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[SERIOUS DISCUSSION] Anyone uses Trading Bot?

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Old 23-05-2020, 11:09 PM   #1
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Lightbulb [SERIOUS DISCUSSION] Anyone uses Trading Bot?

Over the years in hwz, I've seen many trading experts and gurus here. Not sure they trolling or really trading as an income.

Lately staying at home due to this Covid-19, I have been bouncing ideas here & there, and one of them is trading as an alternate side income. Mainly using trading bot to buy/sell forex or any other markets so that the process is automated and can be 24/7. Imagine the income potential on that!

Before I explore the trading bot aspect further, I would like seek some advice from the enlightened ones here.

Anyone here has experience with trading bot? Any comments?
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Old 23-05-2020, 11:20 PM   #2
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lol if everyone can just run a bot put some money in and get passive income, then nobody will go outside and work anymore
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Old 26-05-2020, 06:53 AM   #3
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Lately staying at home due to this Covid-19, I have been bouncing ideas here & there, and one of them is trading as an alternate side income. Mainly using trading bot to buy/sell forex or any other markets so that the process is automated and can be 24/7.
Well, FX markets are only 24/5, so that's one problem there. Anyway...

Before I explore the trading bot aspect further, I would like seek some advice from the enlightened ones here.

Anyone here has experience with trading bot? Any comments?
No. "Forex trading robots" are all lies. If anyone had an FX trading strategy that worked, they could make a hell of a lot of money by taking it to a hedge fund and scaling it up trading other people's money.

We've had a few people come through here claiming they have a magical money-pooping robot. It's either a lie, and they throw a tantrum when I call them out; or it's not exactly a lie, but it's a trading strategy that has a whole lot of small wins (so they think it's a winner) followed by one gigantic loss that inevitably wipes their account.

"Grid trading" strategies, or anything that doubles up to make up losses, are a good example of the latter. At first, these look great, because they have a lot of small wins... but basically, it's like going to the roulette tables, betting on red, and doubling up every time you lose money. You'll inevitably run out of bankroll, and the casino will take all your money.
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