Crypto trading bot

Flatulentoldgoat

Just wondering what people's experiences of them here are? I'm more interested in the off-the-shelf type rather than the elder-geek DIY type coded ones. I'm primarily an investor, but I have made some very healthy trades netting £1000+ although these gains are now bedded down in investments.

With a decent bot it would be fun to let it loose with say £100 and see how it fares. More of a bit of fun than anything.

Imagine if your average Ladbrokes punter, cider in hand thought of Crypto. My god the place would be out of business and there'd be free cider for all.

benbay001

Flatulentoldgoat said:

Just wondering what people's experiences of them here are? I'm more interested in the off-the-shelf type rather than the elder-geek DIY type coded ones. I'm primarily an investor, but I have made some very healthy trades netting £1000+ although these gains are now bedded down in investments.

With a decent bot it would be fun to let it loose with say £100 and see how it fares.

If someone had a successful bot program, why would they let others have it? The more people making the trade the less profitable it is.

Thats good that you made £1000+. Did you start with £1000 or with £100,000?

Flatulentoldgoat

benbay001 said:

Flatulentoldgoat said:

Just wondering what people's experiences of them here are? I'm more interested in the off-the-shelf type rather than the elder-geek DIY type coded ones. I'm primarily an investor, but I have made some very healthy trades netting £1000+ although these gains are now bedded down in investments.

With a decent bot it would be fun to let it loose with say £100 and see how it fares.

If someone had a successful bot program, why would they let others have it? The more people making the trade the less profitable it is.

Thats good that you made £1000+. Did you start with £1000 or with £100,000?

Just 12k, actually.

ratechaser

There are plenty advertised out there, usually with the seal of approval from Price Harry, Holly&Phillip, Bill Gates, Branson, the Dragons - you name it... everyone is jumping on board.

With that level of backing, they must be brilliant. What could possibly go wrong.

HansOndabush

Bots don't make money at your level. A few make money for a while for multi-million £ companies but they are kept under wraps and have vast ongoing investment. If it were as easy as telling a bot 'here's £100 go and make some money', don't you think everyone would be doing that by now?

If you seriously want to use a bot, the only way is to come up with some alpha and program your own bot to execute it; think serious learning and time.

eskbanker

I'm beginning to think that someone has developed a crypto posting bot, auto-generating significant volumes of repetitively standardised polarised threads on here, that typically generate rather more heat than light....

ColdIron

Crypto trading bot, three things I avoid

Scottex99

We’re building a bot for an arb we run right now. BTC/GBP.
There’s a few retail bots out there that you can API into your binance account etc so they can trade for you. Most are pretty !!!!!! though and if you Google the name plus “review” there are people just saying that returns were average.
I wouldn’t say there is a massive need to try and scalp or day trade if you’re fairly new to the space anyway, you can make plenty money buying decent assets and hodling, don’t need a fancy bot for that

mrkds

I agree with the above post. There are 'bots-to-hire' out there but mos of these are black boxes which you basically have to trust the developer that they are doing the right thing. Building your own, although time consuming and effortful, will give you more control and visibility of how your trading performing. It is also quite satisfying. 

I got interested in bot trading a few weeks ago, having no real knowledge of trading strategies, or crypto-markets. and have been playing about with a small amount of spare cash with a bot I wrote myself. I made some inital losses through some badly thought-out trading strategies, I've gradually refined it and now recouped most of my losses. Its by no means particularly sophisticated but I'm happy with its current performance and confident it will be making a decent profit in the coming weeks. 

One platform I think is worth a look is Trality. https://www.trality.com/ Its a good halfway house between writing your own bot and ready made bots. Its has a modular architecture which is easy for a beginner to build their own bots without coding. I had fun playing about with it for a bit but  later switched to writing my own code with the Binance API as the Trality platform was a bit limited,   Also you can only trade on hourly increments for free. Need to fork out a monthly fee to trade on  shorter increments. 

I say give it a go, its a fun learning experience, but dont be expecting to be making massive gains overnight and, as with any type of investment, don't put in any more than you can afford to loose.