No
Cause they'll never match human experience & sense!!
Topic: Are trading bots worth using in the cryptocurrency trading? - page 2. (Read 525 times)
And you are right about not believing on all of those bots that can be bought, using a bot only makes sense if a trader is profitable already and they can code, as in this way they can trade the markets every single minute of every day and not miss a single movement because they were sleeping or they got distracted.
However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
Programming these days starts slowly to become a common knowledge. Most of the people I encountered even non techy almost are at least familiar with simple syntaxes since it is almost like close to math knowledge that you learn in high school. However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
Also coding requires logical thinking and the ability to convert a big problem into many smaller ones, and this is an ability very few people have naturally and it has to be developed through training.
And yeah, it's not just logical thinking. When you code, you're not just coding but you are also solving problems well at least that's what I see to most of software engineers/developers.
It can process a large amount of data to meet the standards you set, but you still need to check it regularly because there is always the possibility of the bot encountering errors
Bots are prone to errors still. Remember when you can do the "pretend to be my deceased grandma" in ChatGPT? Not sure if it is still working these days as I never really used ChatGPT that much in my software dev work, but they were able to generate keys for various software like the usual operating system, Windows. Bots are still like an ongoing project and would continue to be just like any other software out there in the market. Bugs aren't going away by themselves. And you are right about not believing on all of those bots that can be bought, using a bot only makes sense if a trader is profitable already and they can code, as in this way they can trade the markets every single minute of every day and not miss a single movement because they were sleeping or they got distracted.
However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
Programming these days starts slowly to become a common knowledge. Most of the people I encountered even non techy almost are at least familiar with simple syntaxes since it is almost like close to math knowledge that you learn in high school. However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
Also coding requires logical thinking and the ability to convert a big problem into many smaller ones, and this is an ability very few people have naturally and it has to be developed through training.
With little movements, bots are needed because if you do this manually you will need a lot of time in front of the computer and I can say that it will stress your eye. Based on experience, I already went through that and never want it again.
Set it up where you are comfortable with because it could go wrong if you make a little mistake. I suggest doing a simulation first with cheap cryptocurrencies like Shiba Inu or Doge. That way you will see if it will be working fine before you switch to high-end and high fluctuating currencies like Bitcoin or Ethereum.
They are worth it if done right, but don't jump the gun if you have no idea about it.
Set it up where you are comfortable with because it could go wrong if you make a little mistake. I suggest doing a simulation first with cheap cryptocurrencies like Shiba Inu or Doge. That way you will see if it will be working fine before you switch to high-end and high fluctuating currencies like Bitcoin or Ethereum.
They are worth it if done right, but don't jump the gun if you have no idea about it.
Never tried using bots in futures trading. I am actually a newbie to futures trading and liquidation is always my friend. 😅 Though I've been trading in futures but just a trial and error with a fund of like $10 to $20 but never experienced using bots because I don't actually understand how it works. I need to do my own research first.
Futures trading with a bot is incredibly dangerous, and that is why I think you should try to avoid it just like you have so far. I have seen plenty of them in my time and checked them out, and I can guarantee you that even though they are showing you the good ones, I can find you a thousand trades where it made a loss from other people.Obviously the bot sellers will not show you the losses, why would they? They wouldn't be able to sell a single one if they kept showing thousand bad trades in the futures, and this is futures we are talking about as well, it will not be good at all. In the end I feel like it should be important to remember that you are going to end up with a situation that will ruin your situation on the long term.
Never tried using bots in futures trading. I am actually a newbie to futures trading and liquidation is always my friend. 😅 Though I've been trading in futures but just a trial and error with a fund of like $10 to $20 but never experienced using bots because I don't actually understand how it works. I need to do my own research first.
Depends on the person, if you think that you are so bad that you need a trading bot to help you, then I would understand the logic. Obviously, even if you use a trading bot that doesn't mean that you are going to end up with a good result, you could still end up with a bad one, but that doesn't mean that you are going to end up with a worse result, which is the point.
