Does using trading Bots is more profitable than conventional trading? - page 4.

Wexnident

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Bots don't really trade for you, more like they just make your life easier. It's still basically you trading, but it's more automated, more reliant on automatic response that you've programmed, and less reliant on your instantaneous judgments. It's like if you ask 5 programmers to program an AI, they could basically have 5 different types of program that do the same thing, just that the difference is the process of how to achieve that end. That's how bots basically work.

Quote from: Kelvinid on July 23, 2020, 06:48:52 PM

Well, thank you for all the replies guys...

Maybe I was wrong overly thinking that using bots could help me to become profitable as it works for more time than I usually do. Yeah, I have knowledge of trading but using trading bots maybe it have different results, that is why I want to find it which one is best.

There isn't really the best bot out there since you're technically still the one managing how it performs, but the more able the bot is to respond to your commands, the better the type of bot it is. Bots in a sense are still you, just automated, so it doesn't really make trading easier or profitable. Think of it like leaving your trading schemes to someone else that has the same brain and ideas but has less emotions.

Kelvinid

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Quote from: Savemore on July 23, 2020, 08:29:48 PM

That is not true, trading with ourselves is more profitable than using any bots. Why would you rely on AI if trading psychology is very important, for those who consistently making money through trading bots; are you even sure that you improved as a trader? Relying on trading bots will not give us growth that we need especially to adapt the market changes. Trading bots for me is just a waste of money, we should learn to trade with ourselves in order for us to not depend on trading bots.

Have you tried it already? I hope you will. Because we can't just draw any final word or conclusion if we never have tried it at first. Besides, it is not advisable to use trading bots if you don't have enough knowledge in trading.

Developers come into this kind of trading development for they know that it is something that gives more advantages to the system. We are not discussing here if this is bad or not but we are looking something to help out people who are in limited time to spend (just like me) as an alternative of conventional trading. Because if these bots will work well, why not we neglect to use it even it is expensive?

Trading bots is still new in trading system, yet people are still NO-HOW about this and that is why only a few of them are using it now. Maybe they can tell how good it is in the coming days.

Savemore

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That is not true, trading with ourselves is more profitable than using any bots. Why would you rely on AI if trading psychology is very important, for those who consistently making money through trading bots; are you even sure that you improved as a trader? Relying on trading bots will not give us growth that we need especially to adapt the market changes. Trading bots for me is just a waste of money, we should learn to trade with ourselves in order for us to not depend on trading bots.

jackg

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Quote from: Kelvinid on July 23, 2020, 06:48:52 PM

Quote from: jackg on July 23, 2020, 10:10:02 AM

Edit: cornix and a viable channel that accepts it can be quite expensive to start with depending on what expensive is to you - cost about 0.05-0.2 a year. The most expensive isn't always the best.

This is what it came into my mind also, trading bots will cost a lot and I am not sure also if they are effective. Though I can afford it...

I was more on the idea you'd have to receive a return that size which would probably take around 0.5 with a few dedicated agents.

I haven't looked at those bots also but theirs might be hosted by them (the rest won't be) so you MAY have server power to pay for unless you get an rpi.

Ryker1

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Quote from: Kelvinid on July 23, 2020, 06:23:06 AM

[snip]
But I would like to ask everyone who already experiences in using trading bots and how this becomes effective in trading and boost our profit gains than stayed in a conventional trading system?

Any recommendation...

Well, the suggested above was right. I heard a lot of few people here talking about this trading bot ^[Gunbot] and as far I know that is a good trading bot here. This trading is good to use in your trading activity because the bot will do the task if you are set it correctly and the algorithm of bot will work based on your setting. This is indeed good for traders especially when you are at work or if you sleep while there is potential coins that you need to monitor the buying/selling point. However, first, understand very well how to use a bot and it will lead you to massive gain of profit.

Kelvinid

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win lambo...

Well, thank you for all the replies guys...

