In my personal opinion, bots are not profitable, I have friends who have had a very bad time buying bots that trade on binance, and one who got into a big porblame where he owes up to $200k and that is something that is still bad, he has not been able to pay, in fact he has sold his house, farms, car, and he still lacks money, so he has not been able to do much because there are many who still owe him money.
So the bots don't have any impact, I think that AI is a way to do it, although I haven't been able to find it on the web or in a service that does something like this, it would be good to try, because technology is good to take advantage of for everything.
Topic: What you really think about trading bots? - page 2. (Read 1388 times)
Bots are not some kind of magic wands that can magically let the money roll into your account. Bots are great tools with good traders. Without trader's knowledge and experience bots cant do anything. It has quite significant advantages some of them are:
Time: I don't need to sit down in front of the screen and look for opportunities. I mean since bots are on the market all the time, it catches the opportunities that I might miss.
Execution speed: Since it does the execution according to its algorithm, it executes way faster than doing manually.
Emotional Discipline: As most newbies when I first started trading, I ended up losing many times then I realized It was mostly because I was lack of emotional discipline. Traders tend to act greedy, panic, or with ego. That was one of the main reasons why I started automated trading.
So I think bots are worth it. It works for me at least. Tools on their own can’t do anything but help. The platform you will be using for creating your bots is also crucial.
One more thing I wanna add is bots can be used only when you are going out somewhere and can't see the market. Bots are no way human replacement and should be used accordingly. If bots are that much intelligent then whole world would be super rich by now using Bots only. Since AI based bots are rolling out in the market we need sometime to check there result.
Dear OP i like trading bots, As in thr sideways movement of the market trading bots play a profitable role. Bots are good but cant be trusted 100% i can see some exchanges trading bots are fully optimized but ou need to be careful in digital world a small bug can lead to a major loss anyways I'm sure reputed exchanges always use tenets for such product launches and you can feel safe with them. In high volatility Bots are useless.
for those who have tried trading bots and profited it might be good to use them.But beginners still need someone who can immediately make the right adjustments from using the bot.
I've used it myself, but not sure if I'm doing it right. but I'm not comfortable using it. and more interested in trading normally. maybe using copy trading appeals more to me.
I am not satisfied with your argument dear if you know just simple resistance and support levels on the daily chart then there is a no more simple way to trade then AI trading or grid bot trading. Yes, results are slow but results are always positive. So even a newbie can trade with the Bots if he simply knows Support and Resistance levels one thing i would like to add he should also need to be famaliar with how to use the bot.
Dear OP i like trading bots, As in thr sideways movement of the market trading bots play a profitable role. Bots are good but cant be trusted 100% i can see some exchanges trading bots are fully optimized but ou need to be careful in digital world a small bug can lead to a major loss anyways I'm sure reputed exchanges always use tenets for such product launches and you can feel safe with them. In high volatility Bots are useless.
for those who have tried trading bots and profited it might be good to use them.But beginners still need someone who can immediately make the right adjustments from using the bot.
I've used it myself, but not sure if I'm doing it right. but I'm not comfortable using it. and more interested in trading normally. maybe using copy trading appeals more to me.
Dear OP i like trading bots, As in thr sideways movement of the market trading bots play a profitable role. Bots are good but cant be trusted 100% i can see some exchanges trading bots are fully optimized but ou need to be careful in digital world a small bug can lead to a major loss anyways I'm sure reputed exchanges always use tenets for such product launches and you can feel safe with them. In high volatility Bots are useless.
What do you think about trading bots in general?
People talk a big deal about trading bots. But we know that trading bots are just bots. They are programmed and cannot replace experienced traders. They cannot make intelligent decisions as they are purported. Because if they can actually make 10x profits then most people would just turn to them. One other point is that trading bots are not for newbies. It doesn't stop one from learning about trading because to set it up requires some level of skill. For now though, I stay away from it. what you had said and others here that bot is just bot which is for automation of trades and it would be still relying on traders decisions and settings that they would really be putting into those bots.
While you are really that away then these bots are the ones would be executing actions basing up on what you had put into.People should really not make themselves believe which
arent true at all.
What do you think about trading bots in general?
People talk a big deal about trading bots. But we know that trading bots are just bots. They are programmed and cannot replace experienced traders. They cannot make intelligent decisions as they are purported. Because if they can actually make 10x profits then most people would just turn to them. One other point is that trading bots are not for newbies. It doesn't stop one from learning about trading because to set it up requires some level of skill. For now though, I stay away from it. 
A newbie in trading or crypto sees or expects a trading bot as a money making machine where you set it up and will make a profit automatically. Not thinking, if that was the case then a lot of people who came into the crypto world earlier compared to them should have become wealthy by now. Not a fan of trading bot, if I'm a person which is too lazy in trading, i'll do copy trading instead. Atleast I can see the winning percentage of the trader.
