Creating one’s own trading bot has never been this simple and effective.
Most important is the fact that any trader can transform their own peculiar trading strategy into an automated system without any special expertise that is beyond typing in plain English.
Bots are computer algorithms that are programmed to execute automatically when certain predetermined conditions are met. In the ecosystem of electronic trading, bots are employed to stand-in for humans who may not have the capacity to monitor the markets round the clock. Also, certain human elements such as fatigue and distractions may lead to inaccurate judgements that affect the success rate of trading.
The essence of trading bots
These bots exist to carry out disciplined emotion free trading routines that can work round the clock with a consistent level of precision. They simply use computer programming language to execute the trading strategies and ideas of their creators under specific parameters within which they are programmed.
Normally, what comes to mind whenever bots are mentioned are complex computer codes put together by some sophisticated geek.
That’s exactly what Capitalise solved.
The platform allows anyone to transform their strategies into an effective bot by simply typing out specific instructions in plain English. In other words, no need to learn coding or be a programmer to build an algorithm.
The procedure of automating one’s trade on Capitalise is simple and straightforward, and only involves these few steps:
Describe an entry condition in the space provided. This can be done by typing in plain English, and using the adapted words and phrases that pop up right underneath the tab as shown below:
This step involves the conditions that must be met in order to exit a given trade. This is also written in plain English as shown in the example below:
For trades that are intended to be repetitive whenever the specified conditions are met, the “IN LOOP” button must be activated as shown in the following diagram. This means that whenever a particular trade closes, the bot looks out for when entry conditions are fulfilled again to execute another trade.
Having completely created entry and exit conditions for trades, the next stage shows the summary of these instructions and provides such options as the “LET ME FIX IT” button which allows traders to return to the instructions page to either edit, or change the strategy completely. The “RUN SIMULATION” button activates a risk free procedure that tests the created algorithm before deployment into real trades. Once certain of the created Algorithm, traders can click on the “CONFIRM” button which activates the bot.
Once the strategy is confirmed and activated, the bot will run continuously as long as the domiciled computer is powered until it becomes deactivated by the trader, or disconnected from the exchange.
This simplifies the trading experience to a large extent and eliminates the disadvantages caused by human interference, such as lagging trade execution and emotional attachment. These are factors that lead to losses and inconsistencies in trading habits.