Experience of using a cryptorobot - page 4.

teosanru

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Quote from: Silberman on April 25, 2022, 02:24:54 PM

Quote from: teosanru on April 22, 2022, 02:06:54 PM

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

I do not think it is a bug, but rather the bots are coded that way, lets take for example the martingale system that is so popular among some gamblers, the martingale system can be attractive for some as it seems foolproof as you get your money back most of the time, but the more you play the higher the chances you eventually lose too many times and lose all your capital, does this sounds familiar? Because that is the way many bots trade, they use a system with a high accuracy and a money management strategy that gets more aggressive the more you lose, until you eventually lose too many trades in a row and then you lose everything as well.

Nice example of the martingale system. But I doubt one can code it, bots generally work on mathematics so if you have given it code to react in a particular way in particular condition it always will, so technically not can never be obeying that system, unless obviously the market itself behaves in such a way, but I think this thing can be solved by regularly updating code in your bot based on the changing dynamics of the market. But by the way we are here also not considering the probability of these bots actually being scam in the first place.

death69

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With 25% profit a month, you would probably earn exactly 14.55 times your initial balance after 12 consecutive months, and 211.75 times after 2 years. Do you really believe such a bot can have the ability like that? Trust me, there are really patterns and algorithms we can rely on but in fact, those algos will soon be busted by the Market itself. I do not know why.

For example, years before (2018-2019), I was testing a really awesome Forex trading algorithm that my friends introduced to me. I used a bot and run it with 10 years history log. And surprisingly, the bot still made a profit (about 50% according to the latest year of the year I test, including compound). But what is more surprising, is that the older the year, the more profitable. Some even x15. What I observed myself is that the market adjusts itself to create more "noise" (maybe because more and more people know the algos), which in the future will eventually prevent the algo to make a profit, unless we have to make an adjustment to the algo

So, I believe that unless you are able to trade manually and are fully in control of the bot (and know some sort of creating your own bot with an awesome algorithm), do not give your money to any best-looking-trading-bot-ever.

Cheers Grin

Issa56

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Quote from: zulfi125 on April 26, 2022, 07:58:57 PM

I think you're using the good bot for trading that's why you make a 25% profit on your investment, I suggest you should withdraw your profit because I have no good experience with the crypto bot, I was used the KUCOIN exchange trading bot and I have lost me all investment, there was no big investment but most of the bot not profitable so you should safe your profit if you made 25% for the crypto bot.

I think is time people stop depending on bots and they should start trading their selfs, your trading bit is giving you 25% profits and you are really happy, but hope you know bots are programed which they can never be 100% accurate which means their will be a day which they will definitely fail and after the bots fail all your money is gone already. So i believe I high time we all learn how to trade ourselves and stop depending on bots.

zulfi125

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I think you're using the good bot for trading that's why you make a 25% profit on your investment, I suggest you should withdraw your profit because I have no good experience with the crypto bot, I was used the KUCOIN exchange trading bot and I have lost me all investment, there was no big investment but most of the bot not profitable so you should safe your profit if you made 25% for the crypto bot.

awik p

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Pepemo.vip

Quote from: Fatunad on April 25, 2022, 06:15:07 PM

Quote from: aditasetia123 on April 22, 2022, 12:56:49 PM

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

Nothing beats out if you do really make use of these robot but at the same time you should really know on how to deal up with trading and of course you should be aware and does have the skill
because using up robots without having no knowledge then it wont really be that much effective.Its up to you whether you would really be making use of it for passive type of trading
career but dont expect nor anticipate that it would make money for you on guaranteed manner because thats not how things or reality works.

Indeed, people imagine that people will be comfortable using bots, so we don't do anything and then get passive income which is a tantalizing amount. I think the first thought for those who will follow it is like that. but in reality it is not as sweet as we imagine because one day we will experience severe losses, because bots can only work according to orders, while the market is dynamic. therefore if we can master manual trading, then we will understand when the bot can work

Fatunad

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Activity: 2198

Merit: 347

Quote from: aditasetia123 on April 22, 2022, 12:56:49 PM

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

Nothing beats out if you do really make use of these robot but at the same time you should really know on how to deal up with trading and of course you should be aware and does have the skill
because using up robots without having no knowledge then it wont really be that much effective.Its up to you whether you would really be making use of it for passive type of trading
career but dont expect nor anticipate that it would make money for you on guaranteed manner because thats not how things or reality works.

