Experience of using a cryptorobot

[hugeblack]

I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

This may be a mistake that will lead you to losses, making profits does not mean that you need to invest more money, but rather that you try to maintain these profits.
Therefore, try to increase your skill to ensure that you get 25% per month, which is more than excellent and you will become rich in a short time if you maintain it.

Trading bots are an application of ideas and therefore they do not generate money, but rather your ideas who do that and bots turn them into reality and therefore you must make sure that these bots do the following:

 - Place orders correctly.
 - You carry out orders in a timely manner.
 - There is enough liquidity in the platform to not make mistakes.
 - The bot is fast enough to avoid price fluctuations.

[Silberman]

To be honest, I don't find the use of bots useful. It seems to me that there are more important and necessary things for work. For example, experience. For a trader, this is much more important. When I started working with a broker from Amarkets, I paid a lot of attention to working on a demo account.

Bots can work fine and can earn money but to do that you need to be trader and know what are you doing. Having some skills before using a bot is a must. I used a bot for testing half a year ago and it works but you need to know the limits and to have bigger amount of money to make it work.

This is something that quite a significant number of people do not really think about, it would seem as if a bot is the perfect way for newbies to make money from the markets as the work is done by the bot and not by themselves, but if you do not know how to trade then how is it possible for you to know that the success the bot is having is something that can be sustained long term? It is at that time when you need your knowledge and experience as a trader to find the answer, and if you do not have it then you will let your bot to trade blindly for you, which is not really a good idea if you ask me.

[milewilda]

To be honest, I don't find the use of bots useful. It seems to me that there are more important and necessary things for work. For example, experience. For a trader, this is much more important. When I started working with a broker from Amarkets, I paid a lot of attention to working on a demo account.

Bots can work fine and can earn money but to do that you need to be trader and know what are you doing. Having some skills before using a bot is a must. I used a bot for testing half a year ago and it works but you need to know the limits and to have bigger amount of money to make it work.

This is something that quite a significant number of people do not really think about, it would seem as if a bot is the perfect way for newbies to make money from the markets as the work is done by the bot and not by themselves, but if you do not know how to trade then how is it possible for you to know that the success the bot is having is something that can be sustained long term? It is at that time when you need your knowledge and experience as a trader to find the answer, and if you do not have it then you will let your bot to trade blindly for you, which is not really a good idea if you ask me.

We know that robot could neither be that effective or not and due to various conditions and market situation and we know that this doesnt really give out any guarantees or assurance that it could work for longer runs thats why its really necessary that you should learn trading via manually on where it isnt really gives you the knowledge but also it do really enhance your skills which is needed and also bots are editable or could really be changed and if you do have knowledge then you could set up commands according to your likes and thats the advantage if you are aware on what you are doing.

[AicecreaME]

Hi all 

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

If you're really using bot and earning 25% of profits in a month already, lucky you. You didn't even drop the name so I don't really believe on what you've said, also the account is just a newbie. I have friends who used bots but it didn't end up well, so my take on that is using cryptocurrency bots are not really recommended if you're just a newbie trader.

Reading and watching tutorials are much better, in my opinion.

[aditasetia123]

Hi all 

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

[teosanru]

Hi all 

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

[Silberman]

Hi all  

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

I do not think it is a bug, but rather the bots are coded that way, lets take for example the martingale system that is so popular among some gamblers, the martingale system can be attractive for some as it seems foolproof as you get your money back most of the time, but the more you play the higher the chances you eventually lose too many times and lose all your capital, does this sounds familiar? Because that is the way many bots trade, they use a system with a high accuracy and a money management strategy that gets more aggressive the more you lose, until you eventually lose too many trades in a row and then you lose everything as well.

[Fatunad]

Hi all 

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

Nothing beats out if you do really make use of these robot but at the same time you should really know on how to deal up with trading and of course you should be aware and does have the skill
because using up robots without having no knowledge then it wont really be that much effective.Its up to you whether you would really be making use of it for passive type of trading
career but dont expect nor anticipate that it would make money for you on guaranteed manner because thats not how things or reality works.

[awik p]

Hi all 

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

Nothing beats out if you do really make use of these robot but at the same time you should really know on how to deal up with trading and of course you should be aware and does have the skill
because using up robots without having no knowledge then it wont really be that much effective.Its up to you whether you would really be making use of it for passive type of trading
career but dont expect nor anticipate that it would make money for you on guaranteed manner because thats not how things or reality works.

