Topic: Is it true that this AI is good for trading? - page 9. (Read 1652 times)
I have never used AI to trade. But I wonder if AI is like the applications offered by some developers here. Because in my opinion, if it is artificial intelligence, it means that AI can do analysis without human intervention, and we only give orders to trade based on market direction AI immediately runs by itself and if the market direction changes, AI will adjust accordingly. If so, it will be different from the app the developer made because it might be a new technology for commerce. But I still prefer manual trading because by using that method, I can learn more about analyzing the market's direction.
more profitable in trading IF you programmed the bot with a good trading strategy.
The problem with all bots is, no one could code all the strategy or a strategy for all market conditions. So, bots also will book losses. It means bots cannot be the final destination.
There's no strategy for all market conditions, but there's always a strategy for each market condition. The programmer's job is simply to identify the market condition, then use the right script.
Plus you're wrong in believing that no trader has successfuly ultilized bots for profit because there are many of them in the top 10% of the most profitable traders. Plebs like us can't compete against them, with their large capital, and their army of bots.
The developer of this project OP put a huge amount to publish and get a better picture of what they have planned. Of course, if we ask any of the team members about this project they certainly be talking positively and promises which could tempt you to try and use it. That is what we could marketing strategy to attract the interest of the community. But what we are looking for is the aftermath and many questions if this really reliable or just speculation.
But for me, it might be good for those who are still learning but it was not better in the long run as the market trend keep on changing.
But for me, it might be good for those who are still learning but it was not better in the long run as the market trend keep on changing.
The best AI we can have is our own brain mate. AI's, bots, and anything that is digital methodology is based on the mathematics data that is being feed to it but not the factual analysis. By default human brain can process both the sides actually. They can either go for the technical analysis and they can also do the factual analysis at the same time. This means the trading confidence that is built by human brain is far greater than the AI. They can make you profit for sure but they can also make you loose with little error in the code isnt it? We don't say but we also need a little emotional part of us to make some logical decisions. When to stop trading, what's balance left out, what is the current situation of your expenses and much more. It can only be thought by human brain but not an AI. Choose wisely.
I do agree that it would be pretty amazing for machine learning to find the good trades and collect them (and also bad ones to see how it works both sides) and then make it a great trading machine. But lets be real, in order for that to work, what happened in the past should have the same consequences in the future.
Like we have regular trading bots right now, things you could buy for a grand at most, probably cheaper, where you could do indicator trading and what indicators that were hit in the past before an increase, could be used again but maybe won't increase next time. That's the issue with AI trading, it can learn from the past, but future may not have same results.
Like we have regular trading bots right now, things you could buy for a grand at most, probably cheaper, where you could do indicator trading and what indicators that were hit in the past before an increase, could be used again but maybe won't increase next time. That's the issue with AI trading, it can learn from the past, but future may not have same results.
Nah. I do not think so. Some things in trading requires more than calculations. It requires gut, instinct and conviction.
Do intelligent machines have these? I guess not. Infact, I feel that the number of people who incorporate AI in their trading are very few. I also feel that most veteran traders will not be comfortable with artificial intelligence doing the trading for them.
Do intelligent machines have these? I guess not. Infact, I feel that the number of people who incorporate AI in their trading are very few. I also feel that most veteran traders will not be comfortable with artificial intelligence doing the trading for them.
I can only copy opinion of one member who recently, when asked about those who sell various crypto courses on trading, wrote that only those who sell it actually make money - and I think it is similar with those so-called AI bots. If someone has a trading bot that is special and makes a profit, he will certainly not sell it if he can make a profit with it.
I advise less YT and all the possible magic that is presented there, which will result in a smaller number of fairly meaningless questions on the forum.
I advise less YT and all the possible magic that is presented there, which will result in a smaller number of fairly meaningless questions on the forum.
Can you tell me what is actually the AI trading bot do with your trades?
If I am not wrong AI stands for making decisions on its own so if there is a trading bot with such capabilities and zero error percentage then you will become billionaire in few days just with a single digit capital so its not reliable or just using the name AI because it looks catchy.