If you are a bad trader, with a trading bot you could either make at least as bad or maybe a lot less bad or maybe if you are lucky then even just good as well. This is why I believe that we are going to end up with something that you will be able to profit from. I hope that people would realize learning how to trade yourself is a better one though.
If you are a bad trader, with a trading bot you could either make at least as bad or maybe a lot less bad or maybe if you are lucky then even just good as well. This is why I believe that we are going to end up with something that you will be able to profit from. I hope that people would realize learning how to trade yourself is a better one though.
Any bot requires human adjustment. If you do not control the bot's trades, you will lose your deposit. A bot cannot analyse trend changes, but it can monitor volumes, buys and sells. That's why you need to change some settings regularly, and it's better to do everything yourself.
And it was useless to use trading bots if we never knew about trading which is why I encourage newbies to just invest their time learning trading first rather than buying these bots. I see many people misunderstand how these trading bots work as they think that it works alone but it lies on our hands instead. Meaning, if we are not yet good at trading, we can't also expect good results for this. It was not reasonable enough to acquire this thing if we were incapable enough to do it in actual trade.
Any bot requires human adjustment. If you do not control the bot's trades, you will lose your deposit. A bot cannot analyse trend changes, but it can monitor volumes, buys and sells. That's why you need to change some settings regularly, and it's better to do everything yourself.
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.
Yes, using a bot with a good reputation is more advisable than using a bot that is new and doesn't have any recommendations.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.
I am not used to using bots because I am a full time trader using technical and fundamental analysis. But using Bots will also be very useful if I am busy and not focusing on trading. I might try some of the bots my friends recommend later, but full control remains with the user, because that's what's important.
Using a bot for overall trading is not advisable. They don't have the ability to change their strategy in the face of sudden changes in the cryptocurrency market. The market is full of catalyst events, and positive and negative news about bitcoin is responsible for sudden and drastic changes... These bots cannot predict or re-adjust based on these changes. Use the bot only to accumulate coins from a sideways market.
Just use the bots that are common to the community. I don't use one but if ever I'll start to use one, I'll choose those that I've known and has got a lot of users as well.
Seems like that's the default choice anyway although I wouldn't spend it all if I am short on capital. I could have invested that instead for my trading even though I don't trading anymore.Using trading bots in cryptocurrency trading can be beneficial for some traders because of automation, fast execution, availability, and the elimination of emotions.
True and this is what those traders that are new to it for them to understand. Because for them, when someone uses a bot, they think of the opposite like it will generally going to work for them and profits will just come to their accounts naturally without having any losses. That mindset should be changed but no doubt that bots are making the trader's lives easier.If possible, you could just create one. I haven't dug deep yet on how complex building a trading bot is, but surely it can't be that far from just automating web apps with Python.
Love automations by the way, lol.
And you are right about not believing on all of those bots that can be bought, using a bot only makes sense if a trader is profitable already and they can code, as in this way they can trade the markets every single minute of every day and not miss a single movement because they were sleeping or they got distracted.
However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
Programming these days starts slowly to become a common knowledge. Most of the people I encountered even non techy almost are at least familiar with simple syntaxes since it is almost like close to math knowledge that you learn in high school. However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
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.
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.
Agree. Most people that use our live chat related to trading bots aka robots assume it to be simple. They just want to find a robot that does all the hard work. That is not how it works. You are the one that have to do the hard work. Finding a strategy that actually generate a profit in both bull and bear markets. I personally only believe in trading bots that are built / set up by yourself. If businesses with this kind of products work so well - why don't they just use it themselves and make a killing from it? If a trading bot business need customers, it probably doesn't work so well..
