Binance trading bots are garbage - page 3.

Kelvinid

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win lambo...

Quote from: milewilda on August 10, 2020, 04:43:48 PM

Quote from: South Park on August 10, 2020, 11:26:43 AM

snip~

Bots are just indeed for automation of trades but people do always have that belief or perception that these things can make out money for them without even realizing that these are just tools
and do needs to be set by the trader itself.Most are already set-up but for users that dont have knowledge would really be having that question mark on his mind on how the hell these bots do work.
When you do have knowledge then you can simply alter those settings and change it up according to your likes if you do saw that theres something happening in the market where you do change
up on how bots work on a specific situation.Bots are garbage if you dont know on how to use or utilize it.

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.

milewilda

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Quote from: South Park on August 10, 2020, 11:26:43 AM

Quote from: Alanin on July 31, 2020, 05:35:34 AM

Quote from: JeromeTash on July 30, 2020, 05:55:37 PM

Your title is also Garbage
Are Binance the once that create the trading bots?
Do trading bots work only on Binance?

Why are you even using trading bots in the first place?
You could as well spare sometime, learn the trading basics, experience trading and make some money instead of paying subscription for some bot to do it for you.

Im on phone. So i cba answering everyone.
But no. Im not losing, quite the opposite.
Im not using any bots myself.
Just turned 100$ into 400$ through futures in less than 1 day, trying to follow up on a theory regarding the bot algorythm.
They clearly only play by a mathematical pattern with a few variables and parameters, and nothing else it seems. (I know the owners change these factors from time to time, to not get caught up in their strategy)

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Well if that is the case and you're not using those bots yourself and are only using them to try to learn how to trade then you need to understand that for the most part bots are never going to be as good as people when it comes to trading the markets and if you are able to obtain profits on your own then for the most part you do not need to use a bot, but if in the future you feel the need to use a bot in order to automate some of your trades then it is a better idea that you could your own bot.

Bots are just indeed for automation of trades but people do always have that belief or perception that these things can make out money for them without even realizing that these are just tools
and do needs to be set by the trader itself.Most are already set-up but for users that dont have knowledge would really be having that question mark on his mind on how the hell these bots do work.
When you do have knowledge then you can simply alter those settings and change it up according to your likes if you do saw that theres something happening in the market where you do change
up on how bots work on a specific situation.Bots are garbage if you dont know on how to use or utilize it.

South Park

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Quote from: Alanin on July 31, 2020, 05:35:34 AM

Quote from: JeromeTash on July 30, 2020, 05:55:37 PM

Your title is also Garbage
Are Binance the once that create the trading bots?
Do trading bots work only on Binance?

Why are you even using trading bots in the first place?
You could as well spare sometime, learn the trading basics, experience trading and make some money instead of paying subscription for some bot to do it for you.

Im on phone. So i cba answering everyone.
But no. Im not losing, quite the opposite.
Im not using any bots myself.
Just turned 100$ into 400$ through futures in less than 1 day, trying to follow up on a theory regarding the bot algorythm.
They clearly only play by a mathematical pattern with a few variables and parameters, and nothing else it seems. (I know the owners change these factors from time to time, to not get caught up in their strategy)

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Well if that is the case and you're not using those bots yourself and are only using them to try to learn how to trade then you need to understand that for the most part bots are never going to be as good as people when it comes to trading the markets and if you are able to obtain profits on your own then for the most part you do not need to use a bot, but if in the future you feel the need to use a bot in order to automate some of your trades then it is a better idea that you could your own bot.

Salauddin1994

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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.

I also agree with you that trading boats can never be a good medium for newcomers, newcomers will definitely make a mistake if they use trading boats but trading boats should be used only if you have some doubts. Otherwise, if you only trade for profit you are much more likely to lose which you may later blame yourself for.

Shasha80

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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.

vitorgamer58

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My friend have created a Trading Bot for Binance on telegram, the bot sends trading signals: https://t.me/coingurufree

CaVO32

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Quote from: Ridwan Fauzi on August 08, 2020, 06:57:07 PM

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 bot is useful if you use scalping trading because it is just an AI, it is movement price will only depend on the technical analyst. But if there is an information come your trading bot will never be usefull.

