Topic: Profitability of Trading Bots (Read 799 times)

Bots do work and does depend on how they've been set up by the user itself.Theres no such bot that do work without having user intervention.

Profitability will surely vary on how traders do consider on which kind of trading would they engage.I agree on the fact that scaling is way more better
when using up bots.

Set up some tp and sl on small margins and i have tried this one and i can say that its profitable but most of the time, high volatility will mess you up.

In general, you are right. However, one assumption needs to be added, if we are talking about trading with bots, then the most effective ones will make profit on scalping,
that is, until the surgical accuracy of predicting where the price will go at a particular short-term moment in time, making money, we take into account its fluctuations in both sides.
In this case, the bots should, with proper configuration and human control, perform everything correctly following a certain analysis, then there is every chance of a more or less stable profit from such bots.

But I'm sure that if such bots exist, and they most likely exist, no one will sell such a bot in the public domain.
Why even sell it if it makes a profit? This question should be asked to everyone who decided to use paid bot services.
In other trading processes, I would suggest relying on my own head and turning off emotions.

Thank you for pointing out this situations which i believed will make newbies traders that only thought bot trading are the most exciting and ease way of making point in crypto trading realms while there's more to it in terms of managing the bot and doing some total cross checking on the market activities. But i believe market price alert are way better than bot if the trader can control his emotion when trading.

I have participated in many similar bot related programs. As a rule, all these bots had certain positive statistics at least in the monthly period.
Each time I was convinced that the bot was configured based on the mistakes of previous similar bots, everything was taken into account in it, which means it will inevitably be profitable.
The most interesting cases were with bots whose algorithms were used to analyze all the dynamics of the market for all time.

Some of them showed stable and good profits on the basis of past events. I think you yourself understand that the authors of these bots assured them of their efficiency, and they themselves believed in it.
But in the end, I met the same story everywhere. The bot worked for several months, bringing its investors income from 1% to 10% per day.
But one day, investors went to their personal dashboards from where to monitor the work of the bot and were horrified because the bot lost everything.

The creators explained everything by speculation and manipulation in the market. But everything is obvious to me. Such bots can only trade in the environment that they have studied and calculated.
They are not able to take into account new data that introduce the human factor into the equation, so ordinary bots are not able to cope with such a difficult task as crypto trading.
In any case, in the long term, I have not seen such bots. But artificial intelligence can quite solve this problem.

indeed it would be better to trade in the traditional way and rely on the capabilities it possesses rather than having to find ways to make it easier but at high risk. it is not recommended to use trading bots, because the price flow of crypto will not always be the same and need a complicated algorithm for the bot.

My first freqtrade bot algorithm was a simple RSI/bollingerbands price watching for a price to below the lower band(trade against the market BAD strategy), and wait for a 6% gain.  it was making money in a rising market, but it could have made more buying and holding.  It's main weakness was that a price many times will continue to drop after it has gone below the lower band, so the bot was left with a lot a few coins.  My new algorithm is attempting to trade with the market, and we will see how it goes with the coming pump and mild drop.


Wishing everyone a profitable future

This something that I have not really considered but it is true, in order for a bot to trade you will need to give it access to your account and if for some reason you bought a bot from an unknown source then there is a very high chance that you're going to get hacked and instead of getting money you're going to lose it and that is never a good thing, this most likely will happen to newbies and not to experimented users because newbies are the ones that think that bots are just a magical way of making money and that is not true.

This is absolutely correct.

Bots have different roles in the trading industry, it could be use on automatically picking the right choice to make to trade, or you could manually put what you wanted to trade and the bot will do it overnight if you wanted a sleep, basically just that. However, just like what you have said, we have to know how to take advantage of it and not just randomly use it believing that it could give you profits without the user making the first move, unless he have the automatic trading bot that do all the works.


I agree.

Yea this basically sums it up. Close please. ;P
But seriously that's all there is to this topic. If you are a profitable trader then a bot will make you money. If you are not, then it'd be better to spend time/money on learning process not software.

Basically everyone agrees that bots are not here to make you money, not if you don't know how to do it. Bots are here to do something you normally would do but help you do it automatically. You know how to make a profit from trading?

Great you can either do it manually or tell your bot to do it for you when you are sleeping, it is not a cash printing program, if it was like that you would have seen multiple super rich people in the world all thanks to bots but the only people who become rich thanks to bots are the creators of the bots that sell these software. So, if you do not trust yourself manually, don't go and buy a bot, it only works if you know what you are doing and you want the program to do the same thing you do but do it automatically while you are not on your PC.

It is too low for me and that is why I do no use trading bots. Trading bots are for the people who doesn't enough time to focus in trading. I have a lot time so I do not have any idea to use trading bots. Trading bots are also base on luck so there is no guarantee that your money will grow from it. I prefer to use my own decision in trading than in trading bots because I trust more my analysis than the analysis of trading bots.

Bots only help you in doing trading, this all depends on your analysis and luck too. Many people are wrong that bots can always bring profit. Experience when using bots trading is easier than we have to see too often in the crypto market and of course the settings of bots must really be in accordance with our analysis.

But becareful when using bots because the are some fake ,which is the real intention is to hack users private information such those that have curiosity about the real bot advantages. So be aware because nowadays in just one mistake it can cause massive losses.

It depends on what you set so that the bot can interact with the market condition but this is still not reliable since we cannot still guarantee to earn that's why I always prefer manual trading since we will got a high chances to lose when certain bad market condition will strike when we are not attended.

Is there a possibly that you are setting your bot after market situation changed? Or maybe bot only work once,  by the way i ask this because i am zero about trading bot. And what i know only trading bot is all depends on who use it, if they can use it properly then it can make profit. Like trading strategy as usual.

I was succeeded with trading bots in a short time when the market is pretty stable. However i decided to stop using trading bots because the bot strategy wasn't profitable anymore, it couldn't handle the market situation.

A trading bot is just another way traders have of making money in the markets, but think about it, if a trader cannot make money on his own without a bot then it is going to be impossible for him to give instructions to the bot that will give him profits since he cannot do that by himself, if anything the bot will make him lose money even faster as the bot will trade the markets every single day without rest while a human needs to take a break once in a while and that saves you money if you are a losing trader.

Bots can be profitable especially if they have good algorithms to handle any types of scenario's when it comes to trading. As we all know bitcoin with its volatility has been very hard to do technical analysis but now bots has become more sophisticated in dealing with such scenario's, so they might be viable tools and is convenient for most traders.

I'm using info bot from CEX, https://t.me/CexIoInfoBot. It's not a trading bots in their traditional meaning. But it's quite a helpful tool in both long/short-term trading.

When the whole world makes money it is not really bots that can take the credibility, the peak ATH type of great days are of course perfect times to use bots and you can make profits during those times, sure maybe personally you could be busy or you don't want to deal with things so you can use bots and make that profit instead however when all coins are going down, how the hell do you think you can make any profit at all with a bot?

What the bot can do at beast is drop the average down so it could profit later easier, that is all it can technically do. I still prefer long term holding over anything else, no bot has managed to make 100% profit in the past 1 year whereas if you bought a year ago you would have 100% profit right now, why would you need a bot if it is worse than simply doing literally nothing.