Topic: Experience with Trading Bots - page 2. (Read 816 times)

When you are confident about making profits in bullish run then what is the need of going for bot to trade with? I mean in a predictable market condition, it is always better to go for manual trading rather than believing into bots. Moreover I'm not ready to believe that bot based trading is profitable in bullish trend. Because, for a preset program whether it will be bullish or bearish, might not have any big differences. So, this must be definitely a misconception about bot trading.

This is an interesting take and I agree with it, people concentrate too much on the profits a bot can give during a bull run without really understanding that almost anything and anyone can be in profits during such a massive movement.

The real test for a bot is how do they do when the market is ranging or when it is in a bear market, if the bot can at least breakeven then you could be in the presence of a good trading bot, but most of the time we see those bots give up all the profits they got during the bull market and many times even more than that making it useless as a tool to try to profit from the markets.

i want to know if kucoin trading bot is always accurate? Does the Kucoin trading bot have a low risk of error? I am curious about the Kucoin bot, traders always talk about it and I want to be able to know more about the Kucoin bot from experienced professionals

That's all right. If you are offered a trading bot, the first thing you should do is look at its statistics. In this case, you should look at the statistics not for the current period of the bullish run, but for the time while the market was in a bearish trend. Because now, while the market is growing, it is very easy to trade. But this trend will change sooner or later, and it is with such changes that bots tend to lose most of what they could earn during a positive trend.

I don't use any trading bots, but all I know about this you need money to buy trading bot if I am not mistaken.
And according to what I had read here in the forum in accordance with the feedback of some people who tried to used it,
it is not accurate and there is risk also, especially if your setting is not right something like that.

I thought the advantage of using bots for trading is that you don't have to be online to execute a trade or even follow the chart,anyway I agree every have their own preferences, but personally I dislike bot trading because it doesn't grow my trading knowledge or strategies, I prefer trading on my own so I can try out different strategies, unlike trading with bot, which the bots will use the pre-installed trading strategies and that's risky because the market changes old strategies may not work anymore.

- Trading bots and gambling bots are two relatively well-known forms of crypto, but their extinctions are almost confirmed by brags of value and benefits, their bragging leads them to huge purges, lots of groups created with the aim of destroying such bots, so even if it's a paid or free bot trading system, our participation will very easily become on the radar of mysterious groups. Bots trading programs are very weak, maybe we should have the basic processing and reference more the market with our skills, instead of considering a trading bot.

You tried premium bots? I guess risks may not differ even with premium bots. Against unexpected market volatility, if bots stay calm then we may get chances to escape but most bots go struggling against sudden market conditions and generates inefficient signals which lead to losing trades. But with manual trading, we could easily handle such unexpected market volatility conditions.

I am also in search of good bots which may not get me any big profits but it should not get me any losses; I mean I will use a bot which may generate signal once in a week or month but that should lead to only profits .

There are lots of free trading bots available but with great risks. Free trading bots will only waste your money. I have never come into contact with trading bots because I trade manually using technical and fundamental analysis, because manuals will be more secure compared to having to use bots even though they are premium trading bots.

I am sure that each and every subject we are discussing here with new topic, might have already been discussed here with at least 10+ pages. But, unfortunately no newbie are trying to make use of them but they simply prefer to have their own topic to hear opinion from this community. There could be multiple reasons for that but what I could guess on this is, they might prefer to enlighten themselves with latest news and events as old bots cannot be trusted and reviews on new bots might not available with old topics.

If you want to see discussions related to that, you can spend time reading at these threads:

Trading bot vs. you -> who's better?
BOT TRADING
Trading BOT suggestion
Are you using a trading bot?

After that, you can somehow think about what to do next.

Yes, I agree with your opinion mate, doing long-term trading by using bots may not be very effective for anyone.
So I enjoy trading manually without the bot's help.

It can hone my skills in daily trading. However, for a trader studying manual techniques, it is very important if you
want to seriously nature crypto trading. We can't rely forever on trade bots.

