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Topic: Does someone use trading bots? (Read 517 times)

legendary
Activity: 2534
Merit: 1338
December 04, 2021, 05:00:13 PM
#87
Actually professional traders use trading bots not just for automatic execution of trade but for notification of the changes of the market and the status of it. I remember using RSI bot where it analyzes whether the the coins is overbought or oversold and it's pretty accurate but it is much more accurate if you use other indicators such as simple support and resistance or trend lines.
Bots that give signals are more common than bots that actually execute trades, and this is because many traders do not trust that a bot will not make a mistake when setting up a trade and then they lose money because of it, however if you can code a bot that can generate signals about potential good trades that you can make, then you are just one step away from creating a trading bot as the only thing left to do at that point is code the module that executes a trade based on the indicators the market is showing at the time.
member
Activity: 412
Merit: 10
December 04, 2021, 08:58:41 AM
#86
Bots are utilized by merchants to exploit the digital money advertises that exchange all day, every day from one side of the planet to the other.
The benefit bots have over financial backers is they can respond faster Meanwhile, most financial backers additionally don't have the opportunity to devote to consistently get everything exchange—something that bots can do One critical sort of bot is the exchange bot which hopes to exploit value inconsistencies across trades.
legendary
Activity: 2590
Merit: 1882
Leading Crypto Sports Betting & Casino Platform
December 04, 2021, 07:35:15 AM
#85
Currently, a large number of people use trading bots. It enhances the yield and improves a person's chances of producing money. It is capable of determining the time and assisting in trading at a logical time. Trading bots come in a variety of forms, and it is up to the individual to decide which form of trading bot he wants to use. If you have no prior experience with bots, it does not appear to be a good idea to utilise them. Because you can't utilise it if you don't know how to use it.

The truth is very difficult for me this type of tool, besides that there are many exchanges that do not allow the use of it because you can run the risk of a possible ban, however I know that they have existed all their lives, in fact it is very It is possible to highlight that the majority of people who use bots are not many, because bots tend to act according to the technical analysis that is implemented and this is currently a double-edged sword because events worldwide are passing rapidly, such as covid -19 among others, I prefer to use or know where you can get the bot that does high-frequency trading, that there is almost no relevant information.
legendary
Activity: 2660
Merit: 1009
December 02, 2021, 02:30:40 AM
#84
Actually professional traders use trading bots not just for automatic execution of trade but for notification of the changes of the market and the status of it. I remember using RSI bot where it analyzes whether the the coins is overbought or oversold and it's pretty accurate but it is much more accurate if you use other indicators such as simple support and resistance or trend lines.
sr. member
Activity: 2184
Merit: 251
SOL.BIOKRIPT.COM
December 02, 2021, 01:24:34 AM
#83
Hello everyone.

Recently I became interested in the topic of trading bots, so I decided to study the information about it. After reading several articles, I realized that there are many different opinions and therefore it is very difficult to decide for myself whether to use bots well or badly.

So I decided to try a few bots. I drew attention to the bot announcement from NWC. I think it's better to use software from a well-known company. This gives more confidence in a good result. As far as I understand, a bot for testing on historical data uses certain algorithms to automatically detect the most important patterns on the charts.

However, is it possible that, in addition to simply detecting patterns, the bot also calculates the technical price target and looks at how many patterns reach it, so that the percentage of success of the trade can be determined?

How do you feel about trading bots? Have you ever used it and can you advise something about this?


I'm never use a trading bot btw, my reason is trading bot doesn't guarantee my profits and some of them are only a joke. It's better to build our skills rather than depending on a bot, in my place some people made a fake trading bot and guarantee big return from what they invest people who understand wont easily get fooled.
legendary
Activity: 2534
Merit: 1338
December 01, 2021, 05:32:39 PM
#82
I have used them for years and I can tell you that it is definitely a tricky situation to be involved in crypto bots. You are getting something that is the most magnificent "increaser" in the sense that whatever you do, that bot will increase it by 10x. Obviously there are simply just failed bots that never work properly, those are not the ones I am talking about. Usually a bot can increase what you can do by tenfold but that means you are going to be very very careful as well.

I have seen people who were bad traders and wanted to use a bot to make a profit automatically, the whole idea of "just sit back, relax and watch your profits grow" is not true at all, will never be true, in no bot at all. It is always the trader who needs to configure the bot correctly and perfectly, so if you are great then you will profit 10x more, if you are horrible, you will lose 10x more.
Exactly, many people think of bots as automatic money making machines and this is not true at all, whatever you do is amplified by the bot, so if you are losing money in the markets then all of what the bot is going to do is to lose the money even faster, but if you are a good trader then the bot gives you the ability to trade without rest and even more importantly it can find more opportunities to trade because as humans we have limitations about the number of markets we can watch, while this is not a problem for a bot.
newbie
Activity: 12
Merit: 0
December 01, 2021, 10:35:29 AM
#81
Sometimes the best things are the simplest, believe me. There are tons of people who can talk about backtesting, TA analisys , strategies etc...
One simpe thing : Buy 1 apple at price X and sell for X+Y. once that triggers => rebuy that apple for price X again. So you have a profit of Y.