However for some reason many people out there hold the idea that someone else is going to give up on years of research and trial and error and sell their knowledge for peanuts.
you just see the history of people that used such tools for trading, do they really make money using it?
there are even AI bots available for those that wanted to improve their trading career and capabilities but doesn't necessarily means that its really gonna be useful for them since the effect is still unproven.
but considering the fact that some exchange out there are giving the facilities to have trading bots then I guess utilizing it is really no problem.
more over if you could simply adjust the bots setting towards your own strategy then it will only helps you automate things and take off the burden of always there to see the prices.
That will be a combination that can be useful for increasing trading profits, so that trading can be maximized. Now indeed Excgange has their respective bots for trading and yes it is quite a useful facility for those who cannot look at the market intensely. The use of bots also minimizes errors that can be caused by humans and eliminates emotions in trading. there are even AI bots available for those that wanted to improve their trading career and capabilities but doesn't necessarily means that its really gonna be useful for them since the effect is still unproven.
but considering the fact that some exchange out there are giving the facilities to have trading bots then I guess utilizing it is really no problem.
more over if you could simply adjust the bots setting towards your own strategy then it will only helps you automate things and take off the burden of always there to see the prices.
I'm not sure if OP is still active after creating this topic and I hope she is able to get the answer already or taking the risk of using trading bots.
Well, the only thing I can say is that trading bots will work effectively if the one who uses it is also a good trader otherwise, we can't expect good results from them. While using this, we are also aware that whatever happen is in the because of tha bot but it was who do the command.
And to ask if it was it wa profitable than the usual trade we did, that certainly depend on the trader because bot is just a tool.
Well, the only thing I can say is that trading bots will work effectively if the one who uses it is also a good trader otherwise, we can't expect good results from them. While using this, we are also aware that whatever happen is in the because of tha bot but it was who do the command.
And to ask if it was it wa profitable than the usual trade we did, that certainly depend on the trader because bot is just a tool.
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.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.
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.
Agree. Most people that use our live chat related to trading bots aka robots assume it to be simple. They just want to find a robot that does all the hard work. That is not how it works. You are the one that have to do the hard work. Finding a strategy that actually generate a profit in both bull and bear markets. I personally only believe in trading bots that are built / set up by yourself. If businesses with this kind of products work so well - why don't they just use it themselves and make a killing from it? If a trading bot business need customers, it probably doesn't work so well..
you just see the history of people that used such tools for trading, do they really make money using it?
there are even AI bots available for those that wanted to improve their trading career and capabilities but doesn't necessarily means that its really gonna be useful for them since the effect is still unproven.
but considering the fact that some exchange out there are giving the facilities to have trading bots then I guess utilizing it is really no problem.
more over if you could simply adjust the bots setting towards your own strategy then it will only helps you automate things and take off the burden of always there to see the prices.
there are even AI bots available for those that wanted to improve their trading career and capabilities but doesn't necessarily means that its really gonna be useful for them since the effect is still unproven.
but considering the fact that some exchange out there are giving the facilities to have trading bots then I guess utilizing it is really no problem.
more over if you could simply adjust the bots setting towards your own strategy then it will only helps you automate things and take off the burden of always there to see the prices.
Just use the bots that are common to the community. I don't use one but if ever I'll start to use one, I'll choose those that I've known and has got a lot of users as well.
Using trading bots in cryptocurrency trading can be beneficial for some traders because of automation, fast execution, availability, and the elimination of emotions.
True and this is what those traders that are new to it for them to understand. Because for them, when someone uses a bot, they think of the opposite like it will generally going to work for them and profits will just come to their accounts naturally without having any losses. That mindset should be changed but no doubt that bots are making the trader's lives easier. 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.
Yes, using a bot with a good reputation is more advisable than using a bot that is new and doesn't have any recommendations.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.
I am not used to using bots because I am a full time trader using technical and fundamental analysis. But using Bots will also be very useful if I am busy and not focusing on trading. I might try some of the bots my friends recommend later, but full control remains with the user, because that's what's important.
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/
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/
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.
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