Humans have thoughts that can generate profits in an easy way. even though they have found a way to make money, they will continue to grow to try to have an easier way to make a profit. one of them with the work done by robots. but I can't be sure the robot can make you generate profits according to what you want. sometimes all things go wrong.
A trading bot is generally an application by which a trader can make his trading activity easy and profitable. If a trader does not have a good idea about trading, then using that bot in trading can be exposed to loss rather than benefit. Everything that a trader is unable to do manually can be done in seconds with the help of a bot. A trader should know well about bots before using them. If the trader can use bots if they understand the market conditions and expectations and risk factors well, then it can bring good results.
A trader should also have a good understanding of his application. A free application should never be used for such purposes. This will increase the amount of risk and even there is a good chance of losing his money in the future.
I'm skeptical regards trading bots, because if they were profitable, every traders could just acquire the top notch bot available in the market, set it up, and earn passive income from the bot's work. It's not what happens for real, though. And in fact it would be impossible, as they are only bots and not seers. As forum members have related, from the accessibility and interactivity point of views, bots are great, but they don't guarantee profit, and in this case I think it's the most important aspect they fail in achieving.
Nothing guarantees profit anyway, so if you want to test it out and the only thing that keeps you away from it is the fact that you are not entirely sure if you are going to make money with it or not, then you should give it a go.However, the reality is that "will I be able to use it" is a much bigger trouble, because I have seen a million people who fail to use it properly and their stupidity becomes 7/24 thanks to the bot they are using. This is why most people should not use, only the very greats should because their awesome trading becomes 7/24 instead. The guaranteed profit thing will not be real in any way or shape so it's better to not really look at anything else.
Bots can make us feel more at ease and save us time checking and monitoring the chart; however, the question is whether they are profitable. You are also correct in that you must monitor it because there will be time that bot will make mistakes. I usually write scripts for my daily tasks at work because I find them repetitive and boring, and I code them myself, but when it comes to trading, this is not a good solution because I need flexibility, which is why I don't use or rely on bots. It is better to trade manually as you can learn more every day in the market.
I'm skeptical regards trading bots, because if they were profitable, every traders could just acquire the top notch bot available in the market, set it up, and earn passive income from the bot's work. It's not what happens for real, though. And in fact it would be impossible, as they are only bots and not seers. As forum members have related, from the accessibility and interactivity point of views, bots are great, but they don't guarantee profit, and in this case I think it's the most important aspect they fail in achieving.really that dumb to believe into something which isnt really that realistic. It is really just a common misconception about bots where they do believe that it is really that money making or profitable
which it isnt really that true.
Trading Bots are just trading tools coupled together using some indicators or using a trading strategy made by some professional traders in order to help some traders who don't have much of time to Analyze the market or read chart patterns etc. There are some bots that works well while some are not good. I have once or twice traded with bots before , but I may consider using trading bots again due to time saving.
Bots can make us feel more at ease and save us time checking and monitoring the chart; however, the question is whether they are profitable. You are also correct in that you must monitor it because there will be time that bot will make mistakes. I usually write scripts for my daily tasks at work because I find them repetitive and boring, and I code them myself, but when it comes to trading, this is not a good solution because I need flexibility, which is why I don't use or rely on bots. It is better to trade manually as you can learn more every day in the market.
I'm skeptical regards trading bots, because if they were profitable, every traders could just acquire the top notch bot available in the market, set it up, and earn passive income from the bot's work. It's not what happens for real, though. And in fact it would be impossible, as they are only bots and not seers. As forum members have related, from the accessibility and interactivity point of views, bots are great, but they don't guarantee profit, and in this case I think it's the most important aspect they fail in achieving. What do you think about trading bots in general?
I have never tried it. Once I attempted to set it up on Binance but changed my mind.They say I should just keep up to date with the happenings, then do some settings and I could go on vacation knowing that the bots will make me money. Hell no. Maybe I am not too comfortable yet with letting a bit make trading decisions for me. I am yet to be convinced that they can make as much money as human traders can.
But to think of it, do they make losses too?
But things are never that simple, you need to make sure the strategy you have implemented is correct and there are no bugs, and even then you still need to supervise that the bot does not make some sort of mistake, as it could be the case of the bot not closing an open position and then lose money that it was not supposed to lose, and in that respect your misgivings about bots are not misplaced.
Bots can make us feel more at ease and save us time checking and monitoring the chart; however, the question is whether they are profitable. You are also correct in that you must monitor it because there will be time that bot will make mistakes. I usually write scripts for my daily tasks at work because I find them repetitive and boring, and I code them myself, but when it comes to trading, this is not a good solution because I need flexibility, which is why I don't use or rely on bots. It is better to trade manually as you can learn more every day in the market.
What do you think about trading bots in general?
