Trading bots... do they work? | Bitcointalksearch.org

Hamza2424

legendary

Activity: 966

Merit: 1042

#SWGT CERTIK Audited

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Hmm not actively relying on the trading bots, as Bot's more helpful in the consolidating market (Personal Observation), Still I can give some of my experience points, Bots works but you need to always know that bots are bots haha, Bots work well but it also depends what type of customizations are available in your bots and how you've customized them, from customization I mean adding margin, accumulation levels, and profit levels.

Keep in mind there's nothing called 100% winning in the trading market I've carried losing trade-in bot for over 4 months so you can say if the market wants to test you not even bots can save you.

IceLincoln

newbie

Activity: 0

Merit: 0

Quote from: Aanuoluwatofunmi on September 06, 2023, 03:52:54 PM

Yes they exist and work,
Do they last? No they don't
Are they always accurate? Sometimes they are and other times they don't, there's no reliability in using them.

If using a trading bot is what we can see from other angle that it's not 100% effective, they cost us money and yet are not that reliable for maximum profitability as the results we would ever wanted to have, so if you think you want a long lasting and reliable trading experience, learn how to trade and be knowledgeable.

I’ve heard so much about trading bots from some people who claims to be using them and it’s working, the way they talk about it, it’s as if it gives 100% assured profits. I’ve not tried it though, I only listen. One time I would have tried it but luckily for me the bot crashed before I could get involved.

Mahanton

hero member

Activity: 2688

Merit: 625

Quote from: batang_bitcoin on May 04, 2024, 04:58:45 AM

Quote from: Assface16678 on May 03, 2024, 07:54:46 PM

Quote from: batang_bitcoin on May 03, 2024, 02:41:22 PM

Quote from: ShowOff on May 03, 2024, 02:25:05 PM

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

And that's why there are trading bots that can help us whenever we're out of the market. But it's only setting them to the prices that we should hit.
It's true that no trader gets consistent profits because even the best, they're also getting losses and no one is going to skip that part because we're all going to get it whether we like it or not.

But do mind also that the trader will still the one to set on what will the trading bot should do, meaning it will only follow on what range or setting you trader puts, it simply automate your trade for you, for example you will set your trading bot to trade in the specific price range, meaning the trading bot will automate to trade at that range and they are the one that will initiate and do the work for you, so if you happens to put a bad range or not a good settings then expext that your bot will not function and it may also make you lose money, although trading bot will be a big help, still I dont think relying in trading bot is not enough or not good, a trader should also enchance or should have the necessary knowledge and skills in order to prosper and to eventually make a good use of trading bot.

Yes, that's what I have said that you have to set the prices and the bot itself for it to work. Well, it automates your trade but doesn't really mean that it automates everything that a trader does. It's more of an assistant to your trades and you give them instruction about the process, but if you're too productive with them, that's good to see and keep doing your trades with the help of the bots. But if you see that they're working for you, stop it as it's a waste of money and resource.

Trading bots are really indeed for automation and something that would really be useful if you are a kind of trader on whose isnt really that much focused or something that have tons of errands or busy for your main job
or whatever more important things that you are really that dealing on with on which you would really be finding the real relevance of these bots on the time that you would really be doing trading.
Of course it would really be mainly up needing that kind of knowledge of the one who would be using it. There might be those bots which are already that been set or already that been having those kind of
configurations but still it would really be that good that you would really be checking it out once in a while considering that there are market instances or situations on which it would be needing up that
immediate action on which it would really be needing up that traders immediate attention of course.

ancafe

hero member

Activity: 1582

Merit: 690

Quote from: ShowOff on May 03, 2024, 02:25:05 PM

Trading bot can also generate profits, but I was never sure that bots could provide consistent profits to traders every day. The way a bot works should follow the instructions given by the trader or the programmer, so clearly the profits and losses depend on how the trader gives instructions to the bot, although the bot can also make analyzes based on the approach instructed.

