Binance trading bots are garbage

[buwaytress]

Just reading first and last page and I think we're confusing bots with strategies here. Bots = a script that automates trading, triggering order events and closing positions or opening new ones according to instructions pre-determined by the user.

So a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.

Profit relies not on the bot but on the strategy (or if you're me, dumb luck).

[Wawa2013]

Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

[Hamphser]

Just reading first and last page and I think we're confusing bots with strategies here. Bots = a script that automates trading, triggering order events and closing positions or opening new ones according to instructions pre-determined by the user.

So a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.

Profit relies not on the bot but on the strategy (or if you're me, dumb luck).

People havent realize this one and you are perfectly right on what you had said where there's a confusion on whats a bot all about.Majority do believe that this one can really make money
but as said these are just scripts that automate trading that had been set up by the user itself.It do indeed matter with coding and thats why we do able to see lots of bots in the market
with specific kind of strategy based up on market movements.Its a garbage? then its not that something new because not all the these times these bots will really be profitable.

[Savemore]

Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

People deceived on others opinions and promotion just because they thought they can have "passive income" through using it. It is their fault to fall in that kind of trick because it is just indicating that they have wrong mindset about trading. Actually there is no passive income in trading and they should be aware of it because it is a game of possibilities but you can consistently earning through it by having a proper plan and good discipline.

[SquallLeonhart]

Strategies plays a big role in the life of bots, that is why people got carried away in between there, because if you have a bot you have to have a strategy, why? Because you can't just tell a bot to go make money, it doesn't work like that, bots do not have their own brains and they require you to give them a strategy to what to do and they will follow that 7/24 so that you can trade while you are asleep.

Obviously this is not something that is forever, because strategies change and what works today may not work tomorrow so you have to keep update it. In short strategies are things that we feed to bots to make us money, so it means that strategies are not stuff that is useless or irrelevant on this topic, they matter as well since we need to decide on a strategy that our bot will work on.

[chip1994]

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

It depends on the experience of the bot user. some bots are not good for some but profitable for those who understand it. It is important that you have enough knowledge to re-analyze what the bot has analyzed or not, this is very important and it affects your trade results a lot.
But best of all, we should still invest in our own people to get hands-on experience, then trade without any bots.

[Mauser]

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

It depends on the experience of the bot user. some bots are not good for some but profitable for those who understand it. It is important that you have enough knowledge to re-analyze what the bot has analyzed or not, this is very important and it affects your trade results a lot.
But best of all, we should still invest in our own people to get hands-on experience, then trade without any bots.

I think that people buy a bot to help with their decisions in crypto trading, but tend to not double check the bots. Its just easier to fully trust a system and then blame the system if something goes wrong. I used to work for an investment firm that sold a fully automated system, similar to black box that just did all the trading for you. Marketing wise we used to check all the parameters and ended using only the most favourable inputs. Without checking yourself you are at the mercy of someone else.

[Reatim]

Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

In the sense of managing your investment properly doing it in a traditional ways is much better, many already gave their own opinions
about using this tools and it's clear enough that bot only works from how the  users encode their target output from the system.
This works for traders who have long experienced inside this market, people who knows to calculate and anticipate what market may bring  them, the bot helps them to triggered their targets so even they are not watching the market bot will be the one that will work for them.

[South Park]

Just reading first and last page and I think we're confusing bots with strategies here. Bots = a script that automates trading, triggering order events and closing positions or opening new ones according to instructions pre-determined by the user.

So a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.

Profit relies not on the bot but on the strategy (or if you're me, dumb luck).

I think this is an important distinction, a good bot will follow the instructions that you have coded in it perfectly without any mistakes, however this bot is not at fault if the user puts a losing strategy in the code, for the most part that is the responsibility of the traders himself, even if some bots come with a default strategy it is obvious that such a strategy cannot be too successful as thousands or even tens of thousands use the very same strategy and this diminishes the effectivness the bot will have.

[princerepon]

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

If you are just talking about binance exchange then you probably wrong. Cause binance is the finest exchange at this moment. If you are not comfort with binance then you'll not find it any other places.
And if you are just frustrating because of bot then i can agree with that thing. Bot trading is not a good choice in my opinion. Cause soon or later you'll find out how it badly impact on you assets. That's why i don't recommend to use bot for trade.

[peterpanda]

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

Trading is not so easy that a bot will be able to earn huge money for you. You should use your own brain on it. Try to apply your own tragedy on trading.

