Topic: Is it true that this AI is good for trading? - page 8. (Read 1639 times)

If such a project exists of course it makes it even more interesting but on the other hand we don't know whether the AI technology will actually work effectively in trading,
As time goes by, the development of technology is also increasing rapidly,
The most important thing is just keep following the progress.

I don't think somthing known for everyone is a good thing to make profit from trading, we already know that exchanges and big whales don't trade personally, they have their own bots and programs that opposite your trading, so as long as these entities capable of reaching the same information as the normal trader, they will trade against them. However, for longer term expectations, it may work better.

AI technology is relatively new to me, and so far I haven't found a project that can be used for trading, so I don't understand whether AI technology will help traders in every trading activity to be more effective or can also make the win rate higher. Will give it a try when I find an AI project that can be used in trading

In short, it is still not guaranteed 100%. Using this AI will just help us to decide, we still need to analyze and decide on our own. These AI for sure just suggest.
There are already trading bots that you need to configure based on analysis but I believe it's not enough.
It's very difficult to use AI when there is something financially related like trading, you may lose your money of some mistakes.

Yep, it would be basing up on those historical events and information which they would really be added up into the library but not something that you could fully rely on using it on future use or recent ones.

We know that there are lots of things that could happen along the way unexpectedly and there's no way that you could really be able to determine out via these AI's.
They would need still to be feed up and would be added up with those past informations which i dont see for it to be worth if we do speak about
using on something like trading.I would rather prefer to trade on my own analysis and decisions.

AI in terms of Trading bots, Yes the bots are good for trading but are careful to use reputed protocols or trading bots. Recently i replied te a similar topic on trading bots, so here too I would like to repeat the strategy used for the Trading bots must use these bots in sideways trading and do not prefer them in volatile markets.

this idea of using a bot to day trade is something that I have seen since a year ago and it has always failed or at least I have never seen someone say or show that they made very high profits using these bots, nowadays there are many bots and all of them have not had consistent results and it has also caused losses for people using these bots, I myself in the past have taken the time to do research on these bots, and you see I have done research on trusted bots that were on this forum (don't know if they are still on this forum or if at least some bot is still on this forum ) but the fact is that despite the fact that the bots that are on this forum are reliable bots, ( I'm not talking about scam bots that are in the gambling section, because in that section there are no bots, there are only hyip/ponzi sites) I realized that the profits were very low for the people who bought the bots, the only ones who really profited from the bot were the bot owners


source: https://www.quora.com/Do-day-trading-bots-work-Their-concept-is-simple-whats-their-issue

the bots are programmed with historical data from the past that were successful, this is one of the problems of these bots, even being AI I still haven't seen great results from these bots, I could be wrong about that but from what I could see since years I still haven't seen effective bots and I would not use these bots, I prefer to trade using my own knowledge than being dependent on bots or other people

AI as of now is nothing but bots which work on some preset parameters taught to them. I am pretty sure that the publicly placed softwares have not reached the mark where people are selling a software whose code can automatically learn things from the past behaviours to earn profits in the future. Also even if this happens initially it will be very coin specific and market specific as each coin's market are pretty different also what set of variable do you give the bot to study, is it only the historic price? Or indicators? Or quantitative data?

There may be other dedicated AI brands that allow for price predictions out there.
Afaik, OpenAI prevents itself from talking about the future, I think making trading predictions is also included. So specifically, OpenAI won't be able to fool anyone about the future (at least for now). However, OpenAI can also be misleading about the information presented.

if they are making good money to those who used it, this won't be public for long as someone will already buy the rights of using it exclusively. but guess it is not. it is just to assist your trading activities but not entirely relying on it. much better if you will do your own trade and learn the basics. as you go along with your journey, you will pick up some of the tricks and that you can use when you are trading.

I have heard a lot of things about Open Ai and how also people commended ChatGpt's capacity even since Elon Musk tweeted about it. I have used any of the two but according to my understanding and research about all these Ai platforms they work just like Google search engine I mean they are web crawlers that search thousand of billions of information available online to provide an answer to a specific question you ask the Ai machine.

