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Has anybody here tried bot trading?

  • 24-06-2021 11:25am
    #1
    bennyineire
    Registered Users, Registered Users 2 Posts: 2,490 ✭✭✭


    Has anybody here tried bot trading, this has been interested me more and more lateley.

    I have some experience in coding and some of the YouTube tutorials look doable I'm just not sure where to start really and if it's worth my while


Comments

  • #2
    Timmaay
    Registered Users, Registered Users 2 Posts: 11,394 ✭✭✭✭Timmaay


    Short answer, no don't bother wasting your time. You might after afew month's of much wasted time some sort of algorithm that starts to make money across time (so say wins 55% of the time or whatever), but then one single big market shock drops your account by like 40%, and your back in the red. There are alot easier and more enjoyable ways to make money in life ha.


  • #3
    GooglePlus
    Registered Users Posts: 2,010 ✭✭✭GooglePlus


    I doubt there's a bot capable of making sensible decisions on your behalf just yet.


  • #4
    False Prophet
    Registered Users Posts: 837 ✭✭✭False Prophet


    Would be a nightmare in regards taxes as well id imagine both in having the margin cover taxes and in paying taxes.


  • #5
    bennyineire
    Registered Users, Registered Users 2 Posts: 2,490 ✭✭✭bennyineire


    False Prophet wrote: »
    Would be a nightmare in regards taxes as well id imagine both in having the margin cover taxes and in paying taxes.

    Not really, you just have to declare your profit (if any) at the end of the year and then pay CGT on that


  • #6
    ConseyMan
    Registered Users Posts: 55 ✭✭ConseyMan


    They have trading bots on Huobi and KuCoin. Kucoin is probably best, more coins, can alter the paramaters of a running bot, classic grid and futures bots. You can start trying it out pretty quick. It's not easy, requires patience and a good eye for the market.


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  • #7
    Gadge
    Registered Users, Registered Users 2 Posts: 552 ✭✭✭Gadge


    ConseyMan wrote: »
    They have trading bots on Huobi and KuCoin. Kucoin is probably best, more coins, can alter the paramaters of a running bot, classic grid and futures bots. You can start trying it out pretty quick. It's not easy, requires patience and a good eye for the market.

    I always have my coins running on the trading bot on kucoin, the more volatile the better, often times I'd be up 1 or 2 % even if the coin's current price is below my entry price.


  • #8
    Static M.e.
    Registered Users, Registered Users 2 Posts: 3,088 ✭✭✭Static M.e.


    There is a chap? in the main investments forum who has created his own bot and traded for the last 12 months on it and is up 100%. Sounds like he put a lot of work\time into it. Might be worth contacting him directly.


  • #9
    Thargor
    Registered Users, Registered Users 2 Posts: 17,964 ✭✭✭✭Thargor


    Static M.e. wrote: »
    There is a chap? in the main investments forum who has created his own bot and traded for the last 12 months on it and is up 100%. Sounds like he put a lot of work\time into it. Might be worth contacting him directly.

    Can I get a link please?


  • #10
    ConseyMan
    Registered Users Posts: 55 ✭✭ConseyMan


    Gadge wrote: »
    I always have my coins running on the trading bot on kucoin, the more volatile the better, often times I'd be up 1 or 2 % even if the coin's current price is below my entry price.

    Been struggling a bit my self, it's quite difficult to get the right coin at the right time. Have you tried the futures grid? Are you on the telegram channel?


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