Topic: Trading bots... do they work? - page 5. (Read 1363 times)

thats true, knowledge and skill also required in setting up the bots, this is why sometime we see some bots that getting the adjusted setting from some professional.
also, if AI is implemented within the trading bots it will be even more massive help towards the trader themselves.
there is also reason why many exchange give some bots feature in their platform because it has been proven to be helpful for many.
so in conclusion these bots are working really well for those that know how to set it up and not many people can do that.

Trading bots would not be invented if they don't work in the first place. Of course they are working but probably at a limited time, unlike trading manually that can offer you limitless profits as long as you have sufficient knowledge and skills to overcome the risks in trading. However, trading bots could only be working if those who operate them are highly knowledgeable and skillful as well.

Yes, it certainly helps but it cannot be reliable to give you consistent profits. Trading bots are programmed software tools so how can these be good for unpredictable market like crypto. This is the reason why manual trading is still the best option. Use your own intelligence and skills, and not through computer related. Trading is a battle of our minds and emotions so it should be done through trading on our own.

Of course, how efficiently this technology can work depends on how efficiently this technology can be managed. If the operator is good then it is possible to get maximum efficiency from a technology but if the operator has no idea about the operation of the technology then it is nothing but foolishness to expect 100% efficiency from that technology. Trading bots are good for those people who can use and manage this technology properly. Since operating a trading bot requires prior experience, an experienced person should apply their experience directly. Trading like a manual even if the machine works well. Manipulation is possible in case of machines but that is not possible so we should do some work manually instead of relying on technology in all cases.

If we want to say the truth to ourselves, the centralized exchanges especially Kucoin that provide bots services know very well that this is nothing but a scam but they will give customers false hope that they can do more with these exchanges and make more money but the truth is that they can't make anything from trading, instead of using trading bots, I will rather trade using support and resistance line than bots that will not yield anything after 30 days.

There was a review I watched on YouTube about these bots, they are profitable and there was a loss too and the total profits and losses were balanced down, the loss was more than the profits and that beat the objective of a real trader in my opinion, in the bull run they gain more profits than the loss.

That's what many are still thinking up to now. When they hear someone who trades crypto, the first thing that will enter into their minds as a first impression is that person is good at making money. Little did they know that many of the traders are having troubles with their own trades and not earning as much as they were thinking. And in terms of bots, they think that these are money making machine but it is just making the trades easier but it's still gonna be dependent to the decision of the trader.

Yes, DYOR and gain more experience if they want to pursue trading. Don't get into unknown bots if you're for it so that you won't be a victim of malware that's injected to unknown sources.

It could be like that, but we also can't conclude everything like that because sometimes bots are also needed in trading, even if only to a limited extent. Because before the existence of trading bots, traders were also quite comfortable trading manually using the techniques they each used in the market, but now traders will certainly see how easy it can be through trading bots. So that they don't use it wrongly because not all trading requires bots.

Expressions like that are quite reasonable, so even if a trader doesn't use copy trading, AI trading, and bot trading, he can still do his own work as before all of that existed like now. This means that these three things are just tools for traders which can be used according to their needs, although it doesn't matter if they are not used because work can still be done as usual.

I am not an active user of trading bots. But I used it quite often a year ago. But I only use trading bots provided by the exchange itself. Like on Binance there is a trading bot feature called Grid. I've also tried some third-party bots. But I think it's not much different from the bot provided by Binance. So I would advise anyone to avoid paid trading bots. Because if you are interested in using a trading bot, it is available for free on Binance. And talking about the actual profit percentage, it depends on our intelligence in managing the bot itself. And I prefer to use bots on trading pairs that are sideways but with pretty good trading volume. Like on Ethereum. But we have to be careful because sometimes bots only display profit percentages as if we continue to make profits. But apparently not. And high volatility is also not suitable for using Bots. But that was my experience last year. So I don't know what trading bots can do now. But I'm sure it won't be much different. And I personally am more confident trading manually than relying on bots. Because maybe I am a day trader. But if someone has another profession such as an office or factory employee who is very busy. So using a trading bot can sometimes really help. But first we have to learn a lot to operate it properly.

It would really just follow on the command or settings on what the trader had set up on which it is really that not that smart on trying out to adjust whenever there's a market news which it would really be the main disadvantage when you do make use of a bot and leaving it there compared when you are really that making some manual trades on which you could really be able to make out some adjustments if you wanted to.
I agree on some words that most people would really be having that kind of impression towards trading bot that this is something that makes them really be able to make profits without doing anything which it is really that a main wrong misconception by many specially to those noobs who doesnt really have the idea on what they are really that doing. You cant really make yourself that profitable even using up a trading bot because the market could really be able to move on a random manner and this is why i do always prefer on manual trades on which you could really make some adjustments if ever there are sudden news but if there's none
then you can leave the bot running and doing its job.It does really make things even more easier i should say.

Why didn't you even state whether you utilize a trading bot? The majority of people are aware that the trading bot is not profitable; the only individuals who use it are those who want to make money through trading but do not wish to engage in actual cryptocurrency trading.

According to my own observations, copy trading, AI trading, and trading bots are all the same; they're just used for the actual trades. This is because it seems like the platform is paying someone else to perform the work we should be doing, so we just pass the work along to them.

I've got an idea. Somewhere there should be a bot which is instantly buying DOGE each time Elon Musk is tweeting something about cryptocurrencies.
100% win rate guaranteed.


Trading bots are not a source of free money. People still need to conduct market research to make the proper settings and control if they are still valid.

