Have you ever used Trading bots?

[Findingnemo]

This is just to find the experiences from traders regarding the crypto trading bots, first of all have you ever used it?

If yes, which ones have you tried and what would you suggest to others, either the open-sourced or the paid versions?

And who do you think it necessary to have one?

Personally, I never used it just because I didn't find it necessary for my kind of trading activity

[_act_]

I have also noticed that I do not need any trading bot. I remember one which can help you to DCA even if you do not continue to visit the exchange. They make trading easier. Also there are some designed to make analyses and help traders to automatically open and close positions but I prefer to trade manually. I prefer to make analyses myself.

[Hatchy]

Trading like I will always tell people, is a skill you can acquire just like every other hand skill out there. Depending on bot, that's not trading. Remember we want to make money from trading on a long term. So using a bot, I don't think you will be in the field for long as you barely have time to experience the market it self, which is part of the journey of a trader.

[joniboini]

I used Zenbot and Gekko in the past. I think one of them is no longer updated though, the dev moved to another project or something. You can still fork it if you want to iirc. They are open source so you'll have to set up the algorithm on your own. If what you want is just a simple trailing move order I don't think it's necessary to use them. Most exchanges allow you to schedule your order now. As always, a trading bot is just a tool to make your trading more convenient. If you don't have a strategy that works for you, using one probably won't help that much. It's not a get-rich-quickly tool.

[bayu7adi]

Yes, I have... it's quite easy to use but there is no guarantee that you will continue to be lucky using trading bots.... so even if you have subscribed to the most expensive bot, the possibility of losing is still there...

The scary thing about using a trading bot is when you allow a system to access all of our assets that we deposit... this is a bit scary because the trading bot could end in fraud and our money is lost by the perpetrator...

My experience with trading bots is quite bad... yes, maybe because my emotions are not yet stable, I stopped several bot decisions and I experienced a lot of losses due to my decisions too.

[Azharul]

Trading like I will always tell people, is a skill you can acquire just like every other hand skill out there. Depending on bot, that's not trading. Remember we want to make money from trading on a long term. So using a bot, I don't think you will be in the field for long as you barely have time to experience the market it self, which is part of the journey of a trader.

Actually, we believe that trading is very important for earning best profit from cryptocurrency market. Because we know that if we could be trading carefully, I think that we could be successful. But if we don't understand in crypto trading we must face losses in cryptocurrency market. I don't use trading bot in this time. Because I can't fully trust in this system. Because we know that trading system also depending on our knowledge. So I think that we should be understand in cryptocurrency market and trading system, then we must successful in crypto trading system.

[hugeblack]

If you can't manually trade successfully, you don't need a trading bot, as a trading bot is an automation of your transactions so that you don't need to stay in front of the computer screen or make some quick trades. In both cases, it is an option for intermediate or expert traders. Determining what you want from a trading bot, the platform you will trade on will determine which trading bot is right for you, but in general, gunbot is the best option.


https://www.gunbot.com/

[bitterguy28]

And who do you think it necessary to have one?

are you asking who are most likely to need a trading bot or is it a typo? well anyway for who, if you are a busy person and you still have a day job other than trading then i would understand if you are more likely to resort to trading bots but to be honest i have not heard a lot of people come out and say that they were more successful using trading bots than just trading themselves which is why to me if you have the choice to focus on trading yourself then just do it yourself

[TomPluz]

I once used trading bot in connection with FOREX and everything ended in a disaster though it is partly because of my ignorant stance but later on I found out it was not just me but all others who availed of such a program. Well, in cryptocurrency I decided never - at least for now maybe - to use any bot to trade. However, if there is really a bot - maybe one that is using the most effective AI interface developed for crypto trading - am open to it but if the risks can be so high then I would just wait and see. The idea of a bot can be so attractive as it can become like a passive means of making money but because of the high risks involved we have to be careful with it.

[MUGNIA]

I have never and I don't even know which trading bot is, and I never find out in detail about the bot, just listen when friends talk about bots, and I think I don't really need it because I trade only occasionally and it's only on certain coins

[LogitechMouse]

Re: Have you ever used Trading bots?

I don't use it, and I don't think that I will ever use it at all.
As much as I'm curious with how trading bots will be beneficial to traders, I can't think of any reason why do I need to use it.

I mean I can trade, I can analyze (though not an expert), I can draw lines, and I can use indicators. Those I believe are enough for me to make good trades. Maybe if there's a time where I don't visit the exchange for days or weeks then that might be the time that I will use it. Now, it will not happen as I have lots of time for trading.

[Sim_card]

I haven't used one before, because you need to be a goos trader manually before trading bot can be helpful to you. This si why manual trading is good to that you van learn and have more experience to improve your trading skills. Using trading bot doesn't change anything in the outcome of your trade because you it's what you tell the bot to do is what it will carry out for you.

[gunhell16]

Trading like I will always tell people, is a skill you can acquire just like every other hand skill out there. Depending on bot, that's not trading. Remember we want to make money from trading on a long term. So using a bot, I don't think you will be in the field for long as you barely have time to experience the market it self, which is part of the journey of a trader.

Actually, we believe that trading is very important for earning best profit from cryptocurrency market. Because we know that if we could be trading carefully, I think that we could be successful. But if we don't understand in crypto trading we must face losses in cryptocurrency market. I don't use trading bot in this time. Because I can't fully trust in this system. Because we know that trading system also depending on our knowledge. So I think that we should be understand in cryptocurrency market and trading system, then we must successful in crypto trading system.

When we ourselves are the ones who carry out our trading activities, we can avoid things that are wrong strategies that we can still correct, unlike using a trading bot, once you finish the set-up you will do, for sure if you make a mistake, it cannot be avoided.

Instead, we will automatically lose or our fund assets will be included here. Meaning, what you said is still correct that it is still important that we really
know something about actual trading.

[jeraldskie11]

I have also noticed that I do not need any trading bot. I remember one which can help you to DCA even if you do not continue to visit the exchange. They make trading easier. Also there are some designed to make analyses and help traders to automatically open and close positions but I prefer to trade manually. I prefer to make analyses myself.

Me too. I don't use the trading bot because I don't need it. For me, this is not what I need to be profitable in trading. I also don't trust that because I realize that the market doesn't always repeat itself. So the strategies that may be effective today may not be effective tomorrow. So the best thing to do is really learn trading if you haven't tried it yet. But if you're not profitable and you don't have time for analysis, copy trading is recommended over bots.

[target]

And who do you think it necessary to have one?

There are echanges offering trading bots to its users.
Binance does offer bots in their platdorm afaik, they could be thinking a person who doesn't have knowledge in trading may need it.

I don't use them myself because I'm a long term holder. But there have been many testimonials they made money out of it.