Profitability of Trading Bots

[ufaiz50]

I am curious if people have had success with trading bots in cryptocurrency.

I have recently set up a bot and have been astounded by the operability of it. It's actually working lol.
Well, if you have also had luck or interesting experiences with trading bots let me know =]. Cheers

Bots only help you in doing trading, this all depends on your analysis and luck too. Many people are wrong that bots can always bring profit. Experience when using bots trading is easier than we have to see too often in the crypto market and of course the settings of bots must really be in accordance with our analysis.

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[KnightElite]

I am curious if people have had success with trading bots in cryptocurrency.

I have recently set up a bot and have been astounded by the operability of it. It's actually working lol.
Well, if you have also had luck or interesting experiences with trading bots let me know =]. Cheers

Bots only help you in doing trading, this all depends on your analysis and luck too. Many people are wrong that bots can always bring profit. Experience when using bots trading is easier than we have to see too often in the crypto market and of course the settings of bots must really be in accordance with our analysis.

It is too low for me and that is why I do no use trading bots. Trading bots are for the people who doesn't enough time to focus in trading. I have a lot time so I do not have any idea to use trading bots. Trading bots are also base on luck so there is no guarantee that your money will grow from it. I prefer to use my own decision in trading than in trading bots because I trust more my analysis than the analysis of trading bots.

[beerlover]

Basically everyone agrees that bots are not here to make you money, not if you don't know how to do it. Bots are here to do something you normally would do but help you do it automatically. You know how to make a profit from trading?

Great you can either do it manually or tell your bot to do it for you when you are sleeping, it is not a cash printing program, if it was like that you would have seen multiple super rich people in the world all thanks to bots but the only people who become rich thanks to bots are the creators of the bots that sell these software. So, if you do not trust yourself manually, don't go and buy a bot, it only works if you know what you are doing and you want the program to do the same thing you do but do it automatically while you are not on your PC.

[pajak666]

Basically everyone agrees that bots are not here to make you money, not if you don't know how to do it. Bots are here to do something you normally would do but help you do it automatically. You know how to make a profit from trading?

Great you can either do it manually or tell your bot to do it for you when you are sleeping, it is not a cash printing program, if it was like that you would have seen multiple super rich people in the world all thanks to bots but the only people who become rich thanks to bots are the creators of the bots that sell these software. So, if you do not trust yourself manually, don't go and buy a bot, it only works if you know what you are doing and you want the program to do the same thing you do but do it automatically while you are not on your PC.

Yea this basically sums it up. Close please. ;P
But seriously that's all there is to this topic. If you are a profitable trader then a bot will make you money. If you are not, then it'd be better to spend time/money on learning process not software.

[doomistake]

The profitability of trading bots simply differ from bot to bot, as they have their own indicators and stuff. And yes, trading bots can definitely be very profitable, assuming that the user of the trading bot knows what he's doing in the first place, by tinkering it and making it better as time goes.

I have recently set up a bot and have been astounded by the operability of it. It's actually working lol.

If the bot you set up is currently doing really well, great. Good job. But don't assume that it will work great forever. This is a common mistake with trading in general, that could potentially end up burning the trader. Just a heads up.

This is absolutely correct.

Bots have different roles in the trading industry, it could be use on automatically picking the right choice to make to trade, or you could manually put what you wanted to trade and the bot will do it overnight if you wanted a sleep, basically just that. However, just like what you have said, we have to know how to take advantage of it and not just randomly use it believing that it could give you profits without the user making the first move, unless he have the automatic trading bot that do all the works.

But don't assume that it will work great forever.

I agree.

[drachman]

But becareful when using bots because the are some fake ,which is the real intention is to hack users private information such those that have curiosity about the real bot advantages. So be aware because nowadays in just one mistake it can cause massive losses.

This something that I have not really considered but it is true, in order for a bot to trade you will need to give it access to your account and if for some reason you bought a bot from an unknown source then there is a very high chance that you're going to get hacked and instead of getting money you're going to lose it and that is never a good thing, this most likely will happen to newbies and not to experimented users because newbies are the ones that think that bots are just a magical way of making money and that is not true.

