Do you use a bot for trading?

[el kaka22]

I have used bots for on demo accounts and to trade very small amounts, these amounts are worth less than $10, this was just to see if the bot works well and if it makes the profit I expect. The bot was very successful in making profit the majority of the time however it was when there were large changes in price, anything where the price changes by over $20 in a few minutes, that things started to go wrong. Because of this i mainly trade manually.

Thank you very much for sharing your experience. It must be really a great help to this community. I really appreciate it.

Bots are working as per predetermined parameters. So, expecting them to perform well for all type of market conditions is completely meaningless. If we are having some knowledge on setting up those parameters, we will be get chances to make them work according to market conditions but it is not for beginners, only advanced traders could do this.

[carap]

There are few reasons why one might want to use a bot:
1. Bot may work 24/7, obviously protein-traders are much more limited in this sense.
2. Bot has no emotions, thus may keep following a predefined trading strategy, no matter what happens.
3. Bot makes no mistakes! (once I wanted to place a sell order for 640$, I was tired and disturbed and I entered a price of 460$ - executed immediately)

Personally, I trust bots more than various asset managers.

[exscudo]

I trust bots more than various asset managers.

Beg your pardon, do you have practical experience with bots? Do you write their code or you just buy them? Quite interesting to hear someone`s opinion on that matter, who is into bots.

[carap]

do you have practical experience with bots?

A lot! I assume that should be clear from my post. 

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

[Pamadar]

do you have practical experience with bots?

A lot! I assume that should be clear from my post. 

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

even you have a bot you still needed to look on your investment you needed to input information on how make your trade successfully i think its use just if its needed when you are going to leave your trade for sometime but me i still prefer to use my own knowledge when im trading.

[carap]

even you have a bot you still needed to look on your investment you needed to input information on how make your trade successfully

Absolutely! As I said, it is only a tool to automate some routine processes.
It's like driving a car - it is faster than walking, it may carry weights, etc. But you can't just enter the destination address and let it drive there on its own (that be risky even with Tesla). 

Bot is absolutely useless for the buy and hold strategy, but sort of essential for high-frequency day trading (like scalping).

How many orders a protein-trader may place during one day (OK, during two hours)?
How many mistakes (i.e 0.0000021 instead of 0.00000021) is likely to be made?

[Newcoins2020]

No I'm not using a both to trade any of my altcoins because I think that using a bot will not even help you, I even think that it can destroy your strategy and that it will let you lose money on a long term.
I think using these bots is simply not worth it and we should also not do this too.

[adi33]

I just know if I can in trading bot. but to my knowledge it open that often do bot dev coin itself? usually in yobit every day there are bots coins intended that traders buy their coins first time I ever get to know my initial trading and my BTC sold-out

[ivanst776]

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

I have seen only one "trusted" bot here in forum and that is C.A.T but still I don't trust any of the them.

All of the time for trading I don't use bot and I trust enough myself even though I'm not more efficient rather than bot.

[Sampey]

I have seen only one "trusted" bot here in forum and that is C.A.T but still I don't trust any of the them.

Well yes i'm trusted 
I started selling my bot in 2013 (it was only a Cryptsy Bot) and never stop since them, with near 1 release every 20-30 days.
Now after near 65 release (20 beta + 44 Official) C.A.T. works on 18 exchanges and i have 200 Positive Feedbacks on my profile (this is why i'm trusted  )
Another reson for my trust is that C.A.T. is a DESKTOP Application and i don't own private user key (and anyone could run C.A.T. inside a SandBox and check if there's some "strange" http call other than the Call to the Exchanges)

 

[arunka71]

Working on bot code myself.

I think there are simple and efficient strategies, that only bots can do, because they require to fetch and calculate a lot of data constantly. So in a way, most bots are not really a competition for technical traders looking for swings and such.

[stadus]

Working on bot code myself.

