An automated trading bot is a program that automatically places and manages trades on your behalf based on a set of predefined rules or algorithms. It can analyze market data, open and close positions, and apply risk management — all without human intervention once it's running. Note that you can still close the opened positions manually and continue trading manually while the bot is running.

Manual trading requires you to monitor the markets and execute trades yourself. A trading bot, on the other hand, follows a programmed strategy 24/7, without emotional influence or fatigue. This allows faster execution, more consistent decision-making, and the ability to trade across multiple markets simultaneously.

In general, you do not need prior coding knowledge to use bots. Any of the bots you add from the marketplace are ready to run without any coding knowledge needed.

No trading bot cannot guarantee profits. Markets are unpredictable, and all trading involves risk. A well-designed bot can help execute a strategy consistently, but performance will still depend on market conditions, your broker's execution quality and how risk is managed.

Bots can be started on any of the instruments offered to you by your broker. Whether they will be profitable or function the same with every instrument depends on the bot.

To use TradeLocker Studio's bot features, you need to download the TradeLocker desktop application and access your linked trading account within the app to build, backtest, and launch any community or custom-coded bots

For your trading bots to operate effectively, they run directly on your local machine, trading on one of your accounts. This means you'll need to keep your computer on, awake, and have the TradeLocker window open. Simply stay logged into the specific account you want the bot to trade on, and you're all set!