Many people I know lost a lot of money using bot, but bots is best using when you know what the market is and how it works.
One can only lose a lot of money, if they put a lot of money on the table. If you try some bot trading with 0.02
BTC and
no leverage, in worst case you lose 0.02
BTC which is ~20 US$. Sure, if you get greedy and and want to get rich fast and do trades with thousands of dollar and a leverage ratio 1:3 you can lose a lot of money.
But this is the nice stuff about
BTC-trading. You can trade with a very tiny amount of money and extremely low fees (0.2x%). This is not really possible in fiat-world. Too high fees that it can be profitable in any way without putting thousands of dollar to the test.
// Alex