Topic: What you really think about trading bots? - page 3. (Read 1412 times)

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.

I dont believe that this is the reason because bots are created on making things to be automated and its not that people doesnt trust up their skills or believe on their abilities because its not really something
that would really be patching up those lacking things because it was never intended for that in the first place.Just like others been saying that it is for automation which it would really be that relevant for someone
who do really make use of it just to make things even more simpler and convenient.It is really just that there are people who are really that having that wrong belief or mindset that these bots could
bring out or generate some profits which is really a wrong common misconception with these bots.You would be still needing up that skills and knowledge towards trading for you to be able to efficiently use
of these bots.

why are there bots? because there are still many who don't believe in their abilities, so bots are used to be able to provide assistance. Logically, the maker of a bot system, if it's really good, why not just run it alone. why release it to the market, because they themselves also do not believe in it but hope to benefit from using it.
agree with you buddy, I also don't like bots because they don't hone skills that we might be able to use, but once again it all depends on each individual and no one can prohibit it but only to encourage it.

When it comes to the markets there is nothing that can guarantee you that you are going to obtain profits with every single trade that you make, and if there is someone out there making those kind of promises then you know they are a scammer.

The main advantage that a bot offers is their ability to trade 24/7 all days of the week without any rest while implementing your strategy exactly as it was coded, and this advantage while it may seem small is very powerful, because if you coded a good strategy into your bot it can literally make you money while you sleep.

That is the usual reason I heard from most traders, they are not interested in these bots as they are not comfortable using them. For now, I haven't heard any that proves how trading bots work and how it efficient it is, otherwise most assumptions are right.

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I'd see that most of us have no experience in bots and this is because it was not clear to everyone the help it gives to us, especially for pro-traders.

I dislike bot, using bot for trading is like stress for me, the way I'm seeing it from my way of understanding, bot i do hear some people say of the advantages of using bot app, but the way i do see bot application, nothing serious or advantages that will come into bot application, so instead bot application do consume  funds through the rechargable fees, so people i know do complain of the subscription of the bot,  so it's discourage able to me.

Having the power of a robot is a key factor in making a profit in this method. You still need to be a great trader just like everyone else said, but you need to realize that 7/24 trading power gives you a lot of chances.

Someone who knows how to trade can check the charts for only so long, yet someone who teaches their robot to trade, they could have 100+ pairs all checking a possibility of a trade for 7/24 forever? That would give you power beyond measure. Of course if you are a moron then you will have a bot that is 7/24 a moron and that would hurt you lol. I am not using exactly because of this, because I never trusted myself to be a great trader, I rather keep holding.

And that means we still have to pay attention to the market and immediately replace or change the adjustments in the bot if the market reverses. This is not an automated process that we want because there is still something we need to do and if so it is better to trade manually than using bots. Settings in the bot can only work when market conditions are going well, but as we are experiencing right now, the market can change direction quickly without us realizing it. If we are late changing the adjustments, we can lose opportunities and lose money. And that is why if you don't have any skills in trading, you should start learning and try trading to improve your analytical skills.

Bots cant make out those adjustments which means that you are the ones who would really be the ones to make out adjustments which is something that you must do.
If you are just trying out to make use of the same bot settings then you would really be losing out a particular trade or you would really be having negatives.
Some people do really just believe that trading bots could give out guaranteed positive results which is not.

Therefore,you shouldnt really think that this do really work on this way.Bots are for automation and you ant something able to entrust 100%
on your capital.

That's because there are some adjustments that we have to make to follow market movements. And usually, once we've made our adjustments, we leave the bot to do what we want. But unfortunately, the market will not go our way and will move on, and that's where we need to readjust the bot.

Traders using bots might benefit, but I don't know how long they can use them. I suggest learning more about trading analysis skills because if we can analyze properly, we can profit, regardless of market conditions.

Trading bots won't guarantee you a profitable transaction every time; otherwise, everyone would be using them. Additionally, you shouldn't let your guard down when employing trading bots because you never know when they'll result in a significant loss for you. Additionally, a trader who overly relies on bots may lose the enjoyment of trading and become a trader who stagnates or shrinks. Bots are useful, but you should avoid growing too accustomed to them.

