Botting v manual trading

[jackg]

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me ). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

[mk4]

Well, in theory, that could definitely work. But of course, the actual challenge there is picking the right ones, which is probably a lot harder than you think.

Also, remember that when the cryptocurrency markets crashes, altcoins usually tend to crash in bigger percentages. So if you were to continue on with this strategy, probably start on with small amounts first just to test things out. Best of luck.

[maydna]

I want to try every possibility after I finishing the analysis and I think it could work for this moment and I don't think that is a bad idea to try. And if you said that the price will do the same again, then I will wait for the coin to gets the lower price so I can buy and wait for the coins to double the price. And if it's only happening in bitcoin, then I will gladly to buy bitcoin and waited for a while. To buy altcoin right now could be profitable too but still, it's too risky, we don't know how long the altcoin can reach the higher price. Besides that, it still profitable if we can make money from bitcoin than the altcoin at this moment.

[joniboini]

I'd suggest you wait for 12 December or at least before SEC stance on ETF is clear enough. Anything that happens after that will greatly affect the market, even if you pick a very good coin there's still possible that you'd end up losing your money when Bakkt launch gets postponed or ETF got denied or being delayed again. After that, you can use your strategy. Hell, even if you pick shit coins it will still give you decent profits in a bull run.

[jackg]

I'd suggest you wait for 12 December or at least before SEC stance on ETF is clear enough. Anything that happens after that will greatly affect the market, even if you pick a very good coin there's still possible that you'd end up losing your money when Bakkt launch gets postponed or ETF got denied or being delayed again. After that, you can use your strategy. Hell, even if you pick shit coins it will still give you decent profits in a bull run.

Hmm that’s probably true, there are a few shifts in trading patterns every few years as bitcoins price goes up that knocked all of the altcoins down never to reach where they once were.

I think cash will take the highest fall this time, it’s serioisly overvaluedmat this point anyway.

I have a reserve of a 0.5 btc cold storage casascius coin if everything goes wrong with my strategy, I’ll probably only out 0.3 btc into it.

[BitHodler]

I'd suggest you wait for 12 December or at least before SEC stance on ETF is clear enough. Anything that happens after that will greatly affect the market, even if you pick a very good coin there's still possible that you'd end up losing your money when Bakkt launch gets postponed or ETF got denied or being delayed again. After that, you can use your strategy. Hell, even if you pick shit coins it will still give you decent profits in a bull run.

I don't see how anything other than an ETF approval will actually affect the market. Another delay or rejection is already calculated in the price because most people already know it won't be approved.

In other words, nothing will happen at all on that front. I had a look at the charts, and it seems that the first months of each year aren't the best months for Bitcoin, which means that an increase is even more unlikely.

In a previous reply in a different thread I was referring to tax sales being a factor to focus on with how we are dealing with more startups, hedge funds, VC's, and so forth. It means more selling pressure in and after January.

I rather remain on the side waiting for the market to signal bullishness before digging in. The risk v reward ratio when it comes to trading right now is very poor.

[leowonderful]

I'd honestly try both holding and also a bit of trading as well. I've never had great luck with bots, and that might just be due to my lack of experience with them, but it's always good to never put all your eggs into one basket. Most bots can be extensively configured, and it takes quite a bit of learning to configure your bot to trade at its best during a bull or bear market. Trading bots also require more maintenance than most people think.

Investing into a casino is a good low-risk investment that I've had very few problems with in the past, but make sure you're only investing as much as you can afford to lose in the end. There's no guarantee you'll get your money back if something happens to the casino you invested in, and the casino loses its funds.

[1Referee]

In a market dominated by algorithmic trading activity I feel like an 80 year old still doing everything the old way. I am not a programmer, which means that I have to blindly trust someone would I ask that person to verify if a bot is clean or filled with bugs and backdoors. It's a risk I'm not willing to expose myself to, and yes, that may be paranoid, but I highly value my Bitcoins.

Wait for the next bull run to kick in. Altcoins always accelerate far past Bitcoin in terms of cold hard percentage gains. As soon as the market starts to bubble up, take an altcoin with enough liquidity (I prefer Ether) to ride the market up.

I think cash will take the highest fall this time, it’s serioisly overvaluedmat this point anyway.

If you're referring to BCash, then you are spot on. I'm closely monitoring the situation and have a good time reading through their internal warfare. I'm kinda certain that I will short them just before the fork takes place. The only danger here is that Bitmain might pump BCash afterwards, all to attract more hashrate with an economical incentive.

[Supercrypt]

I have tried both and came up with both same results. First of all botting is only viable if you have no idea how and why people trade certain things or you have no time to trade and a busy person who doesn't want to miss out on the trading profits.

Nevertheless, no matter what botting is still only possible when the market is going up, if the market is bear and you have money tied to some bot than you will be losing most of your capital rather quickly, which is exactly the same when manually trading, if the market is bear you won't be profiting manually neither. Considering all of this as negative, there are of course positives, if you are botting on a bull market you are gonna make a lot of money, money that you normally wouldn't if you weren't involved in crypto, however you can also make money manually trading on a bull market as well.

