Experience with Trading Bots

[RealMalatesta]

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.

You tried premium bots? I guess risks may not differ even with premium bots. Against unexpected market volatility, if bots stay calm then we may get chances to escape but most bots go struggling against sudden market conditions and generates inefficient signals which lead to losing trades. But with manual trading, we could easily handle such unexpected market volatility conditions.

I am also in search of good bots which may not get me any big profits but it should not get me any losses; I mean I will use a bot which may generate signal once in a week or month but that should lead to only profits .

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In my experience using trading bots is quite risky...
If you are looking for a free trading bot, there must be a lot of it on the internet but 99% is just a scam. official and paid trading bots do look expensive but are more secure and reliable. buy a trading bot that is guaranteed and has a reputation, do not entrust your asset management to a free bot.

- Trading bots and gambling bots are two relatively well-known forms of crypto, but their extinctions are almost confirmed by brags of value and benefits, their bragging leads them to huge purges, lots of groups created with the aim of destroying such bots, so even if it's a paid or free bot trading system, our participation will very easily become on the radar of mysterious groups. Bots trading programs are very weak, maybe we should have the basic processing and reference more the market with our skills, instead of considering a trading bot.

[Rexler]

In theory trading bot should work well but it's not so easy. You need to be online all that time and follow the charts. With that in mind I prefer doing all myself instead of bots. Everyone has different ways to do it tho.

I thought the advantage of using bots for trading is that you don't have to be online to execute a trade or even follow the chart,anyway I agree every have their own preferences, but personally I dislike bot trading because it doesn't grow my trading knowledge or strategies, I prefer trading on my own so I can try out different strategies, unlike trading with bot, which the bots will use the pre-installed trading strategies and that's risky because the market changes old strategies may not work anymore.

[martina14]

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

I don't use any trading bots, but all I know about this you need money to buy trading bot if I am not mistaken.
And according to what I had read here in the forum in accordance with the feedback of some people who tried to used it,
it is not accurate and there is risk also, especially if your setting is not right something like that.

[dotcoin.info]

Any bot winning in a bullish trend

That's all right. If you are offered a trading bot, the first thing you should do is look at its statistics. In this case, you should look at the statistics not for the current period of the bullish run, but for the time while the market was in a bearish trend. Because now, while the market is growing, it is very easy to trade. But this trend will change sooner or later, and it is with such changes that bots tend to lose most of what they could earn during a positive trend.

[Iceblast]

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 risks and scams.

Thanks in advance for the answers!

Kind Regards
AD

The best and legit trading bot right is the Kucoin bot. It has a DCA and Grid trading which is perfect to newbie traders. It has built in suggested bot setup base on the price history of the coin so you can just use the default setup. So far this is the only trading bot that I know. The rest of the trading bot offered by a random user is most probably a scam bot especially if it is from a newbie or lower rank account.

i want to know if kucoin trading bot is always accurate? Does the Kucoin trading bot have a low risk of error? I am curious about the Kucoin bot, traders always talk about it and I want to be able to know more about the Kucoin bot from experienced professionals

[wxa7115]

Any bot winning in a bullish trend

That's all right. If you are offered a trading bot, the first thing you should do is look at its statistics. In this case, you should look at the statistics not for the current period of the bullish run, but for the time while the market was in a bearish trend. Because now, while the market is growing, it is very easy to trade. But this trend will change sooner or later, and it is with such changes that bots tend to lose most of what they could earn during a positive trend.

This is an interesting take and I agree with it, people concentrate too much on the profits a bot can give during a bull run without really understanding that almost anything and anyone can be in profits during such a massive movement.

The real test for a bot is how do they do when the market is ranging or when it is in a bear market, if the bot can at least breakeven then you could be in the presence of a good trading bot, but most of the time we see those bots give up all the profits they got during the bull market and many times even more than that making it useless as a tool to try to profit from the markets.

[darewaller]

If you are offered a trading bot, the first thing you should do is look at its statistics. In this case, you should look at the statistics not for the current period of the bullish run, but for the time while the market was in a bearish trend. Because now, while the market is growing, it is very easy to trade. But this trend will change sooner or later, and it is with such changes that bots tend to lose most of what they could earn during a positive trend.

