Topic: If you had AI day trade bitcoin to make profits - page 3. (Read 738 times)
AI is not the good one for the day trading,because the AI trade based on your input.If the market undergo the sudden change the AI will trade in the loss.So it also made you get some loss,for the day trading you need to spend the time to analysis on daily basis.The point which suit to inverse is most essential one,because the day trading is purely based on the minor pump in the 24 hours of time.Even in the bear run,in some point the price increases for some point.The day trader will wait for that point to sell their holding in a same day.
It's not as great as they make it out to be. A few months ago news broke out of an AI trading bot getting a loan for a couple hundred million dollars only to end up with a 10 bucks profit.
AI trading bots are pretty much linear, they can only recognize patterns that will yield them profit, regardless of how much that profit would be, and sure some of them you can place a certain limit to reach before the bot calls it quits but for the most part (and I say this cause I've used a couple of them for kicks in the past), you'd be so addled with anxiety you'd be watching over the bot as it does its thing, and by then it would've been as if you did the trading yourself lol. So for the moment you might wanna hold off on the AI trading bot dream until such a time exists where these things are able to effectively trade as we want them to.
AI trading bots are pretty much linear, they can only recognize patterns that will yield them profit, regardless of how much that profit would be, and sure some of them you can place a certain limit to reach before the bot calls it quits but for the most part (and I say this cause I've used a couple of them for kicks in the past), you'd be so addled with anxiety you'd be watching over the bot as it does its thing, and by then it would've been as if you did the trading yourself lol. So for the moment you might wanna hold off on the AI trading bot dream until such a time exists where these things are able to effectively trade as we want them to.
If I actually found a way to use AI to trade bitcoin or whatever cryptocurrency or asset in general effectively, simple — why the heck would I tell anyone? I'd just use whatever method that is and use it heavily until it doesn't work anymore. There's no way that strategy would come out of my mouth.
That's exactly true for most of us. We don't need to advertise using AI if that is really working on our trades, because if we do that, it only sounded that we have intention to scam people and let them believe that it's really working for every trader. The fact that I don't want to be blame later on, that's why I don't see it's necessary to lie that AI can really be safe for our trades. 
How would one do so efficiently? I am very interested.
Using AI to day trade does not guarantee success and profits most especially for beginners who jump into day trading without sufficient experience. However, if you are an experienced trader and have gained adequate knowledge and skills as a trader, and you've honed working strategies to rely on, probably using AI will give you easier and bigger profits. But still, this does not apply to all types of traders. 
The thing about AI is that it uses information that is in the public domain, and if this trading strategy can be found easily on the internet means it doesn't work and am pretty sure most people are looking for such a holy grail of trading 
& why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??
The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
& why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
Agree on this mate. I wouldn't trust a bot to do the trading as well. Maybe we can utilize it as a support for developing better strategies and doing analysis, but I will not fully rely to it. Remember that there can be still an errors or lapses on AI, so relying on it wouldn't help you that much and it can just possibly put you into harm and risks.
AIs are continuously evolving, which means that they are not yet fully developed. Also, when it comes in making decisions, humans and bots has a huge difference, and informed decisions are necessary for trading and it's not a good idea to have them decide for us.
So, do you want bots to make decision for us? especially if it involves money, I guess not.
The thing about AI is that it uses information that is in the public domain, and if this trading strategy can be found easily on the internet means it doesn't work and am pretty sure most people are looking for such a holy grail of trading & why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??
The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
That is also what I thought. Why we should trust these bots knowing that they are also reliant on us? In fact, if we really have to analyze it carefully, if these bots work efficiently, thousands or millions of people will use them and become rich but because they don't work as we expected, many traders prefer to do it alone rather than using them. & why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
Anyways, we are the ones who make decisions, and are also willing to accept whatever the results are - whether we lose or make a profit.
If I had AI that will make day trading highly profitable at a consistent basis, then I will never do manual trading anymore and stick to AI no matter what. However, that will only remain as a dream as no AI that can be highly reliable when it comes to trading. AI is computer generated so it won’t be able to succeed on such a highly volatile market. At the end of the day, only self trading would still come out as the best option to avoid consistent losses.
