What you really think about trading bots? - page 5.

AmoreJaz

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Quote from: DoublerHunter on December 22, 2022, 06:14:50 PM

Quote from: palle11 on December 22, 2022, 03:09:58 AM

Quote from: crwth on December 19, 2022, 01:34:46 AM

It still depends on how the market would go and how the strategy you would have set would respond.

I think this is where the missing link is between human and trading bots. Those times that the bots doesn't have the order from you on what to do when that depending on what the market does is not given, the bots doesn't have what to do. At this point the bots is usually left at the mercy of the market.

^ Probably because people expected that trading bots work on their own, it will make money for them without any proper setup.
But still, automated trading bots are useful for me because this will help you to monitor the market price movement when you are in AFK mode or away from the keyboard. The bot will execute your order and watch the trading position that has been set. So you must have your own strategy to set in order to respond to the trading bot. However, I did not use this bot ever since when I was in trading because it is very expensive to purchase one account, I wanted to try but I don't have a budget and now good thing there is free testing. Can I ask OP, is there any discount this season?

bot will only work the way you set them up. so for people who don't know about bots, it doesn't work on their own. you still have to set-up them up for them to work. if you are a user, it would take time before you can grasp the techniques or tips on how to work them better and if possible, profitable the way you want it. so don't expect that after you acquire a bot, you are way to your riches, because it is not.

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Quote from: palle11 on December 22, 2022, 03:09:58 AM

Quote from: crwth on December 19, 2022, 01:34:46 AM

It still depends on how the market would go and how the strategy you would have set would respond.

I think this is where the missing link is between human and trading bots. Those times that the bots doesn't have the order from you on what to do when that depending on what the market does is not given, the bots doesn't have what to do. At this point the bots is usually left at the mercy of the market.

^ Probably because people expected that trading bots work on their own, it will make money for them without any proper setup.
But still, automated trading bots are useful for me because this will help you to monitor the market price movement when you are in AFK mode or away from the keyboard. The bot will execute your order and watch the trading position that has been set. So you must have your own strategy to set in order to respond to the trading bot. However, I did not use this bot ever since when I was in trading because it is very expensive to purchase one account, I wanted to try but I don't have a budget and now good thing there is free testing. Can I ask OP, is there any discount this season?

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Quote from: palle11 on December 22, 2022, 03:09:58 AM

Quote from: crwth on December 19, 2022, 01:34:46 AM

It still depends on how the market would go and how the strategy you would have set would respond.

I think this is where the missing link is between human and trading bots. Those times that the bots doesn't have the order from you on what to do when that depending on what the market does is not given, the bots doesn't have what to do. At this point the bots is usually left at the mercy of the market.

When using up a bot then it is really that understandable that you are really still needing to make out some tweaks or changing up some command for whatever market condition that you might faced on.
Bots cant really be having that automatic learning or something that could act on their own without having those proper settings that had been commanded out.This is one of the misconception
specially to those noobs that they are believing that this is something that could help them out on becoming profitable here on the market which is really
very wrong. You do still need to get engage on while you are using up these tools.

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Im try to open your site but the cloudflare show about Error 520: Web server is returning an unknown error.

Personally I have tried trading bot from Spot to futures bot. The spot bot (I forgot about the name of the bot) do buy and sell but they take to long to get action (I Know they are wait the right moment) But in one week only 1-2 to be executed with this bot and with $100 initial capital you only get 1-3$ profit Lips sealed

The futures bot (Im using finandy) basically this bot do execution when there is signal from trading view and then fire up to Exchange API. but after 2 week of using this bot I'm loss 200$ and this not because the bot but because my trading view signal was not accurate enough,

this why I'm little bit sceptic about trading bot.

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The main problem with trading bots is that they artificially change the trading volume, which leads to misjudgments about the awareness or popularity of a cryptocurrency. Depending on the trading platform on which the coin is listed, this effect is smaller or larger.

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Quote from: Adbitco on December 21, 2022, 09:35:14 PM

Most at times trading bot are fine but are very risky ( not for beginners) to start with at least as a trader having your self knowledge and good skill on how to trade would have been more better than using bot, i actually don't encourage bot while because they have some limited command and sets of rules which they could maximally operates as bot but being a trader him or she should be active and consistent to watch over the market maybe if the bot fails you could likely pick corrections to avoid being swiped off.
Note they are not human who reason Quantitatively rather to only their sets of command, is just like a tools to assist you whenever you are away for the moment so you don't have to be 100 percent sure of it.

IMO you are 100% right by saying that such tools are not for beginners rather only for expert traders. Only experienced traders should go for it and they are in better position to tell whether they are worthy or not. These days AI based trading bots are available that can do trading like humans (not sure up to what extent they can act like humans).
I would say use them only while you are away not rely on them 100% for all of your trading. If bots can give profit then whole trading industry would be relying on them.

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Quote from: crwth on December 19, 2022, 01:34:46 AM

It still depends on how the market would go and how the strategy you would have set would respond.

I think this is where the missing link is between human and trading bots. Those times that the bots doesn't have the order from you on what to do when that depending on what the market does is not given, the bots doesn't have what to do. At this point the bots is usually left at the mercy of the market.

EarnOnVictor

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The first time I heard about trading bots should be running close to 2 decades now, but they don't actually work. While the working ones might not worth it much since they will not earn much for you in the long run. There are many trading bots these days with many promises, but in the end, they tend to lose the money of the trader.

Let me categorize them as bad, ugly and good. The bad ones will start losing your money from the beginning until it ruined the account. But the good ones will preserve your account and earn for you, only that the money earned will not be much to be happy about. While the ugly ones would win for a period of time, but will later lose your money for you. It will only raise your hope but would fail you in the end.

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Most at times trading bot are fine but are very risky ( not for beginners) to start with at least as a trader having your self knowledge and good skill on how to trade would have been more better than using bot, i actually don't encourage bot while because they have some limited command and sets of rules which they could maximally operates as bot but being a trader him or she should be active and consistent to watch over the market maybe if the bot fails you could likely pick corrections to avoid being swiped off.
Note they are not human who reason Quantitatively rather to only their sets of command, is just like a tools to assist you whenever you are away for the moment so you don't have to be 100 percent sure of it.

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Quote from: crwth on December 19, 2022, 01:34:46 AM

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?

I once told my friends that they use trading bots, and that is free. They say it's effective and it's been working for a few months. If it doesn't work anymore, they will try other trading bots again and do trial and error. But here, they already have skills in daily trading, analyzing the market, and also making use of these trading bots to be effective. from their story, trading bots might be really effective if the users really understand at least the three things above. Also, trading bots, especially the free ones won't work forever, because sometimes the algorithm changes too. So, each trading bot will have a different level of effectiveness. But for myself, I've tried it and it didn't work, because I really don't understand it properly and it's still trial and error but it always fails. So, I will not continue. Maybe it would be better if it was actually paid and there was a guide. And trading bots will not guarantee that we will always earn money and get profits.

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That's where newbies got it wrong and I think even investors that have been long in the market, some of them think that it works like that.

They think that it will generate profit no matter what they do and it's an automated money generating software and you just have to pay for it. That's the wrong notion here, they don't know that it's still them that will decide for what the bot must do in order for them to generate profit from their trades.

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Quote from: crwth on December 19, 2022, 01:34:46 AM

^[snip]
What do you think about trading bots in general?

Well it is totally wasting of time and money, trading bot is just a tool for me and can command on behalf of you.
I will use this trading bot if I am a full-time trader but if not, does not make any sense to use. But you are right, this trading bot was not designed to make money, it was designed to help you to watch the market, and execute trades while you are not watching the market and that is how trading bots work. I also saw people here posted about trading bots that promised they will surely earn but in fact --it is not true.
If you have extra money, why not but if you don't have --this is not necessary the most important is that you have capital in trading.

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Quote from: yhiaali3 on December 20, 2022, 07:32:31 AM

I tried some bots for trading, but in reality I did not get positive results, but honestly I only tried free bots, whether they are on some centralized exchanges or those that have programs installed on the desktop.
I setup everything well as recommended, but in both cases I didn't get good results as expected, I don't know why? Is it because I use free bots?

Do paid bots give good and guaranteed results? Most importantly, is it safe?

It was never intended to give out positive results into your trading because bots are for automation of trades and not something that could generate profit or income into you as a user.You would really be still needing to

make out some strategies or settings on which you could really set up into your bot for it to be at least following on what you had commanded into it.People do really have that kind of misconception which is really that
very wrong because if we do speak about bots then it is really just that helpful when you are away from your pc but not totally replacing someone to make out profitable trades.
It would be still varying on how well you do make your trading decisions that you had just made out.

Mr.right85

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Quote from: crwth on December 19, 2022, 01:34:46 AM

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.

It's hard to give accurate response to what you aren't directly exposed to or using as my case would be but, what I know of AI is that, they function based on what set of data you've fed them with except in cases of malfunctions else, thy could remain accurate.
Staying accurate don't necessarily mean, you would be more on the profits as opposed to lose. There is still room for either of the outcome at any point as, some programmings are centered on cutting lose or taking profit.

One thing the bots might do for you is to put you in more trades than you would have wished for and you might find yourself cutting lose more than you make profits. That sounds like a lose to me. Bots can't substitute for humans so, I dont see it to be profitable.

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Quote from: crwth on December 19, 2022, 01:34:46 AM

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?

I think some of them do work and the only way to find out if they are working is by testing them with small amounts or find reviews on YouTube but even those are faked these days (ever since YT removed the dislike count).

Quote from: crwth on December 19, 2022, 01:34:46 AM

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.

Yeah, I mean I have been looing for years to find a bot that can automate arbitrage trading for me. I would enter my exchanges accounts and the bot can check for any price discrepancy and buy/sell accordingly but I haven't found one yet. Also it's important to make sure the code is open source because you don't want to end up getting scammed by a phishing kind of bot.

