Topic: Trading bots... do they work? - page 6. (Read 1341 times)

They do not work, so there is barely anyone using them as they had to discover firsthand that was the case, but for anyone that uses their common sense it is not difficult to understand why they cannot work, at least the ones being offered for sale.

If you had a money printing machine that you could use legally would you share it with anyone else? I know I wont and I am sure I am not alone on this, so no one will ever share a working trading bot which can make profits regardless of any information you may read about this online.

It is possible to make profit using trading bots, but in most cases we can see that the possibility of loss is high. Many exchanges have such bot systems and people benefit from trading from there. however, if you are a wise person then never use bots to trade like this, rather you use your knowledge. A wise person will never adopt such strategies, rather he will adopt his own strategies so that he can become a better successful trader in the future. That's why I think I will never use a trading bot because there is a lot of difficulty because we will not have the knowledge when we trade elsewhere and there is a possibility of losing our money. If we trade at the expense of our own knowledge and skills in the field of advantage, we will surely gain advantage in the future without any difficulty.

It depends and I think everyone will agree with me saying that, I believe that bots work depending on how efficient and competent the person that will program the bot will, think of scientific calculator, at the hands of a normal student, they will only be able to access functions that is easily presented on that calculator but if that calculator is on the hands of say a mathematician or an engineer, they will be able to use the most out of it because they know the ways to use it and how to navigate the other functions so it's the same thing with bots.

If it is a free trading bot, you should not expect too much to consistently get profits after setting up the trading bots. Because whatever is free, it is likely that it will not work 100% and consistently in the future. Maybe it will work several times, but of course with settings and also our astuteness in reading the market and its potential.

However, if it is a paid one and has good capabilities and is reputable, there is a possibility that these trading bots will help you effectively. However, this is just help, it doesn't mean you can let him do 100% of your trading work. Setting trading bots also requires knowledge, but before that, you also need to have the basics of trading in crypto well and wisely, including various risk management and funding. In this case, it cannot be 100% certain whether paid trading bots will really effectively and efficiently help your work. But at least, it will be better than the free one. It's just a matter of how you can optimize it, with a few notes, and that doesn't mean this is an easy thing to take profits from.

Trading bots can be trusted at some point since they aim to give its users the best result possible. However, since the market is way too unpredictable because of its high volatility, even trading bots cannot give us guarantee that it can correctly predict the market future’s behavior. That is the reason why it’s always safer to trade using our own understanding and skills with crypto trading, and not to rely on third party trading bots as they can’t simply be like a human intellect.

Using bot doesnt mean that it would be profitable which this is really always the main misconception of people on which it is really that very wrong on having this kind of belief.Trading bots are tools which it do automates out

those trading methods or analysis on which means that it could always be in line with someones knowledge about trading. Some though have already set up which you could make use but if you do have that zero knowledge on what it is, then it would really be pointless or useless if you dont have that kind of knowledge and this is why that personal awareness and learning would really be that relevant when it comes to this. Those things do work? Yes it does but it wont really be making out assurance that those things will really ensure profitability and just like been said that this do only automates trades and not something that makes guarantees.

You would really be changing up these impressions on the time that you would really be able to have that actual experience on how this market works and how these trading bots would really be that
relevant on your trading path or career. You would be finding that it would be useful if you are a type of trader who dont really love on spending your time in front of your pc.

You are right, @Sanitough; I don't even believe that any professional trader is relying on trading bots or signal channels; it's usually newbies or beginners that are mostly relying on those bots, which doesn't guarantee a very successful trade. In fact, trading signal groups are full of scams, and whoever is relying on them wouldn't waste time blowing their account. Well, I think there are just some bots that the trader can automate to automatically buy and sell coins at the price that they have set. That can be a bit helpful in the sense that you don't need to stay up monitoring the market manually, but the bot can buy low (as you've set it) and sell high (as you've set it too), which can be done repeatedly.

There is nothing wrong in taking short cut if we really know what we are doing and how to position our trades. There is nothing wrong using bots to trade if the bot is absolutely profitable but it is compulsory for how to know how to trade so that we can predict the market along the way. There are bots that is very profitable if we know how to position our trades and utilize the bot to trade in the direction that we have programed the market to go. There are bots that giveore reasonable profits than qw ourselves trading in the market if we don't trade in the direction of the market.

Yes that's right, trading bots can indeed help but I will say that it will not be completely helpful, every system created by humans must have times when there are errors and other disturbances and obviously it is very likely to eliminate your balance with a blink of an eye without you realizing it. And also besides that maybe I will say that it is only for people who are lazy, do not want to learn and process like traders in general. Trading bots can be an option but it is only for certain times, such as for example you have to keep looking for daily targets but you don't have time to do it because maybe there are other needs, well then you can use it, and I think that's the real use for trading bots.

Because honestly I'm worried that people, especially novice traders, they can feel at ease in their trading activities with this bot, although it may be true that they will not fully know how to run this bot but maybe they will do various ways to learn the bot and that can make them not interested in learning the real science of trading because with only bots they can also benefit there, and indirectly they have made themselves not develop because of that wrong mindset. I think that's not a good option and it's better for them to do it themselves even though it's quite difficult, but you have to believe that you can.

I've used it once, utilizing the Binance API for the purpose. It's possible that each bot operates differently, but I'll attempt to elucidate the bot I once employed.

