Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Dust Farmer on January 06, 2025, 05:59:25 PM
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What are you guy's opinion on bots? I'm not talking about telegram bots but more of exchange bots that basically automate trading. I've been seeing something about an auto investor that helps to...auto invest, that should be self explanatory. Anyway, the main thing that attracted me was the fact that the product is offering trading for zero fees for a while as well as BTC trial funds and even a whole bunch of USDT, apparently up to 110k usdt. Hence the dilemma, I can't just use it if I'm not sure it's advisable so, what do you guys think about it? Yay or nay? Share your thoughts
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Something that looks legit without even doing any effort with the promise of getting profit, tends to be more dangerous to dive into.... I myself know that with bots we don't need to do market analysis anymore, we don't even need to make decisions... the effort we make is just waiting for the bot to make money for us... but what actually happens is not as imagined, if making money with bots makes a lot of money, Elon Musk shouldn't have to create his big companies....
A demo account to try out bots, it seems like it can be set to win every trade... while you will find a significant difference when you use a real account... I once subscribed to a bot for automatic trading, yes sometimes it does give small profits, but it still doesn't rule out the possibility of losing too. Make sure you are careful when trying out automated trading bots...
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A program that will automate some decision-making and actions for you can be a very attractive proposition but since there must be some risks involved we have to be careful with it. Maybe OP can start experiencing the bot program himself to a less extent so he can be able to verify if it can really be working or not. I am always afraid of bot for now not unless someone can really show me one that is almost flawless and can give us a very good rate of profits.
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What are you guy's opinion on bots? I'm not talking about telegram bots but more of exchange bots that basically automate trading. I've been seeing something about an auto investor that helps to...auto invest, that should be self explanatory. Anyway, the main thing that attracted me was the fact that the product is offering trading for zero fees for a while as well as BTC trial funds and even a whole bunch of USDT, apparently up to 110k usdt. Hence the dilemma, I can't just use it if I'm not sure it's advisable so, what do you guys think about it? Yay or nay? Share your thoughts
Trading with zero fees is a great promotion but if I have more money to trade, I will not use bot. The market's price is determined by supply and demand, therefore as a retail trader we can't control the market, no one can really control the market as long as it not very volatile coin just like Bitcoin. If you trade in Bitcoin, you can't make a strategy that has 90% to 100% which we can tell that the market is unpredictable. So, in the fact that the Bot was made by human who isn't really profitable in trading because if he do, why in first place they make a bot to make money from subscription? He might be profitable but we can't deny the fact that trading is not guarantee to provide our basic needs.
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I have actually never fancy bot trading in any way be it Forex or crypto trading and that's because I personally believe it's not actually worth it. Boat work based on different algorithms and can be taken advantage of plus they don't take any feasible analysis based on experience like a normal human do rather they just speculate direction of the trend based on previous market behaviors and probably fundamental factors depending on how sophisticated the bot is.
If you check closely you'll find out that successful traders are there are not bot traders because you can't understand or gain experience by using bots.
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In fact, the use of trading bots does not always make money or get profits. In day trading, some traders do use trading bots. However, most of them do choose paid premium trading bots, which are known to have a better working system. Remember, paid premium bots do not always guarantee profits, there must be losses too. However, it also depends on the settings of how the trader does it.
Especially if you talk about free trading bots that can be used by anyone at no cost. Hmm, maybe it will work, but the chances? The effort? And the risk? must still be much higher.
That's why the most important thing in preparing for crypto trading is knowledge about trading. Starting from the basics first, to the ability to analyze indicators and the market. As well as, our ability to manage risk wisely. with this, at least we will minimize losses and optimize profits. But, not guarantee 100% always profits with zero loss, NO. Well when you are really ready with all that, then use paid trading bots and indeed premium quality, then it will add cache to increase the possibility of profit, but always of course, not fully 100% always profits. But, more profits than losses more effectively.
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If you don’t know what you’re doing, using trading bots can lead to losses, so the promises of guaranteed profits are more of a promotional promise than easy profits. As for making a profit, you must use a proper strategy, which means you need a deep understanding of trading before using these bots.
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With these bots, I realized that being lazy really is a bad thing...or it really is, and I just realized it now. :D
Anyway, when it comes to trading, I always believe that my decision-making is better than these bots. I thought of using it, but didn't continue doing it and instead ignored it. I mean I have this thinking of "what's the purpose of these trading bots?" if you can trade by yourself. These bots will move based on the parameters the user puts and for me, learning how to read the charts is always the best when it comes to trading.
