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Author Topic: Does auto trading bot make good profit ?  (Read 18957 times)
DoublerHunter
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June 17, 2016, 12:36:55 AM
 #41

Do not rely on auto trading bot, they are not that much genius which you are, you can trade more better than bots and can earn better than them.

Yes that's right because you are the one who will analyze and make a better decision than bots. Bots is for lazy people.

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June 17, 2016, 02:38:19 AM
 #42

I did a test with an automated trading bot a while back and even with highly customizable options, I was never able to "dial it in" where it would trade profitably, consistently.  It'd make a little here and there then turn around and make 10 losing trades in a row for no apparent reason.  The cons definitely outweighed the pro of being lazy and overall my test ended in the red.

It's possible for a good trading bot to be profitable over time, but it isn't easy and most likely requires some degree of babysitting in order to ensure the code used continues to be profitable with more trades than not.

In my case it was obvious that some settings worked some of the time and some worked others... sometimes nothing worked.  The trick would be figuring out what works and when and then adjusting the trade options on the fly.

MHO - Don't use a bot, you'll do better learning the what and when and trading yourself.

I agree.  Trade without a bot for a long time to understand all of the moving parts.
Then you can better understand if a bot is good and what it is doing well or poorly.

And if you get adventurous you can develop your own and then you will have 100% control over what it does

Yes this is true without any doubts, but using a bot is still not good because bots do not have a brain so they cannot think about the consensuses of a thing they are doing..

And sometimes not having a brain can be a good thing.  Wink

True a bot cannot think about what it is about to do, it is up to the developer to infuse it with logic about what they want it to do.
Currently...Programs only do what people tell them to, if they do something wrong/bad/unethical it is the peoples fault, not the programs.
I can recall, on a few occasions, where coin wallets have done bad things, I don't see people saying "Bad Wallet", I see "Bad Dev".
Why are trading bots different?

oh, I went a little ranty there,  Cheesy
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June 17, 2016, 02:43:20 AM
 #43

Do not rely on auto trading bot, they are not that much genius which you are, you can trade more better than bots and can earn better than them.

Yes that's right because you are the one who will analyze and make a better decision than bots. Bots is for lazy people.

So you are saying that the people that control 25% of the NYSE daily volume through Program Trading are lazy people?
Well they may be lazy but, when they get it correct, I am pretty sure they make a decent amount of money.

Again I went a little ranty!!
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June 17, 2016, 05:48:40 AM
 #44

I think bots is not a good idea to make a good profit because they are only programmed to do the thing that they need to do. So, they will not see the and analyze the price movement if it will be higher or not. Better to trade by your own than using bots.
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June 17, 2016, 06:08:48 AM
 #45

Well, if you're "smart" enough to entrust you capital on a bot which only monitors graphs, and ignores news sources such as Twitter, bitcoinTalk, coinbase... all the financial news agencies. Then you probably deseve whatever "profit" you make
I am also thinking the same that why will a person leave his wealth fro the bot to play with, it is really a high risk for our wealth, the real traders will never ever rely on these bots for their hard earned money, but only those who will start to trade with only some satoshis.

 
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June 17, 2016, 06:34:20 AM
 #46

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?

yes and no.

but if you are looking for a magical bot that you just click a button and it makes you rich then i have to say there in none. especially if you don't know about trading and have to experience in the matter.

but bots can help you a lot in trading and watching the market and earning profit ONLY if they are coded well and you know how to use them based on your knowledge of the market.
i dont think it is very useful to use auto traing bots because as you can see the price is not very stable at the moment and when the price rise allot the bots does not see it on time so be careful always have a look self.

as i said it is not magic, it depends on how you (or the developer of the bot) have coded the bot. if you have foreseen all the variables and made appropriate code for it then it can be done.

computer on its own doesn't have a mind so you have to create all these situations in your mind and then translate it into coding (machine language) so computer can decide on your behalf. so it can be done but it is not easy.

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June 17, 2016, 07:42:33 PM
 #47

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?
The only thing that i suggest to you better to use manually because there's no sureness. it can only help you to manage and record some of your profit. no one become rich in bot depends in your strategy how you manage your trading using bot..
And also the price has a big fluctuations and big rise nowadays so in a sudden rise only those people can make profit who do trade manually, bot those who have set the bots for it , they will lose all the coins at a certain low price relative to that time.

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June 17, 2016, 07:53:40 PM
Last edit: June 18, 2016, 12:15:23 AM by JarBinks
 #48

And also the price has a big fluctuations and big rise nowadays so in a sudden rise only those people can make profit who do trade manually, bot those who have set the bots for it , they will lose all the coins at a certain low price relative to that time.

