This information helps you understand where software fits in trading. The main point for everyone is, does it help to make more money?
Thousands of people every day trade on the worlds stock markets, with the majority now using software to aid them, but does it help them make more money?
This software is known as a bot, short for robot, but it is only ever as good as the user. If the user does not know how to trade successfully on his own in the first place then he is unlikely to get instant profit from a bot. New users have to understand that it will take weeks to learn how to use a bot correctly.
I use the new bots on the block on a daily basis. Any professional trader should at least be aware of the existence of betting exchanges, and the fact they can turn over $Millions per horse race within a few minutes, and with the betting exchange allowing you to back (buy), and lay (sell) a horses odds, many new traders are springing up to take advantage of this with the use of betting bots. And the best thing is, you do not need any knowledge of the sport you are trading in. You can also trade on the majority of the worlds financial markets, such as the FTSE, NASDQ, etc, as well as currencies.
So are these new bots a license to print money? Depending on which one you use, as some are useless, and will see you lose money faster than if you were using a pin, but others stand out, and are put together by professional stock market traders. It is these bots that have the potential to make you money, and if handled correctly, plenty of it.
Most of the bots on sale focus on one aspect, whether it is trading, arbing, hedging or dutching, but there are a small number that focus on them all, and compared to the single function bots, are much better value for money. These multi-function bots allow you to find your niche in a competitive market, without emptying your bank balance.
It is also a misconception that you will start making a lot of money instantly. Even if the bot produced profits on a daily basis (which by the way, will never happen), you still have to limit trades to a fixed percentage of your betting bank, otherwise you will find yourself having no control over trading stakes. It is always best to start small, get the mistakes out of the way while it is cheap to do so, and when your stakes increase, you will have learnt enough from your mistakes to save money.
Some people click with trading straight away, others it can take weeks of staring at the graphs on the screen until the penny drops. Those that stick with it though, usually succeed, and a bot makes life so much easier.
So if you have the capabilities to profit from trading, then a betting bot may be for you, if you are looking for a quick buck, forget it.
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Depends on what your goals are as an investor. If you are ygnuoer and can take more risk, you can invest in more risky assets. If your investment horizon is shorter, you may want to invest in more less risky assets such as bonds. Its important to find the correct mix between them. A rule of thumb is to take your age and subtract it from 100. For example, if you are 30, you should invest 70 percent in stocks and 30 percent in bonds.Mutual Funds are a good investment for beginners, every mutual fund trades like a stock at the end of the day. Stay away from Mutual Funds with load fees, there are many that are offered commission free, depending on your broker. Each Mutual Fund also gives you the mix of assets it has (bonds vs. stocks). The more bonds you have, the less risk.For a beginning investor, a S P 500 Index fund would not be a bad idea. Its a fund of assets mixed together to mimic the returns on the market. You will not see abnormal returns over the market because the risk you take with this investment is relative to the index.Also, if you want to control your own investments, you should look into an online broker such as Sharebuilder, Etrade, Scottrade, and Ameritrade. Shop around for different features that work for beginners and find the cheapest commission. Good luck!
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