Does auto trading bot make good profit ? - page 12.

thend1949

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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 ?

It has a good benefits of it because its automated but theres advantage if you are directly manage your trading because theres a chance that the altcoin will pump to the moon so if the bot set in only +1000 sats only.. You say that you should trade than this bot

Nitroshock

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Quote from: JarBinks on June 16, 2016, 10:38:19 PM

And sometimes not having a brain can be a good thing. Wink

True a bot cannot think about what it is about to do, it is up to the developer to infuse it with logic about what they want it to do.
Currently...Programs only do what people tell them to, if they do something wrong/bad/unethical it is the peoples fault, not the programs.
I can recall, on a few occasions, where coin wallets have done bad things, I don't see people saying "Bad Wallet", I see "Bad Dev".
Why are trading bots different?

oh, I went a little ranty there, Cheesy

Very well said. As with a lot of things, a trading bot is only as good as the developer behind it and the trader's ability to implement a profitable strategy. You can have slick code and an active dev yet some will still lose money because they don't take the time to learn and understand what they're doing. Conversely, someone with a few extra brain cells and a pound or two of effort can make a garbage trading bot work.

There is another good point you've touched on that's worth repeating and expanding... a bot doesn't think... it does what the developer/traders decide.

Besides what's already been mentioned, having a system that makes trades "without thinking" can be very beneficial if implemented properly. In this case, "without thinking" is the same as saying "without emotion", which means the bot will execute trades that perhaps you or I may not due to emotions clouding our judgement. It'll make the trades we wouldn't, or can't, and it'll only make the trades it is set to make.

There's good and bad on both sides. Definitely an interesting discussion.

rekinthis

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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 ?

If you're looking for a get rich quick scheme with no effort, then a bot really isn't the way to go forewards, in the short term a bot can react quicker and more efficiently than a human, and take advantage of the conditions so if that's what you're looking for then it may be ideal
However, i'd suggest a serious amount of programming knowledge, bots are not human, cannot adapt, spot changes or patterns and adjust, left unsupervised with no real knowledge of how they work they easily possess the ability to sap all of your resources with little to no effort, be careful

JarBinks

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Quote from: beerlover on June 17, 2016, 03:42:33 PM

And also the price has a big fluctuations and big rise nowadays so in a sudden rise only those people can make profit who do trade manually, bot those who have set the bots for it , they will lose all the coins at a certain low price relative to that time.

That would be true if the bot that was being used had not been taught to deal with the situation.
I am not saying bots are perfect and I am not saying they don't make mistakes what I am saying is that a good bot can be quickly educated on changing conditions and adapt.
In general bots do not follow the Ron Popeil philosophy "Set It..And Forget it", just like manual trading they need to cared for and loved.

beerlover

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Quote from: The_prodigy on June 14, 2016, 08:43:13 PM

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 ?

The only thing that i suggest to you better to use manually because there's no sureness. it can only help you to manage and record some of your profit. no one become rich in bot depends in your strategy how you manage your trading using bot..

And also the price has a big fluctuations and big rise nowadays so in a sudden rise only those people can make profit who do trade manually, bot those who have set the bots for it , they will lose all the coins at a certain low price relative to that time.

Herbert2020

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Quote from: GermanFoobla on June 13, 2016, 10:55:49 AM

Quote from: Herbert2020 on June 12, 2016, 03:35:08 AM

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 ?

yes and no.

but if you are looking for a magical bot that you just click a button and it makes you rich then i have to say there in none. especially if you don't know about trading and have to experience in the matter.

but bots can help you a lot in trading and watching the market and earning profit ONLY if they are coded well and you know how to use them based on your knowledge of the market.

i dont think it is very useful to use auto traing bots because as you can see the price is not very stable at the moment and when the price rise allot the bots does not see it on time so be careful always have a look self.

as i said it is not magic, it depends on how you (or the developer of the bot) have coded the bot. if you have foreseen all the variables and made appropriate code for it then it can be done.

