With nearly 6 months completed using algo trading bots, this is where I find myself:
- I am using 5 bots from 3 different suppliers. The most recent bots were added just yesterday, so I don’t know if they’re a good addition yet.
- Of the 5 bots being used, 2 of them trade gold exclusively. The other 3 are trading Forex.
- I have 3 VPSes to host my algorithmic trading bots. I was told the two most recent bots could live on an appropriately configured server.
- One of my other VPSes has two bots within the same trading software. When I started, these bots had their accounts to trade in. With the shared account, I can raise the lot sizes traded, meaning more profit per trade. (These bots are the Gold Digger and the Fed.)
- I am working on getting my second broker account set up. As I plan on adding additional bots, I want to spread out my risk and not have all of the bots living at the same trading company.
- Eventually, wiring money to foreign countries is not as scary.
- I am not sure what the right price is for a new bot, but I am dollar cost averaging in.
- Bot providers usually charge upfront and then a monthly fee. I want to find good-quality bots that don’t require monthly payments.
- I have learned to accept drawdown for what it is: a way for the bot to break the monotony between less active trading.
Despite the knowledge gained, I am sure I will learn some new lessons to include when I provide a future update.