Maybe I was wrong overly thinking that using bots could help me to become profitable as it works for more time than I usually do. Yeah, I have knowledge of trading but using trading bots maybe it have different results, that is why I want to find it which one is best.

Quote from: jackg on July 23, 2020, 10:10:02 AM

Edit: cornix and a viable channel that accepts it can be quite expensive to start with depending on what expensive is to you - cost about 0.05-0.2 a year. The most expensive isn't always the best.

This is what it came into my mind also, trading bots will cost a lot and I am not sure also if they are effective. Though I can afford it...

Quote from: mk4 on July 23, 2020, 10:50:07 AM

In the end, everyone trades differently though, so results will also obviously be different. Probably try it out instead, then decide if using bots is the right choice or not.

That is why I am looking for something worthy to try and so my money won't just be wasted. Because there are a number of trading bots available in the market today and I can't afford to try them all rather than to get one at least so I can make a try immediately.

Quote from: ReiMomo on July 23, 2020, 05:45:56 PM

ut that is a good question as well because we know that being a trader should always give your time facing on your computer. A trading bot is an answer to that question but it doesn't you let your trading bot works for you, of course, it needs you to command and the trading bot will execute to that command.

Do simple research of pros and cons, and it's up to you if you will use bot. Gunbot is gained a lot of reputation here I can suggest that for you.

I'm not sure if trading bots could help me either because of my limited time. But I keep searching about this and pretty soon to try once if I'm ready.
https://tradingstrategyguides.com/crypto-trading-bot/ Anyone familiar with them? aside from Gunbot (I'm hearing this one in the forum already).

Renampun

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I can say that using a trading bot is more profitable than doing conventional trading...
but it depends on the trading bot from which developer you are using. I heard that there is a perfect trading bot and the price is $ 20k, that trading bot is able to do more than 50 open positions automatically and will only choose profitable positions. I heard that even newbie traders can make a lot of profit if they use that trading bot.

tippytoes

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Quote from: ReiMomo on July 23, 2020, 05:45:56 PM

I will not give any suggestions about this because since you have a knowledge of trading I assume that you aren't a newbie on the crypto field, I guess you already know what is the pros and cons of using crypto trading bot.

But that is a good question as well because we know that being a trader should always give your time facing on your computer. A trading bot is an answer to that question but it doesn't you let your trading bot works for you, of course, it needs you to command and the trading bot will execute to that command.

Do simple research of pros and cons, and it's up to you if you will use bot. Gunbot is gained a lot of reputation here I can suggest that for you.

I definitely agree with you here. The OP himself can answer this question. I guess by now, he already experienced the pros and cons of using a trading bot vs manual trading. So it is on his prerogative whether using trading bot will be on his advantage. But if he is trading new alts, better do the trading personally.

ReiMomo

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I will not give any suggestions about this because since you have a knowledge of trading I assume that you aren't a newbie on the crypto field, I guess you already know what is the pros and cons of using crypto trading bot.

But that is a good question as well because we know that being a trader should always give your time facing on your computer. A trading bot is an answer to that question but it doesn't you let your trading bot works for you, of course, it needs you to command and the trading bot will execute to that command.

Do simple research of pros and cons, and it's up to you if you will use bot. Gunbot is gained a lot of reputation here I can suggest that for you.

bitterguy28

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Quote from: okala on July 23, 2020, 03:50:07 PM

Bot is good especially if you want to keep emotions away from your trading but it lose money more than a conventional ways of trading. I learned trading in the conventional way and since then I have not really lose money compare to when I was using bot.

It helps to lessen your day to monitor but there's a certain point that due to it's only relying from how you program the system there's chances that

you also losses opportunities, both from cutting losses or maximizing profits, bot serves as how you intended it to function, you have to be precise

with your target for you to make the bot works accordingly.

ryzaadit

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Just go back to the reality.