Indeed, people imagine that people will be comfortable using bots, so we don't do anything and then get passive income which is a tantalizing amount. I think the first thought for those who will follow it is like that. but in reality it is not as sweet as we imagine because one day we will experience severe losses, because bots can only work according to orders, while the market is dynamic. therefore if we can master manual trading, then we will understand when the bot can work

[zulfi125]

I think you're using the good bot for trading that's why you make a 25% profit on your investment, I suggest you should withdraw your profit because I have no good experience with the crypto bot, I was used the KUCOIN exchange trading bot and I have lost me all investment, there was no big investment but most of the bot not profitable so you should safe your profit if you made 25% for the crypto bot.

[Issa56]

I think you're using the good bot for trading that's why you make a 25% profit on your investment, I suggest you should withdraw your profit because I have no good experience with the crypto bot, I was used the KUCOIN exchange trading bot and I have lost me all investment, there was no big investment but most of the bot not profitable so you should safe your profit if you made 25% for the crypto bot.

I think is time people stop depending on bots and they should start trading their selfs, your trading bit is giving you 25% profits and you are really happy, but hope you know bots are programed which they can never be 100% accurate which means their will be a day which they will definitely fail and after the bots fail all your money is gone already. So i believe I high time we all learn how to trade ourselves and stop depending on bots.

[death69]

With 25% profit a month, you would probably earn exactly 14.55 times your initial balance after 12 consecutive months, and 211.75 times after 2 years. Do you really believe such a bot can have the ability like that? Trust me, there are really patterns and algorithms we can rely on but in fact, those algos will soon be busted by the Market itself. I do not know why.

For example, years before (2018-2019), I was testing a really awesome Forex trading algorithm that my friends introduced to me. I used a bot and run it with 10 years history log. And surprisingly, the bot still made a profit (about 50% according to the latest year of the year I test, including compound). But what is more surprising, is that the older the year, the more profitable. Some even x15. What I observed myself is that the market adjusts itself to create more "noise" (maybe because more and more people know the algos), which in the future will eventually prevent the algo to make a profit, unless we have to make an adjustment to the algo

So, I believe that unless you are able to trade manually and are fully in control of the bot (and know some sort of creating your own bot with an awesome algorithm), do not give your money to any best-looking-trading-bot-ever.

Cheers 

[teosanru]

Hi all  

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

I do not think it is a bug, but rather the bots are coded that way, lets take for example the martingale system that is so popular among some gamblers, the martingale system can be attractive for some as it seems foolproof as you get your money back most of the time, but the more you play the higher the chances you eventually lose too many times and lose all your capital, does this sounds familiar? Because that is the way many bots trade, they use a system with a high accuracy and a money management strategy that gets more aggressive the more you lose, until you eventually lose too many trades in a row and then you lose everything as well.

Nice example of the martingale system. But I doubt one can code it, bots generally work on mathematics so if you have given it code to react in a particular way in particular condition it always will, so technically not can never be obeying that system, unless obviously the market itself behaves in such a way, but I think this thing can be solved by regularly updating code in your bot based on the changing dynamics of the market. But by the way we are here also not considering the probability of these bots actually being scam in the first place.

[Silberman]

With 25% profit a month, you would probably earn exactly 14.55 times your initial balance after 12 consecutive months, and 211.75 times after 2 years. Do you really believe such a bot can have the ability like that? Trust me, there are really patterns and algorithms we can rely on but in fact, those algos will soon be busted by the Market itself. I do not know why.

For example, years before (2018-2019), I was testing a really awesome Forex trading algorithm that my friends introduced to me. I used a bot and run it with 10 years history log. And surprisingly, the bot still made a profit (about 50% according to the latest year of the year I test, including compound). But what is more surprising, is that the older the year, the more profitable. Some even x15. What I observed myself is that the market adjusts itself to create more "noise" (maybe because more and more people know the algos), which in the future will eventually prevent the algo to make a profit, unless we have to make an adjustment to the algo

So, I believe that unless you are able to trade manually and are fully in control of the bot (and know some sort of creating your own bot with an awesome algorithm), do not give your money to any best-looking-trading-bot-ever.

Cheers 

This is called overfitting, basically it is the process in which a trader designs their trading strategy to perform the best according to the historical data available, this means that the profits you saw early on of 15x in a single year were especially overfitted by the trader in order to maximize a period of incredible volatility in the market, however the problem is that the markets never move exactly the same, so doing something like this will prevent you from obtaining profits in the future.

[tvplus006]

...I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it...

If you already have a proven bot that has brought you 25% profit, you do not need to ask for advice from others, you can make an independent decision. In my experience, I noticed that the bot brings profit in a bull market and, accordingly, it is not effective in a bear market.

