Topic: Crypto Trading Bots - page 4. (Read 885 times)

I'm using it, continuously.
In my opinion, everybody here is right:

- they don't do anything that you couldn't do yourself, even the best ones
- they do save you time, especially if you're into scalping and trading multiple assets at the same time
- they will lose you money very quickly if not programmed correctly
- and it is good sometimes that they can't be shaken by emotions or adrenaline rush.

My reason for using it along with my manual trading is that I like coding in general and I do everything myself, so I get my daily dose of excitement with every small achievement. I don't make any losses, well past that lesson using 'paper' trading account.

You still need to adjust a lot of settings, do your testing, re-adjust settings accordingly and so on; plus to code and implement your own buy/sell signal since it is an expensive exercise testing paid signals to find what might work and which ones to stay away from. If 'paper' trading option isn't available to carry out testing, then you're destined to fail, regardless.
Not to mention the time and effort required just to get it going.

Each to their own, but it definitely isn't something that will work out of the box and make profit - we'd all die of starvation if it did - because nobody would be producing anything any more but rather be trading, having heaps of money but nothing to buy with it!

That's my 5 cents.

trading bots will only work for you in a positive manner if you know how to program them. if you will let the bot do all the works, i don't think you can achieve what you want here. i do agree that as much as possible, better do your trading on your own, because in this way, you will also learn new strategies that may improve your trading skill.
also,  don't assume that  paid crypto trading bots will always give you profits, because it is not. there's more than meets the eyes in using these bots.

This will work if you have big capital and such professional trading skills. So that you will also get millionaire (but we don't know how long you will get it)/ And if we are also a small capital trader, we can also reach that amount, but not know when to happen.
The exact thing is that not all trading bots will work well as we expect. Many free trading bots are shit and they are harmful to us moreover for us who don't know exactly to use it and only follow other people.
Some people use paid or AI trading bots in which they are smarter and more advanced. But it doesn't mean that the trading bots will always give profits every time.

Trading bots are indeed only as assistants or as a substitute when we cannot monitor the market continuously and to do trailing stop losses and several other tasks.

some Bots are provided for free even in the trial period all features are provided. Premium bots certainly have many useful features.

But I don't always depend on Bots, manual trading is still the number one choice because we have full control. don't get caught up in scammer trading bots which will certainly harm users. always be careful and do your research.

Trading bots keep popping up, long lost ones reappear under another name but the features remain. this will keep repeating. I have never used a trading bot during my trading, I rely more on technical analysis than having to rely on bots, most bots nowadays are just free bots that are converted to premium. Scam trading bots are also widely spread.

To get some idea on trading bots, you can try any bot as most of them are coming up with free trail for certain time period and if you find them good to go with, then you can buy a subscription to continuously use them. You do not need to remain about trading bots as a mystery; because most people do have good opinion on bots until they start using them personally. I have tried different bots in my trading career but not right now not using any of them.

Trading bots might be useful for few repeated tasks like for putting trailing stop loss or when market is jumping in price levels and you are unable to catch the right price then bots may help you to detect a better price to enter or exit. Other than these, I could not find any other useful tasks from bots.

Of course, because it cannot make everyone profitable, also, if you subscribe to a crypto bot, you have to pay for the premium and the amount varies depending on how popular the trading bot is. Before, I believe there's a lot of trading bot being introduce to the market, but now, it seems like they are gone because maybe people have realize that trading bot does not work in the long run.

If they use trading bots without knowledge about trading, it is absolutely that they just waste their money and time. That is really not advisable for them and instead of learning how to use trading bots, they'd rather help themselves to learn first and focus on improving their knowledge and skill as this will not just give them the passive results but this helps them to realize that trading is not an easy job.

Maybe I could say that trading bot is also good but have to accept that this is not meant for everyone.

Crypto trading bots are computer software that manage the trades.

That's what I always say to my friends who consider using trading bots, if they don't have any experience trading or they don't know how to do a trade themselves that generates profit then how will they generate that profit in a bot that only follows your instructions, a bot will only be as good as it's owner and the specifications that that person has added to the bot.

If those crypto bot were turning people into "millionaires", then everyone would have been using it and be a millionaire by now. They are not using it as much as they should  because those kind of bots doesn't exists. If someone wanted to sell you this bot claiming that you can be a millionaire, he probably is trying to scam you. Why would he be selling it to you when he could be using it? Why would he even have to sell you for money? He is already a millionaire. Bots can be configured to steal your funds. Bots can malfunction and you might end up losing everything. So I would suggest you to stay away from those kind of bots.

This means that traders are preferred to do trading manually than having these machines. As with this kind of market situation, bots can't perform that much as we can do personally, they are just following commands and they will keep that command until someone will change it.

Although I didn't fully know about trading bots as I just used them once and based on my experience, that can't be reliable. It is better to do trading manually as our chances to gain profit can be unlimited and we also learn more which is very important.

Yes, trading bots are simply programming codes and even it is not having any bugs, we cannot expect it to remain versatile to handle all kind of market fluctuations and keep getting you profits. So, technically trading bots are having very limited probability to get us profits still the losses could be unlimited (if there is a guarantee about limited profits but zero losses then we can still go for bots ).

It has been stated by many traders who had long experiences with trading bots that manual trading is multifold better than bots on all kind of market situations.

One of the flaws of trading bots is that they are only as good as your code, meaning that even if you have great instincts about the market and how to trade it if you cannot put this knowledge into the bot with your code then your bot will always be a lesser version of yourself, also we need to remember that many times when you code you make mistakes and bugs could be in the code, now most of the time this is not really a problem but it becomes a huge one when we are talking about a piece of software using your savings to trade the markets.

Basically that made me think shady against those bots in reality, people getting rid of it due to lots of scam accusations. Somehow it was paid by large whales community that's also using it to deceive people and then fell into their fraudulent tactics. My perspective on this matter is to learn trading all alone and successfully gain full knowledge in perfect time.

As once it was fully set up, the bots will run on their own until we turn them off. If there is an abrupt change in the market that can be difficult especially when we don't monitor it and that surely it coz losses. It all just relies upon us, if we fail to make a good command, surely it never works and it will fail.

Trading bots could be somewhat useful for those who have limited time in trading but if we have enough time to perform it, I guess we don't need it anymore.

Safer on the sense that you could directly stop whenever there are sudden changes in the market specially if there are news or fundamentals around which you could really make out

some arrangement or changes in to your trading style or indicators which would make you decide directly whether you do stop or continue.For trading bots then you could set out those
specific commands and rules but of course there would be no human intervention kind of reaction as these bots would continue on whats been set up and thats the cons it does
have but i do still find it relevant because automation is really helpful when you arent doing something.

Then what are the difference between those automated bot and limit-stop-loss order? Because you sound like what I have been using in the name of limit orders? Limit orders will buy or sell when I set them up higher or lower than current market price levels.

Does your bots are capable of finding stop-loss levels if you feed where you need to enter? When a bot needs our command every time then it cannot be appropriate to call "automated" .

Yeah, there are different kinds of bots are available and each will do different tasks hence n general we cannot have negative opinion on all bots but practically what I found is I am a better trader than what was voted no:1 crypto trading bot in 2020 by few review portals.

I know that manual cryptocurrency trading is preferable than bot cryptocurrency trading, bot trading it is finance it use to run in the form of subscription and when bot start is action of trading it can not be regulate in such away that you will stop the process of it like manual you can pause the transaction or the process, you have to wait until bot complete it is programming work, i agree with your suggestion bot trading can  not be recommended by me

Cryptocurrency trading bots are automated trading systems that works on behalf of the investors.