Absolutely, none of the trading bots can perform transactions by following the news and detect the importance of the names in the news content. For example, if the scenario in your message occurs all the trading bot can do is evaluate possible price movements and enter a transaction order after the rise&volume increase. Of course, since this is generally the working logic of the trading bot's algorithm it will be possible to enter a similar transaction order in case of price changes that may occur due to volatility.

In another scenario shown as an example, the best transaction bot can do is enter transaction orders by following the words. Again, in this case the words in the fake tweets will again mislead the algorithm and the trading bot will make a mistake and cause the user to lose money. People can think logically and emotionally, but unfortunately algorithm or AI can only calculate statistics and probabilities. This is the most obvious difference between trading bots and individuals following the news. Finally, I would like to end my comment with a word;

Without our soul, we are just machines.

The issue is that people keep thinking trading like a machine would work but the market is an emotional thing that a machine will never be able to learn. Like if Biden goes out and says bitcoin is awesome tomorrow, a machine can't comprehend that, and the price may skyrocket to double its price when it shouldn't just because he said that, a bot would never be able to understand it. That's a big example of course but that's what I wanted to provide a proof that everyone can understand.

Smaller things happens of course, smaller news, but how could a trading bot would understand Elon tweeting about doge would make it go up, that's not understandable for a bot. Market is emotional and software do not have emotions.

I definitely don't use a trading bots because I tried it once before and unfortunately I learned that it didn't really provide profits. Although there are various trading bots and each of them is of better quality than the others unfortunately it isn't possible to say that none of them work perfectly. The trading bot I used made many erroneous transactions, entering SL and TP orders at values ​​like 0.02% causing many positions to be closed immediately when opened and most importantly it was trading between stable cryptocurrency pairs in case the transaction volume increased between them. In addition, during certain periods these trading bots were opening reverse transactions due to the transaction volume in many cryptocurrency pairs which caused losses for no reason. So, I definitely don't prefer using trading bots because many trading bots don't work stably and can be easily deceived. Also, I don't recommend it.

Finally, although the option may vary depending on the preferred trading bot such algorithms generally request permission to perform various transactions on your exchange account. In other words, considering that there are various possibilities such as transferring the balance in your wallet to another wallet even though it doesn't appear in the permission list. There is also the risk of losing the entire capital with the aim of capital growth. Although this isn't the case for every trading bot any damage that may occur due to different reasons will be reflected on the user at the end of the day. In summary, for me making money using a trading bot is a very risky thing and it is a method that carries the risk of losing 30 cents in order to make 3 cents of money. (The amount is written for example purposes.)

As someone who uses a lot of open source (and 100% free) software both privately and professionally, I have to strongly disagree here. There are also enough examples from real life where open source and freely available software works much better than paid versions.

---

Regarding the question of the OP ... you can't expect a trading bot to magically start making money for you. A trading bot executes your given strategy, if it is bad, the results will be bad too. If your strategy works well in a certain scenario, the trading bot will also work well.

Looking for a trading bot to trade with? Why trading bots? Why would you use it when you can trade without having to pay? Unlike the trading bot, you have to pay just to use it. Then another thing I know is that it's better to use copy trading compared to that dude.

Have you tried or heard of copy trading? You can do research or find out on Google Search if you want. I hope you don't waste your money on the trading bot; even though it's your money, it's just a reminder to me.

But believe me, it is better to do spot trading, especially if you are a beginner in this industry. This is a better practice than a trading bot.

And that is the correct way to use a bot, newbies believe they can simply buy a piece of code, run it and enjoy the profits, but such a simple bot cannot exist, as if it did then the person selling such bot will be giving away the opportunity to make millions just to make a few dollars.

So anyone that wants a bot to trade on their place needs to learn how to trade on their own, they also need to learn how to code and finally they need to express their strategy in such a way that the computer is able to take the same decisions they would have taken, not an easy task if you ask me.

As far as I know, there are many ways that everyone involved in the crypto market wants to trade, one of which is trading bots or often called trading robots, in fact the bot method has advantages and disadvantages in the trading bot method.

I have done the trading bot feature, but the results I did were much better with the spot, margin and futures methods, but of the three features the one that was more profitable for me was spot, the first comparison of trading bots: The bot feature is more expensive than spot, and in my opinion bots are not suitable for use in the crypto market, because as far as I know the crypto market moves fluctuatingly, where crypto price changes from the upward and downward side are based on graphical movements, bots do not work well and if users use trading bots they must have skills and be professional, especially for beginners, this is very risky.

For this reason, trading bots are not as easy as we imagine, there are frequencies that must be understood before doing it to achieve maximum results, otherwise it will bring losses to those who use the bot feature.

This is what newbie do really believe on on which they do really sees those bots are really the ones who do help out on making profits to those people who do make use of them which it is really that very wrong kind

of approach on which bots are really for automation just like on what most people been saying about.It do really just turns out that there were people who are really that believing into those false information
until they would really be able to prove out for themselves on whats the reality of it.  Trading bots do really give that convenience for those who are really making use of it and just like me
on which it do really loves to make use of trading bot because it do really follows on what you are setting into those commands.

You could freely go out and wont really be checking your trading open positions because the bot is doing that for you and thats why
it is really that a great convenience for these tools to be created because of such function.

Bots only work if they use a historical pricing model, which almost none do because you need special code to process the data volumes, even if you find one which is what I use you still have to maintain the exchange connectors, the data feeds, monitor which pairs are the most profitable, move balances between pairs, it’s a job but it you get it right fully worthwhile.