Does auto trading bot make good profit ? - page 3.

Sonu_titu

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Quote from: Shogunisback on June 11, 2016, 08:14:19 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 ?

Previously I had a belief that I should trust only the bots developed on my strategy. As I had some bad experience in past relaying on others strategy bots. But, past one week I am using a bot which is managed through telegram. Only thing I need to do is share my API. I am still testing it so, doing with too less funds and also not suggesting the bot to others. Once My testing is over I would be able to answer is it worth or not.

But, till now the bot bets are in profit. Testing is under progress.

Bezobraznike

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Quote from: adroitful_one on January 12, 2020, 11:06:41 AM

Quote from: Bezobraznike on January 11, 2020, 08:27:24 AM

I never tried auto trading bot! Every time I saw people discussing about that half says it's good, other half says it's bad. I don't
like to risk too much, and looks like trading bot is a very risky investment.
Can someone with experience in using trading bots sum up everything that newbie should know about trading bots. I can't find
any conclusions about this matter. Thanks in advance for any answer, I hope that can help me in making decision to invest in
trading bot or not!

I would suggest you set up Gekko. Google Gekko trading bot and you'll see it's a completely free bot implementation with a lot of different trading algorithms you can play around with. Plus, it even has a live paper trader so you don't have to invest anything at all just to watch it work live. It also has a backtest feature where you can backtest the algorithm you're running for as far back as you would like. It's fun to play around with and it doesn't cost you anything to get started if you don't want to risk anything.

I will try Gekko only because you explained what is Gekko all about. It's free, you don't need to invest anything, I like that
because I don't like to invest in something I don't know nothing about. I will download it and try it, I will have fun and I will
learn something new.
Adroitful_one thanks a lot for sharing this with us, and thank you even more for this nice explanation! Wish you all the best.

adroitful_one

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Quote from: Bezobraznike on January 11, 2020, 08:27:24 AM

I never tried auto trading bot! Every time I saw people discussing about that half says it's good, other half says it's bad. I don't
like to risk too much, and looks like trading bot is a very risky investment.
Can someone with experience in using trading bots sum up everything that newbie should know about trading bots. I can't find
any conclusions about this matter. Thanks in advance for any answer, I hope that can help me in making decision to invest in
trading bot or not!

I would suggest you set up Gekko. Google Gekko trading bot and you'll see it's a completely free bot implementation with a lot of different trading algorithms you can play around with. Plus, it even has a live paper trader so you don't have to invest anything at all just to watch it work live. It also has a backtest feature where you can backtest the algorithm you're running for as far back as you would like. It's fun to play around with and it doesn't cost you anything to get started if you don't want to risk anything.

Gheka

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Quote from: Bezobraznike on January 11, 2020, 08:27:24 AM

I never tried auto trading bot! Every time I saw people discussing about that half says it's good, other half says it's bad. I don't
like to risk too much, and looks like trading bot is a very risky investment.
Can someone with experience in using trading bots sum up everything that newbie should know about trading bots. I can't find
any conclusions about this matter. Thanks in advance for any answer, I hope that can help me in making decision to invest in
trading bot or not!

First, we need to ask a question to ourselves, whether we trust our skills more or we believe in the working of computer systems, and maybe there will always be two different perspectives, one will trust the machine more, the other will trust their skills but surely, people will feel more reliable when they rely on their skills. Because machines, automated devices are not god, they will make mistakes and cannot be easily repaired, auto bot trading is such a system, it has strengths and weaknesses but it certainly won't be comparable with our intellect

Bezobraznike

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I never tried auto trading bot! Every time I saw people discussing about that half says it's good, other half says it's bad. I don't
like to risk too much, and looks like trading bot is a very risky investment.
Can someone with experience in using trading bots sum up everything that newbie should know about trading bots. I can't find
any conclusions about this matter. Thanks in advance for any answer, I hope that can help me in making decision to invest in
trading bot or not!

adroitful_one

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Quote from: FLoving on January 09, 2020, 12:51:48 PM

Quote from: Colt81 on January 09, 2020, 12:19:53 PM

To be honest, automated trading bots are only good for managing your portfolio's while you are away or you don't have any time to trade, but trading bots will definitely will not help you to make a successful trade, that is why it is still better if you just trade by yourself because it is still an effecient way for you to make a huge profit.

I have discussed this matter with a number of traders who are doing trade with bots and according to them with bots they are feeling well at normal times and are also making some money with the help of bot trade but sometimes a sudden high change in price make a trouble for these bots as they cannot think that why a change occurred and if the time is not to invest there the bot often invest.

It has been my experience that the opposite of that is true, at least with the algorithms I have run on Gekko. It seems like the bots tend to buy in at the right time. However, whenever it comes to picking the right time to sell, they really have issues. They'll all sell during a bull run too early and during a bear run they tend to hold onto the coin too long. There may be something in the settings somewhere to where I could tweak this. But, I haven't found it yet.

DevilSlayer

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Trading bot can give you profit and also losses, there is no perfect trading bot where we can guarantee all of our trades to win. The cryptocurrencies are too volatile, there are times that we cannot avoid losses. If we found a trading bot saying 100% winning rate, it is simply a scam because there is no both such existing like that. We should only use trading bots if it is effective to us but if it is not effective then we should ignore it.

reallester

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It's not a bad thing to use bot in your trading. In fact, it's very profitable to use bots. Using bots to trade notes rise and fall in Cryptocurrencies.

FLoving

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Quote from: Colt81 on January 09, 2020, 12:19:53 PM

To be honest, automated trading bots are only good for managing your portfolio's while you are away or you don't have any time to trade, but trading bots will definitely will not help you to make a successful trade, that is why it is still better if you just trade by yourself because it is still an effecient way for you to make a huge profit.

I have discussed this matter with a number of traders who are doing trade with bots and according to them with bots they are feeling well at normal times and are also making some money with the help of bot trade but sometimes a sudden high change in price make a trouble for these bots as they cannot think that why a change occurred and if the time is not to invest there the bot often invest.

wxxyrqa

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Quote from: Colt81 on January 09, 2020, 12:19:53 PM

To be honest, automated trading bots are only good for managing your portfolio's while you are away or you don't have any time to trade, but trading bots will definitely will not help you to make a successful trade, that is why it is still better if you just trade by yourself because it is still an effecient way for you to make a huge profit.

Until recently, I was very negative about trading bots in general. My opinion was formed due to reviews that negatively characterized the results of the trading bots. But the fact is that I have very little time left for trading cryptocurrency and I would like to at least slightly facilitate my activity with the help of trading bots. Most likely I will follow the example of some users who use trading programs to trade cryptocurrency, but only partially replacing their activities. I hope that with close monitoring, the results will be good.

Colt81

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To be honest, automated trading bots are only good for managing your portfolio's while you are away or you don't have any time to trade, but trading bots will definitely will not help you to make a successful trade, that is why it is still better if you just trade by yourself because it is still an effecient way for you to make a huge profit.

Linkkoin

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Quote from: zeingrind777 on January 09, 2020, 11:05:00 AM

Trading bots are not very good. Automatic trading bots are only programmed to execute orders such as buy or sell and place Stop Loss exactly as the program formula. Trading bots are also less able to adjust to certain market conditions because basically the way of thinking of trading robots is designed linearly, while at the time of news release the movements move fluctuated and randomly.

Some of this issues can be potentially addressed by quantum computers. Of course not in the next 4-5 years but in more or less foreseeable future.

zeingrind777

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Quote from: Shogunisback on June 11, 2016, 08:14:19 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 ?

Trading bots are not very good. Automatic trading bots are only programmed to execute orders such as buy or sell and place Stop Loss exactly as the program formula. Trading bots are also less able to adjust to certain market conditions because basically the way of thinking of trading robots is designed linearly, while at the time of news release the movements move fluctuated and randomly.

tungaqhd

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Quote from: Shogunisback on June 11, 2016, 08:14:19 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 trading bots can make some good benefits, however it can only do what it is programmed (your strategy) so it won't trade better than you. Many bot contain virus or malware so i think you shouldn't use it.

bettercrypto

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Quote from: Shogunisback on June 11, 2016, 08:14:19 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 ?

There are case that auto trading is good, but most of the time I do not trust with it. Instead, I am studying a lot for my trades so that I never regret with my execution. It is not good to depend our trades only in bot because there is no assurance that it will make profits. As we know that no one ever predicted the price of bitcoin correctly.

Wipeout2097

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As we all know this is era of Artificial intelligence (AI),I t is possible that Bot can do trading but these trading bots are in testing and initially stage.It will take a time to get a trustworthy and winning bot generations.

Till now no one bot available do always winning trade for you,claimed by I.Q option authorities. It is better to improve more knowledge about trading and get education from different platforms like BITCOINTALK,Rather waitnig for bots.

iv4n

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Quote from: Savemore on January 09, 2020, 01:55:28 AM

There are people who say yes and there are people who say no but one thing is sure trading bots are not holy grail where we can guarantee our profit. There are now many articles in the internet saying trading bots suck and it is better if they will trade on their own. The image of trading bots are now tarnished because of the losses that traders are keep experiencing but for me it is their own fault, if they did not use trading bots then they will avoid major losses.

People have different experience, and that is a normal thing. Think about auto trading as auto dice betting, just trading bot is more complicated than dice bot, in every way. Even thou there are some advanced dice bots, I didn't come up on any special one, I tried couple trading bots but without big success. I think that bots are holy grail among people, people would like to find a perfect one and to get passive income from that, but I think just 1 in 100 manage to make profit in the long term with any kind of bot.

Karmakid

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Auto trading bot makes good profit if you have a good strategy to program with it. It always depend on the commands or codes that you will right with it. I know a lot of people that are profiting from their trading bots but I am still hesitating to try it because I know that it is still better to do manual trading because it will help me to learn more.

Savemore

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There are people who say yes and there are people who say no but one thing is sure trading bots are not holy grail where we can guarantee our profit. There are now many articles in the internet saying trading bots suck and it is better if they will trade on their own. The image of trading bots are now tarnished because of the losses that traders are keep experiencing but for me it is their own fault, if they did not use trading bots then they will avoid major losses.

coin_1122

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Quote from: Jan from Acai.dev on January 08, 2020, 04:28:07 PM

As some pointed out already, generally speaking bots are made to save you time, not generate huge profits. Anyways, I thought I could share a flowchart I made about bots, take it with a grain of salt

https://twitter.com/acai_ai/status/1215010669877252097

I have tried many times through Bots which leads to losing my money even though I have predicted rightly. The current situation of the market is completely downtrend which always the price of altcoins kept decreasing, which this makes most of the people who are using bots are losing their money. Based on the market situation we have to use the bots.

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