What Are Trading Bots?
No, we aren’t talking about Wall-E or R2-D2 here. These ‘bots’ are programmed to follow intricate algorithms to enter/exit trades in a desired stock/future. Through use of technical analysis the bots create optimal trading strategies, while following a set of programmed rules.
Do They Really Work?
Trading bots can be risky, none of the bots on the market can guarantee 100% always winning trades. This is why it is best to select a trading bot that best fits YOUR risk tolerance. Many of the bots on the market allow a free trial before subscribing, this is wise to do! Ask many questions.
Where Do They come From?
Some experienced traders that have an understanding of different strategies may design their own bots for personal use. They can input the data into the algorithms to act as they would in a trade. The trader could then publish the bot for public use if he/she chose to. There are also some companies that help you create your own bot.
Why Should I Use a Trading Bot?
Bots give a trader the ability to trade patterns they may otherwise miss because of lack of foresight or not paying attention. An automated trading system makes trades based on a set of inputs designed to a technical approach devoid of emotion allowing for little mistakes. Automated trading bots are more like having an employee then it is a system to make money, you make sure he shows up to work on time does his job then goes home.
Which Bot is the Best?
That is like asking which car is best. Some are more risky than others and have the potential to generate more, some are more conservative with a smaller more reliable profit. You need to research each before making a decision. Simplemente Trading offers FREE trials to use our own bots that we designed. Try them out for 10 days, then once you see what they can do it will be an easy decision to subscribe.