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Author Topic: Do crypto trading bots really generate profits?  (Read 2981 times)
scottii
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July 29, 2019, 05:16:16 PM
Merited by tk808 (1)
 #1

It really depends on how the traders are building strategies while trading. It depends on the taste of  trader whether they are technical traders or fundamental and according to my experience if a bot or tool says that they can outperform the market, you need to stay away from that. No one can outperform the market in the long term, and yes trading tools can help build strategies to make informed decisions. Recently one of my friends suggested a trading tool named SmartBotCoin.

I haven't used this tool and am not familiar with this so I researched and found the features on their website look good. But as a trader, my main focus is to maximize my trading portfolio so I usually like to be sure before using a product/service. Crypto is a once in a lifetime opportunity so I am very cautious before using any product/service that is related to trading/investments. Do you think it's worth trading on this tool?
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July 29, 2019, 06:51:58 PM
Merited by tk808 (2)
 #2

Trading bots are used to scalp profits on TONS of trades, and ads a ton of volume to whichever coin you decide to use it on.
The bigger exchanges has a LOT of wash trading due to this, and it wouldn't surprise me if we see these bots operating on DEX solutions in the future.

The biggest obstacle is the speed of DEX's that are currently running though, as you need to wait for confirmations if using Komodos Atomic DEX (Which uses atomic swaps).

Stakenet's Lightning DEX will run on lightning though, which makes it possible to trade instantly and with low fees. So honestly? Wouldn't surprise me to see trading bots using it to their advantage, lol.

You can make a lot of profits using trading bots, but typically, you need to pay a good sum of money for a decent one.
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July 29, 2019, 07:11:13 PM
 #3

As far as i have experienced they make profit in relatively slow or ranging market only during high volatility they make loss trades and in the end investor has to either switch it off or loose all his money, so personally im not a fan of bots.

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July 29, 2019, 07:27:35 PM
Merited by tk808 (1)
 #4

As far as I know, bots are used by exchanges to generate fake volumes. There's a fact that many trash exchanges have bigger volumes than Binance. This is done with the help of bots. In case of users using bots as you said, it probably generate profits but less likely ro be popular, because that bots mainly works on signals and signals are can be faked. 
Well, you are right but the bots you are talking about are a different kind of bots, they are there for creating liquidity. This one is different because it is there for you, and you only. In other words, you let the bot do the trading for you, and the bot AI does not act emotionally. I do not know about you, but I am distracted by my emotions and I tend to sell something if I panic. A trading bot does not do that. I registered and I am curious how the platform is going to perform, so I will be happy to hear other technical thoughts.

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July 29, 2019, 07:30:17 PM
 #5

Trading bots?

They are just tools to automate your trades which means you are still the one who would set it up and run it according into your command so it doesn't make
any difference compared on manual trades yet this do just automates.Most newbie mindsets do believe that these bots can give out profits on theirselves without doing something which is very wrong.

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July 29, 2019, 07:39:08 PM
 #6

As far as i have experienced they make profit in relatively slow or ranging market only during high volatility they make loss trades and in the end investor has to either switch it off or loose all his money, so personally im not a fan of bots.

I have used bot to trade once and I couldn't tell the story. Bot can only generate profit for one who kows how to use the bot well. For me it's a no no. What I don't understand is how the bots are used in some exchanges. It still baffles me.
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July 29, 2019, 09:06:06 PM
 #7

Bots are used by absolutely all traders.They work according to the specified parameters.They can be managed through the API.There are 2 types of bots:trading and arbitrage.Accordingly, the trading bot trades only on one exchange and arbitrage bot trading within several exchanges.There are simple bots that support several parameters and there are bots that can be configured in detail(respectively, to get the most profit).If You are new to crypto then you should not start your way as a trader with buying a bot.Initially, study the entire market and manually try to trade on any exchange and only then you can buy a bot.Otherwise,just following someone else's strategy (in any case, it will be someone else's strategy because of Your ignorance of the bot) You just lose your money.

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July 29, 2019, 09:59:02 PM
 #8

of course... trading bots really generate profits but trading bots alone won't be enough to give you a big profit, you also need short network ping, and accurate crypto signals, these three things complement each other and need each other, profit in trading is very easy if we know the recipe and trading bot is one of the recipes... movements of Bitcoin price are very fast, making many traders rely on trading bots when trading.


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July 29, 2019, 10:06:09 PM
 #9

Crypto trading bots have made milllions for other experinced crypto enthusiasts in their crypto trading activities. It can also do same for absolutely anyone but it depends mainly on how strategically the bot is set up to run. If it is properly geared up it can surely make you some huge profits.

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July 29, 2019, 10:09:58 PM
 #10

Do you think it's worth trading on this tool?

Like you said, a TOOL.

