Botting v manual trading

[jackg]

In fact, there are a bunch of bots that are quite useful, i have been using one for a while, but because ot this bear market, it is almost impossible to make a stable profit.

I have stopped using it, and i am going to start using it again as soon as the market recovers a little (there has been a depression for more than a few months already)

It;s not a very good botif it can’t be adapted to a bear market is it?
Is it a usd/btc style bot (i.e fiat to btc) or is it a btc/alts bot? I reckon you will probably have to spend some time finding a bot that works as well as yours does in a bull market, in a bear market and thus stabilise your returns more. Is it a bot that you have written or a bot that you have bought? If it’s one that has been bought, what is its name?

[BlueStackz]

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.

The truth of it all is that you cannot know the right coin. Even in the midst of the market recovery, some coins will do well, some will just move a little bit and some will not move at all, as I have been there and that is why you really just need to choose some few markets that you can spread the risk across, and know they are not more than you can handle at once, and then try to look for a good entry based on some signals and your strategy and then see how that would play out. One thing is that in most cases, you will still get to make profit on recovery but most importantly, just make sure you are not just trading some shit coins.

[0xBitcoins]

Bot's main function is to profit by correcting some abnormalities in the patterns. It does not serve to make you very rich, after all, you are the one who will be responsible for tracing the strategies. It will help your actions, in the trade, by accurately reflect these previously thought you have.

In the Cryptomarket there are always opportunities in the BTC / Alt pair. It's a very big correlation. And in many cases, Trader exaggerates in a buy or sell order, this opens many opportunities. I think the most important thing is to choose the exchange that Bot will use. Binance seems to me the most used, so the opportunities may be smaller there than in other exchanges. But risking an exchange without volume and low reputation can be bad as well.

But Bot's biggest advantage is that he's cold and does whatever he's told to do. A manual trader can always have more confidence than he should and always try to earn a little more. And with that, end up losing everything.

Sometimes bots have been programmed so amazingly that they can extract out some plan. However mostly, it has been observed they are still not giving out any positive vibe in case of bitcoin.

[chocolah29]

Everything strategy for trading have advantages and disadvantages.  Your job as a trader is to use the most advantageous strategy at you disposal or combine different positive side of each strategy. Botting could be good or bad,  manual could be slow and steady!

It depends on our time, there will be time for botting and if we want some chances to do manual and do it by ourselves it will be better to do so since we have control on everything we do.

And that's more pretty accurate then.
Using a bot will just ruined your trading as cryptos are so volatile and can just make you to lose more. Why pay for a bot that eventually will give you headache? Just trust your skills and it will lead you to betterment.

[eann014]

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?

Why don't you try to make it happen if you want to keep a bot running to increase the amount of money while you are waiting for an altcoin to go up then try it for you to know the result? There is nothing wrong on trying and wait for it if you will get profited with that strategy, we need to have to decide to our own now because as of now all predictions are just predictions and no one can tell us the right thing to do.

[gabmen]

Everything strategy for trading have advantages and disadvantages.  Your job as a trader is to use the most advantageous strategy at you disposal or combine different positive side of each strategy. Botting could be good or bad,  manual could be slow and steady!

It depends on our time, there will be time for botting and if we want some chances to do manual and do it by ourselves it will be better to do so since we have control on everything we do.

And that's more pretty accurate then.
Using a bot will just ruined your trading as cryptos are so volatile and can just make you to lose more. Why pay for a bot that eventually will give you headache? Just trust your skills and it will lead you to betterment.

Yeah you learn less when you use bots since you let it work the market for you. You don't get to make observations that much which for me, is quite essential if you're aiming to be a more efficient trader. If you don't have that much time to focus on the market though, i think that's where bots can come handy.

[BlueStackz]

Everything strategy for trading have advantages and disadvantages.  Your job as a trader is to use the most advantageous strategy at you disposal or combine different positive side of each strategy. Botting could be good or bad,  manual could be slow and steady!

