Topic: How reliable are both trading (Read 271 times)

It's nice to know that they are making the life of the people more easier. I won't say 'only' 55 to 60 percent because I think those are decent already. It is different from 50 over 50 winning chance. But even 50/50 itself is still fair than below 50. Though at the end of the day, if we are unlucky, we still can lose no matter what.

Have you tried them out already? But maybe some can perform more manually and then there might still be some that have a weak skill, so they might do better with the help of these trading bots. Indeed that it is also important to choose a big and reputable exchanges because if not, any good bots are still going to be useless if at the end we still can't withdraw our money.

Bots in trading are only to make it more automatic, not to increase the win rate or reduce the risk because everything must be set according to the trader's wishes and the bot will execute even if the trader is not online. If there is a bot that offers a certain percentage of profit, it is definitely a scam and the only solution is never to trust and use it because that is not how bots are used in trading.

Haha.. Honestly!

If you ask about this I don't consider this an interesting topic from any angle. I just find it worth discussing and natural and this is not the first time we are talking about this topic even there was a time I was fed up with those topics but now I think this is the time to discuss it in more detail as people are little much confused with technology and its strategic use.

I would love to learn and I would love to experience with all of you.

I don't know got liquidated from a position that was already so much in profit but if instead I had the bot it wouldn't like be all-in all the time but buying some dips and selling some hows while still maintaining a leverage position if you set it up on LONG. Not everyone is 10 years experience pro trader + the bot is like performing well for now in what its doing ofc market can crash and is volatile and unpredictable and whatever but every trader thinks anyways he can foresee future

Hi!

You’ve raised some interesting questions about trading bots. It’s true that in recent years, more and more platforms have started offering trading bots, sometimes even for free. However, as you mentioned, their effectiveness largely depends on the strategy and settings.

The main issue is that bots alone don’t solve the complexities of trading. If someone doesn’t understand how the market works or lacks a reliable strategy, the bot is more likely to generate losses than profits. Developing a good strategy, on the other hand, requires significant knowledge and experience.

And this is something that you should really be watching out, not unless if you do make use of bots that are available internally on most platforms. Downloading randomly on different sources or external ones on which you are really that in risks on downloading a virus or malware on which this one will causes up for you to lose money due to some wallet infecting on which this is really that very common and if you are really that believing that trading bots could make you sure money then better think twice. You will definitely be needing up that kind of realization on which you will be needing to at least know on what are the realistic things that we do really need up to consider. Better to make yourself having this kind of mindset rather than on being that delusional because using up trading bots are really just that indeed for the sake of automation of trading on which this is that useful if you do really know on what you are really that dealing into.

Reliable? You cant say but this will come in handy specially if you are someone who isnt that always in front of your PC or someone whose really that active in transit then you will definitely be having that kind of need when it comes to automation. You will be finding out its relevance on the moment that  you will be having this kind of situation on which automation of trades will really be that important. It all matters if you do really know on what you are doing and making up those set ups for trading bots.

No matter how smart algorithm looks in crypto space, it can't know exactly how the human think straight, even human doesn't know what his fellow man is gong to do next, who knew Elected Donald Trump was going to be elected as the winner of the last election, this action alone made Bitcoin to click $100k, such things can't be known by algorithm atleast for now, this is why it's difficult for bot to be perfect in trading, the real ones can only play around wig the basic trading nature.

I'm not sure if there is a way where paper trading or demo trading can be incorporated with bot, so you can actually test it for a year, especially in the bull run whether it's profitable or not, that alone will tell you if it's worth it or not. This is not a recommendation but I have seen kucoin do a lot of marketing with these trading bots alot, maybe you should try out, don't forget it's not a recommendation.

A bot will only automate you trades, provided it is a legit one.

A scam bot will steal your money and you will not be able to recover money that has been sent on crypto blockchains.

Now consider the bot being legit, if you think that using a bot gives you an edge over another trader who is not using a bot, then you are mistaken. A bot will run the algorithm that you set it in. It will not always be 100% accurate, in fact it can never be.

Understand these things properly before you buy a bot.

so many exchanges already provide trading bot, with its own analysis on the price action, and most of them only have win rate of 55% - 60%, which means, it's still kinda 50:50 on whether you make money or not, the end result maybe will yield 30% APR at best . these bot aren't magic though, most of them just doing price action analysis, so the win rate does make sense knowing that TA or price action analysis in general just increase the probability of you making profit but doesn't guarantee anything at all, market deviates all the time after all.

so in a nutshell, they aren't that good, but you can always try them out on some big reputable exchanges.

In my opinion, Bot trading is not a bad option for those who trade in the consolidating market, for the bear market and Bull market bots are not that efficient it is because of my first experience with Bots back in few months ago.


