Yep. Personally I set it so that it uses no more than 5% each trade, some people who trade manually say never use more than that which I think is a good measure.
A combination of automatic trading and manual trading often tends to be much better than just doing one of each.
My advice is to pick altcoins that are quite stable against btc or eth. don't pick a tanking/dying coin.
High volume usually has the highest importance.