Anyone use btcrobot.com?

[kmarinas86]

I'm thinking about using this only when the market is going down. It appears to lose BTC if market is going up in the short term. Also, maybe it's important to adjust the trading strategy based on the the market condition. Right now the market is very volatile, and I am wondering if the short-term strategy works the best in that case. If the market is flat and boring, there there is no point trading high frequency with a bot. I would be better off doing it manually, turtle-trader style.

Does anyone have experience in the variable efficacy of this product?

[hostmaster]

i lost alot of money with these scammers be carefull!

[chris56a]

No, BtcRobot is not a scam. The robot is a solid automated trading software for BTC-e.

It can work on both Windows PC or Trading VPS (web based).

It works as advertised and produces conservative steady profits.

Yes, the team uses pen names and put google images as our pics for obvious privacy reasons. Nobody puts their real pics in bitcoin.

coming from the guy with -4 trust

[Hapex]

I'm thinking about using this only when the market is going down. It appears to lose BTC if market is going up in the short term. Also, maybe it's important to adjust the trading strategy based on the the market condition. Right now the market is very volatile, and I am wondering if the short-term strategy works the best in that case. If the market is flat and boring, there there is no point trading high frequency with a bot. I would be better off doing it manually, turtle-trader style.

Does anyone have experience in the variable efficacy of this product?

Granted it's your money (btc) I think most of us would advise you to stay away from this product. I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using. Like someone mentioned, it very well could be a man in the middle attack to steal bitcoins from traders. I honestly don't know, and without seeing the bots source code it's too difficult to tell.

They've admitted that they are using Ruby to code this bot, which is really a piss poor language to be using for algorithmic trading. Python, or hell even C++ and C# would be a better alternative than Ruby.

Best advice I can give, and this is from experience with a pretty good size loss is stay the hell away from this bot.

[eurobitcoin]

I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...


Regarding the lack of trades last weeks,

If you follow Bitcoin niche you might now about the dramatic news from Mtgox and other exchangers driving the price down. On such bearish trend it does not make sense buying bitcoins, the robot simply sits on USD and waits for favorable signals to buy bitcoins. It's goal is to protect the capital (USD value of portfolio) not to trade for the sake of trading.


P.s.
We also have a new Litecoin robot here http://ltcbot.com/earlybird.php

[Hapex]

I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...

Not true? Who are you kidding here? I lost 1.68 BTC because of your bot. Yet I got the same response when I voiced my concerns Blah blah blah battle tested, blah blah blah.

I'll ask you flat out, what trading strategy are you using for your bot to execute trading decisions? Can we view the source code?

The bot traded POORLY during the month it was running UP in price. I feel sorry for the poor bastards using your bot in a down turn. It would perform micro buys and sells in RANDOM intervals and most of the time trading in opposite directions of the trends. WTF is that about?

That is EXACTLY why I got a refund. If I waited the full 90 days for your bot, I would of been flat broke.


Does your Litecoin bot also derive it's trading logic from your bitcoin bot? If so I would advise the users here stay away from that one as well.

I've recouped my losses coding my OWN bot. While I feel bad for your customers, I do keep an eye out to trade against your bot.

[eurobitcoin]

As you might heard, MTGox (ex leading marketplace) went out of business. This might sound like a bad news for many, but we see it as a good news for bitcoin. and here is why

1. Mtgox issues are nothing new to the market. If you are following the scene, you know that they stopped payouts over a year ago and their troubles were long anticipated and already included in the bitcoin price index. They are already replaced by the promising marketplaces such as Bitstamp and Btc-e. So nothing new here really.

2. A lot of people worried that Mtgox was dragging the btc price down which is true. Finally after it is officially closed, there is no more concern about it. The price will start rising.

3. Low bitcoin price is a good opportunity to buy bitcoins cheap.

4. A lot of newbie traders when they hear bad news they start so called "panic sell". Should i Panic Sell ? Here is the answer http://shouldipanicsell.com/  In short, where most people see negativity, the rich people see opportunity. Most world riches were made during the time of crisis.

Will this affect the BTC robot?

Short answer is NO. All is fine.

We replaced Mtgox by Bitstamp long ago in BTC Robot algorithms so this will not affect the robot in any way. We will of course remove mtgox price feed from the chart as well

How to anticipate where the price will be moving?

Great question. You can do this easily using the Bitcoin indicator for MT4 that you can download here.



BTC robot team

[tysat]

Just a friendly reminder not to use this scam software

[PaperClip]

So I have bought this bot for me. During last month is was totally unprofitable, see chart below. I was using dedicated btc-e account for it, so nothing else could interfere.
http://s24.postimg.org/l29qiklcj/btcrobber.png

[eurobitcoin]

Public account update of new version (bitstamp based)



Low bitcoin price is a good opportunity to buy bitcoins cheap.

