Yes, trades bots work and are very efficient and accurate!
Overall, algorithmic trading aims to remove human emotions from trading decisions, execute trades swiftly, capitalize on market inefficiencies, and optimize trading strategies based on data analysis and historical performance. Trade bots work completely automated 24/7 around the clock. They are more effective than humans because humans require sleep.
There are 2 types of bots that are actively trading: automated rules and AI bots. Setting up a series of rules and building an algorythm is realtively easy to build and can be done in minutes. AI bots are more complicated but tend to yield much greater results. Our platform has been experimenting with neural networks and random forests for several years. From our research and the bots that we offer in our public library, they tend to have greater than a 90% accuracy.