Are trading bots worth using in the cryptocurrency trading?

[Shelley_2]

Have you heard the buzz about the upcoming Bubble Futures Bot project? They're about to launch their Future Trading bot, which will be available on both Discord and Telegram. This bot is set to revolutionize the world of crypto trading by allowing you to go long or short on a wide range of on-chain assets. But what's the secret sauce behind its success? Well, it's all about the art of betting against asset prices.
Bubble Futures Bot has something special up its sleeve – it's tapping into the power of Chain Link's price oracle on the Ethereum Chain. This means it can fetch real-time prices from both centralized and decentralized trading platforms. Imagine having that kind of data at your fingertips for your trading decisions!
Now, you might be thinking, "Is this just another one of those trendy bot projects like Unibot, Aim Bot, or Banana Bot?" Well, you're not wrong – bot projects have been making waves lately, and many traders have been raking in profits. So, should you jump on board with the Bubble Futures Bot project? It's a question on many minds.
The key to making an informed decision lies in doing your own research (DYOR). While projects like these have been known to deliver substantial profits, it's essential to analyze the specifics of Bubble Futures Bot carefully. Understand its features, risks, and benefits before diving in. After all, in the world of crypto trading, knowledge is power, and a well-informed choice can make all the difference in your journey to financial success.

Check out their website for more information.
website: https://bubblebot.finance/

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[covfefe_]

Yes, crypto bots are useful trading tools. They automatically trade for you according to your trading strategy even when you are on your sleep. They are a good way to make profit buying low and selling high.
The only complaints for most bot services are their fees. But with increased numbers of popular exchanges providing free bots for its users, bot has been available for a larger group of people. And high use of bots make the market relatively stable.
The futures increases the risk a multiple times than you trading with your own coin. They do provide better yield if you are successful but they are closer to betting than trading.

[kizlod]

It sounds like a good tool, but it still can't make mistakes. But I just wouldn't want anyone or anything else to deal with my money. It's better to make your own mistakes and learn from them.

[dlightag]

Bot trading has been functioning for a long term now, and these particular one build for future trading bot. Congrt in advance for future traders using bot, Well that's good idea buy reducing the stress in trading, while bot application do necessary things to exit from market in profits position, but one have to be careful, while making use of bot in trading futures avoid liquidation.

[SamReomo]

Bot trading has been functioning for a long term now, and these particular one build for future trading bot. Congrt in advance for future traders using bot, Well that's good idea buy reducing the stress in trading, while bot application do necessary things to exit from market in profits position, but one have to be careful, while making use of bot in trading futures avoid liquidation.

Bot trading has been destroying the money of traders for long time now and it doesn't matter that if a bot is made for futures or spot trading purpose, it will always make mistakes and the result will be loss of the money of the one who trusted that bot. The bots are only introduced to grab money from the pockets of the naive traders because they don't know trading themselves and they want a solution that could make them money automatically.

Those investors often lose a lot of money by putting their money in the hands of the ones who can control the bot and who can run away with their money. I think it's useless to even try a bot if you really want to earn some good profits because bots aren't profitable at all and anyone who puts his/her money in the hands of a non human bot is just throwing that money into fire.

[wheelz1200]

Some people rely on them but I personally would not.  Unless you are an emotional trader or make dumb decisions over and over again I'd recommend staying away as each circumstance has its own story especially with how volatile crypto is.  Sometimes it's OK to go down × percentage and stay in a specific position.

[KingsDen]

Trading itself is risky, but then if you are not the one that is making the trading decision and controlling the market according to your experience you are risking more compared to the original risk that trading offers.

If you understood me very well. It is better you learn how to trade by yourself and if there is need to use a bot it is to augment your trading strategy and to make some money even when you are off the screen .

Recently, with the trend of trading bots, it has become as if the boots has totally replaced the activity of humans in trading, which is very dangerous if the trend continues. It is just like copy trading, if another is somewhere making all the decisions for you, you can blow up your account at any time and no one will be liable for your loss.

