Trading Bots – Why You Might Not Need Them After All
The internet makes it easy to obtain information. But there are numerous misleading articles that might lead to making the wrong judgments. Trading is one area that has been revolutionized by the internet. But a lot of misleading information has been spread about trading and the various trading methods as well. People also have gotten the fear of missing out and try several trading strategies merely because people everywhere are trying them. Take the use of trading bots for example. There are some people who use them even without knowing what these bots really do. Trading systems like Infinity App make use of the ignorance of such traders. Infinity App software talks about offering various features. But this is an app that stopped supporting its users due to a lot of technical issues it faced. Many such trading systems are built on codes that are not very robust. You might not know about a trading bot without actually using it. There are many reasons why people get fooled by the false advertising and fall for the trap laid by trading bot developers-
Media can be manipulative
When you choose a trading bot for the first time, how do you judge it? You might be viewing the actual website and reading the information that it contains. Then you might look for reviews from users and talks about the bot in the user forums. But do these reviews really give you an honest picture of the bot? Is there any assurance that these reviews are from actual users? The internet, social media, in particular, can be manipulative. It can spread even a false information virally and make it appear like it is genuine. Buying followers on social media, increasing the number of likes and shares can all be done with the help of bots. If that is the situation how can you fully trust the information you find on the social media to judge a trading bot?
Historic data is not everything
Most trading bots are simply tested with historical data. A smaller dataset would not capture the real efficiency of the trading bot. Some trading bot websites even fool you with simulated results that are not even genuine outcomes from the bot.
All logic and no emotions is not a good strategy
Finally, a bot is totally unbiased and works purely on the logical reasoning. A little bit of emotional intelligence in your technical analysis backed up by a strong fundamental analysis is the most robust and dependable trading strategy. This is not offered by a trading bot.