When you are confident about making profits in bullish run then what is the need of going for bot to trade with? I mean in a predictable market condition, it is always better to go for manual trading rather than believing into bots. Moreover I'm not ready to believe that bot based trading is profitable in bullish trend. Because, for a preset program whether it will be bullish or bearish, might not have any big differences. So, this must be definitely a misconception about bot trading.

[Yatsan]

I have got some good experience using trading bots but still I would rather do it on my own rather than rely on it for me to be able to grow as a trader. I am just using it sometimes whenever I have a handful of stuffs to get in with. But most of the time I personally get things and work done on my own about trading for I am somehow (not totally) confident on my trading capacity which is why I need to learn more about it by doing my trades on a personal manner.

[Traderbtcc]

I only know about kucoin trading bot because they normally advertise it when you visit their exchange,I don't know any other trading bots cause I don't even like the idea of trading with bots, if you are going into trading for long term I think instead of using this trading bots why not just learn the trading full time, using bots doesn't guarantee you will make automatic profits, you still need to monitor the trades and make good trading strategies which the bot will then automate the whole process, that's why I still prefer manual trading over trading with bots.

[cryptolord2077]

I have dealt with several trading bots in my life. In particular, I would like to note that none of these bots brought me any profit. I dealt directly with automated trading bots that traded on the bitcoin market according to a certain algorithm. All these bots brought money only at the beginning, and only at a time when the market was calm. I want to note that this experience happened to me during the bear market, perhaps now such bots are more accurate and profitable, but then this did not happen. So these bots brought profit for several months and then something called "unforeseen circumstances" happened, they just took and lost most of the money.

This is one good example about real experience in trading bots. And unfortunately, you had a bad one. Never used a trading bot ever since I am into crypto. But maybe, I have time to do on my own. I think it is better for the OP to learn on his own, even allot a little time each day and learn the ropes of crypto trading. In time, he will learn the tricks on this trade and he can use it throughout his trading career in crypto. He can't learn those tricks overnight but patience is the key.

I don't know people who have had a completely positive experience with trading bots. Especially if we are talking about automated bots.
But on the other hand, I have the experience of my friends who have used this kind of bots, and everyone, as one, has this experience - negative.

[suryogandul]

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.

free bot trading does not seem designed to be maximally designed for traders, the bot was created purely not to make people help out in trading. so I think it's fair to put a big risk because we are using a cheap mode and there is no advantage whatsoever, so if you want to use an accurate trading bot, my advice is to use a premium one and from a trusted developer.

[stomachgrowls]

I have dealt with several trading bots in my life. In particular, I would like to note that none of these bots brought me any profit. I dealt directly with automated trading bots that traded on the bitcoin market according to a certain algorithm. All these bots brought money only at the beginning, and only at a time when the market was calm. I want to note that this experience happened to me during the bear market, perhaps now such bots are more accurate and profitable, but then this did not happen. So these bots brought profit for several months and then something called "unforeseen circumstances" happened, they just took and lost most of the money.

This is one good example about real experience in trading bots. And unfortunately, you had a bad one. Never used a trading bot ever since I am into crypto. But maybe, I have time to do on my own. I think it is better for the OP to learn on his own, even allot a little time each day and learn the ropes of crypto trading. In time, he will learn the tricks on this trade and he can use it throughout his trading career in crypto. He can't learn those tricks overnight but patience is the key.

I don't know people who have had a completely positive experience with trading bots. Especially if we are talking about automated bots.
But on the other hand, I have the experience of my friends who have used this kind of bots, and everyone, as one, has this experience - negative.

Actually it could really be on neither side when we do talk about outcomes because it isnt always that negative and mostly those people who are complaining specially if they had lost is that they do believe that bots
could really make out guaranteed money and when reality slaps out into their faces then they got frustrated and say that it doesnt work or garbage.

Honestly, bots are useful if you do know on whats its actual usage or you do know on how to set up things.Dont anticipate for some money making generator which most noobs
do  believe which is really not true.

Basing on my experience about Bots then its useful for automation when you are away from your keyboard or pc.Set settings according to your knowledge and what you do prefer
and let the bot do on what you had mandated or set.

