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Return Of The Algo Trading Bots webinar playback

(Last Updated On: December 6, 2021)

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Open ended talk or chat but let’s assume this is for crypto but forex/CFD/stock is different How does one define what a trading bot is? Self contained custom built piece of software or third party web trading bot service

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Notes:

Open ended talk or chat but let’s assume this is for crypto but forex/CFD/stock is different

How does one define what a trading bot is?

Self contained custom built piece of software or third party web trading bot service

Free open source bots like Gekko (one of the most popular videos I have done)

https://www.youtube.com/watch?v=gb9G9pLEk1M&t=2s

Best comments but most honest and at the bottom of the pile:

It made 7 trades and lost money on 5 of them, and was down overall. Impressive! Trade bots should NEVER sell for less than the bought price. If the price is down from where you bought it, you wait for it to come back up, because you only invest in things that you know will be profitable long term. In this case- free is expensive. But thanks for the info.

Third party web trading bot service (very crowed marke with race to the bottom mindset)

According to Benzinga https://www.benzinga.com/money/crypto-trading-bots/

All round: Cryptohopper 20-100 per month https://www.cryptohopper.com/pricing

 I wish I could get it to work, and after talking to many different people, paying professionals in the market place and tweaking baseconfig, I can always get it to test positive on the backtests, but cannot seem to make profit even when the conditions seem right.

Sadly it’s true . I would been better off just HOLD But I am learning allot and still up

https://www.reddit.com/r/CryptoHopper/comments/c5l68o/after_almost_a_year_using_cryptohopper_my_thoughts/

Best for automating: Trality 10-60 Euro https://www.trality.com/pricing

I just started testing this not and I have troubles finding trailing stop loss…

I think that there is none…am I right?

Anyone still using this bot? Or is it dead in the water ?

I just started testing this not and I have troubles finding trailing stop loss…

I think that there is none…am I right?

I just saw my first ad for Trality and I have to admit the concept is very intriguing. Why isn’t there any community activity around this project? It said there was a beta but was there no public or invite beta? The only articles I can find on the project seem like paid pieces. What gives?

I played around with Trality for about a week and I like the concept they have going but it’s pretty obvious they’re in the very early stages. IMO, they are Coders/Programmers and Business isn’t their strong point. They’ve put out some videos and articles about it but they definitely need to add a team member to manage the PR and Business side of the project.

 

I created a couple after i learned how to use the platform and the backtests showed them to be profitable but unfortunately they don’t support Binance.us yet so I wasn’t able to live trade it!


https://www.reddit.com/r/trality/

Best for mobile: Cryptohero.ai up up to $30

Best for non techie: Botfoio https://www.benzinga.com/money/crypto-trading-bots/

Botsfolio https://botsfolio.com/pricing/ up to $19 per month

https://www.reddit.com/r/TradingBotInfo/comments/o1xlcl/cryptoheroai_review_aipowered_crypto_trading_bot/

It’s super easy to use in comparison with others. Made some profit from it already. Highly recommend!

table bot with minor quirks not like other bots which are buggy and unstable. Plus point for CryptoHero as it runs well and is stable. The team is always adding new features – another huge plus. highly recommended.

Not one negative review with only 2 responses so this could be fake or not enough reviews

Others mentioned Wunderbit, TradeSanta, Shrimpy, Pionex, Coinrule


Overall trading responses on Reddit

https://www.reddit.com/r/BitcoinMarkets/comments/7uu4g4/does_anyone_use_a_crypto_trading_bot_if_so_do/

The conditions for profitability are moving targets so bot trading isn’t really a ‘set it and forget it’ type of operation. It’s about deploying different bots for different market conditions and being comfortable making adjustments.

In my experience there is a lot of added overhead to profitability. Those suckers need to be online and in working order at all times and that turns into a job in itself. I took a small loss in my bot trading foray and invested a lot of hours, but I enjoyed it and I think it helped me become a better trader overall.