I agree here with what you mentioned, dude. The only thing I don't really understand is how they get profit from AI trading. even though they have no procedure to show that they actually made money from AI trading, nor can they even show how they set up a trading view using AI trading to connect it to the actual trading exchange platform to say that they really made money while they were here.
Except that they say the site platform, but there is no demonstration or tutorial on how to do it to achieve what they say is really profitable. The ones who say that come out are really just promoting or just hyping other communities here in the crypto space.
If I had AI that will make day trading highly profitable at a consistent basis, then I will never do manual trading anymore and stick to AI no matter what. However, that will only remain as a dream as no AI that can be highly reliable when it comes to trading. AI is computer generated so it won’t be able to succeed on such a highly volatile market. At the end of the day, only self trading would still come out as the best option to avoid consistent losses.
Even if a trader has such an AI which could trade on their place they will still need to do a lot of work, like keeping track of the performance of the AI and see if it is as good as you think it is, evaluate if the AI has not made a major mistake and if it did then you need to find out why that is the case, keep improving the AI so it gives you better results and more, so anyone that thinks they are going to stop working just because they created a trading AI is mistaken, and if anything it could be more work than just trading on your own. 
The thing about AI is that it uses information that is in the public domain, and if this trading strategy can be found easily on the internet means it doesn't work and am pretty sure most people are looking for such a holy grail of trading & why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??
The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
& why would someone put a working strategy out in the open when they can use this secret strategy to download money in silence ??The fact that there is money on the line, I wouldn't trust a bot to do the trading on my behalf, I would feel safer if I was at the wheel!!
Simply, I will always keep them and never share them to others. But we all know that AI trading is not giving us guarantees to make us consistent profits. Even our own trading skills cannot guarantee as well, but as long as you trade from your learned experiences in trading and apply them to improve your trades, then there will be at least guarantees to control your losses and increase your profits.
If I had AI that will make day trading highly profitable at a consistent basis, then I will never do manual trading anymore and stick to AI no matter what. However, that will only remain as a dream as no AI that can be highly reliable when it comes to trading. AI is computer generated so it won’t be able to succeed on such a highly volatile market. At the end of the day, only self trading would still come out as the best option to avoid consistent losses.
This whole AI bot trading is not going to work when it comes to crypto trading due to volatile market as bot has to be trained and crypto doesn't follow any particular market pattern and that's why most of the prediction goes wrong so it's not feasible to train the bot. I have seen more losers than winners in terms of AI based trading. Don't fall for their marketing strategy.
It is true the market is volatile and unpredictable, however there are human traders already making money in the markets, meaning that trading is a skill which can be taught and learned, and as such an AI could be as good as a human or even better, it is just that those that have trained an AI to be that good have no reason at all to share it with anyone, so the AIs you see out there being sold or sending signals are in fact the ones that do not work. 
This whole AI bot trading is not going to work when it comes to crypto trading due to volatile market as bot has to be trained and crypto doesn't follow any particular market pattern and that's why most of the prediction goes wrong so it's not feasible to train the bot. I have seen more losers than winners in terms of AI based trading. Don't fall for their marketing strategy.
How would one do so efficiently? I am very interested.
Day trading with AI will not really be profitable for you. no one will be held responsible except you yourself.
You may be interested in these technological developments, but training AI in the highly volatile crypto market will not be easy. I guess the results will still be random. this would be speculation. just like a novice trader without skills and knowledge.
never trade with such things, use your own resources to upgrade your skills in trading. This may not be instant, but if you do it consistently I'm sure you will realize the benefits in the future.
It might cause convenience but it will not guarantee consistent result. It will be random mostly unreliable if that's what we expect. There will still be good sides and bad sides for sure which we should ready about. As for me, it will be better to have enough knowledge and skills about trading so you can do it without relying too much on AIs. It will be better if you will take responsible for your actions and decisions because we can't deny the fact that AI intelligence still can't beat us especially when it comes to decision making. Learn and try to apply effective strategies so you could make good profit.
