The profitability of trading bots simply differ from bot to bot, as they have their own indicators and stuff. And yes, trading bots
can definitely be very profitable, assuming that the user of the trading bot knows what he's doing in the first place, by tinkering it and making it better as time goes.
I have recently set up a bot and have been astounded by the operability of it. It's actually working lol.
If the bot you set up is currently doing really well, great. Good job. But don't assume that it will work great forever. This is a common mistake with trading in general, that could potentially end up burning the trader. Just a heads up.
This is absolutely correct.
Bots have different roles in the trading industry, it could be use on automatically picking the right choice to make to trade, or you could manually put what you wanted to trade and the bot will do it overnight if you wanted a sleep, basically just that. However, just like what you have said, we have to know how to take advantage of it and not just randomly use it believing that it could give you profits without the user making the first move, unless he have the automatic trading bot that do all the works.
But don't assume that it will work great forever.
I agree.