Links
🎓

Why Automate?

Benefits of Using Automations vs. Manual Trading

Trading in the stock market requires sharp analysis, quick decision making, and often, a lot of time. Automations can help streamline this process, offering several significant advantages over manual trading:

Consistency and Discipline

Automations operate on pre-set rules, ensuring a level of consistency and discipline that can be challenging to maintain in manual trading. Emotions can heavily influence trading decisions, leading to potential errors or risky moves. Automations remove this emotional element, executing trades based purely on data and your predefined strategy.

Efficiency and Time-Saving

Monitoring the markets for trading opportunities can be a time-consuming task, especially for day traders. Automations can scan and analyze markets 24/7, freeing up your time and ensuring you don't miss out on potential opportunities, even when you're asleep or busy with other tasks.

Speed and Responsiveness

Financial markets can move incredibly fast, and sometimes seconds can make a difference. Automations can execute trades instantly when the set conditions are met, ensuring you don't miss out on opportunities due to delays in manual order placement.

Ability to Backtest

Pluto allows you to test your automation on historical data. This backtesting ability helps you refine your strategy and gain confidence in its potential effectiveness before deploying it in the live market.

Risk Management

With the use of shields (risk controls for your strategies and portfolio), you can preset certain conditions to protect your investments. For example, if a trade is down by a certain percentage, the automation can sell the position and stop trading that asset for a set time period.

Scalability

Automations can manage multiple trading strategies across various assets simultaneously. This ability to scale can be a significant advantage for those looking to diversify their investments.
By integrating automations into your trading, you can leverage these benefits while still maintaining control over your trading strategy. It's like having a personal trading assistant that never sleeps!