Types of Trading bots- any detail and how they work?

[Mobq110]

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

[1714667729]

1714667729

[AdolfinWolf]

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

I'll try to answer your question in pieces.

How do they link up with an exchange and  

Most exchanges have an API which you can "Call" to place orders, or see prices.

For example bittrex's api, -> https://bittrex.com/home/api

what types of bots are there

There's alot of of trading bots, however the ones that are most known/famous are Gunbot, https://bitcointalk.org/index.php?topic=1715214.0 and C.A.TBOT https://bitcointalk.org/index.php?topic=507103.0

and what are people using and have they profited well from these bots?

Primarily opinion-based, and as i have barely used any bots myself, i can't really comment on how profitable it is.

Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark?

I'd say that most people will only use the bot to make things more convient for themselves, but this is also opinion-based. Some people indeed trust the/certain bots more on detecting certain patterns then themselves.

Are they lead by artificial intelligence?

I wouldn't call it artificial intelligence, (as ( as far as i know) they aren't self-learning) but rather lead by detecting certain patterns/prices/volumes/sell walls etc, which have all been programmed in by the creator.

 Ping-ponging for example:, ( which is garantueed to make a profit with a large enough spread in the order book.)

[belphegory]

Hi Mobq.

You can also try out Bmybit which has the Personal Automated Trading System which is very similar to a bot but more intuitive as it has up to 6 simulations\strategies it can run on each pair you want to trade in.

Please use my referral link : https://bmybit.com/?r=124303

I have personally made quite a bit on this system in just the past two months and would recommend it highly.

All the other bots previously mentioned you need to install and run on your machine or a machine but with Bmybit you do not need to as its via their web interface which
is online and running 24/7.

Regards

[Mobq110]

Thanks people I will look into the knowledge shared and especially a system where I do not need to download but works on a website. Much appreciated.

Do you mind sharing on average with an investment of 500usd how much you can make per day?

[arisatox]

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

I'll try to answer your question in pieces.

How do they link up with an exchange and 

Most exchanges have an API which you can "Call" to place orders, or see prices.

For example bittrex's api, -> https://bittrex.com/home/api

what types of bots are there

There's alot of of trading bots, however the ones that are most known/famous are Gunbot, https://bitcointalk.org/index.php?topic=1715214.0 and C.A.TBOT https://bitcointalk.org/index.php?topic=507103.0

and what are people using and have they profited well from these bots?

Primarily opinion-based, and as i have barely used any bots myself, i can't really comment on how profitable it is.

Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark?

I'd say that most people will only use the bot to make things more convient for themselves, but this is also opinion-based. Some people indeed trust the/certain bots more on detecting certain patterns then themselves.

Are they lead by artificial intelligence?

I wouldn't call it artificial intelligence, (as ( as far as i know) they aren't self-learning) but rather lead by detecting certain patterns/prices/volumes/sell walls etc, which have all been programmed in by the creator.

 Ping-ponging for example:, ( which is garantueed to make a profit with a large enough spread in the order book.)

I like your answer but I do not think there is any guarantee because the prices can rise and go down very fast so if you buy there is no promise you will be able to sell for more...

[NutellaboY]

The bots are looking dangerous, I won't allow some program made by somebody take care of my finances. One day my funds may disappear. 

[belphegory]

Thanks people I will look into the knowledge shared and especially a system where I do not need to download but works on a website. Much appreciated.

Do you mind sharing on average with an investment of 500usd how much you can make per day?

Hi there.

Well 500 USD would be about 0.031600 BTC right now.

Minimum investment to start a strategy would be 0.004 BTC...but recommended at least 0.006.

So you could do 5 strategies with that...or less if you put more in......the amount you make is totally dependant on the min profit level you set and how much you invest in each strategy.

The best strategy is to put multiple strategies on one pair say BTC-USD...1 at 2%, 1 at 6% and maybe another one at 12 or even 15% as its quite volatile.

 Also if you know a particular altcoin is going to be going up soon, if you hear about it on the news etc etc  you can create a strategy and pump the min profit up to 30 or 40 %
but bear in mind it wont trade the smaller ups and downs and will only go for the big spikes.

