Can Trading Bots be trusted.

[Minihustle]

A few of my friends have floated the idea of bot trading to me recently, granted they are doing this because they want to take part in a trading bot event. But I see the appeal with bot trading.

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

The event entails running futures bot trade for tokens like EIGEN, CATI etc, and I'd like to know how efficient the bots are with trading lesser known projects.

[Hatchy]

I've not actually traded using any trading bot before. But I guess a time like that I was about to stumble upon one provided by my broker. I guess they work using scripts designed by traders. You can as well create yours based on your strategy and it will automatically place trades for you while you aren't available. The truth is that trading is very risky and we are taking about real money here so I won't want to be risking too much with a bot on my real account. Its best to take some time of if you know you won't be able to trade and not trusting your money with some kind of bots.

[bayu7adi]

For those who use the original bot, I have never used it... but I have used the trading automation feature with the copy trade feature on binance.... from the client's point of view, the mechanism is almost the same as using a bot, but from the management side it is different... the most felt thing is, I am no longer affected by emotions that always make trading chaotic, but it makes me dependent... even though it can generate a profit of 1% to 2% every day, it really makes me too dependent on the automation... until finally I ended the activity...

Bots may be good for some people who are lazy to learn, or may not be confident in their analysis... however, we also trust them easily, because entrusting money to other people we don't know is a risk for us.

[Rruchi man]

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

If you allow your bots to operate 24/7 without monitoring it, there are some organic changes in the market that they would not be able to react to, which may then lead to some kind of unexpected loss. Bots can make trading easier, but using them does not still guarantee success in trading. That is why it is necessary to have knowledge first before starting to consider using bots in following up the market.

[erus]

~snip~
It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.
~snip~

For trading in crypto I have no experience but I see that trading using BOT is very dangerous. You also wrote that this BOT operates 24/7 and it is likely that the error rate is also very high during the same time 24/7.
This BOT is a system created by humans and to facilitate human work but if there is an error then it will harm humans too, moreover this crypto trading is very difficult to predict to go up and down. If the BOT experiences an error when we sleep at night from 1 to 5 in the morning then it is likely that our assets will also be destroyed due to the BOT error.

[bitterguy28]

A few of my friends have floated the idea of bot trading to me recently, granted they are doing this because they want to take part in a trading bot event. But I see the appeal with bot trading.

i also do understand how trading bots can be useful but depending on it completely would not make you very profitable i think it can be good for minimizing risks it can also be useful if you are unable to monitor your trading all the time of course the efficiency and security of these trading bots would depend on the platform

The event entails running futures bot trade for tokens like EIGEN, CATI etc, and I'd like to know how efficient the bots are with trading lesser known projects.

i think it is good to do it with lesser known projects first especially these kind of projects are very time sensitive and a bot can be very helpful in that regard

[taufik123]

Now there are various types of trading bots and because of the memecoin hype song, Solana trading bots via telegram are also in vogue.
Safe or not can be seen how other users judge and there are usually more members still in the bot.

But it is necessary to be careful, do not put all your assets on the bot, just use the capital that is only for trading on the bot.
If you do make a profit, withdraw or transfer it to another wallet.

[SmartGold01]

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

If you allow your bots to operate 24/7 without monitoring it, there are some organic changes in the market that they would not be able to react to, which may then lead to some kind of unexpected loss. Bots can make trading easier, but using them does not still guarantee success in trading. That is why it is necessary to have knowledge first before starting to consider using bots in following up the market.

It's very very essential to know how to trade personally before exploring additional tools to enhance ones trading desire, because if entirely depending on bots to trade and perform some specific functions for the trader then there could be some errors as bots might likely malfunction leaving them to have control over the trade, okay what if using a higher equity to trade does it mean that when this fund are missed placed the trader won't get offset about the lost? No became definitely he would react to it because they are losing huge funds through the bots.

[MrSpasybo]

For those who use the original bot, I have never used it... but I have used the trading automation feature with the copy trade feature on binance.... from the client's point of view, the mechanism is almost the same as using a bot, but from the management side it is different... the most felt thing is, I am no longer affected by emotions that always make trading chaotic, but it makes me dependent... even though it can generate a profit of 1% to 2% every day, it really makes me too dependent on the automation... until finally I ended the activity...

Bots may be good for some people who are lazy to learn, or may not be confident in their analysis... however, we also trust them easily, because entrusting money to other people we don't know is a risk for us.