I know some of my friends who are all into both self trading and bot trading. It is kind of diversification in their view as results from cryptocurrency trading is not always same. As per overall performances by manual and bot trading, some of my friends shared like they are able to end up a month in profits which helps them to live out of cryptocurrency trading.

Unlike most other markets in this planet, crypto markets are having long bear market which could be the reason why manual traders are not successful yearly basis. When it is all about balancing your trades across different market conditions then I guess going for bot trading along with your usual trading will help somehow in my opinion as well.

Those experienced traders won't really use bots, but those newbies who are just starting their trading journey are more likely to try this since they want to take a shortcut to earn immediately, but again, the results are not good. As far as I can tell, there are only free trials for bots so that the buyer can see if it works, and if it does,they will then need to pay for a monthly subscription or a one-time purchase.

There are only a few people using trading signals who are experts; mostly, they will be checking the analysis of other traders and trying to confirm it with their own ideas, but most of my friends only rely on themselves when they trade, and I too am influenced by the predictions of my friends.

Trading bots must be paid to use.  There are no free bots available.  And if free trading bot is available somewhere then it will not work accurately.  So using it is not believed to be very useful for prediction . So trading bots are mostly used by those who have the most funds to trade and buy bot subscriptions. But on the other hand many people don't use bots despite having enough funds.  They prefer to trade manually with trading signals from paid channels

On someone who do sell out those bots and making out some assurance then it is really something deceiving since it cant just possible on having this way.There's no way that bots could assure out profits.
It is really just indeed for automation but there are people who are really  that expecting something like this which is totally absurd.Its true that mostly newbies or noobs on this trading world are the ones
who do have this kind of belief on mind but sooner or later they would really be able to realize on whats the truth because this isnt how it works.
Bots are for automation and not something that could bring up profits without doing any effort.

This is their preferred business. To create a bot and then sell a copy of it for public use so marketing is important for them so that their bots can be reached out by many people. Now, given that bots can automate our trading strategies then they really can provide us a passive profits because we can just leave them running in the background.

You can even make money by using them while you are sleeping but of course that is if our personal trading strategy that we set inside the bot is also effective. The trading bot providers must only be transparent and tell the truth that bots like this can't do a magic so that newbies will not hope too much on them.

Trading bot is very useful if you already know a trading strategy that works. For example like arbitrage, which need to be executed fast and constant monitoring of markets. The arbitrage chance is very few and hard to come by especially within the same exchange, so some will do cross exchanges arbitrage, which is more tedious, because one need to move funds around. In this case bot is certainly needed. A human is not possible to monitor the markets 24/7.

Another better strategy is to trade the perpetual future spread difference across different exchanges, also call "spread trading", where one trade a perpetual futures pair between two exchanges and profit from the convergence and divergence (or widening and narrowing) of the spread. Example: When the spread is widening, one will short on Exchange A and long on Exchange B at the same time. One will then wait until the spread is narrowing and exit the positions by doing the reverse operations, thereby profiting from the spread. You actually don't have directional risk here.

This is a complex strategy, you need to take into consideration for the funding rate as well not to mention you need to calculate the price fast, have very fast fingers ready to click long & short on both exchanges and high concentration at all time. So, having a bot actually help me a lot trading with this strategy.

Cheers.

Trading bots served important purpose for traders in the space. Trading bots are accurate but they come with fees, they're not free. Sometimes they failed to take profits when the TP is triggered in a trading position. Bots don't fixed the error they omit and they're program machine which served the purpose of the moderators of  trading exchange. Kucoin trading bots is accessible and easy to place trades, they have their certain targets for the day and also make fewer losses over the week. Although ivet not try trading with bots but with the proper knowledge, it's simple to grab profits.

To be honest, I prefer to trade manually. For some reason, it seems to me that this version of work is more effective, and can bring more positive results.

I am not used to trading by trading bots but I have heard that trading bots are able to complete an accurate trade. And a bot can work several times faster than humans so it protects a trader from big losses . Now various exchanges are also launching their own trading bots.  For example kucoin has trading bots on their exchange by which a user can trade with the help of that bot . But I personally am not used to trading by trading bots and I don't have much experience in it