Topic: Do you use a bot for trading? - page 14. (Read 17832 times)

Not just in time. I had very worst performance with a bot in my bitcoin trading. I used it to auto trade bots, but it was unable to book any profits for me. I guess instead of going for a auto trade bots, going for buy-sell predicting bots is somewhat good. Because we will be having control over to choose the best calls and to avoid others.

No i'm use bot for trading because i dont know what is bot? And i dont know how to use it. So maybe you can teach me about it for me to learn how use and what is good benefits i can recieve in that bot.
Because i heard that in many traders especially to those trade altcoin some of them use bot.

Why does everyone usesbots by tradings now i see the point this is the main reason why people are paying attention to peopel who are quitting with tradings you have to be your own bot
no bot can replace a hhuman that is one thing you have to know.

no strategy is always 100% bot or 100% human. you always use bots and a lot of other handy things to help you do a better job at trading.

and yeah bots are usually bad when the situation changes like the fluctuations that you  said here, and that is why i say there should be a human in the equation monitoring everything the bot does to correct any possible mistakes that happens.

No, both beginners and experienced traders do not need any trading bots as no bots are consistent in their performances. Really, I could not find a scenario where we could use bots. Because, some bots are working perfect in low fluctuation markets whereas some others are working with highly fluctuating prices. Manual trading is better for consistency.

in my opinion it would be only a wrost hard work for money . because bot can't predict price bot can do those work which are already programmed . so i think you should use oqn hardwork for trading for better profit instead to get loss from bot .

Trying to predict is a road to hell!
No one knows what the price will be tomorrow! NO ONE!!! Don't think you are an exception! Even if you've touched the sky once.

I never make forecasts.

That must be a right practice, because when you are not unable to predict market movements you may need to depend on others but going for bots is not right decision in my opinion as no machine codes will predict as good as our knowledge and experience. Using our own brain will help us to crack profits from trading. Bots may fail time to time.

I have not used bots to trade. I am not a hard core trader. I just trade when I see the opportunity and prefer to do swing trades than day trades or scalping. I not a programmer, so making bots is not an option and if you want to buy trading bots, I don't think they come cheap.

I dont understand the people who are using bots by tradings what if the bot does not predict the best price for the bitcoin you will say i can do it better and do you think
bots can be usefull to make big money or do you think a human brain is many times better off course !

i think you are a site programmer or script maker for site programming . so you can make .
but after Make of your successful bot you will got nothing because the site at which you will trade will ban your account because . every trading site is secure d with security online .

starts manually then you can assess if you will be fit on what particular trade style you choose to use then if you already okay with it you can start using bot in order for you to take advantage and predict more advance.

I use bots, I use them most of the time! Why?
As I already stated before, you should only use bots whose trading strategy you know very well. Ideally, bot should implement your own trading tactics.

Let me explain. Let's say I just deposited 1000$ with a bank transfer to my Kraken account. Now I want to buy something cheap and sell it with a little profit (I wanna be a frequent trader). I see the price of BTC is about 615$. Low is 609, high is 618. So, I placed an order to buy 0.5btc @610 and 0.5@605.
Now what? Now I should wait for my orders to execute, and once it happens I will place my sell orders.
But when? In few minutes, hours, days??? Should I log-in every hour, or monitor the price ticker?

I have a better solution, I configure my bot to monitor the execution, and once it happens, it will automatically place a sell order.
If bought @610, a sell order @620 will be placed, if happens to buy @605, another order to sell @615 will be placed.

I don't care anymore, I can do my own stuff, spend time with family, take a walk with kids, etc, etc...

That is a very basic trading cycle. And it can be repeated again and again and again, making about +5$ at each iteration. That is an example of some super simple bot logic. No black magic. You can do it all manually, but all of us have many better things to do instead.

This is  true , you couldnt able to use  bot  on trading especially when you are still a newbie  because you wouldnt know  how to use it at all because of lack of knowledge  and as you said  you could  use bots for automated   trading especially when you do  long trades.

this IS the way to do it. you should first do everything manually and take time to learn everything yourself and then you can figure out which part of it you can do with automation (using bots) and which parts of it you have to do manually.

No I do not use bot for my trade as I know well that how to trade and I put all my efforts in doing trade and use my mind to choose the correct point to buy and sell any asset and I think that work will not be possible with a bot so I do not rely on bot for my trade.

I am beginner with trading, so i prefer to study the chart without any bot to get good experience. I think only the experienced traders use bots for trading nowadays.

No i don't use a bot for trading, because i just trade sometimes with small amounts right now. But i think experienced traders which trade everyday almost, use it because it facilitate the work for them

i do not have much knowledge about trading bot but still I consider it as a harmful for my capital and I think it will not be able to use the mind to decide for a right action at a specific time.

I'm using bots from time to time. But none of those developped by others (HaasBot and CAT seem to be decent ones), but my own creations instead. It's not primarily to make insane profits, but for the coding itself. It gives you a better understanding of trading, certain processes and coding itself.
Mostly, it's when I recognize some odd behavior on the markets (recurring buys/sells or other kinds of behavior which can be used to make a few bucks) that it gets me interested if that process can be automated. A while ago, a friend pointed me to some weird behavior of recurring buys and sells on an exchange which drove the price up and down enough so place buys and sells with profit. I tried that for a while and it worked, and then I thought that this can easily be automated.

My target always is to be as simple as possible, use little logic to keep things easy. It works (said bot had between 1 and 4% gains per day when Bitcoin was moving sideways… downside was that it only worked with small amounts of sub 1 BTC and it didn't adapt when BTC suddenly started trending.

Most of the time, my tools are raw terminal applications, which means there's no UI and no user registration or anything which would enable me to put that functionality for rent. Mainly because I don't want to bother with securing the trade API keys of other users (this makes a server a potential target for attacks), so I only play for myself.