Topic: Do you use crypto trading robots? - page 2. (Read 1117 times)

I'm surprised at all this hate for bots. I have a day job, so I can't even imagine trading without them. I certainly don't want to make trading a full-time job, especially not if I can get 80% of the results with 20% of the effort. Or even 50% of the results with 10% of the effort. And I'm not convinced it's even that.

Bots trade 24/7/365, just like crypto. They never miss a signal because it's the middle of the night, or you're at lunch, or on vacation, or whatever. Bots follow all the practices traders have to learn the hard way:
- Don't trade on emotion
- Don't get greedy - take your profits
- No FOMO - you're not going to catch every surge
- Diversification. You can't manually trade 20 coins. Sorry.

Also, this idea that beginners can't do it? There are levels, just like with manual trading.

Here's a simple, simple way that you can beat hodling, and it takes 5 minutes to set up. And you can do it for free on Binance, Pionex, or use 3Commas on any exchange they support. I'm sure there are others.

Set up a grid bot trading or a rebalancing bot between ETH/BTC. You'll accumulate BTC ahead of the market, and you hardly ever have to adjust it, because ETH and BTC are pretty well correlated at the macro level (but not at the micro level). This is what mine looks like. This is only 60 days or so, because I had to liquidate it for something else, but I've been running this basic bot setup for about a year. Beating the market by ~30%.

https://i.ibb.co/FHzLsDd/ETH-BTC-grid.jpg

Other grid bots do even better, especially against BTC. SUSHI, REN, and BAL are all running 5%/month or higher grid trading against BTC.

As far as indicator-driven bots, I've been running those profitably all year too. Sure, I've had some experiments that are losses. My current algorithm backtests on BTC/USD at over a 30% annualized return YTD. Yes, in a bear market. Did even better in that slight uptrend from mid-June to mid-August. Other major coins (not counting ones that had black swan events) have done great this year too, with returns above 5% monthly, some above 15% monthly.

Yes, you still have to have an eye on the coins at a macro level. Still have to keep an eye on the news. But you don't have to be a genius to trade profitably with bots. Just have to apply the same principles -- take your profits, don't get greedy, manage your risk, diversify as your account grows.

BTW, as far as what it costs to get into all this?

- Binance and Pionex have free grid trading - I'm sure some other platforms do too.
- 3Commas free account allows you one multi-pair DCA bot and one grid bot. A multi-pair DCA bot is amazingly powerful. Mine did 30%/month from mid-June to mid-August. Yes, it took some losses after that, but I've learned and tuned it and it's now running profitably, 10 deals at a time.
- CoinRule's free plan lets you run 2 live rules, up to $3K monthly trade volume.
- Trality's free plan allows you one rented bot and one created bot, up to €5,000 trading volume. Plus, unlimited backtesting (great feature).
- CryptoHero and TradeSanta both have free plans with 1 bot.

And, of course, just about every platform has a free trial.

Personally, I use Pionex for my grids, 3Commas free for 1 grid and 1 multi-pair DCA bot on my main exchange account, and CryptoHero for my algorithmic bots. CryptoHero doesn't have as many strategy options as some of the more mature bot platforms, but it's a lot less expensive, has great support, and very fast backtesting (much faster than other platforms).

I suggest just getting started with the free plans on a couple of different platforms. Get something profitable running. Then optimize it. Then go try something different on another platform -- each platform tends to have one or two main approaches that they're best at. It's not an either/or — just because you start experimenting with bots doesn't mean you can't keep trading manually. But at least try it out and give it a fair shake.

I'll leave you with this — screenshot of my main bot account's last few days of trading:

https://i.ibb.co/9Nrvrgz/Crypto-Hero-Deal-Log.jpg

Bots are for automation which it would really be easing out traders work and effort specially when you arent in the front of your computer then it would really be just making out the actions or commands which you

had set out.It is really just people do really have bad beliefs or impressions or treatment when it comes to trading bots which these things doesnt ensure that it could bring out profits or money into you.

Its is a tool which is used for you to have those automatic trades whenever you arent really that facing your computer.If you do know on how to make use of it then
it does bring out that kind of convenience imho.

But why do you dislike them? Bots at the end of the day are just a piece of code that people are using to give themselves an edge over the rest of the market participants, which if you really think about it is something that everyone is doing, no one is graphing the markets by hand anymore, something which was done before the advent of computers, no one is calculating their own indicators by hand either or are on the floor trying to buy stocks directly from another person, we all use technology, so it makes sense some found a way to reproduce their trading strategy in the form of a bot.

Bots are there to just automatize your trading systems, since most of them will base their trading behavior upon algorithms you will set. Eventually some experienced traders may think of creating one for them so they don't have to check the market every single close and open just to ensure that you will be able to hold a position for that particular trading session. Some still wants to trade by themselves without the help of any type of program. Honestly I wouldn't mind using bots especially if I made it myself. You wouldn't catch me hiring a third-party bot though. That is risky.

Robotic trading is something I dislike. Despite the fact that some cryptocurrency traders use it. There are only trials, but there are also desires to succeed commercially.
Some of my pals who have tried trading with bots appear to no longer do so. possibly because the outcomes are unsatisfactory. nevertheless, I'm not familiar with the trading bot the OP is referring to.

