Experience of using a cryptorobot | Bitcointalksearch.org

Issa56

hero member

Activity: 1358

Merit: 907

Quote from: globalpain on June 12, 2022, 04:35:31 AM

Before using bots, it's better to do some research first so you don't regret it later

I believe if you can do research on your own then why do you have to make use of crypto bot, most people that do use bot those not really know about technical analysis, I believe if you can do your analysis yourself then you should trade yourself and don't depend on any bit because they will definitely disappoint you at the end.

Hamphser

sr. member

Activity: 2436

Merit: 324

Quote from: molsewid on June 12, 2022, 12:16:40 PM

Quote from: globalpain on June 12, 2022, 04:35:31 AM

For me using bots is not a good choice and as much as possible to avoid it,
trading manually is much better compared to bots because we know what to do,
Before using bots, it's better to do some research first so you don't regret it later

I actually used bot last year, and it is really bad and I regret using that. My friend suggested to use that bot in futures, at first it is okay but at the end it always makes me hit the stop loss. The bot is not well functional, it always counter the chart and the bot always chooses cross, that's why my fund loses in just a days. That's the time I say to myself that I don't need a bot, and I am too lazy to understand the market so now, I am still learning how to read it.

Its not well functional but rather volatility is the main reason or culprit on why those SL's are been triggered or hit and that not something unusual on this market.This is why its really important that you are

knowledgeable on making out some sudden change in setting for your bot for such automation.Dont took or give the blame into those tools considering that they are still useful if you do know on what
you are doing.Dont expect or anticipate that its a money making machine because thats not how it works.Be realistic so that you wont really be ending up on frustration.

molsewid

hero member

Activity: 2170

Merit: 530

Quote from: globalpain on June 12, 2022, 04:35:31 AM

For me using bots is not a good choice and as much as possible to avoid it,
trading manually is much better compared to bots because we know what to do,
Before using bots, it's better to do some research first so you don't regret it later

I actually used bot last year, and it is really bad and I regret using that. My friend suggested to use that bot in futures, at first it is okay but at the end it always makes me hit the stop loss. The bot is not well functional, it always counter the chart and the bot always chooses cross, that's why my fund loses in just a days. That's the time I say to myself that I don't need a bot, and I am too lazy to understand the market so now, I am still learning how to read it.

globalpain

full member

Activity: 1260

Merit: 103

The OGz Club

Quote from: Issa56 on June 10, 2022, 05:07:51 PM

Quote from: rektbot on May 22, 2022, 05:47:10 AM

as I stated before, the only working bot is the one you can code yourself.
don't subscribe or pay for bots you can't access the source code.
If you know how to trade and if you know how to code, it's pretty easy to be profitable.
if you wanna check some results of my bot, here they are: rekt.it/video.html

You know what, even if you can access the source code o a bit I won't still advise anybody to use not to trade, bot will definitely fail you one day and when it will fail, you might not really expect it. I know lot's of people that have tried different bot to trade which they always end up losing their money, so the best thing you should do it just to learn how to trade urself, learn to do analysis and stop depending on any bot.

For me using bots is not a good choice and as much as possible to avoid it,
trading manually is much better compared to bots because we know what to do,
Before using bots, it's better to do some research first so you don't regret it later

rektbot

newbie

Activity: 7

Merit: 0

Quote from: Issa56 on June 10, 2022, 05:07:51 PM

Quote from: rektbot on May 22, 2022, 05:47:10 AM

as I stated before, the only working bot is the one you can code yourself.
don't subscribe or pay for bots you can't access the source code.
If you know how to trade and if you know how to code, it's pretty easy to be profitable.
if you wanna check some results of my bot, here they are: rekt.it/video.html

You know what, even if you can access the source code o a bit I won't still advise anybody to use not to trade, bot will definitely fail you one day and when it will fail, you might not really expect it. I know lot's of people that have tried different bot to trade which they always end up losing their money, so the best thing you should do it just to learn how to trade urself, learn to do analysis and stop depending on any bot.

i would agree with you.. but..
take for example a grid bot, and imagine that grid is at 100% below the price, the only way you will lose is if that crypto goes to zero.
that's math, not scifi..

Issa56

hero member

Activity: 1358

Merit: 907

Quote from: rektbot on May 22, 2022, 05:47:10 AM

as I stated before, the only working bot is the one you can code yourself.
don't subscribe or pay for bots you can't access the source code.
If you know how to trade and if you know how to code, it's pretty easy to be profitable.
if you wanna check some results of my bot, here they are: rekt.it/video.html

You know what, even if you can access the source code o a bit I won't still advise anybody to use not to trade, bot will definitely fail you one day and when it will fail, you might not really expect it. I know lot's of people that have tried different bot to trade which they always end up losing their money, so the best thing you should do it just to learn how to trade urself, learn to do analysis and stop depending on any bot.

leea-1334

hero member

Activity: 2240

Merit: 953

Temporary forum vacation

Quote from: fullhdpixel on May 31, 2022, 05:36:14 PM

Quote from: leea-1334 on May 29, 2022, 08:05:29 AM

But this is why I say most people are lazy. They do NOT want to spend time researching and refining strategies and then set their bot up to do things on their behalf.

A common mistake and one that I made too when I was new in crypto trading. I remember I purchased some cheap bot and during those times Poloniex was a known exchange and I have no idea what the bot was doing but it generated profits and then it lost everything slowly. I just had to enter the amount of BTC I want the bot to trade for me. Now looking back at those days, I feel dumb because unless I am keeping a track of the market, it's hard to make money from trading whether it's bots or manually.

Bots can only help you if you have a plan and require some kind of assistance automating a process. If you think you can just deposit money in the night and the bot will earn you millions by the time you wake up in the morning, you are mistaken.

By the way, are you guys trading more on CEX or DEX? I personally prefer trading on DEX these days after almost all the exchanges are getting strict with KYC and privacy is almost extinct.

Oh I remember Poloniex a lot and a bot might have been useful there even for the loan facility,,, you could loan out BTC and other crypto for very short durations and earn interest. I remember you could earn even 10% for 1 day loans to other traders and instead of sitting there and looking for loans just use the bot and repeatedly loan out BTC for 1 hour or 1 day all around.

That makes perfect sense but to trade itself, if your strategy is bad,,, the bot just automates a bad strategy Grin

fullhdpixel

hero member

Activity: 2786

Merit: 606

Quote from: leea-1334 on May 29, 2022, 08:05:29 AM

But this is why I say most people are lazy. They do NOT want to spend time researching and refining strategies and then set their bot up to do things on their behalf.

A common mistake and one that I made too when I was new in crypto trading. I remember I purchased some cheap bot and during those times Poloniex was a known exchange and I have no idea what the bot was doing but it generated profits and then it lost everything slowly. I just had to enter the amount of BTC I want the bot to trade for me. Now looking back at those days, I feel dumb because unless I am keeping a track of the market, it's hard to make money from trading whether it's bots or manually.

Bots can only help you if you have a plan and require some kind of assistance automating a process. If you think you can just deposit money in the night and the bot will earn you millions by the time you wake up in the morning, you are mistaken.

By the way, are you guys trading more on CEX or DEX? I personally prefer trading on DEX these days after almost all the exchanges are getting strict with KYC and privacy is almost extinct.

GeorgeJohn

hero member

Activity: 1400

Merit: 655

Bitcoin is achievement

Quote from: Fatunad on May 30, 2022, 04:40:39 PM

Bot are for automation and this should really be put up in mind because majority of people specially noobs do believe that this is some money making machine which they could make out profits
on long term duration without doing anything or something or less effort but once you do experience the reality then you would really be finding out yourself on believing on things
which doesnt really happen after all. Bots are for automating your trades which simply means that you would need still to edit or command the bot on what are the things that they should do
and if you dont have any knowledge about it then you are just simply throwing off your money.

It seems that you really comprehend what i emphasised exactly, many people mindset is that made mentioned of bot application you have arrived for profit launching and making through trading of cryptocurrency, but it's something that is officially and understandable that th e impact bot application implies in trading is the perfect and it grant opportunity for generating quantum's of profit daily and weekly, i tried to disregard that totally.

jaberwock

legendary

Activity: 2520

Merit: 1073

Quote from: sklopan on May 27, 2022, 07:11:59 AM

It seems to me that the use of bots has a negative effect on the results of the trader's work and on the experience of the trader in general.

Not really if you are using bots to automate the process and use your brain to make the strategies. I mean as long as you are using bots to automate a certain process that can be repeated humanly, I think it's fine. The problem starts when people buy bots with pre-determined strategies implemented in the bots and then they just hope those outdated strategies work.

There are some crypto-bots that spot any arbitrage trading opportunity and then you can capitalize on it quickly with the help of the bot. It's like buying BTC @$39k on KuCoin and selling for $40k immediately on Binance. These are things where you can use bots but quite honestly, there aren't many opportunities like this in the current market. Years back these things were more common and easily available.

Fatunad

sr. member

Activity: 2198

Merit: 347

Quote from: GeorgeJohn on May 30, 2022, 02:03:04 AM

Quote from: sklopan on May 27, 2022, 07:11:59 AM

It seems to me that the use of bots has a negative effect on the results of the trader's work and on the experience of the trader in general.

I have commented in this thread before, and i know quite well that i state out some possible advantages ( positive impact of bot application trading) and the disadvantages ( negative impact of bot application trading) it's very obvious that with bot you will not lost your funds that way, but the disadvantages is that with bot application they will not be sustainable profit or Mega profit compare to someone who's trading manually.

Bot are for automation and this should really be put up in mind because majority of people specially noobs do believe that this is some money making machine which they could make out profits
on long term duration without doing anything or something or less effort but once you do experience the reality then you would really be finding out yourself on believing on things
which doesnt really happen after all. Bots are for automating your trades which simply means that you would need still to edit or command the bot on what are the things that they should do
and if you dont have any knowledge about it then you are just simply throwing off your money.

GeorgeJohn

hero member

Activity: 1400

Merit: 655

Bitcoin is achievement

Quote from: sklopan on May 27, 2022, 07:11:59 AM

It seems to me that the use of bots has a negative effect on the results of the trader's work and on the experience of the trader in general.

I have commented in this thread before, and i know quite well that i state out some possible advantages ( positive impact of bot application trading) and the disadvantages ( negative impact of bot application trading) it's very obvious that with bot you will not lost your funds that way, but the disadvantages is that with bot application they will not be sustainable profit or Mega profit compare to someone who's trading manually.

leea-1334

hero member

Activity: 2240

Merit: 953

Temporary forum vacation

Quote from: ?? on ??

Quote from: leea-1334 on May 27, 2022, 02:09:26 AM

People ARE lazy. Watching prices all day is being lazy

Why watch price all day when you use algo trading? It's like watching the price every day when you are a long-term investor. People in this case are not lazy, but stupid and do not understand what the bot is for. They try to hammer nails with a microscope. Cheesy

But that is my whole point

And we are in agreement here that people should not watch prices all day and use algos or bots,,, and let it automate for them.

But this is why I say most people are lazy. They do NOT want to spend time researching and refining strategies and then set their bot up to do things on their behalf.

They lazily get a bot that they think makes them automatic profit and sit and watch all day Roll Eyes

They are not stupid. They have brains. They probably got uni degrees. They are just lazy Tongue

sklopan

jr. member

Activity: 98

Merit: 2

It seems to me that the use of bots has a negative effect on the results of the trader's work and on the experience of the trader in general.

leea-1334

hero member

Activity: 2240

Merit: 953

Temporary forum vacation

Quote from: ?? on ??

Quote from: leea-1334 on May 25, 2022, 03:04:07 AM

Actually on the contrary many people want to sit at the computer all day to watch the price, hence the wrong use of trading tools like bots. They shit there and sit there running their bot and wonder why they are not making profits.
Then they take over in impatience and tweak all day and worry,,, taking away the exact whole point of the bot, which is automation!

I don’t know in which circle of people you communicate that they want to sit at the computer all day, but in my circle of people and in those communities where I am a member, people try to get away from this, since sitting at the monitor for a long time is tiring and it is psychological exhausting. They want to use bots not to sit at the monitor all day, but to think less and do something manually less, as it is tiring. and many people, by nature, are also too lazy.

They are certainly not my circle, they are the people you and me see every single day on this forum,,, when I was on Twitter or Slack or even Telegram, people were talking about price all day. Move up $1000? 10 people talking about it. Move down $500? Panic. Chart sharing price sharing, it is all nonstop.

So what, these guys are not all day watching price?

Real trading should be research charting etc, putting in trades, then doing other things like actual job.

People ARE lazy. Watching prices all day is being lazy

jostorres

hero member

Activity: 2464

Merit: 585

Quote from: ?? on ??

Quote from: leea-1334 on May 24, 2022, 07:04:57 AM

But I guess people think of bots as 'tricks' to earn.

Quite right. A bot is just an automation of your knowledge and skills, few people want to sit at a computer all day and watch the price, in this case algo trading helps. And those who think that there are some universal settings that will make the bot work with a single button, then they strongly doubt it, I put such traders in the same category that uses copy trading, telegram signals and others. These are naive people who think that they can outsmart the market using these methods of earning and can get rich on it, while not delving into anything. This will never happen.

This is the difference between an expert trader and a novice one. A novice one will use the default given strategies and hope that we would get something in return, and that would be a bad idea, I do not suggest doing that because it will not be that much of a problem or help for you at all.

However, if we are talking about something that is profitable in the sense that we could make a profit but we want to work as little as possible then the best thing we could do right now would be to learn how to trade manually first and if we are great at that then we could become great at how to use a crypto trading bot as well and use the same system on it.

BITCOIN4X

legendary

Activity: 1946

Merit: 1150

Quote from: ?? on ??

I don’t know in which circle of people you communicate that they want to sit at the computer all day, but in my circle of people and in those communities where I am a member, people try to get away from this, since sitting at the monitor for a long time is tiring and it is psychological exhausting. They want to use bots not to sit at the monitor all day, but to think less and do something manually less, as it is tiring. and many people, by nature, are also too lazy.

People who use bots but are always sitting in front of a monitor are those who may not trust the bot or its setup enough. They keep monitoring the price movement even though they are already using bot, that's funny and I think at the same time they are losing the functionality of the bots themselves. Bot are tools we can customize to our liking, but so far I haven't used them. If someone really doesn't trust bot and their setup, then why would they use bot, bot should be able to make them have more time away from the monitor.

leea-1334

hero member

Activity: 2240

Merit: 953

Temporary forum vacation

Quote from: ?? on ??

Quote from: leea-1334 on May 24, 2022, 07:04:57 AM

But I guess people think of bots as 'tricks' to earn.

Quite right. A bot is just an automation of your knowledge and skills, few people want to sit at a computer all day and watch the price, in this case algo trading helps. And those who think that there are some universal settings that will make the bot work with a single button, then they strongly doubt it, I put such traders in the same category that uses copy trading, telegram signals and others. These are naive people who think that they can outsmart the market using these methods of earning and can get rich on it, while not delving into anything. This will never happen.

Actually on the contrary many people want to sit at the computer all day to watch the price, hence the wrong use of trading tools like bots. They shit there and sit there running their bot and wonder why they are not making profits.

Then they take over in impatience and tweak all day and worry,,, taking away the exact whole point of the bot, which is automation!

nur rochid

full member

Activity: 1050

Merit: 100

Quote from: GeorgeJohn on May 23, 2022, 06:44:30 PM

Quote from: GigaBit on May 23, 2022, 10:57:25 AM

It is really admirable to get good returns by you using trading bots but trading at all based on trading bots should not be done at all. Here you can make a temporary profit but you can also face a big loss because you know that robot is conducted by order which confirmed manually.

Let us share vital experience and be very honest here. It's very clear and obvious and very understandable in same vain that using bot application for trading will not give you a potential or sufficient profit that normal trading will gives you, i just on my own notice that the only advantages of bot trading is that it will not permit you to adventure into lost subsequently and it will not make you nake profit as i said previously, saying with assurance that with bot application you make a qualities or huge profit is under statement. Except you are not portraying your point base on what you encounter or said because you have heard about bot trading...use it before you can portray positive things and negative things about bot application

trading bots costs will offer a tantalizing profit calculation, just as we get passive income, so many of those who are not familiar with trading are clearly tempted to participate, while the risk actually threatens them, trading bots have existed for many years, and until now There are no success stories of trading bots as a member yet. maybe at the beginning profit can be achieved, but gradually it is no longer relevant, and finally excuses for updating bots so that they are charged again

lixer

hero member

Activity: 2492

Merit: 586

Quote from: leea-1334 on May 24, 2022, 07:04:57 AM

Quote from: ?? on ??

I talked for some time with algo traders who actively trade through robots and came to the conclusion that the most efficient bot is the one that is written with your own hand for a specific strategy based on statistics or a robot written by some programmer to order, for your strategy. All robots that are purchasable off-the-shelf solutions will not bring long-term success, especially robots that are trying to sell online for a small amount.

Which actually is the whole point of bots that many people do not realize.

Bot is not to magically create strategies for you. That job is your job, to find the strategy that works for your level of time, bankroll and risk,,, bot is simply there to automate those strategies and let you sleep and do other things instead of staring at the screen the whole day

But I guess people think of bots as 'tricks' to earn.

That's true for some. They miss understand the true use case of these bots. This is why many people create bots and sells them in the market. They then put some description that this bot can work wonders only to fool the newbie and those who looks for easy money. I am not sure but maybe there are communities or forum where people gather and talk about crypto trading bots.

If we are lucky maybe we can find scripts there that we can just download and load it on our own bots, same with what I am doing with gambling bots but they are just a strategy and won't still guarantee that someone can earn unlimited profits without experiencing to lose anything.

Topic: Experience of using a cryptorobot (Read 716 times)