Topic: trading bots, do they really worth it? (Read 170 times)
I advise you not to use them, for example, have already gone through it, all the bots lead to the drain, study the market and eventually come to understand the market
Some notable trading bots, such as the Gunbot, encourage their users to try manual trading alongside the bot and suggest that the algorithms the bot uses are applicable to manual trading as well.
A lot of the time, these bots are trading between Bitcoin and altcoins, not between Bitcoin and fiat. This means that even in a bear market, the fluctuations of different cryptocurrencies against each other can vary significantly. With the help of manual trading, these bots can be managed in bear markets.
A combination of trading bots and manual trading can be fairly effective depending on your strategy.
A lot of the time, these bots are trading between Bitcoin and altcoins, not between Bitcoin and fiat. This means that even in a bear market, the fluctuations of different cryptocurrencies against each other can vary significantly. With the help of manual trading, these bots can be managed in bear markets.
3) In a bull market every bot can make money.
These bots tend to profit off short-term fluctuations rather than buying and holding long-term, so it's common for bots to lose money in bull markets as well as bear markets.A combination of trading bots and manual trading can be fairly effective depending on your strategy.
When I was first into crypto business, I overheard people talking about bots. As I am a computer engineer, this topic
attracted my interest. I thought "I am good at developing applications, so why not use it to develop a crypto bot and make money".
I took it serious and put a lot of effort on it. Finally I came to a conclusion and want o share it to everyone.
I dont want people to fall into false hope. Here is the outcome I run into throughout my bot experiences
1) There are many kinds of bots that can be developed and trading bots are the most unpredictive, most impulsive ones.
2) A trading bot generally produce good results in bull market. Once the market converts to bear, bots generally do most harms that benefit.
3) In a bull market every bot can make money. This shouldnt make you think that your bot is doing well.
4) In trading bots, making use of `order book` doesnt make much sense since the stop orders are not visible.
5) In trading bots, taking into consideration some other factors like volume, peak price, lowest price makes some difference but not much.
Long story short, using bots in crypto is good. But using trading bots is something I don't urge you to use.
Some lending platforms promise their users that they are using some trading bots are making good money. Dont believe them. That kind of trading bot
doesnt exist. Indeed when a project mentions trading bots, I keep my distance to it.
attracted my interest. I thought "I am good at developing applications, so why not use it to develop a crypto bot and make money".
I took it serious and put a lot of effort on it. Finally I came to a conclusion and want o share it to everyone.
I dont want people to fall into false hope. Here is the outcome I run into throughout my bot experiences
1) There are many kinds of bots that can be developed and trading bots are the most unpredictive, most impulsive ones.
2) A trading bot generally produce good results in bull market. Once the market converts to bear, bots generally do most harms that benefit.
3) In a bull market every bot can make money. This shouldnt make you think that your bot is doing well.
4) In trading bots, making use of `order book` doesnt make much sense since the stop orders are not visible.
5) In trading bots, taking into consideration some other factors like volume, peak price, lowest price makes some difference but not much.
Long story short, using bots in crypto is good. But using trading bots is something I don't urge you to use.
Some lending platforms promise their users that they are using some trading bots are making good money. Dont believe them. That kind of trading bot
doesnt exist. Indeed when a project mentions trading bots, I keep my distance to it.
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