I'm going to say that I've never tried it but hoping it can be done soon when I see reliable bots. But as long as I have enough time to check the market, have enough time to face the computer, and do trading, I can't afford to do it. Maybe there is the right time to do this, using bots, but as we are still learning, it was good advice not to try this instead, make ourselves do it personally. Because bots are still reliant to us, if we don't have knowledge in trading, never we expect this will function its one and results positive.

I think it's true that some traders may be very helpful with the help of trading bots.
however for someone who is a complete beginner and has no experience at all in the world of trading.
I think should avoid using trading bots first, for beginners it is better to learn to understand trading and the market manually.
if at first we enter the world of trading using trading bots in my opinion it will make us untrained.
I prefer to trade manually and learn more with my friends who have already entered the world of trading.
I think there's a lot of new things to learn when trading manually and we're going to be exposed to the risks head-on.
because I think we will get profits automatically, if we already have the skills and experience in trading.

One of the most common misconceptions of newbie that they do really believe that bots could really bring up some money or profits to them without even realizing thats not how bots do work.

It is for automation of trades and if you arent really that knowledgeable then you dont really have that idea on how to make some edits basing up on your trading strategy.

There are pre-set up bots which you could make use directly but of course if you do have zero knowledge then you would be completely dependent on it and
once you had lost money or capital then we do know on where you do blame next. 

Bot trading attracts newbies precisely because they believe they can just run the bot and then obtain profits without doing anything, but this is not true, you need to be an expert trader to be able to run a bot like that successfully, and this is because most bots are still not as good as human traders and their main advantage is they can trade without rest unlike a human.

So your trading strategy needs to be so good that even a bot which cannot use it as efficiently as a human can still generate profits with it, and this is not something easy to do.

Using bot for trading bring more disadvantages, i noticed that bot have different rules that it's involves before it can carry on operation, you will subscribe bot and before it will give you profit, and the profit bot will give you most of them will end in using it for subscription, so that is exactly what means traders to skip using bot application, because theirs no useful function indecencies that it will still leads you to lost.

Crypto trading bots was introduced to ease the burden of crypto traders but the use of trading bot is not always profitable as you presume it to be. Besides, the bots work based on settings which means the profit the crypto trader that uses the bot makes will be determined by her trading decision.
Crypto trading bots may be effective but it result is determined by the user. I like bots when it comes to arbitrage trading. They are always good at it.

My trading style can easily be bot programmed but there is just no better feeling than executing trades by oneself, of course bots have their own advantages like trading with no emotions etc but because I use muti time frame analysis and other confluences bots are not my best option unfortunately...some human touch is needed.

I personally won't trust a person who is giving advise that don't really have much idea on what he is talking about. I think his friend is just aiming for a referral bonus on that bot he bought. There are different kind of bot but most of them requires some trading knowledge and even fundamentals about cryptocurrency to make it more effect, Investing time on knowledge first would be the right way. Sooner or later your brother-in-law would realize that he don't need a bot just to earn in crypto.

A brother-in-law called me and came to my house to ask me if it is true what a robot can do in trading, (crypto trading) he told me that the investment to obtain the bot is 170usd and that you can join BInance, and that the robot makes 3 to 5 trades a day, and that it can be earned as long as you have money in the account, but that one manages, let's say, the amount of money to risk, then according to him and a friend he has it and it is something that impressed me , he made me talk to his friend on the phone, but the friend really doesn't know much, so he didn't help me at all, so I came to the conclusion that he better invest his time in reading trading books so that he himself makes his trading decisions and who will apply everything he knows about trading, is much better than a robot.

I can't get out of my mind if you are the owner of the site platform you are talking about or one of the corporate owners. Moreover, in my years of crypto trading, I have not seen any traders here who said that they made a lot of money with the trading bot. Is there anyone or many who can prove it?

As far as I know, there isn't yet, which means it's not proven to say that you will earn consistently here in crypto trading. Also, as far as I know, there is a fee if I'm not mistaken.

There are many trading bots available. It can be helpful, especially if you want to run a trade 24/7. I know some of my friends have done it but they were only active when the market is booming and not the present market. Some of my friends made profit and some lose money using trading bots. I prefer to do trades manually. I want to make it simple and I do not sleep on my trades unless I intend to them for days or even months.

For the newbies. I advice you to learn first how to trade and understand the market before spending money on trading bots. Trading bots are not smart, they only follow on your trade settings.

Certainly bad idea to jump into bot trading if not into the field already since very long time. The number 1 reason is you have to program the bot and have proper settings done before you could implement it. Many of them think you just have to tell bot I need profit in the next trade. Lolz. That’s really fun, but it’s not like and it will never work like that even with AI tools. You still need to have proper algorithm settings so that bot could understand everything from your balance to budget and from limit orders to market caps and so on. For me it’s not good option, I would rather just buy and sit by window to see if the coin has increased in the value or not.

that's what it is, wherein they will work based on their program.. Actually there's a lot of good bots nowadays when it comes trading but most of them become so expensive especially those common and and popular that still very effective till these days. So yeah like me who don't so much money to trade, i don't think that's worth it to provide.. 

I'm using this bot. It's cool and it works as expected https://www.cryptohopper.com/?atid=25311

That's the performance of using a trading bot and that's what differentiates it from trading manually,
they all have their advantages and disadvantages,
and honestly for me it's more profitable manually although we also need to learn and improve skills