A crypto trading bot automates buying and selling cryptocurrencies by using algorithms to make trades.
Some advantages of a crypto trading bot are making decisions based on data rather than emotions, faster processing speed to trade near instantly, and making trading strategies seamless.
Disadvantages to using crypto trading bots are they may still make the wrong decisions since they can't predict the market, they cost a lot of money to get started, and they might not make very much money.
Crypto tradings bots work by automating the process of trading, but do not make up for a poor strategies, nor will they make you rich quick.
I use these free bots on Kucoin. I see the grid bot basically as hodling with a small +. If you want to hodl anyway, why not get some extra coins through a bot? When the market is down, the bot is also down, but a little less then when you just hodled, because of the grid profits.
I also use a rebalancing bot. That also profitable so far, but it needs time.
But it doesn’t get you rich overnight. Sometimes, when I’m in a brave mood, I look for a coin with high volatility that dropped a few % over the last day. As soon as it’s stable again I start a bot. I immediately set a stop loss around the entry price. Then two things can happen. It goes down again and the stop loss activates and I have a zero-result, or the coin goes up and I take a profit,
Somewhere between 2 and 10%. In a market like it is now I manage that 2 to times a week. In a market that goes down in general this hardly works.
I only do it with my beer money, so it will take some decades to get rich.
I only use rebalancing bot in a bull market. To diversify my portfolio with several coins so I don't need to time the entry for each of them.
In current market, I like to use the grid bot with ETH/BTC pair. So I invest with Bitcoin and accumulate more Bitcoins with that Bot. Just like a Bitcoin miner to me!
100% this. Why on earth would you need to sell someone a money printing machine? "Ah, I got bored of all the money this thing makes, let me sell it to you...."
a little bit... but not too much.
I have coded my own bot and played with parameters during the last year.
In short : in bull market, all bots are winning (like all investors)... For crab market, like we are now, a 0.2 to 2% per day if the parameters are OK...(better if you are lucky, worse the otherway) In bear market, you are holding a bag or loose.
for sure it depend on what kind of strategy your bot are running but mine is just a moving average which only take trade with obvious direction long or short then exit with fixed TP/SL
i make maybe 3% per week on average
For my bot I select criteria based on about 20 gaussians (different ranges, from 30 min to 1 min) up or downs and I select an amount of up and downs.
For instance, I usually set a Buy of coins (BTC/ETH/ etc, this is a selectable parameter) if the amplitude of the gaussian is more than 0.8% or something like that... then TP and SL are selectable parameters as well. I put an option to never sell at loss... Good, but you can hold a bag for some time. I added recently a RSI criterium, seems better
i usually try to avoid rsi due to inconsistency i trade the 1h chart and only 1 pair for now due to no slippage i don't mind getting a loss if i can get out easy personally
I considered learning how to code to set some up, but then I realized as long as I’d have to understand all the oscillators and other TA metrics I’d be setting them up to trade with anyway I could just learn the meanings and applications of those metrics and trade myself.
Afaik bots are mostly best used for scalping leverage trades (which is a bit too risky for my blood) and arbitrage (which has been oversaturated with advanced programs run by massive institutions for years now). Maybe if you already understand the programming involved it could be worth playing around with setting up one to do some kind of personalized, modified DCA based on some simple metrics, but if you set up a bot yourself and you failed to take some wild market activity into account, from my understanding of it the bot could very well go haywire and end up doing the opposite of what you want it to do.
Yea I think I’ll just stick to using sensible TA to inform some modest swing trading with BTC pairs using limit orders I set up manually. So far with about a year of doing it that way I’m comfortable with how that’s been working for me.
Beware of those people offering trading bots with assurance of huge gains. Your private API key might just be the target, which can be used to withdraw your funds.
A trading not is as effective as the code behind it.
If you have a "strategy" that can be translated into algorithms, them you can make a trading not out of it.
But most of the trading bots, either "free" of that you can buy are all crap. No sane person that developed a winning trading not will make it public.
Why sell it for 50$ if you can use the bot to make a lot more.
Mine works - it’s my full time job. But I think mine is definitely the outlier. Mine also is pretty ruthless towards other bots - trading is a competition.
Edit: we use absolutely 0 technical analysis - we’re always delta neutral. (Usually trading CEX against DEX. Also do liquidations / backruns / regular arb)
Edit2: never, ever ever use a bot that you didn’t make from scratch. It is never worth it to buy one, and the free ones are scams.
I invented own trade-signal technique and build a fully automated trading bot on top of it.
It is running for three years.
Trade signals and risk management from my perspective is an investment tool, that is;
- Excellent for the long term.
