What is your idea on Trading bot?

[cryptomaga]

I recently came across a trading bot carnival on Bitget where users are encouraged to trade EIGEN, CATI, TON, and MOODENG to share from $50,000. Though this looks enticing but I was confused, is bot trading different from copy trading? He explained that both methods trade for you automatically. Specifically, copy trading lets you copy the trade of an experienced trader, whereas bot trading follows set rules or algorithms to make trades. He recommended both as great starting points for beginners like me to get a feel for the market.

I recently started exploring copy trading and now I need to add bot trading along since I want to try out the carnival and if it is better I might stick to it or what do you think?

[mf2]

That is called "algorithmic trading" or "algotrading" and a wealth of books/videos is available about this subject, e.g. the /r/algotrading subreddit.

[TheGuru12]

Lots of Open Source Stuff on Github, I've worked with the API for probably 10 years or so. 

 

https://github.com/tg12

[XTRAVAGANZA]

I've actually used trading bots before and found them effective, especially in volatile markets. While copy trading can be great for following experienced traders, bot trading allows for more customization since you set the rules or algorithms yourself.

It's useful if you want to automate your strategy and avoid emotional decisions. For the Bitget Trading Bot Carnival, using a bot could help maximize your trades on those tokens, could be worth giving it a shot. You might end up preferring it, especially with the prize pool up for grabs.

[cryptomaga]

On 04/10/2024 at 19:51, mf2 said:

That is called "algorithmic trading" or "algotrading" and a wealth of books/videos is available about this subject, e.g. the /r/algotrading subreddit.

algotrading? is this also related to crypto trading?

[mf2]

You can trade anything you want fully automated.