Updated: Feb 3, 2020
Yes, it does, but it depends on the trading operator. It is not possible for a trading bot to work 100% automatically. The reason is obvious, there is no machine out there that could compete with the human mind, not yet.
If you learn to setup and operate the autopilot system of a plane, do you believe you will be able to fly that plane? No, you won’t because you still don’t know how to fly manually. The same goes for auto-trading, 100% it is impossible. Even if one day planes fly from A to B completely autonomous, it will be not a 100% autonomy as there will be always an operator monitoring the process.
Robots are assistive devices; they are not here to replace human mind but to assist human in some parts of the trading process. There is no magic in any trading robot. They are programmed to read certain values of the current market situation and react on these values. If the market does something unpredictable, robots don’t know how to react, so in best case scenario, they do nothing, in a worst-case scenario they lose money. Having said this, it is possible to start a trading robot and go for surfing, when you are back, you will either find very little profit or a very big loss.
Automated trading is more complex than manual trading because automated trading adds a layer of complexity, setting up the bot, optimize it and operate it properly for the current market situation.
Nevertheless, automated trading it is generating a much more consistent profit over the time than manually trading and it eliminates the emotional part of the trading, as emotions in manual trading may destroy your account. So, if you know how to trade manually and you know how to setup your bot for the current market situation and you also know when and how to intervene when something goes wrong, you are good to go.
Using a trading robot to trade will save you at least 70% of the time you need to otherwise trade manually.