[algoSurfer454]

My first freqtrade bot algorithm was a simple RSI/bollingerbands price watching for a price to below the lower band(trade against the market BAD strategy), and wait for a 6% gain.  it was making money in a rising market, but it could have made more buying and holding.  It's main weakness was that a price many times will continue to drop after it has gone below the lower band, so the bot was left with a lot a few coins.  My new algorithm is attempting to trade with the market, and we will see how it goes with the coming pump and mild drop.


Wishing everyone a profitable future

[arimamib]

But becareful when using bots because the are some fake ,which is the real intention is to hack users private information such those that have curiosity about the real bot advantages. So be aware because nowadays in just one mistake it can cause massive losses.

This something that I have not really considered but it is true, in order for a bot to trade you will need to give it access to your account and if for some reason you bought a bot from an unknown source then there is a very high chance that you're going to get hacked and instead of getting money you're going to lose it and that is never a good thing, this most likely will happen to newbies and not to experimented users because newbies are the ones that think that bots are just a magical way of making money and that is not true.

indeed it would be better to trade in the traditional way and rely on the capabilities it possesses rather than having to find ways to make it easier but at high risk. it is not recommended to use trading bots, because the price flow of crypto will not always be the same and need a complicated algorithm for the bot.

[spike420211]

I have participated in many similar bot related programs. As a rule, all these bots had certain positive statistics at least in the monthly period.
Each time I was convinced that the bot was configured based on the mistakes of previous similar bots, everything was taken into account in it, which means it will inevitably be profitable.
The most interesting cases were with bots whose algorithms were used to analyze all the dynamics of the market for all time.

Some of them showed stable and good profits on the basis of past events. I think you yourself understand that the authors of these bots assured them of their efficiency, and they themselves believed in it.
But in the end, I met the same story everywhere. The bot worked for several months, bringing its investors income from 1% to 10% per day.
But one day, investors went to their personal dashboards from where to monitor the work of the bot and were horrified because the bot lost everything.

The creators explained everything by speculation and manipulation in the market. But everything is obvious to me. Such bots can only trade in the environment that they have studied and calculated.
They are not able to take into account new data that introduce the human factor into the equation, so ordinary bots are not able to cope with such a difficult task as crypto trading.
In any case, in the long term, I have not seen such bots. But artificial intelligence can quite solve this problem.

[posi]

I have participated in many similar bot related programs. As a rule, all these bots had certain positive statistics at least in the monthly period.
Each time I was convinced that the bot was configured based on the mistakes of previous similar bots, everything was taken into account in it, which means it will inevitably be profitable.
The most interesting cases were with bots whose algorithms were used to analyze all the dynamics of the market for all time.

Some of them showed stable and good profits on the basis of past events. I think you yourself understand that the authors of these bots assured them of their efficiency, and they themselves believed in it.
But in the end, I met the same story everywhere. The bot worked for several months, bringing its investors income from 1% to 10% per day.
But one day, investors went to their personal dashboards from where to monitor the work of the bot and were horrified because the bot lost everything.

The creators explained everything by speculation and manipulation in the market. But everything is obvious to me. Such bots can only trade in the environment that they have studied and calculated.
They are not able to take into account new data that introduce the human factor into the equation, so ordinary bots are not able to cope with such a difficult task as crypto trading.
In any case, in the long term, I have not seen such bots. But artificial intelligence can quite solve this problem.

Thank you for pointing out this situations which i believed will make newbies traders that only thought bot trading are the most exciting and ease way of making point in crypto trading realms while there's more to it in terms of managing the bot and doing some total cross checking on the market activities. But i believe market price alert are way better than bot if the trader can control his emotion when trading.

[spike420211]

I have participated in many similar bot related programs. As a rule, all these bots had certain positive statistics at least in the monthly period.
Each time I was convinced that the bot was configured based on the mistakes of previous similar bots, everything was taken into account in it, which means it will inevitably be profitable.
The most interesting cases were with bots whose algorithms were used to analyze all the dynamics of the market for all time.