Silberman

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Activity: 2450

Merit: 1322

Quote from: teosanru on April 22, 2022, 02:06:54 PM

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

I do not think it is a bug, but rather the bots are coded that way, lets take for example the martingale system that is so popular among some gamblers, the martingale system can be attractive for some as it seems foolproof as you get your money back most of the time, but the more you play the higher the chances you eventually lose too many times and lose all your capital, does this sounds familiar? Because that is the way many bots trade, they use a system with a high accuracy and a money management strategy that gets more aggressive the more you lose, until you eventually lose too many trades in a row and then you lose everything as well.

teosanru

hero member

Activity: 2100

Merit: 618

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

What I have seen from my experience is trading bots will always eventually run you into losses, especially the ones which are readymade available in the market, you will see them going well for a long time, and then suddenly you will see all your earnings getting wiped out in just one or two trades, this could be due to some bug in the code because these trading companies don't really put so much effort in getting the code audited from end to end. I have seen big companies making tons of money from cryptobots but they make money because they generally have their own trading bots which they get tailor-made from in-house coders only.

aditasetia123

member

Activity: 464

Merit: 10

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

dont be hurry to invest more money ,better test this robot trading for longer time so we could review is it could survive in bullish or bearish trend also. maybe around 6 months enough for testing periode , if the result still consistent we could add our balance. but if trading result still unstable maybe current amount enough as long as we accept this risk.

AicecreaME

sr. member

Activity: 2324

Merit: 454

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

If you're really using bot and earning 25% of profits in a month already, lucky you. You didn't even drop the name so I don't really believe on what you've said, also the account is just a newbie. I have friends who used bots but it didn't end up well, so my take on that is using cryptocurrency bots are not really recommended if you're just a newbie trader.

Reading and watching tutorials are much better, in my opinion.

milewilda

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Quote from: Silberman on April 21, 2022, 03:02:43 PM

Quote from: JooBra on April 20, 2022, 04:25:20 PM

Quote from: ?? on ??

To be honest, I don't find the use of bots useful. It seems to me that there are more important and necessary things for work. For example, experience. For a trader, this is much more important. When I started working with a broker from Amarkets, I paid a lot of attention to working on a demo account.

Bots can work fine and can earn money but to do that you need to be trader and know what are you doing. Having some skills before using a bot is a must. I used a bot for testing half a year ago and it works but you need to know the limits and to have bigger amount of money to make it work.

This is something that quite a significant number of people do not really think about, it would seem as if a bot is the perfect way for newbies to make money from the markets as the work is done by the bot and not by themselves, but if you do not know how to trade then how is it possible for you to know that the success the bot is having is something that can be sustained long term? It is at that time when you need your knowledge and experience as a trader to find the answer, and if you do not have it then you will let your bot to trade blindly for you, which is not really a good idea if you ask me.

We know that robot could neither be that effective or not and due to various conditions and market situation and we know that this doesnt really give out any guarantees or assurance that it could work for longer runs thats why its really necessary that you should learn trading via manually on where it isnt really gives you the knowledge but also it do really enhance your skills which is needed and also bots are editable or could really be changed and if you do have knowledge then you could set up commands according to your likes and thats the advantage if you are aware on what you are doing.

Silberman

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Quote from: JooBra on April 20, 2022, 04:25:20 PM

Quote from: ?? on ??

To be honest, I don't find the use of bots useful. It seems to me that there are more important and necessary things for work. For example, experience. For a trader, this is much more important. When I started working with a broker from Amarkets, I paid a lot of attention to working on a demo account.

Bots can work fine and can earn money but to do that you need to be trader and know what are you doing. Having some skills before using a bot is a must. I used a bot for testing half a year ago and it works but you need to know the limits and to have bigger amount of money to make it work.

