Topic: Trading bots... do they work? - page 2. (Read 988 times)

The first thing that you said is the true purpose of the bots, and the rest are just an addition. But whether using a bot or not, a trader can still expect more, especially if he thinks the strategy that he uses are really good. If he doesn't have his own strategy because he still lacks of knowledge and skills, he can use someone's pre-configured bot and he can expect the same thing, especially if the bot owners promised them that their bots are highly profitable.

Rather, you can say the owners of those bots won't ever publicize it but they can just solo the gains that they can get out of that bot because if all will use it, who will lose on a trade and give us a profit?

Trading bots does not bring magic to your trades. What you need in trading is your potential as a trader, and the best of your knowledge and skills that will help you improve your trading career. Those who have succeeded from using trading bots are probably professional traders as well, otherwise if you are just a beginner trader and you resort into using these trading bots, definitely they will not be working either.

Yeah, but just to add, it's not as passive as many think it is. There's no one, good, optimal bot setting that will guarantee profit. Even with a most advanced and complex settings you still have to monitor the market for any deviations from expected patterns. Otherwise you're doomed to fail.
It can't be too easy, if it was, everyone would be doing it.

They work well to make your trading run more automatically because you only need to set it well, your profit and loss percentages are set in the bots, and some paid bots provide certain signals such as when there is a large transfer of funds from one address to the exchange so that it can give a little sign of what might happen in the future, don't be mistaken, bots don't increase your profit percentage, they just make you more automatic.

You would really be seeing the actual relevance of bot in trading if you do really know on how to make use of it and just like the rest been saying that you would really be eventually be able to see and appreciate its usage
specially if you are that a trader who doesnt really like to see and watch chart all day long on which you could really be simply be putting up those bots in work and would really do the job for you but of course they arent
really that adaptive specially if there would be some sudden news on which means that it would really be needing with your own decisions and alterations on the time that you do make out decisions on changing those trading methods or ways.

Agree on some points above that newbies are the ones who do have that kind of impression on which they do really believe that Trading bots could really make out money for them or able to generate without doing much
work without even trying out to realize on whats the actual usage or how it should really be used in the first place. If they do really just know that real deal with these bots then they would really be looking themselves like clowns on believing on something which it is really that impossible. Trading bots do really work but of course when it comes to precision and efficiency would really be always depending on the set up
or commands that you had put up.

Generally, trading bots depend on your capability as a trader. And it only works efficiently if you properly set it up like what you did in actual trading. It doesn't matter if that trading bot has good reviews/feedback as it really depends on the trader who uses that one. If you are knowledgeable in trading, you can also think that the results are positive but in a newbie, we couldn't think about it. That is why it is better to gain more knowledge first about trading rather than thinking about using bots as it never gives us positive output.

Trading bots does work for spot trading and even futures trading. you dont need to do anything after its set up, the bot will take trades for you and make profits or losses depending on the market situation at that time. you just need to be sure that the reviews from previous users are good before you purchase if you want to buy or subscribe to the service. if at anytime you notice the bot is doing things beyond the normal then i think you should stop it and close trade manually.

Better understanding and if you have deeper knowledge, you can really maximize the use of this system, as mentioned, you still have to program or input what you think the market next movement, system that will allow you to position your prediction in advance, bot will execute even you are sleeping, you don't need to spend more time if you know how the system works.

The good catch behind it is you can trade without emotion. I mean, after you setup your position using bot, all you have to do is wait and allow the cycle and see if your assessment is correct. Let that bot work for you.

and these bots that usually works really well are the one designed for it, meaning it has ability to make some guess based on current pattern which revolves around taking advantage of guidebook chart analysis.
meaning that its not some random bot with minimalistic capabilities and if i remember correctly most of exchange out there that give bot features are just giving bot with minimalistic capabilities just to determine when to entry and when to cash out meaning it won't be that massive of help.
if you are good at programming, you could bould it yourself and make it better suits your needs and I think thats far better than using some random bots.

Totally useful if you are really that knowledgeable on making use of it or on how it should be ran but we know that other people does have different impression or different beliefs towards these things on which they do believe that trading bots are the ones that could make them money or simply it is really that a reason for them to become rich which it is really that a very wrong kind of thinking because this would really be rather leading into a disaster if you dont really make yourself stick into those realistic approach towards it. We know that it cant really be just that so possible that bots are really that making income for you.It is really just for the automation of your trading on which you are really that still the ones who do make out commands about those actions would really be made once it do hit up a certain condition and this what makes brings out convenience
specially into those people who arent really that always in front of their PC on which having these bots would really make out things even more simplier and more that convenient.This is the true purpose of its existence
and not into those things on  which they are really that thinking that they could automate making some money without doing something and let those bots do the work.

