Trading bots... do they work?

[Litzki1990]

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

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[Dunamisx]

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

Trading bit is just a perfect definition to saying that i don't have time to learn how to trade and i want a bot to do that for me while a sit down and make money from it without much cause for alarm, if this had been the real and actual fate of using a trading bot then i see no reason why everyone into trading will not embark in using one, i can see that some people have once make use of a bot and later see there's no profit in it before changing their decision to doing it all alone, now they will have to start all over, let's try as much as possible to see that we know things for real and do them by ourselves without depending on someone or something in doing them for us because nothing of such will last long except we are the source to doing it.

[bayu7adi]

I've used it once, utilizing the Binance API for the purpose. It's possible that each bot operates differently, but I'll attempt to elucidate the bot I once employed.

So, there was an individual who claimed to be a cryptocurrency expert. This person had a technique for copy trading that's somewhat intricate to explain. In essence, they sold a trading bot, promising profits, which, in reality, merely copied trades from a master account held by the bot's seller.

I purchased this bot and experimented with it using a modest sum. The trading history on my Binance account indeed confirmed that when I wasn't actively monitoring the screen, several buy and sell transactions occurred, resulting in minimal profit margins. If aggregated, I could potentially achieve daily gains of only +1% to +3%.

For specific reasons, I decided to discontinue my subscription to the bot. One of my concerns was the potential vulnerability of my balance to unexpected breaches when depositing larger sums.

The bot functions effectively, but as an asset owner, I fear undesirable occurrences in the future.

[Dickiy]

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

Yes that's right, trading bots can indeed help but I will say that it will not be completely helpful, every system created by humans must have times when there are errors and other disturbances and obviously it is very likely to eliminate your balance with a blink of an eye without you realizing it. And also besides that maybe I will say that it is only for people who are lazy, do not want to learn and process like traders in general. Trading bots can be an option but it is only for certain times, such as for example you have to keep looking for daily targets but you don't have time to do it because maybe there are other needs, well then you can use it, and I think that's the real use for trading bots.

Because honestly I'm worried that people, especially novice traders, they can feel at ease in their trading activities with this bot, although it may be true that they will not fully know how to run this bot but maybe they will do various ways to learn the bot and that can make them not interested in learning the real science of trading because with only bots they can also benefit there, and indirectly they have made themselves not develop because of that wrong mindset. I think that's not a good option and it's better for them to do it themselves even though it's quite difficult, but you have to believe that you can.

[Bushdark]

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

There is nothing wrong in taking short cut if we really know what we are doing and how to position our trades. There is nothing wrong using bots to trade if the bot is absolutely profitable but it is compulsory for how to know how to trade so that we can predict the market along the way. There are bots that is very profitable if we know how to position our trades and utilize the bot to trade in the direction that we have programed the market to go. There are bots that giveore reasonable profits than qw ourselves trading in the market if we don't trade in the direction of the market.

[Dr.Bitcoin_Strange]

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.

You are right, @Sanitough; I don't even believe that any professional trader is relying on trading bots or signal channels; it's usually newbies or beginners that are mostly relying on those bots, which doesn't guarantee a very successful trade. In fact, trading signal groups are full of scams, and whoever is relying on them wouldn't waste time blowing their account. Well, I think there are just some bots that the trader can automate to automatically buy and sell coins at the price that they have set. That can be a bit helpful in the sense that you don't need to stay up monitoring the market manually, but the bot can buy low (as you've set it) and sell high (as you've set it too), which can be done repeatedly.

[stomachgrowls]

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

There is nothing wrong in taking short cut if we really know what we are doing and how to position our trades. There is nothing wrong using bots to trade if the bot is absolutely profitable but it is compulsory for how to know how to trade so that we can predict the market along the way. There are bots that is very profitable if we know how to position our trades and utilize the bot to trade in the direction that we have programed the market to go. There are bots that giveore reasonable profits than qw ourselves trading in the market if we don't trade in the direction of the market.

Using bot doesnt mean that it would be profitable which this is really always the main misconception of people on which it is really that very wrong on having this kind of belief.Trading bots are tools which it do automates out

those trading methods or analysis on which means that it could always be in line with someones knowledge about trading. Some though have already set up which you could make use but if you do have that zero knowledge on what it is, then it would really be pointless or useless if you dont have that kind of knowledge and this is why that personal awareness and learning would really be that relevant when it comes to this. Those things do work? Yes it does but it wont really be making out assurance that those things will really ensure profitability and just like been said that this do only automates trades and not something that makes guarantees.

You would really be changing up these impressions on the time that you would really be able to have that actual experience on how this market works and how these trading bots would really be that
relevant on your trading path or career. You would be finding that it would be useful if you are a type of trader who dont really love on spending your time in front of your pc.

