Topic: Bots, AI Bots or signals? (Read 800 times)

I don't want to offend you, but judging by the post, you will not earn in a crypto world. After all, a person who doesn't find the time and internal forces, in order to become better, is doomed to failure.
If you are still interested in my advice, then I recommend you to forget about bots and trading signals. You have something much better than those fictitious opportunities to make money, you have a mind. Just start learning. Do it right now. Start learning the basics: basic technical analysis, basics of working in the crypto market and read news from the world of crypto currencies. This knowledge will give you the basis and understanding of what to do next.
A bot is just a trading program. And if you don't understand what it should do and how specifically, the bot will make you bankrupt. Trading signals are a simple deception. The creators of such groups thus simply earn money from their members.
If you don't want to be deceived, and become a professional, then learn to trade yourself.

I think it is quite better for a trader to do trading itself. Don’t forget that loss is there always waiting for your catch up. But what we must do, to confront it and deal it very smoothly.

I agree with you. You need to trust either the experts or only yourself. And thanks for the link. There are really interesting offers

of course not, bots, signals or whatever you call them, I'm sure many people on this forum won't recommend things like that, because it's already a common thing that such bots only benefit the creator / developer, so, we as buyers usually only given initial profit, and later they will give fake signals for various reasons, it's better to trade by your own research and stop depending on bots / AI

I believe that it is most effective to trade signals, because I do not trust bots. But the main task is to find people who give good and high-quality signals. Good signals cost money, and rather big. And not all traders who take money, signals quality. Here it is necessary to analyze, and even better to find through their friends. Beware of scams.

I know 3 bots, Gunbot, Leonardo, CAT and ProfitTrailer. Among the 3 bots Gunbot is the most active around here and they even have a campaign about it (not sure if campaign is still active). Here is the link for more information about the Gunbot https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214. I am contemplating on buying a license for the Gunbot but I guess waiting a little bit longer would give me more discounts if they will run a promo this coming Black Friday November 23.

Well, is that not the main reason they are bots? No emotions, just your strategy in place. However, I realize that sometimes it may result to failure as there are some times in the market you may just need to quickly fine tune your strategy based on some of the things you are seeing, and that is one thing bots will never do. You set a command based on one strategy, and they execute it without any emotion.

Sometimes, it can be good and sometimes, it is always not a good thing, so one way or the other, even if you want to use bots, you still need to be able to keep tabs on what is going on with the market and relating it to the behavior of your bot at that moment which is why not knowing how to trade with a good strategy and experience, and trying to use bots will not help.

Well, as much as I agree with that, there are still some times when you may not have much time in your hands to trade the market, and execute your strategy intraday and you will most definitely need a bot to do that for you. However, I also understand that in most cases, when it comes to human, there are some times you will know it is a good time to just stay off the market, and that is one thing bots really will never understand.

As long as things are going with your strategy, they execute it and that sometimes may not lead well, which is why even if you use bots, that does not mean you should just rely on it completely, but at least still monitor the market once in a while to know if you will need to stop your bot based on the current market conditions or not.

That basic knowledge is one thing a lot of people tend to overlook and that has seriously affected their approach to the market generally. You cannot thrive well in this space without having to learn basically all the things you need to and then practicing to see how well you get. Relying on bots, signals or AI is a wrong move.

One thing I have learned over the years is that I can only trust my own judgment and as long as I am able to keep emotion aside, be confident with my strategy and execute it, then I am better off. However, there is no way you can have a strategy without having knowledge first.

Personally I have never used it and I would not recommend. Bot only fulfills your commands and this sometimes causes bad results. Boots only serve to irritate others. Sometimes I get angry about the boots and when I will rich I am going to sacrifice most of my money to destroy them.

I have seen some people that use Bots , but wise ones know that they shouldn't put all of their money into some bot , Still they have been made by humans and humans are not perfect , If you don't have time for trading I think Bots are good option .

That is always the thing with learning how to trade,all by yourself. Most people do not always get that gist, and are usually always looking for shortcuts or easy way out. Sure, bots most times can really help you to trade when you may not even have the chance, and execute your strategy without having to apply any form of emotion, but the thing with bot is that, there are some times, that you may need to fine tune those strategies based on the condition of the market, and trust me, bots don't care about that. The best way to trade, is to know how to trade and you cannot have the technical know-how without learning as much as you can.

Trusting someone else's advice is not the best way to invest. There are much safer and ultimately profitable ways. For example, crypto-indices are a cryptocurrency portfolio based on mathematical models. Currencies compensate each other - if one falls, the other grows. Profits will definitely be more than a newbie. You can do it yourself if it seems too complicated - or you can give it to professionals, for example https://icu.me/en/. The difference between index investing and muddy managers is that everything is transparent and based on mathematics, and not on what has occurred to a person you do not know.

