Does auto trading bot make good profit ?

[Polar91]

I dont think automatic bot can take profit.  . Why do you have this idea?

It can however it's not too reliable and your profit couldn't be maximize at the same time. Unlike in manual trading, you can really apply various technique and you can do it by your own terms. This is the reason why I'm nog always interested in bot trading.

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[dat.ho12492]

I would highly say no to those bots. These automated trading bots are not perfect, and they’re making mistakes and errors too. It means I don’t trust these bots once and for all, if we’re after the profits.

However, if there’s a copy trading platform like Etoro that is more on cryptocurrency trading, that would be good as long we pick a nice trader to copy with.

But for now, it’s better for us to learn the basics of cryptocurrency trading until we scale and level up our skills. There are lots of Youtube videos you can find about profiting on cryptocurrency trading.

Almost all experienced people say no to trading bots because they have experimented a few times with bots, even participating in communities related to this tool, the results are quite good but somewhere, this tool is still limited, sometimes it will appear a lot of errors, and trading is a job that does not allow many mistakes. And trading bot seems to be rejected by many people, myself, I'm not too interested in trading bot when I always believe that human skills are better than those programmed and designed.

[Jating]

I dont think automatic bot can take profit.  . Why do you have this idea?

It can however it's not too reliable and your profit couldn't be maximize at the same time. Unlike in manual trading, you can really apply various technique and you can do it by your own terms. This is the reason why I'm nog always interested in bot trading.

We also have to understand that after all, it's just a bot, is still needs human intervention to facilitate everything. Now, if you don't have any experience in doing manual trading, then how can you successful set all the parameters in order to maximise your profits?

That is why at least we need some experience before getting our hands on any trading bots. Most bots are far more advance now, and its very difficult to adjust the parameters yourself if you lack the needed experience. Yes, trial and error, but it will cost you lots of money in the beginning. So it's better to learn some basics to mid level knowledge before trying a trading bot, in my opinion.

[pinkpanther03]

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 ?

First, if that is true for sure all traders now are not doing anything but to sit and relax while monitoring the bot they use and waiting for their earnings. But unfortunately it is not precisely giving 100% profit. So, it is still good to base our idea in own understanding in trading, in short it is good to use our own technical analysis dude.

[shulc7]

That surely depends on your logic. I built my own bots, with different logics (Arbitraging, sentiment analysis, TA, etc), some worked for a while, some didn't, but yes some of the bots made me some profits for a few months

Cool. I have heard about guys, who make different bots and get benefits from them but I never tried it. I agree that auto trading can be a risky thing, but it works well for people, who have a main job and do not have too much time to make pairs and go through long and difficult calculations, technical analysis and whatnot. Bots simply make the work of traders easier.

[Nellayar]

No do not try this, as no one knows that what will be the strategy of bitcoin at which time, so how a bot will do a trade for you in this situation, try to give some time to your business/trade in that you will be able to earn a good amount of bitcoins, as trading is the more attractive and beneficial business of the world.

I do not use trading bots because I have a fundamental knowledge in trading and I do not need trading bots specially bots are sometimes hassle to use. And trading bots is not reliable because they are AI only. Many of my friends are also using bots but they lose a lot of capital in trading. We need to learn in trading and do not depend only in bots.

[richard7777777]

Think about this.

You create a bot and put a lot of effort in it.
You test it and you notice it make you a good profit.
Why should you share it with others, knowing that the strategy you put in the bot, most likely will have profit decline's once too many users, start using the bot?

There are a few kind of bots. The bots what makes automated trading, based on technical indicators.
You can tweak this and often backtest it. However once you tweak a system it's more like wishful thinking. You tweak based on data from the past, optimize it so it gives you the best parameters,  based on the past.
So now you think you've found the holy grail and start to trade with a live account.
But it seems it doesn't work that well, so you tweak again, and again it doesn't work as expected.
Bottom line, these kind of bots barely make you any money.

THere are also bots based on

• AI algorithms  (you can find 1000's of them in https://www.quantconnect.com)
• social media events
• telegram groups
• event bots

and the list goes on and on. Some of these bots might give you nice profits, but you won't find the money making machine here either.

bottom line is that barely nobody is willing to give or sell you their secret of a real profit making bot.

[Dr.Osh]

I have never used bots in trading matters, but I think people will always change the bot scripts that they make to adjust the price increases and decreases at certain times. my advice, if you want to trade, do not use bots, because it requires special attention, and when you leave it, it can be lost. meanwhile, trading manually will increase your skills and the way you look for information. it's better than looking for a new bot script when the old one can't be used, other than that, I don't want to hang my hopes on a script.

