Crypto Trading Bots: Traders Take On Them

[so98nn]

Haa! When we are in the crypto space we don't talk about legality and illegality. 

I mean, people have taken these things to next level and many of them have advantages to use crypto currencies as escape plan from the black stuff.

Perhaps, trading bot is just way of trading and it's completely legal, obviously. Moreover normal exchanges (other than crypto) also offer such stuff. I bet nothing is wrong in that. People have gone far from this to do copy trading too.

[wxa7115]

Bots are used in traditional finance for 2 or 3 decades so why not on the cryptocurrency market? @wxa7115 is right and I believe the most profitable/developed bots are not up for sale on the web. It's like if the big banks released their bots for free as open-source software ^^.

There are a few members who have posted their own tread with their own experimentation of some bots. I haven't read them all, but I remember that for one of them it's a complete waste.

The current bots don't cost too much so it doesn't harm to give it a try with a small amount to test the water but gambling with your whole portfolio is very crazy if you ask me. The same goes for if the person is a newbie to the market, I wouldn't advise looking at this. Old school is better :p

The last sentence is key, I understand that people want to automate as many processes as they can and if they can use a bot to produce profits in the markets while they are sleeping then they will want to do so, and without a doubt that is a very attractive idea, but for the most part all of those that are using bots to trade the markets began trading the old-fashioned way.

There is no way around it, if you want to make profits in the market is the first thing to do is to learn as much as you can and then create your own system and finally once you have a system that you know can beat the market then you can consider the idea of using a bot.

[CryptopreneurBrainboss]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Not a huge fans of trading bot, the more we support them, the more scammers will seize the opportunity to defraud gullible Investors and newbies of their hard earned money. You can personally carryout must task the bots those and it adds to your trading experience and increase your chances of becoming a better trader. Bots make traders lazy as they tend to rely on the bots for executing their trades.

Copy trading is becoming a norm due to the bots making it easier to do this. While the profitability is encouraging still it's depriving new traders from entering the market. There's more benefits to developing your own trading strategy and work to perfect it instead of following another traders reading if the market.

[ReiMomo]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Scheme? I guess trading bots don't scheme on my side.

They are just a tool to be used in trading and they won't be worked if you don't know how to set up a bot. In short, the trading bot will work just because of you, and it will execute on behalf of you when you are away from your computer or even while you are sleep.

If you will have a plan to use a trading bot, make sure you aren't a newbie in trading. Because this automated tool will not work on its own without your command. Still, you will be used your strategy and skills.

[darkphoenix2610]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Scheme? I guess trading bots don't scheme on my side.

They are just a tool to be used in trading and they won't be worked if you don't know how to set up a bot. In short, the trading bot will work just because of you, and it will execute on behalf of you when you are away from your computer or even while you are sleep.

If you will have a plan to use a trading bot, make sure you aren't a newbie in trading. Because this automated tool will not work on its own without your command. Still, you will be used your strategy and skills.

I called it a scheme since it is a scale systematic plan or arrangement for attaining a particular object or putting a particular idea into effect. When using a trading bot you're always expecting it to gain a profit and never loss. Do you mind sharing the trading bots you are using with us?

[FanEagle]

The problem with bots is the marketing and not the bots themselves. People act like buying a bot would mean that you will profit better than you could personally and that is NOT what trading bots are all about, they do not provide to trading anything more than what you provide because if you do not know how to trade that means you can't make the bot trade better than you neither.

However if they were marketed like "would you want to be able to trade 7/24 without breaks in 100 pairs? Get a bot and it will mimic you that way" I would have been fine with it. because what they do is exactly that, it is just YOU that does the trading, but you are not on PC while it does. If you are a horrible trader, your bot will be a horrible trader as well so you should stay away from them.

[lixer]

I called it a scheme since it is a scale systematic plan or arrangement for attaining a particular object or putting a particular idea into effect. When using a trading bot you're always expecting it to gain a profit and never loss. Do you mind sharing the trading bots you are using with us?

Yes, bots are basically putting an idea into work but I don't think anyone expects only profits and no loss from bots. I mean bots are going to have loss too because even the best traders have bad days and the bots are not invincible.

