How effective are bitcoin trading bots? - page 2.

eternalgloom

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Quote from: el kaka22 on May 24, 2017, 03:03:06 PM

Trading bots might get you good profits in calm market conditions whereas in high volatility it may go wrong. It means you cannot leave off your trading responsibilities to a bot. You must take care of when to use bot and not.

It all depends on how you set it up though... I've seen some scripts that were made to operate in high volatility, though they were advertised as being riskier.
I'm sure that you could also add a script that could adapt to certain specific conditions.

I've personally made around 2 to 3 percent per day profit with a trade bot in the cloud which was sold as a service.

dynamitevictor

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Quote from: miyaka26 on November 16, 2017, 12:36:24 PM

Quote from: dynamitevictor on November 16, 2017, 09:34:22 AM

Quote from: debby duchess on November 16, 2017, 09:18:48 AM

Bitcoin trading bots are automated systems that share information, answer queries and even perform actions, it watches prices and exchanges rates, handles trading and are very effective especially when you are trading with www.xchangerate.io , it tells you when to enter a trade and also gives you hint on when to exit a trade especially when you are making use of the suitability index parameter. When using the suitability index, the new, mid and the old must be progressively increasing i.e the old must be greater than the mid while the mid must be greater than the new. Also note that the lower the new the more profit it maximizes. Have tried it and it works significantly for me. Join the Telegram group to learn more about the xchangerate robot. https://t.me/XchangeRateSupport .

I have tried it too. It works amazingly. I got on their telegram group and was guided on how to go about the robot. I did and result has been phenomenal. Best robot I have seen in my years of trading cryptocurrency.

Then how much profit did you earn from a trading robot? what coins did you trade and what is the setup did you do to make a promising income if there's any, i heard a lot of stories about trading bot some of them produced bad results making their capital loss because they depended their work for a bot that is free, some of them got their coins stolen because the bot is actually a virus made by an hacker so better to paid off some legitimate bots out there. and of course some of them produced a decent income.

https://youtu.be/2BXNLphB470 check out this video. If you are in doubt disable your withdrawal on your API settings so that your capital remains in the exchange. Feel free to put a very small amount on the exchange to try out this one. I am sure you will come back here to tell us what you see. XchangeRate.io

Koadharber

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Quote from: Sled on May 18, 2017, 01:44:47 AM

Bitcoin trading bots are only effective if you know how to set it up and you know how to manage it but if you are just a newbie that finding some way to earn good profits then trading bots will not be for you and it is best to do trading by your own so you can get experience and also lessons for the possible mistake and you can earn more than a trading bot.

True, proper set-up and good monitoring would really possible give you some results but talking on earning automatically without doing nothing is an impossible stuff. Bots are just tools not the ones who are making money for you which this thing is commonly being misunderstand specially by newbies believing that they can able to make $$$$$ of money when they decide to purchase or use such bots in the market which is actually wrong and shouldnt really to think off this way.

namjar

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They are a shit mate, dont waste your time and your money in trying to buy one of them ,because you are going to lose a lot of time, and of course, your energy.
Becuase it demands a lot of time in order to configurate some of those bots that you can buy on this forum.
i dont know anyone who made profit from those expensive bots who are over $700 each one, it is not worth it man, just do your own trading and i am sure that you are going to be able to make much more profit than using those bots.

Shishir99

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Quote from: anurag54321 on May 17, 2017, 06:59:39 AM

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

I have tried one that was not satisfactory for me.
Most of the trading boot system are scam.
And sometimes people loose their trading account due to these trading bot.
I recommend you to not to use it.
You can trade by own by following some technical indicators in tradingview or coinigy.

kuronokishi10

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According to me bitcoin trading bots are not a good investment if you are solo and not an organization.
Trust is a major factor and there are many possibilities of scam so people would be afraid of using it unless the owner is very reputed.

miyaka26

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Quote from: dynamitevictor on November 16, 2017, 09:34:22 AM

Quote from: debby duchess on November 16, 2017, 09:18:48 AM

Bitcoin trading bots are automated systems that share information, answer queries and even perform actions, it watches prices and exchanges rates, handles trading and are very effective especially when you are trading with www.xchangerate.io , it tells you when to enter a trade and also gives you hint on when to exit a trade especially when you are making use of the suitability index parameter. When using the suitability index, the new, mid and the old must be progressively increasing i.e the old must be greater than the mid while the mid must be greater than the new. Also note that the lower the new the more profit it maximizes. Have tried it and it works significantly for me. Join the Telegram group to learn more about the xchangerate robot. https://t.me/XchangeRateSupport .

