March 22, 2021

BOTS Blog: Day trading or algorithmic trading, which is better?

BOTS is going to turn the world of investing upside down. Algorithmic trading will become available to everyone in the world, not just the richest 3% in the world. To help you get started with the BOTS app, we've created some informative videos for you.

BOTS Blog: Day trading or algorithmic trading, which is better?
BOTS Blog: Day trading or algorithmic trading, which is better?

What's BOTS?

The BOTS app is an open platform on which expert developers offer their bots. These bots invest for you. They make their choices based on artificial intelligence, machine learning and algorithms. So bots are actually automated trading strategies.

With our app, the best trading strategies are now available to you. And not only for the richest 3% of the world. In this way, together we will turn the world of investing upside down and make it fairer and more transparent.

Day trading or trading via an algorithm

Meanwhile Simon knows that there are two popular ways to trade: day trading and algorithmic trading. Today he's going to list both ways to see which one suits you best.

In case of day trading you're going to work all by yourself (or you're going to let somebody do it for you). In any case you rely on human actions. You can also choose to trade with algorithms and put your trust in artificial intelligence and machine learning. Both ways have advantages and disadvantages. Simon sums them up for you.

Day trading

Day trading is a very popular way to get the highest possible return on your investments. Although some people would like to have you believe that day trading is easy, the opposite is true. It's a complex way of gaining returns which isn't the best available option for everyone.

The secret of successful day traders

The internet is full of them: success stories of day traders who have become very rich. Simon wonders whether it is really that easy or that there might be a catch. He decides to consult a number of experts.

One of these experts explains, "Truly successful day traders are simply very, very good at what they do."

What Simon also noticed is that many of these successful day traders have now found another form of income: selling courses on trading. Both live and online.

Although Simon believes that there are probably really good day traders out there, but they generally don't seek out the publicity. Think about people like Ross Cameron, Sasha Evdakov and Steven A. Cohen. The best day trader in the world is George Soros, with an estimated wealth of $8.6 trillion.

All profits which these day traders are making, are mainly the result of hard work. And that hard work consists of full-time day trading for quite a number of years during which you're also going to lose a lot of money. Only this way you'll get better and better at handling the markets and eventually you'll be able to earn your money with them.

Basically day trading is based on statistics. And also in statistics there can be someone just being lucky, but if you really want to become good at it, you need a tactic. Without good tactics you'll never be financially successful.

Many day traders are in contact with psychologists to learn how to control their emotions so they can react calmly to a fluctuating market.

Trading with an algorithm

Personally Simon has no time, and also no desire, to become a trading expert in this way. That's why he trades with the BOTS app. The BOTS app uses algorithms which automatically trade for you. These algorithms have been developed by day trading experts as a result of which they can literally (and improved) take over a tactic.

The bots in the BOTS app obviously don't know emotions, so they are able to make the best trading decisions for you. So it doesn't cost you any more time or effort to trade.

The downside of the bots in the app is that they really only do what they are programmed to do. People get a lot more information to them and will therefore make decisions faster.

This is also the reason why big banks in investment companies use algorithms to trade with, but there are always people watching from behind their computers.

Of course this choice for day trading or algorithmic trading is entirely up to you. You'd do well to take into account your own risk profile, the time you're willing to put in and of course the amount you're willing to invest.

Investing is for everyone

Everyone should be able to invest. And now they can. With BOTS. Are you interested, but your question hasn't been answered yet? Take a look at the FAQ's on our site. Or contact us, we will gladly explain it to you in person.

Need any help with anything?

If you still have questions about the BOTS app, do not hesitate to contact our support department.

On our YouTube channel you will find other instructional videos that might help you further. You are also very welcome on our Discord channel.

The BOTS app is now live

Download the BOTS app on your mobile phone today! For Android click here, for Apple click here.

There is no such thing as risk-free trading. It is possible to lose (part of) your stake.