Bot or not?

[gondel]

Hello,
I am reading everywhere that most of the trading bots are scam. Is that true? Is there somwhere any real bot which can be really profitable and should you have deep knowledge in trading and trading platforms to use it ?
Thank you all!
BR

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[shorena]

The problem with most bots is that you have to trust either your ability to read the code (if its open source) or the person who wrote it.
They usually require API access to an exchange and your BTC to work with.
I never used a tradingbot, but gekko has been around very long.

 https://bitcointalk.org/index.php?topic=209149.0

its open source and well reviewed.

[blablaace]

i had bad experience with bots..

[gondel]

The problem with most bots is that you have to trust either your ability to read the code (if its open source) or the person who wrote it.
They usually require API access to an exchange and your BTC to work with.
I never used a tradingbot, but gekko has been around very long.

 https://bitcointalk.org/index.php?topic=209149.0

its open source and well reviewed.

Thank you!
I will check it and see if it actually works. Seems that it has support and good reviews about it. Lets see.

[Vrontis]

Hello,
I am reading everywhere that most of the trading bots are scam. Is that true? Is there somwhere any real bot which can be really profitable and should you have deep knowledge in trading and trading platforms to use it ?
Thank you all!
BR

If you had created one of those bots how much would you sell it? Would you sell it or not?
Do yourself the above questions and then you probably find out easily if a bot is a scam or not.
Also note that a bot won't live for a lifetime.Every it changes and the bot needs to change as well. 
But you can always give a try to build up your own bot.IMO this is the most preferred option.Not everyone has the ability to do that but you can start practicing even in a excel (by doing some mathematical calculations).That's how the bots working.

[ShakyhandsBTCer]

Hello,
I am reading everywhere that most of the trading bots are scam. Is that true? Is there somwhere any real bot which can be really profitable and should you have deep knowledge in trading and trading platforms to use it ?
Thank you all!
BR

I would personally not trust my own hard earned BTC with a bot.

If the bot is open source then I would have a little more confidence, but that kind of trading is still very risky.

[blablaace]

Bot is a program that is pre-programmed to sales and purchases by subordinate rules.
Scam is when I say:
"Send me everything you got and I'll send you tomorrow money on your account"
And you believe it and never get money from me

[joshraban76]

What if I told you send me all your money and I will send you the BOT tomorrow, or what if the bot is working as being marketed, it's still a scam though.

[ShakyhandsBTCer]

What if I told you send me all your money and I will send you the BOT tomorrow, or what if the bot is working as being marketed, it's still a scam though.

That is not what was happening.

Whoever controlled the bot would enter into an enforceable contract that would stipulate as to how the buying would take place.

It was very much like anyone else would buy on an exchange just in much large quantities and in an automated fashion.

[BLKMined]

Has anyone actually ever tried using one of these opportunities - http://btcrobot.com/special.php 0R - http://options.traderush.com/d/en/bitcoin-mining/index.html?campaign=1&p=_14510_10291ee0dfcae0c6a4412cd61fdd37_18_784&aid=14510

For the past few weeks I've been thinking about doing the BTCitcoin/TradeRush thing BUT then this week I ran into the Robot(BTC) trading concept and it won my heart over.  But now that I'm not hearing too many good things about them(bots), I'm worried of which direction I should go?

I have the basic understanding of trading so I know I'm capable of doing both of these opportunities, especially getting help & support making it a lot easier. I guess I'm really looking for someone on this site who has had real experience with the above links.  You always hear how people made 0r are making money and love the program and what not on the actual site BUT hop on the forums and no one seems to have tried it.

URGENT:
If anyone has tried any of these wonderful(it seems) opportunities, do tell experiences??

[hvanra]

I have been using http://Cryptotrader.org for a couple of months now, and it is not a scam. But you will have to be realistic. You will not get rich overnight. Don't be fooled by bots that make millions, it's not possible. But bots can protect your money and make some profit but there are always risks involved.

[Justine]

A coder will not sell his bot for cheap if it is a profitable bot.

[ShakyhandsBTCer]

I have been using http://Cryptotrader.org for a couple of months now, and it is not a scam. But you will have to be realistic. You will not get rich overnight. Don't be fooled by bots that make millions, it's not possible. But bots can protect your money and make some profit but there are always risks involved.

All that a bot will do that trades in that fashion is follow a preset of rules that you or someone else give it.

Your success will depend on how accurate your rules are at predicting where the price will go before the rules say to take another trade

[hvanra]

A coder will not sell his bot for cheap if it is a profitable bot.

At CryptoTrader you can rent the use of a bot, they are not selling them.

[BLKMined]

Thank-You everyone for the input - hvanra, I will checkout 'Cryptotrader.org' in a second

[Simonsays]

If you are interested I have a cryptotrader.org algorithm available.  It is a personal strategy of mine that I rent out privately for a monthly rate and the total number of users (including myself) is limited.  I currently have 3 of 10 trading space open.

Here are a few backtests to show past performance - each backtest starts with $1,000 USD.   
*Note:  I have hidden indicator and event plotting.  If you would like more information and additional backtests with a bit more visibility into some indicators - we can talk.

1/1/14 to Today:  $3,981.91
     https://cryptotrader.org/backtests/Qs55q2jemGHB4zvmY
11/1/13 to Today: $67,587.56
     https://cryptotrader.org/backtests/u2hcd6uPQg7nNNEDP
1/1/13 to Today: $2,830,202.84
     https://cryptotrader.org/backtests/9WxugpQLRt7dipb2G

In comparison to other strategies available for rent on CT - this strategy is held privately and the total number of users is limited.  Measures are taken to make sure funds are spread out so orders do not fall on top of one another and to minimize slippage and market impact.

I have run this bot and its many beta versions since February of this year and have seen nice BTC gains over the long downtrend we are now (fingers crossed) escaping. A couple clients have been with me since February/March and have been able to benefit as well.

If you are interested in more information or would like to consider renting one of the remaining trading spaces - you can PM me here or preferably email me at simonsaysmine [at] gmail [dot] com [simonsaysmine@gmail.com]

[asimoshe]

i had bad experience with bots..

can you explain? which one did you tried?

[Jabbatheslutt]

If there was a bot that was really profitable do you honestly think the owner would sell it for anything less than an exorbitant amount?

[hvanra]

Don't be fooled by million dollar back test results.There is no way exchanges can handle trades worth thousands of BTC  without seriously disrupting the market and price. In back tests, every trade is a success, in a real live market it's not that easy. Look for a bot that has a smart trading mechanism. A good bot will try multiple limit ordering attempts, within seconds, to make a trade.  And even then, making a trade in the real live market depends on the available volume. If a bot wants to buy, there has to be enough BTC's at a certain price available. If thats not the case the trade can simply not be made or at a much higher price.

So if you want to trade with bots, use a modest amount of money and be happy with 10-20 percent a month, which certainly beats that what you get in your savings account at your bank. And also realize that there are always risks involved, not that you will loose all your money, but profits can be disappointing compared to the back tests, aspecially if trades can't be made.

[Simonsays]

I couldn't agree with you more hvanra.   Backtests showing eye popping gains are really just for demonstrative purposes.  In reality there is orderbook liquidity and vwap slippage that brings things back to reality.  What a 'million dollar backtest' does show, however, is consistency of performance over a wide range of market conditions.