Hello dear friends!
Today I want to say somthing about trading bots!
Before everything, I want to say that this is not only my opinion, here I share with you opinion of other experts in trading and my own too.
First you must know that there are a lot of trading bots.
I am not using Binance but I heard that it is full of bots but I am using Bittrex and I can say and prove that Bittrex has a lot of bots too. Now you will think that it means that trading bots are good because a lot of members are using them. I will share my opinion below!
Traders with about, lets say 100 BTC + will hire best traders to trade for them or they will hire development team to make for them trading bot that will guarantee them at least 95% accuracy because I am 100% sure that there is not trading bot that guarantee you 100% accuracy! Why? Because it is made by people and we all know that we are not perfect. We can make something 99% but not 100%.
Also in trading there are hundreds indicators and I think that nobody can make strategy that is 100% profitablen nobody!
One more reason is that news can can be publised anytime and maybe bot will be unprepared, and we all knows that news have a lot with future price of any coin.
So these guys are happy with 95% because it means that from 20 trades, only 1 won't be profitable.
But maybe you will ask why they need bot? If you have 100BTC it is extremelly hard to trade. Reason is very simple. There are not enough coins with hig volume because to trade with 100BTC you need at least coin with couple of hunderets BTC volume. Also, mostly they are not so volatile and you need to make hundreds of trades to make even 1% of 100BTC ( because you will not go all in, you will trade in few parts ). That's why they need bots or professinal traders.
These bots are mostly good and they woudn't use them if they are not good for them.
But does it mean that you should use bot? NO!!!
There are few reason and I will write at least two.
Firstly, I dont think that you have enough money to pay development team to few months.
Secondly, you can buy bots for few hunders dollars but their accuracy is unverified! First, you can get scammed because mostly do not bot's owner and maybe there is not bot and you will pay but you won't get bot. Secondly, you will get bot but accuracy will below your expectations! It could make you even loss because it is made by developer who do not know anything about trading. Firstly, development for bot should contain best developers, best crypto trader and team leader because traders will make strategy, developers will program the bot and team leader will be at the top to keep these sides in touch.
Thirdly, why would you even try to buy bot? I think you should love trading and want to learn more and educate yourself. Every crypto lover should spend some time for learning. It's passion. If you are here just for money, it's okay but I am here to educate myself and make money because let's say government ban cryptocurrencies, most of you will leave trading but I will just switch to forex and I will be already prepared for trading I just have to deposit money and start trading. For me, trading is not a sprint, it is a marathon! Every day do something to improve your skills. There is not shortcut in trading!!! Keep that in mind. If you think I will use bot and make money or what is the worst you will find gambling site that accpets BTC and you will say why would I trade for 5% when I can make 5 times gain in 1 hour and you will lost everything. There are a lot of reason why, I was researching about gambling and also about people in gambling. Firstly, all online gambling sites are scams because they have implemented in code part that will help them never to lose. So your chances are 0% at the beginning. You can make some small % but oncee you start putting more money you will start losing? Reason is luck? No, reason is code that doesn't let you win. If you love gambling, go to Las Vegas!
I suggest you to invest in yourself, not in bots because tomorrow you can loose all money but if your mind is full of ideas, you will find a way to make money again.