CRYPTO TRADING BOT

[budhas]

I need more infos about these bots. Did anyone here using crypto bot ?

[Allura]

Most of the trading bots use very common trading strategies. If you know how to code, you could probably make one yourself.

Regardless, I haven't tried a bot myself personally, so I cannot say too much. However, think to yourself, if you had a bot that could make AMAZING trades by itself, why the hell would you sell that software? If you are thinking of getting the bot for a set and forget method and it will continuously make you money, don't get a bot.

If you are buying the software to set up things like if BTC reaches $15,000 the buy, else if BTC reaches $20,000 sell, then buy back at $18,000. Or you are using a bot to ensure you are at the top of the order book, making trades to avoid larger fees and buying/selling before buy/sell walls, then go for it. Essentially, if you are using it to make your trading life easier, then yes, go get a reputable bot. However, if you want the bot to think for itself and make trades for you, don't get it.

This is just my opinion.

[budhas]

we have the same opinion and i think these bots are also in stocks not only for crypto.Also you have to make good settings in order to get good profit

[Allura]

we have the same opinion and i think these bots are also in stocks not only for crypto.Also you have to make good settings in order to get good profit

These bots are definitely used by big investment companies. However, you don't see them openly selling their software because it probably does a good job at what it does.

[budhas]

exactly you are right so we have to set it up manually with any risk investment.Or Maybe its better to add stop loss and profit at least.

[Allura]

exactly you are right so we have to set it up manually with any risk investment.Or Maybe its better to add stop loss and profit at least.

Stop losses are usually built into exchanges. I think the only reason I would use a bot (and I literally thought of this so many times while trading the past few weeks), is to find the best buy/sell price. Being able to detect the best price would be great. I know I can just use the depth chart to pin point buy/sell walls, but it's hard when you trade big volume coins.

Also so many events happen while I am sleeping. I've literally only had 1 open trade I go through while I slept (that was yesterday, I bought ETH at its almost lowest low, a few units off the lowest low). I cannot tell you how many times I missed a buy/sell wall this past few weeks by literally a few units. My buy order was just a little lower than than the lowest low. Or my sell was a little higher than the highest high...

It's so annoying, because my analysis has been really good so far but then I miss my shot by being a little too greedy and setting buy orders at the min or max rather than near the min and near the max. I know it, but I like greedy lol.

[budhas]

this happens to me on stocks when i add prices to buy/sell and it is soo bad when you dont buy for just one cent!!!

[Gnocchi88]

Well in the off chance that someone has something decent for sale or license, it would fun to pick it apart and make adjustments to see if it can be improved.

[Seckz]

These bots are definitely used by big investment companies. However, you don't see them openly selling their software because it probably does a good job at what it does.

You know, it's pretty cool to see a thread about the subject, since I recently started using Python over the last year, and have been trying to think of a potential way to utilize AI in it, and I had the idea of something along the lines -- not necessarily to automate buying/trading for myself, but just to feed and analyze price statistics into an AI that would project what it thinks the price will be after X amount of time has passed (I think that this part would be important, that you analyzed statistics based on time periods, and made predictions based upon the respective time periods as well), and compares its predictions to the market price. It would be pretty cool to see how accurate it would be, and I could potentially see this being the driving mechanism behind at least some of the automated trading bots on the market

[terced]

Tried out a few crypto trading bots and the best one I've come across is probably 3commas..... If you are just getting into crypto and trading the UI is extremely easy to understand and get the hang of.