Should I buy Gunbot, the automated trader ?

[Red_Sanford]

I purchased the gunbot 8-9 months ago thinking that this would be an easy way to increase my stack of bitcoin.

This is what I found out

The information spread out amongst a wiki, github, 2 telegram groups and the forum. There is no organized way to learn about the bot.

They have what are called rolling releases.. meaning that Each update attempts to fix bugs in the previous version and adds new bugs of it's own. You will only find out about the bugs when you can sift through all your transactions to see why you sold something at a loss or why did it not sell at all. Sometimes there are ways to avoid the bugs, how will you know ? Because it will be posted in one of the above mentioned avenues of communication. Forget about facebook because you will spend your days scouring through the different mediums to find out the details of the bugs


Can I lose money with the bot ? Absolutely.

Can I only lose money if I am trading shit coins ?

No you can lose money from the bugs that caused you to miss the sell or cause you to buy above your set price.


If I don't like the bot or can't figure it out I can resell it right ?

Good luck with that. The forum is full of people who are trying to sell their bots but are unable. https://gunthy.org/forum/index.php/board,47.0.html Along with the mandated minimum pricing schedule that is imposed. The minimum is imposed so that Gunthar can still sell new licenses and sales because all of the used bots will eliminate the demand for new ones.


But there are a bunch of people in the gunbot thread saying how much money that made so quickly and easily.

 They are shills ! Look at how many posts they have. Most of the those are from brand new accounts with less than a few posts. The others are nothing but leaches that have made a side job of shilling everything from settings, to scripts, to escrows relating to the gunbot.


So are you saying that nobody is making money with the gunbot ?

No, if you want to invest  a lot of hours to learn about the bot and continuously monitor the chats to find out about the bugs and spend an hour or 2 each day to baby sit the bot Yes you can make money.

It's automated trading right ?

Yes the bot works by itself but you are going to invest a minimum of 10 hours a week babysitting the bot and monitoring github, telegram and the forum. Don't believe for a second that you are going to set this up and forget about it or that you will only check it every few days


My verdict was that if I am going to spend a few hours each day to tend to the bot then I might as well just do manual trades. Hence that is what I have done. If you read this and still want to buy the gunbot then contact me and I will sell you mine through an escrow

If someone is telling you to buy it ask yourself if they are involved somehow in the Gunbot space. Selling something related to it. Are they profiting from trading or profiting or some other way related to Gunbot

[achlyss]

just use your mind for trading in crypto, that is more better than used bot, feel your sensations

[nerijusvinyl]

i little too hard you're here i think... of course  this bot is not for newbies, it's for pro trades who have own strategy's and is about to get it automatically.
im newbie as well, and i've seen how ' unfriendly ' gumbot is  for a people who just starting out. You know what i did? bought alternative witch im happy as hell with. if you choose gunbot first and haven't done your own research about alternatives i dont think its gunbot fault.

[jakezyrus]

i little too hard you're here i think... of course  this bot is not for newbies, it's for pro trades who have own strategy's and is about to get it automatically.
im newbie as well, and i've seen how ' unfriendly ' gumbot is  for a people who just starting out. You know what i did? bought alternative witch im happy as hell with. if you choose gunbot first and haven't done your own research about alternatives i dont think its gunbot fault.

even if your a pro trader i think these tools cant still assure or guaranteed you that you can make an automatic profit on it because not all the time the markets are high and of course sometimes it can still go low or the coins can somehow drop due to the fact that they are volatile. overall i think these kind of software is only for the person who is busy enough and does not have enough time to check or do trades manually day by day.

[nerijusvinyl]

that's right. you still need to follow trends and look after it.
the problem is, and im not talking only about this thread  author... when people do mistakes or something does not work out as they might imagine it would, they start blaming everyone but not themselves. there's no where to go if think that way. we all grown up here so take the responsibility and move on. i didin't like gunbot so got different   one thats it, simple as that.
understandable the author is mad, since gunbot is really too expensive in my eyes, but you decide to buy it, so less negativity and move on

[Idrisu]

I purchased the gunbot 8-9 months ago thinking that this would be an easy way to increase my stack of bitcoin.

This is what I found out

The information spread out amongst a wiki, github, 2 telegram groups and the forum. There is no organized way to learn about the bot.

They have what are called rolling releases.. meaning that Each update attempts to fix bugs in the previous version and adds new bugs of it's own. You will only find out about the bugs when you can sift through all your transactions to see why you sold something at a loss or why did it not sell at all. Sometimes there are ways to avoid the bugs, how will you know ? Because it will be posted in one of the above mentioned avenues of communication. Forget about facebook because you will spend your days scouring through the different mediums to find out the details of the bugs


Can I lose money with the bot ? Absolutely.

Can I only lose money if I am trading shit coins ?

No you can lose money from the bugs that caused you to miss the sell or cause you to buy above your set price.


If I don't like the bot or can't figure it out I can resell it right ?

Good luck with that. The forum is full of people who are trying to sell their bots but are unable. https://gunthy.org/forum/index.php/board,47.0.html Along with the mandated minimum pricing schedule that is imposed. The minimum is imposed so that Gunthar can still sell new licenses and sales because all of the used bots will eliminate the demand for new ones.


But there are a bunch of people in the gunbot thread saying how much money that made so quickly and easily.

 They are shills ! Look at how many posts they have. Most of the those are from brand new accounts with less than a few posts. The others are nothing but leaches that have made a side job of shilling everything from settings, to scripts, to escrows relating to the gunbot.


So are you saying that nobody is making money with the gunbot ?