So, there was an individual who claimed to be a cryptocurrency expert. This person had a technique for copy trading that's somewhat intricate to explain. In essence, they sold a trading bot, promising profits, which, in reality, merely copied trades from a master account held by the bot's seller.

I purchased this bot and experimented with it using a modest sum. The trading history on my Binance account indeed confirmed that when I wasn't actively monitoring the screen, several buy and sell transactions occurred, resulting in minimal profit margins. If aggregated, I could potentially achieve daily gains of only +1% to +3%.

For specific reasons, I decided to discontinue my subscription to the bot. One of my concerns was the potential vulnerability of my balance to unexpected breaches when depositing larger sums.

The bot functions effectively, but as an asset owner, I fear undesirable occurrences in the future.

Trading bit is just a perfect definition to saying that i don't have time to learn how to trade and i want a bot to do that for me while a sit down and make money from it without much cause for alarm, if this had been the real and actual fate of using a trading bot then i see no reason why everyone into trading will not embark in using one, i can see that some people have once make use of a bot and later see there's no profit in it before changing their decision to doing it all alone, now they will have to start all over, let's try as much as possible to see that we know things for real and do them by ourselves without depending on someone or something in doing them for us because nothing of such will last long except we are the source to doing it.

While looking for shortcuts in all cases, I think we should never take shortcuts in trading. It is better to be as self-reliant as possible when it comes to trading. You need to be an experienced trader to operate a trading bot properly though. A new member will not be able to use the trading bot properly even if he wants to. There are financial risks in trading and if we use trading bots our financial risk will increase so it is better to avoid such trading system to avoid financial risk. In the case of trading, if we give ourselves time and try to learn about trading well, then we will know much better about trading. Whether we use trading bots or anything else, we need to be experienced in trading first, only then we can do well in trading.

The results matter on your capabilities as well. Even some users will say "that" it works with them but can't be sure that it works on your side knowing that it is programmable and you are the one who does or might hire someone. And the question is if you are capable enough. If not, you better help yourself to learn more by not relying upon others, as your experience will be your asset and a tool for your success, not these trading bots.

But, in order for you to have an idea of what is trading bots are all about, I encourage you to just try and evaluate results. Then that was the time you could tell by yourself.

Trading bots work. If they didn't these big centralized exchanges won't incorporate it into their system. Binance have a trading bot and others.
Trading bots is not for everyone. You must be an experienced trader and know your way around it. Bots are just machines and like other machines, they lack the trader psychology. If I were to choose between trading bots and copy trading, I'll choose copy trading for obvious reasons.

It was never been made for that kind of purpose or intent, it is really just that on peoples mind and impression on why trading bots does have that kind of reputation or something that really attached

out with that kind of belief that this is something that could bring out some sure profits but of course these kind of mindset do came from into those newbies or who do have recently jumped into this market on where they arent really that minding about the real deal about on things specially on a speculative market where prices could shoot up or down randomly. Trading bots are simply the tools
which you could really make use to automate your trading indicators or analysis which would trigger out basing on the settings that you had inputted. If you dont have the idea on how these bots
should be run or its settings then it would be pointless on making use of it.

People specially those noobs should really be removing the idea that these tools could bring them easy profits or sure money.This isnt how the reality works which you would really be still needing your
skills and knowledge for you to be set-up on those commands that would be inputted on a bot so that whenever it do hit up that particular condition then it would really be moving its own
automatically which it is really that less hassle i should say.

Trading success is never measured on how you rely most often to trading bots or other trading signals group, because in reality your only self is the one reliable to make you successful. Professional traders have work hard to make them well experienced and well skilled in trading, and not because they have to rely for any automated trading bots. Though they work at times, but I don’t see them worth our time and money.

Why are people always running after the use of trading bot then, is it that they are never been aware of the risk that involves in using it or maybe they feels too lazy to start to learn about trading when the trading bot could actually perform the tasks for them, am not sure if it actually pays considering the rate you buy the trading bit and the duration it worked for you before you realized it's no more effective.

Trading bots may actually work but it cannot give you guarantees consistent profitability. Because if they do, then people would not be selling these bots anymore as they could have gained more advantage on it if they will use them personally. However, the reality is successful trading does not rely on these automated trading bots. It’s on the trader’s abilities and skills that made the trades becoming more promising to succeed and make decent profits.

Trading bots are a good option especially for those who do not know how to trade. Helpful for those who are new to the market. To trade you must know the entry point and exit point. You should know about charts. Knowing about indicators and tools is essential. Then you will know when to enter the market and when to exit the market.

You don't need all these things in trading bots, that's why trading bots are becoming more and more popular, because it makes it easy for newbies. Trading bots play a great role especially in crypto currencies where prices tend to move sideways. That is, the price moves up and down between a certain low point and a certain high point. .here grid bot trading is very profitable. Even if the price of crypto currency is increasing continuously, if you do grid bot trading, you can get good profit.However, you should choose a crypto currency that is moving up and down within a certain range.

Trading bots never guarantee you profit, trading with the help of trading bots may give you profit for a short period of time but trading bots never guarantee you profit for all time. In the case of trading, the bot usually works on a specific system, outside of the specific system it will never be able to do anything on its own, so it is better not to directly rely on the trading bot. 
When the trading bot brings you profit once, you will be more dependent on the trading bot, as a result of which later you will trade the bot with more money, but at that time it will be seen that you have lost a lot of money by trading. 

The best thing is to depend on yourself instead of depending on trading bots, that is, try to gain experience in trading yourself. Hope your experience will bring you profit.