Should trading bots be banned?

[krach]

I think trade bots as well as API functionality should be removed. Whats wrong with just logging into a website to do your trading? It would give the markets a whole lot more stability when they aren't being manipulated by programmers.

Not really. In fact some bots keep the market stable. Without bots 100% human, is 100% emotion. Then the swings are even worse! Do you trust placing a stop loss order at an exchange, they could easily "stop loss fish" your order.

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[Harley997]

I think trade bots as well as API functionality should be removed. Whats wrong with just logging into a website to do your trading? It would give the markets a whole lot more stability when they aren't being manipulated by programmers.

Not really. In fact some bots keep the market stable. Without bots 100% human, is 100% emotion. Then the swings are even worse! Do you trust placing a stop loss order at an exchange, they could easily "stop loss fish" your order.

Bots, generally will not be profitable for their owners, but that is not a reason to ban them from being able to be used.

Bots are very similar to high frequency traders on the stock market, except they don't have the same advantages. High frequency trading does provide liquidity to the stock market.

[profitofthegods]

I often feel that I would love to ban bots, or rather trade on an exchange which doesn't enable them through their API, but at the same time I feel guilty for wanting that because I don't want to be a luddite.

[krach]

Traders

, generally will not be profitable

bot or no bot

a bot is just a tool

[snuppy]

Traders

, generally will not be profitable

bot or no bot

a bot is just a tool

good tool which work 24/7

[counter]

I really don't like the idea of banning things outright.  I think the community needs to discuss and workout some from of regulations for proper use of a bot.  I doubt all who use a bot use it to disrupt the market.  I thnk that gives some form of standard that people can identify as proper use of a bot.

Obviously exchanges would have a good bit to add in this discussion if their was ever any real attempt to regulate the usage of bots.

[iflash]

Another regulation? Really?

Bitcoin was invented because we have too much regulation, not too little. If someone writes a bot, let him do so. I see no reason why this should be regulated/banned at all.

[titulng]

It shouldn't be. Bots can liberate our time to do other things.

[sandykho47]

I think it shouldn't banned hard to banned
buy and sell stock, gold, oil. people often use bot

but there are way to decrease bot usage :
- CAPTCHA every trading action
- no shared API
- trading limit

but remember, bot just a software. sometimes it can do something wrong

[jlaws]

Bots usually play a conservative logical strategy that can be worked around or even used to your advantage if you figure out exactly what that strategy is by feeling one out. I think you'd have more to fear from the sort of conspiratorial manipulation of price perpetrated by well-funded small groups (sometimes even individuals) across all the major exchanges. They're responsible for the instability in most markets. The unreasonable highs and lows and constant swinging value of popular coins is mostly a product of their efforts.

[polynesia]

The break out in btc prices from $100 to $1000 is attributed to bots. Bitcoin has not gone back to $100 since then.
So maybe, those 2 bots have benefited the bitcoin community after all.

[Panthers52]

I think trade bots as well as API functionality should be removed. Whats wrong with just logging into a website to do your trading? It would give the markets a whole lot more stability when they aren't being manipulated by programmers.

Not really. In fact some bots keep the market stable. Without bots 100% human, is 100% emotion. Then the swings are even worse! Do you trust placing a stop loss order at an exchange, they could easily "stop loss fish" your order.

This is correct, however it is very possible to profit over other's fear and greed.

[krach]

This is correct, however it is very possible to profit over other's fear and greed.

trading 101

[negafen]

Speculator and trading bot are needed for a healthy system.

[polynesia]

Speculator and trading bot are needed for a healthy system.

True.... Speculators, bots, anybody else is welcome.. As long as they don't affect market integrity.

[worldinacoin]

I think we should leave this to demand n supply. There is no reason to block bot as much as it is to block HFT.

[cryptofan5]

I think all financial industry is now very much automated with up to 90% of trades in forex and share market conducted using bots or EAs. You can't ban that. But of course each exchange can implement its own rules regarding using certain bots.

[Sunbitch]

hope it will be banned, i don't like bots.

[Srbotones]

There are two bots that have been acting all day long in a very suspicious way. Or may be just one... buying and selling without any sense.

I suspect that the owners of those 2 bots are btc-e and their purpose is to money laundering. Every buy/sell order has their own fee...

In result BTC-e is having tons of free fees as a result  of this bot/s.

I can only speculate on this information and there is really no evidence for this except we could access the BTC-e logs and examinate them.

[Skoupi]

The majority of bots that's being used in bitcoin trading, use kindergarten level trading algorithms.
The only people that would benefit from a ban is their owners...