I started off with 0.2 BTC...I lost 60% as I had set my risk level too low and when the markets dropped it terminated the strategy and sold low(lesson learned!)....I am now  on 0.151 BTC in just over a month. My strategies make money which I use to make more strategies.

Just tweak or recreate strategies every other day and let the money build. I would say I make $20(on a bad day) to $120(on a good day).....Once it was $220!

It all comes down to the pairs you chose and of course the market.

@nutellaboy: I agree but when you work a full time job and have kids....I dont have time to trade all day every day. This allows me to trade with minimal effort and doesn't require my pc to be on or internet connection to be running.....and if you trading on an exchange...then its exactly the same.

[odolvlobo]

Thanks people I will look into the knowledge shared and especially a system where I do not need to download but works on a website. Much appreciated.

Do you mind sharing on average with an investment of 500usd how much you can make per day?

There is no such thing as magic money making software, and there is no trading system that works all the time.

Real trading works like this: you spot a opportunity and you take advantage of it. But, as more people spot the same opportunities, the return eventually drops to 0. Then, you need to look for new and different opportunities. You can't buy software that looks for new and different opportunities.

[belphegory]

Thanks people I will look into the knowledge shared and especially a system where I do not need to download but works on a website. Much appreciated.

Do you mind sharing on average with an investment of 500usd how much you can make per day?

There is no such thing as magic money making software, and there is no trading system that works all the time.

Real trading works like this: you spot a opportunity and you take advantage of it. But, as more people spot the same opportunities, the return eventually drops to 0. Then, you need to look for new and different opportunities. You can't buy software that looks for new and different opportunities.

I fully agree.

However that being said....I would miss alot of the swings...and would be making calculated guesses at to where the market will be going.

I cannot tell you how many times I have set sell orders that fell short, or placed buy orders that it never got to....now I place some money into a strategy that has a better chance to catch\even predict the ups and downs while I'm not even there AND I'm making a profit.......

If China pulls out of BTC again or a country pours money into BTC....of course the markets are going to go up or down crazy fast and then you got to recreate the strategies accordingly or, you can wait it out.

Markets go up......and markets go down.

Regards




 

[arisatox]

@nutellaboy: I agree but when you work a full time job and have kids....I dont have time to trade all day every day. This allows me to trade with minimal effort and doesn't require my pc to be on or internet connection to be running.....and if you trading on an exchange...then its exactly the same.

Can you share the bot you are using? I thought all of them would have to be online all the time if they are going to work...

[belphegory]

@nutellaboy: I agree but when you work a full time job and have kids....I dont have time to trade all day every day. This allows me to trade with minimal effort and doesn't require my pc to be on or internet connection to be running.....and if you trading on an exchange...then its exactly the same.

Can you share the bot you are using? I thought all of them would have to be online all the time if they are going to work...

Please see my first post....

Posted by: belphegory       Posted on: January 06, 2018, 06:15:19 PM
Insert Quote
Hi Mobq.

You can also try out Bmybit which has the Personal Automated Trading System which is very similar to a bot but more intuitive as it has up to 6 simulations\strategies it can run on each pair you want to trade in.

Please use my referral link : https://bmybit.com/?r=124303
I have personally made quite a bit on this system in just the past two months and would recommend it highly.

All the other bots previously mentioned you need to install and run on your machine or a machine but with Bmybit you do not need to as its via their web interface which
is online and running 24/7.

Regards

[arisatox]

@nutellaboy: I agree but when you work a full time job and have kids....I dont have time to trade all day every day. This allows me to trade with minimal effort and doesn't require my pc to be on or internet connection to be running.....and if you trading on an exchange...then its exactly the same.

Can you share the bot you are using? I thought all of them would have to be online all the time if they are going to work...

Please see my first post....

Posted by: belphegory       Posted on: January 06, 2018, 06:15:19 PM
Insert Quote
Hi Mobq.

You can also try out Bmybit which has the Personal Automated Trading System which is very similar to a bot but more intuitive as it has up to 6 simulations\strategies it can run on each pair you want to trade in.

Please use my referral link : https://bmybit.com/?r=124303
I have personally made quite a bit on this system in just the past two months and would recommend it highly.

All the other bots previously mentioned you need to install and run on your machine or a machine but with Bmybit you do not need to as its via their web interface which
is online and running 24/7.