This is something that quite a significant number of people do not really think about, it would seem as if a bot is the perfect way for newbies to make money from the markets as the work is done by the bot and not by themselves, but if you do not know how to trade then how is it possible for you to know that the success the bot is having is something that can be sustained long term? It is at that time when you need your knowledge and experience as a trader to find the answer, and if you do not have it then you will let your bot to trade blindly for you, which is not really a good idea if you ask me.

hugeblack

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Buy/Sell crypto at BestChange

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

This may be a mistake that will lead you to losses, making profits does not mean that you need to invest more money, but rather that you try to maintain these profits.
Therefore, try to increase your skill to ensure that you get 25% per month, which is more than excellent and you will become rich in a short time if you maintain it.

Trading bots are an application of ideas and therefore they do not generate money, but rather your ideas who do that and bots turn them into reality and therefore you must make sure that these bots do the following:

- Place orders correctly.
- You carry out orders in a timely manner.
- There is enough liquidity in the platform to not make mistakes.
- The bot is fast enough to avoid price fluctuations.

JooBra

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Quote from: ?? on ??

To be honest, I don't find the use of bots useful. It seems to me that there are more important and necessary things for work. For example, experience. For a trader, this is much more important. When I started working with a broker from Amarkets, I paid a lot of attention to working on a demo account.

Bots can work fine and can earn money but to do that you need to be trader and know what are you doing. Having some skills before using a bot is a must. I used a bot for testing half a year ago and it works but you need to know the limits and to have bigger amount of money to make it work.

Odusko

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Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: Sauv84 on April 17, 2022, 12:21:29 PM

Hi all

Can you advise whether it is advisable to use a trading bot to trade cryptocurrency?
Such bots are sensitive to volatility, which often happens in the cryptocurrency world.
And how will the bot behave in a falling market?
I used one well-known bot for a month and it made 25% of my balance in a month.
And now I want to invest a lot more money in it.

Thanks

Can you be specific on the kind of bot you used that made you 25% trading profits within a month, that being said thank goodness you know the volatility rate of the cryptocurrency market so at that how the hot will behave depend totally on your configurations and if you think the hot will not execute automatic trading when market crash it better to set a stop lose features manually to support the bot.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

I have to say if you used a bot, and it made you some profit, then use the profits to trade and not the initial capital. Let's assume that you traded with 1000 dollars, and made 250 profit in a month, that is great, now take out that 250 dollars and keep working with the same 1000 dollars, then if you make some more profit then take that profit out after a month again.

Eventually, if it makes profit all the time, you will have pure profits of 1000, and you will be holding your initial 1000 in your hand as well. This way you can just keep going with your botting with the money it profited and you will not be risking any of your initial money at all.

Issa56

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Seriously I won't advise you to be using a both, the best thing is to learn how to trade manually and you will make good profit and also your mind will be at rest, you might be making money now but robot will not be parfect always and time might come when you will endup losing all your money, so the best thing you should do now is to secure your capital first and continue using the remaining money there and don't add more money.

calya

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Quote from: Xampeuu on April 18, 2022, 09:59:33 AM

as far as I've seen trading bots in cryptocurrencies, it didn't pay off in the end. many people who offer a lucrative income, and they dare to give a percentage of profit within a certain period of time. whether it works, I think it's just a promise and gives us continuous hope, and of course we will be the losers. trading without knowledge, I think like gambling, you can win by relying on luck, but whether luck will always be present, let's open our understanding

it have possibility ponzi or money game. the reallity didnt suit with expectation , trading using robot could not survive for long term due its based on alogorithm which is created owner, meanwhil market moved based on lastest situation which is could not programmed due its dynamic .i 've seen many investors harmed by trading robot, so far i know none of them success now except their leaderboard.

Sauv84

newbie

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I used the Cryptohopper bot.I had a strategy for a rising market "Buy the dip"
At the time I was trading with a balance of 0.5 bitcoin.At the moment I have a lot more and would like to increase my capital
But risking a bigger balance is a different thing, my friends

Alisha-k

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Merit: 23

If it's giving you a sure ROI then you can possibly risk an amount you can afford to lose. This bots also make errors in trading. The bots works on an if, else and else if routine. And what if none of the conditions are met it typically means the bot will use a nearest condition to place trade and this might result in hazardous trades. Making the risk minimal is all I can advise at the moment

Topic: Experience of using a cryptorobot - page 4. (Read 714 times)