Making money using crypto trading bots?

[rankage]

Hello guys. Has anyone tried crypto trading bots to generate income? I've heard a lot about these bots but never tried them. Have any of you tried these bots?

 

[Alienarts]

i want to try one of those too, if anyone have please share

 

[justimimim]

I explain 1 thing. Bot means it will follow instruction given. What instruction given from where is the important thing. You set bot with one algorithm or signal provider , you lose money. You set SAME bot with another algorithm or signal provider, you make money. Bot alone no make you money.

 

[HustleTong]

They're more like 'reminders' to keep track of % 24X7

 

[Elvlin]

for the bot to work you need to be able to trade manualy and profit. since it will only follow your instruction.
better try looking for arbitrage bot

 

[emudavid23]

Would love to know if anyone is currently using a bot. Whether if its effective or just better trading manually

 

[flprocess]

Best I did is program a script which alarmed me when BTC was under x% so I'll know to buy it and alarm when it's above x% so i'll sell it. I made it on specific margins so my profit would be solid over time, but then BTC went X2 and i'm not in there . I have read about automatic Binance trading bots which you can run on your linux/vps, their duty is to trade between coin1 coin2 and usdt based on changes to market. All in all, I have no clue what is better.

 

[breakcode]

Having a bot is the easiest part, in addition to the bot you must also have a solid strategy that allows you to make money and not go at a loss.
You should consider hiring a developer and having your own bot programmed for you.

 

[MisterCranck]

Trying to make a trading bot with python and reinforcement learning, hope it will learn something.

 

[Setox]

Heard good things about Royalq, it can works with binance API , i will check it soon.

 

[Leader777]

better try looking for arbitrage bot

Is Crypto arbitrage still a thing?

 

[Elvlin]

Is Crypto arbitrage still a thing?

yes just need better bot, and higher capital to scale it up. since it's small earning now.

 

[capripio]

what kind of strategy will you be using with bots. There are many services that provide bots like Cryptohopper have you tried those?

 

[justimimim]

Is Crypto arbitrage still a thing?

Crypto arbitrage is taking advantage of of coin price difference in 2 different exchange, doing that is now no much profit. Now people doing 2x, 3x , 10x even more trading shitcoins OR buying gems and the hodling, ot selling midway for 2x, 3x or more.

 

[Nut-Nights]

NO trading bot in the world can make you any money. Dont ask me why.

 

[forexuytin]

If you trading mt4 platform, I will give you some free ea, check the name of ea thay you want here ea-vn.com and send me the name of ea.

 

[Leader777]

oing that is now no much profit.

Yeah , that's why I said if it's still a thing. Because I see nobody doing it.

 

[justimimim]

Yeah , that's why I said if it's still a thing. Because I see nobody doing it.

Not many people using bots for crypto trading, because not everyone have access or knowledge of the good algorithms, signals, etc. Not everyone can tweak the algorithms for bearing situation, bullish situation, etc. And most crypto people make money NOT by trading crypto, but buying the gems at the very right time and go from there.

 

[N1ckG2]

To set up a bot you must first be a good trader OR copy their strategy and this is what I do.

 

[GiraffeBurgersAndFries]

I know one person using a crypto trading bot that employs a grid strategy. It's making them money, last screenshot I seen was $530 for the past 7 days. They're using the free 3commas bot with KuCoin. I'm not affiliated with either company. It's not really set-and-forget either: you have to manage it still. Tweak the parameters etc. Grid strategy is good if the crypto is range-bound for some time. Question is then how to find those opportunities; how to screen for range-bound cryptos... that's a whole different bot itself

I can't speak on these public bots beyond that. I wouldn't use one, only because I rather dev my own. I see a lot of potential in building an algo trading system and will do so when my current ventures are complete. I expect it to work well and have been thinking about it for months now. Maybe I'll post a journey? One thing I ain't figured out with running a crypto bot is the tax implications though. The nice thing about these bots and their strategies is you can apply them to the stock market too, and you can run them on a tax-free account

Good luck and remember: only play with $$$ you're willing to set fire to!