Regards

Thanks, that costs so much though. I was not expecting it to be over 100 a month...

[belphegory]

Oh and when you try the trial version of Bmybit you get 3 strategies for free.....if you use my referral link you get 10.  

Unfortunately the Xmas special has passed, they were selling the Gold account for 0.01 BTC.

Its still worth it.....you can make $100 in less than a week depending on your initial investment and min profit limit. Once you get 5 or 6 going it only gets better.

When I started off  it was slow going I wont lie....it took a good few days to reach the point of being able to create more, but the more you create the better the income...and I only really got serious about this end of November\beginning of December.

Regards

[arisatox]

Oh and when you try the trial version of Bmybit you get 3 strategies for free.....if you use my referral link you get 10. 

Unfortunately the Xmas special has passed, they were selling the Gold account for 0.01 BTC.

Its still worth it.....you can make $100 in less than a week depending on your initial investment and min profit limit. Once you get 5 or 6 going it only gets better.

When I started off  it was slow going I wont lie....it took a good few days to reach the point of being able to create more, but the more you create the better the income...and I only really got serious about this end of November\beginning of December.

Regards

Do you know how long the trial lasts? The website for it does not have any of that information, just that there is a trial...

[belphegory]

I think its for a month...not actually sure? Mine lasted abit longer and only bought the first month when i started doing well....then I bought the Gold Xmas special when it came out.

The Bmybit forum is here: https://bitcointalk.org/index.php?topic=2335783.0

And Facebook Page here: https://www.facebook.com/bmybit/

Regards

Quick Update: I just asked them via Facebook and they said there is no time limit on trial....only limitation is on strategies...you can only have 3 unless referred.

[Mobq110]

Oh and when you try the trial version of Bmybit you get 3 strategies for free.....if you use my referral link you get 10. 

Unfortunately the Xmas special has passed, they were selling the Gold account for 0.01 BTC.

Its still worth it.....you can make $100 in less than a week depending on your initial investment and min profit limit. Once you get 5 or 6 going it only gets better.

When I started off  it was slow going I wont lie....it took a good few days to reach the point of being able to create more, but the more you create the better the income...and I only really got serious about this end of November\beginning of December.

Regards

Do you know how long the trial lasts? The website for it does not have any of that information, just that there is a trial...

So if we use your referral link we get 10 strategies with unlimited trial period?? For free?

[arisatox]

Oh and when you try the trial version of Bmybit you get 3 strategies for free.....if you use my referral link you get 10. 

Unfortunately the Xmas special has passed, they were selling the Gold account for 0.01 BTC.

Its still worth it.....you can make $100 in less than a week depending on your initial investment and min profit limit. Once you get 5 or 6 going it only gets better.

When I started off  it was slow going I wont lie....it took a good few days to reach the point of being able to create more, but the more you create the better the income...and I only really got serious about this end of November\beginning of December.

Regards

Do you know how long the trial lasts? The website for it does not have any of that information, just that there is a trial...

So if we use your referral link we get 10 strategies with unlimited trial period?? For free?

I am not understanding how this works or he made up stuff. If I try to set up a strategy it always gives an error

Please upgrade your account from the HOME page to start trading.

[zzHQzz]

Guys, im not looking for daily trading bot, but instead looking for quick buy boy, basically just automated process of buying faster then it can be done manually, is there any stuff like this?

[belphegory]

I certainly did not make anything up!

Go look at belphegory on the leaderboards under the PATS, my record speaks for itself!

You shouldnt be getting any error message unless either your trade amount is too low or your API is incorrectly set up.

My referral link gives me next to nothing, I don't use it for me, I use it so you guys get more than 3 strategies cos that's just not enough to get started.

What is the error message?

Regards

[arisatox]

I certainly did not make anything up!

Go look at belphegory on the leaderboards under the PATS, my record speaks for itself!

You shouldnt be getting any error message unless either your trade amount is too low or your API is incorrectly set up.

My referral link gives me next to nothing, I don't use it for me, I use it so you guys get more than 3 strategies cos that's just not enough to get started.

What is the error message?

Regards

I posted the error message already. It is this one

Please upgrade your account from the HOME page to start trading.

It does not matter what I try to do because any time I try to set something up that is the only thing that pops up...