Comparing with a scheme is actually a curious way of looking at it, a scheme usually means they will give you a offer and you accept it but the bots are not going to work for others instead they are going to work for you and it will be you will be the one entering various data based on which the bot will then execute trades so it is more like a support for you and the developer charges their fees for making it.

[0xBitcoins]

The problem with bots is the marketing and not the bots themselves. People act like buying a bot would mean that you will profit better than you could personally and that is NOT what trading bots are all about, they do not provide to trading anything more than what you provide because if you do not know how to trade that means you can't make the bot trade better than you neither.

Yeah you are right. For marketing purposes they are advertising with catchy words like big profits through bot trading but practically only up to the level of profits what manual trading is making alone possible with bots and if we run bots all 24 hours then we can make significant profits with respect to more trading hours.

[Dorodha]

There are lots of bots available in the market but it really depends on you what you are looking for, I mean Crypto Trading Bots depends on your business taste whether you are a tech trader or a basic trader. Crypto Trading Bots is always good to learn to follow and earn. You can follow high performing leaders to clone businesses and strategies There will also be the possibility of losses in business. Newcomers are at greater risk due to bot use. Crypto Trading Bots is better for traders to trade manually using trading tools in a better market than to accept the scheme.

[darewaller]

Perhaps, trading bot is just way of trading and it's completely legal, obviously. Moreover normal exchanges (other than crypto) also offer such stuff. I bet nothing is wrong in that. People have gone far from this to do copy trading too.

Yeah, there should be no problems regarding legal matters when using a bot but mostly these bots are ineffective and people expect bots to be cash cows such that they will generate money for them but the truth is bots are only made to automate your trades and to save time, they do not have intelligence and at least I haven't seen a bot that uses its own metrics.

There is no way around it, if you want to make profits in the market is the first thing to do is to learn as much as you can and then create your own system and finally once you have a system that you know can beat the market then you can consider the idea of using a bot.

Agree with most of the part but you don't have to beat the market, instead understand the market and learn how to adapt with the various problems and learn about features like stop-loss and even stop-profit to avoid greed at times.

[eXtremal]

There are lots of bots available in the market but it really depends on you what you are looking for, I mean Crypto Trading Bots depends on your business taste whether you are a tech trader or a basic trader. Crypto Trading Bots is always good to learn to follow and earn. You can follow high performing leaders to clone businesses and strategies There will also be the possibility of losses in business. Newcomers are at greater risk due to bot use. Crypto Trading Bots is better for traders to trade manually using trading tools in a better market than to accept the scheme.

So far I am also confused with trading bots even I am very blind to this kind of bot, you mean, are all bots different? or some sort of group and each group has a different bot? sorry i always trade manually, and i would like to know more about trading with BOT

[Yatsan]

It is up to you if you will going to use trading bots and if you do really find it helpful on doing your trades. Honestly we do have different stands and perceptions upon using trading bots or just get into independent or traditional trading by just using your own skills and resources to do trading. There is nothing wrong on using trading bots as long as you find it beneficial and helpful into your own part. But for most people, many tend not to use trading bots for they trust their own skills and capability on handling their trades for at the same time you cannot entirely be dependent on using trading bots because they are just helping tools and not actually the ones who will do all the trades for you. You still do have to be knowledgeable and experienced on doing trades if you want to succeed in this industry of trading.

[TitanGEL]

It is up to you if you will going to use trading bots and if you do really find it helpful on doing your trades. Honestly we do have different stands and perceptions upon using trading bots or just get into independent or traditional trading by just using your own skills and resources to do trading. There is nothing wrong on using trading bots as long as you find it beneficial and helpful into your own part. But for most people, many tend not to use trading bots for they trust their own skills and capability on handling their trades for at the same time you cannot entirely be dependent on using trading bots because they are just helping tools and not actually the ones who will do all the trades for you. You still do have to be knowledgeable and experienced on doing trades if you want to succeed in this industry of trading.

I think what we should give focus is if we are making money with the help of trading bots or not? If not then better to trade without using any kind of trading bots. I still not experienced to use it because I do not have any idea on algorithms and other skills in operating a trading bots. Anyway I do not have plan to use it because I have a consistent earning in trading so there is no reason for me to use it. My perspective is trading by ourselves without help of any trading bots are much better if you want to become a profitable trader in the following years in trading. In order to succeed, we should know what suitable for us if it is manual trading or it is by using trading bots. By focusing then we can save more time in order to master it.

