Trading Bots - are they worth buying?

cryptothief

member

Activity: 350

Merit: 41

Quote from: Leonard2016 on February 24, 2018, 01:50:34 AM

There are few trading bots i know , most of them are not free like "Haasonline" , but they could be a good option if you are new to trading , they will make some losses but at least using some technical graphs for prediction , the only thing i suggest and would buy is "Cindicator" platform , if you got some coins of it you can access to database of others predictions , i think that's a great idea.

I've heard of Cindicator. Basically a copytrading platform right? Think there's a few of them out there too, or at least more coming. I like that you can pick traders to follow, and performance gets updated on a regular basis. Bottom line with any of them is that I will still be investing my own money, so will choose wisely. I think that suggestion is actually a good way to test the waters, not quite a bot, but a more adaptable compromise. I'll look into Cindicator a bit more anyway, pretty sure it was one of the Palm Beach picks a while back.

Leonard2016

hero member

Activity: 1036

Merit: 520

There are few trading bots i know , most of them are not free like "Haasonline" , but they could be a good option if you are new to trading , they will make some losses but at least using some technical graphs for prediction , the only thing i suggest and would buy is "Cindicator" platform , if you got some coins of it you can access to database of others predictions , i think that's a great idea.

Matrond

jr. member

Activity: 58

Merit: 1

If you're willing to find a trading bot that is regularly updated and legit, as well as willing to learn the ins and outs of the bot and continually modify your settings, then the trading bot can definitely be worth it.

Lock00Live

member

Activity: 238

Merit: 10

Blockchain with solar energy

I have used many different trading bots and I have concluded that it is not so effective in trading. Usually the profit for each trading is 1-3%, which is quite good when the market goes up but when the market is down it does not work and you still have losses as usual. So I advise you to invest in knowledge and follow the market to trade instead of using bots.

Beerwizzard

full member

Activity: 924

Merit: 148

Some weeks ago I've been looking through different forex robots (everything should probably be the same in crypto). The key point of using most of them is that you should be able to use it for a long period of time. It may dip for some months and only then renew the previous maximum so then you end up with a small but steady annual profits.
I haven't seen the results of the work of the crypto and the information is usually not disclosed but anyway you should have at least some knowledge about types of analysis to evaluate your bot.

michelinstar

newbie

Activity: 42

Merit: 0

Trading bot is useless without a proven trading strategy. I spent some months on developing-testing-developing-testing a trading bot and there were a couple of nice strategies but in September 2017 Bitfinex and Kraken API's were upgraded and there were so many bugs in their work and no support from their techs at all... I understood that even if my trading bot is performing good I am not safe with that irresponsible and unprofessional monsters - exchanges(((

Tactical Genius

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Leading Cryptocurrency and Blockchain Company

Well bots are made to read signals and trade according to those signals,some may be able to predict the market well and execute trades accordingly other time sit is just a mess especially for bots which are a bit buggy.There are some decent ones you check around but you need to read reviews from experienced traders first before purchasing any else you may buy a fake one

Scallywag

full member

Activity: 249

Merit: 100

there probably are some decent bots around , my advice would be make your own bot or don't do it. i would never feel comfortable giving a bot written by a stranger access to my funds. and like a guy above said why would they sell you a bot , if they should be able to make that much money in a day there is no reason to sell to you.

cryptothief

member

Activity: 350

Merit: 41

Yep, most people seem to be on the same page. Either why would someone give away something for nothing (debatable - some people like seeing others succeed, but I do agree that the majority will just be looking out for themselves) or charging for something which brings no guarantees, especially when the end user still needs to have the knowledge to get the maximum out of the product (this I agree with more, not so much because I think that all bots are scams, but because of the level of knowledge required to ensure profit means that if you have reached that level of knowledge, then it could probably be better used in manual trading). Thanks for all the comments anyway, I will take the slow and steady approach for the time being.

Andrey123

sr. member

Activity: 1778

Merit: 305

No free robot has ever brought money to its owner.
But they enriched those who sell them)

The simplest question: why sell or give away things that can bring you a lot of money?
For example, owning a way to solve a private key, a person will quietly devastate wallets, rather than all this way to give out)

All robots are created on the martingale method.
And not understanding the essence of this mathematical process, and this is quite difficult, the robot will spend the entire deposit, soon.
Do not waste time on this.

nicolas1979

sr. member

Activity: 826

Merit: 252

Quote from: cryptothief on February 20, 2018, 02:36:31 PM

I've been looking at trading bots and debating whether to invest in one. What would be the minimum amount I should start off trading to make it worthwhile, as they all seem to cost at least a few hundred dollars? Does anyone use any that they would recommend? Or would it be better to get involved with a trading pool or a signals channel? Appreciate any advice anyone might have.