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

That is certain because it is impossible for a trading bot to be created if it is not able to generate profits, but as we discussed, the level of profile consistency every day cannot possibly be guaranteed. Because if that could happen, why would people be so busy investing independently and it would be better to use a trading bot if it could produce consistent profits every day. Trading bots are programmed by people and that means they follow almost the same patterns as manual trading capabilities and it is impossible to follow orders for a profile every time.

Trading is much riskier than investing, which is why people think trading is not easy to do, whether using a trading bot or not. I agree with you that trading can be done when people are really ready, except for those who are experienced in dealing with risk because even if they experience a loss, they can recover in the next trade.

batang_bitcoin

hero member

Activity: 2968

Merit: 600

Eloncoin.org - Mars, here we come!

Quote from: Assface16678 on May 03, 2024, 07:54:46 PM

Quote from: batang_bitcoin on May 03, 2024, 02:41:22 PM

Quote from: ShowOff on May 03, 2024, 02:25:05 PM

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

And that's why there are trading bots that can help us whenever we're out of the market. But it's only setting them to the prices that we should hit.
It's true that no trader gets consistent profits because even the best, they're also getting losses and no one is going to skip that part because we're all going to get it whether we like it or not.

But do mind also that the trader will still the one to set on what will the trading bot should do, meaning it will only follow on what range or setting you trader puts, it simply automate your trade for you, for example you will set your trading bot to trade in the specific price range, meaning the trading bot will automate to trade at that range and they are the one that will initiate and do the work for you, so if you happens to put a bad range or not a good settings then expext that your bot will not function and it may also make you lose money, although trading bot will be a big help, still I dont think relying in trading bot is not enough or not good, a trader should also enchance or should have the necessary knowledge and skills in order to prosper and to eventually make a good use of trading bot.

Yes, that's what I have said that you have to set the prices and the bot itself for it to work. Well, it automates your trade but doesn't really mean that it automates everything that a trader does. It's more of an assistant to your trades and you give them instruction about the process, but if you're too productive with them, that's good to see and keep doing your trades with the help of the bots. But if you see that they're working for you, stop it as it's a waste of money and resource.

Assface16678

full member

Activity: 1358

Merit: 134

★Bitvest.io★ Play Plinko or Invest!

Quote from: batang_bitcoin on May 03, 2024, 02:41:22 PM

Quote from: ShowOff on May 03, 2024, 02:25:05 PM

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

And that's why there are trading bots that can help us whenever we're out of the market. But it's only setting them to the prices that we should hit.
It's true that no trader gets consistent profits because even the best, they're also getting losses and no one is going to skip that part because we're all going to get it whether we like it or not.

But do mind also that the trader will still the one to set on what will the trading bot should do, meaning it will only follow on what range or setting you trader puts, it simply automate your trade for you, for example you will set your trading bot to trade in the specific price range, meaning the trading bot will automate to trade at that range and they are the one that will initiate and do the work for you, so if you happens to put a bad range or not a good settings then expext that your bot will not function and it may also make you lose money, although trading bot will be a big help, still I dont think relying in trading bot is not enough or not good, a trader should also enchance or should have the necessary knowledge and skills in order to prosper and to eventually make a good use of trading bot.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: 2Pizza410000BTC on May 02, 2024, 07:58:29 PM

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

I have never used bots in my trading and have no experience using bots. I always use my own experience as much as possible in my trading. I never trade on trading platforms with bots because as much as I can trust my own trading experience, I cannot trust my trading bot. I always think that one should trade using own experience on the trading platform because own experience on the trading platform is more likely to succeed.

If you do have that full time or having that huge vacant then you would really be definitely be doing up with those manual trades and this is something that will really be your routine but for those people who do have their day jobs and some errands or something important matters and just making trading as their side income or profit then making use of bot is something that would really be relevant and helpful. It is really just that most newbies or not all would really be having that kind of impression and beliefs into their mind that trading bots could actually make them money or somewhat being a sure thing without even trying out to realize that they are really just that tools that makes your trading venture would be more that simple and not hassle. Come to think that bots are really just that automating those strategies that has been set on which it would really be just that normal that it will really be that that basing up on someones knowledge on how they would be setting up their bot. If you dont have that sufficient knowledge about trading and using up indicators
then there's no way that you could be able to make yourself knowledgeable on using these things too.

batang_bitcoin

hero member

Activity: 2968

Merit: 600

Eloncoin.org - Mars, here we come!