If someone offering a robot who can make you profit, then why not using the robot by themself. A bot just helping you to execute the trade while you are not on the screen or available, that's why we need bot to make some order execute not making any profit.

okala

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Bot is good especially if you want to keep emotions away from your trading but it lose money more than a conventional ways of trading. I learned trading in the conventional way and since then I have not really lose money compare to when I was using bot.

harizen

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Quote from: Kelvinid on July 23, 2020, 06:23:06 AM

Well, it seems interesting to try and I hope this could help and see a positive result to the outcomes of my future transfer.
But I would like to ask everyone who already experiences in using trading bots and how this becomes effective in trading and boost our profit gains than stayed in a conventional trading system?

Using trading bots to expect more profit should not be the reason why you want to consider using it. You want to use it because you are having difficulty managing your trading activity as you have lots of works on the table. By using trading bots, the goal is to perfectly execute your set of strategies at the preferred time or event you want.

The result and effectivity of using these trading bots vary per users. There might be users that is doing good using it but it doesn't mean everyone will have the same good result. The best thing to do is to risk some of your funds and give it a test on a given period. From there, you can get the picture if using it will be worth your money.

Quidat

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Quote from: mk4 on July 23, 2020, 10:50:07 AM

The trading bot will perform as good or as bad depending on how the trader is going to configure it. In the first place, trading bots should mostly just be used to decrease your trading work, not completely take over and run for long periods of time without your input.

In the end, everyone trades differently though, so results will also obviously be different. Probably try it out instead, then decide if using bots is the right choice or not.

You said it right and this had been always the wrong perception on most people that bots do give out guaranteed or sure profit for them without doing much of work without even realizing that they do really need
to set i up on their own and the bot would do the work.Its just for automation but people are just really getting the wrong point and belief even upto these days and later on they do find out that everything
doesnt work on what they do expect.They will surely learn up along the way that bots arent capable of when it comes to guaranteed profit without having the proper setting from the trader itself.

abel1337

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Quote from: slapper on July 23, 2020, 11:48:17 AM

It depends on many different aspects. Using bots is really effective if you know how to use it and find out a strong bot. There are many stupid bots which can cause you to lose a huge amount of money. Many people just want to obtain money without thinking about others's pockets. I suggest you should learn to build a bot by yourself. There are many sources in which you can learn and earn different knowledge. Find an edge of yourself and start writing your own trading system

Trading in traditional ways is not always bad. If you can control your emotions and understand your money management, you will definitely be rewarded. Moreover, you will become more confident, no longer susceptible to pain and loss. Just find a suitable way to benefits your desires

Many of that stupid bots are free Undecided

I think building a bot takes time and OP is finding bot to use because he has his stable job which I think occupies most of his time. OP can just use reputated bots.

This might help you
https://www.finder.com/ph/cryptocurrency-trading-bots

Quote from: mk4 on July 23, 2020, 10:50:07 AM

The trading bot will perform as good or as bad depending on how the trader is going to configure it. In the first place, trading bots should mostly just be used to decrease your trading work, not completely take over and run for long periods of time without your input.

In the end, everyone trades differently though, so results will also obviously be different. Probably try it out instead, then decide if using bots is the right choice or not.

That's right, Positive results from trading bot mostly came from the good deployment of configuration and maintaining it.

You can also use copy trading on other platforms if you want to reduce your time spending on trading.

slapper

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It depends on many different aspects. Using bots is really effective if you know how to use it and find out a strong bot. There are many stupid bots which can cause you to lose a huge amount of money. Many people just want to obtain money without thinking about others's pockets. I suggest you should learn to build a bot by yourself. There are many sources in which you can learn and earn different knowledge. Find an edge of yourself and start writing your own trading system

