A detailed overlook on Automated Day Trading
How does it feel when you simply sit and relax on a couch, sipping a cup of coffee, when the trading software does the trade efficiently for you? Super cool, right? This is what automated day trading is about. It has been reported that around 75% of stocks and shares trading taking place in US exchange market emanates from automated robots.
We are free to decide on our own strategy and policy. These will be efficiently programmed into software which actually trades for us. Different varieties of sophisticated trading software like Bitcoin Code, that favors bitcoin trade and exchange are available in the market. Every bot is designed taking customer’s requirements and expected results in consideration. Even the entry and exit points are straightforward, which means it automatically quits once the trade crosses a proposed border.
Once the programming is successfully done, the buy and sell is automatically initiated. The market conditions are consistently monitored and profit targets are created by default, as dictated in the algorithm. They also compare the current trends with the previous results and performs impeccable trade.
What should we do?
Firstly, we should convince our self why automated trading tools are relied on for day trading. Next, we should find the right bot that caters to our needs.
- Create your own software: This is pretty difficult but not impossible. The prerequisite to creating one’s own software is the in-depth programming knowledge. One should be completely thorough about the whole system and its functioning.
- Seek the assistance of a coder: In case if the trader is not a potential programmer, he can consider hiring a programmer. Once we dictate the strategies that are to be imparted in the automated software, the programmer effortlessly writes the code and set the whole tool. But hiring could be expensive and the software can be fully relied on after a series of trial runs.
- Buy an automated tool: The best option would be buying automated software according to the needs. A lot of online reviews and testimonials are posted on the official websites of the tools. This helps one to choose the best robot that satisfies their criteria.
Automated software is a great way to reduce trade time and human dependency. One can expect consistent performance from these tools. It minimizes human stress. These tools impart diversity by facilitating the adoption of multiple strategies through multiple trading accounts.