In today’s world of competition, there will not a single field in which a coaching class or training session is not available. Gone are those days when coaching means for getting high ranks in competitive exams and entrance tests. When we have skill development programmes, entrepreneurship programmes and personality development classes, you can also easily get a training class in designing an automatic trading robot. If you are an Internet reader, then results are cent percent.
The following are some tips that have to be either excluded or included while you try to create a trading software on your own:
- Carry out research for understanding the supporting software and applications associated with the robot you intend to build. For example, you design the Bitcoin Code that is fully compatible with the Mac operating system and configurations of your own system. How will the same code perform in a completely unrelated system environment?
- Design for versatile use on time. Your robot should attract traders because of its versatility. If you stick on to one type of investment, say, short-term equities, you will lose your customer base fast and traders tend to become experimental with time and experience.
- Have a diverse focus on results. Try to include different types of positive results, for example, higher return on investment, higher payoffs and higher success rate into a single trading robot. Now, you are attracting more profit or more traders with different objectives.
- Create a flexible user interface. When you or a trader is using the robot, there may be times when the human user decides in a different position than the software. If the suggestion can be accepted and analyzed for the result in real-time, two brains are at work simultaneously.
Some do not’s:
- Do not build your auto trading bot on any platform just because of its name, recent introduction or your random selection. Support factors, encryption security, and flexibility are very important.
- Avoid heavy back-end developing programs while creating the robot. This will cause you difficulty while updating the software later or rectifying any shortcomings based on feedback.
- Do not portray a feeling of leverage-focussed trading decisions when the robot is being used by another trader. For example, there is a trend to collect different commissions based on the nature of the asset traded. The user can think that the software is biased for the assets with higher leverage. An ideal robot should make the trader’s job easy and also give him his desired results.