Repeat this for 10, 100 or 100 different prices of X (x.10, x.20, x.30 etc.....)

What the bot does? Simplifies and automates all these that i wrote above.

My personal opinion! Cheers  Wink

hero member
Activity: 2072
Merit: 656
royalstarscasino.com
November 30, 2021, 06:40:31 PM
#80
I have used the trading bot at the past.
But I decided to stop it because:
1. It is a very cheap trading bot, so it is also very risky
2. Not really effective and efficient working on me  because that cheap price or even I didn't really know how to operate
3. We must be also smart and know enough the best ways to set the trading bot, if we don't really know, we may lose it, too  Grin

Btw, I am actually interested to use that kind of trading bit if it uses AI technology with more effectiveness, efficiency, smart trading bit, and also working on.
But I also realize that the price of that kind of trading bot is very expensive.
That is why, right now, I prefer to do trading manually  Cheesy
newbie
Activity: 12
Merit: 0
November 30, 2021, 05:24:23 PM
#79
im the developer of such a bot with a simple strategy. Works with coinbase and binance. if someone is interested i will share a link. its very new project.

BR
hero member
Activity: 2926
Merit: 722
DGbet.fun - Crypto Sportsbook
November 30, 2021, 04:41:02 PM
#78
Don't rely too much on trading robots when trading because trading bots are just a trader's tool

if you are a novice trader and just trying trading bots then you will find it difficult to make money unless you buy expensive full trading bots

try to learn first trading with small capital, if trading suits you then you can try using a trading bot

Seems like OP hasn't try the effects of book order on centralized exchanges, that's when you know the power of bots manipulation in trading. I'm not an expert but i know very well how trading bots behaves with technical trends charts.
Like kucoin exchange for examples, the design bots will appear plenty of buy order once they noticed that a a resistance has been tested but will disappear as soon as it be broken by high pressure sell order. If your Bots is not well configure and follow those manipulation, you are doom mehn.
If youre not experienced or totally noob then you wont able to to determine the movement of those bots on orderbooks.You could really see and notice

those if you do already have some experienced eyes or lets say you do already have the knowledge on trading.Of course there are lots who had been using up bots into their trades.

This is a tool for automation which its understandable that its useful on common aspect.
hero member
Activity: 2926
Merit: 640
November 30, 2021, 02:46:03 PM
#77
I have used them for years and I can tell you that it is definitely a tricky situation to be involved in crypto bots. You are getting something that is the most magnificent "increaser" in the sense that whatever you do, that bot will increase it by 10x. Obviously there are simply just failed bots that never work properly, those are not the ones I am talking about. Usually a bot can increase what you can do by tenfold but that means you are going to be very very careful as well.

I have seen people who were bad traders and wanted to use a bot to make a profit automatically, the whole idea of "just sit back, relax and watch your profits grow" is not true at all, will never be true, in no bot at all. It is always the trader who needs to configure the bot correctly and perfectly, so if you are great then you will profit 10x more, if you are horrible, you will lose 10x more.
full member
Activity: 546
Merit: 148
November 30, 2021, 12:12:25 PM
#76
Don't rely too much on trading robots when trading because trading bots are just a trader's tool

if you are a novice trader and just trying trading bots then you will find it difficult to make money unless you buy expensive full trading bots

try to learn first trading with small capital, if trading suits you then you can try using a trading bot

Seems like OP hasn't try the effects of book order on centralized exchanges, that's when you know the power of bots manipulation in trading. I'm not an expert but i know very well how trading bots behaves with technical trends charts.
Like kucoin exchange for examples, the design bots will appear plenty of buy order once they noticed that a a resistance has been tested but will disappear as soon as it be broken by high pressure sell order. If your Bots is not well configure and follow those manipulation, you are doom mehn.
full member
Activity: 1292
Merit: 101
Vave.com
November 30, 2021, 10:26:26 AM
#75
Seriously have not really used any bot before and i don't really believe in trading bot, I believe in doing your technical analysis yourself before entering your trade. Have heard different bad stories about trading bit failing people but I believe there will definitely be some that will be good but have not tried any before because I believe in me trading by myself.
many people want to get something instantly, that's why they use bots even for trading. I agree that it is better to develop yourself in the world of trading than using bots. we don't know how the system will work, and if we're too busy, it's likely to end badly. personally, i never use bots. Well, I think the results I get can be maximized with my own efforts. if I get a loss, then it will be a lesson to be taken.
I actually never believe the bots and even i didn't trade any trade with it .It is actually do the trade with strategy attached itself .If the strategy gone into the fall you will loose your fund .The couple of strategy may be combine with that .However it is always better to research and do our trade as you said if we do any wrong we can be corrected it for the future and our experience wil be increased on trading .So that i think we need to avoid it and make use our strategy to work for us for that we have to study always and research and gathered information .Hope we can be succeed .
sr. member
Activity: 1344
Merit: 253
November 30, 2021, 09:47:57 AM
#74
Hello everyone.

