Do you use a bot for trading?

[layoutph]

I think bot is good to recognized patterns to detect if it is a breakout, good to place a buy or sell a position. But for me thats the only role of a bot: to detect a position.
Casting a position is upto me. I dont want to make a bot to make decision for me.

[Vikingr]

I think bot is good to recognized patterns to detect if it is a breakout, good to place a buy or sell a position. But for me thats the only role of a bot: to detect a position.
Casting a position is upto me. I dont want to make a bot to make decision for me.

I think the starting of trade with bot is only for emergency case at the time when the trader will want for to catch a good timing for to buy or sell as people often in their break time lose a good chance of buying or selling their coins. So with bot they will have everything set up

[Sled]

As an average type of trader. I don't use bot for trading because it makes me worry and uncomfortable when i fully let the bot do trades for me. I'm not used to get bots and let them work for me because i'm used to do manual trading which makes me enjoy trading and it is fun as usual for me because it challenges me everyday unlike in automatic trading, it just for lazy people.

[SamsungBitcoin]

Me i do not used bot in trading because im the one who monitor my trade coins because now i am learning some easy patten on how to do manual trading and how it will works.
And i do not also trade in more altcoin i only trade with two or three because i do not take big risk for my investments.

[deisik]

As an average type of trader. I don't use bot for trading because it makes me worry and uncomfortable when i fully let the bot do trades for me. I'm not used to get bots and let them work for me because i'm used to do manual trading which makes me enjoy trading and it is fun as usual for me because it challenges me everyday unlike in automatic trading, it just for lazy people

In fact, it cuts both ways

If the bot has no bugs, has been properly tested, and correctly handles all possible combinations of erroneous conditions such as when the exchange starts sending incorrect data (e.g. when the lowest Ask price becomes lower than the highest Bid price in the orderbook), you can be pretty sure that there won't be "fat fingers" and you won't mistakenly place a sell order instead of a buy order, especially in a hurry (i.e. in cases when you should be particularly careful)

[Sniper44]

As an average type of trader. I don't use bot for trading because it makes me worry and uncomfortable when i fully let the bot do trades for me. I'm not used to get bots and let them work for me because i'm used to do manual trading which makes me enjoy trading and it is fun as usual for me because it challenges me everyday unlike in automatic trading, it just for lazy people

In fact, it cuts both ways

If the bot has no bugs, has been properly tested, and correctly handles all possible combinations of erroneous conditions such as when the exchange starts sending incorrect data (e.g. when the lowest Ask price becomes lower than the highest Bid price in the orderbook), you can be pretty sure that there won't be "fat fingers" and you won't mistakenly place a sell order instead of a buy order, especially in a hurry (i.e. in cases when you should be particularly careful)

i am no expert in trading but you don't have to be hurrying when trading at all. you can always plan ahead, buy at the price you want and sell where you want.

for example with litecoin i placed my buy orders around 0.0039-0.0043BTC and bought some since i speculated a rise and even made a topic here about it. and then placed some orders at 0.006-0.007BTC range and made some good profit the day of the rise. no rush or anything like that and all without a bot.

[deisik]

As an average type of trader. I don't use bot for trading because it makes me worry and uncomfortable when i fully let the bot do trades for me. I'm not used to get bots and let them work for me because i'm used to do manual trading which makes me enjoy trading and it is fun as usual for me because it challenges me everyday unlike in automatic trading, it just for lazy people

In fact, it cuts both ways

If the bot has no bugs, has been properly tested, and correctly handles all possible combinations of erroneous conditions such as when the exchange starts sending incorrect data (e.g. when the lowest Ask price becomes lower than the highest Bid price in the orderbook), you can be pretty sure that there won't be "fat fingers" and you won't mistakenly place a sell order instead of a buy order, especially in a hurry (i.e. in cases when you should be particularly careful)

i am no expert in trading but you don't have to be hurrying when trading at all. you can always plan ahead, buy at the price you want and sell where you want

