QUESTIONS · 30 PAGES
Questions people ask before buying a trading bot
Each of these leads with the answer and qualifies it afterwards. Several of the answers are unflattering to this product, which is the only way a page answering “are trading bots profitable” is worth reading.
All questions30
- Are trading bots profitable?Some are, most are not, and the ones that are profitable produce modest returns with real drawdowns rather than the figures used t…
- Do AI trading bots actually work?Most products marketed as AI trading bots are conventional rule-based systems with the label attached. Genuine machine learning ap…
- Are forex trading bots legal?Yes. Automated trading is legal in every major jurisdiction and MetaTrader ships with the tooling to build it. What varies is whet…
- Can you use an EA on a prop firm account?It depends entirely on the firm. Many permit Expert Advisors, some prohibit them outright, and several allow them on funded accoun…
- What account size do I need to trade gold with a bot?There is no single figure, because the answer depends on your stop distance. The binding constraint is the 0.01 minimum lot: at th…
- How much should I risk per trade?One to two percent of account equity per trade is the conventional range and it holds up well. At 2%, ten consecutive losses cost …
- Do I need a VPS to run a trading bot?You need one if you want the bot to trade while your computer is off. An Expert Advisor only runs while MetaTrader is open and con…
- Can I run a trading bot on my phone?No. The MetaTrader mobile apps for iOS and Android cannot run Expert Advisors — that capability exists only in the Windows desktop…
- How many trades a day should a trading bot take?There is no correct number, but frequency and selectivity trade off directly against each other. A selective gold system may avera…
- Should a trading bot run 24/7?Continuous uptime is desirable; continuous trading usually is not. Liquidity, spread and volatility vary enormously across the day…
- Why is my trading bot losing money?The four causes that account for nearly all of it are: the strategy was overfitted to its backtest, costs were not modelled, the m…
- What is a good win rate for a trading bot?Win rate alone tells you nothing. At a 2:1 reward-to-risk ratio, break-even is about 34%, so a 40% win rate is a working system. A…
- Is gold a good market for automated trading?Gold suits automation well because it moves enough to pay for the spread and it trends cleanly during liquid sessions. The trade-o…
- Is scalping gold profitable?It can be, but the cost arithmetic is brutal and it is where most gold scalping systems fail. On a $3 target at 0.10 lots, a $0.30…
- Can a trading bot blow my account?Yes, and faster than manual trading can, because a bot applies a bad rule tirelessly and without hesitation. The mechanisms are al…
- What happens if my internet goes down while the bot is trading?Open positions keep their server-side stop loss and take profit, so they close normally without you. What stops is everything else…
- How long before a trading bot shows results?Longer than almost anyone wants to hear. A system averaging ten trades a month needs several hundred trades before its win rate st…
- Do I need to know how to trade to use a bot?You do not need to be able to find trades, but you do need enough knowledge to size the account correctly, judge whether a drawdow…
- What is the difference between an EA and a trading bot?In practice they mean the same thing. Expert Advisor is MetaTrader's specific term for an automated program running inside the pla…
- Why do most trading bots fail?Overfitting is the largest single cause. A strategy tuned until its backtest looked good describes one period of history rather th…
- Is copy trading profitable?For a minority of subscribers, yes. Most lose, for a structural reason rather than a run of bad luck: leaderboards rank providers …
- Is copy trading safe?It removes your decision-making, which is not the same as removing risk. Copy trading reproduces the provider's risk on your accou…
- How do I know if a trading track record is real?Ask for read-only account access rather than a screenshot. A third-party service reading the account directly proves the trades ha…
- What does "verified" mean on Myfxbook?It means Myfxbook connected to the account and computed the statistics from its real trade history rather than the owner typing nu…
- How much does copy trading cost?Usually ten to thirty percent of profits as a performance fee, occasionally up to fifty. The rate matters less than whether it is …
- Can I copy trade with a small account?Usually yes, but below a few hundred dollars the broker's minimum lot size stops the proportional sizing from working. Your positi…
- Why do my copy trading results differ from the provider's?Because you filled at different prices. The provider executes first and you execute after, so the same trade list produces a diffe…
- Are gold trading signals worth it?As education, sometimes. As a hands-off income source, rarely — the gap between the published entry and your actual fill removes m…
- Can you copy trade on Exness?Yes. Exness runs its own Social Trading service where you can follow a strategy provider from inside your account, and MetaTrader'…
- What is a good maximum drawdown for a trading account?Under 10% is genuinely good and rare. Ten to twenty percent is normal for a working retail system. Above thirty percent, the recov…