Crypto Trading Bots - page 2. | Bitcointalksearch.org

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: JohnBitCo on February 03, 2022, 10:23:32 PM

Trading bots maybe useful for those newbie traders who have no idea of technical analysis. They may use crypto trading bots to do the trading for them because if they do it themselves they may incur more loss. But for the experienced traders, trading bots are not that useful because the human can better judge the market as compare to the artificial intelligence.

Their only use is automation of trades because it is not healthy for a human to stay awake for 24x7 and monitor the markets but let a bot do its job. Sleep is indeed the rest needed for every hardworking trader.

There are bots that can start an algorithm on detection of a specific market trigger preset by the owner, but these are more risky and the human judgement is obviously better here if this is being done by veteran traders. This should not be used by newbie traders because they could get washed away.

Then again there are those newbies who think they can use a bot and become a millionaire because of a false picture painted by some sellers. Nobody can help those people from parting with their money.

AicecreaME

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Quote from: Davidvictorson on December 29, 2021, 02:22:16 AM

We all know how volatile the crypto market is especially now. I have heard so much about crypto trading bots and their possibilities of automating the trading process and turning folks into crypto millionaires. For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I've heard about it but never tried it, sounds like using a script to automate your trade but I highly doubt that it's gonna make people millionaires, sounds too good to be true for me. The answer on your questions are already given when you doubt it why you don't see it using by the majority, simply because it's not working. Trading needs to be hands on, because you need to monitor the market as much as possible, you'll need that for your technical analysis to make it profitable as much as possible if you could.

JohnBitCo

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Quote from: Finestream on February 03, 2022, 06:11:21 PM

Quote from: Yamifoud on February 03, 2022, 05:59:47 PM

Quote from: GreatArkansas on January 19, 2022, 06:54:22 PM

Quote from: Davidvictorson on December 29, 2021, 02:22:16 AM

Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I haven't tried yet to use any bots to automate my trading.
But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss.
I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it.
So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.

Yeah, that all relies upon what we feed them. Trading bots will take action based on our configuration and it never makes any decision unless it was changed, and this is the reason why if we fail to set it right, that loss is certainly be going to happen. Plus, in times of abrupt change in the market trend, these bots will never make it change as well.
That it finds no wrong but if we are using this tool, see to it that we are in the watchful of the market and so we can make adjustments in the situation where the price trend suddenly changes its momentum.

The end scenario here is, its still you who are controlling the trade. So i think it will be a waste of money if we trust these trading bots when in fact they can't guarantee us that all trades will be profitable. Yes, they may turn us into instant millionaires but that will also depend on how we feed and handle them. Its like training a baby and watching him grow based on how we mold him. If that's the case, i will just be contented on my own trades and focus on how to improve it so as to minimize from having losses.

Trading bots maybe useful for those newbie traders who have no idea of technical analysis. They may use crypto trading bots to do the trading for them because if they do it themselves they may incur more loss.
But for the experienced traders, trading bots are not that useful because the human can better judge the market as compare to the artificial intelligence.

Finestream

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Quote from: Yamifoud on February 03, 2022, 05:59:47 PM

Quote from: GreatArkansas on January 19, 2022, 06:54:22 PM

Quote from: Davidvictorson on December 29, 2021, 02:22:16 AM

Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I haven't tried yet to use any bots to automate my trading.
But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss.
I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it.
So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.

Yeah, that all relies upon what we feed them. Trading bots will take action based on our configuration and it never makes any decision unless it was changed, and this is the reason why if we fail to set it right, that loss is certainly be going to happen. Plus, in times of abrupt change in the market trend, these bots will never make it change as well.
That it finds no wrong but if we are using this tool, see to it that we are in the watchful of the market and so we can make adjustments in the situation where the price trend suddenly changes its momentum.