I guess that's the key point

It is good and nice to be on the right of the trade ("placed my buy orders around 0.0039-0.0043BTC...  then placed some orders at 0.006-0.007BTC range and made some good profit"). Indeed, there is no hurry. But how much did you earn in absolute terms, a few satoshi? Now think that you bought some coin with half of your trading capital (or with all of it), and the price immediately started to crash with neither remorse nor reverse. Okay, at some exchanges you can add Stop-Limit orders (with the Stop part preventing you from inflicting heavy losses). Otherwise, you would convulsively try to close your long position in panic with your arms trembling, your armpits sweating, and your head spinning, so instead of hitting the Sell button you reflexively hit the Buy button and thus add to your losing position instead of closing it

[bitbunnny]

I have never used bot in trading. I simply don't have that much trust in something like this and leave the bot with my funds. There are also different bugs, viruses and similar stuff so I just rather do it by myself. And so far I haven't heard of any experiences where bot actualy helped in trading results.

[Sled]

I have never used bot in trading. I simply don't have that much trust in something like this and leave the bot with my funds. There are also different bugs, viruses and similar stuff so I just rather do it by myself. And so far I haven't heard of any experiences where bot actualy helped in trading results.

That's right there is a lot of bots available online but most of them are too malicious and they may contain viruses, malwares and different kind of things that can harm your computer. It is best to just stick with manual trading because it is not that hard to trade manually and it also helps us to become a smarter trader.

[wuvdoll]

No i do not use a bot when I'm trading because i think it's much safer if i trade instead using a bot. I think bots are less effective when i use it in trading, so it's better if i do the trading. And I'm always active so i will really do the trading.

There are some significant advantages of using bots, I like to suggest to check with them. Like bots are capable of analyzing markets round the clock. When we are sure about one trading bots, it will be equivalent to you got some employees to make money for you. But it will not be that much easier to have such bots, but just imagine how it will be good when your are having some people working for you  

There are few bots in market which will do 90% of your trading works automatically and only final decision will be yours. Once you decide and finalize, it will do the rest of 10% works to get you profits.

Theoretically I think a bot could work. Designing it would be difficult though. You would have to either have a complicated enough algorithm to deal with all the changes and different scenarios or only make it activated for a small subset of cases.

It does sound like an intriguing idea to me. I haven’t been able to make or use one but I think that would be an awesome idea. It would just take a very smart person to deal with all the variables there would be.

[Blackdeath]

I had experience of using bot for my trading. The problem I faced with the bot was I need to set up moving average kind of parameters so that bot detect swings and will place orders, but the bot I used, generated fake calls on news hours, so I forced to trade only on non-news hours. In those hours market will not show much movements, finally I concluded not to use any bots.

I do not consider on using bot on my trading. Actually your experience is what I thought to happened if I will use bot on my trading. So I doubted it. First If you are going to used bot it means that you  will not know if your trading is good or bad because in trading one should know the price in terms on choosing on buying or holding bitcoin. And if you do not now it you may lose rather than to earn. So I found out that the real key to a successful trading is to manage it by yourself and to work hard to earn. So until now I don't consider bot on trading and also do not suggest to other people on trying it. Because it just a huge gamble with a low probability to earn.

[Sled]

I had experience of using bot for my trading. The problem I faced with the bot was I need to set up moving average kind of parameters so that bot detect swings and will place orders, but the bot I used, generated fake calls on news hours, so I forced to trade only on non-news hours. In those hours market will not show much movements, finally I concluded not to use any bots.

I do not consider on using bot on my trading. Actually your experience is what I thought to happened if I will use bot on my trading. So I doubted it. First If you are going to used bot it means that you  will not know if your trading is good or bad because in trading one should know the price in terms on choosing on buying or holding bitcoin. And if you do not now it you may lose rather than to earn. So I found out that the real key to a successful trading is to manage it by yourself and to work hard to earn. So until now I don't consider bot on trading and also do not suggest to other people on trying it. Because it just a huge gamble with a low probability to earn.

