Do you use a bot for trading? - page 16.

ivanst776

legendary

Activity: 1540

Merit: 1003

Quote from: leero9 on October 06, 2016, 08:56:36 AM

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

I have seen only one "trusted" bot here in forum and that is C.A.T but still I don't trust any of the them.

All of the time for trading I don't use bot and I trust enough myself even though I'm not more efficient rather than bot.

adi33

hero member

Activity: 630

Merit: 500

RealistaToken.com

I just know if I can in trading bot. but to my knowledge it open that often do bot dev coin itself? usually in yobit every day there are bots coins intended that traders buy their coins first time I ever get to know my initial trading and my BTC sold-out

Newcoins2020

sr. member

Activity: 406

Merit: 250

No I'm not using a both to trade any of my altcoins because I think that using a bot will not even help you, I even think that it can destroy your strategy and that it will let you lose money on a long term.
I think using these bots is simply not worth it and we should also not do this too.

carap

member

Activity: 86

Merit: 11

Quote

even you have a bot you still needed to look on your investment you needed to input information on how make your trade successfully

Absolutely! As I said, it is only a tool to automate some routine processes.
It's like driving a car - it is faster than walking, it may carry weights, etc. But you can't just enter the destination address and let it drive there on its own (that be risky even with Tesla).

Bot is absolutely useless for the buy and hold strategy, but sort of essential for high-frequency day trading (like scalping).

How many orders a protein-trader may place during one day (OK, during two hours)?
How many mistakes (i.e 0.0000021 instead of 0.00000021) is likely to be made?

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: carap on October 07, 2016, 02:48:31 PM

Quote

do you have practical experience with bots?

A lot! I assume that should be clear from my post.

Quote

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

even you have a bot you still needed to look on your investment you needed to input information on how make your trade successfully i think its use just if its needed when you are going to leave your trade for sometime but me i still prefer to use my own knowledge when im trading.

carap

member

Activity: 86

Merit: 11

Quote

do you have practical experience with bots?

A lot! I assume that should be clear from my post.

Quote

Do you write their code or you just buy them?

I bought/rented few bots in the past. Later I (and some of my colleagues) developed a couple of bots running different strategies.

Bot is not an AI that makes human-like decisions. It is only a tool that helps to automate a set of simple routine operations.
IMO it is essentially important to fully understand the logic of the bot that may be allowed to trade.
If its logic is obscure or described in vague terms (a mathematical bot running on neural networks and optimized with genetic algorithms with super-profitable strategy) - I will never give it a chance!!!

exscudo

sr. member

Activity: 668

Merit: 257

Nextgen Financial Ecosystem

Quote

I trust bots more than various asset managers.

Beg your pardon, do you have practical experience with bots? Do you write their code or you just buy them? Quite interesting to hear someone`s opinion on that matter, who is into bots.

carap

member

Activity: 86

Merit: 11

There are few reasons why one might want to use a bot:
1. Bot may work 24/7, obviously protein-traders are much more limited in this sense.
2. Bot has no emotions, thus may keep following a predefined trading strategy, no matter what happens.
3. Bot makes no mistakes! (once I wanted to place a sell order for 640$, I was tired and disturbed and I entered a price of 460$ - executed immediately)

Personally, I trust bots more than various asset managers.

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Quote from: SAMKUSH on October 07, 2016, 10:51:53 AM

I have used bots for on demo accounts and to trade very small amounts, these amounts are worth less than $10, this was just to see if the bot works well and if it makes the profit I expect. The bot was very successful in making profit the majority of the time however it was when there were large changes in price, anything where the price changes by over $20 in a few minutes, that things started to go wrong. Because of this i mainly trade manually.

Thank you very much for sharing your experience. It must be really a great help to this community. I really appreciate it.

Bots are working as per predetermined parameters. So, expecting them to perform well for all type of market conditions is completely meaningless. If we are having some knowledge on setting up those parameters, we will be get chances to make them work according to market conditions but it is not for beginners, only advanced traders could do this.

SAMKUSH

sr. member

Activity: 406

Merit: 250

I have used bots for on demo accounts and to trade very small amounts, these amounts are worth less than $10, this was just to see if the bot works well and if it makes the profit I expect. The bot was very successful in making profit the majority of the time however it was when there were large changes in price, anything where the price changes by over $20 in a few minutes, that things started to go wrong. Because of this i mainly trade manually.

BitHodler

legendary

Activity: 1526

Merit: 1179

I was planning to have a highly skilled coder develop one for me, but I as a noob when it comes to code don't know whether or not he didn't add a line of nasty code where he can access my account.