computer on its own doesn't have a mind so you have to create all these situations in your mind and then translate it into coding (machine language) so computer can decide on your behalf. so it can be done but it is not easy.

sana54210

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Quote from: NyeFe on June 14, 2016, 07:41:11 PM

Well, if you're "smart" enough to entrust you capital on a bot which only monitors graphs, and ignores news sources such as Twitter, bitcoinTalk, coinbase... all the financial news agencies. Then you probably deseve whatever ~~"profit"~~ you make

I am also thinking the same that why will a person leave his wealth fro the bot to play with, it is really a high risk for our wealth, the real traders will never ever rely on these bots for their hard earned money, but only those who will start to trade with only some satoshis.

Sled

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I think bots is not a good idea to make a good profit because they are only programmed to do the thing that they need to do. So, they will not see the and analyze the price movement if it will be higher or not. Better to trade by your own than using bots.

JarBinks

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Quote from: DoublerHunter on June 16, 2016, 08:36:55 PM

Quote from: bestluck on June 13, 2016, 07:56:46 AM

Do not rely on auto trading bot, they are not that much genius which you are, you can trade more better than bots and can earn better than them.

Yes that's right because you are the one who will analyze and make a better decision than bots. Bots is for lazy people.

So you are saying that the people that control 25% of the NYSE daily volume through Program Trading are lazy people?
Well they may be lazy but, when they get it correct, I am pretty sure they make a decent amount of money.

Again I went a little ranty!!

JarBinks

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Quote from: DashCoinDark on June 16, 2016, 07:17:16 PM

Quote from: JarBinks on June 16, 2016, 07:04:32 PM

Quote from: Nitroshock on June 16, 2016, 06:47:52 PM

I did a test with an automated trading bot a while back and even with highly customizable options, I was never able to "dial it in" where it would trade profitably, consistently. It'd make a little here and there then turn around and make 10 losing trades in a row for no apparent reason. The cons definitely outweighed the pro of being lazy and overall my test ended in the red.

It's possible for a good trading bot to be profitable over time, but it isn't easy and most likely requires some degree of babysitting in order to ensure the code used continues to be profitable with more trades than not.

In my case it was obvious that some settings worked some of the time and some worked others... sometimes nothing worked. The trick would be figuring out what works and when and then adjusting the trade options on the fly.

MHO - Don't use a bot, you'll do better learning the what and when and trading yourself.

I agree. Trade without a bot for a long time to understand all of the moving parts.
Then you can better understand if a bot is good and what it is doing well or poorly.

And if you get adventurous you can develop your own and then you will have 100% control over what it does

Yes this is true without any doubts, but using a bot is still not good because bots do not have a brain so they cannot think about the consensuses of a thing they are doing..

And sometimes not having a brain can be a good thing. Wink

True a bot cannot think about what it is about to do, it is up to the developer to infuse it with logic about what they want it to do.
Currently...Programs only do what people tell them to, if they do something wrong/bad/unethical it is the peoples fault, not the programs.
I can recall, on a few occasions, where coin wallets have done bad things, I don't see people saying "Bad Wallet", I see "Bad Dev".
Why are trading bots different?

oh, I went a little ranty there, Cheesy

DoublerHunter

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Quote from: bestluck on June 13, 2016, 07:56:46 AM

Do not rely on auto trading bot, they are not that much genius which you are, you can trade more better than bots and can earn better than them.

Yes that's right because you are the one who will analyze and make a better decision than bots. Bots is for lazy people.

DashCoinDark

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Quote from: JarBinks on June 16, 2016, 07:04:32 PM

Quote from: Nitroshock on June 16, 2016, 06:47:52 PM

I did a test with an automated trading bot a while back and even with highly customizable options, I was never able to "dial it in" where it would trade profitably, consistently. It'd make a little here and there then turn around and make 10 losing trades in a row for no apparent reason. The cons definitely outweighed the pro of being lazy and overall my test ended in the red.