I have tried it too. It works amazingly. I got on their telegram group and was guided on how to go about the robot. I did and result has been phenomenal. Best robot I have seen in my years of trading cryptocurrency.

Then how much profit did you earn from a trading robot? what coins did you trade and what is the setup did you do to make a promising income if there's any, i heard a lot of stories about trading bot some of them produced bad results making their capital loss because they depended their work for a bot that is free, some of them got their coins stolen because the bot is actually a virus made by an hacker so better to paid off some legitimate bots out there. and of course some of them produced a decent income.

dynamitevictor

newbie

Activity: 4

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Quote from: debby duchess on November 16, 2017, 09:18:48 AM

Bitcoin trading bots are automated systems that share information, answer queries and even perform actions, it watches prices and exchanges rates, handles trading and are very effective especially when you are trading with www.xchangerate.io , it tells you when to enter a trade and also gives you hint on when to exit a trade especially when you are making use of the suitability index parameter. When using the suitability index, the new, mid and the old must be progressively increasing i.e the old must be greater than the mid while the mid must be greater than the new. Also note that the lower the new the more profit it maximizes. Have tried it and it works significantly for me. Join the Telegram group to learn more about the xchangerate robot. https://t.me/XchangeRateSupport .

I have tried it too. It works amazingly. I got on their telegram group and was guided on how to go about the robot. I did and result has been phenomenal. Best robot I have seen in my years of trading cryptocurrency.

debby duchess

newbie

Activity: 5

Merit: 0

Bitcoin trading bots are automated systems that share information, answer queries and even perform actions, it watches prices and exchanges rates, handles trading and are very effective especially when you are trading with www.xchangerate.io , it tells you when to enter a trade and also gives you hint on when to exit a trade especially when you are making use of the suitability index parameter. When using the suitability index, the new, mid and the old must be progressively increasing i.e the old must be greater than the mid while the mid must be greater than the new. Also note that the lower the new the more profit it maximizes. Have tried it and it works significantly for me. Join the Telegram group to learn more about the xchangerate robot. https://t.me/XchangeRateSupport .

Termin4tor

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Quote from: anurag54321 on May 17, 2017, 06:59:39 AM

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

This could be true, but none knows for sure at the moment. Trading bots are very effective for people who would like to make money while they sleep, as they say. Though its not guaranteed to make profits it definitely provides a peace of mind and flexibility for the traders. I don't personally use any trading bots but I have asked some of the users who use it (GunBot) and they said that if you have a large initial investment for example 1-3 btc you can make huge profits with these bots but at the same time lower amounts would work perfectly as well.

Alice Nuttal

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Of course, trading bots can be effective, but they can't completely replace manual trades.
It is good to use a bot as an additional tool for getting the most of trading opportunities.

The_Dark_Knight

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Quote from: Monnt on May 24, 2017, 02:04:54 AM

Quote from: The_Dark_Knight on May 18, 2017, 09:42:37 PM

Quote from: carap on May 18, 2017, 02:02:02 AM

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalksearch.org/topic/trading-robots-wrong-assumptions-made-by-beginners-1722689

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

Well why do they use bots then ?
There are plenty of things that come across the traders while dealing with the bots. If someone is not satisfied with working in the trading bots it is good to be an open ended. But before going to go to the Bots one should first understand the reason of why the bots are here.

Because they don’t know better? Because they want to save some time? People use bot for a lot of reasons but the first two are the most common, people want to obtain profits without waiting all day for the right opportunity to trade an also it seems easier than to try to trade ourselves.

el kaka22

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Quote from: SCCFX on May 18, 2017, 03:24:42 AM

bitcoin trading use bot only automatic trading youre trade not guaranteed if you trade profit
and setting bot from programer, so sometime is wrong open position trade

Bots are here to facilitate the users and I guess they work very well. It may happen that sometime it may go wrong but there is no other opinion in it that they really are helpful. You just need to communicate your way of doing things with the programmers and that makes your work quite easier.

Quote from: anurag54321 on May 17, 2017, 06:59:39 AM

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

Trading bots might get you good profits in calm market conditions whereas in high volatility it may go wrong. It means you cannot leave off your trading responsibilities to a bot. You must take care of when to use bot and not.

