Trading bots... do they work? - page 3.

Fredomago

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Quote from: poodle63 on September 26, 2023, 07:06:46 PM

Quote from: asyakashi on September 26, 2023, 03:15:52 AM

I'm sure if it is a genuine trading robot of course it works. But that doesn't mean the robot used in trading can be completely accurate in looking for signals. usually we use it for traders who have little time to analyze and let bots play their money in trading. If you really want to use it, make sure to actually use the trial of the bot to ensure whether it really meets our expectations or not.

and these bots that usually works really well are the one designed for it, meaning it has ability to make some guess based on current pattern which revolves around taking advantage of guidebook chart analysis.
meaning that its not some random bot with minimalistic capabilities and if i remember correctly most of exchange out there that give bot features are just giving bot with minimalistic capabilities just to determine when to entry and when to cash out meaning it won't be that massive of help.
if you are good at programming, you could bould it yourself and make it better suits your needs and I think thats far better than using some random bots.

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.

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Quote from: asyakashi on September 26, 2023, 03:15:52 AM

I'm sure if it is a genuine trading robot of course it works. But that doesn't mean the robot used in trading can be completely accurate in looking for signals. usually we use it for traders who have little time to analyze and let bots play their money in trading. If you really want to use it, make sure to actually use the trial of the bot to ensure whether it really meets our expectations or not.

and these bots that usually works really well are the one designed for it, meaning it has ability to make some guess based on current pattern which revolves around taking advantage of guidebook chart analysis.
meaning that its not some random bot with minimalistic capabilities and if i remember correctly most of exchange out there that give bot features are just giving bot with minimalistic capabilities just to determine when to entry and when to cash out meaning it won't be that massive of help.
if you are good at programming, you could bould it yourself and make it better suits your needs and I think thats far better than using some random bots.

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Quote from: CODE200 on September 26, 2023, 09:28:07 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 can be of a great help if used properly. Yes, it can assist and support your trading matters even if you are away from your computer. But, trading bots are programmed just as a 'support', meaning that you cannot fully rely on it as it can also affect your trading negatively. Having trading bots does not mean that you will just let alone the bot do its job as there can be still an error and mistakes with it and such technical issues might still occur. Personally, I think trading bots best works if both of you work together as it can help to achieve better results in trading. And its not a good idea to trade if you don't have any knowledge about it, and the first thing that you cling onto are trading bots.

Totally useful if you are really that knowledgeable on making use of it or on how it should be ran but we know that other people does have different impression or different beliefs towards these things on which they do believe that trading bots are the ones that could make them money or simply it is really that a reason for them to become rich which it is really that a very wrong kind of thinking because this would really be rather leading into a disaster if you dont really make yourself stick into those realistic approach towards it. We know that it cant really be just that so possible that bots are really that making income for you.It is really just for the automation of your trading on which you are really that still the ones who do make out commands about those actions would really be made once it do hit up a certain condition and this what makes brings out convenience
specially into those people who arent really that always in front of their PC on which having these bots would really make out things even more simplier and more that convenient.This is the true purpose of its existence
and not into those things on which they are really that thinking that they could automate making some money without doing something and let those bots do the work.

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You might as well ask if there are any trading strategies that work.
If you (day)trade using specific metrics and according to a pattern (so don't make decisions based on gut feeling or current news) then that behaviour could be converted into a programmable bot. Of course the more different metrics you use, the harder it would be.
But you cannot have a definite answer on whether or not they work, as different bots can be programmed in completely different ways, i.e. a well-programmed arbitrage bot will always be profitable (even if the profit is small).

CODE200

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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 can be of a great help if used properly. Yes, it can assist and support your trading matters even if you are away from your computer. But, trading bots are programmed just as a 'support', meaning that you cannot fully rely on it as it can also affect your trading negatively. Having trading bots does not mean that you will just let alone the bot do its job as there can be still an error and mistakes with it and such technical issues might still occur. Personally, I think trading bots best works if both of you work together as it can help to achieve better results in trading. And its not a good idea to trade if you don't have any knowledge about it, and the first thing that you cling onto are trading bots.

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Quote from: Mauser on September 26, 2023, 02:18:55 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.