No and please don't buy any bot for trade even they give you a good result explanation about they progress. You should now bot will not increase your skill and profit, for the first time is yes but after that loss will be your ( personal experience ). I have bad experience with bot and many people will say they same. Don't make same mistake like me, just keep learning and test your strategy by your self. Stay away from bot.

cryptothief

member

Activity: 350

Merit: 41

The comments are pretty much what I was expecting and I do agree it is frustrating being on some of the trading sites and seeing the bots constantly updating orders. It takes the fun out of it. I was just thinking of a way to build a passive income stream, but will hold off for the moment, at least until I have gained more trading experience and have a decent sized pot to build on. I would not stop regular trading even if I did get a bot, that would just be to top up (hopefully) my income.

stronghands4lyfe

full member

Activity: 280

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The revolutionary trading ecosystem

Not only do I think it is not worth it because you will have to have tons of capital to begin, I think we should stop trying to do these practices because it will take away from the game being more natural. I would prefer trading to humans, not bots when I do. That would annoy me, we already have enough automation in the world, lets leave the trading alone please

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cryptothief

member

Activity: 350

Merit: 41

Thanks for the replies, I do know people that make money using bots, simply because they have put in the time and effort to constantly tweak them to maximise their returns. But yes, reading the above replies, I think the best way for now is to keep learning and trade manually. Maybe down the line it could be a possibility, but for the moment I guess I will remain glued to my computer screen.

timikulit

full member

Activity: 196

Merit: 103

Trading bots are not that profitable in a long time. my advice is to get away on signal service or try any trading bots you will just lose capital. If trading bots or trading signals are really true then many will be millionaire now and no will lose trading crypto.

the best way is to learn your own way how to trade the market and not to rely to others says. It is better to lose in trading using your own strategy rather than following trades of other people you dont know.

Oilacris

hero member

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Quote from: cryptothief on February 20, 2018, 02:36:31 PM

I've been looking at trading bots and debating whether to invest in one. What would be the minimum amount I should start off trading to make it worthwhile, as they all seem to cost at least a few hundred dollars? Does anyone use any that they would recommend? Or would it be better to get involved with a trading pool or a signals channel? Appreciate any advice anyone might have.

Why would purchase if there are fee bots in the internet? If you do believe that this Bots will give you or generate and income for you then I would say that it is not possible yet you do still knowledge for you to set it up on your own to fully utilize the capability of that certain bot which means its not really reliable on making money on his own which most newbies do believe on that once bot is being placed then leaving the rest to it on making money which do only on fairy tails.

BettingTips

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Activity: 238

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OPEN GAMING PLATFORM

I think it's worth but only when it's legit trading bot

. There are a lot of trading bots being sold on the market but almost these bot are scam. In this forum you can easily find out a legit bot named Gunbot

. It's a little bit expensive, as I know it cost 0.1 BTC for a lifetime trading bot and this bot only run on Poloniex exchange. A lot of traders used this bot already and it's really good.

cryptothief

member

Activity: 350

Merit: 41

Yes, that makes sense. I am new to trading and therefore steering well clear of day trading, just investing in longer term buys. No quick fix solution. I'll keep doing research and learning as I go for the moment. That's what I read that any of the bots require custom settings, thanks for confirming.

Martinkuhn

jr. member

Activity: 161

Merit: 1

0xf54CA5618b90810722B0e833DC150a97743A40B4

There are plenty of trading bots but if you have no idea what you are doing, you will still lose money while others make money.

You ought to learn to trade on your own for a while and understand what works and what does not before you use a bot to automate your trading.

You can then either purchase a bot that matches your trading or get a programmer on upwork to help you program it.

I use my own customised bot and it is returning me profits on a daily basis. I am not the only one doing this and most will never sell a profitable bot..

cryptothief

member

Activity: 350

Merit: 41

I've been looking at trading bots and debating whether to invest in one. What would be the minimum amount I should start off trading to make it worthwhile, as they all seem to cost at least a few hundred dollars? Does anyone use any that they would recommend? Or would it be better to get involved with a trading pool or a signals channel? Appreciate any advice anyone might have.

Topic: Trading Bots - are they worth buying? (Read 192 times)