[tygeade]

I think you're using the good bot for trading that's why you make a 25% profit on your investment, I suggest you should withdraw your profit because I have no good experience with the crypto bot, I was used the KUCOIN exchange trading bot and I have lost me all investment, there was no big investment but most of the bot not profitable so you should safe your profit if you made 25% for the crypto bot.

I think is time people stop depending on bots and they should start trading their selfs, your trading bit is giving you 25% profits and you are really happy, but hope you know bots are programed which they can never be 100% accurate which means their will be a day which they will definitely fail and after the bots fail all your money is gone already. So i believe I high time we all learn how to trade ourselves and stop depending on bots.

I do not think that people relying on trading bots is a bad thing, it all depends on how you use it and how you could make a profit based on it. I personally do not use one anymore but I remember the period when I used one and it wasn't that bad, it was bad during the bear period, when it was going down the trading bot usually lost more than I would, and that was the reason why I stopped using it.

However, during the bull period when everyone was making money, the trading bot I used made me more money than I could have personally. This is why I believe that it is not really that difficult to use it and could be beneficial for some newbies for sure.

[palle11]

If you want the long story short? You won’t make any money off them. They are typically scams.

If they actually worked the developer would just use it himself instead of giving away for free or a small fee. You would be pretty much in competition and he would make less money, so why give away a strategy that works.

You just gotta learn to trade on your own.

I subscribe to this that you made a nice point. The idea of using bots to pick profit is rare and op has made it look like that easy to make 25% and this may attract others to consider reaching out to Op. I think OP should show proof of his trade history using the bot. A developer will want to keep his bots success to himself not to disclose it because no rich man want to let you have his source of wealth just that easily. If really that OP has made such profit then I wish him good luck but he may not find it easy next try. Advise is to go gradually and don't put all your capital in with the trust of a bot.

[Issa56]

I do not think that people relying on trading bots is a bad thing, it all depends on how you use it and how you could make a profit based on it. I personally do not use one anymore but I remember the period when I used one and it wasn't that bad, it was bad during the bear period, when it was going down the trading bot usually lost more than I would, and that was the reason why I stopped using it.

Most people just depend completely on bot, they don't really want to learn how to trade on their own because they believe the bot will do everything for them, they don't believe bots can fail and they can lose their money. When trading with bots and you are making money, whenever the bot will disappoint, you will endup losing all your profits you have been making. The best thing is just for you toearn how to trade yourself and don't use any bots.

[CaVO32]

I do not think that people relying on trading bots is a bad thing, it all depends on how you use it and how you could make a profit based on it. I personally do not use one anymore but I remember the period when I used one and it wasn't that bad, it was bad during the bear period, when it was going down the trading bot usually lost more than I would, and that was the reason why I stopped using it.

Most people just depend completely on bot, they don't really want to learn how to trade on their own because they believe the bot will do everything for them, they don't believe bots can fail and they can lose their money. When trading with bots and you are making money, whenever the bot will disappoint, you will endup losing all your profits you have been making. The best thing is just for you toearn how to trade yourself and don't use any bots.

Some people are using trading bots because they have no time or not enough time to study the market. Hence, they rely on bots. But it is true, using a bot may not give you the profits that you want in the end. They are just doing their job according to what they are task to do. Sometimes, it depends on how you program them. I have no experience with bots because for me, it is better to learn the market on your own.

[Issa56]

I do not think that people relying on trading bots is a bad thing, it all depends on how you use it and how you could make a profit based on it. I personally do not use one anymore but I remember the period when I used one and it wasn't that bad, it was bad during the bear period, when it was going down the trading bot usually lost more than I would, and that was the reason why I stopped using it.

Most people just depend completely on bot, they don't really want to learn how to trade on their own because they believe the bot will do everything for them, they don't believe bots can fail and they can lose their money. When trading with bots and you are making money, whenever the bot will disappoint, you will endup losing all your profits you have been making. The best thing is just for you toearn how to trade yourself and don't use any bots.

Some people are using trading bots because they have no time or not enough time to study the market. Hence, they rely on bots. But it is true, using a bot may not give you the profits that you want in the end. They are just doing their job according to what they are task to do. Sometimes, it depends on how you program them. I have no experience with bots because for me, it is better to learn the market on your own.

If you really want to be a trader I believe you should create time to study the market, why will I be making money from a place then I won't always create time for it that's bad. If you want to be trading then you should always have time when you will be doing your analysis. Seriously am always discouraging people using cryptobots because I believe it those not really work, if bots are reliable then most of us will have been very rich and we won't disturb ourselves doing analysis.