[Ulven]

The Bubble Futures Bot project is something I've never heard of before, but it seems intriguing! They intend to introduce a Future Trading bot on Telegram and Discord, with the goal of revolutionising the cryptocurrency trading industry by enabling long and short positions on various on-chain assets. Their usage of Chain Link's price oracle on the Ethereum Chain, which offers real-time pricing data from both centralised and decentralised systems, distinguishes them from competitors.
It's true that traders have benefited from bot initiatives like Unibot, Aim Bot, and Banana Bot as they have grown in popularity recently. Depending on your investigation, you should decide whether or not to participate in Bubble Futures Bot. Before committing, it is necessary to carefully consider all of its aspects, dangers, and advantages. Knowledge is power in the world of cryptocurrency trading, and making an educated decision can have a big impact on your route to financial success.

[Natalim]

Recently, a lot of newbies asking if trading bots really work. I'm not going to wonder why but it looks like they are promoting their own project.
Although no proof that your project really works compared to other trading bots OP but people must be careful in dealing with this. Trading bots on the other hand will work if that person knows well about trading. But if we ask if this will be working on newbies or just say beginners, I would say "never". For newbies, better to try doing an actual first because even if you lose at least you will be able to learn more as well rather than using these bots.

[_BlackStar]

Recently, a lot of newbies asking if trading bots really work. I'm not going to wonder why but it looks like they are promoting their own project.
Although no proof that your project really works compared to other trading bots OP but people must be careful in dealing with this.

The motive is easy to spot - a beginner with 1 post looks like he is promoting his project or maybe he is getting paid to do it.

Trading bots on the other hand will work if that person knows well about trading. But if we ask if this will be working on newbies or just say beginners, I would say "never". For newbies, better to try doing an actual first because even if you lose at least you will be able to learn more as well rather than using these bots.

Trading bots sometimes benefit traders and sometimes harm them.
This is also nothing new to trading - but the performance of each bot is different. I'm not interested in using any trading bots so far - it doesn't seem like something that would appeal to me who tends to prefer investing over short term trading.

[LogitechMouse]

The Bubble Futures Bot project is something I've never heard of before, but it seems intriguing! They intend to introduce a Future Trading bot on Telegram and Discord, with the goal of revolutionising the cryptocurrency trading industry by enabling long and short positions on various on-chain assets.

You've never heard of it before because it's a new project that they just launched. OP is just promoting his/her product like what most of the newbies out here are doing. Creating a thread, asking a question, and then in the end, they'll make a pitch regarding their project that they're shilling with the newbies out there. No difference at all.

Intend to introduce a futures trading bot on "DISCORD, and TELEGRAM"? 2 of the platforms where scamming are happening the most especially in Telegram. This is a red flag for me already although I'm quite curious in the fact that they can enable long and short on various on-chain assets.
I guess I'll just hope that OP will market this project successfully, and it will not be a scam project in the future. As to your question, it still depends because after all, these bots are being programmed, and they don't know what can still happen in the future. Will they know if the market will go down really hard in the next few weeks? No.

Are trading bots worth using? I guess so because I didn't tried it yet TBH. The real question is "Are trading bots dependable when it comes to crypto trading?" and the answer to that is a big NO. I'm not saying though that trading bots aren't useful, and profitable still, but instead of using bots, why not just trade for yourself, and don't use them.

[wxa7115]

Yes, crypto bots are useful trading tools. They automatically trade for you according to your trading strategy even when you are on your sleep. They are a good way to make profit buying low and selling high.
The only complaints for most bot services are their fees. But with increased numbers of popular exchanges providing free bots for its users, bot has been available for a larger group of people. And high use of bots make the market relatively stable.
The futures increases the risk a multiple times than you trading with your own coin. They do provide better yield if you are successful but they are closer to betting than trading.

Trading bots sound like a great idea, however they are not the automated solution people think they are, for a bot to work as intended you need three things, a working strategy, complete knowledge about the inner workings of such strategy and the ability to put that knowledge in a language your computer can understand.

How many people do you think have those three things? A very small minority, the rest of the traders out there should not use bots as they simply lack the minimum requirements to take advantage of them.

[isaac_clarke22]

Trading itself is risky, but then if you are not the one that is making the trading decision and controlling the market according to your experience you are risking more compared to the original risk that trading offers.

If you understood me very well. It is better you learn how to trade by yourself and if there is need to use a bot it is to augment your trading strategy and to make some money even when you are off the screen .

Recently, with the trend of trading bots, it has become as if the boots has totally replaced the activity of humans in trading, which is very dangerous if the trend continues. It is just like copy trading, if another is somewhere making all the decisions for you, you can blow up your account at any time and no one will be liable for your loss.

