Is it time to turn to a bot?

A bot is a virtual robot, which performs simple repetitive tasks for you. Bots are used in trading to perform trades without human interaction. Whatever online task a bot does, if the task is simple and predicatable then you should be using bots for all of those online tasks and not just in trading.

Time means money and wasting time doing things yourself will cost you money in the long run. Bots increase your productivity. When should you decide to use a bot for your trading? Ask yourself this simple question, "Is my trading algorithmic, predicatable and profitable?" If you can answer 'yes' then you should be delegating tasks to a bot. If your answer is 'no' then you might consider a halt to your trading for obvious reasons.

Why trade one market at a time when one or more bots can be looking at all markets simultaneously? This is called scaling, through which you earn money from multiple sources in parallel. Wealthy people have scalable jobs, the poor do not. Not only that but you are diversifying your risk, which can only be a good thing.

If you find yourself doing the same thing when successfully manual trading then you should have a bot trading for you so that you can earn money elsewhere. If the entry and exit points for your trades are profitable and can be described algorithmically then you should give those trades to a bot whilst you design an entry/exit pair for another market

There is commercial bot software out there but for sports trading I find most of the software useless and so I code my own bots. But do have a trial run with the commercial software and see what it can do for you and what it cannot. Build a list of requirements and see what is out there that will satisfy those requirements. If you can't find what you are looking for then either code your own or pay someone to do it for you. An investment that is sure to pay you a handsome return.

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