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I tried some bots for trading, but in reality I did not get positive results, but honestly I only tried free bots, whether they are on some centralized exchanges or those that have programs installed on the desktop.
I setup everything well as recommended, but in both cases I didn't get good results as expected, I don't know why? Is it because I use free bots?

Do paid bots give good and guaranteed results? Most importantly, is it safe?

Issa56

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I don't really use trading bots to trade because I don't really believe in it, most people that I know that do use trading bots always endup losing money, at the beginning everything might be going well and you will be making money, but it might not last. If their are trading bots then I believe that's what everyone will be using to trade and no one will be losing money again, nobody wants to be losing money.

I always advise people, if you want to be a trader then learn to do your analysis yourself and trade by yourself, don't depend on any trading bots to help you trade, if you you want to stay long in crypto space, then learn to do things yourself and don't depend on anybody.

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Quote from: greengrassis on December 19, 2022, 05:12:32 AM

While working in this industry for myself, I realized that manually the results can be many times better. For this reason, I just try not to use bots for work.

If that's what you do for a living, I think there's nothing wrong with that. If it makes you improve yourself with trading with the use of a trading bot, why not?

Quote from: Maus0728 on December 19, 2022, 09:17:01 AM

I am not an active trader and a trading bot user, but people need to know that trading bots are just a tool that still requires you to have an actual trading plan that you follow religiously.

Suppose you do not have any idea what you are doing. In that case, deciding to use a bot could do more harm than good because, in the first place, it isn't about knowing the bot's functionality alone but rather knowing how and when to effectively use it with respect to your trading plan.

You are definitely right that you need to know a little bit about it. Bots can be a tool to improve and accelerate your learning with trading.

Quote from: Bananington on December 19, 2022, 12:13:53 PM

Trading bots will not guarantee you a successful trade all the time, else everyone will be using bots. Also you do not need to get too relaxed using trading bots because you are unaware the day it will cause you a big loss. Also over dependence on bots can take out the fun in the trading and turn the trader into a trader who doesn't advance or grow. You can use bots, but avoid the danger of becoming too accustomed to them.

I think it would depend on how you set it because if you know the limits of your personal trading, like how much loss you are willing to take, it is easily programmed in the bot.

Quote from: rhomelmabini on December 19, 2022, 12:27:26 PM

I personally don't have any experience with bots as I think it's time consuming to have one works or it's just a hassle in my opinion especially setting it up. It may eliminate the behavior towards trading especially the emotions but with market right now that's is not in good condition and volatility could spike in any moment I don't know if there's really a profitable one.

It's not going to be time-consuming if you are able to set it up for a moment. For sure you need to set it depending on the market condition but once you are done with that, I think it's possible to not configure it for a while.

Quote from: mk4 on December 19, 2022, 12:29:07 PM

Expectation: you purchase a bot, you turn it on, and you make profit forever while relaxing at the beach in the Bahamas

Reality: trading bots (at least the long-term successful ones) are used by active traders to automate some of the trades, and is constantly updated to fit the traders' needs

I agree. Continuous development is the key to adjusting to the current market conditions.

Quote from: Yawa2020 on December 19, 2022, 12:37:26 PM

The problem is that most of the bots are not genuine and were built just to scam traders using them and causing them more losses. Finding a legit bot is difficult as telling btc price in the next minute. So in my opinion, you should learn to use your human knowledge and capacity to trade and gain exciting experience than relying on a bot with your hard earned money.

I think it's easy to see who has an actual working bot and see that it works. Don't believe in bots that promise returns but see something that actually works and has a community behind it.

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Quote from: LogitechMouse on December 20, 2022, 02:55:50 AM

When you heard that term for the first time, you will expect that a "bot" will just simply trade for you and will give you endless profits. You will think that bots will help you not to lose money.

Well, trading bots really will help you trade as it can execute trades faster than a human does and it does work 24/7 but it doesn't guarantee you to give profits. Trading bots might be helpful for those traders out there while executing their trades on their own, but these bots aren't a bot that will not make you lose money. It isn't 100% profitable and there will be times that you might get lose in your trades. Anyway, trading bots are still very useful for some traders out there.

Yeah, I agree but I think there are truly bots which are pre-defined with a working strategy and all we gotta do is to push that trade button for them to work endlessly. Obviously, there is no way that they can guarantee you a secure profits. That will be an easy life for us people if there's such bots that work that way. The reason why is because the market is changing from time to time.

Sometimes it is bear and sometimes it is in bull so we also need to adjust our bots accordingly depending on the market conditions. If there's one thing that a bot can guarantee then that would be to give you a freedom as they can do most of the trading work for you.

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When you heard that term for the first time, you will expect that a "bot" will just simply trade for you and will give you endless profits. You will think that bots will help you not to lose money.

Well, trading bots really will help you trade as it can execute trades faster than a human does and it does work 24/7 but it doesn't guarantee you to give profits. Trading bots might be helpful for those traders out there while executing their trades on their own, but these bots aren't a bot that will not make you lose money. It isn't 100% profitable and there will be times that you might get lose in your trades. Anyway, trading bots are still very useful for some traders out there.

Topic: What you really think about trading bots? - page 5. (Read 1388 times)