How effective are bitcoin trading bots?

[anurag54321]

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

[Sled]

Bitcoin trading bots are only effective if you know how to set it up and you know how to manage it but if you are just a newbie that finding some way to earn good profits then trading bots will not be for you and it is best to do trading by your own so you can get experience and also lessons for the possible mistake and you can earn more than a trading bot.

[carap]

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalk.org/index.php?topic=1722689.0

[Bitcoinsummoner]

Not all bots can gives you a good service there are many bots out there that has backdoor script so beware for those trading bots..
And i think if you have knowledge about trading like other said its depends in your setup. if you have knowledge in trading you can know how to setup the  bot setting up for how far your margin percentage of your capital to sell if the price was touch with this amount. it will always depends in you the bot just can help you to automates your trading ways if you can not stay long in trading you can set the bot for you so that you can stay long in your real job than  your trading task..

Well always check and scan he bot if you want to use a trading bot and always ask for other traders here to know if that file is safe or not just to be safe.

[Slow death]

How effective are bitcoin trading bots?

Most bots offer considerable % per day. But do not expect to earn 10% or 50% per day.

So I've seen some bots that offer 0.60% to 1% per day...

See this thread very interesting

https://bitcointalk.org/index.php?topic=1715214.msg17180502#msg17180502

I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

Was this person selling a bot?

I'm asking this question because many people lie that they make lots of money just for you to buy what they're selling.

If the person is selling a bot, surely this is exaggerating in the number just for you to buy your bot

[SCCFX]

bitcoin trading use bot only automatic trading youre trade not guaranteed if you trade profit
and setting bot from programer, so sometime is wrong open position trade

[dihari]

Check this thread, and you'll feel regret for ignorance something good for your trading profit. Maybe it is best trading bot ever created.
https://bitcointalk.org/index.php?topic=1715214.0

[dossantosleite]

Check this thread, and you'll feel regret for ignorance something good for your trading profit. Maybe it is best trading bot ever created.
https://bitcointalk.org/index.php?topic=1715214.0

Are you using this bot yourself? if yes, can you share your results so far?

[rickadone]

Bitcoin trading bots are only effective if you know how to set it up and you know how to manage it but if you are just a newbie that finding some way to earn good profits then trading bots will not be for you and it is best to do trading by your own so you can get experience and also lessons for the possible mistake and you can earn more than a trading bot.

Setting up a bot in a right way is significantly only 5% of determining the profit making capabilities. How the analysis capabilities were coded is more important and how it will withstand against fake/short term fluctuation is the very big concern to conclude about the effectiveness of a trading bot.

When I used bots, it skipped many good entry points but got struck with losses and closed that position in stop-loss levels.

[BitcoinHodler]

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

it is most probably a scam trying to convince people to download some king of malware. it may very well be the ransomeware

no bot will ever make claims like this that by using it you can make $ to x$
a bot is only making things faster and easier and in case you use a VPS it can become 24/7 to use for things like watching the market and executing stop loss or some strategy on automation.

and besides if you wanted to turn $300 to $50000 all you needed to do was simply buying an altcoin last month and dumping it after a week or so

[The_Dark_Knight]

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalk.org/index.php?topic=1722689.0

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

[Sled]

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalk.org/index.php?topic=1722689.0

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

That is why trading with bots is just a problem especially if you don't have any idea in trading or managing a bot because it is like a stressful work because you need to fix some codes and adjust some settings to make trading good but if you do manual trading then it will be easier for you, so i think bitcoin trading bots are not effective.

[JeffBrad12]

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

Do you believe in the opinion? I think the effectivity of the bot. It can't be determined as a score. But from what I knew about the crypto bot.

That just make your order being automatically.  If you don't have enough time to make your trade and you will be able to use a bot for making your trade.

But the bot can't be defended on all of the conditions.
Especially their effectivity will depend very less on the bearish trend.

[machinek20]

Quite effective if you know how to used it, a bot can help us to do trading when we are sleeping, it is very good tools if you have a good skills and know when is the good time to trade, a bot is only a tool to help us to trade all of the results is depend on the user

[Sled]

Quite effective if you know how to used it, a bot can help us to do trading when we are sleeping, it is very good tools if you have a good skills and know when is the good time to trade, a bot is only a tool to help us to trade all of the results is depend on the user

There is no doubt that trading bots are helpful and effective but if trading bots are not easy to use and setup plus if the trader is not yet fully experienced in trading bots or even trading then it will be a huge problem for him because he is very vulnerable to losses that can make him quit.

[The_Dark_Knight]

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalk.org/index.php?topic=1722689.0

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

That is why trading with bots is just a problem especially if you don't have any idea in trading or managing a bot because it is like a stressful work because you need to fix some codes and adjust some settings to make trading good but if you do manual trading then it will be easier for you, so i think bitcoin trading bots are not effective.

Correct, this is why we must know how to trade before you try to automate the process if you think about it it makes sense, if you want to automate driving then you need to know how to drive a car if you don’t then how are you going to automate the process effectively.

[ASHLIUSZ]

Bitcoin trading are truly effective, but the profitability is possible to certain extent which will not cross certain profit margin. As programmed, most of the time trading is automated on reaching particular price and stopped on drop below certain value. This will not think beyond that when unexpected price pumping happens.

[raven7886]

Quite effective if you know how to used it, a bot can help us to do trading when we are sleeping, it is very good tools if you have a good skills and know when is the good time to trade, a bot is only a tool to help us to trade all of the results is depend on the user

There is no doubt that trading bots are helpful and effective but if trading bots are not easy to use and setup plus if the trader is not yet fully experienced in trading bots or even trading then it will be a huge problem for him because he is very vulnerable to losses that can make him quit.

I do not think setting up a trading bots to make trades is not that much complex one compared to what we actually doing technical analysis are manual trading. Because the bot providers will be supplying some predefined parameters for different scenarios. We can simply follow them to make those bot get ready for actual trading.

But I'm not ready to recommend about the effectiveness of bitcoin based trading bots. Because I have used them but concluded as waste of money.

[gabmen]

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

I don't think this is even possible. bots pretty much do the same thing as when you manually make a roll. I don't believe that review you've read and that's possibly a paid advertiser to boost the bot's sales

[Monnt]

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalk.org/index.php?topic=1722689.0

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

Well why do they use bots then ?
There are plenty of things that come across the traders while dealing with the bots. If someone is not satisfied with working in the trading bots it is good to be an open ended. But before going to go to the Bots one should first understand the reason of why the bots are here.