You might as well ask if there are any trading strategies that work.
If you (day)trade using specific metrics and according to a pattern (so don't make decisions based on gut feeling or current news) then that behaviour could be converted into a programmable bot. Of course the more different metrics you use, the harder it would be.
But you cannot have a definite answer on whether or not they work, as different bots can be programmed in completely different ways, i.e. a well-programmed arbitrage bot will always be profitable (even if the profit is small).

Trading bots can be of a great help if used properly. Yes, it can assist and support your trading matters even if you are away from your computer. But, trading bots are programmed just as a 'support', meaning that you cannot fully rely on it as it can also affect your trading negatively. Having trading bots does not mean that you will just let alone the bot do its job as there can be still an error and mistakes with it and such technical issues might still occur. Personally, I think trading bots best works if both of you work together as it can help to achieve better results in trading. And its not a good idea to trade if you don't have any knowledge about it, and the first thing that you cling onto are trading bots.

Logically speaking, there's no one in the right set of mind will exposed his working money making system, if he knows that the bot he created will continually bring him decent amount of benefits, for sure he will try to keep it as secret as it can be to make sure that no one will use it or exploit it as the value of winning strategy or patterns is really important in terms of trading.

If you have that knowledge and you know how to execute your trade or your target positioning, bot will be useful for you to lessen the time of your stay in projecting your position, as bot can do the work after you input your desire strategy and it will execute it the way you wanted things to take place.

I'm sure if it is a genuine trading robot of course it works. But that doesn't mean the robot used in trading can be completely accurate in looking for signals. usually we use it for traders who have little time to analyze and let bots play their money in trading. If you really want to use it, make sure to actually use the trial of the bot to ensure whether it really meets our expectations or not.

Yes trading bots are working, because they automate existing strategies and will reduce the time we need to spend looking after our trades. In the past a few friends from university pooled some money together and we tried out a trading book. It was quite successful, but it only worked with stocks. As long as there are experienced and successful traders beating the market on a consistent basis there will be bots that can run these strategies more efficiently. The real question is can you get your hands on these trading bots, or do you have knowhow to create your own bot. In case you are running successful strategies on your own than you can look into building your trading bot. But if you are looking for a free trading bot that is going to make you a lot of money I don't think it exist. Why should anybody give away his trading bot that works well for free? People would rather sell it for money.

Instead of using trading bot use your own learning experience because there is a great difference between trading bot and own experience. One advantage of bot is that it will never regret for its actions whereas humans will always regret once they follow wrong concept.  Disadvantage of using bot is that it will do for what you have set it but as you know that we are unable to predict the market so hardly it will achieve profit for you as with volatility a trader himself can make a good turn.

If you trade with the help of bot then how you will learn about market and how you will attain experience? Therefore try to use your own mind if you want to get experience and success in future. If you do mistake then you will learn to not follow that in future but this mechanism does not exist in bot as it always operates according to your entering code.

Regardless if these trading bots are working or not, I would not prefer taking shortcuts. It's still much better if we do trading decisions on our own rather than relying on the bots for automation reasons.

Although I acknowledge that some traders with great or extensive knowledge are using these trading bots to automate their decisions, but still the best for me is by doing it manually which we can decide on our own. Just saying.

But if you are a beginner in trading, it's not best to use these trading bots which you need to improve and master your skills first.

To answer your question, trading bots work but not for everyone. Trading bot will work successfully only for those who have good knowledge about trading. Also I don't think trading bot will work very well for a new trader. If someone thinks that by using trading bots and will become a rich overnight, then it will be his wrong thought about trading bot, because if you can't drive, you should not seat on the driving seat cz This makes accidents more likely.
Already many people have mentioned above how trading bot works, so there is no need to describe here separately that if you use trading bot without technical and fundamental knowledge, you may face loss.

I think that's because you used trading bots for exactly why NOT to use them:
Trading bots are simply meant to help you as a trader automate your strategy and trade even when you are away from your PC. So they are a support for you.

You probably expected a trading bot to magically make you money, unfortunately that doesn't work... and that's not what trading bots are for. Any platform that promises you the opposite is simply lying to you.

There are trading bots with ready-made strategies, but if they always worked 100% we would all be filthy rich.

I'm not really good at trading so I try bots thinking that it help me and expecting this would change my mind about leaving trading. Unfortunately, the results never met my expectations, for me, it was a failed attempt. I've found out that trading bots is useless if you as a trader don't have knowledge about trading. I'm not sure if hiring someone to set up the bots instead of doing it personally is a good idea, but I don't think so. Because the only ticket for us in order to succeed in trading is to become knowledgeable about this.