No, if you want to invest  a lot of hours to learn about the bot and continuously monitor the chats to find out about the bugs and spend an hour or 2 each day to baby sit the bot Yes you can make money.

It's automated trading right ?

Yes the bot works by itself but you are going to invest a minimum of 10 hours a week babysitting the bot and monitoring github, telegram and the forum. Don't believe for a second that you are going to set this up and forget about it or that you will only check it every few days


My verdict was that if I am going to spend a few hours each day to tend to the bot then I might as well just do manual trades. Hence that is what I have done. If you read this and still want to buy the gunbot then contact me and I will sell you mine through an escrow

If someone is telling you to buy it ask yourself if they are involved somehow in the Gunbot space. Selling something related to it. Are they profiting from trading or profiting or some other way related to Gunbot

If you know how to analyze the market using technical and fundamentals analysis you might not need to buy Gunbot. If I am going to used 10 hour weekly to baby seat the bot then I will preferred to remain a fundamental analysis by just listen to issues coming out from the crypto currencies news sites, by this one can really make good money and have good time to do other things. I lose good money when I was using a robot to trade forex and since then I have decided to trade myself.

[tkwyoung]

I don't trust bot for trading at all. Unless you have someone to write a special bot for you yet you can't buy it in the market. That would be very expensive.

I provide daily Fresh Short - mid term signals and I just trade myself. That way is safer to control the loss.



https://t.me/pumpactions

[Red_Sanford]

that's right. you still need to follow trends and look after it.
the problem is, and im not talking only about this thread  author... when people do mistakes or something does not work out as they might imagine it would, they start blaming everyone but not themselves. there's no where to go if think that way. we all grown up here so take the responsibility and move on. i didin't like gunbot so got different   one thats it, simple as that.
understandable the author is mad, since gunbot is really too expensive in my eyes, but you decide to buy it, so less negativity and move on

I am taking responsibility and moving on. This was a warning to others who might be thinking about buying it. I only paid a few hundred dollars for it.

Sure would have liked to have been able to sell it and recoup my money. That .15 bitcoin spent on the bot would be worth more if I had just held it than spending it on the bot

The point is that it is not automated trading, full of bugs, scattered info and lots of shills who are making money off gunbot services and not the bot itself.

[Red_Sanford]

Great article on trading bots and info about some free ones where code was copied for gunbot
https://bravenewcoin.com/news/cryptocurrency-trading-bots/

Despite the promises of Gunbot

Trading Bots are Tools, not Passive Income Generators
The most important thing to highlight when it comes to cryptocurrency trading bots is that they are not a one-stop passive income solution that will make you money in your sleep. The bots that promise you that will most likely turn out to be scams and will end up losing you money. 

The more sophisticated crypto trading bots allow you to set specific parameters at which the bots execute trades on your behalf. These parameters need to be backtested as well as adjusted as you go along. The cryptocurrency market is growing and evolving on a daily basis. Hence, trading strategies need to be updated and adjusted to function in new market conditions as well.

It is possible to generate a trading income using bitcoin trading bots as these programs use historical price data combined with parameters used to find trading signals on which to execute trades on. If you deploy the right strategy and regularly adjust your bot’s settings, it can be a great tool to help you with your cryptocurrency trading decisions.

However, crypto trading bots are by no means a set it and forget it solution to make money in the cryptocurrency market and should only be used with small amounts of capital as the risks can be higher than if you simply trade yourself.

[dennisch123]

Although this is an old topic I share the same experience as OP. You'd think that after three years of development most bugs have been caught but as OP said, with each new version new bugs are probably introduced.

My experience in short:

- After changing settings in the GUI, the bot sometimes freezes, the only way to get it up and running again is by restoring the original config file (I didn't edit the config file manually) so this should not have happened, even once, still it happened twice in two days, forcing me to re-enter all my settings, including the API keys, strategy settings, and trading pairs. Very annoying.

- Random errors, literally random errors without a message attached to them, I checked my internet connection multiple times to see if it had anything to do with it but my internet appeared stable, I have Fiber internet for what its worth.

- Buying conditions met but it doesn't buy at all. Additionally: I entered additional settings like RSI < 30, still, it bought twice when the RSI was 37 and once when ti was 42. The same applies to sell, I had the setting at RSI > 60 before selling, it sold when RSI was at 49 instead.

I think I could live with the random errors as it didn't seem to affect the performance of the bot, however, changing settings, the bot freezing and losing all settings is very annoying. Once the bot froze for no reason while I slept, and during that time it missed a sell order. We're talking about money here so these things shouldn't happen.

As for the freezing after a settings change, the solution: don't change your settings or keep a backup before you change something. I could do that to work around it of course.

But the biggest problem for me is the bot buying when it isn't supposed to buy (paying too much), and selling when it isn't supposed to sell (selling too cheap). Sure you can add additional settings like only sell at x% profit but I leave that field empty on purpose, for the simple reason that when you use a Bollinger band strategy and prices drop instead, you might want to get out at break-even to reduce your losses to a minimum, while if you set that you want at least 0.5% profit your losses might turn out much larger, heavily affecting your overall ROI.

I had high hopes for Gunbot but unfortunately, it's too unstable and requires too much babysitting. If I wanted to watch charts all day I could just as well be trading myself.

[panpine]

Use the bot very well but not by yourself to work, you do not have enough experience can learn to become better traders do not abuse the bot.

[omonuyak]

I did not know how gunbot automated trade work and I cannot really offer advice on this and trading should be what we should do ourselve as it deals with human emotions.  I have used auto trader when I was trading forex but one thing that is common is that there are always associated with lose.