Topic: Trading with bots - page 3. (Read 687 times)

sorry to have to say this so directly, but it's complete nonsense. With statements like this, newcomers to the trading market are tempted to buy bots for expensive money which then execute predefined strategies and promise the buyers incredible profits. It is obvious that this cannot be the case, otherwise all of us would only have such bots running and would be living on a beautiful desert island.

Rather, bots are a tool used by very experienced traders.

Why?
Bots are used to execute your own strategy automatically (and therefore much faster). No more, no less. However, you need a lot of experience to configure and adapt the bot sensibly and to use it correctly. Newcomers definitely do not have this knowledge.

I agree on what you have said.
Did see some article on what bots are really that something that good and relevant specially when you are just starting up.


Cryptohopper
Gunbot
HaasOnline
Trality
Coinrule
.....
and so on..

https://tokentax.co/blog/best-crypto-trading-bot

For me Gunbot would be the best and you would really be able to choose up on what kind of
bot will really be helpful but of course you would really be needing to know on how to make use of it
just like on what been said above.

Its not that it doesnt give out any benefit but it is really just that on how people do really make use of it, newbies usually be having those kind of assumptions that they could really be able to make themselves
make easy money if using up some bots. This is why it would really be that recommended that you should really that know on what you would gonna do. Bots are something useful when it comes on automating
your trades or something that could really be able to make use specially to those who arent that facing up their computer or PC all day. Its something that useful but dont make yourself that
believing that it could generate money or income for you.

Once you do make use of BOT then you would really be needing to configure it out and this would really be requiring that intermediate knowledge about trading.
If you do lack that knowledge then theres no way that you could really able to make yourself that know on how to make use of it.
Somewhat there are some preset up bots out there on which you could make use of.

Don't use bots, that is the best thing to do as they never give you the benefits you expect instead, they only give you a terrible trading experience.
Better help yourself grow and understand real trading by relying on your capabilities and skills. Many traders have tried using bots and have the same experience you have gotten.

I can't say it was the feature of the bots but also personal experience and inputs are a big factor affecting the performance of the said technology. But if we want to reach our goal and gain success, we have to do it alone by simply trusting ourselves and using effective strategies.

If you are a newcomer, don’t think of trading with a bot. Since you clearly said that you need guidance to learn how to trade with a bot, don’t you think that learning trading automatically, even if you will use a bot, should happen later after you have already learned about trading skills, fundamentals, and technical analysis? Then you start thinking of using a bot, even if you will use it, because even the professionals, I can't advise any of them to use a bot because it is not favoring traders. It makes traders lazy. They don't get any updates in the market because they  have already gotten used to the bot that does anything for them.

Furthermore, even with the knowledge of trading, you still need to learn how to use the trading bot because you need to set it up in a way that it will favour you. However, don’t think that if you are using the bot, you won’t lose because losing in trading is a natural thing that happens to traders regardless of how expert you are in the game. Therefore, you have a lot to do in your journey. Don’t forget to invest the amount you can afford to lose.


Yeah, bots don’t help; they have a set for a specific thing, and once they have done what they were programmed to do, there’s nothing they will do for the trader again; they won’t be able to manage the risk in the market, and a lot more, when someone trades on their own, it will be easier for the trader to do so automatically. So when someone does it on their own, I think it makes more sense and generates profit.

I agree with this, before using it we should understand and know what a bot is, how to use it and what time or conditions are good for maximizing trading bots. Keep in mind that trading bots are not always fun, setting errors before the bot runs will affect trading profits and losses. Therefore, we need to find out what kind of bot settings are suitable for current market conditions. Technical and fundamental analysis is also needed here, to determine a trend which plays a very important role in setting up the bot before running.

Just like in trading, there are also types of trading bots. @lombok provided an explanation about it. Despite of it, all of them must have one function and that is to help us automate our trades. There may be lots of trading bots which are also created by a third part and indeed that we won't just use any of them because some of them might be shady.

It's important to be knowledgeable about these trading bots first, so that we will know if what suits us the most. YouTube may be a good way to learn since it's video-based, but I heard many videos there are misleading. We still have our forum here which can offer a better lesson to those newbies in crypto/trading.

Can a bot of trading be done by a common man? because as far as I am concerned board trading is only done by big companies because they have a lot of budgets and it's in the millions.

Dollars are invested for benefits and another thing is that the bot trading they put up, if they invest millions of dollars in what is The token is too high, i.e., suddenly dip from top, which results in a lot of profit and loss for those who are stuck in the middle.

Everything is fine but there are many types of errors that you can suffer when you do bot trading. I don't recommend bot trading but trade with your skills and experience it will definitely make you wiser. When you do bot trading it will totally depend on others and you will be given profit accordingly, that's why such bot trading is recommended in various social media but people who are wise avoid such mistakes. Although trading in altcoins is risky but when you do bot trading it will give you a certain amount of profit but you will not get good skills from here. If you want to trade with experience and skill then definitely try on your own start with small amount gradually you will become a good trader. If you need a lot of money then you can do copy trading just for profit, but if you plan to do long term trading then definitely do your skills it can bring you success in future.

Trading bots can do the work even while you sleep but remember, for me bot not perfect and easy to make money using it. For trading, I do not recommend 100% control using bots, but the execution decision is still in our hands. But, use bots to view market analysis only, this makes more sense. You can lose money if the market gets too wild. Sometimes they can stop working due to tech problems. Plus, strategies that worked in testing might not work out in real trades. So, always run your bot with small budget and full you control.

I would advise any trader not to use trading bots. Because trading bots are programmed in a specific program. Which I think can't really do market analysis. You can lose your assets at any time with trading bots. So research the market give plenty of time and become a real trader. So that you don't need third party like bot as your partner.

Not to burst the bubble for you, but there could be advantage of using bots. As far as I can remember, there is one bot trading program like 🔥🔥🔥🔥🔥[GUNBOT] Trading Bot with 136 exchanges available!!!🔥🔥🔥🔥🔥.

Of course one big advantage is that you can automate all your trading using bot. But there are learning curve in the beginning, and it might take sometime for you to learn it. And yeah, in my opinion, majority of traders are using whatever bot they have in their arsenal. You might want to revisit the following threads,

• Are trading bots worth using in the cryptocurrency trading?
• Trading bots... do they work?
• Profitability of Trading Bots

What I have to say concerning this and the Mostly trading with a bot application is something that is not advisable from my own perspective because whenever you try do it a boat you may likely not to have the profit that you needed when you are trading with manual so that is the difference but people does not know that both application does not necessary give a profit it is better someone to use a mammal to thread than trading with bot application

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