Experience with Trading Bots

[leea-1334]

Gunbot is still the most reputable in the industry I think but people forget that using a bot is only about automating strategies,,, not about making easy money. I think the next step now is for bots to be used in defi platforms (apparently they already are), scalping cheap prices between LPs and making swaps all the time for small gains.

Maybe I could try this one (Gunbot). Because honestly, I didn't try any of them, and the reason is that I simply don't give my trust to anyone. I know that trading bots actually exist this time but to find a legit and working bot is really hard to find and it feels bad hearing about disappointment and complaints.
That is why I'd stick to what I normally do in trading, well, manual trading gives me more learnings.

I guess everyone has to try something sooner or later to get your experience;) I never used Gunbot but we all almost have heard about it and you cannot go wrong trying a reputable bot. From what I have seen, it is a solid program that does all it is supposed to say. Just remember,,, as I said, you must have a strategy on your own. The bot only does what you tell it to do, it does not automatically generate profit or finds signals:)

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[Kong Hey Pakboy]

I had a rather unpleasant experience with trading bots. I invested a certain amount of money in such trading bots a year ago, but both projects turned out to be fake and I just lost money. That is, my trading bots were not even trading bots, they were just a distraction. Since then, I have promised myself that I will no longer use the services of trading bots and the like.

There are free and open source ones that you can tweak to your specifications, I don't get why you paid for one. Bots can be a good help especially if you want to get up and do other things besides trading, if I am trading and if I could get my hands on one, I would probably go for one but given that you have a bad experience, I am sure that it will take more than a stranger on the Internet to convince you to try again.

[DdmrDdmr]

<…> How difficult are the bots to implement..I mean does it need a laptop or just a mobile device... Do I have to deposit there. Or copy out the coding

If you whip through the content of the Crypto Trading Bots, you’ll see that every entry on the list has information about the supported platforms, which tend to be one or multiple options amongst Browser, Desktop, iOS and Android.

In order to get a general idea, back in the day, and with no intend to endorse anything here, I took a look through the documentation provided by one of the platforms that seems to have some reputation here, and that has a running live thread: Gunbot.

Now the interesting exercise here is to at least read through the examples and explanations provide over the first couple of pages within the thread, as well as their Wiki: https://wiki.gunthy.org/. The idea is to derive the type of features that these bots have/should have, understand that there are multiple algorithms (and how they work), understand the type of parameters that the support (and what they do), see how they react in adverse market conditions (depending on the algorithm used and the set parameters) … and eventually, determining if one considers himself capable of understanding how these bots work, and being on top of their parametrization.

[corel]

Any bot winning in a bullish trend

[SquallLeonhart]

If you whip through the content of the Crypto Trading Bots, you’ll see that every entry on the list has information about the supported platforms, which tend to be one or multiple options amongst Browser, Desktop, iOS and Android.

In order to get a general idea, back in the day, and with no intend to endorse anything here, I took a look through the documentation provided by one of the platforms that seems to have some reputation here, and that has a running live thread: Gunbot.

Now the interesting exercise here is to at least read through the examples and explanations provide over the first couple of pages within the thread, as well as their Wiki: https://wiki.gunthy.org/. The idea is to derive the type of features that these bots have/should have, understand that there are multiple algorithms (and how they work), understand the type of parameters that the support (and what they do), see how they react in adverse market conditions (depending on the algorithm used and the set parameters) … and eventually, determining if one considers himself capable of understanding how these bots work, and being on top of their parametrization.

I have used gunbot probably around the first time it came out to very later stages (haven't used it this year since I just bought and hold so no need for a bot) and I can tell you that it is one of the better ones in the market. It is not my kind of thing to shill about something, so I will say that it is probably the best, and at least best I have ever used but then I would like to talk about what is bad about it, so that it wouldn't be just an idiotic shilling.

I think if you are a person who has no idea about trading, no idea about indicators, if you have zero clue what "bollinger band" type of things mean, what MACD means, basically nothing about trading at all, you will 99% will lose money. Sure gunbot has easier configurations that you can use, but that doesn't mean that you will use them and make money, so you should know a bit more about trading to make profit with gunbot, otherwise it is useless if you are not a trader at all.

[harapan]

I don't have any experience using a trading, maybe you can try the kucoin bot, but I have no idea how to set it  up that's why have never tried using it, and I don't encourage using bots for trading cause no matter how they make it look like, it doesn't bring a guarantee profit and the risk of getting losses trading with a bot that does not have any feelings about your capital is really high, try learning how to trade yourself it's more better than trading with bot.

[RondoAnyar]

even though we use a trading bot, we also need to analyze the parameters of the bot, we can not only rely completely on the bot because errors from bots can definitely occur. the most important thing is our own analysis and our trading skills are the main thing

[XZERO1]

Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!