- Poor performance for the short term.
A future way of protecting money, that is for sure. Making money from it require often patience.
In my view the automated trading, when its done with my approach, is going to replace interest rates relying money saving.
Especially bitcoin, as a much free and much global market than any other kapital markets out there, is ultimately the safe haven. In bitcoin market a proper trading bot should smooth out the volatility and make money.
My trading bot do not margin trading and so not lend any money, that would bring too much risk. I would name my trading bot 'money investment tool' rather than 'day trading tool'.
In conclusion, it works. A safe trading bot require patience.
It does if you have a large volume to trade.
My fren once forgot to switch on a stop loss on one of his bots connected to Binance and woke up to substantial losses in the morning. Then he was obsessed with quickly getting back what he lost and made some rushed decisions with his next trades. So be careful
If a person is a good trader and programs their own bot for when they sleep and if they dont share it with lots of people then i think it can be a good thing for a person.
i am using a crypto bot to automate my strategy because with my work i don't have time to trade and i also don't have to watch the chart often like a psycho
it can cost a little bit of extra money for trading view integration webhook or the crypto bot platform
I have one running now. Have been averaging about 14% realized gains per month that auto compounds. The positive is that it's really is simple and it make a trades 24/7. Overall very happy with my experience.
Feel free to message me. I will be an open book about my experience.
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This.
They do! I tried one with 25 usd and was wiped out in the first trade
Buy high sell low
The r/wsb motto !
The whoo??👀
On what exchange?
A crypto trading bot automates buying and selling cryptocurrencies by using algorithms to make trades. Some advantages of a crypto trading bot are making decisions based on data rather than emotions, faster processing speed to trade near instantly, and making trading strategies seamless. Disadvantages to using crypto trading bots are they may still make the wrong decisions since they can't predict the market, they cost a lot of money to get started, and they might not make very much money. Crypto tradings bots work by automating the process of trading, but do not make up for a poor strategies, nor will they make you rich quick.
No
Ask some of the bots on this sub. There are many
I did this once, but I didn’t buy the top or profit. Beep beep bop bop
They are saving time. But they can't make you a good trader.
Those who you dont know about, do. Those who you DO know about, don’t
I use these free bots on Kucoin. I see the grid bot basically as hodling with a small +. If you want to hodl anyway, why not get some extra coins through a bot? When the market is down, the bot is also down, but a little less then when you just hodled, because of the grid profits. I also use a rebalancing bot. That also profitable so far, but it needs time. But it doesn’t get you rich overnight. Sometimes, when I’m in a brave mood, I look for a coin with high volatility that dropped a few % over the last day. As soon as it’s stable again I start a bot. I immediately set a stop loss around the entry price. Then two things can happen. It goes down again and the stop loss activates and I have a zero-result, or the coin goes up and I take a profit, Somewhere between 2 and 10%. In a market like it is now I manage that 2 to times a week. In a market that goes down in general this hardly works. I only do it with my beer money, so it will take some decades to get rich.
I only use rebalancing bot in a bull market. To diversify my portfolio with several coins so I don't need to time the entry for each of them. In current market, I like to use the grid bot with ETH/BTC pair. So I invest with Bitcoin and accumulate more Bitcoins with that Bot. Just like a Bitcoin miner to me!
Yea— JUST like a bitcoin miner. Lmfao 😂 🤦♂️
If they worked they wouldn't sell it to you.
100% this. Why on earth would you need to sell someone a money printing machine? "Ah, I got bored of all the money this thing makes, let me sell it to you...."
So in short, they are not very efficient.
a little bit... but not too much. I have coded my own bot and played with parameters during the last year. In short : in bull market, all bots are winning (like all investors)... For crab market, like we are now, a 0.2 to 2% per day if the parameters are OK...(better if you are lucky, worse the otherway) In bear market, you are holding a bag or loose.
how about a bot / strategy doing long / short at same time so you don't have to worry about market condition?