The end scenario here is, its still you who are controlling the trade. So i think it will be a waste of money if we trust these trading bots when in fact they can't guarantee us that all trades will be profitable. Yes, they may turn us into instant millionaires but that will also depend on how we feed and handle them. Its like training a baby and watching him grow based on how we mold him. If that's the case, i will just be contented on my own trades and focus on how to improve it so as to minimize from having losses.

Yamifoud

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Quote from: GreatArkansas on January 19, 2022, 06:54:22 PM

Quote from: Davidvictorson on December 29, 2021, 02:22:16 AM

Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

I haven't tried yet to use any bots to automate my trading.
But my basic understanding of trading bots is it is more likely to follow your configuration if you set any, like your analysis or conditions when to buy/sell or stop loss.
I saw other trading bots are using pre-configured settings on tradings if you don't want to create your own. Or there are some trading bots platforms that some configurations are public and you can check how the configuration works and it's up to you if want to use it.
So overall for me, I can not say that using trading bots is not good, as long as you know how it works and you understand it, it's good for me.

Yeah, that all relies upon what we feed them. Trading bots will take action based on our configuration and it never makes any decision unless it was changed, and this is the reason why if we fail to set it right, that loss is certainly be going to happen. Plus, in times of abrupt change in the market trend, these bots will never make it change as well.
That it finds no wrong but if we are using this tool, see to it that we are in the watchful of the market and so we can make adjustments in the situation where the price trend suddenly changes its momentum.

TheEconomists

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If all this trading bots are working well why are owners are out advertising the sales of the bots and why can't them use the bots to make more money from trading crypto. I have experience it and I can categorically said it doesn't work. The owners are just after your monthly subscription and nothing else. Trading crypto currency is not meant for everyone just try as much as possible to discover what is meant for you that will profit you at the end of the day.

Kasabus

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Quote from: Taskford on February 03, 2022, 05:02:19 AM

Quote from: Quidat on February 02, 2022, 04:25:08 PM

Quote from: rby on February 02, 2022, 09:39:02 AM

Bot is artificial intelligence that someone program with a certain algorithm. It is program to buy at a particular low and sell at a particular high. Don't forget that the market operates or works on demand and supply.
If the demand and supply change, the bot will do unexpected and may finish your fund.

They wouldnt become crazy because they would follow on the command on which the user had been set out and they wouldnt really just out of control and make your fund bust.
This is just a common misconception for most people that bots could really make easy money but its not how it works and you would soon realize it when you do
make yourself get in hand on using bots and would tell that those beliefs are totally not real at all.

They think that way because this is how the bot seller or referrer tell to them and mostly they show positive stats that's why many newbies think about earning huge money upon buying their own trading bots. If they could just realize that they are just wasting their money for that program for sure they will not think about availing that and they will find at the long run that manual trading still the best method after all.

Crypto trading bots can generate profits but not every bot is profitable. So there is still no guarantee that losing will never happen. But i don't see myself trusting more on these trading bots because the risk is even higher. So its still the best option to have your own method and follow your own trading strategies as it will most likely to gain more profits than these crypto machine programs.

carlfebz2

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Quote from: Taskford on February 03, 2022, 05:02:19 AM

Quote from: Quidat on February 02, 2022, 04:25:08 PM

Quote from: rby on February 02, 2022, 09:39:02 AM

Bot is artificial intelligence that someone program with a certain algorithm. It is program to buy at a particular low and sell at a particular high. Don't forget that the market operates or works on demand and supply.
If the demand and supply change, the bot will do unexpected and may finish your fund.

They wouldnt become crazy because they would follow on the command on which the user had been set out and they wouldnt really just out of control and make your fund bust.
This is just a common misconception for most people that bots could really make easy money but its not how it works and you would soon realize it when you do
make yourself get in hand on using bots and would tell that those beliefs are totally not real at all.

They think that way because this is how the bot seller or referrer tell to them and mostly they show positive stats that's why many newbies think about earning huge money upon buying their own trading bots. If they could just realize that they are just wasting their money for that program for sure they will not think about availing that and they will find at the long run that manual trading still the best method after all.

