Getting started with Trading bots

[krymson]

Hi guys,

I've noticed that even when I have the right information or the right idea of what to do, I make a lot of bad trades due to emotion, so I've been thinking more and  more about making a trading bot recently.

How does one get started with coding a trading bot? Is it better to modify an existing bot or start from scratch?

I do have some coding experience, which makes me respect how much work it is to get bug free production code running well - which seems important when real money is on the line.

[Pursuer]

I've noticed that even when I have the right information or the right idea of what to do, I make a lot of bad trades due to emotion, so I've been thinking more and  more about making a trading bot recently.

a bot is not going to change much. you can automate a lot of stuff but you still have to have a clear strategy and a good plan to stick to. it won't do if you have little experience in trading and have no idea what to do in different scenarios like when an unexpected dump happens.

How does one get started with coding a trading bot? Is it better to modify an existing bot or start from scratch?

I do have some coding experience, which makes me respect how much work it is to get bug free production code running well - which seems important when real money is on the line.

it will come down to how much coding experience you have. if you had some in one of the more popular languages like python then your work be moderately easier.
just go to GitHub or do a google search to find an open source bot or even a library to get you started. and build on top of that. it will me much faster and easier this way.

[ArrogantPeacock]

Try not to use trading bots, they are not realiable and not worth risking your capital

[krymson]

I've noticed that even when I have the right information or the right idea of what to do, I make a lot of bad trades due to emotion, so I've been thinking more and  more about making a trading bot recently.

a bot is not going to change much. you can automate a lot of stuff but you still have to have a clear strategy and a good plan to stick to. it won't do if you have little experience in trading and have no idea what to do in different scenarios like when an unexpected dump happens.

Well I think the point here is that in hindsight if i had made the trade as planned it would have profited, but due to emotion, i would trade when i shouldn't, or not make a trade I should because of fear. The point of a bot would be to execute those trades as planned without overthinking it or acting out of fear/fomo.

[mk4]

I've noticed that even when I have the right information or the right idea of what to do, I make a lot of bad trades due to emotion, so I've been thinking more and  more about making a trading bot recently.

a bot is not going to change much. you can automate a lot of stuff but you still have to have a clear strategy and a good plan to stick to. it won't do if you have little experience in trading and have no idea what to do in different scenarios like when an unexpected dump happens.

Well I think the point here is that in hindsight if i had made the trade as planned it would have profited, but due to emotion, i would trade when i shouldn't, or not make a trade I should because of fear. The point of a bot would be to execute those trades as planned without overthinking it or acting out of fear/fomo.

But the bot wouldn't be affected by FUD and or panic because of certain news, whereas people do. People panic = People sell = Price dips/crashes. Can a bot react to certain news? No it can't. News(both positive and negative) has the biggest effects on the markets in my opinion; a perfect example of this is the recent news about China banning ICOs and possibly exchanges(unproven). Just saying.