Types of Trading bots- any detail and how they work? - page 2.

arisatox

member

Activity: 309

Merit: 12

Quote from: AdolfinWolf on January 06, 2018, 09:28:52 AM

Quote from: Mobq110 on January 06, 2018, 09:04:47 AM

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

I'll try to answer your question in pieces.

Quote

How do they link up with an exchange and

Most exchanges have an API which you can "Call" to place orders, or see prices.

For example bittrex's api, -> https://bittrex.com/home/api

Quote

what types of bots are there

There's alot of of trading bots, however the ones that are most known/famous are Gunbot, https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214 and C.A.TBOT https://bitcointalksearch.org/topic/bot-cat-cryptocurrency-automatic-trader-new-price-list-042021-507103

Quote

and what are people using and have they profited well from these bots?

Primarily opinion-based, and as i have barely used any bots myself, i can't really comment on how profitable it is.

Quote

Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark?

I'd say that most people will only use the bot to make things more convient for themselves, but this is also opinion-based. Some people indeed trust the/certain bots more on detecting certain patterns then themselves.

Quote

Are they lead by artificial intelligence?

I wouldn't call it artificial intelligence, (as ( as far as i know) they aren't self-learning) but rather lead by detecting certain patterns/prices/volumes/sell walls etc, which have all been programmed in by the creator.

Ping-ponging for example:, ( which is garantueed to make a profit with a large enough spread in the order book.)

I like your answer but I do not think there is any guarantee because the prices can rise and go down very fast so if you buy there is no promise you will be able to sell for more...

Mobq110

newbie

Activity: 12

Merit: 0

Thanks people I will look into the knowledge shared and especially a system where I do not need to download but works on a website. Much appreciated.

Do you mind sharing on average with an investment of 500usd how much you can make per day?

belphegory

member

Activity: 65

Merit: 12

Hi Mobq.

You can also try out Bmybit which has the Personal Automated Trading System which is very similar to a bot but more intuitive as it has up to 6 simulations\strategies it can run on each pair you want to trade in.

Please use my referral link : https://bmybit.com/?r=124303

I have personally made quite a bit on this system in just the past two months and would recommend it highly.

All the other bots previously mentioned you need to install and run on your machine or a machine but with Bmybit you do not need to as its via their web interface which
is online and running 24/7.

Regards

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: Mobq110 on January 06, 2018, 09:04:47 AM

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

I'll try to answer your question in pieces.

Quote

How do they link up with an exchange and

Most exchanges have an API which you can "Call" to place orders, or see prices.

For example bittrex's api, -> https://bittrex.com/home/api

Quote

what types of bots are there

There's alot of of trading bots, however the ones that are most known/famous are Gunbot, https://bitcointalksearch.org/topic/gunbot-automatic-poloniex-profit-generator-1715214 and C.A.TBOT https://bitcointalksearch.org/topic/bot-cat-cryptocurrency-automatic-trader-new-price-list-042021-507103

Quote

and what are people using and have they profited well from these bots?

Primarily opinion-based, and as i have barely used any bots myself, i can't really comment on how profitable it is.

Quote

Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark?

I'd say that most people will only use the bot to make things more convient for themselves, but this is also opinion-based. Some people indeed trust the/certain bots more on detecting certain patterns then themselves.

Quote

Are they lead by artificial intelligence?

I wouldn't call it artificial intelligence, (as ( as far as i know) they aren't self-learning) but rather lead by detecting certain patterns/prices/volumes/sell walls etc, which have all been programmed in by the creator.

Ping-ponging for example:, ( which is garantueed to make a profit with a large enough spread in the order book.)

Mobq110

newbie

Activity: 12

Merit: 0

I am trying to understand about bots And heard there are bots which can trade for you and give you great returns. How do they link up with an exchange and what types of bots are there and what are people using and have they profited well from these bots? Can you even trust a bot to trade for you as you will have more knowledge of when to trade and at what mark? Are they lead by artificial intelligence?

Thankyou in advance.

Topic: Types of Trading bots- any detail and how they work? - page 2. (Read 328 times)