Trading bots FAQ

How much money does a trading bot make?

None. The bot operator does. A bot is programmed to do a specific operation (Open a trade close a trade, change volume, etc) when a specific market situation arises. Especially in leverage markets like forex, market situations are changing very fast, so it is the duty of the operator to decide when to close a losing trade previously opened by the bot.

How much money does the operator a day?

It is irrelevant. What is relevant is to win trades and end your day/week in plus or break even. From this starting point you can build up profit day by day.

But How much money does the operator a day?

If you do in average 0.5% of your actual equity a day, consider yourself as a super trader. If you make it 1%, then you are a trader God.

How much leverage should I use?

None is best. In general, with leverage you invest money you do not own. Leverage is been offered by brokers. There is 10 to 1000 leverage. Trading on a leveraged account can grow up your account very fast, but it also may empty it exact that fast. Traders using big leverage is because they got a small start capital.

How much starting capital should I have?

Depends on your expectations. If you are a beginner and want to gather experience, then you may start with $1000, by the end of the year, you may consider yourself as a winner if you turn the $1000 into $2000, that would be 100% gain. If you want to make a living out of trading, then it should be minimum $50k.

What is the most important skill a trader should have?

Winning mindset. Psychology is the most important part in trading, as traders feel losses twice as much as gains. Everyone can learn the technical part of trading. Some will need 3 months, others will need 3 years, but finally everyone is dedicated will achieve the goal to learn the technical part of trading. Unfortunately, this is not the case with the psychological part.

If you do not believe you will make it, you will not. If you believe you will make it, you will make it for sure.

Telling yourself 1000 times a day, “I am going to make it” does not work. You must somehow make yourself believe you will make it. Repeating 1000 the same sentence reminds you only that you do not believe. Find logical reasoning to convince yourself you will make it.

If you lose a trade and you feel like you just did brew a bad coffee, then you are on the right path.

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