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Author Topic: altcoin trading bots are profitable?  (Read 1436 times)
freebitcoins4u
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April 20, 2017, 06:28:11 PM
 #1

hello,

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?

thanks Smiley

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Nagadota
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April 20, 2017, 06:59:20 PM
 #2

What you should expect is something that's moderately profitable if you're good enough at trading already to read the charts and consider the wider future of the currency.

Basically, you can split trading into two altcoins: technical analysis and fundamental analysis.  Fundamental analysis is trading based on major news or events that are relevant to the currency.  That's what you need to do, because a bot is not intelligent, it just trades based on very specific code.  With that you need to choose what coin to trade, any really major price fluctuations in the future (e.g. completely dying or going moon). 

Technical analysis is trading based on the charts.  Looking at the price and judging the market sentiment.  For minor fluctuations in the day, that's what the bot does. 

What you have to do is look at the overall picture, and also look at how big the fluctuations in that currency usually are.  You also have to pick a good pair and keep a close eye on it in case something goes wrong.  If you do all this and you're not an idiot, it should be pretty profitable.

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April 21, 2017, 01:01:11 AM
 #3

Using a factory as Example, would you as owner of factory trust Robots to handle all the manufacturing processes even without supervision?
Your answer to this question should help answer your own question

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April 21, 2017, 04:47:57 AM
 #4

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?

there is no such thing called "automatic trading bot" that you just invest in and that generates you profit. a bot is just a program that makes things easier and gives you "additional options" to work with that the exchange platform itself doesn't have.
some of these bots have some scripts and strategies for trading that you can use, but without understanding the trading strategy and in general how trading works and have some sense of how price moves in the market you won't make money from them.

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April 21, 2017, 07:03:36 AM
 #5

I think yes it is worth to try some trading bots to automate your trading or even to make some nice profit during price swings.

One that i know is Gunbot https://bitcointalk.org/index.php?topic=1715214.0
It is trading bot for poloniex and have got few good reviews from the one who have purchased it. Price also doesn't look that high, you can give them a try.

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April 21, 2017, 08:28:29 AM
 #6

Bot not guaranteed youre trading always profit
bot only tool can automatic youre trading, recomended bot and much member bitcointalk use CAT https://bitcointalk.org/index.php?topic=507103.0
and GUNBOT (link thread is ready above my comment)

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April 21, 2017, 08:45:50 AM
 #7

I just want to remind that the manual way is the best. Because by manual means all decisions and actions are fully controlled by you. There will be no intervention to your decision. While the robot in my opinion can not guarantee that you will get a profit. This is just my advice, the decision is yours.

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April 21, 2017, 11:25:19 AM
 #8

There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
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April 21, 2017, 11:38:51 AM
 #9

that is something you can only try if you have so much extra money, you may get lucky if you bots makes some profits, but without human intervention bots will always make a loss,
only possible way to make profit is to watch market closely, research your alts, and trade accordingly
OR
Make your OWN AI with lots of money which can only think about Strategies Read and Interpret News, does research and make moves accordingly  Grin

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April 21, 2017, 01:43:10 PM
 #10

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?
I don't recommend you use bot while you trading, it's only makes your bet become easier than doing it by manually (you only get small profit too with a bot).

There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
Correct.

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April 21, 2017, 05:02:55 PM
 #11

There are few exchange specific trading bots are available which are being reviewed by many forum members as good but I have never tried any of them. Basically I am not ready to believe any codes to make profits for myself. I believe only on my skill to make profits with trading. Because consistent performance from trading bots will not be possible in my understanding.

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April 21, 2017, 07:06:25 PM
 #12

There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
the only way to trade profitability is to leaned how trading work and develop your trading skills and strategies. I have tried to used bot when I was trading forex but it doesn't work for me so I have to abandoned it and focus on my skills and manual trading.

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April 21, 2017, 08:11:16 PM
 #13

There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
the only way to trade profitability is to leaned how trading work and develop your trading skills and strategies. I have tried to used bot when I was trading forex but it doesn't work for me so I have to abandoned it and focus on my skills and manual trading.
I believe your experience must be the most common for most of the traders, because I guess we need quantum computing in order to create one versatile trading bots as the possibilities and variations of trading are unlimited so few set of coding sequences will never able able to cover all those various market conditions.

Manual trading has some minimum guarantee to withstand any market condition whereas trading bots are highly known for fetching losses in typical market conditions like highly volatile price movements.



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blackhawkeye1912
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April 21, 2017, 11:10:01 PM
 #14

hello,

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?

thanks Smiley
I think using trading bot is not profitable, because if you are a good trader especially if you are experts in doing trade, perhaps you don't need it anymore.  Besides, trading bot in my opinion is just for the traders who is lazy or don't want to waste their time in applying trade on the market so while they sleep at night maybe they use trading bot.

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April 21, 2017, 11:23:16 PM
 #15

hello,

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?

thanks Smiley

I haven't used any bot for trading because I don't want to. But it looks like there are plenty of traders that are using bot for their own trading. I think it's profitable for some others and it may not be for others. But I will always prefer to trade manually because I want to have it the feeling of worthiness when I earn.

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April 22, 2017, 01:08:58 AM
 #16

I think if you are professional traders then you can earn profit by using bot especially alt coin which got a big swing and the moment of big swing is only a moment, maybe it can help you to make a trade at that time and earn profit, but profit or not it's not depend on bot but more of your analysis skill

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April 22, 2017, 01:42:49 AM
 #17

hello,

is it worth to invest in automatic trading bot for trading altcoins at exchange sites?

thanks Smiley

They are.

If you buy Gunbot is have little risk of losing money because it has an auto algorithm.

I think that it is definitely a good one to get if you have starting capital, however ifg you only have like 0.2 BTC anyways and you want to get a bot that costs 0.1 BTC, you're probably not going to achieve ROI.

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April 22, 2017, 02:05:20 AM
 #18

There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
"You will make peanuts" if you invest peanuts – it all depends on your capital. Bots are better than human, especially in trading – they never get emotionally attached to altcoins, get nervous, or get panicked. You give it input, and should expect a result – you mess up, you blame yourself not the bot. And GUNBOT seems to be the most popular one, as far as I've seen. 

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April 22, 2017, 04:08:06 AM
 #19

That's a really bad idea. Robots can't think beyond few algorithms so they are limited to trading skills. You can't expect much from robots and they are scam or risky too. Instead you can try yourself, you can learn from your loss and earn from your profits.

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April 22, 2017, 04:11:07 AM
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There's no such thing as a free lunch. You'll make peanuts from bots compared to actually learning how to trade
"You will make peanuts" if you invest peanuts – it all depends on your capital. Bots are better than human, especially in trading – they never get emotionally attached to altcoins, get nervous, or get panicked. You give it input, and should expect a result – you mess up, you blame yourself not the bot. And GUNBOT seems to be the most popular one, as far as I've seen. 

Don't really believe in bots. How can we trust someone with little and limited thinking capacity. Buy/sell algorithm that too with access of all your capital. Bots always try to cover loss and to do this they input double money of your last trade to cover loss plus gain the profit from that trade. It is really dangerous. They are not emotional is disadvantage I guess.

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