Yeah this is already the one worth noting since even by the smartest bots out there whether it is also created by your own, it would be still be risky as it is. It's still your money in the end.

Bots are still helpful, but like every developer's pet peeve out there, it is just a tool in the end and people shouldn't rely on it too much. We're already being replaced by AI anyway. /s

Plus another worth taking note is that bot is still programmed by someone and it can only do what it was programmed to do unless it is an AI.

Trading bots sound like a great idea, however they are not the automated solution people think they are, for a bot to work as intended you need three things, a working strategy, complete knowledge about the inner workings of such strategy and the ability to put that knowledge in a language your computer can understand.

How many people do you think have those three things? A very small minority, the rest of the traders out there should not use bots as they simply lack the minimum requirements to take advantage of them.

There are just people think that trading bots are like ChatGPT in crypto. Even ChatGPT itself already has limitation, what more could be said for bots out there?

[traderethereum]

What should we read from the site when no documents explain the project?
There's still a lot the team needs to add to the project so it doesn't look like it's been officially released yet.
Ok, back to the question thread.
Maybe a trader is worth using a bot but it depends on how the trader can operate the bot.
Without knowing almost all the information about the bot, the trader will not be able to make a profit.
And with market conditions like today, where prices go up and down, the trader has to check the orders in his bot more often and make sure they are running well according to the trader's wishes.

[GeorgeJohn]

Just responding to this because of the subject or the title, so what I want you to understand concerning cryptocurrency and trading is that people who uses bot applications for trading doesn't really make profit as people may think and when you see someone who has not used bot applications before all their mindset is that people who use bot applications are the people who makes more profit than another people, whereas bot has its disadvantages and some of them doesn't give a profit as a return, because some the bot applications undergoes subscriptions, so it's better for whosoever that is learning trading should learn manually instead of depending on bot.

[alistera]

The thing with bots is this, they use a point-in-time model, mostly this can only generate breakeven (zero) profits, i’ve tested many of them. What you need is a historical data model, this needs special code to make it work, mainly due to the massive datasets, which is what I use, and it’s not easy to maintain, but the signals it provides are worth their weight in gold, people often want to use it for white label signals, rarely we ever agree on a price for it but that’s something else.

[Johnyz]

Some people rely on them but I personally would not.  Unless you are an emotional trader or make dumb decisions over and over again I'd recommend staying away as each circumstance has its own story especially with how volatile crypto is.  Sometimes it's OK to go down × percentage and stay in a specific position.

You can be more emotional if you are going to depend only with the trading bots, because that only means you don't practice yourself to control your emotion.
Trading bot works good if you are too busy and don't have much time to deal with the market, but if you are going to fully depend on this then it can be risky.
There's already a reputable platform for the trading bot, its better to use it than to gamble on a new site which for me is very risky.

[Text]

Using trading bots in cryptocurrency trading can be beneficial for some traders because of automation, fast execution, availability, and the elimination of emotions.

For this kind of new trading bot project, it's important to approach it with caution since it is still in the early stages, and we don't know if it will be successful or not.
It is also not recommended to rely solely on a bot without understanding its strategy, as the market can lead to losses.
Understanding the bot's strategy and how it operates is crucial. Start with a small investment and monitor its performance.

There is no perfect bot, so they can make mistakes. You should be aware of the risks involved, such as overtrading and market manipulation.
Don't forget to have a stop-loss order in place to limit losses if your bot makes a bad trade.

[Hypnosis00]

Well, it is about to say that not all trading bots work effectively. Why? Trading bots are just reliant on the trader who uses them because even though it was proven that it work efficiently but the user is not really knowledgeable in trading, we can't also think that it runs similarly to the other users. Therefore, it was also necessary to improve our trading knowledge and skills before using this. I couldn't recommend using this for newbies or to anyone unless they are confident enough that they can do it right.

[serjent05]

Trading bots are worth using in cryptocurrency trading.  Since all is done through the bot setup, it is believe that it is more fast and efficient for trading.  At the same time, since the operation is automatically, the trade is done in an emotionless manner. It can also monitor the market 24/7 and has the possibility if the feature is enabled to do multi-tasking and diversification.

Those who want to know more about trading bot can refer to this article: https://www.analyticsinsight.net/pros-and-cons-of-crypto-trading-bots-a-guide-for-beginners/