bots on Binance

[justdimin]

I have no idea whether it is possible to make profit using trading bot. But I know that to make profit from trading you need to have good experience in trading otherwise you will have more losses instead of profit. There are some people who start trading without understanding.  It is very difficult to make money from trading thinking that you have lost all your money. I think making money from trading is as difficult as it is easy. It is very difficult for people who start trading without understanding to make money from trading.

The bots are not using their brains but only automating the lengthy processes while also eliminating human error. So all the experience and knowledge you have remains as it is, the bots and tools are only helping you polish the skills and automate the process.

Not a fan of bots myself because of the type of trades I do. But in some cases, bots can indeed help you as I have seen it myself.

Eventually, it depends on how you trade and whether you need a bot to assist your trading. If you think a bot will make money by itself then you are mistaken because no such bots exist or they wouldn't sell it.

[|MINER|]

Bots usually don't use their own brains. I think the trading should be done by self.  It is not known exactly how much the bot will understand the situation in the market. The bot won't do the same as you trade with your intelligence because it's a mechanical process.  Trading should be done with own experience and intelligence.  Although it depends on one's preference, I would say it is better not to use bots in trading.

[FanEagle]

They have been around for a while and I think that is going to be something that only a smart person who knows how to trade would check up on. If you are trading yourself and making money, trying to make the bot to do something that you would do anyway is not that bad idea, you could use it like it's the extension of yourself and you would be able to make some money with it, it's like you, but in a digital format basically.

But the same goes for terrible traders, those people will have a lot of trouble and they will not make much money, those people should be careful with what they are doing and I think that is going to be the hardest part, I believe they are not going to end up with anything that would be all that easy to handle.

[FinePoine0]

Recently I came across trading bots on binance and found it interesting since they were giving the option to use geometric and arithmetic setups for trading bots for free.
Normally, third party trading bot providers charge a fees for using them on exchanges but here we have them directly from binance for free.
We have the option to use them for spot trading as well as futures which is good for short selling and leveraged trading although we should use them with high caution.
I just gave it a try and I think it's good to have an option. What do you guys think ?

About bot trading seems transparent to me because not all traders who are there can always research the market. This trading bot will show you losses if you are facing losses, and will show you profits if you are making profits. This bot trading is useful enough to realize a trader more actively. Because if you are able to take trades at the right time by researching the market, you will be entitled to substantial benefits with this bot trading.

[JariKriting]

In Binance or KuCoin, using trading bots is suitable for those who do not have sufficient time for market analysis. In essence, trading with bots involves placing pending orders with predetermined take-profit levels. There is no significant difference between trading manually and trading with bots. so if you have time is good use manual trading normal trading

[lombok]

Bots have been very helpful so far. I often use bots when the market is sideways and bullish only. And it's enough to help provide profits, we also need to do analysis and settings before using bots. If we use it carelessly without analysis and setting, the level of loss obtained will also be large. Please note that bots also have the potential for errors, so don't rely too much on bots.