[Reatim]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Bot are legit unless use for scamming purposes but remember that this is only a tool and you as owner and trader will still responsible for any losses you may occur along the way using bot.

Still know your activities,never invest to currency that is only shared by others yet make your own research and judgement because in the end of the day,you can blame no one but your self.

[Shiru]

What are your thoughts about Uniswap trade bots. A good example is UNISNIPER BUYING BOT! It auto executes quick buy orders on Uniswap under 8.13 seconds 

[Bosx1ne]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Bot are legit unless use for scamming purposes but remember that this is only a tool and you as owner and trader will still responsible for any losses you may occur along the way using bot.

Still know your activities,never invest to currency that is only shared by others yet make your own research and judgement because in the end of the day,you can blame no one but your self.

There are bots in the pasts that are scams wherein if you avail one of those, you will not get any feature on using it. Be careful on what kind of bots that are we using because not all of it are legit and useful. I tried to use a bot before my winning rate is 70%, for me it is already high even though there are losses that I keep incurring. Many traders think that when you use trading bots, you will have automatically 100% win rate but all of it is not true and those are just misconception.

[Ridwan Fauzi]

It is depend on your analyst, you will get a profit if your analyst is good. Because as far as I know trading bot just a robot that you can set buy and sell while you aren't able to see the market. At this way, you choose a bot to do what you want in your prediction.

And for me, I don't think this is a good way to trade, trading crypto is not like in the other place like in stock exchange. All the price movement is really volatile, moreover if you are a daily trade, as you can see now in one hour frame that I think it is nog worth to use trading bot.

All trader will have a different strategy and maybe our strategy is different. You can use trading if you think or even if you have felt that trading bot is usefull and make you comfortable in all you daily trade then you can use it. But, if you just start to using it you may need to be carefull and just use a small money to try.

[Mrengage]

Everyone wants to make a profit from trading cryptocurrency. And there are lots of users or people in the crypto world who offered Crypto Trading Bots. Do you think it is advisable to take this kind of scheme? Is it really legit to use trading bots? https://crypto.co/technology/crypto-trading-bots-traders-take-on-them/

Everything has it's time and place thats another thing you have to know. The bot might get out of hand and waste your funds if professional care is not taken. Its best to have that knowledge stock with you than give your hard earned capital to a bot to trade or let's say getting unconfirmed signals from a corrupt bot.

[wxa7115]

It is up to you if you will going to use trading bots and if you do really find it helpful on doing your trades. Honestly we do have different stands and perceptions upon using trading bots or just get into independent or traditional trading by just using your own skills and resources to do trading. There is nothing wrong on using trading bots as long as you find it beneficial and helpful into your own part. But for most people, many tend not to use trading bots for they trust their own skills and capability on handling their trades for at the same time you cannot entirely be dependent on using trading bots because they are just helping tools and not actually the ones who will do all the trades for you. You still do have to be knowledgeable and experienced on doing trades if you want to succeed in this industry of trading.

There is nothing wrong with bots what it is wrong is the mentality of many of those that want to use bots to not learn the necessary knowledge to become successful in the market, they want the bot to do everything for them but if they do this then how are they going to be able to tell if the bot they have and the strategy it uses is effective?

At the end there is no way to replace your skills with a bot, before you use a bot you need to become a good trader and only once once you achieve that then you could determine if a bot is any good and you should buy it or if you should create your own bot that trades exactly the way you do.

[jostorres]

I would like to say the best case scenario for people would be to find trading bots that are in their purchasing power limits and giving it a try. Because I have seen so many different results from all kinds of people so I would have to say everyone has to try it at least once. Do not pick a horrible one just because you can't afford it, try to save money as much as you can and get one of the great ones, and when you do get that good one, you will also need some capital to start trading as well.

I would say on average 100-500 dollar is the range for a decent trading bot and 1000 dollars is a good amount to start. So if you reach 1.5k-2k dollar levels in savings, just give it a try. The worst thing would be losing that amount, but the best would be figuring out a way to make stream of income for a good while and doubling your money in few months.