AI technology has made our work much easier, through AI technology we are able to do many difficult tasks easily. But even if AI technology is used in all tasks, I don't think it is a good decision to use AI technology in daily trading. A person who is very experienced and skilled about trading may be able to profit by trading using AI technology but ordinary traders or beginners will never be able to profit by using AI bot trading. We have to learn how to manage AI technology properly, if we do not have any idea or knowledge in managing AI technology then this technology can be dangerous for us. I always prefer to trade manually instead of using any kind of bot for trading. When a person trades manually he can understand the market and take any decision at that time which is not possible with AI technology. So we have to rely on ourselves as much as possible and learn to trade manually rather than using automated technology, but the risk of our money will be greatly reduced.
How would one do so efficiently? I am very interested.
Day trading with AI will not really be profitable for you. no one will be held responsible except you yourself.
You may be interested in these technological developments, but training AI in the highly volatile crypto market will not be easy. I guess the results will still be random. this would be speculation. just like a novice trader without skills and knowledge.
never trade with such things, use your own resources to upgrade your skills in trading. This may not be instant, but if you do it consistently I'm sure you will realize the benefits in the future.
If this is going to generate money easily, I'll find it very sketchy. Despite having the support of an AI, it's still a must to be knowledgeable about how to do it manually. But if someone proves that he's doing it, maybe there's a catch as that person should keep himself quiet and just enjoy what he's having. Anyway, are there really traders that are making their trades profitable with the use of AI? I don't quite understand how to do that since there are the features already from exchanges that allows you to trade with bots.
Most likely, trading with AI will only be profitable if the trader itself has high experience in trading, hence having high knowledge and potential skills when trading are also a must. Otherwise, if you are still a beginner trader and take risk trading with AI, it wont create guarantees that you’ll definitely be profitable in the end. And if ever AI trading bots are useful for them, I guess they will not care to share it with other traders but will chose to keep it on their own and make consistent profits. 
If you become dependent on the AI online, I will not deal with it, unless I'm the programmer who makes the AI to make my own trading so I can sure that all of the risk is in my ways, but I prefer using my strategy which is I'm the one who makes a trade base on my experience and knowledge we know we must take care with the emotions when we trade but sometimes its quite effective to risk. Also exchange or trading platform right now are offering with the specific position with the TP/SL so you can leave those trades open without hassle id rather prefer this and safe.
How would one do so efficiently? I am very interested.
Would AI actually work perfectly like that in trading? I doubt about the performance and the accuracy of tbe results consistency. There is something I need to get straight, is AI not the same thing as BOT actions and we have trading bots supported by some exchange like Kucoin and others but I'm nit sure about the efficiency of tbe result because I have not give it a try before to know if they are worth it or not but personally, they can only be profitable during bull run, I don't think if they are going to do much in this bear market, you will likely get nothing or more loss from your deposited capital.
To be honest, if AI intelligent that write are actually made to resemble lst event, if such algorithm is created in trading, hands will burn because history in crypto is always different, bull run of 2018 was different from that of 2020 and surely, 2024 is going to be different from the rest as well. Now I wonder if AI is going to work perfectly like this with post occurrence.
How would one do so efficiently? I am very interested.
I don't think this is going to work. Most of the AIs are all publicly accessible and if they really had an advantage over the human day trader, then all investors would be using them. There might be a difference between private AIs that have access to a lot of private information from brokers and exchanges directly, but I don't believe the general open AIs are going to revolutionize trading for the average investors. One question would be how the AI should learn to trade. In case he only works with past trading data and tries to find the optimal trading strategy, then this is nothing new. For 30 years already there has been algorithms that use technical analysis to find trend and trade on them. The other option would be for the AI to rely on current and forward-looking data, not using past trade prices. Here would be the question how reliable this is going to be. There is a lot of risk in using AI for our trading strategies, because we might not fully understand what the strategy is. Even if the AI does well at first, there is no guarantee that it will outperform the market consistently. I would be very careful to trust large sums of money to AI trading programs.
Jump to: