BOT TRADING

[J1mb0]

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

I don't believe in trading bots, if anyone could program a good trading bot he would probably become a millionaire instead of selling his bot.
And every investor needs his own strategy in trading, copying is not a good strategy.

[wxa7115]

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.

It depends on the way the bot is coded, if you code that kind of strategy in the bot then most likely it is going to lose, with the difference the bot will be incredibly efficient at losing money which is precisely what you do not want.

However there are many traders that use a system that does not rely in any kind of human touch as you describe it, they trade based on strict rules about the conditions necessary to enter or exit the markets and any trader which such system can easily code it into a bot as that is exactly what a bot in theory should do, the problem of course is that if you make a mistake in the code the bot may end up doing something different than what you thought it should do in some circumstances and lose money in the process.

[emmybd]

Bots are now in high demand with the rise of more effective crypto exchanges, due to their aptitude for generating lucrative crypto trades each day. Facilitated with profound algorithms and handled by pre-eminent companies, a multitude of bots are found all over the market with their functions and drawbacks.

Nonetheless, the majority of bots turn out to be scams intended to snatch deposits and account balances from investors. Some dupe investors into signing for deals with scheming brokers. Thus these should be used by trading crypto veterans who would be able to strategically use bots while trading to make the process more efficient. Bots, too, simultaneously make exchanges multiple times a day.

That doesn’t mean, however, that bots are prohibited to rookies. The rookies, with a bot accompanying them, have it easier to make trading decisions because of all the options and strategies now available and known to them.

[pooya87]

That doesn’t mean, however, that bots are prohibited to rookies. The rookies, with a bot accompanying them, have it easier to make trading decisions because of all the options and strategies now available and known to them.

i disagree. someone who doesn't understand the market and has no idea how to trade successfully to make profit will not be any more successful using a bot. in fact in most cases they lose more money using a bot than if they were trading manually.
the most important thing in being a successful trader is experience and experience is only gained through analyzing the market yourself and making trades that way. otherwise using a script that makes orders automatically with an algorithm that has a low success rate won't give you any experience!

[NMBT]

Hello,

There some automatic bots in the market that you can try for 7 days.

I would try to use Arbitrage bots instead of Trading bots, as Trading have always Risks.

One of the most important arbitrage bot is cryptohopper, check it.

[Dollar_Hunter]

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

since I started trading I have never used Bot trading, I prefer my own way,
by reading several indicators makes me comfortable with it, one of which is reading the RSI.

[Traderbtcc]

Bot trading can be profitable at times but certainly not always, same goes for copy trading they are both nice ways to trade and make profits, unfortunately they are not the best way forward, I mean if anyone wants to become a real trader, using methods like this bot trading and copying trading will definitely slow down his growth and will make the person unable to trade without making use of these tools, for me it's better I take the risk, and learn from any outcome I get in return, that will surely give me more experience about how the market works.

[milewilda]

Bot trading can be profitable at times but certainly not always, same goes for copy trading they are both nice ways to trade and make profits, unfortunately they are not the best way forward, I mean if anyone wants to become a real trader, using methods like this bot trading and copying trading will definitely slow down his growth and will make the person unable to trade without making use of these tools, for me it's better I take the risk, and learn from any outcome I get in return, that will surely give me more experience about how the market works.

This one talks for those who are sensible and who are eager to learn trading and doesnt really care if it would takes long time for them to learn as long they do actively engage with it.
Trading bots and copy trades arent really that bad though but i agree that this will just slow down your progress for you to be a real trader but if you do want the fastest way
and doesnt really like to learn that seriously then majority would really be ending up with this kind of option.Its up to someone though on what path they would choose
but everything doesnt really guarantee profits.

[wxa7115]

Bots are now in high demand with the rise of more effective crypto exchanges, due to their aptitude for generating lucrative crypto trades each day. Facilitated with profound algorithms and handled by pre-eminent companies, a multitude of bots are found all over the market with their functions and drawbacks.

Nonetheless, the majority of bots turn out to be scams intended to snatch deposits and account balances from investors. Some dupe investors into signing for deals with scheming brokers.

While there are many bots that you can buy there are several problems with them, the first is that as you say there are a great deal of scams in the market and the market of bots is not an exception, you buy a bot thinking you are about to make money only to lose it all by buying a piece of software that does nothing and losses you money in the markets or because the software had a hidden virus and a hacker steals the coins in your wallet.

That doesn’t mean, however, that bots are prohibited to rookies. The rookies, with a bot accompanying them, have it easier to make trading decisions because of all the options and strategies now available and known to them.

Newbies can use bots if they want but I think it is pointless in their case, the main advantages of bots are perfect execution of your strategy and the ability to monitor all the markets you like and trade them all the time and as you can see those two advantages do not really help a newbie that much anyway.

[TheGreatPython]

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

No bots now and ever! If you are going to trade successfully, you need to train a lot. Work by yourself. The situation can be compared with the person, who wants to get muscles, but he is too lazy to go to the gym. Instead, he gets a small ABS muscle toner and waits for the result. No result here.

You might have a point but the way you compared the two aspects are really different. Building muscles require you to workout and it is similar to working on a gym and working at home that might be a better comparison.

I don't think bots are as bad as people sometimes make them look because all they are doing is automate your trades with the data you enter and the limits you set like stop-loss and other parameters. If you are actually doing large number of trades then bots are a good option indeed because human errors are eliminated and you don't have a chance of making any mistake.

[redsun114]

I don't believe in trading bots, if anyone could program a good trading bot he would probably become a millionaire instead of selling his bot.
And every investor needs his own strategy in trading, copying is not a good strategy.

There are some good bots and you can read about them how they work, not everyone who can develop bots is good at trading because developing bots require coding knowledge and API implementation such that the bots are working in tandem with the exchange and placing buy and sell orders for your account, which you input into them.

Bots are now in high demand with the rise of more effective crypto exchanges, due to their aptitude for generating lucrative crypto trades each day. Facilitated with profound algorithms and handled by pre-eminent companies, a multitude of bots are found all over the market with their functions and drawbacks.

Right but I would say that if a bot is actually doing copy trading then better to stay away from it because copy trading is indeed one of the worst ways of trading as you are fully dependent on someone else and his success will only bring success for you plus their commissions I guess are involved for copying their trades.

[pankowri]

No, I have not any experience with bot trading rather than it is an irritating one for me. Because I have some Ledu tokens and I went to sell them on exchanges after seeing a good volume. Whenever I went to sell those on exchanges I discovered that there has shown fake volume by bot. The exchange use bot trading which gives us fake volume and I tried almost one year to sell those but I failed. So bot trading is irritating for me. However, it can be used for good sides too which I don't know.

[crazy-pilot]

No, I have not any experience with bot trading rather than it is an irritating one for me. Because I have some Ledu tokens and I went to sell them on exchanges after seeing a good volume. Whenever I went to sell those on exchanges I discovered that there has shown fake volume by bot. The exchange use bot trading which gives us fake volume and I tried almost one year to sell those but I failed. So bot trading is irritating for me. However, it can be used for good sides too which I don't know.

What you are talking about is different from what is discussed in the topic. What the exchanges use is called volume wrapping using bots. This is used by a huge number of exchanges in order to display fictitious volumes.
But you can trick the bot by placing orders as low as possible, then those who run the exchange will be forced to buy your coins manually or accept that the price of the coin will be artificially reduced.

[pankowri]

No, I have not any experience with bot trading rather than it is an irritating one for me. Because I have some Ledu tokens and I went to sell them on exchanges after seeing a good volume. Whenever I went to sell those on exchanges I discovered that there has shown fake volume by bot. The exchange use bot trading which gives us fake volume and I tried almost one year to sell those but I failed. So bot trading is irritating for me. However, it can be used for good sides too which I don't know.

What you are talking about is different from what is discussed in the topic. What the exchanges use is called volume wrapping using bots. This is used by a huge number of exchanges in order to display fictitious volumes.
But you can trick the bot by placing orders as low as possible, then those who run the exchange will be forced to buy your coins manually or accept that the price of the coin will be artificially reduced.

Yes, I understand what you want to mean to me. I just shared my experience with an exchange which was not good. In my first sentence, I have already told that I have no experience with bot trading rather than I am still learning bot trading and already found a sites which gives it's customer for many types of bots for trading even if you are not live on internet, you can give some instructions to it then it will manually do whatever you give in instructions. So its interesting to me and I may share my experience after using their service.

