We all know how volatile the crypto market is especially now. I have heard so much about crypto trading bots and their possibilities of automating the trading process and turning folks into crypto millionaires. For some of these bots, the user can program them to buy at predefined low and sell at a predefined high. I’m pretty skeptical about this maybe out of ignorance or just sheer human skepticism for stuff like this. Have you ever used a bot to automate your trading? Do you trust it enough to make the right decisions? If trading bots are as good as they claim, why are folks not using them as much as they should?
I would not say "never" use them, they are still something that you could learn a bit of things from, they are still not that far away from the reality and it is certainly good if you could find a decent bot as well. The main problem that most people forget is that unless you have been using one for a long time and know how to use it then you are not going to even make a profit during the bull period.
I wouldn't say "never" if you know how to use automated trading bots, they are still a useful tool if you know how to use them.
An automated trading bot will not work without you, this isn't a machine that will work and make money for you. On behalf of you and under your command, a trading bot will work fine. This is still useful on my side especially when you aren't around facing your PC and monitoring the market price, automated trading bot will execute buy/sell under your command.
Each of us has different perceptions of this automated trading bot system, but when you say they are useless, no, I wouldn't agree. It depends on how to use it.
This is very right. This is why automated trading bots are not for all traders. Because if they don't know how to use it or understand the use of it, it is useless. You can just stick to the normal trading if you have no idea yet how to use auto trading bots. Because if you got the strategy on how to use, definitely, it will be useful for you when you have no time to attend to all your trading activities.