Re: Kucoin Automatic Trading Bot: Enhance Your Trading strategy

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.

How sure are you that if you copy someone else's strategy you will do very well in trading? Yes trading bot and any other bot is composed of some programming code. And it will act as it can be commanded. In that case you should never copy someone else's trading strategy. Always do your own research and then try to trade accordingly with bot or manually. You don't need to do any coding in kucoin bot. Set only one trading strategy in it but it should be your own strategy

I have never even used a bot to trade because I don't trust anyone but myself and am more against copying other people's trades. We are always opposed to trading based on signals from the telegram team, there is no reason to use bots to copy other people's trades. They are just like us, all analysis is based on personal knowledge and experience, and there is no guarantee that they will do it better than us. I accept losing trades but will learn for myself instead of depending on others.

Using the bot is not a problem, the bot will trade the way you set the commands to the bot. Using a bot is high risk only when that bot is new and unknown. But Kucoin Exchange is a popular exchange and their trading bot also works fairly. So you can use it effortlessly. I gave my Kucoin account API to a relative who controlled and traded my account using the API. In this case I noticed he used bots to trade here. And because his command is right, he is able to profit from it