Topic: Trading with bots - page 3. (Read 546 times)

Still yet to trade with bots ,Will try and use one of the trading bots on kucoin these year to see whether it will be very profitable or not .I am also going to use the spot trading Grid  cause according to my research it is more profitable and contain less risk than the futures Grid . Will also give my Feedback here after i have used it .

You should really be at least on how bots do work rather than on making up some conclusions on which it isnt really that right on some point on which bots are that really that useful?
You would really be able to see its relevance on the time that you would really be going out or not in front of your PC. It do really just that matters on how knowledgeable you are on making use of those bots.
You could really be able to utilize its main functions and purpose on which it does bring up that huge convenience specially into a trader who arent that always in front of his PC
but of course you would really be needing to adjust accordingly if ever there are sudden market event which could changed up the trend on point.

Yes, we cant really be able to fully rely on it but its not something useless that you are trying out to elaborate on here. It is really just that there are those people who are really that
having those impressions and insights on which because of lacking knowledge it turns out that their reasoning is shit.

The only bot i have used till now is a grid trading bot and i got an amazing result. I have developed a simple strategy to use this grid trading bot to make a profit, which worked well. I have used it only a few times so the strategy is not that battle-tested right now so I don't want to share how i am doing it. There are other useful bots like trailing stop loss and DCA bots that can be very useful if you know how to use these bots correctly. Be a master with one bot and you don't need to watch the market all the day to find a perfect entry.

I would say never trade with bots. You will not receive any accounting of your investment. If you use bots with information from various social media, you will lose your capital. First learn to trade well then trade by yourself. That would be the best.

A single rejection candle, even across multiple coins, could be noise or a shift in momentum. It's crucial to avoid overreacting. I would consider larger timeframe trends and confirmations before trading decisions. I also suggest using the hourly chart along with the 1-minute chart for trading decisions instead of just scalping on that one scale. Of course, scalping itself is pretty risky on principle.
Bot prevalence in altcoins is likely, highlighting the need for an excellent strategy. Automation can be helpful, but thorough research and understanding of different bot types and their limitations are crucial before diving in. Check out reputable resources and consider paper trading first.
I would recommend trying a rebalancing bot. A point to take into consideration is that while bots can do most of the work, I would not recommend leaving it entirely up to the bots. Human supervision is integral especially for the market right now. And if you don’t have the experience, I would recommend investing in funds for you in the market.
Remember, successful scalping relies on discipline, risk management, and avoiding impulsive decisions based on single signals.
If you have any questions you can contact me via my Discord: https://discord.gg/dCvaBZWNcG

Your last statement is the best thing that you needed to do when dealing in this kind of market, find something that fits your attitude from this
business, trading bot may help as it can be setup while you are sleeping and continue doing the trade.

But the catch is you also needed to know and understand how the market may behave in the next hour or day after you setup your bot.

As long as you know what you are doing you may enjoy the service of trading bot, learning how it works may take time you need to keep
doing your research and study to understand it well.

I dont prefer it either. Trading bots can be sketchy and markets are wild. Learning to trade on your own is a journey, takes effort but can be rewarding. Copy trading is an option if you need quick gains and tips from others. Just remember, it's all about finding what works for you

I have had an experience of trading bots, but not actually in the cryptocurrency industry rather in the forex trade. My experience of the trading bot was very horrible and unforgettable. I wish I never knew what trading bots was about, but my personal experience might not actually be the universal experience of what these bots are all about. As a beginner the use of bots in the forex trading had the following effects on me;

• It made me lose a huge amount of money that I could not afford to lose
• It made me develop phobia for trading
• It made me not to understand the basics or fundamentals of trading 
• It somewhat made me to fall out of love with automation 

I see bots as tools to use within a short period of time for a continuous trade that have to be monitored and not necessarily for continuous trading without a human intervention. When you want to stay off the screen for a short period of time just as used stop loss and take profits works.

