Autotraders for newbs

[bitshekels]

Hey all,

I haven't started yet with cryptocurrency, but I will be soon. I've looked in to a lot of options on how to make BTC and autotrading sounds great. Instead of just holding on to crypto (which requires 0 effort but you never earn more than the coins you started with) or manually trading (where you can get more crypto than you started but you have to spend all day watching currency exchange rates), you can let a bot do the trading for you and only intervene if you hear something in the news... Almost no work AND you earn coin...

However, I've only found a few mentioned on this forum (C.A.T and GUNBOT), and they cost several hundred USD and are closed-source.  Sounds scammy...

Google isn't too helpful either. The only FLOSS crypto trading bots I've found are Zenbot and Gekko, but they both report "losing money" as outstanding bugs.

I think the best option seems to be https://cryptotrader.org/, since they have a large selection of free algorithms. I'm planning to try using them when I start next month and I'll let you know how it goes.


My questions are:

1: Has anybody here used cryptotrader? Would you recommend it? How much profit did you make?

2: Any tips on using other autotraders? Do they work?

3: Can we get a sticky somewhere comparing the most popular autotraders?

Thanks!

PS: First post... Happy to be here! 

[h55]

Hey all,

I haven't started yet with cryptocurrency, but I will be soon. I've looked in to a lot of options on how to make BTC and autotrading sounds great. Instead of just holding on to crypto (which requires 0 effort but you never earn more than the coins you started with) or manually trading (where you can get more crypto than you started but you have to spend all day watching currency exchange rates), you can let a bot do the trading for you and only intervene if you hear something in the news... Almost no work AND you earn coin...

However, I've only found a few mentioned on this forum (C.A.T and GUNBOT), and they cost several hundred USD and are closed-source.  Sounds scammy...

Google isn't too helpful either. The only FLOSS crypto trading bots I've found are Zenbot and Gekko, but they both report "losing money" as outstanding bugs.

I think the best option seems to be https://cryptotrader.org/, since they have a large selection of free algorithms. I'm planning to try using them when I start next month and I'll let you know how it goes.


My questions are:

1: Has anybody here used cryptotrader? Would you recommend it? How much profit did you make?

2: Any tips on using other autotraders? Do they work?

3: Can we get a sticky somewhere comparing the most popular autotraders?

Thanks!

PS: First post... Happy to be here!  

I try to describe you simply. cryptocurrencies is not depended on technical only! some other parameters effect on the prices. for example, when china banned exchanges activity, the BTC crash had been so huge, and any auto traders bots could not predicate the price. so:
1- I had been used Auto traders  but I damaged; when am be a newbie. I do not recommend for you
2- see the Fate of Bitconnect project, they used auto trader.
3- yes, only Learn technical be inside fundamental trading.

[desperatenuf]

there aren't any good ones and there can not be

[vlom]

gunbot is not foss. yes, but its not a scam. it works if you know how to use it.

[bitshekels]

Right, I may not be a rich or highly educated trader, but an auto trader seems extremely flawed.

...

Apologies if my example confused you, but I hope you got my meaning. Just a newbie giving his 2 cents.

Not confusing at all, that makes perfect sense. But stock trading bots can return consistent profits in an arguably much more complex environment, because they use AI and pattern recognition.

Are there really no bots out there with a slightly better algorithm than "buy low, sell high"?

I heard there are some pretty advanced algorithms on cryptotrader.org - Does anybody have experience with that site?

gunbot is not foss. yes, but its not a scam. it works if you know how to use it.

I see that you sell gunbot... Does it work? Have you made a profit? What algorithm does it use? And... if it works, why do you need to sell it?

[lifejyy]

Cryptotrader interface is not friendly, it is difficult for beginners to master

[hanhduong776]

Newbies should read and learn about crypto-ecosystem (its mechanism, what is scam project, how whales manipulate the market, etc.) before considering about using auto-trading softwares. It is just my opinion.

[BinManR]

Newbies should read and learn about crypto-ecosystem (its mechanism, what is scam project, how whales manipulate the market, etc.) before considering about using auto-trading softwares. It is just my opinion.

Information is very useful. Thanks for your enthusiasm.