Despite the 0 fees and some rewards, I will still not use trading bots... at least for now. :)
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I mean I have this thinking of "what's the purpose of these trading bots?" if you can trade by yourself. These bots will move based on the parameters the user puts and for me, learning how to read the charts is always the best when it comes to trading.
There are many reasons to use bots:
You can’t stay in front of the screen 24/7 and consider trading a full-time job or not sleep.
The bot does the same tasks as you, so there is no need for a trader.
Some bots do arbitrage and some trading styles that require high speed.
Implementing a trading strategy through bots reduces the negative impact of emotions.
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There are many reasons to use bots:
You can’t stay in front of the screen 24/7 and consider trading a full-time job or not sleep.
The bot does the same tasks as you, so there is no need for a trader.
Some bots do arbitrage and some trading styles that require high speed.
Implementing a trading strategy through bots reduces the negative impact of emotions.
We have discussed trading bots extensively in the Section Trading, and the trading community remains divided into two camps: those who favor using trading bots and those who prefer manual trading.
The advantages of both approaches are evident: trading bots allow traders to rest and avoid impulsive decisions, while manual trading provides more experience and market knowledge. I appreciate both methods, so if possible, I would create a simple trading strategy and let a trading bot execute it, while I focus on market research and refining my investment strategy ^^
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It's not auto investing, it's auto trade based on the criteria you set.
It must be that you understand it wrongly or it's really a scam.
There's no such thing called auto investing, it has to be done after doing many things so don't waste your money on it, better you learn how to do it on your own.
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It's not auto investing, it's auto trade based on the criteria you set.
It must be that you understand it wrongly or it's really a scam.
There's no such thing called auto investing, it has to be done after doing many things so don't waste your money on it, better you learn how to do it on your own.
I've actually come to understand that there are a lot of things people classify as investment and sometimes these things aren't necessarily investments for example from persons may see the idea of staking some coins like ethereum based on the proof of stake mechanism as an investment while others may see something like buying bitcoins or ethereum as an investment too.
Obviously buying and holding can be seen as an investment but not everyone will agree to staking as an investment. I've come across some auto investments setups on centralized exchanges and I noticed most of them are actually just staking or probably bot trading.
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Anyway, the main thing that attracted me was the fact that the product is offering trading for zero fees for a while as well as BTC trial funds and even a whole bunch of USDT, apparently up to 110k usdt. Hence the dilemma, I can't just use it if I'm not sure it's advisable so, what do you guys think about it? Yay or nay? Share your thoughts
You are getting trial funds to have try at product, so just do it and if you find it useful then continue using it, what is there to lose?
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BTC trial funds and even a whole bunch of USDT, apparently up to 110k usdt. Hence the dilemma, I can't just use it if I'm not sure it's advisable so, what do you guys think about it?
I can't believe an exchange is going to give you up to 100k USDT for a trial. Unless it's a demo or something similar, wouldn't that just mean they're burning money? Where do you get this offer from? If the auto-invest feature is as simple as buying coins regularly and you can opt-out any time, I don't see the harm in trying them. More customizable options would be better. I wouldn't touch them if I need to lock some money, can't opt-out or customize the buying amount, needs to participate for a few months before I can withdraw, etc.
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What are you guy's opinion on bots? I'm not talking about telegram bots but more of exchange bots that basically automate trading. I've been seeing something about an auto investor that helps to...auto invest, that should be self explanatory. Anyway, the main thing that attracted me was the fact that the product is offering trading for zero fees for a while as well as BTC trial funds and even a whole bunch of USDT, apparently up to 110k usdt. Hence the dilemma, I can't just use it if I'm not sure it's advisable so, what do you guys think about it? Yay or nay? Share your thoughts
Which bot is this? I mean, a bot is giving trial funds up to 110k, which is a huge amount. Well, to test the bot, we don't need that many funds. You can test it out with these trial funds. I have heard about these trading bots, but on Telegram never.
These trading bots still have to get a lot of information from the users like the amount, or access to the main wallet, or exchange wallet, and then in which basket we want it to trade with how much risk. I saw these options and features in other bots but I guess the Telegram bot will also have the same features.