That won't happen either because if you can think about it, if it's too good at trading then the owner shouldn't be selling that to anyone because they will become millionaire/billionaire in no time. But unfortunately, it's not like that as we thought since it was just a chatting AI maybe I guess would talk/tell you what to do in the market but doesn't work as what you have expected.

I would rather stay away of those bots/AI that would trade for me because it's not as good as what you think. Let yourself decide if you made mistakes so that you will learn your all lesson.

If they do saw that it is quite relevant or would be something that helpful then people do have always the choice on doing what they do have in mind.Sooner or later they would really be able to find out if its
really that quite relevant or something useless at all.Its true that nothing beats out if you are the ones who do make out such trading decisions on your own and wont really be relying on something
which had been proven out.If ever this was effective then all of traders would really be that rich or could make huge money but we know that this isnt how reality seems like.
This do proves out that it wasnt that something do works.

Is AI trading will be the one to trade for you using the default strategy?
If yes, I don't think I can trust them because this is trading and I'm using my money here so I should be the one to trade for it using my own strategy. In trading we should be more knowledgeable about it, this might not be a good option to others and AI trading can't still be trusted as of the moment.

I just don't feel like I trust it at all. Not because it sucks or anything, but because I just don't trust anyone or anything else to do my trading for me. Back in the day I did, there was a bot that I used, even sold, but I just didn't get the results I wanted with it, and saw plenty of people who made insane amounts of money with it and saw a lot of people who lost all their money with it as well. As we can assume, I am one of those who would lose it all instead of earn, I am not good at it at all. Hence, I would probably not be good at this neither and be terrible, so there is really no need for it.

Without having analytical knowledge, you will not be able to control or set up AI bots perfectly. But the use of this kind of bot will provide excessive automation. When the bot is equipped with an AI bot, it will try to find loopholes or what commands are suitable for use. As long as there are parameters that are set, the Bot will run properly. But don't trust too much and keep doing manual control.

And for bots that are infiltrated by viruses, it may be common to find them. Usually bots containing malware or viruses are distributed free of charge and promoted by several people who are then used by novice investors, and in the end they will lose their assets silently. Be careful and don't use bots without doing some complete research.

Am sure you know YouTube publicity are paid adverts most times as, theee are hardly users that would just want to put products out if mot for what they are gaining from it or maybe, just some means to keep the channel busy with content and building the channel as well.

Am not any familiar with the AI in question, never used it either but I would say,
If any AI is as good as it is projected to be, traders won't spend much time trying to analyse the market. Instead you'll find traders pulling resources to get some bot to make things easier for them.

Unfortunately, it's always going to be Garbage in and Garbage out with an AI, together with some malfunctions and market jumps due to manipulations from the platform in use which could result in some real lose.
AI isn't any good compared to what your knowledge could come up with.

Probably most of the trading strategy are with those AI but I think its too risky to depend on this. Imaging, if there’s a good AI for trading then everyone will make profit, and that is not healthy anymore. In trading someone will always lose and win, we can’t everyone win because this is how the market works. The result will always depend on our own analysis and if you didn’t make any good analysis, don’t expect to make profit at all.

Yeah, that is the only thing that it can do. It can help you gather existing data but we shouldn't rely other important things to it because it won't simply work. If we are a beginner then I think learning on our own way would be better because if we rely immediately in the AI's then how can we know or verify if the data's that they are throwing to us are accurate? AI's are only a pro traders toy.

It helps them make their trades faster than ever. Just wanna say that this topic here about AI reminds me of Chatgpt. I am sure many of you guys already heard of it? It is said that it can do almost any things, so I won't be surprised anymore if many people use it for trading but I doubt it will work.

It can help especially if you need ideas and help in technical analysis but you shouldn't always rely on it because for sure, its prediction isn't reliable all the time and they just base their responses on their programmed scripts. You can try using it in the beginning but you have to grow by doing your research and practicing trading fundamentals on your own. You must know how to do it yourself because you can't succeed as a trader by just relying on AIs all the time.