Trading bots are a sensitive topic within the trading community as they can spark endless debates. Those profiting from bots will continue to use them, while those who have experienced losses or prefer not to rely on computer programs will persist in learning technical analysis and trading independently. We're under no obligation to conform to others' preferences, especially when it comes to investing.

Personally, I don't hate trading bots, but I also don't use them. I could create a bot quite easily, but I lack the patience to test which trading strategies yield the highest returns. I'd rather allocate my time to more important endeavors while continuing to DCA and observing the market over the long term.

[Crypto Library]

A few of my friends have floated the idea of bot trading to me recently, granted they are doing this because they want to take part in a trading bot event. But I see the appeal with bot trading.

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

The event entails running futures bot trade for tokens like EIGEN, CATI etc, and I'd like to know how efficient the bots are with trading lesser known projects.

If you think that a bot will automatically trade 24/7 and bring you a good profit or earn profit all the time then you are wrong. Because the main thing of trading depends on psychology, like we buy any product or daily needs in the market through negotiation or the shopkeeper sells, similarly there is a psychological thing that works inside trading which is possible only for human. So I will never use trading bot for trading. Especially those bots that show unimaginably for exaggerated profits.

[doc]

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

If you allow your bots to operate 24/7 without monitoring it, there are some organic changes in the market that they would not be able to react to, which may then lead to some kind of unexpected loss. Bots can make trading easier, but using them does not still guarantee success in trading. That is why it is necessary to have knowledge first before starting to consider using bots in following up the market.

It's very very essential to know how to trade personally before exploring additional tools to enhance ones trading desire, because if entirely depending on bots to trade and perform some specific functions for the trader then there could be some errors as bots might likely malfunction leaving them to have control over the trade, okay what if using a higher equity to trade does it mean that when this fund are missed placed the trader won't get offset about the lost? No became definitely he would react to it because they are losing huge funds through the bots.

Honestly I prefer to trade manually, without using bots. because I try to use my manual skills so far. Maybe there are friends who use bots but I'm not interested in that. because we also don't know whether the bot will work well or not, because in my opinion if we have the skills to make analysis and predictions by always practicing, it is possible that in the future we can become a professional trader.

[ZAINmalik75]

A few of my friends have floated the idea of bot trading to me recently, granted they are doing this because they want to take part in a trading bot event. But I see the appeal with bot trading.

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

The event entails running futures bot trade for tokens like EIGEN, CATI etc, and I'd like to know how efficient the bots are with trading lesser known projects.

Bot trading is efficient and can automate our trades and reduce managerial efforts but first we have to find a legit and good bot with the most functionality and they are not even free so a cost efficient one must be picked. Many exchanges have built-in bots and they can trade in our place.

We can trade almost any coin on these exchanges and bots on exchanges are efficient but as I said finding the legit one is more crucial and never trust these bots blindly they can also mis function sometimes.

[Gposas]

As for me in personal, I haven't made use of the trading bot in a broad sense but once I tried using it on a trial giveaway stuff on Kucoin, I didn't get any profit from it until the trial expired.
But with the testimonies I hear from newbies that put funds on bot trading, they say it's quite efficient, but I can't tell if it makes loss trades too. Though it is obvious that the bigger your capital, the bigger your profits
But from the perspective of some traders that has knowledge on trading, they testify that nothing is as professional as a person placing trades by himself because you have all chance of entering and exiting trade as much as you can in a day depending on your trading pattern but the bots trade just for some time in a particular day.
But I can't openly relate how efficient, trust worthy and profit oriented these trading bots are.

[Captain Corporate]

As someone who used them and even sold them for a while, I still suggest people to be very careful. Even a great bot software could have a terrible period, the one I used had great times and had "beta" times where things sucked for a long time until fixed, and there were competition that I got for free to test with others and I can tell you, most of them were total shit, and I mean total shit, they didn't even work sometimes. There only a few others which did alright, but even in those, the "alright" part is about being able to work as intended, but never really produced good results for long term. I would say personally trading is better for most people.

[Geey]

A few of my friends have floated the idea of bot trading to me recently, granted they are doing this because they want to take part in a trading bot event. But I see the appeal with bot trading.

It gives the ability to automate trades, react quickly to market changes, and operate 24/7 without human intervention.

The event entails running futures bot trade for tokens like EIGEN, CATI etc, and I'd like to know how efficient the bots are with trading lesser known projects.

I just heard that there is trading using bots, maybe this can help a beginner to start trading so they can learn the market.. is what you said this is a feature so we can learn to trade? if yes, please provide clear enough information so that those who read this thread can learn it.