In most cases, manual seems to just be the best way to handle trades. I am not saying using bots cannot be promising at times, but when it comes to bots, there is always a season for it and if you still do not try to keep some lookout into the market, to know when to get your bots activated or not, you might get yourself screwed.

Like you said, what is most important is to have a good strategy and then know how to execute them, and if you have a pretty good one, bots will always help you execute them well without emotions or discretion, but you still need not get too relaxed.

[jrrsparkles]

I think the manual trading is the best to make the desired profits when you are much skilled with the trading and actively involves or long term trader but bot maybe only suitable for short term traders.As I am not a regular trader so I invest on the altcoins to sell it when they go bump and will invest on other coins with the profits made from the last trade.But I don't think no one is going to double their coins with the current bull run.

[Not_A_Rocket_Scientist]

If you want something done right, do it yourself
I do understand that you also need to spend some time to tell the bot how to trade, but manual work will always give a better result in anything that you want to do. Some guys here on the forum might say, that they have an access to the 100% working bot that doesn't need any customization, but I don't believe that this is true.

[CryptosD]

But to minimize loss you should learn how to trade, chart, Tech analysis, fundamental analysis and sentiment analysis for manual trading.
It will be great to learn how to trade manually and trade with free automated trading bot that can be set up in 10 minutes. But for newbies it can be problematic.. But I adore the Trade Santa bot interface because it's easy to use and I like their simple interface.

[liuqi]

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.

Another alt account is found in 3x2 so your thought is not impressive in any one so you should stay away in trading section is the right move. Nowadays peoples are expecting quick profit in any investment so manual trading is improve our skills and it will be more convenient for all the investors.

[macstrong12]

I haven't used bot tradings myself but i know some people who used , there are very different types of bots like trading ones or arbitrage bots , They were happy in bullish market but in bearish market they don't do well mostly because they cant get fundamental info as an input.

[EXtremeAEX]

I  think bots are a bad idea. A bot is good if you know how it works and you can make changes to its work (correct) at any time. That is, bots are good for those traders who develop them.
Also, don't forget that a bot is just a program created to perform automatic functions. That is, in an unusual situation, this bot can make you bankrupt in a matter of hours.

[timmydakolo2]

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?

The idea is quite welcomed but knowing those 100% altcoin that will survive the market crash will be harder. All this happens when we have lots of FUD running in the atmosphere and not letting investors in the market for it to move.

[Iykecollins]

This sounds good when marker follows a particular and consistent pattern but unfortunately it doesn't, if you have monitored a particular coin doing a repetitive pattern, you may be luck it works out at the first time but eventually it will show you why it is crypto, personally I shy away from anything bot irrespective of how well developed

[fasdorcas]

In fact, there are a bunch of bots that are quite useful, i have been using one for a while, but because ot this bear market, it is almost impossible to make a stable profit.

I have stopped using it, and i am going to start using it again as soon as the market recovers a little (there has been a depression for more than a few months already)

It;s not a very good botif it can’t be adapted to a bear market is it?
Is it a usd/btc style bot (i.e fiat to btc) or is it a btc/alts bot? I reckon you will probably have to spend some time finding a bot that works as well as yours does in a bull market, in a bear market and thus stabilise your returns more. Is it a bot that you have written or a bot that you have bought? If it’s one that has been bought, what is its name?

The main trouble is, because bots do not have the emotional baggage people have they also do not have that "gut feeling" we have as well. Now the difference between those two, when you are doing a botting during a bull market, without any emotion that would be amazing, with your gut feeling you may get scammed or something by someone or some ICO or whatever.

However on a bear market it is amazing that you can use your gut feeling, worst case scenario you will lose money in a bear market just like everyone else and just like bots do, however when you somehow find there is a possible reason for bitcoins to go down again and stop your trading and cash out before a storm comes or early moments of a storm, you will react much better then a bot. That is why I have always supported the idea that bots are for bull runs, manual for bear runs.