This is actually true because noobs do usually find out and believe that theres some sort of easy dealing with trading which they could make out easy profits just like been mentioned above thats why they are finding these information and there are people who do really offers and sell bots which they do claim out to be effective or profitable on dealing with the market.

Crypto trading bots is indeed for automating your trades and you are still the ones who do make out adjustments for it to work.

Dont treat it that it would work on making money because it is really just following on what you had commanded.

Silberman

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Quote from: jaberwock on February 02, 2022, 03:55:53 PM

The difference is that, if the trader is a great trader, they can't check every single coin and every single pair 7/24 every single day. So if they are great, then they could implement the system they use to be great on a bot, with maybe like 100 different pairs and they could just leave it be. If they are as good as they think they are, then they would be making a ton of money but if they are not really good then they would lose money.

The only exception is that when the market is the bear market as it is right now, then most people lose money so it wouldn't really be fair to expect the bot to make money neither, it would probably lose a lot of money. I assume that the best way to use a trading bot would be to actually learn how to be great manually first, then only use it on the bull periods and closing it down when there is a bear market.

That is where bots really shine, while it is difficult to imagine coding your both to trade exactly the way you do, if the bot is anywhere close to your own level the bot can cover that deficiency by just trading 24/7 and by being able to trade way more markets than what any human trader can realistically trade, unfortunately even if this is the biggest advantage of bots they are seldom used that way and they are thought as nothing more but money printing machines, which is without a doubt the wrong way to approach trading bots.

Taskford

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Quote from: Quidat on February 02, 2022, 04:25:08 PM

Quote from: rby on February 02, 2022, 09:39:02 AM

Bot is artificial intelligence that someone program with a certain algorithm. It is program to buy at a particular low and sell at a particular high. Don't forget that the market operates or works on demand and supply.
If the demand and supply change, the bot will do unexpected and may finish your fund.

They wouldnt become crazy because they would follow on the command on which the user had been set out and they wouldnt really just out of control and make your fund bust.
This is just a common misconception for most people that bots could really make easy money but its not how it works and you would soon realize it when you do
make yourself get in hand on using bots and would tell that those beliefs are totally not real at all.

They think that way because this is how the bot seller or referrer tell to them and mostly they show positive stats that's why many newbies think about earning huge money upon buying their own trading bots. If they could just realize that they are just wasting their money for that program for sure they will not think about availing that and they will find at the long run that manual trading still the best method after all.

justdimin

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Davidvictorson on December 29, 2021, 02:22:16 AM

For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?

You can program to buy or sell at anywhere in predefined manner but after you buy, there will be no guarantee for the market for not falling down further Grin

. I mean trading bots are not about simply buying or selling at predefined levels but at trend changing points which may not be available well in advance to anyone hence we need to go for technical analysis. Technical analysis is a kind of sea sized monster and no one could cover it completely in coding. So, basically trading bots are half-baked bread which looks good for some people but most people find it bitter.

Quidat

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Quote from: rby on February 02, 2022, 09:39:02 AM

Bot is artificial intelligence that someone program with a certain algorithm. It is program to buy at a particular low and sell at a particular high. Don't forget that the market operates or works on demand and supply.
If the demand and supply change, the bot will do unexpected and may finish your fund.

They wouldnt become crazy because they would follow on the command on which the user had been set out and they wouldnt really just out of control and make your fund bust.
This is just a common misconception for most people that bots could really make easy money but its not how it works and you would soon realize it when you do
make yourself get in hand on using bots and would tell that those beliefs are totally not real at all.

jaberwock

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Activity: 2660

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Quote from: TheUltraElite on February 01, 2022, 12:09:17 AM

Quote from: pinggoki on January 27, 2022, 02:57:48 AM

That's because the people who use those bots don't have any knowledge in trading or is a competitive trader so it's going to be difficult for their bots to win trades because they don't have any skills in trading in the first place, maybe if they have a foundation as an individual then probably they can make some money in trading bots.

