What is the best Bitcoin robot?

[aussiebitcointrader]

I had a go at using The Bitcoin Code robot and I was promised it would win 65% of the time. I decided to give it a go and in the event it happened to be a flat day on the cryptocurrency market and it made 10 trades only five of which finished in the money. And the losses where bigger than the gains. I didn't really think 65% sounded like what I call very consistent in the first place.

Does anybody know of a robot that as a winning percentage a little bit higher than that?

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[btc_angela]

I won't recommend you any but I have to say that you need to understand all this bot. You just won't go and purchase the and expects money to come in clockwise. You need to understand all the settings and fine the correct combinations. The next bot you gonna be purchase might give you the same results, so it doesn't matter if you buy a lot of bots, if you don't know how to set it up properly then you will lose money here.

[joniboini]

There is no robot/trading strategy which can give you a guaranteed 65% returns, it really depends on your trading strategy. Instead of buying paid bot like that, you might try to use your own bot and your own strategy. Gekko is an open source trading bot where you can make your own strategy and run it on various exchanges.

If you still want to look for a paid bot, then you might want to try GunBot, FoxBot and so on. You can find their details on the Services section.

[justspare]

I won't recommend you any but I have to say that you need to understand all this bot. You just won't go and purchase the and expects money to come in clockwise. You need to understand all the settings and fine the correct combinations. The next bot you gonna be purchase might give you the same results, so it doesn't matter if you buy a lot of bots, if you don't know how to set it up properly then you will lose money here.

I don't think that setting up a bot will be that much hard but as far as I have seen that no bot will be versatile enough to withstand all the market fluctuations. I mean to say you cannot setup a bot to make profits along with how a market is trading. If you go for studying how the bots is being created then you can easily trade in that manner by yourself. Bots may be good for certain market conditions but definitely cannot trade like how we will do and how will take care of our capital.

I have tried few bots both in forex and crypto trading but finally concluded I am doing better than any bots. But, in between time I lost some big money. I'm not sure how money people are going to experience the same just for the reason of not finding enough time to learn and practice trading skills.

[anu1908]

I mean to say you cannot setup a bot to make profits along with how a market is trading. If you go for studying how the bots is being created then you can easily trade in that manner by yourself. Bots may be good for certain market conditions but definitely cannot trade like how we will do and how will take care of our capital.

That mostly happens because bot relies on technical strategy, so sudden change in fundamental will screw them up. However, we can also blame that on the API provided by the exchange. Most exchange doesn't have something like trailing stop-loss where it change the stop-loss automatically after the price fluctuate to ensure we still get profits when there's a little pump. There is yet an exchange who provide these complex trading features (there's an ICO/exchange called Bitozz which aims to do this but their product is still not yet live last time I checked on them).

[randythered]

The amount of times a bot is correct isn't what matters, unless going for a fixed percentage gain/loss every time. A bot can be right only 10% of the time but make 1000% returns that 10% and only lose 1% the other 90% of the time. That's a great bot to find.

All that being said. Try avoid paid bots, they're mostly scams, if they were that successful they wouldn't share them.

[wuvdoll]

I won't recommend you any but I have to say that you need to understand all this bot. You just won't go and purchase the and expects money to come in clockwise. You need to understand all the settings and fine the correct combinations. The next bot you gonna be purchase might give you the same results, so it doesn't matter if you buy a lot of bots, if you don't know how to set it up properly then you will lose money here.

I don't think that setting up a bot will be that much hard but as far as I have seen that no bot will be versatile enough to withstand all the market fluctuations. I mean to say you cannot setup a bot to make profits along with how a market is trading. If you go for studying how the bots is being created then you can easily trade in that manner by yourself. Bots may be good for certain market conditions but definitely cannot trade like how we will do and how will take care of our capital.

I have tried few bots both in forex and crypto trading but finally concluded I am doing better than any bots. But, in between time I lost some big money. I'm not sure how money people are going to experience the same just for the reason of not finding enough time to learn and practice trading skills.

Yes, people are looking for bots as they are not believing themselves to learn and practice all the required things of trading. I'm not seeing anyone is making profit from automated environments like dicing, automated surfing and many other similar things, hence it will not be possible with automated trading too. If automated trading is a way to make easy money, then everyone will be going for it then it will be at another highly competitive space hence no one could make profits in consistent manner.

Most people are not ready to understand these fact but simply wasting their money in purchasing such trading bots and then risking their hard earned capital. Bots may work or may not work but if we work hard to make ourselves as a professional trader then we can easily achieve that at some point of time. This will be producing consistent results in trading for sure.

[joniboini]

Yes, people are looking for bots as they are not believing themselves to learn and practice all the required things of trading. I'm not seeing anyone is making profit from automated environments like dicing, automated surfing and many other similar things, hence it will not be possible with automated trading too. If automated trading is a way to make easy money, then everyone will be going for it then it will be at another highly competitive space hence no one could make profits in consistent manner.