That is actually true. Experience is the best teacher for us because it makes us smarter and to do better decision and also trading, if we don't have experience then we urgently need to get those requirement to earn knowledge and earn money when we already have knowledge. Bot are just for people who wants fast income but those people who stick in manual wants slow but bigger income that others.

[nodelover]

I don't use a bot for trading bitcoin. For me, it is better to monitor bitcoin price to maximize profit that fixed pattern used by a bot.

[phpartisanmaster]

I had experience of using bot for my trading. The problem I faced with the bot was I need to set up moving average kind of parameters so that bot detect swings and will place orders, but the bot I used, generated fake calls on news hours, so I forced to trade only on non-news hours. In those hours market will not show much movements, finally I concluded not to use any bots.

I do not consider on using bot on my trading. Actually your experience is what I thought to happened if I will use bot on my trading. So I doubted it. First If you are going to used bot it means that you  will not know if your trading is good or bad because in trading one should know the price in terms on choosing on buying or holding bitcoin. And if you do not now it you may lose rather than to earn. So I found out that the real key to a successful trading is to manage it by yourself and to work hard to earn. So until now I don't consider bot on trading and also do not suggest to other people on trying it. Because it just a huge gamble with a low probability to earn.

That is actually true. Experience is the best teacher for us because it makes us smarter and to do better decision and also trading, if we don't have experience then we urgently need to get those requirement to earn knowledge and earn money when we already have knowledge. Bot are just for people who wants fast income but those people who stick in manual wants slow but bigger income that others.

I agree to that because if you keep using bots on trading then you will not learn, If you always lean on bots to earn profit then you will really not earn experience and you will not think of your own strategy to earn profit.

[aldrian09]

No I haven't tried using bot for trading, I do my trade on my own and I want it this way because I want to know more about trading and if I will use bot then I will not learn anything and will depend always with bot.

[Talenter]

Why should someone offer a bot if he can use it by himself?
Makes no sense.
Every strategy will fail, if there are to many users. 
Your best bot is between your ears and calls brain.

[tobs]

I have experienced bots personally, however they were more pissing me off, as they were used by other investors on an exchange that I have tried to profit trading on. They were automatically making bids, smaller/higher than the best one by literally cent or a dollar, making it impossible to sell any lower amount of particular coin. This strategy, means that the user actually knew what was doing. I think that well programmed bots could actually turn out to be more efficient than humans, if we take into the consideration the sole mathematical and analytical aspects.

[dinoloverpete]

I have never used a bot and do not have any intention of doing so, they're great for high frequency trading but this isn't really the market for that, I would also never use a bot unless I created it myself or someone I trusted created it.

[ricardobs]

I don't use a bot for trading bitcoin. For me, it is better to monitor bitcoin price to maximize profit that fixed pattern used by a bot.

I’m not really into making use of trade bots also, but I have a friend who makes use of it and he claims it makes good trade and profits for him, though I never believed that. He once showed me the trade that was made by his trade bots, that day was really perfect from what I see, but I don’t think things will really be rolling out that way everyday.

For me, it’s better you study your stock and learn everything you possibly need to know about trading, and then trade by yourself. If you also think trade bots are better, well, no one stops you, it’s all your choice, everyone has what works perfect for them.

[RealPhotoshoper]

Why should someone offer a bot if he can use it by himself?
Makes no sense.
Every strategy will fail, if there are to many users. 
Your best bot is between your ears and calls brain.

I won't say that is doesn't makes any sense , but it is not effective espevially if you did not know things such as coding . The market won't stay the same move up and down if you set a simple bot.
But it might have different story when you use a complicated bot such as the gunbot that made by gunthar , it has quite a lot people use it .
Don't know how the bot generates you profit but so far there is no overreaction on how the bot did not work nor how it gives them profit . Just make your own conclusion about that.