Well said! It took me a solid 6 months of trying to hit that moving target to realize this wasn’t going to be an automated method. Stopped programming to spend some time day trading to learn the strategies and ended up realizing that I was overtrading and maybe I needed to just settle for investing. Wish I had realized that back in 2015, or even the start of 2017 when I was buying ETH for $7.00

I run bots, but also, and more importantly, a run a set of semi-automated tools that aren’t quite bots, but make my life MUCH easier. For instance, suppose I want to execute a limit order without paying the taker fee. Like many others, I have a program that will dynamically reprice my order to ensure it’s at the top of the book. Just using this has saved me thousands, both in taker fees and being on the good side of the spread. That program is not a bot per se, but is a potentially fundamental part of any bot. Every toolkit starts somewhere.

Occam’s Razor: the simplest explanation is often the most correct.

If crypto bots don’t work, why did anybody develop them? Gunbot, Gekko, Quantopian, etc. Hell, there’s a whole subreddit at r/algotrading

Inverse argument – if crypto bots do work, why isn’t everyone using them?

Working and profitable are two separate issues. It is trivial to make a working bot, less so to have a profitable one

they work but they require significant tweaking or understanding how to trade. you can blindly follow settings that people have put together but its still better to understand what it is doing and have a strategy of what you want to do. the main benefit of having a bot is being able to execute a strategy 24/7. it gives you more control over your portfolio and “does it for you” but still requires a profitable strategy.

Do you use a trading bot? If so what and why

https://www.reddit.com/r/binance/comments/m0i87t/do_you_use_a_trading_bot_if_so_what_and_why/

Well, if somebody is selling you a trading bot, that’s usually because it’s more profitable to sell the bot than it is to use it. Keep that in mind.

Further, using bots effectively requires that you already be good at trading without a bot. Some bots may be good in very specific market conditions. No bot is going to consistently make you money with the default settings. But in order to know how and when to use a bot… you need to learn how to do it without the bot first.

–→ Which is why I only use a bot for trade execution (and even then they profit from my commissions). Long term I want to work on more automation though.

 

 

25% of each trade? Doesnt make sense i guess thats a typo? Because when you do small 1k trade it cost you 250. Doesnt leave much room for a profit haha.

https://www.reddit.com/r/ethtrader/comments/qdkduz/my_top_5_trading_bots_this_2021/

Wait a minute…are these things for real? I always though people were joking about those kind of things. If they’re so good how come it isn’t so popular to use?

–→ Because it mostly never beat a holder

Pretty sure the upvotes are boughg and most commenta here are bots shilling

I agree, when I was starting my journey with crypto 3 years ago I also used a trading bot for like half a year to know a few things or so but of course you also do your own research from time to time and just use them as a guide.

If you stalk most of the people in the comments you’ll notice a pattern where most of the bot shillers are active on specific subs, their accounts are not even over 1 year

According to Bezinga (are these toys based on price)

Do Crypto Bots Actually Work?

Many crypto trading bots purport a high level of successful trades. However, remember that the cryptocurrency market constantly changes and price trends always fluctuate. If you plan to take a completely hands-off role when it comes to investing, you may not see the same type of results that you would actively managing and reprogramming your trading bot based on market conditions. 

Are Crypto Trading Bots Profitable?

Crypto trading bots can help you make more educated trades and remove some of the emotions that might lead to increased losses. However, it’s important to remember that crypto trading bots are simply pieces of software. They cannot guarantee a profit for any investor and they may quickly become less useful during periods of high market volatility. 

 

 

Negatives:

***  If this is your first time trading cryptocurrencies, changing the settings on your trading bot can result in fast losses

Requires monitoring: Trading bots aren’t a “set-it-and-forget-it” solution to cryptocurrency trading. The cryptocurrency market is volatile, and trading bots can result in losses during periods of high volatility. If you don’t have the skills or knowledge to monitor the market, a trading bot may not be the best choice for you.

 

 

 

Custom build a bot?

Depend on the developer experience and most of all their trading experience

Lessons learned for self contained trading bot or algo trading/systematic trading

Pythons orders/executions may not work but optimal for analysis including machine learning

Move execution to top notch platform like MotiveWave. Look at my crypto track record

 

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!

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