I alwasy try to avoid using trading in my all day trading. I just afraid I will alwasy be subjected with this tool that only give a chance to gain money around 30%. Also, you will be wrong if all your entry depend on this tool because you'll be lose all your money.

And I don't think Binance will agree that their trading bot is garbage. Or is there really trading bot exclusively owned by Binance? I don't think so. And it is up to the trader how he will fully utilize the capability of the bot. Also, the OP might be talking about 3rd party trading bot, because there are 3rd party cloud software platforms that you can use like in BNB, Bittrex and others.

And if the OP is not satisfied using the trading bot that he is using, just do the manual trading and see for yourself how far you can get by. Maybe you will have better results if you manually do your trading and not rely to a bot. If you are a beginner, it is better to do your own trading to understand what's happening in the crypto market. Crypto is bit complex to understand particularly those pump and dump coins or other coins that have no actual usage but relying on traders.

Ridwan Fauzi

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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 bot is useful if you use scalping trading because it is just an AI, it is movement price will only depend on the technical analyst. But if there is an information come your trading bot will never be usefull.

I alwasy try to avoid using trading in my all day trading. I just afraid I will alwasy be subjected with this tool that only give a chance to gain money around 30%. Also, you will be wrong if all your entry depend on this tool because you'll be lose all your money.

carlisle1

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Quote from: NotATether on August 08, 2020, 05:38:00 AM

Quote from: Itsmylife on August 07, 2020, 09:53:03 PM

Quote from: NotATether on August 06, 2020, 06:17:22 AM

Quote from: Alanin on July 31, 2020, 05:35:34 AM

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

How you know that Binance or other exchange sites don't use any trading bots? How about the fake trading volume every day on their sites? Have you ever seen completed orders that are less than the limit set on an exchange?

I meant my post to be interpreted as "Binance doesn't develop trading bots that it gives or sells to its users."

Much probably. If they does, what would be the scenarios inside their trading platforms if those bot are being distributed around and more traders
or all traders are using it.

Can't imagine how things will work that way, It's better for them to use their own algo and keep it.

In the sense of exchange using bot, we all notice that especially within small
exchange where manipulated market are ongoing.

Assface16678

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I never tried the use of the trading bot because I don't want to what is the reason why you need to have a trading bot if you can make a trade on your own?. Because you're tired and earn easily without doing anything? I don't think so this is a good idea but for me, it's better to trade on your own because there is a higher chance that you will lose a lot of money because of the algorithm inputted by the developer.

It looks like you creating this thread just to express your feelings about the loss you have with the use of that trading bot. It's better to learn on your own and be dependent.

The trading bot is not a good thing and used if you are just a beginner into the world is trading that's why many people getting lost their funds.

NotATether

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Quote from: Itsmylife on August 07, 2020, 09:53:03 PM

Quote from: NotATether on August 06, 2020, 06:17:22 AM

Quote from: Alanin on July 31, 2020, 05:35:34 AM

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

How you know that Binance or other exchange sites don't use any trading bots? How about the fake trading volume every day on their sites? Have you ever seen completed orders that are less than the limit set on an exchange?

I meant my post to be interpreted as "Binance doesn't develop trading bots that it gives or sells to its users."

tvplus006

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To the Moon

Quote from: JeromeTash on July 30, 2020, 06:59:33 PM

Quote from: dunfida on July 30, 2020, 06:22:22 PM

He said it was a garbage because he might lost big time or significant amounts and blaming all of this in a bot without even realizing that the market itself is the main culprit
on why he had lost.Also a certain user should really have a knowledge on how to alter things up not just simply use up already set up without even knowing on what kind of bot
is that, yet you can check it out when it comes to its commands on how it should move on a specific period of market situation.
Also, he might be expecting that bots can give out guaranteed profits? Cheesy

I tell you, some people are really so lazy to an extent that if it were possible, they would prefer getting driven up to where the toilet seat is. Grin

I mean, where's the harm in trying to learn and figuring out how the market works and what you can do about it to make some profits without 100% relying on a certain bot?
That why they end up getting disappointed by the bot results.

