Starting to think there is no money in automation

[mtrehearn]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

[Derek27]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

I'm in the early stages of automation but there are some guys on here making 5-6 figures a year. If you're not even out of practice mode you haven't even started yet so it's a bit early to draw conclusions. Don't make the mistake of thinking if you fail at something it must be impossible.

How long have you been working on automation?

[goat68]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

Just keep trying, but dont risk too much money..
Ive been at it 2years now, admittedly part time, but only just possibly turning profitable.. A few months is nothing, some profitable strategies might make a loss over that period.

Persistence more than others is the winning strategy.

[Wishy]

My own thoughts are its hit and miss unless you are full time analysising which races to bet on....generic automation does not appear to work....one day i'm making profit next day its a loss.....dont give up the day job....somebody tell me different??
You are probably better off creating a subscription website telling people how not to bet!

[Trader Pat]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

Goat's thread is a great place to start. He's had a lot of false dawns but he's hung in there and his perseverance and attitude is to be admired.

There are some valuable insights there and you'll probably be able to relate to his experiences.

viewtopic.php?f=5&t=21616

[Derek27]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

I'm in the early stages of automation but there are some guys on here making 5-6 figures a year. If you're not even out of practice mode you haven't even started yet so it's a bit early to draw conclusions. Don't make the mistake of thinking if you fail at something it must be impossible.

How long have you been working on automation?

Sorry, I hadn't read your post properly. I've been designing bots for 6-8 months part-time when I'm not manually trading and I'm still yet to go live in a serious way. I've made money, so to speak, in practice mode but PM is nowhere near accurate in terms of profit because bets that would only get partially matched in real life often get fully matched in PM. PM is purely for testing the mechanics of your automation, checking bets get fired as expected, cancelled, etc.

[Euler]

Automation is where the money is at. Take a standard strategy, refine it, improve its execution and away you go.

Where people go wrong is they are looking for just some generic automation that prints money endlessly on every market they apply it to. That's probably the hardest thing to do.

Creating good automation and applying to the right market will yield good results. I have something running virtually 24x7 now, but they all started as much simpler strategies a long time ago and have been refined and evolved from there.

Anything worth doing, is going to take time and effort.

[Cardano]

Automation is where the money is at. Take a standard strategy, refine it, improve its execution and away you go.

Where people go wrong is they are looking for just some generic automation that prints money endlessly on every market they apply it to. That's probably the hardest thing to do.

Creating good automation and applying to the right market will yield good results. I have something running virtually 24x7 now, but they all started as much simpler strategies a long time ago and have been refined and evolved from there.

Anything worth doing, is going to take time and effort.

Totally agree - and I would add In-Play to that - Back/Lay

[goat68]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

I've been designing bots for months and tried everything I could think of.

My last bot was a lay bot going really well for 2 weeks with a great strike rate and return and now I've had 2 losses in a day wiping out any profits (fortunately I was in practice mode). I know this is the trouble with lay betting but I find it a lot easier than finding a bot that does a reliable back bet (unless I'm missing something major) that isn't along the realms of dobbing or backing the market.

Is anyone actually making money using bots? Is it long term profits? Do you prefer to lay / back / scalp / swing pre race or in play?

I need motivation.

Thanks in advance.

Yeah, thanks Trader Pat for the reference! If you can bare to read 234 pages..! you'll find I nearly threw the towel in several times, had to dig deep... but lots of kind people offered help and suggestions that you can read there...

[MAGTRADEUK]

IMHO you cant do any automation until you can trade strategies manually consistantly. Automaion really is just the heavy lifting of a profitable strategy. You will need different bots for differnt markets, as one bot will not work on all markets just like if you trade all markets the same manually using the same approach it will probably not work. I have look at automation but to be honest it causes distraction from trading pre off, which I think you have to get the hang of first so you can then construct an appropriate strategy. IMHO.

[ShaunWhite]

IMHO you cant do any automation until you can trade strategies manually consistantly. Automaion really is just the heavy lifting of a profitable strategy. You will need different bots for differnt markets, as one bot will not work on all markets just like if you trade all markets the same manually using the same approach it will probably not work. I have look at automation but to be honest it causes distraction from trading pre off, which I think you have to get the hang of first so you can then construct an appropriate strategy. IMHO.

There's many kinds of automated trading; what you describe is one but many successful people have never even clicked on a ladder, and some use the same strategy on every market 247365. Imo people fail at automation exactly because they see it as an extention of manual trading rather than using it for things manual traders could only dream of.

[Derek27]

IMHO you cant do any automation until you can trade strategies manually consistantly. Automaion really is just the heavy lifting of a profitable strategy. You will need different bots for differnt markets, as one bot will not work on all markets just like if you trade all markets the same manually using the same approach it will probably not work. I have look at automation but to be honest it causes distraction from trading pre off, which I think you have to get the hang of first so you can then construct an appropriate strategy. IMHO.

There are one or two on here that failed at manual trading but excelled in automation. Automation can sometimes take away a manual trader's faults like any emotional issues with watching risk get bigger or turn red, but I agree, experience of manual trading, how to profit and the pitfalls you encounter are valuable experiences for bot building.

[tumby]

I think the key to success is data. I don't mean data mining historic data, I mean collect data on your strategy, as much as you can think of. Record everything. Then build up a database of results and all the associated data. Then you need to start analysing your performance against the data you have collected. I am sure you already have a feel for when you do well and when you fail, does the data back this up? Can you alter your approach as a result so you tip things slightly in your favour. Thats all you need to be long term succesful. The key is to analyse and keep analysing, never stop.

[goat68]

I think the key to success is data. I don't mean data mining historic data, I mean collect data on your strategy, as much as you can think of. Record everything. Then build up a database of results and all the associated data. Then you need to start analysing your performance against the data you have collected. I am sure you already have a feel for when you do well and when you fail, does the data back this up? Can you alter your approach as a result so you tip things slightly in your favour. Thats all you need to be long term succesful. The key is to analyse and keep analysing, never stop.

+1

[gazuty]

Bet Angel has been great but I'm really starting to think that there is no money in automation.

Your mindset is wrong - if you think you cannot do it - you can't.

Read the guidance - viewtopic.php?p=265873#p265873

I've been designing bots for months and tried everything I could think of.

You haven't even scratched the surface. How did i beat you - https://www.youtube.com/watch?v=r4Xvp1sa6xg

Free your mind neo.

I need motivation.

My year of automation thus far - this help? Modest but steady profits build up gradually into something that is enough for me.

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