Quote from: ShowOff on May 03, 2024, 02:25:05 PM

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

And that's why there are trading bots that can help us whenever we're out of the market. But it's only setting them to the prices that we should hit.
It's true that no trader gets consistent profits because even the best, they're also getting losses and no one is going to skip that part because we're all going to get it whether we like it or not.

ShowOff

legendary

Activity: 2618

Merit: 1181

Quote from: ancafe on May 03, 2024, 03:52:22 AM

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

So please, only comment below if you're actively using trading bots and how successful they are.

There is no way to earn consistent income in bots and not even trading if people can make consistent profits all the time. You have to understand trading not at the level of the bot itself because otherwise the trading you do will not produce any results.

Trading bot can also generate profits, but I was never sure that bots could provide consistent profits to traders every day. The way a bot works should follow the instructions given by the trader or the programmer, so clearly the profits and losses depend on how the trader gives instructions to the bot, although the bot can also make analyzes based on the approach instructed.

I'm sure no trader can get the consistent profits they want every day, of course there are times when they lose because the market doesn't match predictions. However, trading does not have to be done non-stop every day, this means that trading must be done on time and because of opportunities, not just because you have a budget.

ancafe

hero member

Activity: 1582

Merit: 690

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

When you spend money to buy, the bot will function and work according to orders. More precisely, you use a third party to carry out trading and some people actually avoid it for reasons of having their own knowledge rather than trusting a third party for the trading they do. But you have to be more selective because bots that are programmed and set by certain people are likely to be scams.

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

So please, only comment below if you're actively using trading bots and how successful they are.

There is no way to earn consistent income in bots and not even trading if people can make consistent profits all the time. You have to understand trading not at the level of the bot itself because otherwise the trading you do will not produce any results.

2Pizza410000BTC

full member

Activity: 364

Merit: 195

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

I have never used bots in my trading and have no experience using bots. I always use my own experience as much as possible in my trading. I never trade on trading platforms with bots because as much as I can trust my own trading experience, I cannot trust my trading bot. I always think that one should trade using own experience on the trading platform because own experience on the trading platform is more likely to succeed.

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: Fredomago on October 03, 2023, 03:08:41 AM

Quote from: Quidat on October 02, 2023, 03:54:59 PM

Totally that useful i should say specially into those people who do really utilize its usage and usefulness specially on automated trade on which it could really be able to bring out that convenience
on a certain trader and something that cant really be that be able to utilize with those noobs whom do really believe that trading bots could really make money for them which it is really just that
having that so common misconception on how things should really be handled it right. Trading bots are for automation and make things that more comfortable or something that would really be applying out your analysis on automated manner and not really that something that could give out sure profits or making money on what most those noobs do have in mind. This misconception do still
really spread out and even present nowadays but well as the time that they would be having those real experiences towards it then for sure they would really be able to realize
that they were totally wrong on what they do have mind earlier.

A total misconception where newbies thinks that with the use of bot they will be able to generate profits, thinking that executing bot will allow them to have a winning trade, unless they've got the knowledge to make a usable program for bot then they might be generating decent benefits but if there's no knowledge at all, they just simply doing it like a normal gambling type of trade.

More on your own evaluation and how you figure the next market movement, your input is what the bot needs to execute the system
and bring you the outcome that you design and expect.

A total misconception i would say and i do agree on whats been said or mentioned above on which newbies would really be the only one that they would be thinking that they could make money
or sure profits with trading bots on which this is really very wrong because we do know that when it comes to bots then this isnt something that makes you guaranteed profits but rather these
are tools that would really be aiding you to execute your trading set up and everything would really be just that depending on the setting or commands that you had put up into.

It would be totally useless if you do make use of bots but dont know on how to use it then it would really be just that no sense on doing so. You would be still losing because
there would really be bot settings which it would really be that ideal to be used on a certain market condition and this is where traders knowledge would really be relevant.
This is why it would be always best that you should really know on what you are doing.

