This is the same friend who wanted to use his bot for supplemental income. After I told him about the Precision bot, he thought it might be a better fit for him. After I told him about the “crash” the Precision bot took last week, he was still interested. As I made almost every effort to talk him out of it, he has decided to go forward.
To convince me this is a better deal for him than the other bot he was considering, I have put together an updated income/expense chart. His goal is generating ongoing monthly income.
Justifying My Assumptions:
- Since the “crash” of last Monday, my bot has made no less than $78 to $165/day. At that pace, the bot would easily make 10% per month. But, not all days are winners. There is obvious optimism in the table, but based on my 3 weeks of experience, it is not completely unrealistic. I stress THREE weeks of experience.
- In the bot settings, the lot size would be set at 0.02. Large lot settings could bring greater reward, but they could also create greater losses.
- There are 20 trading days per month.
Even if gold has a couple of bad days in the month, the conservative lot size and the scalping techniques used by this bot should keep my friend in the 5% or higher range of this table. I hope it works out for him!
