Topic: Do you use a trading Bot? - page 7. (Read 1532 times)

I am still using the traditional way to trade despite my awareness of several bots that are available. Most time, you need to get the configuration right before you can make profit. I believe in doing my own analysis and base my trades on these.

Yeah, you can find many many bots here but nobody really knows which one is the best. I have tried multiple ones including the most famous ones and I can tell you that all of them are literally the same thing. They just take the TA you give them and trade according to that, simple as that. Does that work? Sometimes, but it is not like some sort of financial wizard that you put in money and get out richer, people get in like that and that is not the deal AT ALL.

You just give the bot your TA that you want to buy and sell with and that both goes through tens of coins that you picked and scans it until it is perfect time to buy and perfect time to sell and keeps doing that. If your TA is wrong then the bot will lose money instead of profit, so there is still always a risk with all trading bots.

I didn't use any trading bot. I always like to do manual trade. As a result I have been able to improve my trading skills. Which will give me good results in the future. To trade with a trading bot, you must first need a good idea about the trading bot. Otherwise, the result could be worse.

Instead of learning anything it will only make you more confused about how to trade. Personally, I prefer learning trading on your own and don't rely on bots because they only work on what was programmed on them unlike if you learn it on your own you can trade with confidence and ease and the same time you can always change your strategy base on what the situation is. Bots can be good if your busy and you don't have time to trade but trading needs time and it pays to trade using your own judgment.

It is not difficult to find the bot, you can find in here, and you can get some good bot to use. But still, when you use the bot, you need to know how to run the bot so you can make a profit, but you need to spend more time to set the bot so the bot can run with the market movements. Personally, I prefer to use manual trading because that will help you to learn many methods of trading, and you can improve your skills by learning the lesson, and you will get more information that is happening from the market.

I am not using trading bots whenever I am trading because I believe that human force can be more efficient than the trading bots or Artificial intelligence. This bots are just designed to help the people in so many terns not to just let the bots cover all the work that you need to, so I prefer to trade by myself and not using trading bots although it is kind of hard to trade by myself I assured that it is my decision to trade unlike on the trading bots that on what you have been program on the bots that will be just the one they will do.

Please don't bother your self just to acquire and have a plan to use bots for trading. And I don't think that expert will do as well knowing the fact that trading bots couldn't have a good result compared to doing it manually. The good thing about manual trading is that you are developing your self into a better one and become knowledgeable about the market and knows exactly what it the future of your trading journey.

The answer is no and never happen, only first time and ending with lost. I can't tell what bot I use just one advice " leave " the bot and doing trade like normal trader. Bot look's amazing, we only need to set and relax wait the result. The negative is bot make us lazy to think and have slow respond about fundamental, most bot use technical data. Weekend is bad time for bot and I'm sure all BTT members will give same advice like me.

Trading bot is quite popular but I dont use it. I prefer to do everything manually and besides if you want to learn on your own its not advisable to rely on bots.

But I know someone who created a trading bot to help other traders especially those who dont have time to monitor their trades. They say it is helpful but have not tried it yet.

Using Bots for trading is not good idea. Hear we don't learn anything but hear we get profits some times losses some times.

In opinion don't use bots for trading. Join some groups which share their genuine experience in trading. Ask your friends which is good choice, how to do trading like those. Those helps a lot.

Actually it is not a big problem. I never used a bot because I had to pay. some bots must be rented and for me it is a bad thing to trade.
I prefer the manual.

There are many offers for trading bots and that is not a difficult thing to get if you have money, and how can you distinguish between manual and bot trading because even you don't use trading bots and also you are hard to get them. Something that is not trusted when you want to do an experiment but you don't even know the initial steps that must be done.

1. Watch your bot
To successfully trade using the bot, it needs to be managed. It is necessary to regularly check its activity: how well it works in a specific market situation. Keep track of your trading pairs, analyze charts and check the news from the world of cryptocurrencies so as not to lose your investment.