Don't depends on signals or any bots. In a time they all can give wrong market entries. Therefore you have to learn trading strategies. If you become a good market analyzer, losing chance will be decreased 80% of your investment.

None of the above mentioned. There should be human intervention on trading. You cant rely on just bots that will trade on your behalf based on your instructions. We always say we should separate our feelings when we trade but in reality, we still need to use it when we trade and thats what Bots doesnt have.

Bots, AI and trading signals are some of the tools which make your trading activities more convenient and a lot more easier but it is your instinct, intuition,judgement and wisdom will decide of what's the best crypto for you. The best advise is do some research in each crypto like reading whitepaper,marketing team, dev team and their products or service and this will able you to choose the good trading strategies.

Bots are used for information, we can still verify it through signals as well as watching the prices at coinmarketcap. Bots might not be that accurate but still gives a much faster and decent result.

What you say doesn't make much sense at all. Why should a beginner pay attention to what's being recommended by others? How is a beginner going to seperate rubbish from actual worthwhile data that can be put to action?

That to me sounds like straight gambling. In that sense people just as easily can blindly buy at any price hoping to sell higher. In both cases you don't know what's going to happen, you'll either win or lose.

There is no point in forcing yourself to do something you aren't made for nor will ever understand. People wouldn't have to lose money if they flat out admit that they have no clue about what they are doing here and stop trying to trade.

Buy whatever coin you believe in and hodl it. It's not going to get much safer than that here.

Are you sure about this? Why bots sell their bot then they know how to analyze the market, then, if they know they were focused on trading, not convincing weak people who have to get fool into their bots group. You may use trading signals as your reference on your research but don't rely on them, probably they had a delayed broadcast that might be putting your fund on risk situation.

Now I use the TradeSanta bot and it's ok to use.. I think that trading bots should be new boom of the market.

The best one of course is trade and learn by yourself, if you just beginner dont try bots, because it's a bit hard to set the bot, signal group is recommended for beginner as a reference to learn, so you can learn from signal group the indicators that they used and what is the reason behind their speculation, but in the end you need to do the trading by yourself

For me 3-4 years is just for day trading. For doing long term trading I need couple months of failing learning will really improve your decisions. After 6 months of trading I think you will be kind of a trader. You won‘t make the most amazing decisions and catch everything but I think you will learn what to look for and what not.

My advice is leave bot, never use it. This time, we know many bots already release with " magic " software/ tools to make profit but only for beginning. By the time you'll realize your asset already dump into the bottom. Market is not mathematics ( theory ) but also include psychology that bot doesn't have. You need to practice with disciplines not bots. 

You can't do that without the knowledge and insight in crypto trading,
it's not like when you trade in forex or something. in essence, knowledge, experience and analysts are a must that traders have.

Personally I do not always subscribe anything that appears as the easy way out or lazy approach, it maybe be working for some but I have not often been successful with such. Whenever I hear bots, I imagine it to to a remote control that can run out of battery anytime, have tried following some signal channels too but noticed some of those signal channels do not even trade those signals the throw. Made quite some losses with them also. In all, it is always better to learn and do it yourself. It is the hard way to go but pays better at last

There's no major difference between crypto trading and forex trading. In an absolute sense, forex is definitely less volatile, but forex traders account for this by using increased leverage. In terms of price action and TA, they are very much the same. That's because price action in all markets is determined by market psychology and supply/demand. There's nothing that makes crypto markets fundamentally different from other markets. Most of the tutorials I read early on were focused on trading stocks or forex.

the Op will still need to learn how the crypto trading works to code properly you cannot write any program without the basic knowledge of the desired output, for Bots Op whether it is a paid or free version always be wary from viruses inside their programs, some of them might be infested with it some of them might not be working properly for a certain exchange or you need to calibrate the program a bit to work and see some good results that will force you to study the interface.

i would suggest u to learn cryptocurrencies trading and then start learning to trade on youtube and trade never fall in signals and bots u may lose ur crypto trading account forever

Okay, thank you very much, I will take a look on your overview.
I am going to start learning about the trading. Do you think that there is any diffrence between classic forex trading and crypto trading (if you consider strategies)? Because crypto market is more volatile right?

It is possible, and there are plenty of bots that do this. They can definitely be used to implement candlestick and indicator strategies. But this does you no good if you don't understand how to build a profitable strategy yourself.

If you just run the default strategies, they usually won't be profitable because if everyone is running the same bot parameters, they cannibalize each other and lose their edge over the market. This is one reason why bots in "paper trading" mode can look profitable, but in "real trading" mode will lose money. In "real trading" mode your bot has to fight the market for limited liquidity. I also find that successfully using TA has a significant visual element. It requires a trader to recognize confluences of different factors. I find this extremely difficult to translate purely into numbers and code.

