Crypto Trading Bots

[Finestream]

Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I haven't tried yet to use any bots to automate my trading.
But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss.
I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it.
So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.

Yeah, that all relies upon what we feed them. Trading bots will take action based on our configuration and it never makes any decision unless it was changed,  and this is the reason why if we fail to set it right, that loss is certainly be going to happen. Plus, in times of abrupt change in the market trend, these bots will never make it change as well.
That it finds no wrong but if we are using this tool, see to it that we are in the watchful of the market and so we can make adjustments in the situation where the price trend suddenly changes its momentum.

The end scenario here is, its still you who are controlling the trade. So i think it will be a waste of money if we trust these trading bots when in fact they can't guarantee us that all trades will be profitable. Yes, they may turn us into instant millionaires but that will also depend on how we feed and handle them. Its like training a baby and watching him grow based on how we mold him. If that's the case, i will just be contented on my own trades and focus on how to improve it so as to minimize from having losses.

[JohnBitCo]

Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I haven't tried yet to use any bots to automate my trading.
But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss.
I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it.
So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.

Yeah, that all relies upon what we feed them. Trading bots will take action based on our configuration and it never makes any decision unless it was changed,  and this is the reason why if we fail to set it right, that loss is certainly be going to happen. Plus, in times of abrupt change in the market trend, these bots will never make it change as well.
That it finds no wrong but if we are using this tool, see to it that we are in the watchful of the market and so we can make adjustments in the situation where the price trend suddenly changes its momentum.

The end scenario here is, its still you who are controlling the trade. So i think it will be a waste of money if we trust these trading bots when in fact they can't guarantee us that all trades will be profitable. Yes, they may turn us into instant millionaires but that will also depend on how we feed and handle them. Its like training a baby and watching him grow based on how we mold him. If that's the case, i will just be contented on my own trades and focus on how to improve it so as to minimize from having losses.

Trading bots maybe useful for those newbie traders who have no idea of technical analysis. They may use crypto trading bots to do the trading for them because if they do it themselves they may incur more loss.
But for the experienced traders, trading bots are not that useful because the human can better judge the market as compare to the artificial intelligence.

[AicecreaME]

We all know how volatile the crypto market is especially now. I have heard so much about crypto trading bots and their possibilities of automating the trading process and turning folks into crypto millionaires. For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I've heard about it but never tried it, sounds like using a script to automate your trade but I highly doubt that it's gonna make people millionaires, sounds too good to be true for me. The answer on your questions are already given when you doubt it why you don't see it using by the majority, simply because it's not working. Trading needs to be hands on, because you need to monitor the market as much as possible, you'll need that for your technical analysis to make it profitable as much as possible if you could.

[TheUltraElite]

Trading bots maybe useful for those newbie traders who have no idea of technical analysis. They may use crypto trading bots to do the trading for them because if they do it themselves they may incur more loss. But for the experienced traders, trading bots are not that useful because the human can better judge the market as compare to the artificial intelligence.

Their only use is automation of trades because it is not healthy for a human to stay awake for 24x7 and monitor the markets but let a bot do its job. Sleep is indeed the rest needed for every hardworking trader.

There are bots that can start an algorithm on detection of a specific market trigger preset by the owner, but these are more risky and the human judgement is obviously better here if this is being done by veteran traders. This should not be used by newbie traders because they could get washed away.

Then again there are those newbies who think they can use a bot and become a millionaire because of a false picture painted by some sellers. Nobody can help those people from parting with their money.

[Oilacris]

We all know how volatile the crypto market is especially now. I have heard so much about crypto trading bots and their possibilities of automating the trading process and turning folks into crypto millionaires. For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I've heard about it but never tried it, sounds like using a script to automate your trade but I highly doubt that it's gonna make people millionaires, sounds too good to be true for me. The answer on your questions are already given when you doubt it why you don't see it using by the majority, simply because it's not working. Trading needs to be hands on, because you need to monitor the market as much as possible, you'll need that for your technical analysis to make it profitable as much as possible if you could.

