Does using trading Bots is more profitable than conventional trading?

[Wexnident]

Bots don't really trade for you, more like they just make your life easier. It's still basically you trading, but it's more automated, more reliant on automatic response that you've programmed, and less reliant on your instantaneous judgments. It's like if you ask 5 programmers to program an AI, they could basically have 5 different types of program that do the same thing, just that the difference is the process of how to achieve that end. That's how bots basically work.

Well, thank you for all the replies guys...

Maybe I was wrong overly thinking that using bots could help me to become profitable as it works for more time than I usually do. Yeah, I have knowledge of trading but using trading bots maybe it have different results, that is why I want to find it which one is best.

There isn't really the best bot out there since you're technically still the one managing how it performs, but the more able the bot is to respond to your commands, the better the type of bot it is. Bots in a sense are still you, just automated, so it doesn't really make trading easier or profitable. Think of it like leaving your trading schemes to someone else that has the same brain and ideas but has less emotions.

[1715081324]

1715081324

[Bitstar_coin]

Shouldn't you rather trade at your convenient time rather than using a bot to trade? I mean what guarantee do you have that trading with a bot can bring you more profit! and this made me thinking to ask....... do trading bot sometimes incure lose like a person trading by him/her self? (I have never use one before so am curious to know)  If they are always giving profit, then i would say go for it, the goal as a trader is to gain profit at the end of the trade, whether doing it yourself or using a bot to do it.

[bitgoldpanther1978]

Instead of using trading bots, I would rather to apply day trade. Because on day trading it's an organic way to obtain profit in the every platform exchange we are going to use in. And as far as I know trading bot is too risky on my own little way to say it. Therefore, trading bots is not profitable to me.

[maydna]

I don't think that if you use trading bots can help you make a profit because you know that the market still not stable, and it always fluctuates every day. You always need to adjust the setting to follow the market so the bot can work properly. You don't have to use the bot, but you can trade manually in your free time, which will give you more time to analyze it.

If an AI robot invented, and the AI bot can think by itself to set the strategy to trade, perhaps, that can help you make a profit. Unfortunately, I don't know if that type of bot is invented now.

[mk4]

In the end, everyone trades differently though, so results will also obviously be different. Probably try it out instead, then decide if using bots is the right choice or not.

That is why I am looking for something worthy to try and so my money won't just be wasted. Because there are a number of trading bots available in the market today and I can't afford to try them all rather than to get one at least so I can make a try immediately.

If you're referring to those trading bots that does everything for you without your input, then the probability of you succeeding in the end is quite slim. As for open-source trading bots that you configure yourself, then you're definitely going to get mixed responses depending on the traders' skill.

[rodskee]

If they are always giving profit, then i would say go for it, the goal as a trader is to gain profit at the end of the trade, whether doing it yourself or using a bot to do it.

There's no argument from this statements, the sole purpose is to gain
from your trading experienced.
Both traditional and with bot as long as you are converting and you are
satisfied then you are good to go.




In some point, there's still traders who are more comfortable using conventional
ways of trading, knowing that
they can convert more by monitoring the market and adjust each  time there's an
open chances to earn.

[sheenshane]

I answered you, yes but the fact this is a case to case basis and it will depend on us as a trader. This trading boot might be profitable but remember they are just a tool that won't function without you as a trader(proper setting the bot to execute your trading activity). You cant rely upon this all the time, besides, there's a disadvantage that probably your trading activity will end up messing our trading activity and wipe out our capital, so you need to be careful while using this.

I don't suggest any of the trading bots but I will leave you a good characteristic upon picking a good one.

• Security
• Reliability
• Profitability
• Transparency
• Ease of use

Source

[Latviand]

It depends on many different aspects. Using bots is really effective if you know how to use it and find out a strong bot. There are many stupid bots which can cause you to lose a huge amount of money.

I don't really trust those bots for a long-term trading, in short-term trading, it is somehow useful but I don't see myself relying on that platform. It doesn't matter if it is a strong bot, high quality trading bot or something, I just want to learn manual trading with myself only, and improve in every transaction that I make.

The only thing in trading bot is that, there are some features that are automated compared to manual trading.