SemiSharma

newbie

Activity: 6

Merit: 0

I must say, diving into the world of cryptocurrencies can be like navigating through a jungle - full of exciting discoveries and unexpected twists. Your insights on the potential of Bitcoin are spot on! It's like the golden goose of the digital era, isn't it? But, let's tread cautiously, for every rose has its thorn.

benalexis12

full member

Activity: 798

Merit: 117

Because the trading bot has a risk, if you set it up wrong, you won't make any profit. But I haven't tried that yet, and I don't want to try either because I know it's not profitable. Most people here in the crypto community also know that.

I don't know how the trading bot became profitable when so few say it is profitable. So, meaning, hype is what happens for someone to try the trading bot; this is just my observation.

Fredomago

legendary

Activity: 2954

Merit: 1050

Leading Crypto Sports Betting & Casino Platform

Quote from: Quidat on October 02, 2023, 03:54:59 PM

Totally that useful i should say specially into those people who do really utilize its usage and usefulness specially on automated trade on which it could really be able to bring out that convenience
on a certain trader and something that cant really be that be able to utilize with those noobs whom do really believe that trading bots could really make money for them which it is really just that
having that so common misconception on how things should really be handled it right. Trading bots are for automation and make things that more comfortable or something that would really be applying out your analysis on automated manner and not really that something that could give out sure profits or making money on what most those noobs do have in mind. This misconception do still
really spread out and even present nowadays but well as the time that they would be having those real experiences towards it then for sure they would really be able to realize
that they were totally wrong on what they do have mind earlier.

A total misconception where newbies thinks that with the use of bot they will be able to generate profits, thinking that executing bot will allow them to have a winning trade, unless they've got the knowledge to make a usable program for bot then they might be generating decent benefits but if there's no knowledge at all, they just simply doing it like a normal gambling type of trade.

More on your own evaluation and how you figure the next market movement, your input is what the bot needs to execute the system
and bring you the outcome that you design and expect.

FahriZah

member

Activity: 487

Merit: 10

I don,t believe in bots because i,m not a robot and i,m a human so when trading managed by bots than facing so many problems with many issues and i always fever to analyses own and research from others platform like google, youtube,telegram like this and some good channels for trading signals in telegram i also using i never used bots in trading section.

Quidat

hero member

Activity: 2548

Merit: 533

Quote from: Fredomago on October 02, 2023, 04:34:50 AM

Quote from: Vaculin on September 29, 2023, 11:17:57 AM

Quote from: Hypnosis00 on September 25, 2023, 09:45:15 AM

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

I'm not really good at trading so I try bots thinking that it help me and expecting this would change my mind about leaving trading. Unfortunately, the results never met my expectations, for me, it was a failed attempt. I've found out that trading bots is useless if you as a trader don't have knowledge about trading. I'm not sure if hiring someone to set up the bots instead of doing it personally is a good idea, but I don't think so. Because the only ticket for us in order to succeed in trading is to become knowledgeable about this.

Trading bots does not bring magic to your trades. What you need in trading is your potential as a trader, and the best of your knowledge and skills that will help you improve your trading career. Those who have succeeded from using trading bots are probably professional traders as well, otherwise if you are just a beginner trader and you resort into using these trading bots, definitely they will not be working either.

Logically right, as we all know how trading bot works.
Still relying with how the inputs of the users, so if you are new to this business chances that bot will lead you to lose your money is possible unlike if you are already an experienced trader who are practicing your knowledge using the bot.You have that edge in terms of anticipating the market and how it will move in the next market trends.

It's more on how you deal with an ordinary trade, your practices will reflect to the bot that you'll going to use, the better understanding you've got the best result it can be for your trading experienced.

