Trading bots... do they work?

[Dzwaafu11]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

I don’t use trading bots, but from the look of things, they work sometimes and generate profits for the user, but based on how professionally you are, it is how you set it up that will make it work for you, which means if you are able to set it up well and you know how to use it, it will work for you effectively, but that doesn’t mean you won't lose because even those who use their brains still lose. I believe using bots will also cause you to lose, but it will be limited. And again, trading bots can never be used by beginners who just join trading because they will lack the knowledge of how they will work for them effectively, which will cause them to lose their funds. And trading bots can also malfunction sometimes, so I think while using them, the user should be careful.

[TheUltraElite]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

They work as they are intended to work, how they are programmed to work. They are not made to make you rich in the click of a button, if that was the case, people would not be working their rear off but buying a bot.

Plug in whatever indicators you want to run and the bot will trade as you have asked it too, meaning it will follow your commands "loyally" but this and a guaranteed profit are two different thing. You might want to brush up on your own trading skills before trying to automate it with the help of a bot.

Remember the phrase - you are only automating your trades through the bot.

[Jody.Drummer]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

I don’t use trading bots, but from the look of things, they work sometimes and generate profits for the user, but based on how professionally you are, it is how you set it up that will make it work for you, which means if you are able to set it up well and you know how to use it, it will work for you effectively, but that doesn’t mean you won't lose because even those who use their brains still lose. I believe using bots will also cause you to lose, but it will be limited. And again, trading bots can never be used by beginners who just join trading because they will lack the knowledge of how they will work for them effectively, which will cause them to lose their funds. And trading bots can also malfunction sometimes, so I think while using them, the user should be careful.

Yes, that's right, the results of the work of the trading bot also return to us personally who set it up, if we are a trader who can be said to be quite good at knowledge in trading then the trading bot system can certainly provide something that is at least close to our expectations such as daily or monthly targets maybe. But yes this is quite interesting to make an alternative, because traders do not have to always be in the market to trade but they can simply set the system in the bot according to their wishes and they can go after setting it up. I think this is quite beneficial to save their time.

Well that's true too, for those beginners who have just come in should not choose the trading bot option, besides they do not have deep knowledge in trading I think they also will not know what a trading bot is and how to operate it, so this is like slowing down their development, it is better for you to learn according to your plan and gradually about everything here. Don't touch trading bots yet because you will only get confused when you see them. But yes you are right, even though it looks like it is very helpful but still professional traders must be careful because the name of the system can be unexpectedly erroneous.

[Lorence.xD]

If it's a bot that could guide you for newbies in some exchanges its pros and cons is probably the accuracy as if it gives a right and wrong results. Use bots if you have enough knowledge to set it up on how you trade but doesn't mean it would always gives you profit. But if it's a third party bot that you need to install saying that it could give you passive profits, for sure it's a scam. Some of them would literally give you profits for starters but in the long run it would ask for you money as subscription for you to extend the bot service. By simply this reason it would be better to rely on your brain and intuition rather than an AI.

[tjtonmoy]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

Pros: You can teach the bot what you know. It will work based on an algorithm so there will be no human error although if you don't make any mistakes while setting up the program. It can save your time, and work 24/7 if you program it like that. It is automated so it will only take a few maintenance every now and then. You won't have to sit and work all the time. Because the bot will do it for you.

Cons: It is programmable and you need to program it. If you don't know how to do it, then it's not the best choice for you. As I mentioned in the pros, if you make mistakes while programming it, it will act according to that making that mistake. If you are unable to program it, then you can not use it. And if you use other bots not made by you, there's always a chance that it may not work properly and could be a scam. Lastly, as it will work 24/7 or based on your scheduled time, in that time, the market could change and you may need to change your strategy. But the bot will continue to do the same work with the previous strategy which may not work thus making you a loss.

So there are more cons than pros to trading bots.

But they do work. It depends on how you program it. If you know what you are doing, then it will work. Otherwise, you are better off without it.

[JunaidAzizi]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Well, I am not an active user of trading bots but I did some research on it. Basically, trading bots are used for the purpose that a person can't look at the screen every time and look at the balance, and for that, he uses trading bots for it. Here are some pros and cons of trading bots is below.

Pros.
Trading bots can automate the trading process which can save time and reduce human errors.
It can speed up the trades which will be beneficial in the volatile market.
Trading bots analyze the market and according to it push the trades that make more profits than humans.
The boys are available for 24 hours which is also profitable.

Cons.
The bots are complex and without any technical information, you can't set it up.
Bots are more risky than humans.
Bots depend on correct market data if a small change occurs then it may not work properly.
The bots are making more mistakes which can lead to loss of your money.

Trading bots are a good tool but if you are using it then be aware of its risk and also DYOR for finding the best bots that have a good track record, because it is very risky to use it.