Everything that sounds too good to be true isnt really something you should really be dealing off with and dont easily fall yourself to believe that it could really make you rich just like on what others been

claiming.Bots are for automation nothingless but people do really have those kind of impression that you would make out guaranteed profits on using these.

The only thing that you could rely is only into yourself on which you would really be depending on your own skills and knowledge and nothing beats out when you do
make manual trades.

[rojan]

We all know how volatile the crypto market is especially now. I have heard so much about crypto trading bots and their possibilities of automating the trading process and turning folks into crypto millionaires. For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

Yes the crypto market is in a very bad state now because it is in a much worse market condition than before because now everyone has this problem it is mainly because everyone has to think a lot to trade now.
What I think is to trade is to buy the tokens that will be bought at a lower price and sell at a higher price. I think this is a trade and if all the tokens can be bought at a lower price and sold at a higher price then we will see a better one.  There will be profit and to do this you have to think a lot and watch the market all the time

[rby]

When crypto market started new, the bots were working very well until whales and institutions began to enter trading crypto and begin to change many things that used to work. They change strategies.
Bot is likely configured with one exchange, when you change exchange you need to write another code.
The best thing is to learn to trade yourself

[Sweetbtc]

It is helpful to select a bot that suits your level of trading. They support multiple strategies, integrate social trading to allow buying or use of free third-party signals, and definitely are tried and tested.

[iv4n]

Do you trust it enough to make the right decisions?

It's a bot! The bot will do how you set it up! So what's important is to know how to set it up properly! What people forget is that a bot to work properly even with a solid setup needs a bankroll! Some strategies require a min bankroll to work and be profitable! Quick reminder, the wrong setup can bust your bankroll!
I tried a few trading bots but I didn't like them, I prefer to trade manually! I am more long runner than short, so I don't need some quick response as the bot can provide for a short-run traders!

[lombok]

Do you trust it enough to make the right decisions?

It's a bot! The bot will do how you set it up! So what's important is to know how to set it up properly! What people forget is that a bot to work properly even with a solid setup needs a bankroll! Some strategies require a min bankroll to work and be profitable! Quick reminder, the wrong setup can bust your bankroll!

The bot setup is a bit complicated in my opinion, besides that we also have to know the market conditions when setting up the bot before the bot runs.

bot can provide for a short-run traders!

Usually bots are used when market conditions are sideways. I've also used a trading bot, I also don't run a trading bot 24 hours a day. I use bots only at certain moments. Mostly manual trading.

If trading bots are as good as they claim, why are folks not using them as much as they should?

That's marketing. They offer an automated trading product that will make someone a crypto millionaire using bot.
In my experience, bots can also incur losses if market volatility increases significantly.

[lepbagong]

....
If trading bots are as good as they claim, why are folks not using them as much as they should?

This is already a smart answer and you need to pay attention. why do they sell it when indeed what it makes produces something for them? obviously no one will provide correct and accurate analysis, only to benefit others because it is certain that the profits to be obtained will be eroded alias divided by many who use it.

but we can not blame because there are still many people who do not believe in its capabilities and still trust bots. so it's not surprising that we see that there are still many who use it and some are indeed possible when using it to get a profit, but do they also inform you when you lose?

[TheUltraElite]

It is helpful to select a bot that suits your level of trading. They support multiple strategies, integrate social trading to allow buying or use of free third-party signals, and definitely are tried and tested.

Logically speaking using a social media or third party signals means you are following their pump and dump schemes. Although you might be able to profit from that but this is not suggested to any serious trader.

There are bots available but the basis remains the same. It follows the programs ordered by the owner of the bot. This will not change based on social media calls or whatever which are often not reliable.

You would end up wasting time in fake signals and not legit orders.

Following the pump and dump is also riskier than the traditional trading practices.

We can't say the accuracy of any trading bot, it' still depend from how you choose the path that you'll going to take.