I haven't used any trading bot personally, but from what I'm hearing from those who did use them I can say that it usually doesn't work as good or even works terrible at time if you 're trading amount is small, but if you're trading with around $100k or more you can make some money out of it since with a good strategy you can make the price or dump in coins/token with less liquidity and slowly sell on top/buy on bottom and rinse and repeat.

You can also trade with lower amounts like $10k using front running bots on decentralized platforms like Uniswap(not going to work for smaller traders because of the ETH network fees currently) and Pancakeswap and get around 1-5% per trade depending on how low the liquidity is and how you configure the trading bot.

[geegaw]

even though we use a trading bot, we also need to analyze the parameters of the bot, we can not only rely completely on the bot because errors from bots can definitely occur. the most important thing is our own analysis and our trading skills are the main thing

It is a mistake to rely on or trust trading bots, although I have very little experience with this method of monetization but in the past, this tool was really not very effective when as you said, parameters are prone to mistakes, good settings can only be effective in a short time. It is simply not that this tool does not work well, it is simply that the investors in this market are too wise in comparison to the parameters, sometimes the mistakes are due to manipulation of the whales and with the automatic setup, we do not have personal analysis then fall into a failure situation

[sana54210]

It is a mistake to rely on or trust trading bots, although I have very little experience with this method of monetization but in the past, this tool was really not very effective when as you said, parameters are prone to mistakes, good settings can only be effective in a short time. It is simply not that this tool does not work well, it is simply that the investors in this market are too wise in comparison to the parameters, sometimes the mistakes are due to manipulation of the whales and with the automatic setup, we do not have personal analysis then fall into a failure situation

It also depends on how good of a trader you are and how frequently you can tweak things. As you said it is a good way to make money in short term, and even that is only if you are a good trader. Which means you have to know what you are doing, you should be making profit trading manually without the need for a bot, you should know how to read the market and act accordingly, and you should be able to use the bot that way so that you could make a profit.

All of these depend on many stuff you are capable of and that is why it is not ideal. Obviously if you can do both of those things, that means you can use it and make a profit, but that means you can make profit anyway, only difference is you can do it short term per day while bot can do it every single minute, that is the only difference. Think about the bot as you yourself trading all the time and you would understand.

[teosanru]

Hi Guys,

i have been in the crypto world for a little bit but not to long- bought first BTC end of 2017 begin 2018 (and some Alts as well) and sat trough the whole bearmarket.
Also have i thrown some money into shitcoin ICOs.

Since this bull market i tried trading a little bit (doing "okay" nothing special but its alright) as i have a job where i work often long and @#%*& underpaid hours i dont have the nerve and time spending my spare time infront of the PC to check the charts and do active trading.


Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!
Or have you maybe some warnings about scams(which bots definitely not to use, or what to look for in a bot to avoid it beeing a scam)

Thanks in advance for the answers!

Kind Regards
AD

Once a very senior trader told me that don't trade using bots until you have created that bot yourself or you know how to create one. You see all the big companies who trade in the stock markets, whom we call the institutional investors use bots to make trades, there is obviously no doubt that at least 50-60% of crypto trading volumes come from trading bots each day. These big institutional investors have a large team of software engineers who design, develop and audit their bot. You will often see huge audits of these bots being undertaken before they are declared fit for trading.

But the problem with bots is that they don't have brains. You on your own have to put a strategy inside the bot and the bot will perform in the way you have told it. Or you will buy the strategy from the person you have brought the bot. In both cases, the problem is you are using third-party software on your valuable account. Exchanges do provide withdrawal restrictions for these bots but they can trade in any way they want.

A Layman like you and me cannot audit a third-party bot in different market conditions on different parameters to ensure they don't hurt your capital also any external help would eventually mean leaking the very main source code of your bot which can be easily manipulated. The external help is pretty costly too. So in Nutshell, I would recommend you to stay away from all kinds of trading bots. They are not for retail traders. But yes if you own have the skillset to create your own bot definitely go and create one and use it. You might find some great value for your bots if it ends up working and profitable.

[Yamifoud]

Since this bull market i tried trading a little bit (doing "okay" nothing special but its alright) as i have a job where i work often long and @#%*& underpaid hours i dont have the nerve and time spending my spare time infront of the PC to check the charts and do active trading.

Trading requires enough time, this is a need for us to analyze the market carefully. But in your situation, that seems not the ideal place for you. And I tell frankly, it only gives you losses if you will continue trading.

Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!
Or have you maybe some warnings about scams(which bots definitely not to use, or what to look for in a bot to avoid it beeing a scam)

Thanks in advance for the answers!

Kind Regards
AD

Trading bots serve to be the alternative way but can't be sure it will help you more as it still needs your time to make it work.
There are a lot of bots you can try (just have a try), but be cautious enough to deal with people offering such tools as we can't deny that many were made to scam people.

