Topic: Bot trading domination: Time to panic? - page 3. (Read 653 times)

What about quantum computers in the prediction of the market events? There are rumours that the biggest banks already are creating departments dedicated to analyzing and predicting the market.

Don't you think it's inevitable? I mean just for once forget about trading. Every sphere is dominated highly by bots and computers today. And believe it or not we are going to compete with these bots in every sphere. Drivers are being eliminated due to auto pilot cars who are bot driven. I am not threatening anyone but one should take this as an opportunity to shift correctly. Many such bots aren't complex they are just there to make trading more mechanical without any emotions. They just make the trade setup automatic and an algorithm which triggers a trade whenever that setup gives a trigger. I think learning any code language little bit can really help you create such algos however another disclaimer i would give is to avoid buying any proprietary software for trading. Better get some tailor made software created.

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I think instead of flexibility trading generally requires a lot of discipline which is really difficult to maintain along side human emotions which is why bots are growing. Doing manually may give you chance of changing your strategy but truth is 80% of times you lose because of not sticking to your strategy.

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I think they are perfect which is why they are better humans can make hundreds of mistakes while entering a trade while a bot would never make any such mistake and would follow exactly whatever it has been told to do.

If you think that there is a change in the market regarding the trading trends and everyone is making use of bots and artificial intelligence to get the maximum benefit as a trader you should change too and there is nothing you can stop these advances, so changing with the situation is the best option if you think that bots are dominating the market.

I have always agreed to this. Doing it manually is much better. There are those experts in the use of bots. Well, they must have found the best ways to handle a bot. And they are full time traders. They know better how everything works. As for me, however, it seems bots are too limited I cannot make the best out of them. When bots try to compete with my order, I let them be. It is a waste of time to fight it out with them.

I do believe that the 'panic' OP talking is about how we will trade with regular way ( manually buy and sell while lots people will be using bots to execute trades). It is not panic about selling bitcoin or any coins in the market.

Panic like when everyone is riding motorcycle but you just using a bicycle in terms of trading so you don't have enough energy and speed to trade.

Why do we have to panic in this situation? Just look at the current price does that mean we really have to panic? Bitcoin dominance is just around the corner and it will never fail us. It is us only who failed because we think too much and that's the reason why emotions should have not get involve in our trading activity.

^ Calm down, we should not do panic like this. Bots are sometimes got an error because of humans because we set the bot in trading to cut the loss and cut profit in which percent we like to get profit. Technically speaking, not all bots are the same set in trading there is a chance that it will fail. Because bot can not dominate the algorithm system in trading and it will not work their own without any person to set the bot.
There are too many trading bots out there and until now we did not realize that we afraid of this for domination of the market.

First about bot manipulating price, does this happen in centralized market or also decentralized market?


There are also bots that you can use to execute your trades, not only to predict price movements. But they aren't perfect, they are just faster but not smarter than human.

Bots are preprogrammed to create predictions, always rely on your specific decision. Making a good moves is dependent on how you initiate a smarter trades, when market starts to increase a potential gains. Doing it physically is much better than virtual strategies.

Is your bot has high win rate or if it summarize in one month, will it always have profits ? I don't think the bots could always do a profits in trading except just luck. And we don't have to worry about bots in crypto exchanges because it won't make any big difference because they just doing scalping and take so little profits.

if you know forex market, 80% of trader using bot trade, with some secure option, like cutlost or cut profit etc. 'but the manual trade still exit, i think its normal to trade bitcoin or cryptocurrency using bot trade, im use it too in local marketplace, just to trade in 2 trade, BTC-ETH, ETH-IDR calculation the transaction fee and the margin betwen rate and buy/sell wall.

bot trade running just by programing language, no have emotional, so its very safe for people who can't control the emotional when trading, but to maximaze the profit manual is the right option

i don't think there is anything to worry about and there is no need to panic about such domination, because the most important thing is about the crypto market itself, so that as long as the market is still available there then anyone still has the same chance to get a different return or profit because the dominance is only will make such a difference

Not only are bots failing during swings, they also lack the capability to analyze. They are used according to the limits set by the owner which means that bots are doing what the owner thinks is the best move. The problem is that the market is highly unpredictable. Not even bots plus the owner can predict what happens next in the crypto market.

I think it's best not to use a bot when trading When using a bot it is often a time of panic if it goes out of control Bots can be used for long-term trading because the bot works when it is bought and kept on hold It is also a problem in many cases that is why banning trading bots is a decade and it is better to trade your head with intelligence.

perhaps of concern is the effect of increasing the use of bots with more accurate algorithms. in fact the bot currently still has a weak point and cannot respond to all conditions automatically, it is still limited to tools that cannot handle strong swings, if the bot is not proven to interfere with other stock market activities that are clearly quieter than the crypto market, then there is no need to panic.

The subject of this thread is kind of absurd. It is somehow like "the market is dumping: time to panic?" I mean, why panic? Is that even an option? What now if the trading platforms are dominated by bots? Is that something new around here? That has been the reality even before. Furthermore, they are not as brilliant as a trader who does the trading manually. In fact we can manipulate trading bots more than they can manipulate us.

Bots have been on the exchanges for years. All cryptocurrency exchanges are full of bots. On Bitcointalk in the Marketplace section you can find plenty of offers for selling bots for trade. Bots that have banks can do several dozen transactions per second. This is nothing new because this has been the case for years.

There are probably tens of bots that is used at crypto trading, hundreds of them exists out there but most of them are not used that much so only about 10-20 of them are really used with a decent community behind it using it. If you talked with any of them you would know that none of them are happy with it, they are not making profits you imagine they are making and most of them even make a loss during bad times like this.

Almost all of them are used for btc-alt trading which usually makes a loss because alts are doing horribly, few of them used for btc-usdt and even they are not making anything decent these days. So there is nothing to worry about some trading bots that even the users are not happy about, just because they exists doesn't make them an enemy, it makes me just pity the users let alone be afraid of them.

Some bots do in fact use technical analysis. I recently setup Gekko on a Raspberry Pi just to play around with it and there's definitely some RSI, Bollinger Bands, and many other technical analysis algorithms built into it. I'm not exactly sure how well they work since I haven't messed with it long enough, but algorithms for things like that do exist. The majority of what you see running on Binance however are just buy low/sell high type bots though.

What people are forgetting that bots are programmed to do one thing, which is buy and sell, they could never predict the market beforehand, so they could be taken advantage of as well. There has been a lot of times when prices went literally bottom down (like 3 satoshi ethereum deal once) where a bot was actually trying to profit the owner but lost hundreds of bitcoins as well.

So, yes trading bots are doing something that we do not want as manual traders, or it helps people to level the field because not only rich will have bots but the poor will have the same bots as well, that is why bots are not evil in their presence, however that doesn't mean that bots are making it bad or good, they just exist like any other trader out there and can still lose money as well.