[Mahanton]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

I don’t use trading bots, but from the look of things, they work sometimes and generate profits for the user, but based on how professionally you are, it is how you set it up that will make it work for you, which means if you are able to set it up well and you know how to use it, it will work for you effectively, but that doesn’t mean you won't lose because even those who use their brains still lose. I believe using bots will also cause you to lose, but it will be limited. And again, trading bots can never be used by beginners who just join trading because they will lack the knowledge of how they will work for them effectively, which will cause them to lose their funds. And trading bots can also malfunction sometimes, so I think while using them, the user should be careful.

Yes, that's right, the results of the work of the trading bot also return to us personally who set it up, if we are a trader who can be said to be quite good at knowledge in trading then the trading bot system can certainly provide something that is at least close to our expectations such as daily or monthly targets maybe. But yes this is quite interesting to make an alternative, because traders do not have to always be in the market to trade but they can simply set the system in the bot according to their wishes and they can go after setting it up. I think this is quite beneficial to save their time.

Well that's true too, for those beginners who have just come in should not choose the trading bot option, besides they do not have deep knowledge in trading I think they also will not know what a trading bot is and how to operate it, so this is like slowing down their development, it is better for you to learn according to your plan and gradually about everything here. Don't touch trading bots yet because you will only get confused when you see them. But yes you are right, even though it looks like it is very helpful but still professional traders must be careful because the name of the system can be unexpectedly erroneous.

Yes, it would really be entirely be depending on how someone do able to set it up. There are bots which are already set-up and its just really that ready for you to make use. Then lets say that you would really be
tending to use one but you dont have the knowledge on what it is or what are the corresponding methods that its been using? So it would really be pointless for you to make use if you dont have the idea on what it is.
The most common impression for noobs that trading bots are things that could bring some money or would automatically that brings profits without doing something.Yes, it could but it would be still affected by several main factors on which it would really be that affected by volatility of course just like on manual trades.This is really just that you are executing those trading system on automated way and it does really still required or need up that someones knowledge about on what are the things that he would really be needing to set up for the bot to follow according into those instructions that had been set. Newbie does have different approach on trading
bots on which they do really believe that it could really make things easier for them to make money buts it not really how the reality works.

[Japinat]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading bots are actually working but if ask if they can be reliable and sustainable, I don’t think they are. They are just robots that uses a computer program which at some point work, and fail on the other hand. So it’s  actually not perfect when it comes to trading performance that’s why most of the professional traders still chose to trade using their own experience and skills in trading, at least they can lessen the risk somehow, and can expect bigger assurance of a successful trading.

[macson]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

remember that nothing man-made is perfect including trading bots, i have used trading bots several times but have stopped using them because before that i felt dependent on these trading bots, even though my emotions were good when using trading bots but the trading results were not satisfactory for me, trading based on your own will indeed take a lot of time, but when you get through every problem in trading one by one, you will never depend on other people especially trading bots.

[Dr.Bitcoin_Strange]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading bots are working and I think not smarter than human, and only a few traders are probably using them. Trading bots will become popular if it has been proven beyond reasonable doubt that they are the best at conducting and concluding successful and profitable trades. We have a lot of traders but few observations about traders, I can say that the number of traders using bots is very minimal. There was this bot I tried to use on Kucoin last year that can help you do the DCA strategy and can also sell. Depending on the price, you can set it to buy or sell. Well, that could only help in those aspects because you can just automate it and relax while the bot assists you in buying and selling. But when referring to real trading, where you have to analyze the market before buying and also know when to sell, I don't think bot is better than traders.

[el kaka22]

Too many people sell these bots, which means that too many of them will say that it works, but they do have a thing out of it and that is why they say it. It is obvious that a salesman will always say that their product is the greatest or they may even undersell it to make you want it even more, things like "I know a lot of people who made a ton of money from it and got rich, but there were silly people who lost as well, I do not know which one you will be" type of thing, I have seen it, I have made it to be fair.

So that is why the true answer is that unless you are some amazing trader then you aren't making a profit from this. Just stay away from it as much as you possibly could and then the return will be better.

[Fivestar4everMVP]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Well, I am no longer using trading bots but I've used it before, and I don't know what the experiences of other users were, but honestly, it was a nice experience for me, I still find me trading for myself more profitable for me than using bots..

I understand that some programmers can build trading bots for themselves which they are customize to their own test, but I am not a programer, so I had to depend on bots built by the exchange I was trading on themselves, that was kucoin, I used the bot for a couple of weeks, made some profits , also made loses, but at the end of like 2 months of using the bot for trading, I sat down to calculate all my profit and loses, and I realized that I've lost more than I've gained, I just had to turn off the bot and stop using it.

[Patrol69]

Trading bots never guarantee you profit, trading with the help of trading bots may give you profit for a short period of time but trading bots never guarantee you profit for all time. In the case of trading, the bot usually works on a specific system, outside of the specific system it will never be able to do anything on its own, so it is better not to directly rely on the trading bot. 
When the trading bot brings you profit once, you will be more dependent on the trading bot, as a result of which later you will trade the bot with more money, but at that time it will be seen that you have lost a lot of money by trading. 