[Zadicar]

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me ). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

Invest on altcoin is my choice but same as said above choosing which one would always be the challenge.Talking about botting and manual trading neither which way there would be always the same outcome yet
they would always tied up on the market trend.

If you're referring to BCash, then you are spot on. I'm closely monitoring the situation and have a good time reading through their internal warfare. I'm kinda certain that I will short them just before the fork takes place. The only danger here is that Bitmain might pump BCash afterwards, all to attract more hashrate with an economical incentive.

Sell on news which a common suggestion we do follow but the risk on missing out potential or possible profits is there.I've been eying this one too.

[omonuyak]

The strategies you just said is a common strategy and you really need to buy a good coins that can recover from the downward trend in other to make profit when there grow or bance back .  If you want to use bots for this it might keep buying those coins that are death or be abandoned by the developers and you will lose your investments at the end of the days. 
You should spend time practicing this strategies you have mentioned and then buy those coins by yourself instead of using bots.

[gantez]

The strategies you just said is a common strategy and you really need to buy a good coins that can recover from the downward trend in other to make profit when there grow or bance back . 

My question is this, whether a good coin or not, can we say that the good coin can rise when bitcoin is still bearish?  And we know the answer is no. So bitcoin for now is the leading while every other coins will follow.

[ShowOff]

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me ). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

I will prefer to do manual trading than use bots because i know i am not really good when setting it. My friend said good bot with bad setting will only make us loss. That is why i still prefer on manual trade because i can feel how i am trade.

[jackg]

The strategies you just said is a common strategy and you really need to buy a good coins that can recover from the downward trend in other to make profit when there grow or bance back . 

My question is this, whether a good coin or not, can we say that the good coin can rise when bitcoin is still bearish?  And we know the answer is no. So bitcoin for now is the leading while every other coins will follow.

I don’t think it’s that clear cut.
A good coin can rise when bitcoin is in a bearish phase as people will get bored of the extended lack of optimism and try to diversify their assets into other coins and see if they can make a profit from it.
There’s probably at least 10 not so shit altcoins that can have their value changed in a pump-dump while bitcoin investors get bored of their hodling...

[tradebtcEU]

Using a bot under certain circumstances may be a good idea but you should not let it run alone for a tool long time. Then just trading on reversals, a form of trading implied by your strategy is not a good option. Why choosing double instead of 20% or 300%?

I also realize that algorithmic trading is obsolete, AI replaces algorithms. Sure, Ai itself is based on standardized functions in interpreting the data but it is totally different from traditional algos, because it allows you to train the machine and refine the code.

My point is that one needs to combine different methods for successful trading. You cannot expect a bot seeing certain things that you can. Same with AI, you cannot see some correlations, which a machine, fed with proper data, can analyze with better results.

[herurist]

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me ). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

I don't like using bot in any purposes specially to wait or get profit. You can do any activity to rise your higher skill in other platform, such as built blog/ web, fb ads and you tube channel. I agree with leave crypto for now and come back again next year. Don't push too hard just enjoy the journey.

[emberbekas]

Well, in theory, that could definitely work. But of course, the actual challenge there is picking the right ones, which is probably a lot harder than you think.

Also, remember that when the cryptocurrency markets crashes, altcoins usually tend to crash in bigger percentages. So if you were to continue on with this strategy, probably start on with small amounts first just to test things out. Best of luck.

Yes, picking the right coins to get double in price would be so hard. And mostly when we are in the wrong decisions, we already buy and hold a coin but the price didn't show the good trend, we could change our first plan. In trading, everything looks easier at plan but honestly, it will become complicated as we start to make some actions.

[Brandy007]

Botting is good when market is either bearish or bullish and if market fluctuates too frequently then botting will result in loss while by manual trading you have the due diligence.

[Indrawan77]

I dont see that as a good idea, most of the people losing money because of the trading bot, and it need a complicated setting to increase the chance of making profit, its better to do manual trading, you can increase your knowledge and learn more about the market condition, for me its better to stock top coins rather than put a risk on alt coins

[posi]

I'm thinking that I know a strategy to double my Bitcoin holdings (yay me ). I'm wondering if, while waiting for an altcoin to go up in value, can I keep a bot running to try to increase the amount of money it makes or is that a bad idea (essentially, the strategy is simple, buy an altcoin while it's cheap and wait for it to double - i monitored said coins last two cycles and believe it'll do the same again). Would you do this or try to invest the altcoin in a casino and wait for its value to (hopefully as nothing is certainly) increase?

All the strategies you mentioned are pretty good means of double ones investment  I'm sure you can handle well the buying an altcoin when cheap and sell when high part because the right coins and time of entering the market are the mistakes which most investors/cryptonier usually made.
Concerning the not trading, have heard and research alot about it but don't know how to start one. Could pls tell me the step by step tips. Thanks.