IMO trading bot is just tools, mainly relies on the beliefs that TA works, which is why all strategy on trading bot is technical analysis. As someone who used it before, I can say that it works as long as you can use it correctly. If the market is full of fundamental surprises then using a bot is not a good idea. The bot can't help you if you don't understand how TA works, but it might help you a little if you don't have time to trade and the market is 'friendly'.

[deandree]

You don't need BOT, bot is dark box where you don't know what's going on, somebody promises you X% but it always ends the same - you lose money. Because seriously - why would someone just give you money for free? Market is a zero sum game. If somebody just gives you bot with X%, that is money out of their pockets. Also, each strategy has limited number of % (Alpha) it can give. If you give it to 3 people, well guess what, now it's not X% anymore, now it's X / 3 %. You just gave away your money.

If you want to automate stuff - what you need is a PLATFORM, not a bot. A platform, that handles automation, integration with exchanges etc etc, but YOU handle the strategy. You define when to buy and when to sell.

Always look for free and open source platforms. Most paid stuff is just scam.

One such platform that I can suggest is Gekko. If you want to see real, reasonable results that you can achieve (not +100% per month when market is 80% down), check my Medium posts, where I test different open source strategies and analyze their results.

https://medium.com/@deandree
https://medium.com/coinmonks/crypto-trading-2018-in-review-17-advanced-15-neural-net-strategies-tested-part-7-d308963d13e9

For example, here I tested 17 strategies with 120m Candles through a whole year 2018:

[justdimin]

I had a go at using The Bitcoin Code robot and I was promised it would win 65% of the time. I decided to give it a go and in the event it happened to be a flat day on the cryptocurrency market and it made 10 trades only five of which finished in the money. And the losses where bigger than the gains. I didn't really think 65% sounded like what I call very consistent in the first place.

Never believe into any trading bot. Because they are all just pre-programmed codes for certain market conditions and they will never react for your new condition as market is always known for unknown things. In my opinion, trading with bots is very much similar to gambling.

Because, you are believing in to someone else's skills and programming knowledge but not definitely on your trading skills and analysis. It is always proven if you go with the help of third party (in any form) for your trading, results may not be up to your expectation most of the times. Believe into your trading skills and if you are no confident on yourself then go for learning and practicing new techniques. Without that, trading with the help of bots is very dangerous for your capital one day or other.

[davinchi]

Never believe into any trading bot. Because they are all just pre-programmed codes for certain market conditions and they will never react for your new condition as market is always known for unknown things. In my opinion, trading with bots is very much similar to gambling.

Because, you are believing in to someone else's skills and programming knowledge but not definitely on your trading skills and analysis. It is always proven if you go with the help of third party (in any form) for your trading, results may not be up to your expectation most of the times. Believe into your trading skills and if you are no confident on yourself then go for learning and practicing new techniques. Without that, trading with the help of bots is very dangerous for your capital one day or other.

That must be true. Trading bots may not produce consistent results like how human brains are usually adopting new market conditions and situations. Regardless of these, I'm seeing a lot of people are going for trading bots and such bots are all being advertised in this forum more frequently. Probably these people are using bots for some tasks but not at all for making decisions on buying and selling.

We cannot be sure about making profits for all the times by using bots but I have some traders are using bots time to time along with their usual trading and they are able to manage into crypto trading for last 2 to 3 years.

[crairezx20]

If you use a bot without any knowledge how the bot works you can't make any profit on trading.
I suggest you to learn how to set up the bot in the right settings to make you profit.  I recommend you to try Gunbot it is a well-known trading bot with default settings that can make you profit. You can check their thread here https://bitcointalk.org/index.php?topic=1715214.0 and also check their strategy that listed on the first page I'm sure you will learn how to setup it and get some strategy to make a positive profit.

[CryptoReggae]

After the fork (not all), after the ico (not all), now it's up to the bot scam

[sana54210]

Trading bots may not produce consistent results like how human brains are usually adopting new market conditions and situations. Regardless of these, I'm seeing a lot of people are going for trading bots and such bots are all being advertised in this forum more frequently. Probably these people are using bots for some tasks but not at all for making decisions on buying and selling.

We cannot be sure about making profits for all the times by using bots but I have some traders are using bots time to time along with their usual trading and they are able to manage into crypto trading for last 2 to 3 years.

I believe combination of usual manual trading along with bots might be giving good results. But, there will be no clear idea about how to combine these two types of trading. But I'm sure, making use of bots for some routine task will save a lot of time for traders which can be used for other purposes like researching and analyzing market conditions.

Otherwise, enabling bots to generate calls and then going for analyzing only those call will be more effective for traders instead of searching all the coins and market condition to find out their preferred calls.

[akihikohideaki]

Sorry I'm not using a traider robot because I think the choice of manual trading is better.
Because in some cases the use of trading robots does not have senses and feelings that can be optimized like humans. Although sometimes a traider robot can be profitable

[deandree]

senses and feelings

Every trading psychology book ever written states that feelings are the worst disadvantage that human has in context of markets ...

[ranman09]

I don't think there is some bot out there who can make sure a probability. You can check it's probability only depending on how it's results are doing. Which is a bad thing, that is why I don't use bots.. Plus the fact that it is controlled or created by someone.