[Jan from Acai.dev]

As some pointed out already, generally speaking bots are made to save you time, not generate huge profits. Anyways, I thought I could share a flowchart I made about bots, take it with a grain of salt

https://twitter.com/acai_ai/status/1215010669877252097

[Shasha80]

Trading bot is only used by traders who have the ability and experience, because trading bot does not run by itself. Must be set
by the owner. And if the owner does not have good trading skills, it will be very dangerous. So in my opinion, avoid using trading bots.
Better to do trading manually is more profitable, don't be lazy to do analysis and practice. And also don't ever stop learning knowledge
of trading, continue to educate ourselves. That way is better than using trading bots.

[nydiacaskey01]

It depends on the settings applied by the bot owner or users. Keep in mind that Bit will not choose the right coin for you to buy, its still the user who will select that. Its also the user who will enter the right settings, meaning user will set the right timing when the bot will buy or sell the coin that the user selected. With all this in mind, this means Bot will act only based on the commands of the user. The advantage of having a bot is if you have not much time to trade, Bot will do that for you minus the emotions or FOMO.

[coin_1122]

As some pointed out already, generally speaking bots are made to save you time, not generate huge profits. Anyways, I thought I could share a flowchart I made about bots, take it with a grain of salt

https://twitter.com/acai_ai/status/1215010669877252097

I have tried many times through Bots which leads to losing my money even though I have predicted rightly. The current situation of the market is completely downtrend which always the price of altcoins kept decreasing, which this makes most of the people who are using bots are losing their money. Based on the market situation we have to use the bots.

[Savemore]

There are people who say yes and there are people who say no but one thing is sure trading bots are not holy grail where we can guarantee our profit. There are now many articles in the internet saying trading bots suck and it is better if they will trade on their own. The image of trading bots are now tarnished because of the losses that traders are keep experiencing but for me it is their own fault, if they did not use trading bots then they will avoid major losses.

[Karmakid]

Auto trading bot makes good profit if you have a good strategy to program with it. It always depend on the commands or codes that you will right with it. I know a lot of people that are profiting from their trading bots but I am still hesitating to try it because I know that it is still better to do manual trading because it will help me to learn more.

[iv4n]

There are people who say yes and there are people who say no but one thing is sure trading bots are not holy grail where we can guarantee our profit. There are now many articles in the internet saying trading bots suck and it is better if they will trade on their own. The image of trading bots are now tarnished because of the losses that traders are keep experiencing but for me it is their own fault, if they did not use trading bots then they will avoid major losses.

People have different experience, and that is a normal thing. Think about auto trading as auto dice betting, just trading bot is more complicated than dice bot, in every way. Even thou there are some advanced dice bots, I didn't come up on any special one, I tried couple trading bots but without big success. I think that bots are holy grail among people, people would like to find a perfect one and to get passive income from that, but I think just 1 in 100 manage to make profit in the long term with any kind of bot.

[Wipeout2097]

As we all know this is era of Artificial intelligence (AI),I t is possible that Bot can do trading but these trading bots are in testing and initially stage.It will take a time to get a trustworthy and winning bot generations.

Till now no one bot available do always winning trade for you,claimed by I.Q option authorities. It is better to improve more knowledge about trading and get education from different platforms like BITCOINTALK,Rather waitnig for bots.

[bettercrypto]

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 ?

There are case that auto trading is good, but most of the time I do not trust with it. Instead, I am studying a lot for my trades so that I never regret with my execution. It is not good to depend our trades only in bot because there is no assurance that it will make profits. As we know that no one ever predicted the price of bitcoin correctly.

[tungaqhd]

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 trading bots can make some good benefits, however it can only do what it is programmed (your strategy) so it won't trade better than you. Many bot contain virus or malware so i think you shouldn't use it.

[zeingrind777]

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 ?

Trading bots are not very good. Automatic trading bots are only programmed to execute orders such as buy or sell and place Stop Loss exactly as the program formula. Trading bots are also less able to adjust to certain market conditions because basically the way of thinking of trading robots is designed linearly, while at the time of news release the movements move fluctuated and randomly.

[Linkkoin]

Trading bots are not very good. Automatic trading bots are only programmed to execute orders such as buy or sell and place Stop Loss exactly as the program formula. Trading bots are also less able to adjust to certain market conditions because basically the way of thinking of trading robots is designed linearly, while at the time of news release the movements move fluctuated and randomly.

Some of this issues can be potentially addressed by quantum computers. Of course not in the next 4-5 years but in more or less foreseeable future.