It's possible for a good trading bot to be profitable over time, but it isn't easy and most likely requires some degree of babysitting in order to ensure the code used continues to be profitable with more trades than not.

In my case it was obvious that some settings worked some of the time and some worked others... sometimes nothing worked. The trick would be figuring out what works and when and then adjusting the trade options on the fly.

MHO - Don't use a bot, you'll do better learning the what and when and trading yourself.

I agree. Trade without a bot for a long time to understand all of the moving parts.
Then you can better understand if a bot is good and what it is doing well or poorly.

And if you get adventurous you can develop your own and then you will have 100% control over what it does

Yes this is true without any doubts, but using a bot is still not good because bots do not have a brain so they cannot think about the consensuses of a thing they are doing..

JarBinks

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Quote from: Nitroshock on June 16, 2016, 06:47:52 PM

I did a test with an automated trading bot a while back and even with highly customizable options, I was never able to "dial it in" where it would trade profitably, consistently. It'd make a little here and there then turn around and make 10 losing trades in a row for no apparent reason. The cons definitely outweighed the pro of being lazy and overall my test ended in the red.

It's possible for a good trading bot to be profitable over time, but it isn't easy and most likely requires some degree of babysitting in order to ensure the code used continues to be profitable with more trades than not.

In my case it was obvious that some settings worked some of the time and some worked others... sometimes nothing worked. The trick would be figuring out what works and when and then adjusting the trade options on the fly.

MHO - Don't use a bot, you'll do better learning the what and when and trading yourself.

I agree. Trade without a bot for a long time to understand all of the moving parts.
Then you can better understand if a bot is good and what it is doing well or poorly.

And if you get adventurous you can develop your own and then you will have 100% control over what it does

Nitroshock

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I did a test with an automated trading bot a while back and even with highly customizable options, I was never able to "dial it in" where it would trade profitably, consistently. It'd make a little here and there then turn around and make 10 losing trades in a row for no apparent reason. The cons definitely outweighed the pro of being lazy and overall my test ended in the red.

It's possible for a good trading bot to be profitable over time, but it isn't easy and most likely requires some degree of babysitting in order to ensure the code used continues to be profitable with more trades than not.

In my case it was obvious that some settings worked some of the time and some worked others... sometimes nothing worked. The trick would be figuring out what works and when and then adjusting the trade options on the fly.

MHO - Don't use a bot, you'll do better learning the what and when and trading yourself.

socks435

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Bot only works to help you to be lazy. it sometimes the bot can help and sometimes is worst bot to use..
And its depends if what altcoin you will choose.. bot can only help to update the price of altcoin what you are promoting and make a profit when the price is high.. Better to choose manual trading than a bot..

Adrayrd

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Quote from: SilverPunk on June 16, 2016, 10:37:27 AM

For me Yes, especially those who don't have a plenty of time to watch and waut trading from time to time .just set at that amount so it is waitin to sold or bought .but it is much better if manually.

You are right about it, it can be good if you are really have no time but I do not recommend it if you are just doing it because of easiness, doing it yourself its just way better.

iqlimasyadiqa

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I do not believe the computer system. I fear they have set up for a particular condition. if given the choice I would do it manually. I could see prices and direct action. experience and thought we would highly honed determine when to buy and when to sell.

SilverPunk

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For me Yes, especially those who don't have a plenty of time to watch and waut trading from time to time .just set at that amount so it is waitin to sold or bought .but it is much better if manually.

siameze

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Quote from: Sampey on June 15, 2016, 11:39:26 AM

Hi,
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Otherwise, if you're looking for a magic money machine don't check my Trader Cheesy

From all the bots available to me, the one I use the most is CAT actually. The tools provided make for a much easier time trading.
Just my 0.2BTC

Sorrowfox

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Yes,Coz sometimes i do not have enough time just to look alt coin value was,So I Always Use auto trading bot.

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