Having decided to embrace the new NURP bot, Dalio Low DD, into the bot farm, I needed to check all the boxes before I flipped the “switch.”
- I needed to have an available trading account. Additionally, Dalio uses MT5 (all of my other bots are MT4). Fortunately, I have a place at OX Securities for Dalio to make its home.
- I had some CDs maturing, so they provided the necessary funds. I found out Chase limited the size of a wire to OX Securities to $50,000/day. Because of step 3, this delay is fine.
- The NURP licensing process is based on the account number at OX Securities. I have completed the required form and provided NURP with the correct account number. Now, I may need to wait a couple of days to get the Dalio license.
- The VPS (Virtual Private Server) does have some flexibility. You can do the “every bot gets its own VPS” or “a hefty VPS can be the home for 2 -3 bots.” There is no wrong answer UNLESS your bot misses trades because of the limited bandwidth available on the VPS.
- NURP does offer the “we do it all” service when setting up your new Dalio bot. But, due to limited resources and heavy demand, they offer videos showing you how to “self-setup.” If this is not your first bot and you check your accounts via your computer, it is not very difficult to do.
- Once the above steps are completed, click the “AutoTrading” button. You have now given your bot all it needs. It has a barn (VPS) to relax in when it is not farming in the field. (Your trading account.) I don’t pay it to relax. 😉
It baffles me that people continue to pour money into these things. A few years ago, these “bots” ( expert advisors or EAs) used to sell for 100 bucks). Now the Gen Z kids have rebranded these EAs as “Algo trading” and they are selling these EAs for 10K-20K USD. People using these things are in for a nasty surprise. These systems are nothing but martingale and grid systems that continue to mindlessly place trades with increasing lot sizes hoping the markets would reverse. It’s also really sad to see that so many people who have no idea about trading have been led to believe that these EAs are intelligent algorithms when in fact they are simply 20 year old martingale/grid systems. The Wall street uses algorithms to place trades efficiently not to determine when to buy or sell.
They aren’t for everyone. It sounds like you have far more experience than I. I hope your chosen investment vehicles are working well for you.