Trading bots on Binance

[indianCrypto]

Recently I came across trading bots on binance and found it interesting since they were giving the option to use geometric and arithmetic setups for trading bots for free.
Normally, third party trading bot providers charge a fees for using them on exchanges but here we have them directly from binance for free.
We have the option to use them for spot trading as well as futures which is good for short selling and leveraged trading although we should use them with high caution.
I just gave it a try and I think it's good to have an option. What do you guys think ?

[CryptoboyRamesh]

I made it a point to never touch anything "AI-powered" when it's still in its beta stages as it's either going to cost me my job, or my money. But Binance's AI trading bot's pretty good if I do say so myself. The only massive bummer for me is that it probably generates its inferences and predictions based on the market as well as the predictions/positions locked in by successful traders within their database, which means they are collecting data without everyone's permission to make a trading bot. And that is a massive if but if that would be the case then I guess Binance will need to have some explaining to do.

I guess the concept saves itself cause it's free and it doesn't cost the user any extra fees besides what they would already need to pay. But at the end of the day, this is basically creating a copy-trading bot without the traders knowing that they are in fact being used to study the market, which is a massive mistake if I do say so myself.

I guess we'll just have to wing this concept for now. It's not like the crypto industry's big on copytrading or AI trading bots nowadays anyways. For me this is a gimmick to the professional trader, and a great training wheel for those who are just learning the ropes. Possibly at the expense of the successful trader(s) that they are collecting the data from.

[nazor]

with all this, investors and traders can easily learn to understand market movements so that they can easily control the coin they are trading. This is very good to use and you have to be very careful when using it.

[MrSpasybo]

Well, I think I will try to learn a little about Binance's Trading Bot, at least know how it works and how to make buying and selling decisions. If Tradingbot works effectively, this will be one of the important parts supporting Binance's comeback, although I don't like handing over my account to a bot.

[nazor]

Well, I think I will try to learn a little about Binance's Trading Bot, at least know how it works and how to make buying and selling decisions. If Tradingbot works effectively, this will be one of the important parts supporting Binance's comeback, although I don't like handing over my account to a bot.

I don't think it's a problem, let's try it, so that we can gain more knowledge from adding the Binance bot so that we can trade more effectively than before... but be careful not to hand over your account to anyone because if that happens, maybe I won't know what happened to your account.