Binance trading bots are garbage - page 2.

Quidat

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Quote from: Savemore on August 14, 2020, 09:55:53 PM

Quote from: Quidat on August 13, 2020, 02:21:13 PM

Quote from: AniviaBtc on August 13, 2020, 12:12:37 PM

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Its not really that not profitable because all things will vary on the market movement.There are already bots which had been modified for a specific market condition and its been set up
by traders or its creators itself which basically means that it is an automation of trades in behalf of you.People do always had that misconception towards bot which isnt really true.
You can say its garbage if you do expect on it too much on where it can make money which is really wrong and you will surely realize that in the end when you do see
that nothing do works on what you had expected.Better to trade manually rather than heavily relying into these bots.

There are people who complaining because of the trading bots and it is the problem because they are just depending on it. Do not treat trading bots as a sure profit because there is no trading bot that existing like that. Instead of complaining, it is better to think a way in order to become profitable in trading. I really do not trust trading bots, did you see any successful traders that are using it? Of course none right because all of them are trading by their selves.

Success wont really rely on bots but these are indeed useful tools but people does really have a different approach towards this thing on where they do treat it just some sort of fast way on earning profits
but it doesnt really work that way.Manual trading is always preferable but there are really scenarios or times that we do need to use up some bots for automation specially if we are some sort of busy or away from
our computer.It isnt garbage actually but people who do believe that they do function out on whats inside into their heads which is the bullshit thing that someone could think of.

peterpanda

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Quote from: Alanin on July 30, 2020, 04:18:13 PM

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance? Tongue

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.

princerepon

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Quote from: Alanin on July 30, 2020, 04:18:13 PM

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance? Tongue

If you are just talking about binance exchange then you probably wrong. Cause binance is the finest exchange at this moment. If you are not comfort with binance then you'll not find it any other places.
And if you are just frustrating because of bot then i can agree with that thing. Bot trading is not a good choice in my opinion. Cause soon or later you'll find out how it badly impact on you assets. That's why i don't recommend to use bot for trade.

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Quote from: buwaytress on August 15, 2020, 01:22:02 PM

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).

I think this is an important distinction, a good bot will follow the instructions that you have coded in it perfectly without any mistakes, however this bot is not at fault if the user puts a losing strategy in the code, for the most part that is the responsibility of the traders himself, even if some bots come with a default strategy it is obvious that such a strategy cannot be too successful as thousands or even tens of thousands use the very same strategy and this diminishes the effectivness the bot will have.

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Quote from: Wawa2013 on August 15, 2020, 02:17:39 PM

Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

In the sense of managing your investment properly doing it in a traditional ways is much better, many already gave their own opinions
about using this tools and it's clear enough that bot only works from how the users encode their target output from the system.
This works for traders who have long experienced inside this market, people who knows to calculate and anticipate what market may bring them, the bot helps them to triggered their targets so even they are not watching the market bot will be the one that will work for them.

Mauser

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Quote from: chip1994 on August 16, 2020, 12:53:56 AM

Quote from: Alanin on July 30, 2020, 04:18:13 PM

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance? Tongue

It depends on the experience of the bot user. some bots are not good for some but profitable for those who understand it. It is important that you have enough knowledge to re-analyze what the bot has analyzed or not, this is very important and it affects your trade results a lot.
But best of all, we should still invest in our own people to get hands-on experience, then trade without any bots.

I think that people buy a bot to help with their decisions in crypto trading, but tend to not double check the bots. Its just easier to fully trust a system and then blame the system if something goes wrong. I used to work for an investment firm that sold a fully automated system, similar to black box that just did all the trading for you. Marketing wise we used to check all the parameters and ended using only the most favourable inputs. Without checking yourself you are at the mercy of someone else.

chip1994

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Quote from: Alanin on July 30, 2020, 04:18:13 PM

Has anyone else in here noticed how easy it is to predict the trading bot trends on binance? Tongue

It depends on the experience of the bot user. some bots are not good for some but profitable for those who understand it. It is important that you have enough knowledge to re-analyze what the bot has analyzed or not, this is very important and it affects your trade results a lot.
But best of all, we should still invest in our own people to get hands-on experience, then trade without any bots.

SquallLeonhart

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Strategies plays a big role in the life of bots, that is why people got carried away in between there, because if you have a bot you have to have a strategy, why? Because you can't just tell a bot to go make money, it doesn't work like that, bots do not have their own brains and they require you to give them a strategy to what to do and they will follow that 7/24 so that you can trade while you are asleep.

Obviously this is not something that is forever, because strategies change and what works today may not work tomorrow so you have to keep update it. In short strategies are things that we feed to bots to make us money, so it means that strategies are not stuff that is useless or irrelevant on this topic, they matter as well since we need to decide on a strategy that our bot will work on.

Savemore

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Quote from: Wawa2013 on August 15, 2020, 02:17:39 PM

Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

People deceived on others opinions and promotion just because they thought they can have "passive income" through using it. It is their fault to fall in that kind of trick because it is just indicating that they have wrong mindset about trading. Actually there is no passive income in trading and they should be aware of it because it is a game of possibilities but you can consistently earning through it by having a proper plan and good discipline.

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Quote from: buwaytress on August 15, 2020, 01:22:02 PM

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 money
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.

Wawa2013

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Actually, many people misunderstand trading bots, many people think trading bots can provide passive income.
Even though in fact trading bots depends on the ability of users to set up these bots, because trading bots does
not run automatically. So it's better to do manual trading is much better than using trading bots.

buwaytress

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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).

rodskee

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Quote from: Savemore on August 14, 2020, 09:55:53 PM

There are people who complaining because of the trading bots and it is the problem because they are just depending on it.