The bots run the algorithm that the trader places on them. So if the owner of the bot is lacking in knowledge on the market then the bot will never be able to make a profit. Bots are just an extension of an undead trader running their method to trade all day and night. Think of it like that and the ones who are thinking of buying a bot to make money will realize their folly.

Moreover, a bot does not guarantee profit, just like a computer cannot guarantee a problem to be solved unless the user knows how to do it.

The difference is that, if the trader is a great trader, they can't check every single coin and every single pair 7/24 every single day. So if they are great, then they could implement the system they use to be great on a bot, with maybe like 100 different pairs and they could just leave it be. If they are as good as they think they are, then they would be making a ton of money but if they are not really good then they would lose money.

The only exception is that when the market is the bear market as it is right now, then most people lose money so it wouldn't really be fair to expect the bot to make money neither, it would probably lose a lot of money. I assume that the best way to use a trading bot would be to actually learn how to be great manually first, then only use it on the bull periods and closing it down when there is a bear market.

rby

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Brotherhood is love

Bot is artificial intelligence that someone program with a certain algorithm. It is program to buy at a particular low and sell at a particular high. Don't forget that the market operates or works on demand and supply.
If the demand and supply change, the bot will do unexpected and may finish your fund.

TheUltraElite

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Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Iq45 on January 21, 2022, 01:20:11 AM

To take advantage of cryptocurrency markets, bots are used by traders, that trade 24/7 all over the world.

Sounds like the advertising spam I see everyday on crypto related sites. Not sure what you are trying to achieve here apart from increasing your post count.

Quote from: pinggoki on January 27, 2022, 02:57:48 AM

That's because the people who use those bots don't have any knowledge in trading or is a competitive trader so it's going to be difficult for their bots to win trades because they don't have any skills in trading in the first place, maybe if they have a foundation as an individual then probably they can make some money in trading bots.

The bots run the algorithm that the trader places on them. So if the owner of the bot is lacking in knowledge on the market then the bot will never be able to make a profit. Bots are just an extension of an undead trader running their method to trade all day and night. Think of it like that and the ones who are thinking of buying a bot to make money will realize their folly.

Moreover, a bot does not guarantee profit, just like a computer cannot guarantee a problem to be solved unless the user knows how to do it.

dunfida

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Merit: 1140

Quote from: Silberman on January 31, 2022, 04:39:38 PM

Quote from: AakZaki on January 27, 2022, 04:08:06 PM

Quote from: Lanatsa on January 24, 2022, 04:42:02 PM

~snip~

We humans and that's why people shouldn't really have that kind of mindset that bots could do anything, it is really just good for automation and would just follow on whats been set by you.

Don't mind about being profitable because of these bots but rather treat these things on what it should supposed to be and don't go past on the border line.

Most people think with robots they will make more money. Even I'm not sure about this. What I do know is that trading robots also use human-made settings. They used predictive parameters from their analysis. So don't expect auto click auto profit. Many in my country take advantage of the existence of trading robots to find affiliates. So they benefit not from trading but from getting new members. I think you have to be very careful not to be easily swayed by unreasonable offers. Those are some of the reasons I have never used a trading robot to trade.

And that is the main problem, people think of bots as automatic machines that makes them money with no input or effort on their part, and if that was the case then why the one selling the bot would go through the trouble of doing so if he could instead just turn on their bot and make themselves a millionaire? The truth is that using bots is just as difficult as trading manually, however due to the automated nature of bots the challenges you have to face are slightly different.

Most bots are already been set with specific strategy and could really be changed up depending into the ones who do tend to make use of it and its truly for automation but people does have really that wrong idea

to believe on that they could really assure profits which is really a bad kind of belief or mindset for you to stick up on your mind.You are still the ones who do make out some strategies or make out some

command on the bot for it to function according to your likes or settings.Its for automation nothingless and dont expect something like that.