Joel_Jantsen

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Quote from: anurag54321 on May 17, 2017, 06:59:39 AM

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

- > Trading bots don't do any magic.They automate the tasks of sitting online on a computer 24/7 and selling your coins with marginal profits.
- > Also depends on the coins you choose and the prices you make your bots sell at while configuring the bot.
- > You can get the same results faster if you dedicate enough time of your day playing on the exchanges.

Quote from: dihari on May 18, 2017, 03:34:03 AM

Check this thread, and you'll feel regret for ignorance something good for your trading profit. Maybe it is best trading bot ever created.
https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214

It's a misconception.You think it is the best trading bot because you have seen or read news about people making profits through it.Have you made any profits yourself ?

Monnt

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Quote from: The_Dark_Knight on May 18, 2017, 09:42:37 PM

Quote from: carap on May 18, 2017, 02:02:02 AM

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalksearch.org/topic/trading-robots-wrong-assumptions-made-by-beginners-1722689

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

Well why do they use bots then ?
There are plenty of things that come across the traders while dealing with the bots. If someone is not satisfied with working in the trading bots it is good to be an open ended. But before going to go to the Bots one should first understand the reason of why the bots are here.

gabmen

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Quote from: anurag54321 on May 17, 2017, 06:59:39 AM

How effective are bitcoin trading bots? I read a review on google where a person claimed that he turned 300$ into 50000$ in one year using bitcoin trading bot (i can't remember the name of the bot).

I don't think this is even possible. bots pretty much do the same thing as when you manually make a roll. I don't believe that review you've read and that's possibly a paid advertiser to boost the bot's sales

raven7886

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Quote from: Sled on May 19, 2017, 10:13:38 PM

Quote from: machinek20 on May 19, 2017, 06:52:56 PM

Quite effective if you know how to used it, a bot can help us to do trading when we are sleeping, it is very good tools if you have a good skills and know when is the good time to trade, a bot is only a tool to help us to trade all of the results is depend on the user

There is no doubt that trading bots are helpful and effective but if trading bots are not easy to use and setup plus if the trader is not yet fully experienced in trading bots or even trading then it will be a huge problem for him because he is very vulnerable to losses that can make him quit.

I do not think setting up a trading bots to make trades is not that much complex one compared to what we actually doing technical analysis are manual trading. Because the bot providers will be supplying some predefined parameters for different scenarios. We can simply follow them to make those bot get ready for actual trading.

But I'm not ready to recommend about the effectiveness of bitcoin based trading bots. Because I have used them but concluded as waste of money.

ASHLIUSZ

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Bitcoin trading are truly effective, but the profitability is possible to certain extent which will not cross certain profit margin. As programmed, most of the time trading is automated on reaching particular price and stopped on drop below certain value. This will not think beyond that when unexpected price pumping happens.

The_Dark_Knight

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Quote from: Sled on May 19, 2017, 06:59:59 AM

Quote from: The_Dark_Knight on May 18, 2017, 09:42:37 PM

Quote from: carap on May 18, 2017, 02:02:02 AM

Trading robots can make the life of a trader much easier, allowing automating many routine operations, increasing the speed of work, reducing error rates and fatigue. However, development of an effective trading strategy is the task of the trader and not the robot. It’s like a car that allows driving faster and more comfortable, but it is up for the driver to decide how to get to the destination. And most important, it is the driver who is responsible for all actions.

Source - https://bitcointalksearch.org/topic/trading-robots-wrong-assumptions-made-by-beginners-1722689

This is not completely true for most bots the strategy is already hard coded, and the trader can only do some adjustment to the strategy by reading the manual, so if the bot does not work as it should there is not much the trader can do.

That is why trading with bots is just a problem especially if you don't have any idea in trading or managing a bot because it is like a stressful work because you need to fix some codes and adjust some settings to make trading good but if you do manual trading then it will be easier for you, so i think bitcoin trading bots are not effective.

Correct, this is why we must know how to trade before you try to automate the process if you think about it it makes sense, if you want to automate driving then you need to know how to drive a car if you don’t then how are you going to automate the process effectively.

Sled

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Quote from: machinek20 on May 19, 2017, 06:52:56 PM

Quite effective if you know how to used it, a bot can help us to do trading when we are sleeping, it is very good tools if you have a good skills and know when is the good time to trade, a bot is only a tool to help us to trade all of the results is depend on the user

There is no doubt that trading bots are helpful and effective but if trading bots are not easy to use and setup plus if the trader is not yet fully experienced in trading bots or even trading then it will be a huge problem for him because he is very vulnerable to losses that can make him quit.

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