Quote from: Kong Hey Pakboy on Today at 12:39:05 PM

Quote from: Katerinche on Today at 11:07:32 AM

I don't fully understand the use of bots where you do not know what strategy it's running. You never learn anything and have no idea how to adjust. Of course if you really don't care about learning trading it's fine.
I run bots, but do check in on the performance and optimise. Not a programmer and really did not want to run something that is not backtested so in the end used Cleo.one. Usually I pilot strategies on paper trading first.

The only used of trading bots or automated trading is to help a trader to manage his portfolios while he is busy on other things, but automated trading do not guarantee 100% profit. So working on our trades or doing manual trading is still the best because even we may experience losses, there is still a huge chance for us to gain back all of those losses by doing it on our own.

Most people that trade are not full time traders.
Crypto runs 24/7 there is no way to catch everything you need to, unless you trade high time frames. High timeframes are great and undervalued by a lot of traders, but bots for me have been excellent in aiding my trading psychology.

It's hard to execute your strategy after 3 losses in a row, even though you should.
It's hard to take profit according to your plan when half of Twitter is screaming "we're going to the moon!!!"
It can be very hard to be dedicated to your position amount (2% for me from my funds) when you know that massive green candle is coming or you wanna jump into a promising short.
It's hard to work on your strategy when you have the "eh, I'll see how I feel" mentality which can derail your trading plan.
It's hard not to FOMO into a random trade when things are moving.

Bots force you to make the best plan possible and stick with it. This is why there is still less professional competition in crypto trading - only a fraction of traders actually make a plan. Without a plan there is nothing to optimise. Without anything to optimise you will not improve and achieve long term profitability.

Katerinche

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