Topic: Do you use a bot for trading? - page 17. (Read 17850 times)

But million dollar trader always use bot on trading and Simple people who use trade the bitcoins for the daily needs and who is doing professional trading will not with bot trading, Because to avoid and coding issue or any malfunction in transactions.

Wow guys thank you for all the replies!

I was thinking about it... and it makes sense that you will first need to have a trading strategy/setup in place, and then the next step would be to programme those rules into a bot. I'm not here to talk about 3rd party bots where like exscudo said "you don't even know what's inside it".

And the reason why people who have working and profitable bots usually do not sell it is because, the more people have the bot, the less likely it will be profitable. Imagine someone with a working arbitrage bot, is making money because there is price discrepancies between different exchanges; if everyone has that same bot, the price discrepancies would eventually disappear and not everyone will be able to get part of the pie.


Off the top of my head, one simple setup would be an MA crossover (or even triple MA) which you watch on two timeframes (lower timeframe for deciding entry/exit prices, high timeframe for trend confirmation). Of course, it should have couple more rules in place to avoid taking every trade when MA crosses.. AND it is definitely not as easy as it sounds otherwise everyone would have their own highly profitable trading bots. Like I said, we first need a profitable setup, and then programme those rules into the bot.


Also, I think such trading bot rules will work for more established markets like BTC or ETH, or with traditional money markets. When it comes to altcoins, problems with liquidity likely render most bots useless, or at least will require a different set of rules, or parameters that consider volume and liquidity.

For altcoins, a "volumizer" seems to be pretty common, but I wonder what other functions people who trade altcoins put in their bots.. I could think of so many different kinds of bots for different functions for trading altcoins.. pretty sure whales have bots that can carry out many different functions. Also something interesting could be to create a "research" bot to study volume (among other parameters) of altcoin markets to pick up on anomalies or know when something is brewing.


Seen some talk about "altcoin developers using bots to pump the volume and manipulate the price".. But what would this bot actually do? I'm guessing some functions could include to create volume with self buys/sells, placing buys/sells higher than others, price suppression with large sell walls, etc..


Maybe another way to put my initial question would be:

What is your trading setup/strategy? I'm sure you have a few basic rules that you abide by to some extent.








Thank you for the tips!! 

I dont use a bot when trading it is better to trade and manage my trades manually . My friend use a bot trader ,he use to trade when he is busy and use trading bot in a binary trading . But he says the disadvantage of bot is you can't manage your profits and loss .so its better to trade with yourself.

As I have heard from one of the professional traders, 'never use a bot is you don`t know what`s inside of it'. So if you don`t understand its algorithms, your trading becomes gambling with a black box: you put your money in it, and then you open it in hope that there will be more of it.

There are a lot of free trading bots are available, still I believe they are not required for better trading as you are already comfortable in your manual trading. Moreover free bets are not that much a reliable (sadly paid ones too) to relay on them for making our trades profitable.

You can gain familiarity with using bots just with free ones but in trail accounts.

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.

i'm not use bot for trading, the reason is:
1. to expensive for me, i see many bot for trading is in high price, i dont know about the free bot
2. i'm not familliar using this one
3. i'm more comfort with manual trading

No I'm not using a bot for trading because I think its simply not smart and it can also let you lose a lot of money, I recommend you to never use one because they are simply not working at all..

i think the trade site will block your account if you will use bot . because use of bot for satoshi site is not legal in view of admin . for example you use bot for trading at yobit.net but there is option to get faucet collection daily . so yobit will ban your account if they sure that you are using bot .
always use legit way to get trading profit and legit way for faucet also .

Never, trading with manually is better than using the bot, so we can imagine if the bots are already infiltrated or infected by malware, and such as will steal our data and that's very bad. so never believe with the 3rd supporting software. and i don't think the bot is work for using in exchange.

i am not use any bot for trading, i am trading like other people. the reason i don't use the bots is i don't have money to buy the bots that i think its really expensive for me, but if i have money, i think maybe i will buy that bots and use it for trading.

Have you developed this bot yourself or bought it somewhere? Your obvious reasons for not releasing this bot is: " I want to sell it for good price" and that is fine. I understand.
One more question: where are your trading? i.e where you can use this bot, obviously it won't work on ANY exchange.

Dont even  heard about it   about trading bots  but  if those thing  exist i would not  mind to use it because its  better  to do it manually  because you could  observe the price movement correctly and  no bot  can decide  which is the best time to  buy or sell but  yourself only.

Google will point you to older opensource projects that you can use/abuse to your own needs.

I make and test mostly semi automated stuff.
 This one is quite easy to rewrite.

I never heard for such trading bot before, I noticed this topic accidentally. Can this bot make good profit, and what risks we have here?


I will open accounts on exchanges where I don`t have it, do we need to be connected on more then one?
Can you share more about your experience, where did you download that bot, how much is your starting investment. Did you make any profit, did you lose something? Tell about exchange sites you use. Thanks in advance for all informations you can give.

Yes, I use such a bot for trading.

Custom developed, it integrates via API on several different popular exchanges* and generates passive income for me via arbitrage (buy bitcoin cheapest possible on x platform, sell higher on y platform). Daily profit varies obviously due to BTC price fluctuations, arbitrage fluctuations, etc. If anybody is seriously interested in it and has a decent offer, PM me   Not willing to release it publicly however for obvious reasons.


*you must have valid and existing accounts on any exchange you want it to use that is supported.

I don't rely on bots since I'm pretty much online 18 hours a day. *Perks of being a Software Developer.
Secondly,as a python enthusiast,I have deployed a few trading bots according to the custom needs.Furthermore,here are a few suggestions you may want to consider while getting one programmed for trading.

 -No 24*7 window.Set a timeout after every satoshi made through the marginal values.

 -Keep a bot actively running in the background to send latest prices of the alt's.The trading bot should take these prices,analyze the differences in the span of 15 mins and then decide to trade or not.

 -Marginal values should be fetched from a reliable source such as prev or coinbase and not the website's tickr!

Do any of the exchanges have rules against using bots?
I would be very careful in admitting I used a bot. You might get your account closed and any of your coins seized if an exchange finds out you are doing automated trading.
(If it is against their terms of service.)

Also, most people that have a good bot for trading probably programmed it themselves and aren't going to give it out for free.

really interested as to who ever tried using bots and have successfully earned btcs through it. Maybe it will work just on bitcoin and not on altcoins.
like the bot can do sell orders when it notices there are about more than 5 sellorders that quickly enter when moving averages change significantly and so the RSI.

Never had any experience with trading bots before and i think for small traders like me playing with bots setting and strategy will be waste of time. I like to do manual trading rather than trusting bots. But for bigger amount of day trading , bots may become helpful and most of the time i have seen several altcoin developer using bots to pump the volume and manipulate the price.