Is gunbot or automatic trading robot really profitable ?

[wonderchaff]

Hi guys , I have questions about trading robots . Is it really profitable ? It is hard to set up ? Do you have some experience with gunbot or others ?
Did you earn something with these robots ? Thanks for all answers

[soy]

On the crypto market, I don't think, at least not with the same return as auto bot trading in the equity market. But with the volumes that some corners are reaching, this is likely to grow rapidly in the coming years. When you know that 90% of the usual trading is automatic now...

[Saifher]

Most whales and big traders use bots to do their work for them, and this says a lot i think. The hard part is finding a trustworthy algorithm that you can leave on and not worry about it, and then adjusting it to your needs as you see fit.

[wonderchaff]

On the crypto market, I don't think, at least not with the same return as auto bot trading in the equity market. But with the volumes that some corners are reaching, this is likely to grow rapidly in the coming years. When you know that 90% of the usual trading is automatic now...

i am asking cuz i saw few videos on youtube where some youtubers propagate it as a good investment that can make around 5-10% profit a day ... on cryptomarket such as bittrex ...

[wonderchaff]

Most whales and big traders use bots to do their work for them, and this says a lot i think. The hard part is finding a trustworthy algorithm that you can leave on and not worry about it, and then adjusting it to your needs as you see fit.

Do you have some experience with these bots ?

[endlasuresh]

Here are some reviews read it https://bitcointalk.org/index.php?topic=1715214.3160
It is really a bot, but might do great work, please read the above thread and decide whatever you want.

[wonderchaff]

Here are some reviews read it https://bitcointalk.org/index.php?topic=1715214.3160
It is really a bot, but might do great work, please read the above thread and decide whatever you want.

ok thanks a lot for link

[squatz1]

For some it is, for some it isn't. When you think about it, Gunbot is really going to be following what kinda parameters you set for it, so you're the one that is giving the outlines for the way that you'd be trading.

If you're just trying to buy it in order to get  INSTANT PROFIT, then stop right there, there's no reason to do that and you're not going to make a dime. It's expensive, and is only worth it for traders who have a good amount of capital, and don't want to have to do this full time.

Very subjective thing, for some it is, for some it isnt.

[GreatOrchid]

I read a lot of posts about people complaining about this bot, it is very, very expensive at the moment. I still remember those times in when this bot was still at $300  - $350 the full licence, now it is at the same bitcoin price, only that btc went up and the full licence is at $650 - $ 750 if i am not wrong.
I have never tried, it is a good bot for me, but try to find those complains about those people who lost a lot of money using it. There is a lot of diversity about this one, because there is a fifty-fifty of posibilities to earn money, or just to lose a lot of money because you did not configurate it well.
Make your own conclusions about it.

[Aamir1]

I don't have any experience with trading bots, nor i ever felt the need of using one. I can do my trades anytime i want without involving any third party. I believe our trades should be private i all means. I don't say that the bots are not trustworthy or they might steal your information or money, but i would still feel safer if i'm doing the work myself instead of a bot.

[wonderchaff]

ok guys thanks for yours advice so i think these automatic trading is nothin for me cuz i don't have big capital and i didn't know it is so expensive i thought it cost around 15 usd for month For the first moment when someone say automatic trading bot so you say yourself "omg it will be a huge profit " but it depends on trader strategy not on robot so with my lucky it is not possible for example i sold my eth for 255 eur cuz i saw a lot of articles about that Parity Hacked and i was like omg it going to lose a value so i sold every eth i had and bought komodo cuz first dICO . I bought it around 0.000374 btc but after hour i looked at bittrex and kmd droped to 0.00034 cuz they Delayed and now it is around 0.00028 ...

[wonderchaff]

I don't have any experience with trading bots, nor i ever felt the need of using one. I can do my trades anytime i want without involving any third party. I believe our trades should be private i all means. I don't say that the bots are not trustworthy or they might steal your information or money, but i would still feel safer if i'm doing the work myself instead of a bot.

i don't think bot can steal your money when you have 2FA enabled

[Anonylz]

I have never used it, but i was on a fund of bitcoin trading that was using that bot in order to make the profit, and then re-distribute all the earnings from that day between all the investors.
We made a lot of profit from there, this was on July, when almost all the altcoins were going up like crazy, i dont remember the real reason of this, but i remember the we made more than 3% on just a single day, it was a lot of profit for each one of us.
But then it suddenly stopped giving us good profits, and we lost -2% in a single day, maybe it was our fault.

[Xavofat]

Gunbot are not promising profits or anything outrageous, so fair play to them for having the software.

As for whether they're profitable, it depends who's using them.  You can't just set up the bot and expect it to make you endless money.  The bot works on minor fluctuations, so you have to choose an ideal currency and know when to stop it and trade manually.

You also have to consider exchange risks.  The risk of leaving your coins on Poloniex or Bittrex most likely outweighs any smaller profits that you might make.

[ahmedjamal1998]

I'm one of the people who actually does day trading but doesn't use bots or anything similar.
In fact, I think I've seen more complaints regarding these bots more than people praising them.

And taking into perspective their current price and how they really work, I can say that it's not worth it.
First of all their price is about $700 !! Unless you are a whale yourself and are willing to invest a couple hundred thousand dollars, you shouldn't be thinking about buying such a thing.

The hard part is finding a trustworthy algorithm that you can leave on and not worry about it, and then adjusting it to your needs as you see fit.

I think it's extremely difficult if not impossible to figure out such an algorithm. Yes the crypto altcoin market usually follows a pattern in price changes but that doesn't mean that it will ever reach the level that you don't need to worry about it. Things change. Some coins get dumped real hard due to news/rumors or whatever and these can't be predicted by codes.

You must've started thinking about it as an "easy insta profit" method. Believe me the word "no pain=no gain" is real. If you don't trade yourself and inspect the markets closely you won't get anywhere.

but i remember the we made more than 3% on just a single day,

Is 3% per day a lot ? This simply means that you haven't been into the game since then.
Prices go up by 7-10% and down by the same range on a daily basis on different coins.

[wonderchaff]

Prices go up by 7-10% and down by the same range on a daily basis on different coins.

it sounds like wild West

[Mike Mayor]

People always misunderstand these bots. You don't just turn them on and leave them and they make money for you. You can lose money too. They there so when you put a sell or buy order you get a good price and don't end up buying for higher if the price drops and yours is still up high, the bot prevents this from happening. So while you sleep if a certain coin sells at a certain price you can tell the bot to sell, in that way you don't have to be awake and know you won't miss the trade. You can also tell the bot how long to hold on for and set tolerance levels for buying and selling. But it is not an automated money making machine if it was they will not sell it and keep it for themselves so you do have to have skills.

[crazyivan]

The bot itself does the work great. However, setting up the bot is strictly up to you. If you select a coin with lots of violent pumps and dumps, there is a big chance you ll lose your money. The best ones for trading are smaller alts which follow predictable price pattern. These days, with this BTC growth, trading is best to be avoided. Unless you short alts and margin lend!

[wonderchaff]

People always misunderstand these bots. You don't just turn them on and leave them and they make money for you.

Exactly i thought this cuz marketing for these robot is like "make profit 10% a day , every good trader use robot to generate profit , let robot generate profit for you ..." everywhere is just word "profit" ....i haven't know nothin about it .. but now i know that everything depend on trader and his strategy ...

[klaaas]

Take a look on the Gunbot forum OP and read the experiences people have with the bot.
As stated above, it will boil down to the rules you supply to Gunbot.