Trading in traditional ways is not always bad. If you can control your emotions and understand your money management, you will definitely be rewarded.

In trading manually, you will have full control with your assets and strategies. You can also do technical analysis with yourself based on the market and that's more precise and effective. You are your own enemy, that's why you should know how to manage yourself.

Bot is good especially if you want to keep emotions away from your trading but it lose money more than a conventional ways of trading. I learned trading in the conventional way and since then I have not really lose money compare to when I was using bot.

Most of the people here are saying that using bot can make your trading worse, which is true based on other people's experience that I heard.

[reliable]

Trading bots can never be more profitable than conventional trading bots often put you in danger that's why I prefer to trade by doing marketing research myself This increases both the knowledge experience. nobody can say which way the market will ever go The crypto market isn't as stable as Fiat's the worth of currencies fluctuates If the bots don't understand the ups and downs of the market then the loss is bigger The market is usually updated so you've got to stay up with the technology.

Price fluctuations is too much at times and this does not suite doing a bot trading. As well doing by our self will help you do the right trade when you feel like entering or exiting the market. Skills and knowledge might not replace which we possess when compared to BOT.

[pawanjain]

I have a stable job and because of my limited time to spend in trading, it gives me a reason to look other options to continue my trade and it looks like trading bots is something to try especially during the pandemic situation. I'm not sure many people are looking at this but probably they are also asking about it.

"The evolution of automated machines is already performing many tasks that are done by humans in the past. With advancements in robotics and automation, the impact of the changes spans from every aspect of life and businesses to the future of jobs. In recent years, these technologies have taken a major leap in the trading business, and in the wake of COVID-19, they have escalated than ever before. This is now expected that robots and machines could have a major impact on the trading business and could eliminate conventional human-to-human voice trading fast."

source: https://industrywired.com/will-the-rise-of-robots-alter-the-conventional-trading-in-the-post-pandemic-period/

Well, it seems interesting to try and I hope this could help and see a positive result to the outcomes of my future transfer.
But I would like to ask everyone who already experiences in using trading bots and how this becomes effective in trading and boost our profit gains than stayed in a conventional trading system?

Any recommendation...

Trading bots do help a little but it does not mean that once you start the trading bot then all your work is done.
If you are starting a trading bot then it does make your trades automatically but then you do have to keep an eye on it and confirm that your trades are being carried out effectively. Besides that sometimes you also have to change your strategy and hence tweak the bot.
It does give you profits but only if your strategy is well planned. So until your strategy is right you will generate the profits.

[taufik123]

The use of trading bots will certainly greatly help traders to trade automatically if it is very necessary and in circumstances that do not allow for manual trading. A good trading bot depends on the configuration applied by the developer on the bot. because some trading bot software has a limited scope for personalization.

It's important to choose a good Trading Bot that is free of coding errors and the Bot is always updated by the developer.

Manual trading has full control compared to using bots. Trading bots are just an alternative to help trading with a number of custom configurations that have been done before. Based on the benefits, using a bot will not be maximized without the supervision of the user. Conventional trading seems to be more controlled and profits can be maximized. If the two are combined, it will provide comfort in trading.

[CarnagexD]

Whenever I do trading, I always do conventional trading and I found it much effective for me as I have a complete control of my assets and plans.

I just improve my good decision making skills so that I can minimize my losses and prevent mistakes. In using trading bot, you will not grow as a trader if you keep on relying on using that. It will not give you the amount of profit that you desire because your bot will not adjust depending on the market situation. In conventional trading, you are flexible and you can do the strategies that you think are much effective.

It also prevent you to have brokerage bias that can also benefit them while you trade. I don't settle in using trading bots, and I don't see them as a tool for learning how trading really works.

[AniviaBtc]

Using trading bots is profitable also but not that profitable compared to manual trading.

Let's be honest here, some of the people in this forum also uses trading bots when they are busy or they have an important thing to do.

By that, they can still earn small profits depending on the market. But if you are confident about your trading skills and you want to improve more and become effective, always use conventional trading because it will make you do what you want to do in trading. Your strategies, plans, skills, and timing is all you when you do technical analysis in the market properly. In manual trading, profits are really huge compared to using trading bots because you have your goal and desired amount of profits that you want to earn.

