Well I actually went ahead and got C.A.T. for the 3 exchanges I was already trading on (BTCe, BitFinex and BitStamp).
And well, I have to say, its a nice tool. I would compare to like an electric screwdriver. Its not "mandatory" but it definitely makes life easier than usual an standard screwdriver. Sorry I like to make shitty comparisons. I had a good experience 12 hours ago (approx) when BTCUSD value raised to 190, I actually had to go to the DMV that morning, and when I got back, I was pleased to see I made over 10 transactions with each 0.5% pure benefits. Its not a lot, but its bitcoins I literally made without even being at home. Just waiting in line, meanwhile the bot was doing its thing.
Its not a money printer, it wont do any good if you dont program it well, and it will absolutely do nothing if the exchanges dont move. Its a bot. It automates stuff. Its not magic. But it is handy.
I recommend it to anyone who can afford one and would that that comfort (doing good trades for you while you wait in line at the DMV. or sleeping. or whatever)
Topic: newbie trader. bots: yay or nay? (Read 2174 times)
Actually you dont need a bot to make profit in trading, sometimes bots fail at making profit... you make the bot to buy low and sell high, but then at one point you buy low, and the chart goes even lower, so the bot will not be able to sell high... = Loss
imo , bots are really annoying putting a sellorder at lets say 150 satoshi , a bot puts one at 151 satoshi directly after.
so i cant really trade manually anymore honestly.
so i cant really trade manually anymore honestly.
Your assuming that all your trades will be placed at the local minima of the price trade series.
You do not have to compete with the bot, just let the market do its thing.
imo , bots are really annoying putting a sellorder at lets say 150 satoshi , a bot puts one at 151 satoshi directly after.
so i cant really trade manually anymore honestly.
so i cant really trade manually anymore honestly.
I have been back and forth in my own mind about the merits of trading virtual currencies.
Initially I was very skeptical because it seemed to be the only activity people all participated in. I then worried that Cryptocoins would have no value because of trading unless they are used for goods and services.
I now think any blockchain technology will need a market of speculators to drive developers to continue work on their unique solution.
So "Do bots harm the markets?"
No. The most aggressive bots are the market makers who do really provide liquidity as a service.
Sentiment on the fundamental value of Bitcoin seems to have driven the market for the last year. Up until the last month, the market has been resistant to good and bad news and just continues its correction from the all time highs.
The best investment you can make in Bitcoin is to learn about it so you can make speculative decisions should you want to.
Initially I was very skeptical because it seemed to be the only activity people all participated in. I then worried that Cryptocoins would have no value because of trading unless they are used for goods and services.
I now think any blockchain technology will need a market of speculators to drive developers to continue work on their unique solution.
So "Do bots harm the markets?"
No. The most aggressive bots are the market makers who do really provide liquidity as a service.
Sentiment on the fundamental value of Bitcoin seems to have driven the market for the last year. Up until the last month, the market has been resistant to good and bad news and just continues its correction from the all time highs.
The best investment you can make in Bitcoin is to learn about it so you can make speculative decisions should you want to.
Hello.
Id like the input from experienced traders.
For about two months, no more than that, Ive been trading (+mining) on btce, bitstamp and bitfinex.
I realize this is a slow business. But I think at this point, I should consider the next step.
So far my strategy has been quite safe / defensive.
I sell 0.01 at price X, wait for the BTC value to be at X-3usd, buy again. Sell 0.1+the interest I made again at X, resell at X-3.
This works when the BTC value is stable of course. When there is a crash or a rise I wait for it to stabilize and start again my strategy.
Now that I am able to afford C.A.T., which seems to be the most appreciated/value trading bot around here (plus I had EXCELLENT communication with the developer), I was wondering if acquiring a bot should be wise.
My main question/concern is:
Do bots harm the markets?
As I began saying, I recently started in a long time business. I realized that. So every move I make I should consider the impact it would have on a long term. It is obvious I want easier/bigger benefits (who doesnt) but at the same time I wouldnt want to hurt the market I am working on, because that would have direct consequences to me, and everybody else.
So far the only anti bot commentaries Ive read are "pissed off" human day traders that complaints that bot work faster than they do. But so far I havent read any theory of how could trading bots hurt the market overall.
Thank you in advance. This is a serious question from a newbie, yet, motivated, trader, so please take this seriously.
Id like the input from experienced traders.
For about two months, no more than that, Ive been trading (+mining) on btce, bitstamp and bitfinex.
I realize this is a slow business. But I think at this point, I should consider the next step.
So far my strategy has been quite safe / defensive.
I sell 0.01 at price X, wait for the BTC value to be at X-3usd, buy again. Sell 0.1+the interest I made again at X, resell at X-3.
This works when the BTC value is stable of course. When there is a crash or a rise I wait for it to stabilize and start again my strategy.
Now that I am able to afford C.A.T., which seems to be the most appreciated/value trading bot around here (plus I had EXCELLENT communication with the developer), I was wondering if acquiring a bot should be wise.
My main question/concern is:
Do bots harm the markets?
As I began saying, I recently started in a long time business. I realized that. So every move I make I should consider the impact it would have on a long term. It is obvious I want easier/bigger benefits (who doesnt) but at the same time I wouldnt want to hurt the market I am working on, because that would have direct consequences to me, and everybody else.
So far the only anti bot commentaries Ive read are "pissed off" human day traders that complaints that bot work faster than they do. But so far I havent read any theory of how could trading bots hurt the market overall.
Thank you in advance. This is a serious question from a newbie, yet, motivated, trader, so please take this seriously.
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