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RE: DAILY STEEM REPORT JANUARY, 15TH ( STEEM 0.14018$ )
I would be very careful about sites like this, while I'm obviously not accusing you of anything they wait for people like you to spread the word because it works for you and then that's when the truth comes out and it's all a scam.
It looks like they're operating trading bots and using other peoples' money to do it, while there's nothing wrong with this initially, there are legitimate trading bots out their like Quatloo which you can use which do exactly the same job but connect up to the exchange in question and allow you to retain complete control over your money.
Just be careful everyone, that's all I'm saying.
Yeah I just send them a mail, to send me some more proof about it, I heard about Quatloo, do you know how its working? And is it easy to setup?
I'm kind of nooby at bots, but I messed with it a little bit and all you need to do is pick a bot and let it go to work on a specific coin, they use APIs to connect to your exchange account but it's all done completely through your PC rather than a dodgy website.
I do know a bit about how they trade, the idea behind a bot is that you pick a price difference or something I think and then your bot will automatically trade between that amount, so let me think about the maths for a moment.
So if you had a coin going between 0.00000001 - 0.00000006 for example, keeping it really simple here and you wanted to make money off it you would have the bot trade between 0.00000001 - 0.00000003 constantly in order to make profits over 0.00000001btc and 0.00000002btc or so. This is literally called 'ping pong' trading as you're trading between two points extremely quickly just to generate tiny amounts of profit.
Might not seem like much, but if you add more currency of course over time then that means you'll get more and more, you do still have to keep an eye on this though in case the currency gets unstable. Please feel free to correct my maths guys! I only have a basic understanding of bot trading but that was just from when I played with it a bit.
It would be nice to find a proper tutorial on it, maybe somebody could write one up on steem that's knows about trading.
Thanks for your detailed answer!