Topic: Experience of using a cryptorobot - page 3. (Read 725 times)

as good as it is, cryptobots run on human orders, so this can indeed be said to be effective, as long as the humans who use them know when cryptobots can work or not. that way it is better to learn manual trading first, it will be better, to be able to know the emotions in trading, and this is what cryptobots don't have, so sometimes many traders believe in it so much that they lose capital, and consider it a risk

this is my recipe for success with trading bot:

1. code it yourself or be able to access to the source code
2. make it a grid bot and spread the grid +/- 100% range from the current price
--- NO LEVERAGE
--- NO STOP LOSS
--- optional: increment the order size: the farer from current price the higher the order
3. take profit at minimum, don't wait for +10% gain. get the minimum (of course consider the fees).. on average it's around 0.4% gain
4. only limit orders + post only
5. don't interfere with the bot
6. enjoy

It may happen that you stay days or even weeks with unrealized loss, but ultimately the price will recover and you will close the trade at a win.
When the trade is done repeat, in loop, forever.

like this i was able to grow my btc bag by 176.56 % in exactly 365 days, closing ONLY profitable trades. Not a single loss was taken (and i have proofs)
Of course a good trader can do this gain in a few dozen trades maybe, but he will have to deal with bad trades and losses.
Of course (2) there might be better solutions or strategy compared to this one, but well... this worked for me and I'm not changing it.
Of course (3) if you're trading a shitcoin that goes to 0 or pumps like 1000% in few minutes, you might lose all. if you're trading btc you're pretty safe.

sorry english is not my first language, i hope this was clear..
if not, i can answer all of your questions.. maybe..

also: don't sell the bot unless they're offering you a reasonable amount

Crypto robots are best used by traders who don't need stress up in the space. But not all Crypto robots gives profits, they differs because some of them are extremely expensive while some are gotten at cheaper rate. The one bought high and the ones bought low, can't perform the same actions. Mostly, traders go for cheap one all because they want to be greedy for their own selfish interest, when they would start losing, they start complaining and stop using the crypto robots, and they give negatively feedback on both robots they bought and the ones that they couldn't afford, they just extend their complaints to people were aiming to buy crypto robots. Cryptorobots are very fast and good when placing a trade, they look for the solid coin to trade, and eventually traders make massive profits from robots, they are their own signals.

Usually it would really be for arbitrage but we know that it would really vary on how its been programmed or what are the things be in commanded so it does really vary.
It could act faster than human which is usual but making out immediate back off on your decisions or alteration then you are the ones who could really still able to do
so specially if emotion is been tagged on.This is something these bots do lack but in overall automation then nothing cant beat it but of course it do really
follow on whats been commanded.

Well, sometimes this topic makes me think of two things, if a cryptorobot is much more beneficial for trading in general, even though I think it is much more profitable to do in the short term because of the ability to react, which must be very fast, at least 100 times faster than the reaction of a human being, or of having a cryptorobot that is for arbitration only? now a lot is being implemented related to AI and I think this is what is moving many people, because if something like this is implemented, the person would have gains, I think this is what they are looking for, but not all cryptobots they are programmed for it.

Its not really in talk about non trustworthy or reliable but instead it isnt something a tool that you could rely on or simply could work for you and make easy or quick bucks because thats not how reality works.

Its always been having that kind of wrong belief or mindset about bots that they could make out easy money or profits without realizing that it would really vary out on the strategy or settings that you
had set on.

So this do talks about on your own trading knowledge which you could able to set up those bots for the automation of your trades which came out from your own knowledge.
There might be some pre-set already but if you dont have the idea on what it is then you would find yourself in a hard or confused situation.

Those subscription based ones are the ones that trust themselves though. Meaning if you are paying only monthly then if you make a profit you could continue because you are making a profit and can afford to use it, but if you do not make a profit then you can stop at any moment and you should be fine. The ones that sell upfront for a huge cost are the ones that do not trust themselves because they are not making any profit for you most of the time, so they want to get as high as possible from you before you realize that the trading bot is a shitty one and you shouldn't have bought it.

