Post
Topic
Board Trading Discussion
Re: Kucoin Automatic Trading Bot: Enhance Your Trading strategy
by
SirLancelot
on 08/04/2023, 19:20:22 UTC
Using trading bots has both benefits and risks.  You can never be sure by trading with a bot that the bot has made the right trade for you. 
Trading bot relies on you to run. You set it up and it operates with parameters you use in configuration. Bot only does not have emotion and it can operate 24/7 without sleep time. If you use a bad strategy to set up your bot, it will only increase your lost trades and lost money. If you use a good strategy, it can help to increase your successful trades but it won't help you to gain net profit after all.

The key to gain net profit is know when you should stop your bot. Like when you feel like the market will have a next big movement but don't know where it will go, stop your bot and wait for market confirmation to reset your bot.
Maybe there's also bots which are loaded with strategies and we can also buy or copy someone's strategy online for free for use in the bot, the same on what I experienced in the gambling bots before. The only downside of this is our wins rely on those people who created the bot or the strategy.

It's risky because we can lose due to the poor strategy that they implement or they are just a scam and created only to make them profitable. Bots don't have an emotion, yes and this makes them ideal to use in trading because trading can trigger our emotions and it can affect our performances. Bots don't also sleep or take a rest so we can make unlimited profits with it as long as the strategy that we use is good enough.