#BotOrNot After Running Binance’s Own Bot for 3 Days
Discussion:
I invested $200 in Binance’s trading bot as a test. I configured it to use technical analysis on BNB, setting resistance and support based on the last seven days. The bot was programmed to buy when the price dropped by 0.23% and sell when it increased by 0.28%.
Over three days, it executed 22 trades. The final profit? A mere two cents.
If I had simply bought BNB and held it for two days, I would have lost $2 instead. While this could be seen as a positive outcome, the profit is insignificant. The bot also requires regular adjustments, and if the market moves rapidly, it can fall outside its set parameters. In a real bull run or crash, price fluctuations would likely render the bot ineffective.
#BotOrNot
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