[Mahanton]

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

No bots now and ever! If you are going to trade successfully, you need to train a lot. Work by yourself. The situation can be compared with the person, who wants to get muscles, but he is too lazy to go to the gym. Instead, he gets a small ABS muscle toner and waits for the result. No result here.

You might have a point but the way you compared the two aspects are really different. Building muscles require you to workout and it is similar to working on a gym and working at home that might be a better comparison.

I don't think bots are as bad as people sometimes make them look because all they are doing is automate your trades with the data you enter and the limits you set like stop-loss and other parameters. If you are actually doing large number of trades then bots are a good option indeed because human errors are eliminated and you don't have a chance of making any mistake.

You cant say that you would be completely errorless or free of mistakes when you do make use of bots because inputting itself do still have chance for you to commit typos or errors.
When it comes to execution then theres no doubt that Bot would really do the job well done but this would always be for automation purposes.I cant blame out people to have some
negative inputs towards these things but actually they are pretty useful if you do know on how to utilize these things but if not then this would really be harmful instead.
Trade manually and then try to learn things up before tending to make use of some for automation.

[crabby]

Why not try both?

Shrimpy is a trading tool that allows you to automate a strategy using bots or follow a trader. You can even do both in the same account.

Check it out and see what you think: https://www.shrimpy.io/

[wunderbit]

Free trading bot strategy {code included}
>>> MACD Strategy with trailing ATR stop <<<
https://www.tradingview.com/script/2jDHQAJc-MACD-Strategy-with-trailing-ATR-stop/

[Shasha80]

I prefer to use manual trading instead of using a trading bot, because I have a bad experience with trading bots.
Several times using the trading bot, eventually in the long run experiencing losses, maybe I can't set the trading
bot that I use. I wouldn't say trading bots are bad, but I find it unsuitable to use a trading bot.

[as.exchange]

"Bot trading" as it is very unlikely to be profitable at all for a long period of time with sustainable returns, as correctly noted by some of previous commenters.

"Algorithmic trading" on the contrary - can be and is profitable, however, thats nothing what you might have in mind, but it's huge systems developed by hedge funds, banks and investment companies with multi-billion tech (software & hardware) infrastructure, own direct connectivity to the exchange, usage of high-speed Internet (which even not all companies would have access to), usage of AI/DeepTech/ML/BigData/[insert all the cool tech words you heard from media], and same billions US$ spent on large teams to develop, maintain and continually improve the actual trading algorithm.

So now compare your success chance of using "bot trading" for which you pay few hundred $$$ vs. "copy-trading" (the worst idea; if you believe in that trader - better let him manage your money directly) for which you pay subscription fee of few $$ + share profit vs. the actual "algorithmic trading" backed by the teams of some of the smartest people in the world with super-deep pockets.

Oh, and important point - the institutions that utilise "Algorithmic trading" are usually pretty happy if they can make 15-20% annually sustainably... so what's the actual expected ROI with bots & copytrading?..

[wunderbit]

Wunderbit Trading is proud to announce the integration of a cryptocurrency derivatives exchange - BitMEX.

Traders of BitMEX can now enjoy features of Wunderbit Trading:

• Copy-trading
• Trading bots
• Crypto trading automation
• Futures spread trading terminal
• DCA bots

BitMEX exchange

BitMEX is the world’s most advanced peer-to-peer crypto-products trading platform, supported by best-in-class API, and giving knowledge, confidence, and precision to hundreds of thousands of traders, transacting the equivalent of billions of USD every day.

The core benefits of Bitmex are:

• High security
• Outstanding trading fees (Maker -0.025% | Taker 0.075%)
• Very high liquidity, especially for the XTB / USD pair.

How to build a trading bot for BitMEX

Register with Wunderbit Trading
1. Connect BitMEX API
2. Build your bot using TradingView script
3. Send your Tradingview Alerts to Wunderbit Trading and they will be automatically executed on the BitMEX exchange

In the next couple of weeks, Wunderbit will introduce free Trading Bots available on BitMEX.

Wunderbit Trading: https://trading.wunderbit.co/en