The Long Game With
Trading Bots

Once you have a good trading bot, it is important you keep the long game in mind at all times. Doing the simple things correctly, let the bot do it's thing and compounding your gains for long term success.

What you should know already:

Checklist - Let’s go over what you should know or be doing now that you have had your bot up and running for a month or more.  I do or have done all of these things and recommend to others.

  1. Demo the bot, learn how to run it
  2. Know the important Margin Level % levels.
  3. Checking your bot on a daily basis (mobile app is fine)
  4. Know how to monitor your bot and when it reaches important levels know what to do
  5. Overall, do not invest more than 5% of your net worth into bots.
  6. Start first with a small amount of your total planned equity into bots (10-20% of  5%) 
  7. Understand there will be periods when the market is low volatility and your return could be in the 5-8%/month range and this is okay.
  8. Going outside of recommended lot sizes increases your risk. Short term it may work to increase your returns, but long term you could blow your account
  9. Use an Equity Protector bot. Protect you equity, markets can be unpredictable

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The Long Game

So far I see no reason why forex trading bots would not work for as long as forex can be traded. But we all agree this is risky, and here is what I am doing to mitigate some of that risk and enable myself to be in the game for as long as possible.​

Here is my thinking and what I am currently working towards:

  1. Multiple bots – This is to help smooth out and help increase my overall return. 
  2. Multiple Time frames bots – On low volatility days, a bot on M1 time frame will still trade, whereas a bot on a higher time frame may not. 
  3. Multiple products traded –  I am looking for a good gold bot or perhaps a bot that runs specific pairs on a specific market opening hours  (ie Japan) for diversity. Maybe a crypto bot as well.  
  4. How Many bots Should I Run – I am thinking of running 4-5 bots eventually is a good number to manage. 
  5. Multiple VPS – I don’t want a single point of failure running bots, I run 2 VPS with 2 different providers. 
  6. Multiple Brokers – This is not easy if you are a USA citizen, but do what you can to have multiple brokers. 
  7. Pull out equity – Pay yourself back the original equity invested and just use house funds going forward.