Binance trading bots are garbage

[tvplus006]

He said it was a garbage because he might lost big time or significant amounts and blaming all of this in a bot without even realizing that the market itself is the main culprit
on why he had lost.Also a certain user should really have a knowledge on how to alter things up not just simply use up already set up without even knowing on what kind of bot
is that, yet you can check it out when it comes to its commands on how it should move on a specific period of market situation.
Also, he might be expecting that bots can give out guaranteed profits?  

I tell you, some people are really so lazy to an extent that if it were possible, they would prefer getting driven up to where the toilet seat is.  
I mean, where's the harm in trying to learn and figuring out how the market works and what you can do about it to make some profits without 100% relying on a certain bot?
That why they end up getting disappointed by the bot results.

Very often, the desire to use the bot arises from beginners who have not yet figured out how to trade and decided to shift the work to a trading bot. I have also previously used a trading bot and remained unsatisfied with its trading. But this was at a time when the price of cryptocurrency was constantly decreasing. It is possible that in a bull market, the trading bot would have made a profit for me.

[NotATether]

Edit: i dont know if these bots are from Binance themselves orjust  sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

How you know that Binance or other exchange sites don't use any trading bots? How about the fake trading volume every day on their sites? Have you ever seen completed orders that are less than the limit set on an exchange?

I meant my post to be interpreted as "Binance doesn't develop trading bots that it gives or sells to its users."

[Assface16678]

I never tried the use of the trading bot because I don't want to what is the reason why you need to have a trading bot if you can make a trade on your own?. Because you're tired and earn easily without doing anything? I don't think so this is a good idea but for me, it's better to trade on your own because there is a higher chance that you will lose a lot of money because of the algorithm inputted by the developer.


It looks like you creating this thread just to express your feelings about the loss you have with the use of that trading bot. It's better to learn on your own and be dependent.

The trading bot is not a good thing and used if you are just a beginner into the world is trading that's why many people getting lost their funds.

[carlisle1]

Edit: i dont know if these bots are from Binance themselves orjust  sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

How you know that Binance or other exchange sites don't use any trading bots? How about the fake trading volume every day on their sites? Have you ever seen completed orders that are less than the limit set on an exchange?

I meant my post to be interpreted as "Binance doesn't develop trading bots that it gives or sells to its users."

Much probably. If they does, what would be the scenarios inside their trading platforms if those bot are being distributed around and more traders
or all traders are using it.

Can't imagine how things will work that way, It's better for them to use their own algo and keep it.

In the sense of exchange using bot, we all notice that especially within small
exchange where manipulated market are ongoing.

[Ridwan Fauzi]

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance?

Trading bot is useful if you use scalping trading because it is just an AI, it is movement price will only depend on the technical analyst. But if there is an information come your trading bot will never be usefull.

I alwasy try to avoid using trading in my all day trading. I just afraid I will alwasy be subjected with this tool that only give a chance to gain money around 30%. Also, you will be wrong if all your entry depend on this tool because you'll be lose all your money.

[CaVO32]

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance?

Trading bot is useful if you use scalping trading because it is just an AI, it is movement price will only depend on the technical analyst. But if there is an information come your trading bot will never be usefull.

I alwasy try to avoid using trading in my all day trading. I just afraid I will alwasy be subjected with this tool that only give a chance to gain money around 30%. Also, you will be wrong if all your entry depend on this tool because you'll be lose all your money.

And I don't think Binance will agree that their trading bot is garbage. Or is there really trading bot exclusively owned by Binance? I don't think so. And it is up to the trader how he will fully utilize the capability of the bot. Also, the OP might be talking about 3rd party trading bot, because there are 3rd party cloud software platforms that you can use like in BNB, Bittrex and others.

And if the OP is not satisfied using the trading bot that he is using, just do the manual trading and see for yourself how far you can get by. Maybe you will have better results if you manually do your trading and not rely to a bot. If you are a beginner, it is better to do your own trading to understand what's happening in the crypto market. Crypto is bit complex to understand particularly those pump and dump coins or other coins that have no actual usage but relying on traders.