Trading in traditional ways is not always bad. If you can control your emotions and understand your money management, you will definitely be rewarded. Moreover, you will become more confident, no longer susceptible to pain and loss. Just find a suitable way to benefits your desires

ashmodeus

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just because u doesn't have more time to spending on trading its not mean u cant get profit. Basically They/bots work using a variety of indicators and signals, such as moving averages and indices,actually u also can see when the signal come , the factor is just emotional about fear and greed,while you confused about take the risk or not,bot just following the signal,yes bot just do with Trading Algorithms,of course bot will work well if u setting it well. For remind,on 2019 at my facebook group a user try using bot trading,the problem idk how he set his bot,with just 24 hours, 4 eth gone,instead of getting help from support,he just see his 24 hours trading history really idiotic,even though the bot do a right trading, i mean buy low sell high,because he just do on spot market,a maker and taker fee draining its balance. So i just realize probably he make a configuration wrong or he didn't realize about maker taker fee,bot just do what u set before start,and doesn't care certain fee if u miss calculated it.

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Quote from: Kelvinid on July 23, 2020, 06:23:06 AM

I have a stable job and because of my limited time to spend in trading, it gives me a reason to look other options to continue my trade and it looks like trading bots is something to try especially during the pandemic situation. I'm not sure many people are looking at this but probably they are also asking about it.

"The evolution of automated machines is already performing many tasks that are done by humans in the past. With advancements in robotics and automation, the impact of the changes spans from every aspect of life and businesses to the future of jobs. In recent years, these technologies have taken a major leap in the trading business, and in the wake of COVID-19, they have escalated than ever before. This is now expected that robots and machines could have a major impact on the trading business and could eliminate conventional human-to-human voice trading fast."

source: https://industrywired.com/will-the-rise-of-robots-alter-the-conventional-trading-in-the-post-pandemic-period/

Well, it seems interesting to try and I hope this could help and see a positive result to the outcomes of my future transfer.
But I would like to ask everyone who already experiences in using trading bots and how this becomes effective in trading and boost our profit gains than stayed in a conventional trading system?

Any recommendation...

In traditional markets bots are already making the majority of the trading decisions anyway so this is nothing new, but when it comes to the advantages that bots offer you must remember that a bot is just a set of instructions that the computer performs, while we give it the word bot it is not really different than any other piece of software in existence.

So a bot is only going to be as good as the person doing the programing, if you do not know how to trade an you are a losing trader then the bot will be a loser trader too, the advantages of the bot strive on the fact they can trade 24 hours each day without rest and not miss a single profitable trade, also they can trade and take decisions so fast that it will give better results than a human simply because they can get slightly better prices when they buy and sell.

Now if you do not know how to code your own bot then you could try one of the available options like Gunbot however the more bots with the same strategy are running the lesser the profits for those running the same bots.

mk4

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The trading bot will perform as good or as bad depending on how the trader is going to configure it. In the first place, trading bots should mostly just be used to decrease your trading work, not completely take over and run for long periods of time without your input.

In the end, everyone trades differently though, so results will also obviously be different. Probably try it out instead, then decide if using bots is the right choice or not.

jackg

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https://bit.ly/387FXHi lightning theory

I think there was a concensus that once enough people are using a bot it doesn't work as well anymore.
It might be a good idea to check someone actively updating (if they still are) like gunthars gunbot (not sure about any others)..

It might be practical to try to spend a few minutes doing your own TA. Most advanced people don't put in more than one trade for a few days and still get a decent return.

I don't know of the feasibility of using telegram for automated trading also, some channels I've subscribed to make decent returns and their trades are pushed through cornix's automated bot but I don't trust them with much and you have to do a bit of analysis to see how good the channel manager is to start with. And there's also copy trading thst seems to have become a thing elsewhere here but both of these are extremely risky if you grant access to leverage or don't limit trades to 1-5% of your portfolio.

Edit: cornix and a viable channel that accepts it can be quite expensive to start with depending on what expensive is to you - cost about 0.05-0.2 a year. The most expensive isn't always the best.

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