[Viscore]

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 can be trusted at some point since they aim to give its users the best result possible. However, since the market is way too unpredictable because of its high volatility, even trading bots cannot give us guarantee that it can correctly predict the market future’s behavior. That is the reason why it’s always safer to trade using our own understanding and skills with crypto trading, and not to rely on third party trading bots as they can’t simply be like a human intellect.

[Rengga Jati]

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

If it is a free trading bot, you should not expect too much to consistently get profits after setting up the trading bots. Because whatever is free, it is likely that it will not work 100% and consistently in the future. Maybe it will work several times, but of course with settings and also our astuteness in reading the market and its potential.

However, if it is a paid one and has good capabilities and is reputable, there is a possibility that these trading bots will help you effectively. However, this is just help, it doesn't mean you can let him do 100% of your trading work. Setting trading bots also requires knowledge, but before that, you also need to have the basics of trading in crypto well and wisely, including various risk management and funding. In this case, it cannot be 100% certain whether paid trading bots will really effectively and efficiently help your work. But at least, it will be better than the free one. It's just a matter of how you can optimize it, with a few notes, and that doesn't mean this is an easy thing to take profits from.

[Latviand]

It depends and I think everyone will agree with me saying that, I believe that bots work depending on how efficient and competent the person that will program the bot will, think of scientific calculator, at the hands of a normal student, they will only be able to access functions that is easily presented on that calculator but if that calculator is on the hands of say a mathematician or an engineer, they will be able to use the most out of it because they know the ways to use it and how to navigate the other functions so it's the same thing with bots.

[Out of mind]

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.

It is possible to make profit using trading bots, but in most cases we can see that the possibility of loss is high. Many exchanges have such bot systems and people benefit from trading from there. however, if you are a wise person then never use bots to trade like this, rather you use your knowledge. A wise person will never adopt such strategies, rather he will adopt his own strategies so that he can become a better successful trader in the future. That's why I think I will never use a trading bot because there is a lot of difficulty because we will not have the knowledge when we trade elsewhere and there is a possibility of losing our money. If we trade at the expense of our own knowledge and skills in the field of advantage, we will surely gain advantage in the future without any difficulty.

[wxa7115]

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.

They do not work, so there is barely anyone using them as they had to discover firsthand that was the case, but for anyone that uses their common sense it is not difficult to understand why they cannot work, at least the ones being offered for sale.

If you had a money printing machine that you could use legally would you share it with anyone else? I know I wont and I am sure I am not alone on this, so no one will ever share a working trading bot which can make profits regardless of any information you may read about this online.

[KingsDen]

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.

Some bots are really working that you can gain profit from your trades. If you use bot in trading, you don't have to spend time to analyze the market to be able to trade, the bot will do it for you. Trading bot has no emotion since most traders fail because of their emotions. So if you are having a hard time to control your emotions, this is good for you — I think these are the pros. The cons of using bot is that you can't guarantee that in the long run you will become profitable since bot rely only on the program not on the market movement.

I have heard the idea of bot as a computer program that has understood the nature of the market and will therefore not fail to deliver profits. But in a real sense that is not what bots stand for. I thinks bots were developed to aid humans in trading, such that when you have mastered your strategies over time and trusted them, you may decide to write a computer program of your trusted strategy to keep trading for you for the few time you will be off the screen.
But many people have misunderstood this and employed bots for outright trading business even when the people behind the bot don't know how to trade. If you are doing this, losses are inevitable. I am speaking from experience. For you to profit with both, you must understand the market and how to maneuver the bot

[alistera]

Bots only work if they use a historical pricing model, which almost none do because you need special code to process the data volumes, even if you find one which is what I use you still have to maintain the exchange connectors, the data feeds, monitor which pairs are the most profitable, move balances between pairs, it’s a job but it you get it right fully worthwhile.

[carlfebz2]

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.

Some bots are really working that you can gain profit from your trades. If you use bot in trading, you don't have to spend time to analyze the market to be able to trade, the bot will do it for you. Trading bot has no emotion since most traders fail because of their emotions. So if you are having a hard time to control your emotions, this is good for you — I think these are the pros. The cons of using bot is that you can't guarantee that in the long run you will become profitable since bot rely only on the program not on the market movement.

I have heard the idea of bot as a computer program that has understood the nature of the market and will therefore not fail to deliver profits. But in a real sense that is not what bots stand for. I thinks bots were developed to aid humans in trading, such that when you have mastered your strategies over time and trusted them, you may decide to write a computer program of your trusted strategy to keep trading for you for the few time you will be off the screen.
But many people have misunderstood this and employed bots for outright trading business even when the people behind the bot don't know how to trade. If you are doing this, losses are inevitable. I am speaking from experience. For you to profit with both, you must understand the market and how to maneuver the bot

This is what newbie do really believe on on which they do really sees those bots are really the ones who do help out on making profits to those people who do make use of them which it is really that very wrong kind

of approach on which bots are really for automation just like on what most people been saying about.It do really just turns out that there were people who are really that believing into those false information
until they would really be able to prove out for themselves on whats the reality of it.  Trading bots do really give that convenience for those who are really making use of it and just like me
on which it do really loves to make use of trading bot because it do really follows on what you are setting into those commands.