[vitorgamer58]

My friend have created a Trading Bot for Binance on telegram, the bot sends trading signals: https://t.me/coingurufree

[Shasha80]

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

[Salauddin1994]

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

I also agree with you that trading boats can never be a good medium for newcomers, newcomers will definitely make a mistake if they use trading boats but trading boats should be used only if you have some doubts. Otherwise, if you only trade for profit you are much more likely to lose which you may later blame yourself for.

[South Park]

Your title is also Garbage
Are Binance the once that create the trading bots?
Do trading bots work only on Binance?

Why are you even using trading bots in the first place?
You could as well spare sometime, learn the trading basics, experience trading and make some money instead of paying subscription for some bot to do it for you.

Im on phone. So i cba answering everyone.
But no. Im not losing, quite the opposite.
Im not using any bots myself.
Just turned 100$ into 400$ through futures in less than 1 day, trying to follow up on a theory regarding the bot algorythm.
They clearly only play by a mathematical pattern with a few variables and parameters, and nothing else it seems. (I know the owners change these factors from time to time, to not get caught up in their strategy)

Edit: i dont know if these bots are from Binance themselves orjust  sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Well if that is the case and you're not using those bots yourself and are only using them to try to learn how to trade then you need to understand that for the most part bots are never going to be as good as people when it comes to trading the markets and if you are able to obtain profits on your own then for the most part you do not need to use a bot, but if in the future you feel the need to use a bot in order to automate some of your trades then it is a better idea that you could your own bot.

[milewilda]

Your title is also Garbage
Are Binance the once that create the trading bots?
Do trading bots work only on Binance?

Why are you even using trading bots in the first place?
You could as well spare sometime, learn the trading basics, experience trading and make some money instead of paying subscription for some bot to do it for you.

Im on phone. So i cba answering everyone.
But no. Im not losing, quite the opposite.
Im not using any bots myself.
Just turned 100$ into 400$ through futures in less than 1 day, trying to follow up on a theory regarding the bot algorythm.
They clearly only play by a mathematical pattern with a few variables and parameters, and nothing else it seems. (I know the owners change these factors from time to time, to not get caught up in their strategy)

Edit: i dont know if these bots are from Binance themselves orjust  sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Well if that is the case and you're not using those bots yourself and are only using them to try to learn how to trade then you need to understand that for the most part bots are never going to be as good as people when it comes to trading the markets and if you are able to obtain profits on your own then for the most part you do not need to use a bot, but if in the future you feel the need to use a bot in order to automate some of your trades then it is a better idea that you could your own bot.

Bots are just indeed for automation of trades but people do always have that belief or perception that these things can make out money for them without even realizing that these are just tools
and do needs to be set by the trader itself.Most are already set-up but for users that dont have knowledge would really be having that question mark on his mind on how the hell these bots do work.
When you do have knowledge then you can simply alter those settings and change it up according to your likes if you do saw that theres something happening in the market where you do change
up on how bots work on a specific situation.Bots are garbage if you dont know on how to use or utilize it.

[Kelvinid]

snip~

Bots are just indeed for automation of trades but people do always have that belief or perception that these things can make out money for them without even realizing that these are just tools
and do needs to be set by the trader itself.Most are already set-up but for users that dont have knowledge would really be having that question mark on his mind on how the hell these bots do work.
When you do have knowledge then you can simply alter those settings and change it up according to your likes if you do saw that theres something happening in the market where you do change
up on how bots work on a specific situation.Bots are garbage if you dont know on how to use or utilize it.

I was on that thinking before and I find it wrong. It can't be that bots or any trading will make you profitable in trading but it's YOU who did it. It is something we need to understand and for those whose coming to become a trader. We didn't just rely on this thing coz we are just to fail if that so.
@OP, It wasn't the bots you have a need to complain but first, consider yourself out of it. Some bots did it right but it was wrongly used by its users then the result will be opposite, this is probably what it happens to you. You better check it.

