BOT TRADING

[TokenBot_]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

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[livingfree]

Honestly, I haven't tried any of those bots.

But if I'm to choose, I'll choose the live-trader but isn't this the same as copy-trading? And what's with the strategy bot? if you can give more details about the strategies that it has, it will light me up with my confusion towards it.

Needless to say, stop-loss feature is what I needed most and doing trading the natural way is still my best choice.

[Vispilio]

Copying someone else is not a very good idea in trading,

if enough people start copying a successful trade, you will almost always observe that such a trading methodology will lose its edge and profitability in the near future.

Same is true for algorithmic trading, no matter what your style is, you need to make sure as few as possible people on the planet can figure it out or imitate it...

[Salauddin1994]

Bot trading you can auto trade bots on a live trader basis but the risk is higher by using bots the explosion of popularity in cryptocurrency has led to an increase in the number of crypto trading bots available free from open-source platforms or licensed for users in exchange for flat fees it is difficult to determine which of these serves a purpose and which is a waste of time. Manual trading has become increasingly popular among traders of market volatility this allows businesses to stay in control of their business rather than using bots. A properly defined merchant allows businesses to perform manually faster and more efficiently.

[maydna]

No, I don't use a bot for trading because I can not improve my skills and follow the market's current situations. Besides that, I need to adjust the bot every time the market changes the direction, and I think that will not be good for me. The bot can't follow the market without we set it up, and that is why we need to adjust the setting for the bot. I don't want to use a live trader because I don't want to use their analysis without analyzing myself. It is better to manual trade and learns many things related to trading to improve our skills based on the market's current situations.

[maxreish]

Auto trading bot is profitable but not all the time that they are reliable. Sometimes they doesn't configure well that leads you for losing your fund. However, it always depends on the trading bot you use because they are tons of unreliable and inefficient bot in the present today. If you don't manage your time well, auto trading bot in live trades is a good choice.

But, I prefer to trade by myself now. I can fully manage my own trading, eventually add up some strategy by my own when needed.

Anyway, for those who wanted to check out some trading bots with reviews and infos, check this out

[KnightElite]

Auto trading bot is profitable but not all the time that they are reliable. Sometimes they doesn't configure well that leads you for losing your fund. However, it always depends on the trading bot you use because they are tons of unreliable and inefficient bot in the present today. If you don't manage your time well, auto trading bot in live trades is a good choice.

But, I prefer to trade by myself now. I can fully manage my own trading, eventually add up some strategy by my own when needed.

Anyway, for those who wanted to check out some trading bots with reviews and infos, check this out

I actually considered the bot trading as not reliable and not profitable, I've read a statistics before showing that a lot of traders are most likely incurring huge losses using a bot. I do not advise other people to use it because for me it is risky and it is not worth. It is not worth it in a way where you need to pay first before you can use it then you are not yet sure if the bot will give you a rewards or not. I'm a trader who trading by self, I love to read candlestick and chart patterns. I think one of the reason why the trading bot became so much popular is because a lot of people thinks that they can be profitable if they will use it. Actually it is not true because trading bots are not holy grail wherein you will have a sure profit. I'm against trading bots and for those new in the market do not be deceive by other people saying that trading bots are good, it is not good and you will not be a good trader if you become dependent on it. By trading with yourself, you can gain experiences that you can use in the near future in order to become profitable trader.

[palle11]

Needless to say, stop-loss feature is what I needed most and doing trading the natural way is still my best choice.

Is still the best too. You have everything to it but bots have no business with certain aspect that you see in live trading. Example with fresh news that can instantly change the analysis parameters, bots may not be able to handle such trade.

But trying bot on a live trade is risky and reducing your risk size is advised.

[sheenshane]

Actually, we had a different perspective view of using the automated trading bot.  Yes, you can't completely really on this while you are in trading and still, trading needs your skills and strategies had used not the trading bot will work for you.  With the setting parameters for your position that auto trading bot will execute your open orders, execute stop-loss strategies, and all guaranteed stop would be executed while you are in a break was a helpful tool to do that stuff. 

So, therefore, trade by yourself is good but believe me, using a tool like an automated trading bot is a perfect tool for fast trade execution.

Anyway, that doesn't matter if you will use for live trade or based on algo strategy, as long as you know how to set the bot by your own skills and strategy and speaking of copy trading, that's for a newbie trader only but that's another story.

[Insanerman]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

Well  nothing is wrong with using any of the two. Some posts in here are saying that this or that are risky and not preferable. Yes, it is risky, but not to the point that we justified everything as bad to be use. There are tons of bot that isn't that risk taking in trading, as risk is already involved and normal in trading. Bots are just mere programs that reads and analyze the market and places orders and even based on its readings, in which at first the owner are aware of. Meanwhile, copying live trader is also not a bad idea. There are tons of traders that are just part time traders that has their own different field jobs, in which copy trade is always their best option when they still wanted to earn a little just by entrusting his trades onto the trades of the others.

Overall, I would really bet the use of any  of the two, depending on the situation and the risk appetite of the trader. Use the bot only if you wanted to make trading much easier, yet be aware that it is riskier. And user copy-trade, if and only if you know some trader that are good and you could take the risk imitating both of his loss and gains.

