What is a trading bot
A trading bot is a program that trades or provides trading signals and runs on the computer through a trading platform. A trading bot can place and manage trades automatically without user input.
Are trading bots legal?
Trading bots are legal as they are simply programs that allow the trader to trade automatically based on a predetermined set of rules written in the program.
How do you make a trading bot?
You can make a trading robot by writing code and installing that code into your trading platform. You might need to learn to code first though, or hire someone that can write the code for you.
Do trading bots make money?
Trading robots can make money if they are running a profitable system. A trading bot simply trades the market just like a human would, only a set of rules are laid out and followed exactly as the code outlines. If the trading strategy works, the bot is successful and could make money. It is more about the strategy the bot uses rather than the bot itself.
How much money can a trading bot make?
A trading bot can make as much money as a trader, there isn’t really a limit other than the market, the strategy and a range of other factors that come into play with general trading.
Step by step guide to building a trading robot
There is a step by step guide on creating a trading bot HERE so please take the time to go through the short course. It will cover the basics of creating and running the trading robot, then you can go onto the next courses to get more advanced.
How to add a trading robot to MT5
Adding a trading bot to MT5 is as simple as going into the data folder, finding the EA folder and drag and drop the EA from your own files into this MT5 EA folder. Refresh your navigator section and check the Expert Advisor area. Drag and drop the robot into the chart you want to use it on and check the settings that pop up. Remember the AutoTrading button needs to be on (green play symbol).
Make a metatrader bot
To make a metatrader bot, head to our course section which will help you go from the very beginnings through to more advanced coding and strategy.