Do people actually use automated trading software like Gunbot?

pooya87

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

i have not used Gunbot or any of the other bots out there, i have my own so i can not make comment on their software but from what i can see the problem with these people selling their software is that they bought it only because of false advertisement.
if you look at these bots, they have an affiliation program which you can get paid if you refer someone to buy it. so the internet was filled with spams of lots of idiots advertising these bots as magic where you just click a button and the profits start pouring into your pocket. so desperate newbies who didn't know what trading was started buying it and then while using the bot they not only couldn't make money but also lost a lot so they are now trying to make some of it back.

as i have always said, a bot is only a help to a trader that is already making profit at all times with every market status. if you can't do it already then a bot is not going to change that for you.

jseverson

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Quote from: PyraCrypto on March 21, 2018, 04:27:37 PM

Automated trading software is actually beneficial, but most people don't trust them, people tend to trust only in themselves.

Well they're only really beneficial if you're good at trading yourself. You tell the bot what to do after all. But yeah, I guess it would be hard to trust bots if you haven't seen the code; there are lots of things that could theoretically go wrong, from API bugs to timeouts, etc. and all of those have to be accounted for.

Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

Bot vendors do not sell automatic returns. They sell a way for you to automate your trades. If you can consistently profit by day trading taking advantage of arbitrage and stuff, and are able to quantify your personal trading rules into variables, it's likely that you'll generate a profit.

wiser

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I've traded in markets where it was clear bots were at work so I know people use them. I agree with what a lot of other posters said here, which is that you still have to program the bot, which means you need to know what your trading strategy is, then the bot can carry it out for you 24/7.

If I ever figure out day trading, I'll probably use a bot. I'm just not much of a trader so it hasn't been a priority.

9jaflick

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

i have not actually try Gun automated trading software, the one recent trading with is the Autonio AI Trading app, and it work superb!

Thirdspace

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

because a bot can do tasks or strategies consistently without emotions Cool

if you have found and implemented good trading strategy on a bot, you could have steady profits in the long run
if you do it by hands, you (human) Tongue

would have second thoughts and mood swings which resulted inconsistency
and would likely to deviate from original strategy that leads to unexpected outcomes

dothebeats

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To begin with, these bots are designed to react faster than any human trader can do whenever an opportunity is presented. A split-second trigger and automation is what these trading bots do to aid traders in their intraday trading. Also, these bots can oversee trading patterns and analyze a growing market sentiment that humans can't do fast enough to react and enter a position. Aside from that, it can automatically close a position faster than what exchanges can do on their stop-loss feature. There are a lot of benefits in using a trading bot, but that doesn't mean that you'll automatically profit with it without doing some tweaks and whatnot.

PyraCrypto

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Automated trading software is actually beneficial, but most people don't trust them, people tend to trust only in themselves.

bill gator

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Quote from: OgNasty on March 21, 2018, 01:09:49 PM

Quote from: samp123 on March 21, 2018, 03:48:30 AM

Is there any public and verifiable evidence that it produces returns that outperform the market?

Setting up a public thread to document real returns and actions would probably be appreciated by the community.

You can mark me down in that category. I would say that it is more than probably, and closer to almost certainly. I can't imagine that it could possibly have a negative effect if done properly. I've heard some real horror stories about these sort of programs, but the developers normally chalk it up to "bad settings" or something along those lines. It would be nice to have a place to discuss the real world outcomes of these programs, but I've found myself avoiding such software because of the horror stories of these programs trading away entire balances and taking huge losses without explanation.

OgNasty

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Is there any public and verifiable evidence that it produces returns that outperform the market?

Setting up a public thread to document real returns and actions would probably be appreciated by the community.

MintDiceSupport

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Yes it is utilized but as another post above said, you still have to know what you're doing. It's useful because it will make consistent trades depending on the customization and strategies you elect--this could be seen as beneficial for someone who is prone to make too many moves based on emotion. That said, these bots are merely tools not solutions.

kahc

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

I use a trading-bot myself, not Gunbot though.

To profit in the long-term one would need different buy strategies for different market conditions, example Bear, Neutral and Bull.
Most people will be better off sticking to the regular trading, or hodling.

anobtc

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

I may say yes cause i see someone use software like that. That software use algorithm to analyze indicators which were programmed. So it'll place a buy and sell order follow user setting, but usually it sell when profit hit some percent Grin

hypev2

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Yes, I know people who are using trading bots. (hell, I know a guy who is developing a bot to trade as well). Personally, I was really interested in the Gimmer Trading bot project, wanted to give it a try as it is a hassle to log in to multiple platforms and do trading every day. Unfortunately, they backed out of the ICO while it was running very well and now claiming to restart the ICO later on. Lost my interest due to that. But most important thing using trading with bots is don't let the bot (or the platform) control you, you should control the bot to maximize your profits. Else, it will be same as gambling.

lizardbtc

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Quote from: samp123 on March 21, 2018, 03:48:30 AM

Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

Yes, people use them. But do note that these trading bots are not something you install and let it run accumilate an income for you, it's far from that. It is hard to do day trading for sure. I've heard people using GunBot and Haasbot, main point with them is to apply custom strategies, so you will have to know something about trading to start with. Since market changes you will have to rethink and put different trading strategies, bot is usefull as you have pre-made code for you with nice UI to start with with lots of interesting functionality. But as I said you need strategies and this is why they sell those bots and prices they do.

If something is to good to be true, it probabbly is some kind of scam, check bitconnect for instace how they promissed extraordinary returns, while these guys like gunbot as you mentioned don't guarantee profit.

samp123

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Do people actually buy into it - since if the returns were good why would they sell the software? Is there any public and verifiable evidence that it produces returns that outperform the market?

Topic: Do people actually use automated trading software like Gunbot? (Read 142 times)