Topic: Do you use a trading Bot? - page 6. (Read 1507 times)

I have not used a bot before, but I do know people that have tried it and according to them it’s not really worth it. The returns the developers claim you will get is not what you get at the end.

I have seen some devs that comes here and claim a guaranteed return when you use their bot, you should skeptical of such people, they may be lying. One has actually claimed that his bot will give traders up to 8% return a month, but whatever, it’s just that if you want to try these bots you should do so with shitcoins or money that you don’t really need to prove their authenticity.

I have several times used trading bots and the results are far from what I expected. Most of the results failed, due to use trading bot
does not mean that everything is automatic. The weakness of trading bots often fails when the market suddenly changes. So my advice
is more good using manual trading, it's easier to make a profit. Because we can change strategies according to market conditions,
especially when the market like the last few days suddenly dumped due to the corona virus effect. If we use trading bot, our capital can
run out,but with manual trading we can be more flexible in making decisions.

Trading bot? Does that even work ? I have seen people that claimed that trading bots work but they have not been able to prove that it works. Someone once told me to make use free bots and when I asked whether it worked for him, he just said that it works in some ways lol, what does that even mean?

Bots don’t work, maybe these premium ones that people pay for might be working out for them a bit like 50/50 chance, but the free ones will never work, I don’t think anyone will create a working bot and give it out for free. I prefer to do the trade by myself instead of looking for bots to trade with

Remember that trading bot will not work their own. It was created and perform perfectly just because of traders itself, it is placing and selling orders automatically on behalf of the client who purchased the trading bot. It was intended to help users make profit from connecting this to the user's exchange platform used, while not wasting a lot of their time. It will not work if the users dont know how to execute trading in the market and trading bot is useless.

Not so, because even those who make trading bots at least they are professional traders, with the experience and knowledge they have, they are able to make this software to help those who don't have much time to trade and also, for those who don't have experience and skills choosing to use a trading bot is the right choice if they have money to spend. That way, there is no guarantee that those who become professional traders do not use trading bots, because using a bot or not is an option and all traders can use it, including professional traders.

Not a bot fan but it will just do as what you set and will not go beyond because it is a robot not an AI. If we could just integrate the AI for trading now then everyone would be neutral, no one will win nor lose. But the thing is AI in todays world is on its early stage, I'm even afraid if we achieve to unlock the full phase of it, maybe it'll doomed us. For me it is still better to trade on your own, aside from you're learning from it you also have the decision and in trading there is no perfect plan everyone should have a turning point when everything does hurt, this is what the bots are incapable of.

The story you've heard is the story of the past, bots really hard to set indicators with amateur skills, plus the inexperience of investors and traders, the opportunity to profitably and perfectly manage our capital is not high, the rent is even quite expensive compared to what it can provide. But let's ignore that sad past, so many signal bots can provide us with relatively accurate indicators for the period right now, the price is not too high and the support seems to be permanent, we can consider using it if possible

I accept as true with you i do not usually use bots for trading because i feel handling bots seems more likely to harm Because the bot will usually do the maximum amount as you teach it'll not do anything beyond that and if we trade ourselves  we will analyze the profit by analyzing different places.

Personally I don't use trading bots, I only trust myself. Trading bots are pretty various, some of them are not effective at all... Being a great trader means not using bots in my opinion. So, I don't like and don't use trading bots. But, I like trading tools like for example Galaxy Score available on CoinDeal, some of them are pretty useful.

I have never used a bot.  because to several considerations.

• I once knew my friend was using a bot but he still suffered a loss.
• Setting the bot itself is also difficult.
• And requires paying rent to run the bot.

So from there I think and weigh, before just entering we have to pay rent for the bot.  if the entry is wrong and loses naturally it will be a double loss.

As long as using a bot there is no guarantee of loss, I prefer using the manual.

Undoubtedly, any professional trader who has a certain work experience will trade in manual mode without using a trading bot.  It seems to me that to a greater extent trading bots are used only by those who do not have enough time for this activity or who have a small reserve of experience.  I am just starting to learn how to trade and I still have to learn a lot of information before I get good results from my activities.  But the most difficult part of the job is a productive market analysis, which is very difficult for a beginner.  And if the software of the Trading Bot is really capable of showing results, then the trading bot will make this analysis much better than any beginner.