[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.

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.

Success wont really rely on bots but these are indeed useful tools but people does really have a different approach towards this thing on where they do treat it just some sort of fast way on earning profits
but it doesnt really work that way.Manual trading is always preferable but there are really scenarios or times that we do need to use up some bots for automation specially if we are some sort of busy or away from
our computer.It isnt garbage actually but people who do believe that they do function out on whats inside into their heads which is the bullshit thing that someone could think of.

[bitbunnny]

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

Trading is not so easy that a bot will be able to earn huge money for you. You should use your own brain on it. Try to apply your own tragedy on trading.

Completely agree. Bots are not something you should rely on when trading and they will not help you get profit. To my opinion trading bots are useless and without your hard work, experience and good risk assessment you will not become successful trader. So, bots can be used only for fun but not for serious trading.

[tippytoes]

Just reading first and last page and I think we're confusing bots with strategies here. Bots = a script that automates trading, triggering order events and closing positions or opening new ones according to instructions pre-determined by the user.

So a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.

Profit relies not on the bot but on the strategy (or if you're me, dumb luck).

People havent realize this one and you are perfectly right on what you had said where there's a confusion on whats a bot all about.Majority do believe that this one can really make money
but as said these are just scripts that automate trading that had been set up by the user itself.It do indeed matter with coding and thats why we do able to see lots of bots in the market
with specific kind of strategy based up on market movements.Its a garbage? then its not that something new because not all the these times these bots will really be profitable.

And Binance has nothing to do with the performance of your trading bot. It is up to the trader what kind of performance he will get from his trading bot. I don't know if the OP is just ignorant or just trash talking binance? Because users here are not dumb to just believe what has been said by anyone without basis. Yes, a lot of these users thought that trading bots will make them instant rich without effort and skills applied.

[Kong Hey Pakboy]

Don't expect too much that trading bots will help you earn outstanding profits because trading bots can't outperform the crypto market that it is made for managing your portfolios while you are away. Automated trading bots are not reliable and efficient, that is why manual trading is still an effective way to make high profits.

[Mumbeeptind1963]

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

At the first place why using bots? Just try to learn different things in trading, read some latest news in twitter and in telegram it will be a lot easier for us if we will learn everything and will not depend on some bots, it will help you soon to be a better trader and also, the feeling of correct prediction using your skills and knowledge is better than anything else, so I would not advise that one.

[beerlover]

I personally couldn't handle any sort of bitcoin trading bot these days because right now everyone is making profit so people who owns bots try to make it look like their bot is awesome but in reality people who do manual trading makes a profit right now as well, there is really nothing too serious about making a profit nowadays, bots are not special in that kind of way. Do you know when I will really think bots are cool?

When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.

[Arkann]

I personally couldn't handle any sort of bitcoin trading bot these days because right now everyone is making profit so people who owns bots try to make it look like their bot is awesome but in reality people who do manual trading makes a profit right now as well, there is really nothing too serious about making a profit nowadays, bots are not special in that kind of way. Do you know when I will really think bots are cool?

When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.

I really understand that a good trading bot program will in any case make the technical analysis of the market several times better than me, and therefore the bot has a better chance of getting good results from trading than me. But I still have a very big distrust of such programs. In addition, if you already pay money for a trading bot, then you want to be sure of its performance, but for some reason only negative reviews always sound.

[tvplus006]

I really understand that a good trading bot program will in any case make the technical analysis of the market several times better than me, and therefore the bot has a better chance of getting good results from trading than me. But I still have a very big distrust of such programs. In addition, if you already pay money for a trading bot, then you want to be sure of its performance, but for some reason only negative reviews always sound.

I have previously had an unsuccessful experience of using a bot for trading. For myself, I explained the reason for the unsuccessful trade in two point:
- I didn't set up the bot correctly
- the bot is not suitable for working in a bear market.
I don't want to go back to working with bots again, because I'm already used to trading manually.

[MCobian]

Currently there are lots of trading bots that can be used on Binance exchange, but if you experience losses after using trading bots there are
several possibilities. That doesn't mean trading bots are garbage, the first thing is you don't set it up properly. This is  a possible cause which
most often happens when you fail to use trading bots, keep in mind that trading bots don't make you have passive income. The next reason
you use trading bots in the long run and forget to do updates, this is the next reason you lose money. It is a little complicated using trading bots,
my advice is to trade manually. Besides your trading skills will increase, the risk is much smaller.