Topic: Do you use a bot for trading? - page 9. (Read 17845 times)

Anyways using bot to trade doesn't mean you will learn nothing
You can learn even more when you used bot, it's just the matter on the way people trading
I have bad experience too using bot to trade almost got lost the entire balance
But well it was my own fault to not set the bot properly.

i never use bot to trading altcoin. I would glad if someone can share bot to trade altcoin

I never use bot unless if there is a legit bot software for trading but never seen someone are giving that bot except for saujie bots in gambling..
The good part it can manage your trading well to setting it without visiting always exchange sites..
But for me i just using the margin and setting it up there is not a problem visiting it daily.. much be careful for random bot their most of them are has backdoor or virus that can drain your wallet fast..

no, I do it himself. but until now, it is very difficult to make a profit that much of a gamble. but, I'll keep practicing, and keep trying until I can find a way to earn a lot of trading. I think, use the bot will just be a great loss to those who use it. believing in yourself is the best thing.

that's how tempting buying a bot mate because of curiosity if how that particular thing works with our daily trading but i think its still better to learn more doing the manual trade before using bot since we really needed what settings are best for us to gain profits.

i was tempted to use bots, i wonder how much winnings do i get with using it. but i don't have some money to buy bots for trading besides i like trading manually on my own. and i can set price to take profit anyway so its still a good thing for me even without bots.

Yes indeed you really better to do manual trading, because the benefits we can learn the trading and will get knowledge, it will make us have a good skill. But the actual bot trading is used for someone who does not have much time to see price fluctuations. Using bot trading is very risky because it is less flexible,so that a trader can not determine when to do open transaction. Thereby traders only followed a system that has run the software. In comparison manual trading and bot trading, manual clearly superior because volatile market conditions.

Nope,  i never tried any trading bot and don't have any idea to buy one as I didn't believe in bots! Better I do manual trading.

When you are having a very strong strategy, there will be no need to worry about stop losses to be implemented in your trading bot.

I agree, trading with stop loss is always important and your strategy itself must provide stop loss levels based on same methodology you will be using for targets. I guess, simply implementing a stop loss function not a big deal.

Have no knowledge on making bot, but if i am making one, the primary rules of course is the stop loss function.

Well, in forex or all other currency, you can use trading tools like the EMA, SMA calculations, but in altcoins, i don't think it apply well.

It may apply but it wouldn't work that well with crypto trading, so i guess first, stop loss is a good feature!

My team made a bot and constantly working on it. But I'm not authorized to share it or even get more into details on how it functions.
May be, some day in future, one of simplified implementations will be available for rent, but personally I doubt that. It makes us some money, we would like to keep it doing so.

Here I may give you a hint - make another separate account only for bot! By doing so you'll be 100% sure your main deposits are safe.

Of course, there is no bot or strategy that always make money! If someone is advertising you a strategy or a bot that never loses, send this person to hell straight away!
What I do during non-profitable periods? I become a long term investor for the active that my bot has bought
It is a traders responsibility to choose an active that shouldn't get to 0 in the long run. It is up for the trader to find the right balance between profitability VS risk. 
There are shitcoins that experience crazy pumps, but it is risky to send a bot to trade them, because once they might be dumped to 0, there will be no strategy or technique that may help to recover losses. I don't stop bot, even if it has bought a lot during the sharp dump, since I expect it to sell with profit on the next pump - patience is the King!

I wrote in more details regarding personal responsibility of the trader and discussed some common wrong assumptions about trading robots in my thread - https://bitcointalk.org/index.php?topic=1722689.new

I personally only do manual trading, but that of course doesn't mean it's always more profitable than a bot that is doing its thing. I once had a bot developed to run on various exchanges, but for some reason I couldn't handle the fact that something other than myself is making buying and selling decisions (e.g. risking my money). Have you ever encountered that your bot has been not profitable during various trading sessions? If so, did you let the bot just run in the hope that the losses will be bend into profits, or you directly put a temporary stop for that day?

Me too I never used bot and I don't have any plans for using it although I know it has some advantage and help for me.

But I really don't want someone or a bot to do something with my trades, I'm not just comfortable with it.

I wanted to manage my trades with my own knowledge and effort so that whenever I got profit, that's going to be sweeter.

there's nothing wrong and it's your decision, evne though bot can help you in day trading and you will not have struggling with the trading if some opportunity suddenly appear, though if you don't have an intention it's better not to. and that's right, bot activity in several popular exchangers are pretty strong, it's because those traders have limited energy to always lurking.

That was a nice feat from your bot! I like the feature that you can decide the percentage of your fund the bot is allowed to access, because that where problems often arises with bots - they feel or care for nothing. Did you develop the bot yourself and can someone else give it a try?

I always know that a well formulated and structured bot stands better chance of picking profits from the market than manual trading, because a bot stays focused - devoid of emotions and following every developments in the market day in, day out and their speed of spotting and placing traders is far better off.

Some strategies like scalping are terribly difficult (super time consuming) to be implemented by hands.

For example, we traded ETH/BTC on Poloniex, we had about 6 btc on deposit, in less then 1 month we made 2317 buy and 471 sell orders! How much time would it take a protein-trader to place 2700 orders? Without any mistakes or typos.
One may say that scalping is not effective (not profitable). Our capital turnover was about 1700ETH, but we made +0.94BTC from 6BTC of initial deposit.

Surely, some of you guys can do a lot better by manual trading, especially if you do some research, follow whale and ride to the moon with some "unexpected" pump! I love doing that as well, but most of the time I'm late for the party. In the mean time I love seeing some micro-profits from automated-trading. Anyway robots are given a maximum of one third of my total deposit - that is my money management practice.

I've never used a bot for trading and I don't intend to, simply for the reason that I don't really feel like or need to participate in day trading. I'm much too busy for that with my regular occupation. What I have at least seen, however, what seemed nothing other than vigorous bot activity on several popular exchanges at times...

A bot is only an assistant, it does not serve as a replacement for learning to trade and having a good understanding of what is going on in the market. A bot works best when a trader is quite knowledgeable about what the bot does and how it reacts to changing market conditions. The mistakes many traders, especially newbie run into, is to unwittingly surrender their trading accounts to some bot simply because some other trader happens to be doing well with same bot.
 
Using bot have a lot of advantages, like sitting in the market 24/7 and being able to follow up developments in the market, ability to put check on emotions, which is a difficult task in manual trading, ability to calculate lots of market parameters faster than human trader and so can place trades in split seconds than is possible with a human trader,etc.

yeah you are right in trade you will need to be active the whole day for to trade and to catch any opportunity which no one know that when will come and even some expert cannot give the whole day sitting in front of their computers due to other activities of their life so they in the time when are unable to sit for trade they set the bot.

This is the main thing on which bot cant really do because market does really move unpredictably which means if you set it up on a specific setting its either a long or short and market does reverse then decision making should really be need here thats why its better to use manual rather than automatic.