[bitgolden]

I rather be capable of deciding what the bot does, I do not like it when bots act like "let me handle this" and take everything from me, which some bots do and I think they are just too overconfident with the way things were for me to let them handle what things will be. However when I see a bot that I can change however I want and if it has a great GUI that allows me to understand it easily so that I can change it, I do enjoy them.

I am not using any right now, but when I did, I am not a developer so I used ones that way easy to configure the way I want it to be in a way that someone who has no idea what "sudo su" means can, that is how easy it should be and that is how complex I could be doing it in the indicator part of the sense. This is why I care about bots being able to let me do my thing, just do what I want for 24/7 that's all I want.

[seleme]

For high-level trades, Algo trading is profitable because a single tick can turn a 0.1% profit at the end of a trading calendar day and the scalping amounts are higher if the algorithm works flawlessly. The small trades doesn't worth it because big boys use high-end tech and beating the ping of institutional trading organizations is impossible. For 1 MS speed, they spent $15 mln a few years ago on Chicago, IIRC. Imagine spending billions for making more billions and don't care about the future consequences of using high tech trading methods.

[Smartvirus]

Copying someone else is not a very good idea in trading,

Copying other persons trading strategy is a very wrong approach to trading as a soon to be professional trader or even as a trader of what ever level. What works for Mt. A is most unlikely to work for you and as such, you've got to demo trade for a strategy and perfect it on live. Not copying people's traded or relying on trading other people's signals.

Same is true for algorithmic trading, no matter what your style is, you need to make sure as few as possible people on the planet can figure it out or imitate it...

On this note, I'm not quite sure if I should agree with you. Studying candle stick patterns at key areas being the resistance and support has defined entry and exit points for a market and other traders are aware of this which brings them into the market and it's a good thing.

Not trading is good especially when you've got a large account size.

[Quidat]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

I would be lying if i would say that i havent test out a bot ever since in my trading career and actually i had tried both bot basing of with algo and a live trader.
Asking on which one is best? I would go for algo yet somehow it does have its cons which that you can only find in live trader.So its a balance between on them
but still this do end up on traders preference and you can actually spot out the difference when you do decide to try both of them but generally its just a waste
of time on spending some dime into these things yet it is always better or worth to trade on spot manually.Bot used for automation though but not really
a reliable thing for you to depend on.

[Stalker22]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

I would definitely choose a well-tuned algo strategy if I really have to choose between these two. I think every trader can have his good and bad days no matter how good he is in his trading.
But for me, bots are just a tool. Tools are useful and powerful when they are your servant and not your master.

[wxa7115]

Copying someone else is not a very good idea in trading,

if enough people start copying a successful trade, you will almost always observe that such a trading methodology will lose its edge and profitability in the near future.

Same is true for algorithmic trading, no matter what your style is, you need to make sure as few as possible people on the planet can figure it out or imitate it...

Correct, now I am seeing that some platforms are including the option of copytrading, which is nothing more but a way to allow you to make the same movements of some of the biggest traders on the platform and this is a huge mistake, as for the most part they allow you to imitate the moment they buy but I do not see anything about the moment they sell which is half of the trade itself, also if I was one of those traders and I discovered that the platform I was using implemented this I will immediately leave it behind as someone smart could figure out my strategy and as you say I will lose my edge because of it.

In that case my answer to the OP is clear I will prefer a bot that trades with a strategy I devised myself, as trading with a commercial bot with a standard strategy has the same problem that I described above of the bot eventually losing its edge as more and more people use it.

[XZERO1]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

Trading based on someone else's trade could sometimes work but it's not going to last a very long time and I don't think that's a proper long term strategy that you can depend on since even the best traders could lose big and more importantly I don't think we have that many good(more than 70% successful trades) traders either.

Don't trust those screenshots that these random traders share in their page claiming it's their 100th or 1000th consecutive successful trade and you should join their channel and buy their premium/VIP membership and such, they only usually show 10% or less of the bad trades they made and even that is just to make their trading history look more natural, in other words only those which are moving the market know where the price will go next and anyone else can only make predictions.

[sarmrakib]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

I think it  will be risky to trade by a BOT .I never try it but as i know its a default strategy made by a trader which will act as a bot on trading .But you can loose your money if bot started to get loss .On the hand sometimes you can earn though but risk factor in all time .

[drlukacs]

Would you rather auto-trade based on an algo strategy bot, or have the bot auto-trade based on a live trader?

I will choose auto-trade based. because live trader will be quite similar to copy trade and so far no one gets rich based on trading according to the decisions of other traders.
I have seen a lot of bots with a pretty high win rate, and betting on it in a short time will be able to make about 5-11% in the first few months.
But my advice is never to invest long term in trading bots. The market is always changing from day to day and the algorithm of trading bot will soon become obsolete.

[bitbunnny]

I think that trading with bot it's quite similar to playing lottery with numbers that already won in some combinations. Bot actually copies some learned moves in the market that doesn't necessary reflect the true situation in the market.
In short I wouldn't recommend bot trading because I don't think that any software can replace that human "touch" and there is no short and automated path to profit. Bots can be used for fun but definitely not for serious trading.