We replaced Mtgox by Bitstamp long ago in BTC Robot algorithms so this will not affect the robot in any way. We will of course remove mtgox price feed from the chart as well

[giszmo]

Guess it's time more users take the effort and document their findings here

[eurobitcoin]

Really great news guys



Breaking NEWS: BTC China Launches Litecoin Trading!!

I'm very excited to tell you about this before the rest of the world because in the next days if not hours the price of LTC will skyrocket!

If you are still not trading Litecoin, run to http://ltcbot.com/earlybird.php and get your Litecoin robot installed!

[Sithra]

Tried both versions (on small accounts)  - the Silver BTC which didn't manage to make a trade
& the hosted LTC version which promptly lost a small profit I had accumulated by selling low - buying high

I think a partially trained chimpanzee could read the market better!

Refund requested

[XxGalactusxX]

I will be asking for a refund if I don't hear back from support very very soon

[Hapex]

Hi everyone. This is my post in this forum and thus, as my profile rating may be, what I say may probably be ignored, but anyways here I go.

I bought myself a Gold License for BTC Robot on the 31st of March 2014 and and proceed to record my BTC Robot's performance through a blog that I created. The purpose is to see if:

• If it works
• Display the performance of the BTC Robot, complete with screenshots and images for easy reference
• If it works or not, at least this will be a feasible and clear reference to whomsoever that may be interested in buying a license

So there you have it. Please check it via http://morrisbtcrobot.blogspot.com/. Thank you for your time and if you find my blog helpful, please help me spread the news about it so that many more people may benefit from my fortune/misfortune and decide on a well-informed conclusion.

Once again, thank you for reading.

Definitely a solid test, I would recommend you cut your losses or you're going to be out of coin before the 50th day. BTCRobot is garbage. The btcrobot creators account is the only one that seems to grow which fuels my speculation that it performs a man in the middle attack to "buy" your bitcoins on the cheap. You buy high, and sell low, they buy low and sell high against their "customers".

Obviously I have no proof but the results you display are consistent across this thread as well as many others, and when they show their personal account, it always seems to grow, while anyone who has used their bot btc stash seems to shrink. How can that be when just about everyone else here in this thread that has used it has suffered losses. Only logical conclusion I can come up with is what I just detailed above.

Cut your losses man, I hate to see anyone getting ripped off by scammers.

[eurobitcoin]

I would recommend you cut your losses

Greetings, dear BTC Robot members!

We have been paying attention to your emails about our BTC Robot's recent performance and we would like you to know that we are keeping a close eye on the Bitcoin markets. Bitcoin prices are facing a strong regression these days; as you can see from the Bitcoin charts here https://bitcoinwisdom.com/ , the long term trend during the last few months has been bearish and the price has been decreasing with very low volatility, which does not give enough volatility for the robot to take advantage of the decreasing price.

However, despite the recent bearishness, we are always optimistic about Bitcoin's potential. The best performance is always shown on growing bullish markets. You need to remind yourself to consider trading as a long term investment. It does not matter if you trade BTC or just "buy and hold" it, during the bearish down market it's difficult to profit effectively and the best strategy is just to wait for the right market.

We expect the winds to shift and Bitcoin's trends to become more positive during the second half of this year, similar to what happened last year, which in turn strengthened customer confidence in BTC  (after pending government regulations), which also ensures the future rise of its price and in turn, more profits for you.

Meanwhile, for those of you like to trade on Metatrader, you can try an alernate, profitable BTC trading solution from our affiliated partners, FapTurbo2.com. They offer automated trading robots for MT4 such as BTC FAPT2 Premium at http://fapturbo2.com and also, their free Bitcoin indicator http://fapturbo2.com/bonus_bitcoin_signal_indicator.php . Both of these operate on MT4 and will give you the opportunity to take advantage of bearish markets as well, not only during bullish markets like on BTC-e. 

[robot-user]

I would recommend you cut your losses

Greetings, dear BTC Robot members!

We have been paying attention to your emails about our BTC Robot's recent performance and we would like you to know that we are keeping a close eye on the Bitcoin markets. Bitcoin prices are facing a strong regression these days; as you can see from the Bitcoin charts here https://bitcoinwisdom.com/ , the long term trend during the last few months has been bearish and the price has been decreasing with very low volatility, which does not give enough volatility for the robot to take advantage of the decreasing price.

However, despite the recent bearishness, we are always optimistic about Bitcoin's potential. The best performance is always shown on growing bullish markets. You need to remind yourself to consider trading as a long term investment. It does not matter if you trade BTC or just "buy and hold" it, during the bearish down market it's difficult to profit effectively and the best strategy is just to wait for the right market.