I have never tried it. Once I attempted to set it up on Binance but changed my mind.They say I should just keep up to date with the happenings, then do some settings and I could go on vacation knowing that the bots will make me money. Hell no. Maybe I am not too comfortable yet with letting a bit make trading decisions for me. I am yet to be convinced that they can make as much money as human traders can.
But to think of it, do they make losses too?
But things are never that simple, you need to make sure the strategy you have implemented is correct and there are no bugs, and even then you still need to supervise that the bot does not make some sort of mistake, as it could be the case of the bot not closing an open position and then lose money that it was not supposed to lose, and in that respect your misgivings about bots are not misplaced.
Honestly, I prefer not to use robots or bots for work. Their algorithm is usually quite simple, and does not take into account many nuances.
But, how sure that you are like all the bots are based on only simple algorithm. I am sure that many bot are around here with advanced strategies which might be more than enough to crack profits still losses also possible due to market conditions. I mean that you may not be right to ignore all the bots just for the reason of being simple algorithm based.I heard some people are making use of exchange based bots for trading but not sure about their consistent profit making chances. But, I am keen on listening any success storied on those exchange based trading bots.
Well, according to what I have seen from the experiences of friends, the use of bots has not gone very well for them, let's say, their experience has been very bad and I think they do not recommend it either, and it is something very true if one as a trader gets to give everything to a bot it is very easy for the bot to consume the balance that it has to lose and not get results, even though the algorithm is very good I think that one as a human being should give the bot the most detailed instructions possible, if there is Bots that do everything as advertised on some sites is something that is not recommended, because I have seen how some people leave them bankrupt.
What do you think about trading bots in general?
I have never tried it. Once I attempted to set it up on Binance but changed my mind.They say I should just keep up to date with the happenings, then do some settings and I could go on vacation knowing that the bots will make me money. Hell no. Maybe I am not too comfortable yet with letting a bit make trading decisions for me. I am yet to be convinced that they can make as much money as human traders can.
But to think of it, do they make losses too?
A newbie in trading or crypto sees or expects a trading bot as a money making machine where you set it up and will make a profit automatically. Not thinking, if that was the case then a lot of people who came into the crypto world earlier compared to them should have become wealthy by now. Not a fan of trading bot, if I'm a person which is too lazy in trading, i'll do copy trading instead. Atleast I can see the winning percentage of the trader.
Humans have thoughts that can generate profits in an easy way. even though they have found a way to make money, they will continue to grow to try to have an easier way to make a profit. one of them with the work done by robots. but I can't be sure the robot can make you generate profits according to what you want. sometimes all things go wrong.
Most people posting here probably know that there are a lot of trading bots out there, but does it work? How could you tell if one is working?
Most of them probably have promises that you could gain profit, but that's different. People should understand that bots are told what to do and would react to what they have set in the parameters. It still depends on how the market would go and how the strategy you would have set would respond.
What do you think about trading bots in general?
[Shameless plug] Everybody who has checked out my profile knows I'm affiliated with Gunbot but check it out.
Are you interested in trying it a bot out for free? Check it out on my site https://gunbot.ph and check the Gunbot Trial. You could try it for three days for free.
Most of them probably have promises that you could gain profit, but that's different. People should understand that bots are told what to do and would react to what they have set in the parameters. It still depends on how the market would go and how the strategy you would have set would respond.
What do you think about trading bots in general?
[Shameless plug] Everybody who has checked out my profile knows I'm affiliated with Gunbot but check it out.
Are you interested in trying it a bot out for free? Check it out on my site https://gunbot.ph and check the Gunbot Trial. You could try it for three days for free.
Bots are not some kind of magic wands that can magically let the money roll into your account. Bots are great tools with good traders. Without trader's knowledge and experience bots cant do anything. It has quite significant advantages some of them are:
Time: I don't need to sit down in front of the screen and look for opportunities. I mean since bots are on the market all the time, it catches the opportunities that I might miss.
Execution speed: Since it does the execution according to its algorithm, it executes way faster than doing manually.
Emotional Discipline: As most newbies when I first started trading, I ended up losing many times then I realized It was mostly because I was lack of emotional discipline. Traders tend to act greedy, panic, or with ego. That was one of the main reasons why I started automated trading.
So I think bots are worth it. It works for me at least. Tools on their own can’t do anything but help. The platform you will be using for creating your bots is also crucial.
For work, bots are quite an interesting thing. It seems to me that with the right approach, this can work. But still, I prefer to work manually, this option seems to me more profitable. For work I use a broker from Amarkets, and so far I am very satisfied.
Many newbies believed they could earn quick money by simply trading their money in the market or trusting in a signal from someone stating they could become wealthy by trading at them after receiving incorrect information about how cryptocurrency could change their lives. They must recognize that they are coping with unforeseeable events, therefore we must stay focused and compile all the essential information to be better equipped to trade coins on the market. They shouldn't feel at peace studying the fundamentals because, as you pointed out, even experienced traders lose all of their money as a result of bad decisions they make.
Jump to: