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RE: Some of my trades today..BCH opportunity ETH at Highs..
Hi Luke or maybe someone with Bot experience,
I was wondering if you or anyone else has tried an "Order bot". I am just learning about bot's myself and I dont know if a "Trading Bot" is of that much use for the way you trade, if so it would probably need some custom programming, because most of what I have seen is that they use them to trade traditional indicators and I suppose you could reverse the protections on the insurance features to purchase in panics instead of sell, but I was thinking the use of "Order bot's" could be of great value if it had features that would speed up purchasing and selling. Any thoughts?
personally I wouldn't want a computer making trades for me.. I much rather make my own decisions... I like to simply trading, so I do set alerts and wait for the chart to tell me thats its a good time to buy. But when it comes to pulling the trigger, thats me.
I understand the desire to make a program that would just generate money, and while it seems fine to let a program run with perhaps $500 in capital and see how it does, what happens when your account is $100,000 or $500,000? would you let a program buy and sell for you then?
I could have worded that better. That's not what I am looking for either.
What I am looking for is something that is more of an extended stop limit and an enhanced alert system. for example, sometimes I have orders set when I think something is going to drop, but I know I will likely not be there when it goes and dont trust that it I will be back in time for the spike, so either I risk it, or skip it, and both have cost me. In this instance it would be nice for an order bot to place a sell order, (of my choosing), for me as soon as a purchase happens. A limit stop would not help me as the current price is to high and would just trigger on the way down. I need it to trigger on the way up. I have also found stop limits to be inconsistent anyway. Sometimes there are order errors and a bot could be programmed to check if the order was actually made. Maybe there is another way to do this, but I am not experienced enough to know what it is.
I have also noticed that when I place an sizeable order for a coin, sometimes the order I placed mine just in front of, because it was also a sizeable order, jumps in front of me. This could also be a usable feature, if not just in the smaller markets. So something that can adjust orders based on order book information.
And lastly of course it would also be nice to have something scanning the market for panics and alerting me so I can make a decision on it. This is not my day job and I don't have that much time to set alerts on as many things as I would like to.
These abilities I think would allow me to be more successful with a limited amount of time, these points may be irrelevant when I am able to quit my day job, but I have not reached that point yet and I think even if were doing this full time it would be nice to have some of these features, if they worked consistently of course.