We expect the winds to shift and Bitcoin's trends to become more positive during the second half of this year, similar to what happened last year, which in turn strengthened customer confidence in BTC  (after pending government regulations), which also ensures the future rise of its price and in turn, more profits for you.

Meanwhile, for those of you like to trade on Metatrader, you can try an alernate, profitable BTC trading solution from our affiliated partners, FapTurbo2.com. They offer automated trading robots for MT4 such as BTC FAPT2 Premium at http://fapturbo2.com and also, their free Bitcoin indicator http://fapturbo2.com/bonus_bitcoin_signal_indicator.php . Both of these operate on MT4 and will give you the opportunity to take advantage of bearish markets as well, not only during bullish markets like on BTC-e.  

This is exactly the same bullshit answer support sends to every customer complaining about the current malfunctioning of their robot. And if you complain again, well, you'll get this asnwer again!!! Nothing personal, but hey, they just don't know the answer themselves why the robots are making big losses !!! Even so every hint for improvement of the robot's console screen is not dealt with. At the moment with downward markets of bitcoin, it sells cheap and buys expensive. Who can possibly believe in its strategy anymore???

IT IS A BLOODY SHAME people get robbed this way and support doing nothing about it. Not even a personal answer...

My conclusion is this : the robot works fine for the first months, then start to loose money and guess where that money is going...

DO NOT ENGAGE WITH THIS RIP OFF ORGANISATION

[OCG]

I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...

Not true? Who are you kidding here? I lost 1.68 BTC because of your bot. Yet I got the same response when I voiced my concerns Blah blah blah battle tested, blah blah blah.

I'll ask you flat out, what trading strategy are you using for your bot to execute trading decisions? Can we view the source code?

The bot traded POORLY during the month it was running UP in price. I feel sorry for the poor bastards using your bot in a down turn. It would perform micro buys and sells in RANDOM intervals and most of the time trading in opposite directions of the trends. WTF is that about?

That is EXACTLY why I got a refund. If I waited the full 90 days for your bot, I would of been flat broke.


Does your Litecoin bot also derive it's trading logic from your bitcoin bot? If so I would advise the users here stay away from that one as well.

I've recouped my losses coding my OWN bot. While I feel bad for your customers, I do keep an eye out to trade against your bot.

Same for me. I had the bot running for 2 weeks and the trades seemed almost random and counter trend. Selling at lower prices, buying at higher prices. In just a few days I lost approx. 100 USD. The bot made me a few dollars (literally) when when BTC was going up and lost serious money in just a few days when BTC dropped. I also asked for a refund and got a blahblah story twice. Then I asked for a refund at clickbetter which processed the payment and received confirmation I will get my money returned.

[Hapex]

I tried for days trying to figure out what kind of trading strategy they were utilizing in it's decision making. It seems completely random, RSI, MAC, MACD, Stochastic oscillator, etc. I couldn't figure out what they were using.

It's simply not true. Random? come on, man...

Not true? Who are you kidding here? I lost 1.68 BTC because of your bot. Yet I got the same response when I voiced my concerns Blah blah blah battle tested, blah blah blah.

I'll ask you flat out, what trading strategy are you using for your bot to execute trading decisions? Can we view the source code?

The bot traded POORLY during the month it was running UP in price. I feel sorry for the poor bastards using your bot in a down turn. It would perform micro buys and sells in RANDOM intervals and most of the time trading in opposite directions of the trends. WTF is that about?

That is EXACTLY why I got a refund. If I waited the full 90 days for your bot, I would of been flat broke.


Does your Litecoin bot also derive it's trading logic from your bitcoin bot? If so I would advise the users here stay away from that one as well.

I've recouped my losses coding my OWN bot. While I feel bad for your customers, I do keep an eye out to trade against your bot.

Same for me. I had the bot running for 2 weeks and the trades seemed almost random and counter trend. Selling at lower prices, buying at higher prices. In just a few days I lost approx. 100 USD. The bot made me a few dollars (literally) when when BTC was going up and lost serious money in just a few days when BTC dropped. I also asked for a refund and got a blahblah story twice. Then I asked for a refund at clickbetter which processed the payment and received confirmation I will get my money returned.

Sorry to hear, but lesson learned I suppose. I don't trade with bots where I can't see the source code or the trading logic anymore.

[RealPhotoshoper]

The robot is analyzing the prices in all Bitcoin exchange marketplaces in real time, exploiting the gaps and using hedging techniques to take advantage of almost bulletproof profit opportunities.
this is sound interesting,and make bitcoiner look like believe on this bitcoinrobot,but if you think bitcoinrobot scam,why are you put your refferal link?
this is  bitcoinrobot website http://btcrobot.com/