Topic: Binance trading bots are garbage (Read 623 times)
Lately, a lot of people really started to complain about such bots.
South Park, you are absolutely right. Learning trading is not some sort of rocket science. You just need to involve your brain cells and figure out how market is moving. But, you know, people like to take short cuts, whatever it costs.
Aren't they aware of the danger for taking the short cuts? I mean it's always dangerous to take the short cuts if you don't know where it will lead you. All I'm saying is to at least learn something first before taking that short cuts just like using that bots. It's not a plug-and-play that because you bought/use it—it doesn't mean you will basically going earn a profit already. There's a process of doing that and the more you learn about it the more it's easy for you to understand and to execute the bots on how your trading goes well.into these presumptions which are totally wrong.
They do trying or force things to work but once reality slap out their faces then thats the time they do talk about negative about it like its a piece of trash or garbage without even realizing into those things
that had spit out into their mouths.
Bots are for automation but people do always have the wrong impression towards it.
Exactly. Bots are just tools not the means. You need to modify it according to your strategy and no strategy would work good in all the circumstances. You should predict the market for next week, next month or next year and modify your bot accordingly. Which way do you believe the prices are going to move and what currency are you going to have when the change in market arrives would define the nature of your bot. Bots are not garbage but you can make one.
South Park, you are absolutely right. Learning trading is not some sort of rocket science. You just need to involve your brain cells and figure out how market is moving. But, you know, people like to take short cuts, whatever it costs.
Aren't they aware of the danger for taking the short cuts? I mean it's always dangerous to take the short cuts if you don't know where it will lead you. All I'm saying is to at least learn something first before taking that short cuts just like using that bots. It's not a plug-and-play that because you bought/use it—it doesn't mean you will basically going earn a profit already. There's a process of doing that and the more you learn about it the more it's easy for you to understand and to execute the bots on how your trading goes well.into these presumptions which are totally wrong.
They do trying or force things to work but once reality slap out their faces then thats the time they do talk about negative about it like its a piece of trash or garbage without even realizing into those things
that had spit out into their mouths.
Bots are for automation but people do always have the wrong impression towards it.
Those trading bots that you are reffering to aren't created by binance. They were created by third parties. And these bots will not make you profit even in the long run. In fact, the longer you use these bots, the more money that you will lose. They were good at the middle part as what I am hearing. But in the long run... they are all garbage. It's better to use technical analytic skills on trading.
that's what i wanted to say also. the OP i guess is misinformed by these trading bots. and it is up to the trader what bot will you use. and the exchange is not responsible in choosing your trading bot. so if you use crap trading bot obviously you will get crap results also. and remember, most of them are really crap! better use your trading skills and experience, if you are capable of. but if you dont have those, just forget the trading. and dont blame others for your shortcomings.
Those trading bots that you are reffering to aren't created by binance. They were created by third parties. And these bots will not make you profit even in the long run. In fact, the longer you use these bots, the more money that you will lose. They were good at the middle part as what I am hearing. But in the long run... they are all garbage. It's better to use technical analytic skills on trading.
South Park, you are absolutely right. Learning trading is not some sort of rocket science. You just need to involve your brain cells and figure out how market is moving. But, you know, people like to take short cuts, whatever it costs.
Aren't they aware of the danger for taking the short cuts? I mean it's always dangerous to take the short cuts if you don't know where it will lead you. All I'm saying is to at least learn something first before taking that short cuts just like using that bots. It's not a plug-and-play that because you bought/use it—it doesn't mean you will basically going earn a profit already. There's a process of doing that and the more you learn about it the more it's easy for you to understand and to execute the bots on how your trading goes well. I actually son't have any believe on trading bot .If you want to success on trading you have to study more and spend much time on market .A automatic will not give you profit all the time what you want .Try to learn from your mistake
You can still be a successful trader even using bots. Use bots traders still need experience about trading. As I have said several times, I do not use bots in trading, I have tried but experienced a few problems in operating them until I finally chose the conventional method.
It's fine if you don't use bots if you just a casual trader but if you want to do trading to the next level , bots are recommended
South Park, you are absolutely right. Learning trading is not some sort of rocket science. You just need to involve your brain cells and figure out how market is moving. But, you know, people like to take short cuts, whatever it costs.
Don't expect too much that trading bots will help you earn outstanding profits because trading bots can't outperform the crypto market that it is made for managing your portfolios while you are away. Automated trading bots are not reliable and efficient, that is why manual trading is still an effective way to make high profits.
Trading bots can be very reliable and efficient but the problem is that those are secondary characteristics, the one that everyone is looking for is that the trading bot is profitable and for that you need a strategy that you know 100% will produce profits in that is not an easy feat at all, this is why I have always thought that if you want to use a bot then you need to be capable of coding the bot yourself and if you cannot do that then you have no business using a bot to try to trade the markets. 
I haven't tried using trading bots, because it seems i can't take some loss especially if someone do it for me just like using bots, and i value the experience so much because it fixed my attitude about gaining profits and having loss. and bots are just a system created by a man, bots are definitely trash although some of them create small profits it's better to just do your trading yourself and why you're doing that acquire some knowledge in the long run.
We should focus on manual trading instead of complaining on the service of the trading bots that are providing. I also believe that experiences are important and it is the reason why we should manual trading and avoid using trading bots. I'm not a hater of trading bots but I just telling that it can make as weak and also vulnerable to losses. Instead of finding the best trading bots, we should focus on ourselves on how we will make our trading journey to become successful. knowledge can gain through experiences, we cannot get experiences from just using trading bots and for me manual trading is still the best even if there are some who are making through trading bots. 
