3 Things No One Ever Told You About Trading Robots
Trading robots: love them or hate them, they are a hot topic in today's stock market.
They can make or break your investing strategy and your wallet.
For the new investor, they can be very helpful indeed when you are learning the ropes of the stock markets.
But don't be fooled by the adverts touting claims such as "I earned 100k in 30 days".
Here are 3 things that you should know about trading robots before you buy.
1.
There are hundreds and hundreds of trading robots on the internet today.
Some good, some bad, some downright awful.
Some range from under $100, others can be in the thousands of dollars.
It's really important to do your research thoroughly, before you put down that credit card.
Each trading robot is generally the same in regards to what it does, what makes the difference is the fine tuning of the algorithm that can produce positive results.
The main problem with trading robots in each market is that stocks fluctuate (no surprise there!) and the robot must be in tune to compensate for each fluctuation.
It must be intuitive enough to know when to trade, when to stop trading and how to read your parameters correctly so that you end up gaining and not losing money.
Read the sales page of each trading robot thoroughly, you want to look for regular updates on the software, proof of earnings via screen shot or real-time screen shot can be helpful also.
Lastly, do your due diligence by searching via Google, forums and blogs.
2.
Here's our number 2 tip for trading robots.
Educate yourself first in the market you want to trade in.
You wouldn't buy a brand new Beamer and start driving it without familiarizing yourself with the car, and most importantly how to drive it.
The same goes for trading.
Learn the ropes first before you bring a trading robot into the mix.
There are hundreds of free resources that you can use for educating yourself.
Just enter your search term into Google and the world is your oyster.
Ask questions, participate in forums and absorb as much as you can.
Learning your trade, so to speak can greatly help you in fine tuning that trading robot to your advantage.
3.
Our last tip for trading robots is to pick a market that consistently fares well with the use of automated software.
By far the most popular market type is FOREX (or foreign exchange market).
A quick search will show that there are hundreds of trading robots for this market alone.
Other markets include traditional stocks, commodities and the gold market.
As always, be sure to do your research thoroughly and educate, educate, educate!
They can make or break your investing strategy and your wallet.
For the new investor, they can be very helpful indeed when you are learning the ropes of the stock markets.
But don't be fooled by the adverts touting claims such as "I earned 100k in 30 days".
Here are 3 things that you should know about trading robots before you buy.
1.
There are hundreds and hundreds of trading robots on the internet today.
Some good, some bad, some downright awful.
Some range from under $100, others can be in the thousands of dollars.
It's really important to do your research thoroughly, before you put down that credit card.
Each trading robot is generally the same in regards to what it does, what makes the difference is the fine tuning of the algorithm that can produce positive results.
The main problem with trading robots in each market is that stocks fluctuate (no surprise there!) and the robot must be in tune to compensate for each fluctuation.
It must be intuitive enough to know when to trade, when to stop trading and how to read your parameters correctly so that you end up gaining and not losing money.
Read the sales page of each trading robot thoroughly, you want to look for regular updates on the software, proof of earnings via screen shot or real-time screen shot can be helpful also.
Lastly, do your due diligence by searching via Google, forums and blogs.
2.
Here's our number 2 tip for trading robots.
Educate yourself first in the market you want to trade in.
You wouldn't buy a brand new Beamer and start driving it without familiarizing yourself with the car, and most importantly how to drive it.
The same goes for trading.
Learn the ropes first before you bring a trading robot into the mix.
There are hundreds of free resources that you can use for educating yourself.
Just enter your search term into Google and the world is your oyster.
Ask questions, participate in forums and absorb as much as you can.
Learning your trade, so to speak can greatly help you in fine tuning that trading robot to your advantage.
3.
Our last tip for trading robots is to pick a market that consistently fares well with the use of automated software.
By far the most popular market type is FOREX (or foreign exchange market).
A quick search will show that there are hundreds of trading robots for this market alone.
Other markets include traditional stocks, commodities and the gold market.
As always, be sure to do your research thoroughly and educate, educate, educate!