Once someone has mastered the basics of trading, the biggest hurdle is actually finding good ideas to watch for a trade. Some people subscribe to chat rooms with other traders, some people like to watch real time news, and others like to program computers to scan the market or use a day trading robot to help them find ideas in real time to make money.
One of the key reasons to use a day trading robot is that it applies a set of formulas in exactly the same way every time and is unbiased by outside factors. The real key is finding a day trading robot that is reliable in its stock picks and is easy to use.This is of course no easy feat, because there are a ton of impostors and stuff that used to work but now is of little use because the market changed but the robot was not able to adapt.
One key component of any day trading robot that should be essential is the ability to find stuff in real time, but give you enough time to actually act on the information it provides. It does no good to use a day trading robot that scalps something so fast that you cannot even get an order in should you choose to follow what it is doing. Of course in this situation, you could just let the day trading robot trade your account for you, but I know a lot of traders are really uncomfortable with that notion and they like to retain control. In addition, there are always nuances that occur each trading day that a computer program cannot take into account but a human trader can.
Any trader looking to make use of a day trading robot to find ideas should realize the limitiations and use it as a great tool to find additional ideas to trade.It is fantasy land to expect a trading robot to be right 90-95% of the time, or for it to make 40% every month in your account.Anyone who has created such a tool would never in a million years license it or sell it because of the amount of money it would generate. This does not mean day trading robots are not useful, you just need to have realistic expectations to get the maximum usefullness out of them.
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