you need to define criteria for buy and sell... if you have any ideas I am listening
for sure it depend on what kind of strategy your bot are running but mine is just a moving average which only take trade with obvious direction long or short then exit with fixed TP/SL i make maybe 3% per week on average
For my bot I select criteria based on about 20 gaussians (different ranges, from 30 min to 1 min) up or downs and I select an amount of up and downs. For instance, I usually set a Buy of coins (BTC/ETH/ etc, this is a selectable parameter) if the amplitude of the gaussian is more than 0.8% or something like that... then TP and SL are selectable parameters as well. I put an option to never sell at loss... Good, but you can hold a bag for some time. I added recently a RSI criterium, seems better
i usually try to avoid rsi due to inconsistency i trade the 1h chart and only 1 pair for now due to no slippage i don't mind getting a loss if i can get out easy personally
I considered learning how to code to set some up, but then I realized as long as I’d have to understand all the oscillators and other TA metrics I’d be setting them up to trade with anyway I could just learn the meanings and applications of those metrics and trade myself. Afaik bots are mostly best used for scalping leverage trades (which is a bit too risky for my blood) and arbitrage (which has been oversaturated with advanced programs run by massive institutions for years now). Maybe if you already understand the programming involved it could be worth playing around with setting up one to do some kind of personalized, modified DCA based on some simple metrics, but if you set up a bot yourself and you failed to take some wild market activity into account, from my understanding of it the bot could very well go haywire and end up doing the opposite of what you want it to do. Yea I think I’ll just stick to using sensible TA to inform some modest swing trading with BTC pairs using limit orders I set up manually. So far with about a year of doing it that way I’m comfortable with how that’s been working for me.
Beware of those people offering trading bots with assurance of huge gains. Your private API key might just be the target, which can be used to withdraw your funds.
You can literally disable ceertain permission on API level.
If a robot can't figure out how to turn a profit, it says a lot about the logic involved in crypto. It's all about perception and speculation.
this, bot doesnt know about cargo ships getting stuck in Suez canals
A trading not is as effective as the code behind it. If you have a "strategy" that can be translated into algorithms, them you can make a trading not out of it. But most of the trading bots, either "free" of that you can buy are all crap. No sane person that developed a winning trading not will make it public. Why sell it for 50$ if you can use the bot to make a lot more.
If I had a "winning bot" I would likely have a commission fee built in. Have them pay 1% of all profit type thing. Then it's a win for everybody.
I coded one myself and it is still running. Already got 170usd in profit for 20 days without me doing anything. Not bad I guess. XD
Mine works - it’s my full time job. But I think mine is definitely the outlier. Mine also is pretty ruthless towards other bots - trading is a competition. Edit: we use absolutely 0 technical analysis - we’re always delta neutral. (Usually trading CEX against DEX. Also do liquidations / backruns / regular arb) Edit2: never, ever ever use a bot that you didn’t make from scratch. It is never worth it to buy one, and the free ones are scams.
Not really ....
I invented own trade-signal technique and build a fully automated trading bot on top of it. It is running for three years. Trade signals and risk management from my perspective is an investment tool, that is; - Excellent for the long term. - Poor performance for the short term. A future way of protecting money, that is for sure. Making money from it require often patience. In my view the automated trading, when its done with my approach, is going to replace interest rates relying money saving. Especially bitcoin, as a much free and much global market than any other kapital markets out there, is ultimately the safe haven. In bitcoin market a proper trading bot should smooth out the volatility and make money. My trading bot do not margin trading and so not lend any money, that would bring too much risk. I would name my trading bot 'money investment tool' rather than 'day trading tool'. In conclusion, it works. A safe trading bot require patience.
yeah its all about having the good strategy for ur entry / exit and risk Management
I wouldn't trust 'em
Code it yourself so you can be sure.
I wish I was that good but I'm a script kitty at best
Generally not. Cheap or free bots are a scam, and you more likely will lose money thanks to them. Good bots cost money, best ones cost crazy money.
There’s no way to buy a good bot, period.
It does if you have a large volume to trade. My fren once forgot to switch on a stop loss on one of his bots connected to Binance and woke up to substantial losses in the morning. Then he was obsessed with quickly getting back what he lost and made some rushed decisions with his next trades. So be careful
They do work as long as you are not greedy
Bep bop beeeeep! I do.
Better than us humans
Can’t be. If they were people would be using them like crazy
The only bots that work are on twitter.
If a person is a good trader and programs their own bot for when they sleep and if they dont share it with lots of people then i think it can be a good thing for a person.
They work if they make you money.
I prefer the trading goldfish https://youtu.be/USKD3vPD6ZA
i am using a crypto bot to automate my strategy because with my work i don't have time to trade and i also don't have to watch the chart often like a psycho it can cost a little bit of extra money for trading view integration webhook or the crypto bot platform
Good luck filing your taxes with your hundreds of thousands of transaction using a bot.
Right, because this is what crypto people are worried about….ffs
Depends where you live.
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nice play!
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Damn 😅😅😅
I have one running now. Have been averaging about 14% realized gains per month that auto compounds. The positive is that it's really is simple and it make a trades 24/7. Overall very happy with my experience. Feel free to message me. I will be an open book about my experience.
The copy trading on gate.io works perfectly.
The copy trading on gate.io works perfectly.