That would be true if the bot that was being used had not been taught to deal with the situation.
I am not saying bots are perfect and I am not saying they don't make mistakes what I am saying is that a good bot can be quickly educated on changing conditions and adapt.
In general bots do not follow the Ron Popeil philosophy "Set It..And Forget it", just like manual trading they need to cared for and loved.
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June 17, 2016, 11:32:48 PM
 #49

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?
If you're looking for a get rich quick scheme with no effort, then a bot really isn't the way to go forewards, in the short term a bot can react quicker and more efficiently than a human, and take advantage of the conditions so if that's what you're looking for then it may be ideal
However, i'd suggest a serious amount of programming knowledge, bots are not human, cannot adapt, spot changes or patterns and adjust, left unsupervised with no real knowledge of how they work they easily possess the ability to sap all of your resources with little to no effort, be careful

 
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June 18, 2016, 11:21:50 PM
 #50

And sometimes not having a brain can be a good thing.  Wink

True a bot cannot think about what it is about to do, it is up to the developer to infuse it with logic about what they want it to do.
Currently...Programs only do what people tell them to, if they do something wrong/bad/unethical it is the peoples fault, not the programs.
I can recall, on a few occasions, where coin wallets have done bad things, I don't see people saying "Bad Wallet", I see "Bad Dev".
Why are trading bots different?

oh, I went a little ranty there,  Cheesy

Very well said.  As with a lot of things, a trading bot is only as good as the developer behind it and the trader's ability to implement a profitable strategy.  You can have slick code and an active dev yet some will still lose money because they don't take the time to learn and understand what they're doing.  Conversely, someone with a few extra brain cells and a pound or two of effort can make a garbage trading bot work.

There is another good point you've touched on that's worth repeating and expanding... a bot doesn't think... it does what the developer/traders decide.

Besides what's already been mentioned, having a system that makes trades "without thinking" can be very beneficial if implemented properly.  In this case, "without thinking" is the same as saying "without emotion", which means the bot will execute trades that perhaps you or I may not due to emotions clouding our judgement.  It'll make the trades we wouldn't, or can't, and it'll only make the trades it is set to make.

There's good and bad on both sides.  Definitely an interesting discussion.
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June 19, 2016, 01:39:12 AM
 #51

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?

It has a good benefits of it because its automated but theres advantage if you are directly manage your trading because theres a chance that the altcoin will pump to the moon so if the bot set in only +1000 sats only.. You say that you should trade than this bot
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June 19, 2016, 08:20:00 AM
 #52

Well, it really depends on what you're looking for. Profits always will come with risks, remember that. You cannot only get profit without risks. And trading bots are just like trading. It involves risks.

It CAN make good profits, but it's not GUARANTEED.
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June 19, 2016, 07:55:01 PM
 #53

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?

I have seen many trading bots that are being sold here in forum like C.A.T but telling the truth i do not trust these bots, what if the developer has made a hidden feature and dumps all clients's assets (bitcoins,altcoins), nobody can guarantee that this can't happen. Also it is the opposite way pumping a price and then buying high etc. Maybe there is a profit using them but I believe that the amount isnt high.
Yes, we do not have to trust on them, it is a big risk to take, and also there are a lot of people who want the sellers to sell their coins at lowest price, so these are chances that someone work on it so as to dump the coins.

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June 19, 2016, 09:22:18 PM
 #54

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?

I have seen many trading bots that are being sold here in forum like C.A.T but telling the truth i do not trust these bots, what if the developer has made a hidden feature and dumps all clients's assets (bitcoins,altcoins), nobody can guarantee that this can't happen. Also it is the opposite way pumping a price and then buying high etc. Maybe there is a profit using them but I believe that the amount isnt high.
Yes, we do not have to trust on them, it is a big risk to take, and also there are a lot of people who want the sellers to sell their coins at lowest price, so these are chances that someone work on it so as to dump the coins.

If a bot dev (like me), who create bot to have a BTC revenue, put malicious code inside his bot (let's say a code that sell coin X without your permission) the only result will be the complete lost of credibility and customers.
I Agree when people say "don't trust bot", free bot for example without source code are dangerous.
But if you look at the bot history and dev feedback probably you'll be able to understand if the bot is ok and trusted or not.
In my case i'm selling my bot since 2013, and i have near 200 positive feedbacks...........so no reason for me to put bad code inside my bot  Wink
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June 19, 2016, 09:34:31 PM
 #55

Bots are intended to be aids to trading, not magical push this button and u get the many bitcoins. At the end of the day it comes down to the trader strategy and their inputs.
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June 19, 2016, 10:06:06 PM
 #56

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?
i'd steer well clear of trading bots for a good few reasons, one, for example is that bots follow rigid programming that it cannot break out of or adjust like a human noticing patters could
They are fine for short term, small profit however in the long run if you're looking for big gains, learn the system, do it manually, and you'll make far more

 
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June 19, 2016, 10:10:11 PM
 #57

Bots are intended to be aids to trading, not magical push this button and u get the many bitcoins. At the end of the day it comes down to the trader strategy and their inputs.

This is probably the best advice anyone could give you.

Bots should be used to make your life easier. Which would probably be, to highlight data and display useful information/news. They should be used to help professional, to accurately verify whatever decisions they take. They shouldn't, on the other hand, be left to make take the final decision.

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June 19, 2016, 10:11:39 PM
 #58

I have never tried a bot by myself. but I do not think that trusting a bot with you money is a good idea because you may loose all your money because of the unstoppable trades it executes. while when you open a trade by yourself, you think deeply about all the possibilities.
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June 19, 2016, 11:25:03 PM
 #59

Bots are dangerous. You need to know and trust their origin. You don't have any way to know if it has malware or something like that. Besides, you still need to manage it, otherwise you might get huge losses.
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June 20, 2016, 12:56:37 AM
 #60

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?
Yes, you can make profit with automated trading bots, but it's still risky.
For example, if the trading prices suddenly drops.

 
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