Totally that useful i should say specially into those people who do really utilize its usage and usefulness specially on automated trade on which it could really be able to bring out that convenience
on a certain trader and something that cant really be that be able to utilize with those noobs whom do really believe that trading bots could really make money for them which it is really just that
having that so common misconception on how things should really be handled it right. Trading bots are for automation and make things that more comfortable or something that would really be applying out your analysis on automated manner and not really that something that could give out sure profits or making money on what most those noobs do have in mind. This misconception do still
really spread out and even present nowadays but well as the time that they would be having those real experiences towards it then for sure they would really be able to realize
that they were totally wrong on what they do have mind earlier.

TakeItEasy

sr. member

Activity: 1622

Merit: 270

Undeads.com - P2E Runner Game

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

Trading bots, I have used them before, but the experience was not that good, as it is used for buying and selling. I have only used the two features buying and selling and that was also for a very short time.
Sometimes, it showed the wrong entry when I wanted to take entry in any coin, and also my telegram got closed by itself due to this. Thus I stopped using and I'm using the Binance exchange after that.
So, I had concluded from my experience about the trading bots, that using the exchanges is much better than these bots. and checking after too many times, sometimes it will not show me the rate which the coin should have.
You can try different exchanges to get some trading experience and also check different coins there and trade between them.

Lakai01

legendary

Activity: 2296

Merit: 2721

Top Crypto Casino

Quote from: lixer on October 01, 2023, 03:18:24 PM

The first thing that you said is the true purpose of the bots, and the rest are just an addition. But whether using a bot or not, a trader can still expect more, especially if he thinks the strategy that he uses are really good. If he doesn't have his own strategy because he still lacks of knowledge and skills, he can use someone's pre-configured bot and he can expect the same thing, especially if the bot owners promised them that their bots are highly profitable.

Of course, you're right. But if you copy someone else's strategy anyway, I wouldn't call that trading, for me that goes under "copy trading". Such features are sometimes also offered by well-known exchanges/platforms.

Quote

OKX is a cryptocurrency exchange that provides a user-friendly copy trading platform that enables users to select and replicate traders. With OKX copy trading, you can share your best trading strategies for rewards or learn and copy trade across more than 600 trading pairs with our lead traders worldwide.

Source

But the learning effect of copy trading is zero, you have to blindly rely on the fact that what the trader you follow does is also sensible and successful. To be able to assess this, however, you need experience. I therefore consider copy trading to be a nice gag, but I would never invest money in it myself.

Disclaimer: Of course, this is not meant to be an advertisement for OKX, I have never used the service myself (and don't plan to do so).

Fredomago

legendary

Activity: 2954

Merit: 1050

Leading Crypto Sports Betting & Casino Platform

Quote from: Vaculin on September 29, 2023, 11:17:57 AM

Quote from: Hypnosis00 on September 25, 2023, 09:45:15 AM

Quote from: CoinPunkz on September 06, 2023, 12:48:22 PM

Looking to get some real-world feedback on trading bots, the pros, the cons and the most important question... do they work?

So please, only comment below if you're actively using trading bots and how successful they are.

I'm not really good at trading so I try bots thinking that it help me and expecting this would change my mind about leaving trading. Unfortunately, the results never met my expectations, for me, it was a failed attempt. I've found out that trading bots is useless if you as a trader don't have knowledge about trading. I'm not sure if hiring someone to set up the bots instead of doing it personally is a good idea, but I don't think so. Because the only ticket for us in order to succeed in trading is to become knowledgeable about this.

Trading bots does not bring magic to your trades. What you need in trading is your potential as a trader, and the best of your knowledge and skills that will help you improve your trading career. Those who have succeeded from using trading bots are probably professional traders as well, otherwise if you are just a beginner trader and you resort into using these trading bots, definitely they will not be working either.

Logically right, as we all know how trading bot works.
Still relying with how the inputs of the users, so if you are new to this business chances that bot will lead you to lose your money is possible unlike if you are already an experienced trader who are practicing your knowledge using the bot.You have that edge in terms of anticipating the market and how it will move in the next market trends.

It's more on how you deal with an ordinary trade, your practices will reflect to the bot that you'll going to use, the better understanding you've got the best result it can be for your trading experienced.

Topic: Trading bots... do they work? (Read 988 times)