I've noticed that even when I have the right information or the right idea of what to do, I make a lot of bad trades due to emotion, so I've been thinking more and more about making a trading bot recently.
a bot is not going to change much. you can automate a lot of stuff but you still have to have a clear strategy and a good plan to stick to. it won't do if you have little experience in trading and have no idea what to do in different scenarios like when an unexpected dump happens.Well I think the point here is that in hindsight if i had made the trade as planned it would have profited, but due to emotion, i would trade when i shouldn't, or not make a trade I should because of fear. The point of a bot would be to execute those trades as planned without overthinking it or acting out of fear/fomo.
But the bot wouldn't be affected by FUD and or panic because of certain news, whereas people do. People panic = People sell = Price dips/crashes. Can a bot react to certain news? No it can't. News(both positive and negative) has the biggest effects on the markets in my opinion; a perfect example of this is the recent news about China banning ICOs and possibly exchanges(unproven). Just saying.