[Beparanf]

Shouldn't you rather trade at your convenient time rather than using a bot to trade? I mean what guarantee do you have that trading with a bot can bring you more profit! and this made me thinking to ask....... do trading bot sometimes incure lose like a person trading by him/her self? (I have never use one before so am curious to know)  If they are always giving profit, then i would say go for it, the goal as a trader is to gain profit at the end of the trade, whether doing it yourself or using a bot to do it.

Those whosw fund were alloted for trading alone and set in their mind that it can win or lose will choose bot as it can trade anytime they wanted by just setting limits, however in conventional way if we have budget that we need and only few money left, we take trading to seriously that we need to be focus, to adjust every now and then what will fit for profit, what makes wrong in our previous trade and find ways to learn more to improve our portfolio. But both can do in our prepared means. I do trading bot sometimes but more of conventional one.

[CryptopreneurBrainboss]

Over the years I believe trading bots have been improved on and this days not only do they execute your trade command but they can also make trade for you based on the market condition. I haven't traded with cryptocurrency bot but in the forex Market, I have patronize bots that make decisions for me which was profitable although that doesn't mean, there wasn't some instances when they predicted wrongly.

Why I'm not fully in support of bots although they make your trading experience more easily, is because of the disadvantages associate with using them but just to answer your question, you're better off trading yourself then relying on but as they can't be more profitable then you trading yourself. Bots can't give you the experience real trading does.

[Mahanton]

Over the years I believe trading bots have been improved on and this days not only do they execute your trade command but they can also make trade for you based on the market condition. I haven't traded with cryptocurrency bot but in the forex Market, I have patronize bots that make decisions for me which was profitable although that doesn't mean, there wasn't some instances when they predicted wrongly.

Why I'm not fully in support of bots although they make your trading experience more easily, is because of the disadvantages associate with using them but just to answer your question, you're better off trading yourself then relying on but as they can't be more profitable then you trading yourself. Bots can't give you the experience real trading does.

There  are already pre-setup bots that can be used directly when you do trade and also i dont really believe such thing that they would do make adjustments basing up on market condition unless if you do set it up but in talks of adaptability? they dont have such feature  yet trader would really need to set it up according to his likes on how the bot should execute on instances that he faced of. Manual trading is always been the best
but using up bots for automation isnt something bad, the thing here is that you dont rely too much on it because it is really just for an automation and its better to trade on your own  so that you would able to
sharpen up your trading skills and gain more experience towards the market.

[el kaka22]

Depends on the bot and depends on the trader. If a trader has a bit of knowledge on the technical side of things and the bot is made to make some profits, I am sure that person could use that bot to make some money, I have seen plenty of people that used bots and made a ton of profit but I have seen even more people who used bots and didn't really knew how it worked and lost a shit ton of money as well.

Regular trading is safer, you do not really end up selling right away for a loss suddenly and cause yourself 20% loss in a single second because of an error, you are a human and you wait, you try to make it work and you try to make a profit from it, at worse you are at least not malfunctioning. So conventional is safer, but when you profit well bots are much better.

[gabbie2010]

I prefers convectional or manual type of trading Bot do fails at times thus it has it own limitation I don't see it as a reliable automatic form of trading, why not trade using Daily time frame as your minimum timeframe for trading? with this time frame your analysis wouldn't require spending much time in taking a trading decision while doing your daily job, price Action with a daily timeframe is a bit more stable devoid of the usual and regular noises associated with the lower time frame due to their high volatility and momentum, personally my minimum time frame for trading is 4 hour time frame which is a bit more stable.

[bhadz]

The same thoughts as everyone say it all depends in your hands. I like to trade on my own and never have thought of using a trading bot. Trading bots help you to save time and if you think that you need one, test it and see if you are compatible using it. But if not, you can always go back to traditional way of trading whichever works for you at its best.

[MCobian]

I am among those who recommend conventional trading more than using trading bots, because after all the human brain is smarter
from any bots. And many people misunderstand related to trading bots, expecting passive income by relying on trading bots is big failure.
Don't let you feel what I have experienced, experience big loss by using trading bots. Especially for beginners, it is not recommended
using trading bots.