I think there are simple and efficient strategies, that only bots can do, because they require to fetch and calculate a lot of data constantly. So in a way, most bots are not really a competition for technical traders looking for swings and such.

That's impressive dude, if only I know how to code I would have make one for me or maybe share it with others so everyone will be happy and will make money.

Anyway, good luck to your experiment, and if you wish to share it please let me be the one to try it.

[wintermeasures]

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

No I Never Used Bot For Trading Because It is Not Allowed By Most Of The Trading Websites And If I Use It Then The Website Could Ban me For Breaking Their Rules....
Also I Suggest You Bro Do Trading Yourself and Don't Use Bote For Trading....

[JeffBrad12]

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

No I Never Used Bot For Trading Because It is Not Allowed By Most Of The Trading Websites And If I Use It Then The Website Could Ban me For Breaking Their Rules....
Also I Suggest You Bro Do Trading Yourself and Don't Use Bote For Trading....

This is not about for banning or breaking the rules, the another worst thing you can get infected a malware from the software, because that is from the another people is you're not know him. and for reducing the chance, never using a bot for trading.

[leero9]

I was planning to have a highly skilled coder develop one for me, but I as a noob when it comes to code don't know whether or not he didn't add a line of nasty code where he can access my account.

That's for me the main reason of why I don't use a bot for my trading.

If you did manage to find an honest and skilled developer, what would you put in your bot?

[leero9]

do you have practical experience with bots?

A lot! I assume that should be clear from my post. 

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

Appreciate your sharing!

If I may ask, what strategy did you employ on your bots? hope you can share some insight though i also understand if you don't want to..

[Caladonian]

do you have practical experience with bots?

A lot! I assume that should be clear from my post. 

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

Appreciate your sharing!

If I may ask, what strategy did you employ on your bots? hope you can share some insight though i also understand if you don't want to..

good thing mate if there's something that can be shared here regarding how bot should be coded it can be a great help and advantage to all of us who's really trying to make some success trading hope someone can added it up here OP good luck.

[carap]

I Never Used Bot For Trading Because It is Not Allowed By Most Of The Trading Websites

wintermeasures, can you be more specific when making statements like this one? Could you give a quote from rules of any reputable crypto-trading platform clearly stating that bots are prohibited?

Here I would like to refer to Sampey (creator of C.A.T) -

"Exchanges are very happy when bot comes in play : they generate a LOT of volumes and more volumes = more fees."

+100!

how bot should be coded it can be a great help and advantage to all of us who's really trying to make some success trading

Coding bot has nothing to do with success trading. Knowing how to sharpen a knife will not make one a good plastic surgeant
Most of the code can be found in API sections of trading platforms (i.e https://www.kraken.com/en-us/help/api#example-api-code)

I normally begin with creation of some sort of the simple terminal that allows placing/cancelling orders and printing the list of executed/active ones. When I have these building blocks implemented and tested I may proceed farther to the strategy automation.

[pooya87]

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

i have searched for this for a long time, you can find my topics back in 2014 asking for open source bots and free bots ,...

finally i started learning a programming language and made myself a bot which i am constantly developing and i use that.

That's really great! Wish I had your tenacity to learn programming from the ground up..

Could you share a little about what your bot does or what functions it has?

i didn't learn programming from scratch, i had some background in programming back from college and i only build up on that.
it really doesn't have that many options, although i add new ideas if i have any from time to time. it is pretty basic trading and some super secret algorithms that i am working on

as others have mentioned you have to have a strategy first then think about a trading bot.

[dunfida]

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

I have seen only one "trusted" bot here in forum and that is C.A.T but still I don't trust any of the them.

All of the time for trading I don't use bot and I trust enough myself even though I'm not more efficient rather than bot.

I saw that CAT  too but  i dont  have any interest  to get one of those because  i dont have trust  when they handle  my trading  , its better to decide on your own will and  does  not depend  fully on bots because  results  maybe worse  when you intend to rely on bot  but  thats  not always the case .