Autotrading system

[Kelward]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

Using it won't guarantee you profit. Don't get into that misconception because if these automated trading is a certain profit maker, many have already used them and became rich now on.
As explained above, it does the trading for you but you still need to do something for setting it up.

I've also heard about automated trading and how profitable and convenient that it can be for traders, but I'm not so comfortable with the idea of letting an automated gadget to be making trading decisions for a trader. I liken it to AI when I think about it, so I think that it'll not be helpful for newbies to rely on automated trades, instead they should focus on being at alert to trade by themselves and increase their knowledge, perhaps experienced traders can use it as an alternative, because they're not relying on it.

[EarnOnVictor]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

Autotrading systems are not uncommon in the world of trading but it will be a serious misconception if you think that it is earning money for so many people. This system dates back as early as 2000 and it has ruined millions of trading accounts, if not billions, so you should be careful of what you wish for. It first started with trading robots which people are now calling bots for short and it graduated to platform integration where a manual and autotrading done on a certain account could be replicated on your own account. This is now popularly called social trading these days. This social trading was started by third-party programs before brokers/exchanges are now enabling it directly on their trading platforms.

However, I've not seen any bots and social trading systems with long-lasting results that are encouraging and their results are always similar (I mean for the bots and social trading). It is either they lose outrightly for you, profits for you but later lose it or they lose and win intermittently to the point that you have nothing to show for it over a long period. This is why although auto-trading is popular but the result has not been so encouraging. If not, everyone will be making huge money doing almost nothing through that system.

[Charles-Tim]

Are there any technical skills required to set up trading bots? I want to know if the trading bots of OKS and Binance exchange platform are beginner friendly? Do I need to be a pro trader to use them?

If you want to know about trading bots, it is better you first learn about trading. Trading bots can make trading to be easy for you but the risk is also like not using bots. Generally they are refer to as crypto trading bots and you can be an holding and still make use of a bot. Example is the bot for DCA. Know that bots are not a way to maximize your profit and also know that trading is very risky.

If you want to have idea about the bots on Binance, this article would be useful for you: https://www.binance.com/en-NG/square/post/1487477

[Loki11]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

Auto trading software, or trading bots, automate the trading process by executing buy and sell orders based on predefined criteria. They analyze market data, generate trading signals, and place orders automatically, operating 24/7 without emotional interference.

But if you don't set them right, you can lose a lot too so keep this in mind!!!

If you're interested in using auto trading to potentially enhance your profits, check out this comprehensive list of Crypto Trading Bots.

 

[senyorito123]

If you wanted to have secured auto trading, you don't need softwares or something. There's a features in exchanges sites like kucoin that I've seen lately, they're using bots or autobots in trading. For now I'm not yet into it, maybe for future plans I might include this to my set of priorities learning on how to set this on my account.
First and foremost, we badly need a capital for this serious investment. Be careful of those softwares that aren't reliable, you might loss a lot of money on that.

[jaberwock]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

Using it won't guarantee you profit. Don't get into that misconception because if these automated trading is a certain profit maker, many have already used them and became rich now on.
As explained above, it does the trading for you but you still need to do something for setting it up.

I've also heard about automated trading and how profitable and convenient that it can be for traders, but I'm not so comfortable with the idea of letting an automated gadget to be making trading decisions for a trader. I liken it to AI when I think about it, so I think that it'll not be helpful for newbies to rely on automated trades, instead they should focus on being at alert to trade by themselves and increase their knowledge, perhaps experienced traders can use it as an alternative, because they're not relying on it.

Convenient may be but profitable? I think not all times. Imagine if both works effortlessly, then it's like a dream come true for the people. If you got lucky to come across an auto trade that can works the same, why will you get uncomfortable? Especially when you can just pull out your capital and profits from time to time? I see no huge risk on them and most of the times, we are the ones who will command it, so the risk of losing will only depend on us or on our ability/knowledge.

A lot of newbies don't really care about the learnings but what they care the most is the profits. So no matter how you, we and others advice them the right way, there will still be hard-headed ones that will disobey us and jump on the profit side immediately.

[MRY]

If you wanted to have secured auto trading, you don't need softwares or something. There's a features in exchanges sites like kucoin that I've seen lately, they're using bots or autobots in trading. For now I'm not yet into it, maybe for future plans I might include this to my set of priorities learning on how to set this on my account.
First and foremost, we badly need a capital for this serious investment. Be careful of those softwares that aren't reliable, you might loss a lot of money on that.

I don't dare to carry out automatic trading or use third party tools because so far such programs are made by those who understand programming languages ​​so we don't know whether those third party developers have access to the wallets used for trading or not. So it will endanger the money we have. I prefer to trade or invest personally so that everything remains safe and the decision is in our own hands.

[el kaka22]

I have experiences of engaging bots in exchanges but unfortunately they were not profitable even I was running for more than 2 years of time. Probably buying bitcoins at bottoms might have been more profitable than launching a bot at the same bottom price for same amount of USDT. Bitcoin is growing in its value over the time hence buying/selling at low/high may not be accurate to beat the long term holding considering time to time what we miss at high to sell and similarly buying at lows.

At the same time, these exchange bots are based on different algorithm unlike other portal based bots, for example MT4 platform. Exchange bots are buying at continuous intervals and do sell at profit intervals if markets keep increasing. So, if you launch a bot at exact bottom price level then your bot will remain profitable but may not be guaranteed that your bot will give more profits than buying and holding at the same bottom price level.

If an asset trading continuous range bound and you launch at bottom and exit at peak levels then you may get better profits than long term holders, given that you catch bottom and top levels for more than one time.

[goaldigger]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

This is like using a bot trading but of course doesn’t guarantee any profit so don’t believe on the hype and don’t just believe that you can get a good profit when you use auto trading option. The idea here is that, you will trade 24/7 but you still the one to set-up the trading strategy or if you want to use the default strategy, but then again its not guarantee and there’s still risk when you are going to use this.

[Kelvinid]

I got to realize that must people use autotrading software which enable them to make good profit in trading,  I don't really know about this autotrading system, how does it work? Because people have been saying things about this autotrading, can someone explain how this autotrading is?

Those traders who don't have enough time take risks by choosing trading bots on their behalf but I'd never see (or they are just silent about their trading results) that they become successful and earn more than the usual trading styles. I won't say we should have used this but it is worth trying just to find out how effective it was. But in the first place, we must be aware of the situation that many scam trading bot projects which I hope that those who are in look will find the right one.

But for me, since I have ample free time, I'd still do it myself in the reason that I could learn more when doing it personally. And I could enhance my analysis and familiarize the market situation more.

[muncuss]

At the same time, these exchange bots are based on different algorithm unlike other portal based bots, for example MT4 platform. Exchange bots are buying at continuous intervals and do sell at profit intervals if markets keep increasing. So, if you launch a bot at exact bottom price level then your bot will remain profitable but may not be guaranteed that your bot will give more profits than buying and holding at the same bottom price level.

If an asset trading continuous range bound and you launch at bottom and exit at peak levels then you may get better profits than long term holders, given that you catch bottom and top levels for more than one time.

there are more type of bot than just a bot which trade in interval. Last time i use kucoin they have DCA and rebalance bot which is based on holding and trend bot which is trading by following a trend