Topic: If you had AI day trade bitcoin to make profits - page 4. (Read 810 times)
I'm not into trading with bots, Afraid most of them can result in lots of losses. I prefer to trade on my own cause I will be able to control my risks and losses more than the Al. Recently watched a news where a trading firm lost up to 30 million dollars tradings with bots, Dont think anyone would like to put his money at risk that much.
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.
Even myself I won't be telling anyone because that is one of the reasons that it will be used by everybody meaning someone will prevent it and also we are now earning profit passively and living life to the fullest but we should go back to reality it is already possible but it ain't 100% winning because it is only based on historical data and it learns over time so for sure in the future it will already be foolproof and close to perfection.
AI is still in the development stage right now and I don't see anyone using it in trading others are just using bots that were just programmed to automate your trading which will soon be developed into AI.
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.
Even myself I won't be telling anyone because that is one of the reasons that it will be used by everybody meaning someone will prevent it and also we are now earning profit passively and living life to the fullest but we should go back to reality it is already possible but it ain't 100% winning because it is only based on historical data and it learns over time so for sure in the future it will already be foolproof and close to perfection.
AI is still in the development stage right now and I don't see anyone using it in trading others are just using bots that were just programmed to automate your trading which will soon be developed into AI.
If you can understand how AI works for trading, you may still have a chance to make a profit. But if not, you will not make a profit and might even make a loss.
The use of AI will also depend on market movements and I don't think AI can always replace the orders you set to follow market conditions. So you have to frequently check market conditions and change the settings in the AI to be able to make a profit.
But you should learn manual analysis and trading to have more opportunities to make a profit. Moreover, with market conditions always changing, we must continue learning to understand the steps we need to take based on market conditions. So whether you use AI or not depends on you.
The use of AI will also depend on market movements and I don't think AI can always replace the orders you set to follow market conditions. So you have to frequently check market conditions and change the settings in the AI to be able to make a profit.
But you should learn manual analysis and trading to have more opportunities to make a profit. Moreover, with market conditions always changing, we must continue learning to understand the steps we need to take based on market conditions. So whether you use AI or not depends on you.
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How would one do so efficiently? I am very interested.
I would say if you have some knowledge about trading then it is better to use these. Let's give another good example. Let's assume this AI is an expensive Mercedes car. You got it for free or what ever any person gifted you from somewhere. Now if you go to drive that car without knowing how to drive, I am sure your experience will not be good. Then the experience will be that both you and your car will be damaged.
Moreover, I give you another good idea, you go to AI chatgpt and ask him to answer your questions.
I asked see what the answer gave-
Quote from: ChatGPT-3.5
Remember, successful trading with AI requires a thorough understanding of both the technical and financial aspects, continuous learning, and a disciplined approach to risk management.
Additionally, be prepared for the possibility of losses and start with a cautious and well-planned investment strategy.
So the answer is here from AI. Additionally, be prepared for the possibility of losses and start with a cautious and well-planned investment strategy.
then these AI need really good data to pull specialized for AI.
I don't think general purpose AI like openAI's GPT would suffice in this matter, since the market movement is complex it needs to be standalone AI with data aligned for such purposes.
I think there has been many AI deployed just for that and many are still in development, make me curious how efficient they are after all such thing could be determined based on the profits it generate.
considering the fact that market always stray from general textbook guides i think the profit resulted more or less will be the same as those veteran traders, but its just hypothesis.
I don't think general purpose AI like openAI's GPT would suffice in this matter, since the market movement is complex it needs to be standalone AI with data aligned for such purposes.
I think there has been many AI deployed just for that and many are still in development, make me curious how efficient they are after all such thing could be determined based on the profits it generate.
considering the fact that market always stray from general textbook guides i think the profit resulted more or less will be the same as those veteran traders, but its just hypothesis.
How would one do so efficiently? I am very interested.
We can only know how efficient it is once we make an actual test. Familiar with such programs having an integration of AI specifically on day trading? It might be a risk though as day trading market behavior is unpredictable and even for a few seconds, expect a big chance in the trend.
Anyways, what's your reason behind the interest in using it? Want a passive income while just sitting and relaxing on your desk?
Trading should be handled and managed hands-on. If you will just depend on AI, I think that's more risky.
How would one do so efficiently? I am very interested.