2. Limit risk

Define a limit: the amount you are not ready to lose more. To do this, you can create a separate account for the trading bot on the exchange

3. Beware of scammers

Examine the bot information before using it. Check how long it has been on the market and what reviews it leaves. This can help avoid fraud and protect your money.

Never trust bots that promise you income after depositing cryptocurrency into their “smart contract”. Real bots should only work through your account on the well-known cryptocurrency exchange. You should see all the deals and applications of your bot. The bot cannot independently withdraw money from your account. Permission to execute transactions should always come from you - through the chosen trading strategy.

Top 5 bots 2020:
- cryptohopper
- gunbot
- 3commas
- Haasbot
- Cap.Club

4. Automate your statistics and risks.

Always be aware of what is happening on your account. Install the tracker application to track all the information on trades and analyze them. Set several types of risks and set the function of special notifications that come to you in case of reaching the risk limit.

Software example:
https://www.bitinsure.com/

Trading bots can save time, speed up trading activity and help make a profit. However, you can not leave the bot unattended - they need to be used consciously. It must be remembered that the bot is not a trader. Only a person decides which strategy to use, as well as what and how to trade.

I don't use and won't use trading bot anytime later. I feel like by using trading bot is just ruining the challenge and you don't get any experience by doing that because it's automatically done by the system. Although, people are fine with it because it's easy to use but I think you can't have full control to the market and you might miss something that have been missed by the trading bot system.

Indeed, I have never used bots for trading, but my general impression of bots is the information that people often provide as bots don't work effectively, written algorithms seem to fail often and create inaccurate directions, perhaps the groups of whales that manage this market could disrupt these intellect. So in the face of the trading market, we need to use our intelligence to predict the manipulation of others, bots are just pre-installed parameters, they can't cope as flexibly as we do

I developed my own trading bot and it has been running for around a year. The result is not bad so far. I am also publishing all the trading activities of the bot to https://twitter.com/coinfather_bot .

I also developed another crypto trading support app call Trading Edge (https://www.gettradingedge.com/). Trading Edge notify you whenever the rules that you set occurs, like "ETH/BTC pair formed a Bullish Engulfing candlestick pattern at EMA 100 key level". Create simple rules that monitor the market in real-time and notify you when conditions are met. I believe that by trading through strict conditions, discipline and opportunities will ultimately bridge the gap between how professional traders trade and us retail traders.

Please give it a try and let me know what you guys think.

Nope, I never used it I believe on my own skills and strategy.
And I want to keep it that way besides one simple mistake from setting it up could actually ruined your balance so I would rather do it myself to enjoy it than to let the bot'sdo the job.

Hello,

I am new member of this forum. I do have extensive experience trading cryptos with bots. I would personally definitely recommend automatizing your trading with bots eventually. For me trading bots have several advantages:
They trade 24/7
Don't have emotions
Bots react faster
You can customize them to resemble your manual trading very closely
You can use special tools to backtest and figure out how it would have performed in the past.
And in the end, the crypto market is extremely volatile, which is something you have to be very careful with. With trading bots you can account for this volatility and take advantage of it.

You do have to monitor the bots in case something unexpected happens, but for me personally the pros outweigh the cons.

I actually used a trading bot several times, but ended in failure. Sometimes in my opinion between trial and use the premium
results like different. I don't know if anyone else is experiencing the same thing. That is definitely trading bot not really automatic,
we have to do the settings first. So the danger is when the market suddenly changes the bot to do mistakes that made my capital
run out. Since then I decided to do manual, because trading manual much better in my opinion.

Trading bots are usually made to lessen the physical work of continuously speculating the graphs as the bot we set onto the exchange would do this work on our behalf. Trading bots make work easier and hence most of the active traders prefer using trading bots. Now, it entirely depends on you about which trading bot you would like to select.

There are a number of trading bots which have different pricing, various features, etc. Depending on your requirement you can choose a reliable trading bot. I prefer using telegram trading bots like cornix as it is much easier to access and I can place any orders within fraction of time so it gets reliable for me. You should try to find your own reason behind using the bots and choose a bot accordingly.