What are your experiences & recommendations for trading bots / algos?
What are your experiences & recommendations for trading bots / algos?
Hello, I am new to the forums.
I’m primarily interested in crypto trading and algorithmic trading, as well as bots.
I know that bots are a sensitive topic for many but I would like to gather some recommendations for crypto trading bots / services on the market – perhaps some that are a little more niche. Always on the lookout for interesting products in relation to crypto trading. I’m currently managing part of my trading with an algo bot service since about three years and am quite happy with it which made me curious about the larger picture. I write a finance and trading-related online blog and am looking for new products to discuss, test myself and share with my readers potentially.
Are any of you using outsourced trading solutions / bots / paid for automations – if so which? Or are you trading solo?
Would be glad to receive some good replies.
Cheers
My biggest suggestion would be staying away from them. I have tested 11 of them so far in my life, from the biggest and most known ones, to test level beta stuff as well and I can tell you that almost 90% of them work with the same mindset and you do not need a bot, it is not going to make you any money that you already can’t make, and the bigger problem is that it will make you lose more money than you would.
In a case where you are doing the right thing, instead of making five dollars you make ten dollars which is fine, but if we are talking about losing five dollars then it makes you lose 10 dollars instead and that is why you should stay away from it. There is no benefit to it and you should probably look for another way to make money than any kind of active trading which can be either manual or bot based, no big differences.