But at certain point in trading we all require scripts and bots which can facilitate the tasks we are doing manually, I give you an example suppose you are a price trader and you make a purchase whenever price does by 1% and sell off once the price goes up by 1% then you may easily automate this and relax and spend your time on learning more about trading and charts.

I mean bots are there to make human tasks easier and not to replace humans at all, I mean it is us who will enter data into bots so they only make decisions based on that and hence I personally believe that yeah not initially but at some point in trading you always require a bot that can automate the process as much as possible with the trader only putting basic data and inputs.

Even I prefer manual trading. Bots might not always spot a exact entry and exit points and if ever we configure a bot to make automated trades with some fixed percentage of profits than most of the times we might end up in loss only because the bots would perform buy or sell orders at the wrong point. Humans can make a exact analysis depending on the current market conditions which might not always be possible for a bot to perform.

Moreover most of the times, the markets depends on the fundamental analysis as per we saw with the current market conditions and in these conditions the bots would have made you bankrupt by buying when the price started dumping as most of the bots feel this as an appropriate point to enter the markets.

No, I always prefer trading with manual approach. If we do that well then we will be moving to right position. I am working with FreshForex, and that makes manual trading even better to do with the low spreads, fast execution of trades and much more.

The same with you because most of the time I spend all of my free time for having a lot of research and study well for my trading and all of the transactions I made because I'm confident to get a profit and does not regret having mistake because it is better if we made decisions that reflect to the skills we have. Sometimes we have fault by that we can earn more experience and avoid that to the next encounters. Also, we cannot always rely on the bots because some of them has an algorithm that can predict the process of the transaction but still the developer or creator has the opportunity to make some manipulate to the bots still we need to mind it, always trust your self and believe on the things you earn and you can do.

- Yes, when we rely on our own skills and experience, the confident attitude and the calculation of risks are always in our minds, there is very little confusion with different situations when everything has a plan to prevent and can handle immediately, except for these benefits, perhaps knowledge enhancement is what we get the most, so most people refuse to use bots. There may be some very good and useful bots for the market but the support from machines and programs is limited, no agility and quick handling like humans

Well, not all bots are bad maybe you’ve rented bots from the worst programmers but there are some that works quite well but being a bot it does not have the ability to adjust accurately base on the current situation because it will only work based on what was programmed. Manual trading is way better because you can make adjustment right on the spot though manual trading takes time you may need to spend hours analyzing it and also learning it.

NO!. Actually doing trade as a human makes me feel am in charge and some sort of inexperience bots with programs for execution. As human taking the right decision on trade make me feel that: am doing the right thing no matter the end result from the trade and so far, I have been enjoining doing my trade without any assistance from any artificial intelligent machine. Being in charge give me the full confidence that am not wrong but on focus.

One of the most effective trading bots if Fibonacci bot. This is the algorithm designed to automate trading betweenFibonacci levels (i.e. Martingale strategy). This and the other effective trading instruments can be found on 4Bulls platform, for example. Catch the promocode INCOME for 25% discount!

Hi mate!
I do use trading bots (tbh I tried really many bots)

They can earn money indeed, BUT
They become ineffective one day due to several reasons (like market state or other bot etc)

That is why I use software to control these bots.

Idk if there are many controlling software but for me Bitinsure (Insurance for your Digital Assets (https://www.bitinsure.com/)) application (mobile+web)) works excellent. It is software that improves trading with 2 major functions: automated cloud risk management and real-time statistics metrics.

**Risk management **limits and controls your losses (several trading limits and sends you an alert when one of the limits that you configured is reached. This way you build a sophisticated trading system and keep in control of your funds. You stop unwanted losses and earn more with less time spent.
**The automated statistics** of your trades that can be used for the analysis or hedge fund presentation (if you give money under management). The statistics is recorded in real-time, so you can easily analyze the indices needed in a convenient form and spend your personal time on what really matters for you.
I trade futures on Bitmex, so, it’s really helpful for me! I started earning in a stable way and do not worry about losses. Bitinsure does it for me.

Thus, I use trading bots and controlling software. The results are quite impressive.

Good luck!