In my opinion you should not be looking at trading bots to make up for the fact that you do not have the time to trade, instead you should be looking for long term trading or investment strategies.

Bots may seem attractive because it sells the idea of a piece of code that can trade for you all the markets you want all the time, but unless you know how to produce profits on your own then bots are useless, even if a bot comes with a preloaded strategy that beats the markets the more users use the same bot with the same strategy the less profits you will get and then you will be back at square one, so you either learn how to trade the short term yourself and then make your own bot or you learn how to trade the markets for the long term, any other option seems like a waste of time and money.

Based on the trading experience that I have, I can conclude that any trading robots don't work in the long run over a long period of time. A robot can perform well in a bull market, but when the market phase changes to sideways or bearish, then the bot will simply start to drain and you will not have time to rebuild it. In my opinion, a bot can be an assistant, but you cannot completely delegate trade to it.

For my crypto currency trading i don’t use any Trading Bot, and i don’t know that why i don’t like trading Bot. Also i am not a professional Crypto trader and i invest my fund for Long term. But i see that many Trader always use Trading Bot for better result.             

Fyi mate, ever since before mostly ppl who use to trade with bots  always end up nothing.. Although there are some legit but the fact is some of them are not reliable to use and can't even make a good outcome.. So probably not a good recommendation..?

For me in my opinion i think much better to trade on your own, but of course for a beginner i highly recommend to learn some stuff about trading so that you know what to do especially if you faced a problem while trading..  And you know what is the good thing of doing trading on your own?  Its because your money is really safe..

Trading requires enough time, this is a need for us to analyze the market carefully. But in your situation, that seems not the ideal place for you. And I tell frankly, it only gives you losses if you will continue trading.

Trading bots serve to be the alternative way but can't be sure it will help you more as it still needs your time to make it work.
There are a lot of bots you can try (just have a try), but be cautious enough to deal with people offering such tools as we can't deny that many were made to scam people.

Once a very senior trader told me that don't trade using bots until you have created that bot yourself or you know how to create one. You see all the big companies who trade in the stock markets, whom we call the institutional investors use bots to make trades, there is obviously no doubt that at least 50-60% of crypto trading volumes come from trading bots each day. These big institutional investors have a large team of software engineers who design, develop and audit their bot. You will often see huge audits of these bots being undertaken before they are declared fit for trading.

But the problem with bots is that they don't have brains. You on your own have to put a strategy inside the bot and the bot will perform in the way you have told it. Or you will buy the strategy from the person you have brought the bot. In both cases, the problem is you are using third-party software on your valuable account. Exchanges do provide withdrawal restrictions for these bots but they can trade in any way they want.

A Layman like you and me cannot audit a third-party bot in different market conditions on different parameters to ensure they don't hurt your capital also any external help would eventually mean leaking the very main source code of your bot which can be easily manipulated. The external help is pretty costly too. So in Nutshell, I would recommend you to stay away from all kinds of trading bots. They are not for retail traders. But yes if you own have the skillset to create your own bot definitely go and create one and use it. You might find some great value for your bots if it ends up working and profitable.

It also depends on how good of a trader you are and how frequently you can tweak things. As you said it is a good way to make money in short term, and even that is only if you are a good trader. Which means you have to know what you are doing, you should be making profit trading manually without the need for a bot, you should know how to read the market and act accordingly, and you should be able to use the bot that way so that you could make a profit.

All of these depend on many stuff you are capable of and that is why it is not ideal. Obviously if you can do both of those things, that means you can use it and make a profit, but that means you can make profit anyway, only difference is you can do it short term per day while bot can do it every single minute, that is the only difference. Think about the bot as you yourself trading all the time and you would understand.

It is a mistake to rely on or trust trading bots, although I have very little experience with this method of monetization but in the past, this tool was really not very effective when as you said, parameters are prone to mistakes, good settings can only be effective in a short time. It is simply not that this tool does not work well, it is simply that the investors in this market are too wise in comparison to the parameters, sometimes the mistakes are due to manipulation of the whales and with the automatic setup, we do not have personal analysis then fall into a failure situation