I am totally clueless about trading bots. How do they work? Are they profitable? How much would one cost? Can I make my own? Any helpful online resources would be appreciated. I cant wait to hear you guys' advice!
They work differently depending on what type of bot you want. They automate some to all of trades for you. Some are free to download but watch for virus - look for solid community feedback before downloading. Anything which makes a ton of profit isnt for sale i would guess. Other people can chime in now
I agree with you about this. I used to be stolent 3BTC because I downloaded a trading bot software by someone at Poloniex's trollbox
So, be careful !
Yes and i say also, please be careful with every kind of free software bots!
Many months ago i have set up a separate computer for testing all free bots which i was able to find on the internet. Non of them worked like they should. Mostly it was not a bot. But for sure it was software which installed some files in the user folder AppData and other folders (on windows). This files are difficult to delete, mostly they are back after a restart. It was software which searched for the wallet.dat on the computer.
So please never try a free bot from a unknown source ! NEVER !Further i looked for altcoin trading bots witch i can purchase for BTC, for example on the forum here. I found some, Haase bot and a other one which you find under my first posts on bitcointalk at the beginning of last year. But i really don't like to spend my money for something what i don't like later maybe. I tested some demos, but i don't liked them... All the bots needs a registration and mostly a continual connection to a central server from the bot producer. Somehow i believe this provides a good choice to manipulate all bot at the same time due to the bot producer. That's why i never bought a bot. But i was short before to buy one for trading on cryptsy...
At autumn last year i saw a youtube video and found here a thread about the QUATLOO trader. It's a altcoin auto trading software created by markus romanus. The first version was only for bittrex. I was fascinated by his idea! Because you need to hold a amount of quattlo coins on your balance on bitttrex to activate the functionality of the bot. QUATLOO coin is like the key you have to buy. And you can sell the coins at any time if you decide this... All the other bots i can't sell easy if i don't like them later.
The newest version need some more QTL but it supports bittrex, cryptsy, poloniex and also arbitrage between this exchanges. And the creator plans more updates and the integration of more exchanges in the near future.
By the way, i prefer to use the interface from the bot to place orders instead the web interface. Its really cool and much more comfortable. I start the trader software and don't use the browser to log in on the website (since months now)