Such a stylish way to create a thread with no content at all and have forum users keep it busy for you. Great are your ideas friend. I would have liked a little more direction other than a thread subject and just a line on interest and efficiency!Still, AI trading is something I’m not very much interested in. I mean, having something without some real emotions or works outside a program to control how my money works without me watching the charts isn’t something am cool with.
It gives me the chills of copy trading which I’ve never been a fan off. I get it I would be doing my analysis on this one and set my orders, TP and SL but, I’m more comfortable handling my trades when I choose to. If I don’t have that time to stay in the market or observe my trade at a distance, I stay off the market.
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This is why a lot of newcomers are getting this wrong. They thought they don't need to do anything and just deploy the AI.
What they don't know is they still need to program or set-up. They need to create, test and run those AI bots.
And if you have no idea about basic trading, how can you program your AI? You are just heading to bankruptcy.
So better equip yourself with actual trading skills and once you have sufficient skills, maybe you can create your AI trading bot to simplify your trading activities.
What they don't know is they still need to program or set-up. They need to create, test and run those AI bots.
And if you have no idea about basic trading, how can you program your AI? You are just heading to bankruptcy.
So better equip yourself with actual trading skills and once you have sufficient skills, maybe you can create your AI trading bot to simplify your trading activities.
People that are likely to land in the hot seat of losses in trading using those AI bots are mostly crypto newbies or new traders who are just looking for a possible and quick way of making profit. "They want to use an easy AI, make the profit, and get out." Lol, but it's not just easy. There's a saying that "in order to reap, you must sow." So, before anyone can trade perfectly with bots, you still need to get educated about trading because even those AIs make mistakes, and if you are not experienced in trading, how can you even be able to figure out when the bot is making a mistake? All I know, which is what I have said before and am still saying now, is that making a profit from trading is not as easy as watering a flower, so anyone who thinks they can make a quick profit from trading while using the AI bot should think again. There's no AI trader that has really been more efficient in trading than old and professional traders; if there is any bot like that, of course every trader around the world will want to use it. No one will reject what will help him or her earn more.
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.
If you're asking if there's anyone who's profiting from trading using AI, of course, there is and there will be. We all know AI is all the rage right now and it's about to get smarter than humans.
Using AI in trading as a trading assistant seems like a good idea, but we as the main traders still have full control.
What I know right now is that there is a new bot that is quite popular that provides information on what coins will be pumping high.
It's a kind of bot that gives a call for users to get in early and buy it because it has the potential to pump.
How would one do so efficiently? I am very interested.
I've never tried it, never wanted to. I always believe that why should I make someone or something else do a work that I can do myself and can do it more efficiently and perfectly than them? I'm pretty sure that if I learn the necessary skills and techniques, I can do the trading more efficiently than a bot and I will also be more confident and free of worries since I'll be the one managing my money and not some computer-programmed robot which doesn't understand risk or anything and will only act based on a certain criteria.I would never feel good if I left my money in the hands of a bot even if it's powered by Artificial Intelligence because I know I can manage it much better than it. So, people who are interested in trading should take some time, learn the skills, and do it manually instead of paying for a bot and letting it do everything.
AI day trading is very risky. Without adequate knowledge about this it will be very dangerous but now a lot of companies are running their company through bot creation and getting profit. But I would say before doing AI trading train this model according to previous history and rules. Otherwise you will face many problems because Bitcoin is very volatile. So trading is high risky investment so before any kind of investment whatever you use as here you telling about AI Iwill never prefer Ai trading in the beginning level.
How would one do so efficiently? I am very interested.
I don't think the AI trade method is profitable for earning bitcoin. Because the trading bot and AI are almost the same, the only reason there was AI trading is because AI became trending, so it seems that the trading bot just had an opportunity to get profit again through it.
Then those who say that it is effective are obviously just hyped by the majority who say that it is good to use AI trading. No one can even say that it is a guarantee to get Bitcoin earnings using AI.
I haven't used any AI or trading bot yet and like to trade manually. Have anyone used AI bot (paid or unpaid) worth to use it for day trading?
How would one do so efficiently? I am very interested.
No. Daily trading using AI is not good in my opinion, especially daily trading for Bitcoin.So far, there has been no intention to try using it on any coins in daily trading. Apart from trusting my own analysis more in looking at price indicators, daily trading is not an interesting activity for me to do.
The risks of day trading are the main reason I don't want to do it considering the market is very volatile at all times.