Silberman

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Merit: 1338

Quote from: AakZaki on January 27, 2022, 04:08:06 PM

Quote from: Lanatsa on January 24, 2022, 04:42:02 PM

~snip~

We humans and that's why people shouldn't really have that kind of mindset that bots could do anything, it is really just good for automation and would just follow on whats been set by you.

Don't mind about being profitable because of these bots but rather treat these things on what it should supposed to be and don't go past on the border line.

Most people think with robots they will make more money. Even I'm not sure about this. What I do know is that trading robots also use human-made settings. They used predictive parameters from their analysis. So don't expect auto click auto profit. Many in my country take advantage of the existence of trading robots to find affiliates. So they benefit not from trading but from getting new members. I think you have to be very careful not to be easily swayed by unreasonable offers. Those are some of the reasons I have never used a trading robot to trade.

And that is the main problem, people think of bots as automatic machines that makes them money with no input or effort on their part, and if that was the case then why the one selling the bot would go through the trouble of doing so if he could instead just turn on their bot and make themselves a millionaire? The truth is that using bots is just as difficult as trading manually, however due to the automated nature of bots the challenges you have to face are slightly different.

AakZaki

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Merit: 1084

zknodes.org

Quote from: Lanatsa on January 24, 2022, 04:42:02 PM

~snip~

We humans and that's why people shouldn't really have that kind of mindset that bots could do anything, it is really just good for automation and would just follow on whats been set by you.

Don't mind about being profitable because of these bots but rather treat these things on what it should supposed to be and don't go past on the border line.

Most people think with robots they will make more money. Even I'm not sure about this. What I do know is that trading robots also use human-made settings. They used predictive parameters from their analysis. So don't expect auto click auto profit. Many in my country take advantage of the existence of trading robots to find affiliates. So they benefit not from trading but from getting new members. I think you have to be very careful not to be easily swayed by unreasonable offers. Those are some of the reasons I have never used a trading robot to trade.

Silberman

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Activity: 2534

Merit: 1338

Quote from: Lanatsa on January 24, 2022, 04:42:02 PM

Quote from: Silberman on January 24, 2022, 04:32:52 PM

That is one reason many people do not like to use bots, some use bots to look for profitable signals as bots are way faster than any human at finding opportunities and monitoring the markets, but at the end the ones that take the decision to trade the markets is a human trader checking that everything is as it should be, however the people that do that do not rely in a third party software and most of the time they code their own bot so they avoid to reveal the strategy they are using to trade the markets to someone else.

Bots are created by humans so expect that human would be still superior out of these bots and it was created for the sole purpose of automation and the ones who had set out those commands?

We humans and that's why people shouldn't really have that kind of mindset that bots could do anything, it is really just good for automation and would just follow on whats been set by you.

Don't mind about being profitable because of these bots but rather treat these things on what it should supposed to be and don't go past on the border line.

In terms of skill without a doubt a human is way better than a bot, however there are things in which the bot is without a doubt superior to a human, just to give you an example, lets suppose that a human tried to trade 100 different assets at the same time, regardless of the level of skill he may have monitoring 100 assets is not possible, however a bot can do this without any problem, if the bot is the kind that just sends signals then the human trader can just follow the signal and take a quick look at the market and see if there is an opportunity to trade the markets and if there is they make the trade.

pinggoki

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Quote from: Iq45 on January 27, 2022, 12:24:30 AM

Not every bot is profitable, actually, most aren't. So, Ideally the bots actually generate a profit and ideally that profit is greater in risk-adjusted terms than had you have just bought the same coins and held them throughout.

That's because the people who use those bots don't have any knowledge in trading or is a competitive trader so it's going to be difficult for their bots to win trades because they don't have any skills in trading in the first place, maybe if they have a foundation as an individual then probably they can make some money in trading bots.

Topic: Crypto Trading Bots - page 2. (Read 907 times)