You could freely go out and wont really be checking your trading open positions because the bot is doing that for you and thats why
it is really that a great convenience for these tools to be created because of such function.

[YOSHIE]

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.

As far as I know, there are many ways that everyone involved in the crypto market wants to trade, one of which is trading bots or often called trading robots, in fact the bot method has advantages and disadvantages in the trading bot method.

I have done the trading bot feature, but the results I did were much better with the spot, margin and futures methods, but of the three features the one that was more profitable for me was spot, the first comparison of trading bots: The bot feature is more expensive than spot, and in my opinion bots are not suitable for use in the crypto market, because as far as I know the crypto market moves fluctuatingly, where crypto price changes from the upward and downward side are based on graphical movements, bots do not work well and if users use trading bots they must have skills and be professional, especially for beginners, this is very risky.

For this reason, trading bots are not as easy as we imagine, there are frequencies that must be understood before doing it to achieve maximum results, otherwise it will bring losses to those who use the bot feature.

[wxa7115]

I have heard the idea of bot as a computer program that has understood the nature of the market and will therefore not fail to deliver profits. But in a real sense that is not what bots stand for. I thinks bots were developed to aid humans in trading, such that when you have mastered your strategies over time and trusted them, you may decide to write a computer program of your trusted strategy to keep trading for you for the few time you will be off the screen.
But many people have misunderstood this and employed bots for outright trading business even when the people behind the bot don't know how to trade. If you are doing this, losses are inevitable. I am speaking from experience. For you to profit with both, you must understand the market and how to maneuver the bot

And that is the correct way to use a bot, newbies believe they can simply buy a piece of code, run it and enjoy the profits, but such a simple bot cannot exist, as if it did then the person selling such bot will be giving away the opportunity to make millions just to make a few dollars.

So anyone that wants a bot to trade on their place needs to learn how to trade on their own, they also need to learn how to code and finally they need to express their strategy in such a way that the computer is able to take the same decisions they would have taken, not an easy task if you ask me.

[gunhell16]

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.

Looking for a trading bot to trade with? Why trading bots? Why would you use it when you can trade without having to pay? Unlike the trading bot, you have to pay just to use it. Then another thing I know is that it's better to use copy trading compared to that dude.

Have you tried or heard of copy trading? You can do research or find out on Google Search if you want. I hope you don't waste your money on the trading bot; even though it's your money, it's just a reminder to me.

But believe me, it is better to do spot trading, especially if you are a beginner in this industry. This is a better practice than a trading bot.

[Lakai01]

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

If it is a free trading bot, you should not expect too much to consistently get profits after setting up the trading bots. Because whatever is free, it is likely that it will not work 100% and consistently in the future.
-snip-

As someone who uses a lot of open source (and 100% free) software both privately and professionally, I have to strongly disagree here. There are also enough examples from real life where open source and freely available software works much better than paid versions.


Regarding the question of the OP ... you can't expect a trading bot to magically start making money for you. A trading bot executes your given strategy, if it is bad, the results will be bad too. If your strategy works well in a certain scenario, the trading bot will also work well.

[BitcoinTurk]

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.

I definitely don't use a trading bots because I tried it once before and unfortunately I learned that it didn't really provide profits. Although there are various trading bots and each of them is of better quality than the others unfortunately it isn't possible to say that none of them work perfectly. The trading bot I used made many erroneous transactions, entering SL and TP orders at values ​​like 0.02% causing many positions to be closed immediately when opened and most importantly it was trading between stable cryptocurrency pairs in case the transaction volume increased between them. In addition, during certain periods these trading bots were opening reverse transactions due to the transaction volume in many cryptocurrency pairs which caused losses for no reason. So, I definitely don't prefer using trading bots because many trading bots don't work stably and can be easily deceived. Also, I don't recommend it.

Finally, although the option may vary depending on the preferred trading bot such algorithms generally request permission to perform various transactions on your exchange account. In other words, considering that there are various possibilities such as transferring the balance in your wallet to another wallet even though it doesn't appear in the permission list. There is also the risk of losing the entire capital with the aim of capital growth. Although this isn't the case for every trading bot any damage that may occur due to different reasons will be reflected on the user at the end of the day. In summary, for me making money using a trading bot is a very risky thing and it is a method that carries the risk of losing 30 cents in order to make 3 cents of money. (The amount is written for example purposes.)