That's for me the main reason of why I don't use a bot for my trading.

Sampey

legendary

Activity: 2632

Merit: 1040

Hundreds of traders use my C.A.T. bot : https://bitcointalksearch.org/topic/bot-cat-cryptocurrency-automatic-trader-new-price-list-042021-507103

And Exchanges are very happy when bot comes in play : they generate a LOT of volumes and more volumes = more fees.

I directly works with many exchange admins, and i never receive a response like "we don't want BOT on our exchange".
Of course some of them set a "spam filter", for example no more than 3 API Call/second from the same IP

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

i do my trades as long term buy and sells meaning i go to my exchanger and open some orders to buy at a price that i have decided is good for me to buy at and then set a price in mind to sell and i either open sell orders before or at the time price reaches that point.
so i don't really feel the need for bots.

but i have been looking around for a good bot preferably free and open source or at least cheap but good. sadly i have not found one yet.

iv4n

legendary

Activity: 3346

Merit: 1191

I don`t like bots, that's why I don't use them, I need to admit that I never used this trading bot, even I heard about it here. I trade for fun, I don`t expect some big profit, cause I just go with informations I find here. If I see some good thing going on with some coin, I open my yobit account see a little for myself and buy some amount of that coin I heard good things.
Can you say how much profit you made with your trading strategy? And do you think its easy money? I mean can anyone do it, or this kind of earning require some skills and knowledge?

senyorito123

hero member

Activity: 1764

Merit: 505

20BET - Premium Casino & Sportsbook

I don't use bot since i can monitor the price for my own without relying on that and also i don't see any people use this kind of bot in tradings since i don't reall believe that theirs a working one on those exchangers, but since theirs a service offering some bot script on such huge exchangers i think this is to good to be true since i beleive tradings need effort to earn.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Im regularly watching and monitoring the price so in the first place it's not necessary for me to used the bot service. Using bot is good for fiat currency trades since the price is stable. For bitcoin and altcoin, you need to monitor the price regularly especially on altcoin trades since the price fluctuates much.

But honestly, I didn't know some bot program that allowed in some popular bitcoin exchanges.

Xenophoto

hero member

Activity: 826

Merit: 502

I don't see the need to use bots in trading. There are bots in trading that buys or sells a coin at the minimum amount possible just to make the name of the coin in the list blink continuously. I guess that's other people's way to attract investors and to promote their coin but seriously, you don't need any bot other than that. You just have to set your buy/sell order and leave it. Bots wouldn't make you have a seller/buyer quickly.

leero9

member

Activity: 75

Merit: 10

-09-

Quote from: jhenfelipe on October 07, 2016, 07:41:29 AM

Just like others, I never used bot in trading. Honestly, I don't know how it works, or even how to set it up to do trading for me or for anybody. I'm also thinking if there is really an advantage? I mean you can earn more with that? Hmmm, anyway I think it is still better without it, at least you can manage your trades with your own decision/control. That's the reason why I don't see myself making one in the future. It seems that you already have plan in making your own, good luck

Thank you for sharing your idea too.

Thank you for the good words!

I think that if you already have a working trading strategy, that can be turned into an algorithm to trade for you exactly the way you want it.

But of course, first coming up with a profitable trading strategy is the hardest part, since as most people say, 95% of traders are not profitable.

leero9

member

Activity: 75

Merit: 10

-09-

Quote from: pooya87 on October 07, 2016, 02:44:50 AM

Quote from: leero9 on October 06, 2016, 08:56:36 AM

I thought it would be interesting to know if you guys use a bot to trade bitcoin or altcoins..

Whether or not you do, if you were to make one, what rules would it based on?

I don't use one myself.. but am looking to get one built, and would welcome any suggestions on features and rules that you think would work..

Thanks!

i have searched for this for a long time, you can find my topics back in 2014 asking for open source bots and free bots ,...

finally i started learning a programming language and made myself a bot which i am constantly developing and i use that.

That's really great! Wish I had your tenacity to learn programming from the ground up..

Could you share a little about what your bot does or what functions it has?

jhenfelipe

hero member

Activity: 1372

Merit: 647

Just like others, I never used bot in trading. Honestly, I don't know how it works, or even how to set it up to do trading for me or for anybody. I'm also thinking if there is really an advantage? I mean you can earn more with that? Hmmm, anyway I think it is still better without it, at least you can manage your trades with your own decision/control. That's the reason why I don't see myself making one in the future. It seems that you already have plan in making your own, good luck

Thank you for sharing your idea too.

Topic: Do you use a bot for trading? - page 16. (Read 17850 times)