[Ararbermas]

Fyi mate, ever since before mostly ppl who use to trade with bots  always end up nothing.. Although there are some legit but the fact is some of them are not reliable to use and can't even make a good outcome.. So probably not a good recommendation..?

For me in my opinion i think much better to trade on your own, but of course for a beginner i highly recommend to learn some stuff about trading so that you know what to do especially if you faced a problem while trading..  And you know what is the good thing of doing trading on your own?  Its because your money is really safe..

[airdata]

For my crypto currency trading i don’t use any Trading Bot, and i don’t know that why i don’t like trading Bot. Also i am not a professional Crypto trader and i invest my fund for Long term. But i see that many Trader always use Trading Bot for better result.             

[Dilerium90]

Hi Guys,

i have been in the crypto world for a little bit but not to long- bought first BTC end of 2017 begin 2018 (and some Alts as well) and sat trough the whole bearmarket.
Also have i thrown some money into shitcoin ICOs.

Since this bull market i tried trading a little bit (doing "okay" nothing special but its alright) as i have a job where i work often long and @#%*& underpaid hours i dont have the nerve and time spending my spare time infront of the PC to check the charts and do active trading.


Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!
Or have you maybe some warnings about scams(which bots definitely not to use, or what to look for in a bot to avoid it beeing a scam)

Thanks in advance for the answers!

Kind Regards
AD

Based on the trading experience that I have, I can conclude that any trading robots don't work in the long run over a long period of time. A robot can perform well in a bull market, but when the market phase changes to sideways or bearish, then the bot will simply start to drain and you will not have time to rebuild it. In my opinion, a bot can be an assistant, but you cannot completely delegate trade to it.

[wxa7115]

Since this bull market i tried trading a little bit (doing "okay" nothing special but its alright) as i have a job where i work often long and @#%*& underpaid hours i dont have the nerve and time spending my spare time infront of the PC to check the charts and do active trading.


Has anyone actually had some good experience with (right set up) trading bots?
If so can you recommend any - that would be nice!
Or have you maybe some warnings about scams(which bots definitely not to use, or what to look for in a bot to avoid it beeing a scam)

Thanks in advance for the answers!

Kind Regards
AD

In my opinion you should not be looking at trading bots to make up for the fact that you do not have the time to trade, instead you should be looking for long term trading or investment strategies.

Bots may seem attractive because it sells the idea of a piece of code that can trade for you all the markets you want all the time, but unless you know how to produce profits on your own then bots are useless, even if a bot comes with a preloaded strategy that beats the markets the more users use the same bot with the same strategy the less profits you will get and then you will be back at square one, so you either learn how to trade the short term yourself and then make your own bot or you learn how to trade the markets for the long term, any other option seems like a waste of time and money.

[sayaya17]

In my opinion you should not be looking at trading bots to make up for the fact that you do not have the time to trade, instead you should be looking for long term trading or investment strategies.

Bots may seem attractive because it sells the idea of a piece of code that can trade for you all the markets you want all the time, but unless you know how to produce profits on your own then bots are useless, even if a bot comes with a preloaded strategy that beats the markets the more users use the same bot with the same strategy the less profits you will get and then you will be back at square one, so you either learn how to trade the short term yourself and then make your own bot or you learn how to trade the markets for the long term, any other option seems like a waste of time and money.

Yes, I agree with your opinion mate, doing long-term trading by using bots may not be very effective for anyone.
So I enjoy trading manually without the bot's help.

It can hone my skills in daily trading. However, for a trader studying manual techniques, it is very important if you
want to seriously nature crypto trading. We can't rely forever on trade bots.

[harizen]

If you want to see discussions related to that, you can spend time reading at these threads:

Trading bot vs. you -> who's better?
BOT TRADING
Trading BOT suggestion
Are you using a trading bot?

After that, you can somehow think about what to do next.

[perfect999]

If you want to see discussions related to that, you can spend time reading at these threads:

Trading bot vs. you -> who's better?
BOT TRADING
Trading BOT suggestion
Are you using a trading bot?

After that, you can somehow think about what to do next.

I am sure that each and every subject we are discussing here with new topic, might have already been discussed here with at least 10+ pages. But, unfortunately no newbie are trying to make use of them but they simply prefer to have their own topic to hear opinion from this community. There could be multiple reasons for that but what I could guess on this is, they might prefer to enlighten themselves with latest news and events as old bots cannot be trusted and reviews on new bots might not available with old topics.

[AakZaki]

There are lots of free trading bots available but with great risks. Free trading bots will only waste your money. I have never come into contact with trading bots because I trade manually using technical and fundamental analysis, because manuals will be more secure compared to having to use bots even though they are premium trading bots.