My answer is, it's not efficient. Bitcoin is for the long term not for day trading. If you are interested, hopefully you can find your profit target.
How would one do so efficiently? I am very interested.
I don't think the AI trade method is profitable for earning bitcoin. Because the trading bot and AI are almost the same, the only reason there was AI trading is because AI became trending, so it seems that the trading bot just had an opportunity to get profit again through it.
Then those who say that it is effective are obviously just hyped by the majority who say that it is good to use AI trading. No one can even say that it is a guarantee to get Bitcoin earnings using AI.
How would one do so efficiently? I am very interested.
It cannot be denied that AI trading bots can help us in carrying out day trades, increasing or getting profits. Moreover, this is a really paid AI bot which is already credible, it's not just the free ones that we use. Basically, once again, trading bots are a tool in trading, so we shouldn't use them as our only business in trading. In this case, we still need adequate knowledge and continue to update it when trading, so that we can truly optimize the function of the AI bot. Without adequate knowledge, the bot's performance or settings or management will not be effective and optimal, in fact will end in vain. So, don't ever think about AI, we don't need to do anything. We will still need ourselves to understand crypto, trading, the AI bot itself, and also various things related to crypto space. Apart from that, even though we use AI trading bots, we also have to be able to manage our own finances well, as well as the risks that we might still face in the future. The point is, don't be lazy because there are AI bots and leave everything to the AI trading bot. This would be unwise and not that optimal.
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 how a typical trader should be. If you are making a lot of opportunities from AI and is giving you exceptional profits, then you will never care to share it to others unless if you are not making a positive outcome from using it. AI will never be reliable and will never give you sufficient profits just like you think. Instead, it will only put your trades at high risk since you are dealing with a very volatile market in the first place. Normally, trading has never been so profitable for all traders, and there's no way you can just start using AI to make money from trading without having proper knowledge about trading Bitcoin. If traders were very profitable trading with AI, it definitely would not delay up to two months before it will dominate globally about the AI that has been able to make more successful trades than a real trader. I would say you should keep learning and improving your trading skills rather than relying on AI traders. But there's also this trading bot that allows you to set the buy or sell price of the asset you are trading, and it can just be automated to execute the trade for you, but that doesn't mean you will be making profit all day.
This is why a lot of newcomers are getting this wrong. They thought they don't need to do anything and just deploy the AI.
What they don't know is they still need to program or set-up. They need to create, test and run those AI bots.
And if you have no idea about basic trading, how can you program your AI? You are just heading to bankruptcy.
So better equip yourself with actual trading skills and once you have sufficient skills, maybe you can create your AI trading bot to simplify your trading activities.
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Normally, trading has never been so profitable for all traders, and there's no way you can just start using AI to make money from trading without having proper knowledge about trading Bitcoin. If traders were very profitable trading with AI, it definitely would not delay up to two months before it will dominate globally about the AI that has been able to make more successful trades than a real trader. I would say you should keep learning and improving your trading skills rather than relying on AI traders. But there's also this trading bot that allows you to set the buy or sell price of the asset you are trading, and it can just be automated to execute the trade for you, but that doesn't mean you will be making profit all day.
Hmm, interestingly, I haven't posted anything on this redundant topic yet; in fact, I think I may have overlooked it. Aside from that, OP, I think you should make a little more of an effort to start a new topic for the rest; in my opinion, AI is not yet able to handle trades of any time, but shortly, based on AI and our historical data, we will be able to trade with the AI on any timeframe, and even more efficiently.
But there are some issues with AI trading, and since the topic is redundant, the concerns tend to come up again and again, It can lead the market to lose the significant volatility factor, as the trading market is completely based on emotions and we can not bring the emotions in the AI, so far for the regular trading the AI can help in efficient trading. Let's wait for the AI to come up with the proper integration with the crypto trading market then we can discuss this topic in a more descriptive nature on experience for now I would like to advise my cello to focus on learning polishing if the trading skills rather than waiting for the shortcuts.
But there are some issues with AI trading, and since the topic is redundant, the concerns tend to come up again and again, It can lead the market to lose the significant volatility factor, as the trading market is completely based on emotions and we can not bring the emotions in the AI, so far for the regular trading the AI can help in efficient trading. Let's wait for the AI to come up with the proper integration with the crypto trading market then we can discuss this topic in a more descriptive nature on experience for now I would like to advise my cello to focus on learning polishing if the trading skills rather than waiting for the shortcuts.
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