And you bring another interesting point, many bots are sold under a subscription which means that you need to pay each month for the bot to keep running and when it comes to trading those additional costs can quickly add up and reduce your profits in a significant way, after all you have to pay the fees of the exchange, withdrawal fees, taxes, books or whatever you use to refine your trading strategy and now you have to add bot subscription costs to all of this, which decrease your chances of becoming profitable in the market.

But it doesn't a make huge profit and it's advice to make to trade manually because bot is not reliable and trustworthy in terms of trading, i noticed that bot application is used to scam people in different form but people don't know, the subscription fee of bot can be use to trade manually and make nice profit..so believe on manual trading than bot trading application

I tell you I cannot say much about trading bots in other platforms other than the one on KUCOIN, but let me tell you I have lost so much money it is unbelievable. Maybe it was just my luck, but I am never trying that again.

Bots are good for automation but this isnt something that you could really rely considering that there are market conditions which does need immediate action on which personal engagement or decision

would really be needed or relevant rather than entrusting your bot on doing its job but cant deny that there are things which needed to be stopped whether you do see other opportunity or there
are unexpected events that is happening which it would really be that needed for you to completely change pace or plans which it is really that sensible
that you would really be using manual actions.

Bots can be profitable, the issue is that as your experience tells you a bot is not as good at cutting losses as a trader can be and this is critical, people often think about making money in the markets but the most important skill you can have is the ability to cut your losses short and minimize them, and many bots fail at this critical step and regardless of how well they do during a bull market they do terribly during a bear market, and a trader relying exclusively on them will find out the hard way about this reality.

indeed if you want to become a real trader, we must be able to learn to gain knowledge, and that requires a process so it takes patience and tenacity. while bots will not make us good at trading and until whenever we can only depend on it. bots don't have feelings so they work according to the orders that have been formulated, so one day if conditions don't match, then big losses are unavoidable

If you really want to be a trader I believe you should create time to study the market, why will I be making money from a place then I won't always create time for it that's bad. If you want to be trading then you should always have time when you will be doing your analysis. Seriously am always discouraging people using cryptobots because I believe it those not really work, if bots are reliable then most of us will have been very rich and we won't disturb ourselves doing analysis.

Some people are using trading bots because they have no time or not enough time to study the market. Hence, they rely on bots. But it is true, using a bot may not give you the profits that you want in the end. They are just doing their job according to what they are task to do. Sometimes, it depends on how you program them. I have no experience with bots because for me, it is better to learn the market on your own.

Most people just depend completely on bot, they don't really want to learn how to trade on their own because they believe the bot will do everything for them, they don't believe bots can fail and they can lose their money. When trading with bots and you are making money, whenever the bot will disappoint, you will endup losing all your profits you have been making. The best thing is just for you toearn how to trade yourself and don't use any bots.

I subscribe to this that you made a nice point. The idea of using bots to pick profit is rare and op has made it look like that easy to make 25% and this may attract others to consider reaching out to Op. I think OP should show proof of his trade history using the bot. A developer will want to keep his bots success to himself not to disclose it because no rich man want to let you have his source of wealth just that easily. If really that OP has made such profit then I wish him good luck but he may not find it easy next try. Advise is to go gradually and don't put all your capital in with the trust of a bot.

I do not think that people relying on trading bots is a bad thing, it all depends on how you use it and how you could make a profit based on it. I personally do not use one anymore but I remember the period when I used one and it wasn't that bad, it was bad during the bear period, when it was going down the trading bot usually lost more than I would, and that was the reason why I stopped using it.

However, during the bull period when everyone was making money, the trading bot I used made me more money than I could have personally. This is why I believe that it is not really that difficult to use it and could be beneficial for some newbies for sure.

If you already have a proven bot that has brought you 25% profit, you do not need to ask for advice from others, you can make an independent decision. In my experience, I noticed that the bot brings profit in a bull market and, accordingly, it is not effective in a bear market.

This is called overfitting, basically it is the process in which a trader designs their trading strategy to perform the best according to the historical data available, this means that the profits you saw early on of 15x in a single year were especially overfitted by the trader in order to maximize a period of incredible volatility in the market, however the problem is that the markets never move exactly the same, so doing something like this will prevent you from obtaining profits in the future.