Topic: Trading bots... do they work? - page 2. (Read 1341 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.


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).

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.

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.

Rather, you can say the owners of those bots won't ever publicize it but they can just solo the gains that they can get out of that bot because if all will use it, who will lose on a trade and give us a profit?

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.

Yeah, but just to add, it's not as passive as many think it is. There's no one, good, optimal bot setting that will guarantee profit. Even with a most advanced and complex settings you still have to monitor the market for any deviations from expected patterns. Otherwise you're doomed to fail.
It can't be too easy, if it was, everyone would be doing it.

They work well to make your trading run more automatically because you only need to set it well, your profit and loss percentages are set in the bots, and some paid bots provide certain signals such as when there is a large transfer of funds from one address to the exchange so that it can give a little sign of what might happen in the future, don't be mistaken, bots don't increase your profit percentage, they just make you more automatic.

You would really be seeing the actual relevance of bot in trading if you do really know on how to make use of it and just like the rest been saying that you would really be eventually be able to see and appreciate its usage
specially if you are that a trader who doesnt really like to see and watch chart all day long on which you could really be simply be putting up those bots in work and would really do the job for you but of course they arent
really that adaptive specially if there would be some sudden news on which means that it would really be needing with your own decisions and alterations on the time that you do make out decisions on changing those trading methods or ways.

Agree on some points above that newbies are the ones who do have that kind of impression on which they do really believe that Trading bots could really make out money for them or able to generate without doing much
work without even trying out to realize on whats the actual usage or how it should really be used in the first place. If they do really just know that real deal with these bots then they would really be looking themselves like clowns on believing on something which it is really that impossible. Trading bots do really work but of course when it comes to precision and efficiency would really be always depending on the set up
or commands that you had put up.

Generally, trading bots depend on your capability as a trader. And it only works efficiently if you properly set it up like what you did in actual trading. It doesn't matter if that trading bot has good reviews/feedback as it really depends on the trader who uses that one. If you are knowledgeable in trading, you can also think that the results are positive but in a newbie, we couldn't think about it. That is why it is better to gain more knowledge first about trading rather than thinking about using bots as it never gives us positive output.

Trading bots does work for spot trading and even futures trading. you dont need to do anything after its set up, the bot will take trades for you and make profits or losses depending on the market situation at that time. you just need to be sure that the reviews from previous users are good before you purchase if you want to buy or subscribe to the service. if at anytime you notice the bot is doing things beyond the normal then i think you should stop it and close trade manually.

Better understanding and if you have deeper knowledge, you can really maximize the use of this system, as mentioned, you still have to program or input what you think the market next movement, system that will allow you to position your prediction in advance, bot will execute even you are sleeping, you don't need to spend more time if you know how the system works.

The good catch behind it is you can trade without emotion. I mean, after you setup your position using bot, all you have to do is wait and allow the cycle and see if your assessment is correct. Let that bot work for you.