Yes trading bots are working, because they automate existing strategies and will reduce the time we need to spend looking after our trades. In the past a few friends from university pooled some money together and we tried out a trading book. It was quite successful, but it only worked with stocks. As long as there are experienced and successful traders beating the market on a consistent basis there will be bots that can run these strategies more efficiently. The real question is can you get your hands on these trading bots, or do you have knowhow to create your own bot. In case you are running successful strategies on your own than you can look into building your trading bot. But if you are looking for a free trading bot that is going to make you a lot of money I don't think it exist. Why should anybody give away his trading bot that works well for free? People would rather sell it for money.

Logically speaking, there's no one in the right set of mind will exposed his working money making system, if he knows that the bot he created will continually bring him decent amount of benefits, for sure he will try to keep it as secret as it can be to make sure that no one will use it or exploit it as the value of winning strategy or patterns is really important in terms of trading.

If you have that knowledge and you know how to execute your trade or your target positioning, bot will be useful for you to lessen the time of your stay in projecting your position, as bot can do the work after you input your desire strategy and it will execute it the way you wanted things to take place.

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I'm sure if it is a genuine trading robot of course it works. But that doesn't mean the robot used in trading can be completely accurate in looking for signals. usually we use it for traders who have little time to analyze and let bots play their money in trading. If you really want to use it, make sure to actually use the trial of the bot to ensure whether it really meets our expectations or not.

Mauser

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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.

Yes trading bots are working, because they automate existing strategies and will reduce the time we need to spend looking after our trades. In the past a few friends from university pooled some money together and we tried out a trading book. It was quite successful, but it only worked with stocks. As long as there are experienced and successful traders beating the market on a consistent basis there will be bots that can run these strategies more efficiently. The real question is can you get your hands on these trading bots, or do you have knowhow to create your own bot. In case you are running successful strategies on your own than you can look into building your trading bot. But if you are looking for a free trading bot that is going to make you a lot of money I don't think it exist. Why should anybody give away his trading bot that works well for free? People would rather sell it for money.

MFahad

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Instead of using trading bot use your own learning experience because there is a great difference between trading bot and own experience. One advantage of bot is that it will never regret for its actions whereas humans will always regret once they follow wrong concept. Disadvantage of using bot is that it will do for what you have set it but as you know that we are unable to predict the market so hardly it will achieve profit for you as with volatility a trader himself can make a good turn.

If you trade with the help of bot then how you will learn about market and how you will attain experience? Therefore try to use your own mind if you want to get experience and success in future. If you do mistake then you will learn to not follow that in future but this mechanism does not exist in bot as it always operates according to your entering code.

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Regardless if these trading bots are working or not, I would not prefer taking shortcuts. It's still much better if we do trading decisions on our own rather than relying on the bots for automation reasons.

Although I acknowledge that some traders with great or extensive knowledge are using these trading bots to automate their decisions, but still the best for me is by doing it manually which we can decide on our own. Just saying.

But if you are a beginner in trading, it's not best to use these trading bots which you need to improve and master your skills first.

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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.

To answer your question, trading bots work but not for everyone. Trading bot will work successfully only for those who have good knowledge about trading. Also I don't think trading bot will work very well for a new trader. If someone thinks that by using trading bots and will become a rich overnight, then it will be his wrong thought about trading bot, because if you can't drive, you should not seat on the driving seat cz This makes accidents more likely.
Already many people have mentioned above how trading bot works, so there is no need to describe here separately that if you use trading bot without technical and fundamental knowledge, you may face loss.

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

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.

I think that's because you used trading bots for exactly why NOT to use them:
Trading bots are simply meant to help you as a trader automate your strategy and trade even when you are away from your PC. So they are a support for you.

You probably expected a trading bot to magically make you money, unfortunately that doesn't work... and that's not what trading bots are for. Any platform that promises you the opposite is simply lying to you.

There are trading bots with ready-made strategies, but if they always worked 100% we would all be filthy rich.

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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.

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Quote from: Peanutswar on September 21, 2023, 09:39:01 AM

This is a good idea we know already when Elon musk makes a move with their favorite coins people keep buying and the market pumps immediately but still there's a possible condition we know how does the market makes manipulations, better if the bot or the programmer itself makes a good statement that must need to verify the percentage of the pump, I don't know if its possible they can make a TA in the code to identify for the TP/SL if the pattern satisfied the condition.

In such a case using a trading bot will of course be useful in making the best use of possible opportunities. However, it shouldn't be forgotten that it is actually possible to perform these operations manually. Activating all notifications for Elon Musk's X account and ordering instant market price transactions by following these notifications will definitely help you earn more easily. The most important thing to consider here is that orders such as TP/SL must be entered after the transaction as soon as possible, as all transactions will be done manually. In addition to these details, it is very important to carefully follow the price movements and other tweets that will be shared by Elon, since the transaction will be followed manually.