Very often, the desire to use the bot arises from beginners who have not yet figured out how to trade and decided to shift the work to a trading bot. I have also previously used a trading bot and remained unsatisfied with its trading. But this was at a time when the price of cryptocurrency was constantly decreasing. It is possible that in a bull market, the trading bot would have made a profit for me.

Itsmylife

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Quote from: NotATether on August 06, 2020, 06:17:22 AM

Quote from: Alanin on July 31, 2020, 05:35:34 AM

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

How you know that Binance or other exchange sites don't use any trading bots? How about the fake trading volume every day on their sites? Have you ever seen completed orders that are less than the limit set on an exchange?

NotATether

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Quote from: Alanin on July 31, 2020, 05:35:34 AM

Edit: i dont know if these bots are from Binance themselves orjust sh*tty 3rd. Party bots.
Btw. So far im only studying their short-mid term strategy.

Binance doesn't make any trading bots so pretty much every trading bot you see is a 3rd party bot. As for their trading algorithms they are kept secret for the most part but they place trades often (I think?) so maybe they are using some variant of high frequency trading (https://en.wikipedia.org/wiki/High-frequency_trading).

slaman29

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Quote from: spike420211 on July 31, 2020, 10:50:20 AM

Let me tell you a secret. Almost all trading bots are garbage.
If you expect them to bring you profit, forget it. You're more likely to lose a fortune before you find that fool who sells you a fully working long-term bot.

Better spend the money on training and trade yourself, or find a better use for it than buying garbage.

Don't blame the trading bot though, blame the strategies. A really, really good bot just does its job well which is automation of trades.

If I had a good bot that I know sells and buys the way I want to, and not just following stop limit orders, I call it a good bot. But yeah, anyone expecting bots to bring profit just on auto's just bought into trading's biggest scam.

Anonylz

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Lol, shouldn't you be taking advantage of it just like what @Bitstar_coin said above! If I were you I will trade even more and predict the bot to gain more profit, or would you rather prefer losing on all your trades?
between am surprise binance don't know about this yet because am sure if this is a problem they won't hesitate to rectify it,
I think all traders in binance would be glade the bot is easily predictable and take advantage.

Bitstar_coin

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Maybe you are the first person I see that complains about making money from a self discovered flaws Wink

I would expect you to be more active with making profit from binance trading bot flaws since you feel it is easily predictable, if what you are saying is true am sure other traders like you must have figured it out too and take advantage of it, don't tell me you are the only clever trader in binance.

Latviand

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You really have freedom to choose if you will choose their trading bot or not.

You can read a lot of reviews or feedback towards their platform so that you will not be disappointed about your experience using it. Probably, you're saying that their bot is garbage because you didn't use it effectively as you use it. However, if you're a good trader and a wise investor, you will never settle the fate of your assets in using trading bot. You should know how trading really works manually, you should know how to read the market and not relying on the trading bots.

Quote from: JeromeTash on July 30, 2020, 06:59:33 PM

That why they end up getting disappointed by the bot results.

I'm sure that this is his mindset towards using trading bot. He needs to understand that there's no easy money in dealing with the market.

maxreish

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Op already cleared from his above reply that he is not sure if the bot was created by Binance. IMO, he is using some trading bot owns by the other company.
He was saying it was garbage because he can easy to predict it and opposite as what we are thinking because he is earning huge profits from it. Sorry, OP but once you are gaining from one particular bot, it is not grabage for you afterall.

Anyway, I do heard some feedbacks from using trading bots and i personally do not even tried it yet. I have my own knowledge, not to brag but if any of us can trade and earn without the trading bot, then why purchase one?

chaser15

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Quote from: BuNga_cute on August 05, 2020, 05:56:34 PM

C'mon dont say harsh if you have no evidence regarding Binance trading bots. To my knowledge Binance does not have trading bots.
Although I don't like using trading bots either, saying garbage is too much for me. If we are advanced traders using trading bots can be
profitable, so please stop talking harshly. It will hurt someone.

It's ok. That's OP's point of view. If he thinks that bots are like that then fine.

We are lacking information here on why OP claims that bots are garbage or predictable when applies to Binance.

If only he can share at least one of that trash, we can exchange analysis with him properly.

Topic: Binance trading bots are garbage - page 3. (Read 623 times)