Now if you think that AI and Bots hybrid is gonna change the game for you this is not gonna work if we consider a tremendous increase in the bot based trading we'll see that the data of our trading bots under the radar of Whales is gonna be used for manipulation where whales are gonna hit us hard so Trade by yourself haha, You can take assistance in analysis but trading triggers should be in your control.

I also wish there would be a trading bot which will pick the token by itself and out of all the trading strategy in the world using AI, pick one and read charts by itself using all the previous data with it's high frequency power computations and make a good support and resistance for me like if I want to trade in short term then give me LTF trades otherwise it depends. But unfortunately, there is no such trading bot that I am aware of.

There are few which ask the the risk and reward ratio and which basket of tokens to trade in like, this basket will comprise of few tokens only like BTC, ETH, LTC etc. This trading is not good that's why I don't go after trading via bots but I have seen many analysists use AI trading bots they have huge capital and a slight price increase can make them few hundred dollars so they take quick trades and book profit even loss to make a good profit at the end of the day.

It is simply as you have said it, they use one of the listed above strategy most of which I have seen use the bollinga band, MACD and the rest. This are all written and fixed scripts that once the market changes direction they simply can follow up the changes. They use limited Technical analysis and do not use fundamental analysis nor use sentimental. So I don’t get where OP sees this bot trading as profitable because it is not for most of its users

You can’t know the type of strategy bots used until you study the bots very well; that is, even if you want to use bots to trade, you need to have knowledge of trading too, because a bot can’t be on the positive side of the markets all the time. Also, a bot can make you lazy as well; in fact, trading using bots is not advisable; it will not help the trader in the long run. Seriously, I won’t advise anybody to use a bot to trade; rather, learn and trade on your own; it will be better. 


You are right. It is only newbie traders who believe in bots because they find it very easy in their journey since it analyses and does everything for them in a very easy way. They don’t care to learn how to trade by themselves; moreover, you are right. I have never seen any trader who used a bot for a long time or even a short time and was successful. Before all the traders I see do it with the knowledge they have. 

rip you got me

We do have bots, we do have copy and follow trading on which users or traders will really be able to make use on and this isnt really that a bad feature either and somewhat being useful. The wrong impressions only on here is that on the moment that these newbie people will be that having those kind of thinking that this is really that making them some profits or money printer for them without realizing that strategies and methods should be that applied. You can see these things to be useful when you do really know on how to make use of it but if you do have those kind of newbie impressions then it will be something that you dont really be that appreciating about on what are these things because you dont know on what it is all about. On the time that you do already have that knowledge and skills or awareness about bots and copy trades then you'll be laughing into those past beliefs that you do have.

Reliability of trading bots isnt something that should be thinking by someone because its a tool that it is really that good for automation and not something that gives out guaranteed profits or not. If you wont be that careful into those kind of beleifs then it will be resulting into those loses because of misuse due to misbelief. Sooner or later you will be having that kind of realization that these arent the things that you will be able to make use of bots. You will be finding its usefulness at the time that you do really know its usage and on what it is all about.

The aim is to make you become more lazy and yeah you seem to be defeated already.

Of course, bot will reduce your workload but you aware they are being built by human and malfunction at times. Handling over your trade to bot to carries out means you are giving your financial decisions to a second person to decide for you while you be the one to bear the risk. Does that sound cool to you?

Trading deals with psychology, you have to prove you are man enough to handle it. You can not make use of that tittle "trader" if you use bot to trade. You are not just a trader by executing the order, analysis make you become one and you can not runaway from it and still be called a trader.

I believe you are talking about two things now.

1. A bot that is trading for you because you set parameters
2. An AI deciding for you on what to trade and execute them for you

That's what I have gotten with your post. I believe the AI agents now, with the trend, are getting better and better, and it continues to, and I believe it's another market that has blown up and will continue to. I think it's going to be continuously growing, and a lot more AI agents are coming up, and I see potential in it.

If you would rather setup yourself the trading parameters, get a bot like Gunbot. If not, find an AI agent that would trade for you.

You have answered your own question. Because in trading bots all parameters are determined by the creator of the bot itself, such as strategy, buy, sell, and various other things, and that makes trading can be executed automatically as long as the bot is operating. However, because the ones trading are bots and not humans, it means that users really hand over their trading to bots, whether it will be a loss or profit, users only rely on the bot - while the market itself is dynamic and can change at any time, errors from bots can be fatal and result in severe losses, and because of this more traders do not trust bots in their trading.

You know in the real matter of OP, for me that trading bot is not profitable, because if that is really profitable then the amount of testified that many have got a big profit there. Think about that, right?

The only one who believes in the trading bot is the novices that are lazy to learn the trading and rely on the bots of their earnings, something that is the wrong way of their approach.