Have you ever used Trading bots?

[Findingnemo]

I read all the replies, thanks for your opinion but I want to clarify something, the purpose of this thread is not to prove using Bit for trading is profitable. I am just trying to find who all are using trading bots in the community which is why I mentioned myself that I didn't need one because of my trading style.

But everyone has different way of doing and most day traders have one because it's only possible via automation of trades to get advantage of every market movements.

[Crypto Library]

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

Actually I am not a professional trader like who knows the technical analysis well as far as I do most of the time long term investment on cryptocurrency so in my personal point of view I don't think anyone who were in same condition of mine those need any trading bot.
They can shortly use the Binance exchanger as you know it is the top top  centralised exchanger in the crypto space. I have done my mostly trading in this Binance for exchanging any of currency it will gives the extra features that will be also the cause I will not need any of trading bot. Even then trading bot will be only for those who were professional trader who knows the technical analysis and all the others analysis those can use the trading bots for saving their times.

[Faisal2202]

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.

I can't agree more with you, as I also fear the same thing although I have no used any till now but I always stopped when those trading bots asked me to connect my wallet so they could access my funds. And that I can't tolerate as well so I did not practised any of them.

If you don't mind can you tell which trading bot you used, as it can give some idea about how actually they work as I also made a topic on BTT long ago but never get some real replies like some good trading bots suggestions.

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.

What was it? I mean the disaster can you share if you don't mind. I am interested to know hehe

[Rruchi man]

~

I have never used a trading bot, but it is something that I may consider along the line in my trading journey, but so far I do not think that I will depend on it even if I consider it, and any bot that I subscribe to using will be under closed observation and monitoring from me. I will not depend on bots completely.

[Mia Chloe]

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

Trading bot is not for me and never will be. I guess people who use trading bots are lazy traders who refuse to learn the basic analysis of the market which is market structure. I don't even see how hard it is to learn. After learning, all that's left now is for you to master it. It will take time but on the long run, you will be the one to enjoy your hardwork.

Trading is difficult but it makes no sense using bots. Except you are already a pro and you need something to assist you in another regards. But a beginner depending solely on bot is not a trader to me.

[Penlex_Writer]

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

for me i have at my beginners stage,but i choose not to work with bolt anylonger,using bolts doesn’t make you lucky at all times.

[SmartGold01]

I don't use trading bots and do not even want to try using trading bots because it's not good to use them to trade, to me the main purpose why someone should use a trading bots is; when you are having resting time, such as breakfast, lunch or dinner, maybe you decided to go have your bath you can turn on the bots to monitor your trade at that time but when you are back active, it is not good to allow it trade especially those that has large trading capital can easily sweep their accounts so quickly.

[enwi]

I don't use trading bots and do not even want to try using trading bots because it's not good to use them to trade, to me the main purpose why someone should use a trading bots is; when you are having resting time, such as breakfast, lunch or dinner, maybe you decided to go have your bath you can turn on the bots to monitor your trade at that time but when you are back active, it is not good to allow it trade especially those that has large trading capital can easily sweep their accounts so quickly.

Actually, the utilisation of trading bots is one of the incentives to some people, to regulate the trading activities while we are unable to observe the market directly. But there are many things we have to realise about bots, namely, they stay on a course calculated, and do not take into account any real-world changes that occur in the market so important in transforming a business, and that often have to be made by people. The dangers that come with it especially for those of us who have a lot of capital to invest into the market can be so enormous a s the bot continues to push through as it is currently doing. Being fully in control of our accounts and not completely outsourcing everything can go a long way in preventing loss. Bots can assist, but the final burden rests with traders sitting in the cockpit as the best helicopters cannot control what we’re controlling.

[BitMaxz]

The free version of bots such as gekko and zenbot does not have any special features unless someone shares automated strategies that can be used for backtesting, but there are no strategies that you can implement to these free trading bots. Paid bots, on the other hand, do have some feature to copy other traders' strategies or use other built-in strategies that you can later backtest and use if you get better results.

I am not sure if bots are necessary, but if you do not know how to use them, you could lose all of your funds. You should avoid using them because they will not help you make a profit unless you have a target price. However, I believe you do not need those software because most exchanges now have bots.

[Dr.Bitcoin_Strange]

I have never used a trading bot, but it is something that I may consider along the line in my trading journey, but so far I do not think that I will depend on it even if I consider it, and any bot that I subscribe to using will be under closed observation and monitoring from me. I will not depend on bots completely.

Using trading bots has its own advantages because since bots are designed to make decisions without being biased or decisions based on emotions and sentiments. I’ve come to understand that the actual reason most traders encounter problems in their trading is often because they allow their emotions to get in between their ability to make rational decisions and this could lead to mistakes. Although sometimes human emotions can be quite beneficial when making certain decisions in trading so it’ll be wrong to solely depend on trading bots.

Again, always depending on trading bots would deny the trader the opportunity or make him feel lazy to conduct his own research in other to identify and come up with the best strategy that’ll suite perfectly with their personal goals and risk tolerance level.

[omori]

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

for me i have at my beginners stage,but i choose not to work with bolt anylonger,using bolts doesn’t make you lucky at all times.

Depends on the target put, but yeah, doing things manually may be more reliable at times.

[milewilda]

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

You wouldnt be finding it necessary if you are a trader whose really that willing to make full time engagement but if you are someone who do some sort of a busy man whether you do have some day job or some activity and priorities then ahving the use of bots will really be that easing out that kind of stress when dealing up with your trading positions. Most platforms now does have that kind of automation on which i could say that it is really that convenient and everything will be basing up in accordance into your needs because if you do have that sufficient time on doing trading then these bots will be that irrelevant.

[gunhell16]

Maybe if for others the trading bot helps others they just go and use it if there is benefit. Because for me, for me, I have never used trading ever since
I started here in the field of crypto industry to be honest.

Then I was never curious to use or try it, I also didn't pay attention to the trading bot honestly speaking. I have watched its tutorial once but it didn't give me
the interest to actually do it and try it.

[taufik123]

-snip-
Then I was never curious to use or try it, I also didn't pay attention to the trading bot honestly speaking. I have watched its tutorial once but it didn't give me
the interest to actually do it and try it.

The use of the Bot is only optional or for circumstances where you may not be able to fully pay attention to the chart for 24 hours.
But the use of Bots must also be supported by good trading knowledge, because if you only use bots without good trading knowledge, it will only be a tool to waste money, because Bots are also set by the user, not fully automated.

I only use it occasionally, but I use manual trading by doing technical and fundamental analysis.

[Dr.Bitcoin_Strange]

Maybe if for others the trading bot helps others they just go and use it if there is benefit. Because for me, for me, I have never used trading ever since
I started here in the field of crypto industry to be honest.

Then I was never curious to use or try it, I also didn't pay attention to the trading bot honestly speaking. I have watched its tutorial once but it didn't give me
the interest to actually do it and try it.

Yeah not everyone actually likes or entertains the idea of using trading bots or relying on automated computer programs to make financial decisions for them, because these are just machines and there can be technical difficulties and should incase this happens, and you’ve entrusted the bot with a huge financial responsibility, things could go wrong and you lose all your funds. This and many more could be the reason why most traders would rather rely on their own personal skills and experience.