Dont know on what you do mean on london time or specific time of the day on which we know that there's no way that it could really be affected something like this considering that there's no opening and closing of this market or simply being that 24/7. When speaking about bots then there are tons of tutorials on which you could see on Youtube on different platforms on which you do set up order limits basing up on what are the positions that you do really want for it to execute. Its not really that hard to understand even if you arent that too techy or really not that into technical stuffs on which we know that it isnt really that something that you could really be able to get a grasps on if you are really that serious on learning it. Bot trading is really that convenient i should say but its not recommended for you to make use if you dont really know on how to use it on the first place.

It does really give out that convenience and on point execution of orders basing up on the command that you have set. Not all would really be preferred on using it though but if you are that someone
who isnt really that facing that computer all day long then this tool would really be that best for you to make use. You would really be able to notice for yourself about its relevance
into your trading career or path on which it is something that useful basing up on the condition that you are into.

I would not like to follow bot trading, some of my friends tried in the several top exchanges, but they said it's high risk and they lost in bot trading. Because if bot is implemented by programing code so it will not be work properly in the right time. You should learn trading, now so many ways to learn trade if you search on youtube, so many video tutorials you find.

I do not support trading bots.  It is programmed by certain rules.  It does not understand the volatility of the market. The market situation can change at any time.  I think it can't trade in tune with the market. Trading should be done with your own intelligence.  You will understand the market situation which a programmed bot will not understand.

For me that is not a good way to get profit in trading with trading bot op. Then scalping timeframe is only 1 minute. Why are you a professional trader? because the only people who do scalping methods are those who have a broad understanding of crypto trading.

Have you ever made a profit in scalping with only 1 minute timeframe? and if there is, why don't you at least show an example screenshot here on the topic you made an op? It's still better to do trading in a natural way, that's what you'll always remember.

I would never advise trading using a bot without learning how to trade yourself. Moreover, most of the bots nowadays are flawed. How does a bot work? The bot analyzes the data based on the data they have and then trades based on the expected and unexpected conditions of the currency. Many times you can face huge losses. So I think you gain your own earning power and learn your own trading and then trade.

which means that using trading bots will be more appropriate for traders who are already professional. Not novice traders think that without experience and knowledge, they can still benefit from using trading bots.
Am I wrong in interpreting the situation currently happening around us? Newbie traders think using bots in trading will help them to gain profits. without even having any experience in trading. Isn't this the same as novice traders who just follow the trading signals given on the channel?

There are no tips that anyone can give you since automating your trading with bots is a two step process, first you need to put down your strategy in writing as precisely as possible, and the second and last step is to then write that strategy into a language your computer can understand.

And neither of those steps is easy, as most traders cannot precisely describe what they will do in every single circumstance, and even less traders have the ability to then write this into a code their computer can execute.

Yep, I agree with this.
Some traders also tend to learn how to code so they can start implementing what's on their mind and can save a lot of money by hiring someone to code. And I can agree it is also better to learn on your own so it will be another skill you will learn and later on you can create a bot that what you really prefer and easy to customized or improve.

The ideal way in my opinion is
1. Start trading manually. 
2. Make sure your strategy is profitable. 
3. Write yourself (or order from a specialist) a bot that will automatically trade in accordance with your strategy.

Not all but many traders are using bot to trade especially when they are not around.
What you can do is to start learning how to trade properly and once you’re ok with it then you can start looking for a bot that can work well with your strategy and your own timeline. Using Bot is not a sure profit anyway, its just like automating your trading strategy and there’s still risk.

There are many problems trading with BOTs. We see a lot of comments about bot problems and high risks. I agree with people who say why use bots when we can do it manually? at least we have action in trading and can reduce the level of losses, whatever we do is better all within reach than handing it over to a third party

Would have been nice if you showed us the charts as well. Is it a pattern?

Obviously, some traders use bots. Others just use stop limit orders. There are very many factors at play, such as the funding fee hours. They lead to drastic changes in price mostly for coins with high negative or positive funding fees.

Do you know any scripting language such as python or pinescript? or you are looking for an already built bot?