If you're really interested in bots, there's a decent overview of available crypto-trading bots here. But I would really stress the importance of learning technical/price analysis before using a bot. Bots are for advanced traders, not inexperienced traders looking for passive income.

Yeah, but I still do not understand why there is no bot, which is able do these things: candlestick analysis, chart patterns, trend trading and breakout trading?
Because these things are the real signals, right? But why there is a problem with creating a bot which will recognize these signals for us?

That's right. Sorry to say, but there is no "get rich quick" solution with cryptocurrencies.

Yes, it's possible to make a profit by trading. But just like in the regulated world of fiat currencies and stock exchanges, the people who make profit are those who put in the time and effort to become professional at it. You can't expect that there will be some magic bot or signal that gives you unlimited profit guarantees.

Having said that, I would concur with what many people have said here, and recommend that you start manual trading before using bots. If you're really interested in learning how to make a profit through trading, you need experience that you'll only get by manual trading while studying the advice of others. After doing this for long enough, you'll develop some expertise that you can then apply to finding the right bots or signals that assist your own trading strategy.

Good luck with it!

I think using bots is not easy because some not know how to do that and I think few people know how the strategy of a bot to trade. Much better that you are the one who will trade not a bot because I think it may bring you to a big lose.

The more people running these bots out of the box, the less profitable they are. I’d be surprised if they have an edge at all in this market given how sophisticated algos have become.

I learned trading by, well, trading. And then learning from my mistakes. No matter how much “book learning” you do, or how much you trade with demo accounts (no risk), it’s no replacement for actually trading. Traders often refer to early losses in their career as “paying tuition” because it’s like going to school and paying for it.

I would read some basic tutorials on things like candlestick analysis, chart patterns, trend trading and breakout trading, and how to use oscillators. Then start paying your tuition.

Nope


here at bitcointalk there are some, but you should ask yourself:

if the bots are very good, why would bot creators sell their bots?


I do not see people posting their profits from trade made by their bots, so it's very hard to know, but I've seen a lot of people complaining about bots


do not believe it, this would be a big mistake and waste of time and money


do not buy


Dude, practice with small amounts and watch videos on youtube about trade

Okay, okay guys  . It seems that it is not as easy as I thought.
I have heard that many people use 3Commas or Cryptohopper bots, but probably it is also hard to configure them right?
Everyone is talking about DYOR, or learn on yourself, but I have heard that you have to learn about 3-4 years before you start trading. 

Think about it. Would people be giving out "signals" if there's nothing up for them? They're pretty much there to only make money off you.

You want to do trading, learn technical analysis. There's no other way around it. Or maybe you want to play roulette instead by gambling on random crapcoins.

I've never had good results from signal groups, as most of them are just pump-and-dump groups as mentioned above in this thread, and it does take some experience to configure bots for best results. Bots do work, but it's not as easy as it seems and configuring bots is a whole 'nother game compared to simply trading manually, and it does take a pretty hefty initial investment to even get a basic bot license, though prices differ depending on what bot you purchase. Not really worth it in the end to trade with a bot IMO, with all the maintenance that is required on the bot itself- and even after all that, you're gaining relatively small profits.

i'm big on manual trading myself. the way most newbies view bot trading is too good to be true. you can't just set it and forget it. successful bot trading requires you to constantly tweak parameters based on trading conditions. and you need to be vigilant because programming errors can easily cause bot malfunctions that can blow up your account.

a trader friend of mine (also a coder) told me he would never trust a bot he didn't code himself. you certainly want to stay away from closed-source bots.


you're better off learning TA and generating your own signals. paid signal services are a ripoff. if the people running them were successful traders, they wouldn't be nickel and diming with paid signals.

the only paid tool i think is worth buying is "SCMR trends" by SPYderCrusher. it's an indicator set that works on tradingview. it generates useful signals that basically tell you when to pay attention---potential reversal bars, high volume bars, etc. it also helps you find good stop/target levels.

trading is not an easy thing, not just following signals and cheap bots. if you only profit, it only happens at first, try to learn from the website or youtube, lots of tutorials there, or in this forum. if you depend on bots or signals like that, it will only benefit the owner of the channel, even though they have many members

Instead of using Bots I think your head should work better at situations like that, you can lose serious amount by just following bots plus you will never learn the trade basics and trading blindly can actually turn disaster so maybe just think twice. Learn to trade first before doing any of sorts

Trading signals are really a no-no as they are the old fashioned pump and dump schemes that hide as philantropist giving good projects with good profits. Based from what I read what really matters are the DYOR thing that you must do whether it's on the fundamentalist standpoint or the technicals.

Bots can screw up with bugs and also with errors that can't be programmed in one way or another. Though human psyche can be predicted but you can only do so much with bots

Yes, as I said there are also channels work like that. But these real signal guys have free channels too. They give less signals but quality ones. So you will only get 2-3 signals per week but you have the option to try these signals. Not just send money and found out that you got scammed.