Some of them showed stable and good profits on the basis of past events. I think you yourself understand that the authors of these bots assured them of their efficiency, and they themselves believed in it.
But in the end, I met the same story everywhere. The bot worked for several months, bringing its investors income from 1% to 10% per day.
But one day, investors went to their personal dashboards from where to monitor the work of the bot and were horrified because the bot lost everything.

The creators explained everything by speculation and manipulation in the market. But everything is obvious to me. Such bots can only trade in the environment that they have studied and calculated.
They are not able to take into account new data that introduce the human factor into the equation, so ordinary bots are not able to cope with such a difficult task as crypto trading.
In any case, in the long term, I have not seen such bots. But artificial intelligence can quite solve this problem.

Thank you for pointing out this situations which i believed will make newbies traders that only thought bot trading are the most exciting and ease way of making point in crypto trading realms while there's more to it in terms of managing the bot and doing some total cross checking on the market activities. But i believe market price alert are way better than bot if the trader can control his emotion when trading.

In general, you are right. However, one assumption needs to be added, if we are talking about trading with bots, then the most effective ones will make profit on scalping,
that is, until the surgical accuracy of predicting where the price will go at a particular short-term moment in time, making money, we take into account its fluctuations in both sides.
In this case, the bots should, with proper configuration and human control, perform everything correctly following a certain analysis, then there is every chance of a more or less stable profit from such bots.

But I'm sure that if such bots exist, and they most likely exist, no one will sell such a bot in the public domain.
Why even sell it if it makes a profit? This question should be asked to everyone who decided to use paid bot services.
In other trading processes, I would suggest relying on my own head and turning off emotions.

[milewilda]

I have participated in many similar bot related programs. As a rule, all these bots had certain positive statistics at least in the monthly period.
Each time I was convinced that the bot was configured based on the mistakes of previous similar bots, everything was taken into account in it, which means it will inevitably be profitable.
The most interesting cases were with bots whose algorithms were used to analyze all the dynamics of the market for all time.

Some of them showed stable and good profits on the basis of past events. I think you yourself understand that the authors of these bots assured them of their efficiency, and they themselves believed in it.
But in the end, I met the same story everywhere. The bot worked for several months, bringing its investors income from 1% to 10% per day.
But one day, investors went to their personal dashboards from where to monitor the work of the bot and were horrified because the bot lost everything.

The creators explained everything by speculation and manipulation in the market. But everything is obvious to me. Such bots can only trade in the environment that they have studied and calculated.
They are not able to take into account new data that introduce the human factor into the equation, so ordinary bots are not able to cope with such a difficult task as crypto trading.
In any case, in the long term, I have not seen such bots. But artificial intelligence can quite solve this problem.

Thank you for pointing out this situations which i believed will make newbies traders that only thought bot trading are the most exciting and ease way of making point in crypto trading realms while there's more to it in terms of managing the bot and doing some total cross checking on the market activities. But i believe market price alert are way better than bot if the trader can control his emotion when trading.

In general, you are right. However, one assumption needs to be added, if we are talking about trading with bots, then the most effective ones will make profit on scalping,
that is, until the surgical accuracy of predicting where the price will go at a particular short-term moment in time, making money, we take into account its fluctuations in both sides.
In this case, the bots should, with proper configuration and human control, perform everything correctly following a certain analysis, then there is every chance of a more or less stable profit from such bots.

But I'm sure that if such bots exist, and they most likely exist, no one will sell such a bot in the public domain.
Why even sell it if it makes a profit? This question should be asked to everyone who decided to use paid bot services.
In other trading processes, I would suggest relying on my own head and turning off emotions.

Bots do work and does depend on how they've been set up by the user itself.Theres no such bot that do work without having user intervention.

Profitability will surely vary on how traders do consider on which kind of trading would they engage.I agree on the fact that scaling is way more better
when using up bots.

Set up some tp and sl on small margins and i have tried this one and i can say that its profitable but most of the time, high volatility will mess you up.