But this is why I say most people are lazy. They do NOT want to spend time researching and refining strategies and then set their bot up to do things on their behalf.
A common mistake and one that I made too when I was new in crypto trading. I remember I purchased some cheap bot and during those times Poloniex was a known exchange and I have no idea what the bot was doing but it generated profits and then it lost everything slowly. I just had to enter the amount of BTC I want the bot to trade for me. Now looking back at those days, I feel dumb because unless I am keeping a track of the market, it's hard to make money from trading whether it's bots or manually.Bots can only help you if you have a plan and require some kind of assistance automating a process. If you think you can just deposit money in the night and the bot will earn you millions by the time you wake up in the morning, you are mistaken.
By the way, are you guys trading more on CEX or DEX? I personally prefer trading on DEX these days after almost all the exchanges are getting strict with KYC and privacy is almost extinct.
Oh I remember Poloniex a lot and a bot might have been useful there even for the loan facility,,, you could loan out BTC and other crypto for very short durations and earn interest. I remember you could earn even 10% for 1 day loans to other traders and instead of sitting there and looking for loans just use the bot and repeatedly loan out BTC for 1 hour or 1 day all around.
That makes perfect sense but to trade itself, if your strategy is bad,,, the bot just automates a bad strategy