I actually son't have any believe on trading bot .If you want to success on trading you have to study more and spend much time on market .A automatic will not give you profit all the time what you want .Try to learn from your mistake
You can still be a successful trader even using bots. Use bots traders still need experience about trading. As I have said several times, I do not use bots in trading, I have tried but experienced a few problems in operating them until I finally chose the conventional method.
I actually son't have any believe on trading bot .If you want to success on trading you have to study more and spend much time on market .A automatic will not give you profit all the time what you want .Try to learn from your mistake
Currently there are lots of trading bots that can be used on Binance exchange, but if you experience losses after using trading bots there are
several possibilities. That doesn't mean trading bots are garbage, the first thing is you don't set it up properly. This is a possible cause which
most often happens when you fail to use trading bots, keep in mind that trading bots don't make you have passive income. The next reason
you use trading bots in the long run and forget to do updates, this is the next reason you lose money. It is a little complicated using trading bots,
my advice is to trade manually. Besides your trading skills will increase, the risk is much smaller.
several possibilities. That doesn't mean trading bots are garbage, the first thing is you don't set it up properly. This is a possible cause which
most often happens when you fail to use trading bots, keep in mind that trading bots don't make you have passive income. The next reason
you use trading bots in the long run and forget to do updates, this is the next reason you lose money. It is a little complicated using trading bots,
my advice is to trade manually. Besides your trading skills will increase, the risk is much smaller.
I really understand that a good trading bot program will in any case make the technical analysis of the market several times better than me, and therefore the bot has a better chance of getting good results from trading than me. But I still have a very big distrust of such programs. In addition, if you already pay money for a trading bot, then you want to be sure of its performance, but for some reason only negative reviews always sound.
I have previously had an unsuccessful experience of using a bot for trading. For myself, I explained the reason for the unsuccessful trade in two point:
- I didn't set up the bot correctly
- the bot is not suitable for working in a bear market.
I don't want to go back to working with bots again, because I'm already used to trading manually.
I personally couldn't handle any sort of bitcoin trading bot these days because right now everyone is making profit so people who owns bots try to make it look like their bot is awesome but in reality people who do manual trading makes a profit right now as well, there is really nothing too serious about making a profit nowadays, bots are not special in that kind of way. Do you know when I will really think bots are cool?
When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.
I really understand that a good trading bot program will in any case make the technical analysis of the market several times better than me, and therefore the bot has a better chance of getting good results from trading than me. But I still have a very big distrust of such programs. In addition, if you already pay money for a trading bot, then you want to be sure of its performance, but for some reason only negative reviews always sound. When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.
I personally couldn't handle any sort of bitcoin trading bot these days because right now everyone is making profit so people who owns bots try to make it look like their bot is awesome but in reality people who do manual trading makes a profit right now as well, there is really nothing too serious about making a profit nowadays, bots are not special in that kind of way. Do you know when I will really think bots are cool?
When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.
When bots could make a profit or at least not create tons of bags during the bear moments, that is when I think they will actually be worthy of purchase and a test. I have used so many of them so far and I can tell you that none of them were the things I imagined they would be, they were all predictable and boring machines that does what I tell them, which is what I would do during manual trading.
Has anyone else in here noticed how easy it is to predict the trading bot trends on binance? 
At the first place why using bots? Just try to learn different things in trading, read some latest news in twitter and in telegram it will be a lot easier for us if we will learn everything and will not depend on some bots, it will help you soon to be a better trader and also, the feeling of correct prediction using your skills and knowledge is better than anything else, so I would not advise that one.
Don't expect too much that trading bots will help you earn outstanding profits because trading bots can't outperform the crypto market that it is made for managing your portfolios while you are away. Automated trading bots are not reliable and efficient, that is why manual trading is still an effective way to make high profits.
Just reading first and last page and I think we're confusing bots with strategies here. Bots = a script that automates trading, triggering order events and closing positions or opening new ones according to instructions pre-determined by the user.
So a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.
Profit relies not on the bot but on the strategy (or if you're me, dumb luck).
People havent realize this one and you are perfectly right on what you had said where there's a confusion on whats a bot all about.Majority do believe that this one can really make moneySo a bad bot is just one that doesn't follow instructions properly, a good one does so quickly and accurately -- coding is what sets bots apart.
Profit relies not on the bot but on the strategy (or if you're me, dumb luck).
but as said these are just scripts that automate trading that had been set up by the user itself.It do indeed matter with coding and thats why we do able to see lots of bots in the market
with specific kind of strategy based up on market movements.Its a garbage? then its not that something new because not all the these times these bots will really be profitable.
And Binance has nothing to do with the performance of your trading bot. It is up to the trader what kind of performance he will get from his trading bot. I don't know if the OP is just ignorant or just trash talking binance? Because users here are not dumb to just believe what has been said by anyone without basis. Yes, a lot of these users thought that trading bots will make them instant rich without effort and skills applied.
Has anyone else in here noticed how easy it is to predict the trading bot trends on binance?
Trading is not so easy that a bot will be able to earn huge money for you. You should use your own brain on it. Try to apply your own tragedy on trading.Completely agree. Bots are not something you should rely on when trading and they will not help you get profit. To my opinion trading bots are useless and without your hard work, experience and good risk assessment you will not become successful trader. So, bots can be used only for fun but not for serious trading.
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