Autotrading system | Bitcointalksearch.org

muncuss

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Quote from: el kaka22 on May 23, 2024, 03:44:42 PM

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

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Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

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Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

el kaka22

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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.

MRY

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Quote from: senyorito123 on May 22, 2024, 10:54:35 AM

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.

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Quote from: Kelward on May 22, 2024, 04:15:54 AM

Quote from: terrific on May 18, 2024, 09:32:15 AM

Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

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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.

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Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

Cool

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Quote from: DarkState on May 22, 2024, 03:25:02 AM

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

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Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

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Quote from: terrific on May 18, 2024, 09:32:15 AM

Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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.

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Quote from: Oshosondy on May 18, 2024, 09:22:39 AM

It is called automated trading. Bots are used for the automated trading. You can also check some exchanges like OKX, Binance and other exchanges and read more about their bots. The bots have different works but in a way they can execute trades for you automatically without you doing anything or even when you are sleeping.

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?

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Quote from: Natsuu on May 20, 2024, 01:09:37 AM

Quote from: Oshosondy on May 18, 2024, 09:22:39 AM

It is called automated trading. Bots are used for the automated trading. You can also check some exchanges like OKX, Binance and other exchanges and read more about their bots. The bots have different works but in a way they can execute trades for you automatically without you doing anything or even when you are sleeping.

But most of the time, this trading bots are high frequency. It operates in many trades, in negative risk rewards, and without the scope of the narrative in the market place such as economic news. For me most of it are flawed. Because in high frequency, you may be winning but the commission or transaction cost could be higher than you are expecting. In negative risk reward, you may have a high win rate but still losing because of it. It is like puting all your faith in robot for our own trading and I personally is not a fan of it.

Also, I'd like to add that most automated trading and trading both require huge subscription fees. Well, of course, what do we expect? But notice that not all are using it, especially experienced traders. Most likely, the market for automated trading is those new to trading or newbies wanting to have quick cash or profit while skipping and ignoring the fundamentals of trading, which are knowledge, skills, and experience.

And if you notice that even a trading bot has the task of doing auto trading, the trader or the one who will use the bot will still need to configure how, when, and what amount it will trade. In short, traders who will use automated trading still need to know the basics, or else even a trading bot will not help them. That's why it's better to trade on your own without relying on a trading bot because it's more fulfilling and you will be proud of yourself.

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That's the so-called trading bot; there have been tools like that in crypto trading for a long time. That did not really hit or be enjoyed by the crypto community.
Take note that the that the majority of the crypto community in the crypto space does not want to use trading bots.

Most are more comfortable with the natural way of conducting trading activity on any trading platform. I believe that the trading bot has surpassed copy trading, that is why in most
of the CEX has a copy trade features.

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Quote from: Emmybit001 on May 18, 2024, 09:04:55 AM

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 assumption is wrong and often leads to newcomers to the market in particular expecting high profits, which then do not materialize - and they lose their capital.

A bot implements your strategy automatically. If your strategy is poor/immature/not suitable for the market/... then the bot will not make a profit either. These are not automated money-printing machines.

So beware of using bots, they won't do the hard work of learning to trade for you.

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Quote from: Oshosondy on May 18, 2024, 09:22:39 AM

It is called automated trading. Bots are used for the automated trading. You can also check some exchanges like OKX, Binance and other exchanges and read more about their bots. The bots have different works but in a way they can execute trades for you automatically without you doing anything or even when you are sleeping.

But most of the time, this trading bots are high frequency. It operates in many trades, in negative risk rewards, and without the scope of the narrative in the market place such as economic news. For me most of it are flawed. Because in high frequency, you may be winning but the commission or transaction cost could be higher than you are expecting. In negative risk reward, you may have a high win rate but still losing because of it. It is like puting all your faith in robot for our own trading and I personally is not a fan of it.

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Quote from: Bureau on May 19, 2024, 12:30:06 AM

Please keep in mind that automatic trading doesn't mean the bot will decide every trade. As a trader it only helps making trade faster and easier with the set of guidelines provided by the trader. It does increase the chance of earning profits but the decision to invest and exit has to be taken by the trader operating the bot. It is not an AI that takes all decisions in account to make a successful and profitable trade.

You’re correct that bots needs to be setup first base on user preferences before it will do automatic trading but the existence of copy trading makes the job of automated trading with the decision of others is possible.

Copy is now very popular instead of bots since exchange shows the winning percentage of each copy traders that helps user to decide who to follow for copy trading. This is much better than bots if you have poor trading skills since it’s like hiring fund manager to trade your assets but the only difference is just you are copying his personal trades.

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Quote from: Bravut on May 18, 2024, 04:23:21 PM

I always advice anyone using Automated Trading software or bot should buy the one that aligns with our strategy, also even when making for ourselves. It works one time and fail the other time, just be aware of scammers who sell those shots, just have the right knowledge and skill set you win in the world of Trading, and not buying, believing and wasting money on softwares.

No, I tested it myself automated trading or bots are risky like I said there's no guaranteed profit in automated trading the market is always changing. You make a profit fast but since greed is one of human nature instead of you already made a profit you will lose them in the end because of greediness which is not good even if it is automated.
Copy trading is way better because they can control their emotions greed and fear and manage the risk. Just make sure you are following the best trader on the current market condition.

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Those autotrading software/system that you're talking about aren't real, sure they trade for you automatically but you got to understand that those systems need tweaking from the users that would be using them, they input what they want the software to do manually, that's how most of them works. So what you might see in those autotrading systems that other people show you, it's probably not going to work for you at all because your way of trading might be a little bit different than those that were promoting it, they already know how to trade really good in a manual way, they just want to do it automatically, so if you suck at trading right now, you're probably better off practicing for now instead of using those stuff.

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Quote from: terrific on May 18, 2024, 09:32:15 AM

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.

Bots are not better than humans. They have their errors also and they can make poor decisions which can lead to losses also. Bots should be used for making trading easier and not a way to make profit from trading.

Quote from: Bureau on May 19, 2024, 12:30:06 AM

Please keep in mind that automatic trading doesn't mean the bot will decide every trade. As a trader it only helps making trade faster and easier with the set of guidelines provided by the trader. It does increase the chance of earning profits but the decision to invest and exit has to be taken by the trader operating the bot. It is not an AI that takes all decisions in account to make a successful and profitable trade.

You can make bots to decide every trades for you but not a way of increasing trading profit. Trading is risky and bots do not decrease the risks.

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