Does auto trading bot make good profit ?

cheecko1122

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Quote from: Shogunisback on June 11, 2016, 09:14:19 PM

Does automated Bitcoin or other crypto currency trading bot can make some good benefits ? Is it good to use it ? What is the best bot ?

Some times it gives good profit but mostly i have witness that most of traders are not earning from this method because if you dont have higher capital in your account also this is a huge risk. Just try to learn fore trading seriously if you want to make money from it then start trading, dont need to look for shortcuts which always harmful.

TokenBot_

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Quote from: cryptolord2077 on November 06, 2020, 07:35:29 PM

I have come across many automated trading bots that promise great profits. However, I have never met a bot that would really bring this profit on a stable basis.
As a rule, you are asked to pay for the subscription, then make a deposit, then the bot shows profit for a month or more, and then the entire deposit is drained due to "unforeseen circumstances".

Bots are simply tools, tasked at doing specific things. It's a trader's specific strategy that brings profit...but with bot execution.

matchi2011

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Quote from: cryptolord2077 on November 06, 2020, 07:35:29 PM

I have come across many automated trading bots that promise great profits. However, I have never met a bot that would really bring this profit on a stable basis.
As a rule, you are asked to pay for the subscription, then make a deposit, then the bot shows profit for a month or more, and then the entire deposit is drained due to "unforeseen circumstances".

That's reality, only those who failed to workout with their own knowledge will fall to this kind of schemes. That foreseen circumstances burned everything inside your wallet.

You needed to invest time and don't take the shortcut, there's none that exist, once you already have the knowledge and skills it's easier
to build best strategy that you can easily input to your bot.

cryptolord2077

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I have come across many automated trading bots that promise great profits. However, I have never met a bot that would really bring this profit on a stable basis.
As a rule, you are asked to pay for the subscription, then make a deposit, then the bot shows profit for a month or more, and then the entire deposit is drained due to "unforeseen circumstances".

XZERO1

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It depends on you and how you usually trade and what is your risk tolerance really, for example I know some scalpers had some success with tradings bots and could gain some percentage of profit out of some trading pairs like LTC/BTC and ETH/BTC, but if you are in anyway looking to like let the bot buy something for mid/long-term for you and sell it a few days later higher then that's not going to work, in other words if you are trading in longer terms trading bots are not that suitable and they can fail you terribly at times simply because every day the sentiment of the market could change and bot can not catch those and reflect them on its orders and changes its behavior based on that everyday.

gabbie2010

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Quote from: Bitcoin Seller on November 03, 2020, 04:25:54 PM

Quote from: pankowri on November 02, 2020, 02:48:15 PM

I don't think so. Just imagine, if you set a machine then it is giving you a certain amount of profit after a certain period. If it happens then everyone will take this advantage and who will lose? I can not understand the mechanism though.

By the way, bot trading exchanges are too annoying for me to use. Because those exchanges give us the fake volume. So I don't think that bot trading makes a good profit actually.

No one professional trader will use bots. How can we entrust machines our money and decisions? You can use bots just for personal interest. For instance, I trade myself, and later, I compare the resolts of my job with the bots predictions’probability.

Majority of Bot makers only sell to make profits, the more the sell the money they earned a profitable bot wouldn't be sold out by the producer they would rather use it to trade and make much money themselves.
According to research bots picking up trades wouldn't be based on fundamental news that is a major drawback.
Personally I am not a fan of Bot I prefers manual form of trading using my brain to take trading decisions, while many traders might not have time to sit and trade, I used higher timeframe 4 Hour and Daily to pick my trades this wouldn't take my time.

Benefactor

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Market won't occurring by your bot procedure. Simply rehearse and learn more insight. That is the best way to get profits by exchanging. Numerous individuals just to screen the bots and make some minor changes if an issue emerges, in any case each exchange is computerized there and they are raking in some serious cash every day.

StephenJH

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Quote from: Bitcoin Seller on November 03, 2020, 04:25:54 PM

Quote from: pankowri on November 02, 2020, 02:48:15 PM

I don't think so. Just imagine, if you set a machine then it is giving you a certain amount of profit after a certain period. If it happens then everyone will take this advantage and who will lose? I can not understand the mechanism though.

By the way, bot trading exchanges are too annoying for me to use. Because those exchanges give us the fake volume. So I don't think that bot trading makes a good profit actually.

No one professional trader will use bots. How can we entrust machines our money and decisions? You can use bots just for personal interest. For instance, I trade myself, and later, I compare the resolts of my job with the bots predictions’probability.

I don't agree, there are many trading bots for sale by professional traders because they wanna increase the revenue by selling their hard work to newbies traders. If the trading strategy is based on technical analysis then it is meaningless to apply human intervene. Just use Google for finding proven statements based on automated trading bots. I don't write about the fake Instagram trading stars who can do everything to bring a new customer for an affiliate network. The pro traders know what to do with the bots and they can shut down the trading bots easily if they see the market doesn't correlate with the software of trading bots.

Bitcoin Seller

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Quote from: pankowri on November 02, 2020, 02:48:15 PM

I don't think so. Just imagine, if you set a machine then it is giving you a certain amount of profit after a certain period. If it happens then everyone will take this advantage and who will lose? I can not understand the mechanism though.

By the way, bot trading exchanges are too annoying for me to use. Because those exchanges give us the fake volume. So I don't think that bot trading makes a good profit actually.

No one professional trader will use bots. How can we entrust machines our money and decisions? You can use bots just for personal interest. For instance, I trade myself, and later, I compare the resolts of my job with the bots predictions’probability.

