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Author Topic: What is your take on crypto robots?  (Read 157 times)
clover12
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February 15, 2019, 04:48:54 PM
 #1

I saw a topic the other for mycryptorobot, and now can not seem to find it using the search engine.
 
How can you use robots to trade for you?  I'd be interested to hear more.
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February 15, 2019, 05:01:32 PM
 #2

Trading bots(the legitimate ones, not those "pay .1btc and earn x every week"), are used by trades basically just to automate some things. You sort of input your trading formulas/indicators/etc, and the bot just does it for you instead of you putting up offers on the exchange manually.

If you think trading bots is something you can turn on and simply make easy no-effort money for you, then no. Traders update their bots all the time for optimal outcomes.

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February 15, 2019, 05:12:09 PM
 #3

AFAIK bots in trading are mainly created to do arbitrage trading within the exchange (between different pairs) or between different exchange but bot can be created for any trade you want to execute that can be written as a program.

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February 15, 2019, 05:17:06 PM
 #4

I saw a topic the other for mycryptorobot, and now can not seem to find it using the search engine.
 
How can you use robots to trade for you?  I'd be interested to hear more.

You mean an automated bot that will do the trading activity for you?

Honestly it has advantage since obviously, it will do the work for you providing what will be your command. The downside, you can't monitor it closely or you might have some regret for executing those (which is usual. what matter here is you are positioning yourself in a safe spot rather than to be aggressive).

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February 15, 2019, 07:02:02 PM
 #5

I had read a topic about mycryptorobot, and it sounded like something I would like to read about again, but using the search engine here I get no results back.
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February 15, 2019, 08:39:00 PM
 #6

These days in cryptocurrency is hard to differentiate the real trading bot from fake ones so I try to avoid scam especially those bot that are hyped by the so called Twitter crypto experts by not involving myself in any form of bot trading and trade by myself. Not that active in trading so this isn't affecting me that much. My take on it is, no matter how legitimate it may seem I don't fancy the idea so I stay away from them.

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February 16, 2019, 02:11:20 AM
Merited by DdmrDdmr (1)
 #7

I had read a topic about mycryptorobot, and it sounded like something I would like to read about again, but using the search engine here I get no results back.

Yeap. Couldn't find mycryptorobot either. Mind linking the thread you're referring to instead?

Just a tip: If the bot service is claiming to earn you a guarantee of x% of money every day/week/month, then it's a scam. This type of scams are very very common, mostly trying to masquerade as trading bots, cloud mining, and bitcoin "doublers".

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February 16, 2019, 05:59:57 AM
 #8

I tried to find this robot that you're talking about, and I can only find this empty GitHub repo[1]. The readme file only includes a single sentence, "this is a readme file". So I'm not sure when or where did you hear about it, even the website (mycryptorobot.com, not sure if this is the one though) is dead. If I were you, I'd just forget this bot.

[1] https://github.com/TEPOTPOH/mycryptorobot

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February 16, 2019, 06:09:48 AM
 #9

If you're under the illusion that trading bots makes it safe for you to trade,with somewhat large percent of possible success,then think again,all this bots does into make trading less stressful by inputing all your strategies in them an allowing them trade for you using the inputs you fed them with.
It's as risky as trading yourself,even more risky except of course if stop loss is implemented,its always advisable to trade yourself,as most bots are scam and illicit
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February 16, 2019, 07:13:33 AM
 #10

I don’t trust bots...only those I build myself. Made my own trading bot for Bittrex I use to do trades in.

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February 16, 2019, 11:42:09 AM
 #11

I saw a topic the other for mycryptorobot, and now can not seem to find it using the search engine.
 
How can you use robots to trade for you?  I'd be interested to hear more.

It's easy, get a bot set it up and then you're ready to trade.

But, you have to remember, its just a bot, everything will still rely to us, humans. The most difficult part is how to set up your bot so you won't lose without you knowing it. So its not that easy.

If you're starting your trading journey, I would suggest that you don't used bots, by try to learn everything manual at first. At least you have a better grasp on some technical, like setting stop-loss and other trading parameters. And then when you have that experience already, you can venture out and buy some bots to make life easier for you.

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February 17, 2019, 06:52:49 AM
 #12

I am more familiar with trading robot associated with the forex trading I have subscribed to one..
The robot is programmed with several knowledge of past trading you set a stop loss which when reached the robot closes trade and when the maximum gain is reached it also takes you out

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February 17, 2019, 11:50:19 AM
 #13

There is no easy money in trading even if you use a robot to automate the process because the robot cannot think about what if something goes wrong. Besides that, you need to learn the basic of using the bot and make sure it could work perfectly as you want. But in the bearish trend like today, I don't think you will find an easy way to make a profit comparing to do manual trading. But it's up to you, just be careful when finally you decide to use the bot.

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February 18, 2019, 07:37:03 AM
 #14

My take about trading bots is, avail it if you can and use it if you know how to use it. I don't personally use it and never used it even before.

I had read a topic about mycryptorobot, and it sounded like something I would like to read about again, but using the search engine here I get no results back.
Is this the bot that you have encountered? https://mycryptobot.io/

There are other popular bots in the forum like Leonardo, gunbot and CAT but I never used any of them. You can study more of them if your really want to try them out. It doesn't mean just because you purchased it, they will guarantee you sure profits.

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February 19, 2019, 01:52:39 AM
 #15

I saw a topic the other for mycryptorobot, and now can not seem to find it using the search engine.
 
How can you use robots to trade for you?  I'd be interested to hear more.
If you can not make it(BOT) yourself, then it is better not to use it If you buy a robot from someone, then he can hack any of your accounts, When you buy it, he will keep a script that will help you hack your account.

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