It's a tough call when using bot, there are advantages and disadvantages, it's on your own decision making to entrust your investment with bot or on your own system.

I prefer giving the human touch because it is important to keep the trader mentally stable regarding trading. Knowing that they developed the bot on their own is a good thing, leaves out all chances of suspicion. But then this is trading and it is a speculative market. No results are guaranteed.

[Pamadar]

It is helpful to select a bot that suits your level of trading. They support multiple strategies, integrate social trading to allow buying or use of free third-party signals, and definitely are tried and tested.

Logically speaking using a social media or third party signals means you are following their pump and dump schemes. Although you might be able to profit from that but this is not suggested to any serious trader.

There are bots available but the basis remains the same. It follows th programs ordered by the owner of the bot. This will not change based on social media calls or whatever which are often not reliable.

You would end up wasting time in fake signals and not legit orders.

Following the pump and dump is also riskier than the traditional trading practices.

We can't say the accuracy of any trading bot, it' still depend from how you choose the path that you'll going to take.

It's a tough call when using bot, there are advantages and disadvantages, it's on your own decision making to entrust
your investment with bot or on your own system.

[NicNacCoin]

We have noticed on many exchange side that it is being controlled by bots.All the exchange sites that are regulated by the bot do not get any benefit from trading from those exchange sides.It has been seen that bots are trading all time arbitrarily. No investor will ever trade on all these exchanges.So we want cryptocurrency trading centers not to be bots.

[TheEconomists]

It is helpful to select a bot that suits your level of trading. They support multiple strategies, integrate social trading to allow buying or use of free third-party signals, and definitely are tried and tested.

I wonder if people are really making money from trading bots as compared to those who really trade on their own without any help from bot. One will have to be paying a monthly subscription for the owners while there are some months you will be running negative particularly when there are fundamental issue.

[bubidan.id]

I've used trading bots, but I'm not completely sure about the bots I use, because bots don't have the psychology or feelings of humans in general and we don't know what bot program is made of, so we still have to control it. There are many considerations that must be made if you want to use a bot for trading, we must know the win rate of the bot, secondly, we must know the origin of the bot, where and for what reason the bot was created, adjust our balance to what the bot recommends, must know the bot system, what the mechanism is like, paid or profit sharing, never use a free bot, because it is very dangerous, it could be just a trial product.

[TheUltraElite]

I wonder if people are really making money from trading bots as compared to those who really trade on their own without any help from bot. One will have to be paying a monthly subscription for the owners while there are some months you will be running negative particularly when there are fundamental issue.

There can be two options here,
1. Bots that you have developed on your own - you can program the bot yourself and make sure it runs properly.
2. Buying a bot - you have to trust and pay the developer. There are many devs out there with reputation. But this is a compromise they need to make.

For a speculative market the seond options leads to a lot of mental stress. The first option is also not free of mental stress but lower.

Using these bots will never guarantee your profit but only make sure you continue reading during sleep and at times when you are not in front of the device. Nothing more than that should be expected of a bot.

[shawon01]

I've never used a bot down here that I've done so far from here I don't think the bot can work here alone but the bot ray is still programming and you have to get an order to sell or buy coins like this so if you are still pre-trading  If you do not understand then it seems that using bot is not the right choice. If you do not have time then it would be more suitable to use but market conditions you can use it and take advantage from here.

[Rehan Zakir]

I want to describe you about the working behind the crypto trading bots that how these bots works.
Basically this is all because of artificial intelligence. In this way, we train the bot from the trading style of some successful traders. And after that machine takes the decision on the basis of information that he gathers. A machine takes the decision itself and sometimes a professional trader manage the machine. This is a whole automatic process. Bots have some subscription fees for their services.

[smartaction]

bot will just work for buy and sell but you have to set buying and selling price yourself then bot will work as your command. if you trade annually then you have to spend time on it but if you set bot as your buy and selling price then bot will do it automatically. bot just save your time . bot is depended in your command. that’s it