DarkDays

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Quote from: sambuddha on October 31, 2020, 05:14:15 PM

Quote from: BuNga_cute on October 27, 2020, 05:06:01 PM

Maybe it depends on how we use the trading bot, because the trading bot doesn't run automatically on its own. Must be set first
and must be updated regularly to be able to get profit. For me trading bots can't make a good profit, maybe because I can't do
the settings properly. So I often experience losses when using trading bots, even my capital runs out. That's why I prefer manual
trading only.

I would recommend the ZenBot trading bot. It's an open source platform that supports a wide range of exchanges including Bitfinex, Bitstamp, Poloniex and Kraken. But there is always a risk of losing your money. This must always be remembered.

The above advice must not be underestimated. While some people think that bots can save you thousands by the same principles it can also lose you in the same level.

Whether you get good profit or not depends on what you define it as i.e. 15 or 20%? In practice, I found that when added stop loss the bot didn't trigger the selling so ended up losing more, and happened on more than one occasion. So, I now learnt my lesson and not rely on bots to the the thinking and action for me Wink

This is the approach I take at least when I have more at stake

pankowri

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I don't think so. Just imagine, if you set a machine then it is giving you a certain amount of profit after a certain period. If it happens then everyone will take this advantage and who will lose? I can not understand the mechanism though.

By the way, bot trading exchanges are too annoying for me to use. Because those exchanges give us the fake volume. So I don't think that bot trading makes a good profit actually.

1GUARDIAN

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Automated trading is able to give normal profit only if the market is growing steadily, in this case, if the bots have a trading program designed for growth, then this can actually give a good profit.

Or vice versa, if the market is steadily falling in price and if the bots are set to trade during the fall, then the income can also be consistently high.

But there is a small but significant nuance - since the market is unpredictable, bots need to be constantly controlled, directing them in the right direction.

Otherwise, they will trade and create big losses for you.

jemimah_f3

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I don't trust my money to any bots, trading algorithms change often so chances that you may lose are very high. It's better to get knowledge and experience yourself. If bots were so profitable and reliable everybody would've been millionaire already lol.

DrG

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Quote from: TopT3ns on October 31, 2020, 11:05:22 PM

Quote from: DrG on October 31, 2020, 09:16:04 PM

5% monthly gain for the possibility of losing your basis of whatever you have on the exchange? Considering the lax security around most of the exchanges it doesn't seem worth it to expose your coins to a hack/exchange closure if you're using automated trading. You can probably go years without having an event happen, but when it does it will most likely erase your gains and then some.

When using a trading bot I think it will be terrible because there is activity by a third party that can find out your assets by inserting some unknown scripts so that your assets can be taken by third parties, that is the most terrible risk, so in my opinion don't think too much about profits but think about the capital used.

Well anybody who is using closed source software that they haven't commissioned for their own use is just asking to lose their stuff. There are open source trading bots available that have been vetted by the community and you can compile it yourself, but that will still not remove the risk of keeping your assets on a centralized exchange while you're not actively engaged in interacting with your funds. That's the single greatest risk with this endeavor. Of course there's chance the bot malfunctions or runs into an unanticipated error and makes bad trades.

Xinarae*

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The risk is higher when trading using bots do not use bots when trading. I like to trade manually but in the case of those who have a good idea about bots there is a high profit in trading through the use of bots In the case of big business trading is very profitable. More risk in the case of newcomers they do not understand the correct concept of bots. Using bots will depend entirely on the boss himself trading is much easier if you know the proper use of bots.

TopT3ns

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Quote from: DrG on October 31, 2020, 09:16:04 PM

5% monthly gain for the possibility of losing your basis of whatever you have on the exchange? Considering the lax security around most of the exchanges it doesn't seem worth it to expose your coins to a hack/exchange closure if you're using automated trading. You can probably go years without having an event happen, but when it does it will most likely erase your gains and then some.

When using a trading bot I think it will be terrible because there is activity by a third party that can find out your assets by inserting some unknown scripts so that your assets can be taken by third parties, that is the most terrible risk, so in my opinion don't think too much about profits but think about the capital used.

DrG

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5% monthly gain for the possibility of losing your basis of whatever you have on the exchange? Considering the lax security around most of the exchanges it doesn't seem worth it to expose your coins to a hack/exchange closure if you're using automated trading. You can probably go years without having an event happen, but when it does it will most likely erase your gains and then some.

sambuddha

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Quote from: BuNga_cute on October 27, 2020, 05:06:01 PM

Maybe it depends on how we use the trading bot, because the trading bot doesn't run automatically on its own. Must be set first
and must be updated regularly to be able to get profit. For me trading bots can't make a good profit, maybe because I can't do
the settings properly. So I often experience losses when using trading bots, even my capital runs out. That's why I prefer manual
trading only.

I would recommend the ZenBot trading bot. It's an open source platform that supports a wide range of exchanges including Bitfinex, Bitstamp, Poloniex and Kraken. But there is always a risk of losing your money. This must always be remembered.

Quidat

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Quote from: hridoyb on October 29, 2020, 02:11:35 PM

I never use bot for trading.I am trading always normally and manual so i have no idea about it. If you used bot properly get some profit from the trade. But I recommended to always try to trade manually

Bots are just create for automation of trades but people do really believe that it can make money for them which had been said above same by other member of this forum.
Its for automation but people do make it too far to believe that this is some sort of advantage compared to those who do make manual trades but the truth is, that do still requires
traders knowledge for it to be effective.
If you set it out good and effective then it will be profitable but we know that market do change so we need to fickle it up again until it will show up some greens.

hridoyb

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I never use bot for trading.I am trading always normally and manual so i have no idea about it. If you used bot properly get some profit from the trade. But I recommended to always try to trade manually

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