What does a certain tool do? To help people makes life easier. In trading, bots will do the work for you in terms of execution of your orders.

Even while you sleep, away from the desk, currently on other chores; it will follow your command. Therefore, a profit will still depend on how the markets behave.

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July 29, 2019, 10:20:37 PM
 #11

Yes i agreed i 'm still a newbie to crypto trading and cannot monitor the market 24/7 since i'm holding a day job so  smartbotcoin sound like a perfect tool for me .
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July 29, 2019, 10:26:49 PM
 #12

I trade manually and haven't used any single trading bot. But with those reviews that I've heard with some people about a certain bot, they are happy using automating their trades through their preferred bots.

The strategy on how you buy and sell by putting a limit will still depend on how good you are. Your profits determine those factors so asking the profitability and worth of that bot depends on how you use it.

                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                  
                                 
                                  
                                  
                                  
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July 29, 2019, 11:13:51 PM
Merited by tk808 (1)
 #13

I never use trading in my trade actually, because there is a lot of information that stated trading bot is scam you have to avoid it. Based on that I never use it and trt to avoid as long as I can, maybe because I'm not a day trader so I never focus to find more about trading strategy a some tolls which can make all my trade got profit.

In your case, it will be good if you try it first with the little amount. Never use a huge amount when you use other people tool to gain money. Most likely you will be scammed by them if you are not careful. For myself this forum has became a refference with what everything I do, I never use something if there is someone who got scammed from it and I'll use it if there is no someone who have a bad experience when use something.

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July 29, 2019, 11:40:16 PM
 #14

It is something usually used by several traders in order to help them when they are trading, for more effective time and trading activities. The trading bots are commonly designed with advanced technology, smart system, and also up-yo-date. However, personally, I never use it because it is commonly used by the big traders.
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July 29, 2019, 11:52:35 PM
 #15

If crypto bots can make us successful in trading then we can be a millionaire by now,so the reality of using the trading bots is to minimize our efforts but doesn't mean that it will make us 100% success on all trades.
Of course there's no such thing as guaranteed success here and not even in other markets. But regarding bots, I would definitely stay away from them, unless you are really that experts and you know what parameters are best suited to make profits overtime.

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July 29, 2019, 11:55:38 PM
 #16

It's worth to try and i will try to suggest you search the bitcointalk gunbot thread and there was a lot of testimony from the users and they have already submitted their own proof to and it's working perfectly when you know how to use it.































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July 30, 2019, 12:24:01 AM
 #17

It really depends on how the traders are building strategies while trading. It depends on the taste of  trader whether they are technical traders or fundamental and according to my experience if a bot or tool says that they can outperform the market, you need to stay away from that. No one can outperform the market in the long term, and yes trading tools can help build strategies to make informed decisions. Recently one of my friends suggested a trading tool named SmartBotCoin.

I haven't used this tool and am not familiar with this so I researched and found the features on their website look good. But as a trader, my main focus is to maximize my trading portfolio so I usually like to be sure before using a product/service. Crypto is a once in a lifetime opportunity so I am very cautious before using any product/service that is related to trading/investments. Do you think it's worth trading on this tool?

I don't know about the one you've mentioned but a real trading bot would be very helpful tool to a day traders. It's not that a trading bot is a money making machine as it still has to be manually set and decisions are to be made by the trader him/herself.
With the integration through API in different exchange, it facilitates the trading by finding the best price as executing it according to the rule set by the trader.

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July 30, 2019, 12:30:09 AM
 #18

It really depends on how the traders are building strategies while trading. It depends on the taste of  trader whether they are technical traders or fundamental and according to my experience if a bot or tool says that they can outperform the market, you need to stay away from that. No one can outperform the market in the long term, and yes trading tools can help build strategies to make informed decisions. Recently one of my friends suggested a trading tool named SmartBotCoin.

I haven't used this tool and am not familiar with this so I researched and found the features on their website look good. But as a trader, my main focus is to maximize my trading portfolio so I usually like to be sure before using a product/service. Crypto is a once in a lifetime opportunity so I am very cautious before using any product/service that is related to trading/investments. Do you think it's worth trading on this tool?

I think trading bots will not help much in our trading. This has happened in many markets such as forex and others. Trading bots only apply to markets that move sideways and cannot read sharp price movements

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July 30, 2019, 03:02:19 AM
 #19

I am not believe that we are having a good income because all we know that using digital device specially in trading activity is not accurate. I think it is more advisable to do it o n your self and have your own strategy to earn good in trading business.  For me I will choose the old style of trading because I'm already comfortable with this.

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July 30, 2019, 03:18:54 AM
 #20

I don't know but it seems the bot does very well to invite traders to join. For me as a trader, I would not trade money without a number of transactions, although as bots, but the number of transactions is high, which makes the currency valuable.

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