[spike420211]

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

In your opinion, people who do not use trading bots, but know about their effectiveness from others, cannot consider them garbage? I have not yet met a person on the forum who would openly talk about the effectiveness of a bot, which in turn would in fact be effective over a long distance. It is not necessary to suffer losses in order to have an opinion about bots, it is enough to look at their statistics for at least half a year.

[whyrqa]

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

In your opinion, people who do not use trading bots, but know about their effectiveness from others, cannot consider them garbage? I have not yet met a person on the forum who would openly talk about the effectiveness of a bot, which in turn would in fact be effective over a long distance. It is not necessary to suffer losses in order to have an opinion about bots, it is enough to look at their statistics for at least half a year.

There are certain people who are trying to convince me of the opposite, explaining the effectiveness of a trading bot by the fact that the program performs any analysis much faster and better than an ordinary trader. But for some reason I always remember negative reviews about trading bots on the forum. That is why I have never used a trading bot personally, but since the Binance trading exchange is one of the best, the question of the quality of a trading bot is really relevant.

[Xinarae*]

I think so binance trading bot garbage when you going some wrong step properly or mistake analysis fundamental and technical analysis, Trading can be a source of frustration for you if you can't manage trading in court or come up with potential ideas. binance trading bot is important to learn to manage the bot before using binance trading bot.

[AniviaBtc]

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

[Quidat]

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Its not really that not profitable because all things will vary on the market movement.There are already bots which had been modified for a specific market condition and its been set up
by traders or its creators itself which basically means that it is an automation of trades in behalf of you.People do always had that misconception towards bot which isnt really true.
You can say its garbage if you do expect on it too much on where it can make money which is really wrong and you will surely realize that in the end when you do see
that nothing do works on what you had expected.Better to trade manually rather than heavily relying into these bots.

[South Park]

I was on that thinking before and I find it wrong. It can't be that bots or any trading will make you profitable in trading but it's YOU who did it. It is something we need to understand and for those whose coming to become a trader. We didn't just rely on this thing coz we are just to fail if that so.
@OP, It wasn't the bots you have a need to complain but first, consider yourself out of it. Some bots did it right but it was wrongly used by its users then the result will be opposite, this is probably what it happens to you. You better check it.

Exactly, bots do not generate profits on their own what they do is to follow the strategy you have coded in them and follow it in a perfect way without deviating from it, if you did a good job with the bot then you get profits if you did not then you lose money, and as long there was no bug or mistake in the code of your bot then your profits and losses come directly from how effective your strategy really is, so this notion that bots bring profits or losses on their own is ridiculous, the one that wins or losses is always the trader behind the bot.

[Savemore]

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Its not really that not profitable because all things will vary on the market movement.There are already bots which had been modified for a specific market condition and its been set up
by traders or its creators itself which basically means that it is an automation of trades in behalf of you.People do always had that misconception towards bot which isnt really true.
You can say its garbage if you do expect on it too much on where it can make money which is really wrong and you will surely realize that in the end when you do see
that nothing do works on what you had expected.Better to trade manually rather than heavily relying into these bots.

There are people who complaining because of the trading bots and it is the problem because they are just depending on it. Do not treat trading bots as a sure profit because there is no trading bot that existing like that. Instead of complaining, it is better to think a way in order to become profitable in trading. I really do not trust trading bots, did you see any successful traders that are using it? Of course none right because all of them are trading by their selves.

[rodskee]

There are people who complaining because of the trading bots and it is the problem because they are just depending on it.

The very wrong impressions by most traders who did not really to the research before using such tool.
A bot still relies from how the users program them no special skills but everything depends from the
user itself and the bot will execute.

Do not treat trading bots as a sure profit because there is no trading bot that existing like that.

Never. It will be a good tool if you really understand the flow inside the market, if you have knowledge
and good skills to anticipate, then let the bot deal with what to intend to do without watching the market.

Instead of complaining, it is better to think a way in order to become profitable in trading.

All ends with your own research, you'll find good decision making and you'll be able to make your
bot very useful to your everyday trade.

I really do not trust trading bots, did you see any successful traders that are using it? Of course none right because all of them are trading by their selves.

We never know for sure, maybe there are traders who also use this tool,  they know how to
configure it and know how to execute the right way.