That is, if the event in question occurs it will be possible to perform both trading bot and manual transactions and earn profits. Both methods are something that needs to be handled very carefully.

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Quote from: salad daging on September 06, 2023, 04:46:26 PM

Not using this trading bot is certainly still pros and cons there are always those who say it's good or bad which obviously this comes back to yourself.

Now many exchanges provide trading bots or maybe you try it?

Don't have much experience so I can't comment more.

Many exchanges provides bots but there is no guarantee of passive income on a consistent basis depending on what you want the bot to perform.

For non-exchange provided bots, I consider them highly risky as they are catastrophic when they see deviations from trend. Also considering the volatility that goes with the crypto space, one cannot tell how high the volatility will be some times and the bot may not be coded to handle such.

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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.

The big exchanges like Kucoin,Binance had the trading bot,but as we know the trading bot is not highly recommended one.The trader can do the trading manually based on their trading knowledge,it alone help the trader to earn more money from the trading.The trader should learn the trading and also learn the holding.So he can easily earn money from the trading by holding.The panic selling was the bad move by the traders at the initial stage.Because it’s essential to hold the coins at the time of the bear market.

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Quote from: |MINER| on September 23, 2023, 01:22:32 PM

Trading bot works but I would say do it by yourself without using trading bot. Because the point is not that trading bot will work alone, you have to give commands. And if you are new to trading then I would say don't use bots. Get enough knowledge yourself first and then use the bot. Trading without understanding is very risky. You should use your own knowledge. Is it not stupid to depend on a bot to have your own intelligence? It is better to keep laziness away in these tasks.

Normal ! How are you to work with bots if you've little or no solid knowledge about trading? you might just even consider it a waste of money because you are the one to dispense the orders and instructions which will serve as guide for the bots. As he has said , there's no need to add more, but learn a strategy which will be follow by the bots to them you are their Master

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Quote from: |MINER| on September 23, 2023, 01:22:32 PM

Trading bot works but I would say do it by yourself without using trading bot. Because the point is not that trading bot will work alone, you have to give commands. And if you are new to trading then I would say don't use bots. Get enough knowledge yourself first and then use the bot. Trading without understanding is very risky. You should use your own knowledge. Is it not stupid to depend on a bot to have your own intelligence? It is better to keep laziness away in these tasks.

A valid point, relying with bot without proper knowledge about the business will lead you in losing your money, yes we can confirm that trading bot may work if being program properly but the chances is slim if you are new into this business and you are not good yet in anticipating how the market will move.

I mean, using your knowledge and let the bot to execute it for you will work, it helps to avoid emotional issues when you are dealing with positioning your trades.

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Quote from: Jody.Drummer on September 22, 2023, 07:43:17 AM

I also think that bots are created so that they stick to the controls that humans have created. As we know that when we solor trading without any help, it is very possible that there could be some losses that are caused by our carelessness when making decisions, one of which is that humans have a sense of doubt that always haunts them when they want to take a buy or cell position. So by using the bot it can minimize all the doubts that are usually the beginning of mistakes, but well that's true it also depends on the strategy you apply in the bost, if your strategy is wrong then obviously the final answer will also definitely not match your expectations at the beginning, in fact, the bot is quite helpful but it also depends on you who set it up.

Plus, when you make a mistake, trading bot sellers will easily be able to put the blame on you and not their product, which is why I do not like to use them at all, I have used them before, and I can't believe that when it is making a profit it's NEVER my trading that made it make a profit or the market going up that made it go up but it is the trading bot that makes it a profit, whereas when I end up losing money while using it, it could be the market crashing, or it could be me making a bad trade, it could be something but not the bot itself making a loss and sucks.

I am sorry but I rather not use anything that would get all the credit but none of the blame. This is why I try to avoid the bots and definitely avoid the sellers.

|MINER|

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Trading bot works but I would say do it by yourself without using trading bot. Because the point is not that trading bot will work alone, you have to give commands. And if you are new to trading then I would say don't use bots. Get enough knowledge yourself first and then use the bot. Trading without understanding is very risky. You should use your own knowledge. Is it not stupid to depend on a bot to have your own intelligence? It is better to keep laziness away in these tasks.

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