When I was looking for quality signals, I always first watched 3-4 signals for how it goes. Is it a scam or not? Then I was trading with the same guy. I even paid one of the groups for 3 months and it was really good actually. But problem is I found %80 of these groups are only pump dump groups or scam groups that share the same admin. They take the money from people and run away.

For you, I think best is watch the signal groups (just look how their signals go) and find a good one. While trying to earn from signals, you can start trying trading on your own with just 30-40$. You will know what you have learned after 2-3 months of trading experience. So in this way, you can still earn from signals and learn how to trade yourself too. You can always send me a PM if you have any questions. I love helping people when I really can.

If i be you i will learn by myself, trade with my own analysis and if i loss, i know what is my mistake. Bot , Signals, or AI wouldn't really help you in future when you want to trade alone.

I found a free service of TradeSanta until January. I use it only a couple of days - but it seems ok so far. They have Bitfinex for sure, I'm there too

Hey there! I want to try to trade using a bot. Could you advise me some bots that are integrated with Bitfinex?

If you know some Python programming I'd suggest you to make your own so even if you will fail with it at least you will teach something . I won't recommend you to put money in a bot that you don't know how it works

Theres no easy money on here even there are bots it doesnt mean that you just sit down and let the bot makes money for you. These tools are just good for the automation of the trade which means settings will always vary on its user or certain trader.If you do like to start trading then you should learn on your own and start from the basics.Dont rush things up since this thing cant be learn overnight.It takes years or how many months of experience before you become profitable.

Are you 100% sure?
Maybe I will stop thinking about buying signals, a lot of people here have a negative opinion about that.
Thank you for your opinions guys!

There are definitely bots that trade on their own without any input from the trader. But are they consistent and stable in terms of profit? Most likely not the case. Some good traders just use bots to automate a good amount of their work, but it doesn't mean they just turn on the bot and sit around watching movies with a bag of Doritos. The good ones frequently update their bot's algorithm to do better, depending on a lot of circumstances.

If you want to waste your money, then sure.

In my opinion, this is not a market for technical analysis or announcements. This is a market of psychology. If you catch the whale's psychology and know when it will pump or dump. you will be rich. if not, you need to join the group to learn more about the news more underground.

He's actually right. Nothing comes off easy. You have to work hard for it. There are so many online resources now like YouTube and other trade analysis platforms. The best you could do is try to do some digging while also trying to practice trading with some small funds, with time you will gain experience. This helps you to avoid getting scammed as there are so many scammers out there waiting to trick you in every way possible.

Oh, you are so pessimistic about this matter.
I thought that it is more easy, you pay for signals and sellers are earning from subscription, so they should deliver the best signals to attract investors or?

I saw many people trying to earn from bots but I only know few guys who are successful and they wrote their own Python code because they already knew the trading techniques. For me, bots are like a money trap.

I can understand you are new and you want to make millions in trading. But if you want to be a day trader, you really want to learn the trading techniques and control your emotions. I was a day trader in Bittrex when it was glorious back days. And in first times I lost %35-40 of my money because of FOMO and trying to catch the signals from trading channels. Sometimes you just make some profit and it feels like you are the king of trading, don't be foolish like me, please.

Signals actually work but for who? The problem about signals is there are many signal channels and most of them are just pump dump groups who are screwing over followers. For example; they buy a coin with a good amount of BTC in 18.59 and send the signal through 40-50 channels in 19.00, then tokens goes more up and they sell at a higher price. In the end, token goes to the price it was in the back and other guys are screwed. If you really think there is a guy who sells real signals. Then I have nothing to say. Because I remember I found some guys that they sell TA/FA analysis with real data. Well, they eventually sold the channel for a good price and new owner screwed over everyone. So I can't say it is trustworthy. Just join into a community and join the conversations. Mostly it's like everyone has their own signals. You need to learn the facts why it should roof and evaluate if it's true or not. Check the crypto news or future events in cryptocurrencies. That's one of the important things.

But for me, the most profitable thing I did was research. I was too bored while trying to learn trading techniques. So, I was just reading blogs and finding new coins, reading their whitepaper, checking their team, checking their updates, looking for the community. Then I started to evaluate these coins in my head and find the best. Invest in it and WAIT. Patience is the key for my strategy. You can just search in Google "promising cryptoprojects", there are tons of blogs and Medium posts about them.

Hello, I would like to start trading, I am not expert, so maybe the best what I can do is to buy bots which will trade for me.
Do you have some good experience with some bots? Could you kindly recommend me some? Are there some fully automatic trading bots that are trading and earning without any knowledge?
And what about signals? I thought someone here, who is selling signals from 400 channels.
Thank you for your help, I will be your referral if you give me a great tip.