The best thing is to depend on yourself instead of depending on trading bots, that is, try to gain experience in trading yourself. Hope your experience will bring you profit.

[HONDACD125]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading bots are a good option especially for those who do not know how to trade. Helpful for those who are new to the market. To trade you must know the entry point and exit point. You should know about charts. Knowing about indicators and tools is essential. Then you will know when to enter the market and when to exit the market.

You don't need all these things in trading bots, that's why trading bots are becoming more and more popular, because it makes it easy for newbies. Trading bots play a great role especially in crypto currencies where prices tend to move sideways. That is, the price moves up and down between a certain low point and a certain high point. .here grid bot trading is very profitable. Even if the price of crypto currency is increasing continuously, if you do grid bot trading, you can get good profit.However, you should choose a crypto currency that is moving up and down within a certain range.

[Kasabus]

Too many people sell these bots, which means that too many of them will say that it works, but they do have a thing out of it and that is why they say it. It is obvious that a salesman will always say that their product is the greatest or they may even undersell it to make you want it even more, things like "I know a lot of people who made a ton of money from it and got rich, but there were silly people who lost as well, I do not know which one you will be" type of thing, I have seen it, I have made it to be fair.

So that is why the true answer is that unless you are some amazing trader then you aren't making a profit from this. Just stay away from it as much as you possibly could and then the return will be better.

Trading bots may actually work but it cannot give you guarantees consistent profitability. Because if they do, then people would not be selling these bots anymore as they could have gained more advantage on it if they will use them personally. However, the reality is successful trading does not rely on these automated trading bots. It’s on the trader’s abilities and skills that made the trades becoming more promising to succeed and make decent profits.

[Aanuoluwatofunmi]

Trading bots never guarantee you profit, trading with the help of trading bots may give you profit for a short period of time but trading bots never guarantee you profit for all time

Why are people always running after the use of trading bot then, is it that they are never been aware of the risk that involves in using it or maybe they feels too lazy to start to learn about trading when the trading bot could actually perform the tasks for them, am not sure if it actually pays considering the rate you buy the trading bit and the duration it worked for you before you realized it's no more effective.

[Sanitough]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading success is never measured on how you rely most often to trading bots or other trading signals group, because in reality your only self is the one reliable to make you successful. Professional traders have work hard to make them well experienced and well skilled in trading, and not because they have to rely for any automated trading bots. Though they work at times, but I don’t see them worth our time and money.

[Oilacris]

Trading bots never guarantee you profit, trading with the help of trading bots may give you profit for a short period of time but trading bots never guarantee you profit for all time. In the case of trading, the bot usually works on a specific system, outside of the specific system it will never be able to do anything on its own, so it is better not to directly rely on the trading bot. 
When the trading bot brings you profit once, you will be more dependent on the trading bot, as a result of which later you will trade the bot with more money, but at that time it will be seen that you have lost a lot of money by trading. 

The best thing is to depend on yourself instead of depending on trading bots, that is, try to gain experience in trading yourself. Hope your experience will bring you profit.

It was never been made for that kind of purpose or intent, it is really just that on peoples mind and impression on why trading bots does have that kind of reputation or something that really attached

out with that kind of belief that this is something that could bring out some sure profits but of course these kind of mindset do came from into those newbies or who do have recently jumped into this market on where they arent really that minding about the real deal about on things specially on a speculative market where prices could shoot up or down randomly. Trading bots are simply the tools
which you could really make use to automate your trading indicators or analysis which would trigger out basing on the settings that you had inputted. If you dont have the idea on how these bots
should be run or its settings then it would be pointless on making use of it.

People specially those noobs should really be removing the idea that these tools could bring them easy profits or sure money.This isnt how the reality works which you would really be still needing your
skills and knowledge for you to be set-up on those commands that would be inputted on a bot so that whenever it do hit up that particular condition then it would really be moving its own
automatically which it is really that less hassle i should say.

[mvdheuvel1983]

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading bots work. If they didn't these big centralized exchanges won't incorporate it into their system. Binance have a trading bot and others.
Trading bots is not for everyone. You must be an experienced trader and know your way around it. Bots are just machines and like other machines, they lack the trader psychology. If I were to choose between trading bots and copy trading, I'll choose copy trading for obvious reasons.

[Yamifoud]

The results matter on your capabilities as well. Even some users will say "that" it works with them but can't be sure that it works on your side knowing that it is programmable and you are the one who does or might hire someone. And the question is if you are capable enough. If not, you better help yourself to learn more by not relying upon others, as your experience will be your asset and a tool for your success, not these trading bots.

But, in order for you to have an idea of what is trading bots are all about, I encourage you to just try and evaluate results. Then that was the time you could tell by yourself.