Types of Trading Bots
Bots are classified by strategy: trend-following (using MAs and MACD), range (buying support, selling resistance), scalping (dozens of small trades daily), and news-based (opening at macro data releases). MetaTrader 4/5 with MQL is the standard platform, with cTrader (C#) and Python as alternatives.
Visual strategy builders allow non-programmers to create and test bots without coding, democratizing algorithmic trading for retail participants.
Testing Before Going Live
Backtest on 3-5 years of historical tick data including crisis periods. Use walk-forward analysis to validate robustness. Forward test on demo for 1-3 months to observe real-world behavior before committing capital.
The bot marketplace in MakeTrades offers verified strategies with transparent performance stats.
