Should trading bots be banned?

[hope4me]

Please ban trading bots, a lot of bot flooded bitfunder and they keep puting 0.0000001 BTC higher then your selling price or 0.000001 BTC lower then your buying price....

Just dont care about these bot orders, they keep puting 0.0000001 BTC higher then your selling price but the selling amount is insignificant

[krach]

"and what is this "trade signal"?"

Well it could be almost anything depending on the bot.
For exampe the "price" could be the signal.
Price = X --> Buy "set ammount"
Price = Y --> Sell "set ammount"

[Jabbatheslutt]

You can't really ban some of them cause they look real

[dddbtc]

Please ban trading bots, a lot of bot flooded bitfunder and they keep puting 0.0000001 BTC higher then your selling price or 0.000001 BTC lower then your buying price....

Anyone who is serious about trading securities or bitcoins themselves should be able to spot stupid traps like that and understand how to not fall victim to them.

Look at the order book.

Remember: There is always someone content at selling at a lower price than you

[Eobot]

No!

[mrhelpful]

To be honest, I never knew there was a trading bot til now. 

[zvs]

Easy way to limit them would be to charge a fee for placing limit orders

[waltermot321]

Please ban trading bots, a lot of bot flooded bitfunder and they keep puting 0.0000001 BTC higher then your selling price or 0.000001 BTC lower then your buying price....

Just dont care about these bot orders, they keep puting 0.0000001 BTC higher then your selling price but the selling amount is insignificant

Well the problem is because their selling amount is significant

[LiteCoinGuy]

You shall learn that there trading bots everywhere, buying and selling oil, metals or currencies. Unfortunately, there is just no way to ban them. Often, you can't even tell they're bots.

yep, exactly. the complete NYSE is full of bots... 

[Corenin]

Yes, ban those trading bot please..

[QuantPlus]

HFT programs help maintain liquidity in the exchanges. You stripped them away, you get more unstable prices.

Very few people understand how HFT works.

Your typical exchange or ECN has 300 order types (NYSE, NASDAQ, etc)...
And there are only 2-3 Special Orders that matter to HFT...
The ones that put you straight to the front on the line.

If you pay the exchange large fees...
You get access to these Special Orders.

Therefore, HFT is just a massive scam by Wall Street to swindle the Middle Class.

http://www.risk.net/risk-magazine/feature/2261626/exchange-order-types-prompt-fears-of-hft-conspiracy

 

[grv]

Far from normal. Easy to ban, just limit orders in API.

there are many more ways of dealing with bots
+ set minimum allowed amount of single order equal to 10 or 100 usd (to get rid of all that 0.000001 junk and chump change "orders"). such a waste of resources (all those unnecessary connections to servers)
+ set limit 1 order per account per 10 minutes
etc

[itod]

HFT programs help maintain liquidity in the exchanges. You stripped them away, you get more unstable prices.

Very few people understand how HFT works.

Your typical exchange or ECN has 300 order types (NYSE, NASDAQ, etc)...
And there are only 2-3 Special Orders that matter to HFT...
The ones that put you straight to the front on the line.

If you pay the exchange large fees...
You get access to these Special Orders.

Therefore, HFT is just a massive scam by Wall Street to swindle the Middle Class.

http://www.risk.net/risk-magazine/feature/2261626/exchange-order-types-prompt-fears-of-hft-conspiracy

Is there a way to get more insight into this without having to pay for the content? Edit: or giving away massive amount of personal info?

[TheButterZone]

Bot only exchange, human only exchange.

P.S. Any exchange that at any point has more lag than NYSE et al, is a disgrace.

[QuantPlus]

HFT programs help maintain liquidity in the exchanges. You stripped them away, you get more unstable prices.

Very few people understand how HFT works.

Your typical exchange or ECN has 300 order types (NYSE, NASDAQ, etc)...
And there are only 2-3 Special Orders that matter to HFT...
The ones that put you straight to the front on the line.

If you pay the exchange large fees...
You get access to these Special Orders.

Therefore, HFT is just a massive scam by Wall Street to swindle the Middle Class.

http://www.risk.net/risk-magazine/feature/2261626/exchange-order-types-prompt-fears-of-hft-conspiracy

Is there a way to get more insight into this without having to pay for the content? Edit: or giving away massive amount of personal info?

You probably have to be an "institution" that does business on the Exchange Level...
Such as an Exchange Member, bank, Broker-Dealer, Hedge Fund, etc...

[worldinacoin]

Nowadays even shares, forex etc are all using trading bots, how do you ban it?  It will only get more and more popular.

[lindatess]

No, because they provide liquidity as well as exacerbating bubbles and busts.

As long as you aren't speculating, the extra liquidity is good for us using it as a temporary exchange medium..

[Johanna]

Ban please, they are really annoying.....

[Rupture]

I don't think it's possible to get rid of bots entirely.

[hevers1981]

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.