[DigitalFox]

Any recommendation for a bot  for a (more or less) noob in trading? I want to try it to automate my scalping attempts, so far I do it manually but it requires a lot of concentration. I only do this when I have some free tether waiting to enter pairs I'm interested in. Want to make it work while I'm waiting.

[wahyu wida]

before we trade using bots, I think we have to understand manual trading first, so that we can find out when bots are not working properly. for example when there is big news that affects the market, so that our funds are still safe. therefore I don't say bots are bad, but defense is the best way to survive in the trading world

[goldade]

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 risks and scams.

Thanks in advance for the answers!

Kind Regards
AD

The best and legit trading bot right is the Kucoin bot. It has a DCA and Grid trading which is perfect to newbie traders. It has built in suggested bot setup base on the price history of the coin so you can just use the default setup. So far this is the only trading bot that I know. The rest of the trading bot offered by a random user is most probably a scam bot especially if it is from a newbie or lower rank account.

I've always believed all trading bots are scam and if not, mostly don't make profitable trades. I've had my share of experience with some of these bots and I've concluded that the best thing to do is learn trading personally and not depend on some trading bots. Trust me, many of these bots are made to help you make successful trades.
However, I am open to trying things and I guess I'd just try out the Kucoin bot you mentioned above. I hope I'll find it as useful and profitable as you have recommended. 

[jaberwock]

before we trade using bots, I think we have to understand manual trading first, so that we can find out when bots are not working properly. for example when there is big news that affects the market, so that our funds are still safe. therefore I don't say bots are bad, but defense is the best way to survive in the trading world

Manual trading must be a good way to protect our funds in the times of occurrence of any unexpected big news but people are still preferring going for bots trading because they believe they could make passive income by setting up bots. So, traders are having their own reasons for choosing trading bots.

In the past I also have tried trading bots but I tried only free bot (as per my colleague recommendation) which is usually known for less efficient on generating signals.

[Questat]

before we trade using bots, I think we have to understand manual trading first, so that we can find out when bots are not working properly. for example when there is big news that affects the market, so that our funds are still safe. therefore I don't say bots are bad, but defense is the best way to survive in the trading world

Manual trading must be a good way to protect our funds in the times of occurrence of any unexpected big news but people are still preferring going for bots trading because they believe they could make passive income by setting up bots. So, traders are having their own reasons for choosing trading bots.

Apparently, it was their option, and some traders are even satisfied with bots but for some reason also that I never have the interest to use this rather than sticking to manual trading. Because for real, everything that bots do is coming from us, if we fail to send a wrong decision, the bots will still follow it, so this means that the bot is just a clone. What I wanted to see is that the bot will have to do something to correct but that seems impossible since the algorithm is coming from the trader.

[Hamphser]

before we trade using bots, I think we have to understand manual trading first, so that we can find out when bots are not working properly. for example when there is big news that affects the market, so that our funds are still safe. therefore I don't say bots are bad, but defense is the best way to survive in the trading world

Manual trading must be a good way to protect our funds in the times of occurrence of any unexpected big news but people are still preferring going for bots trading because they believe they could make passive income by setting up bots. So, traders are having their own reasons for choosing trading bots.

Apparently, it was their option, and some traders are even satisfied with bots but for some reason also that I never have the interest to use this rather than sticking to manual trading. Because for real, everything that bots do is coming from us, if we fail to send a wrong decision, the bots will still follow it, so this means that the bot is just a clone. What I wanted to see is that the bot will have to do something to correct but that seems impossible since the algorithm is coming from the trader.

You mean self-changing bot according on the market situation? It cant be possible and if there's one then you do really believe that it would just be sell out cheap or can be free?

Bots are for automation and its true that it is only following on whats been set by the trader and would execute those commands no matter neither you are losing or winning.

You would appreciate bots if you do know their actual purpose but if you are hoping for something more then it would really just frustrate you out.

[Alexbenua97]

Never used a trading bot! Because a year ago, when there was a massive collapse of the crypto and stock markets, bots did not save and everything went into a big minus! Therefore, I trade manually without bots! I am responsible for my trade Wink