Recently I became interested in the topic of trading bots, so I decided to study the information about it. After reading several articles, I realized that there are many different opinions and therefore it is very difficult to decide for myself whether to use bots well or badly.

So I decided to try a few bots. I drew attention to the bot announcement from NWC. I think it's better to use software from a well-known company. This gives more confidence in a good result. As far as I understand, a bot for testing on historical data uses certain algorithms to automatically detect the most important patterns on the charts.

However, is it possible that, in addition to simply detecting patterns, the bot also calculates the technical price target and looks at how many patterns reach it, so that the percentage of success of the trade can be determined?

How do you feel about trading bots? Have you ever used it and can you advise something about this?

I've never used bots and I don't seem interested. I prefer to learn manual trading because my hope is that from trading later I can live and become the main source of income. bots do not have psychology, while every trader has feelings, so at certain times bots cannot work optimally, in my opinion, therefore manual trading for me is better
full member
Activity: 868
Merit: 106
November 30, 2021, 09:16:27 AM
#73
Those who trade in large numbers some of them often use bots, for me trading bots is better for those of us who are always actively trading in crypto. But keep in mind that bots also cannot provide 100% profit, some traders also experience losses due to using bots. Here you need to be careful in choosing bots from companies that sell them. Look for companies that manufacture bots and the bots they sell are often profitable.
sr. member
Activity: 1638
Merit: 339
November 30, 2021, 09:00:20 AM
#72
I don't use bots in trading, using bots in my opinion is only for those who trade full time. However, bots cannot guarantee full profits, there are risks that cannot be controlled. A trading system that is assisted by bots, for beginners it seems that they have no more losses because they have spent capital for it. However, until now it is still under discussion, only a few have had success with trading using bots.
legendary
Activity: 3318
Merit: 1128
November 29, 2021, 12:51:31 PM
#71
I had never bother to learn how to use a bot for trading because I am not convinced about using any forms of automation in my trades, such as Expert Advisor EA in forex trading and bot for crypto trading, I prefer to learn how to trade and manually place my trades without involving any third party tools, no wonder those automated trading tools fails as a result of volatility in the price of cryptocurrencies, though many newbies believes that It will take quite some time to learn trading and become profitable but will rather adopt or use a bot in assisting them to trade, to make quick profits.
I would say you are both right and wrong at the same time. You could bother yourself with learning, and there are some decent bots out there that would help you as well and if you are a great trader yourself then you could probably be good with it. However the difference is that we are talking about something that is only a "helper" and for some reason people think that buying a bot would automatically make them some profit, and it is not like that at all. You could make some profit but the reality is that we are talking about something that is rarely ever like that, it is usually something that would make you a bit of profit only after you configure it properly.
sr. member
Activity: 742
Merit: 250
November 29, 2021, 11:34:57 AM
#70
Hello everyone.

Recently I became interested in the topic of trading bots, so I decided to study the information about it. After reading several articles, I realized that there are many different opinions and therefore it is very difficult to decide for myself whether to use bots well or badly.

So I decided to try a few bots. I drew attention to the bot announcement from NWC. I think it's better to use software from a well-known company. This gives more confidence in a good result. As far as I understand, a bot for testing on historical data uses certain algorithms to automatically detect the most important patterns on the charts.

However, is it possible that, in addition to simply detecting patterns, the bot also calculates the technical price target and looks at how many patterns reach it, so that the percentage of success of the trade can be determined?

How do you feel about trading bots? Have you ever used it and can you advise something about this?

I think the use of BOT is only suitable for those who trade a lot in 24 hours with large amounts of money. Do not depend on BOT because it cannot be completely accurate. Using BOT is not always profitable, it even makes you lose. If you don't trade a lot, do it manually so you can capture the market and have a better judgment.
member
Activity: 1165
Merit: 78
November 29, 2021, 10:29:00 AM
#69
Cryptocurrency trading bot makes trading more easier and effective but your personal knowledge in crypto trading does the most vital job before you can trade profitably.
The use of a trading bot doesn't guarantee your trading will be successful either but I will advise you to develop your knowledge in crypto trading before making use of a bot.

sr. member
Activity: 2842
Merit: 326
Vave.com - Crypto Casino
November 29, 2021, 09:03:55 AM
#68
Seriously have not really used any bot before and i don't really believe in trading bot, I believe in doing your technical analysis yourself before entering your trade. Have heard different bad stories about trading bit failing people but I believe there will definitely be some that will be good but have not tried any before because I believe in me trading by myself.
I had never bother to learn how to use a bot for trading because I am not convinced about using any forms of automation in my trades, such as Expert Advisor EA in forex trading and bot for crypto trading, I prefer to learn how to trade and manually place my trades without involving any third party tools, no wonder those automated trading tools fails as a result of volatility in the price of cryptocurrencies, though many newbies believes that It will take quite some time to learn trading and become profitable but will rather adopt or use a bot in assisting them to trade, to make quick profits.
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