The very wrong impressions by most traders who did not really to the research before using such tool.
A bot still relies from how the users program them no special skills but everything depends from the
user itself and the bot will execute.

Quote from: Savemore on August 14, 2020, 09:55:53 PM

Do not treat trading bots as a sure profit because there is no trading bot that existing like that.

Never. It will be a good tool if you really understand the flow inside the market, if you have knowledge
and good skills to anticipate, then let the bot deal with what to intend to do without watching the market.

Quote from: Savemore on August 14, 2020, 09:55:53 PM

Instead of complaining, it is better to think a way in order to become profitable in trading.

All ends with your own research, you'll find good decision making and you'll be able to make your
bot very useful to your everyday trade.

Quote from: Savemore on August 14, 2020, 09:55:53 PM

I really do not trust trading bots, did you see any successful traders that are using it? Of course none right because all of them are trading by their selves.

We never know for sure, maybe there are traders who also use this tool, they know how to
configure it and know how to execute the right way.

Savemore

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Quote from: Quidat on August 13, 2020, 02:21:13 PM

Quote from: AniviaBtc on August 13, 2020, 12:12:37 PM

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Its not really that not profitable because all things will vary on the market movement.There are already bots which had been modified for a specific market condition and its been set up
by traders or its creators itself which basically means that it is an automation of trades in behalf of you.People do always had that misconception towards bot which isnt really true.
You can say its garbage if you do expect on it too much on where it can make money which is really wrong and you will surely realize that in the end when you do see
that nothing do works on what you had expected.Better to trade manually rather than heavily relying into these bots.

There are people who complaining because of the trading bots and it is the problem because they are just depending on it. Do not treat trading bots as a sure profit because there is no trading bot that existing like that. Instead of complaining, it is better to think a way in order to become profitable in trading. I really do not trust trading bots, did you see any successful traders that are using it? Of course none right because all of them are trading by their selves.

South Park

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Quote from: Kelvinid on August 10, 2020, 05:26:26 PM

I was on that thinking before and I find it wrong. It can't be that bots or any trading will make you profitable in trading but it's YOU who did it. It is something we need to understand and for those whose coming to become a trader. We didn't just rely on this thing coz we are just to fail if that so.

@OP, It wasn't the bots you have a need to complain but first, consider yourself out of it. Some bots did it right but it was wrongly used by its users then the result will be opposite, this is probably what it happens to you. You better check it.

Exactly, bots do not generate profits on their own what they do is to follow the strategy you have coded in them and follow it in a perfect way without deviating from it, if you did a good job with the bot then you get profits if you did not then you lose money, and as long there was no bug or mistake in the code of your bot then your profits and losses come directly from how effective your strategy really is, so this notion that bots bring profits or losses on their own is ridiculous, the one that wins or losses is always the trader behind the bot.

Quidat

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Quote from: AniviaBtc on August 13, 2020, 12:12:37 PM

Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Its not really that not profitable because all things will vary on the market movement.There are already bots which had been modified for a specific market condition and its been set up
by traders or its creators itself which basically means that it is an automation of trades in behalf of you.People do always had that misconception towards bot which isnt really true.
You can say its garbage if you do expect on it too much on where it can make money which is really wrong and you will surely realize that in the end when you do see
that nothing do works on what you had expected.Better to trade manually rather than heavily relying into these bots.

AniviaBtc

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Who says that trading bot are really good in trading?
I must say that based on my experience in trading, I prefer to not rely on those existing trading bots.

I don't see it profitable for me, and if you are telling that Binance trading bots are garbage then maybe it is not for you. Instead of using them, it is much better if you will push yourself to study and learn about manual trading that will help you understand how trading actually works. Trading bots are far different from actual trading because you have full control of your assets while in trading bots, you will just set a strategy and that's it.

Xinarae*

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I think so binance trading bot garbage when you going some wrong step properly or mistake analysis fundamental and technical analysis, Trading can be a source of frustration for you if you can't manage trading in court or come up with potential ideas. binance trading bot is important to learn to manage the bot before using binance trading bot.

whyrqa

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Quote from: spike420211 on August 13, 2020, 07:29:44 AM

Quote from: Shasha80 on August 08, 2020, 08:18:16 PM

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

In your opinion, people who do not use trading bots, but know about their effectiveness from others, cannot consider them garbage? I have not yet met a person on the forum who would openly talk about the effectiveness of a bot, which in turn would in fact be effective over a long distance. It is not necessary to suffer losses in order to have an opinion about bots, it is enough to look at their statistics for at least half a year.

There are certain people who are trying to convince me of the opposite, explaining the effectiveness of a trading bot by the fact that the program performs any analysis much faster and better than an ordinary trader. But for some reason I always remember negative reviews about trading bots on the forum. That is why I have never used a trading bot personally, but since the Binance trading exchange is one of the best, the question of the quality of a trading bot is really relevant.

spike420211

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Quote from: Shasha80 on August 08, 2020, 08:18:16 PM

I'm sure the people who mention trading bots are garbage are the ones who suffer a loss when using trading bots.
It is not recommended for newbies to use trading bots, because the risk is very large. Even the worst that will happen
is the possibility of losing all the capital we have. Therefore manual trading is still the best choice for trading.

In your opinion, people who do not use trading bots, but know about their effectiveness from others, cannot consider them garbage? I have not yet met a person on the forum who would openly talk about the effectiveness of a bot, which in turn would in fact be effective over a long distance. It is not necessary to suffer losses in order to have an opinion about bots, it is enough to look at their statistics for at least half a year.

Topic: Binance trading bots are garbage - page 2. (Read 623 times)