If I am not wrong AI stands for making decisions on its own so if there is a trading bot with such capabilities and zero error percentage then you will become billionaire in few days just with a single digit capital so its not reliable or just using the name AI because it looks catchy.
So for me, it's better to get a Bot specifics for trading, not saying that it will be a guarantee to make profits, but at least it was design for the one used only. But we all know that the data is still based on us, so what we feed the bot, will likely what he will give us in trading, I'm talking about the parameters.
I've had a lot of offers to have such a robot for trading, but because of the high price I think I'm using tools like tradingview and others. Indeed I think as far as they master the Bot would be useful, and profitable. But maybe the author should also know, AI bots can't always run automatically, there are parameters used and you have to be good at making those parameters with manual or technical analysis.
In addition, I also believe that this AI Bot can given a virus to control the account, because I heard that this BOT must be directly connected to our account in trading. So during my nearly eight-year trade I only believed in myself.
With the bot, you can learn about trading fast. It will help you with what trading is, what indicators are, the strategies you can use and how to manage your risk. All will be as an article. Which means it helps you to know what is trading how how to trade as a beginner. But you will have to trade by yourself.
This sounds like an improved version of google. Google will get us the links to the web pages where relevant information will be available whereas this bot gets us exact information in the chat box from those same web pages. This might get the beginners the experience of chatting with a mentor to clear their doubts. At the end of the day, the final decision is in our hands like where to enter and where to exit which finalize the profit or loss.people always keep trying to escape from those responsibilities by trying to automate all their trading activities; now, in the name of bots and in near future, it can be AI. I am sure that those traders who never understand it as "personal task" will never stop their attempts to automate.
But, unfortunately trading is not about automation but accurate prediction which will never be possible as future is not foresee-able one. I mean that you can try whatever technology available with time period but 100% accurate prediction will never be possible but cutting your losses will be possible with the help of AI and being disciplined like when to trade and when to avoid kind of suggestions will be possible along with new technological improvements.more profitable in trading IF you programmed the bot with a good trading strategy.
The problem with all bots is, no one could code all the strategy or a strategy for all market conditions. So, bots also will book losses. It means bots cannot be the final destination.
I think it's too early for this kind of AI to help us in trading, there are a lot of factors that this bot might not have any information. Not just in trading though, ChatGPT has been touted to even predict who is going to win in world cup and other sports, here is the thread, https://bitcointalksearch.org/topic/poll-using-ai-to-predict-outcomes-5427381
So for me, it's better to get a Bot specifics for trading, not saying that it will be a guarantee to make profits, but at least it was design for the one used only. But we all know that the data is still based on us, so what we feed the bot, will likely what he will give us in trading, I'm talking about the parameters.
So for me, it's better to get a Bot specifics for trading, not saying that it will be a guarantee to make profits, but at least it was design for the one used only. But we all know that the data is still based on us, so what we feed the bot, will likely what he will give us in trading, I'm talking about the parameters.
OP, isn't the user to be the one who programs a script for OpenAI or a bot to function? If that's true, then your bot would only be as good as your trading strategy. But what's probably good about it is it will remove human emotion from trading, and it will absolutely follow all the rules of your trading strategy, making it have less mistakes, and therefore probably also make it more profitable in trading IF you programmed the bot with a good trading strategy.
If I understand them correctly, how good/bad they depend on what data the developer feeds them. Not sure how reliable they are but it is definitely easy to get trading history data if they just scrap them from exchanges. CMIIW.
According to the review I checked about the bot, it is limited to 2021 online information, but maybe updates have been released that can make it up to the recent time.I won't be surprised if these bots just paraphrase the top 10 results from Google or something similar. OP or anyone should learn further by doing demos or real trading with limited funds. Knowledge about technical terms won't be enough to make them a good trader, regardless if they use AI/bot or not.
There are stages in trading, but most likely if the newbie trader read all the information given, there would have been all these there and how risky trading is. I prefer to use just like $5 to $10 to start to trade than using demo.
Some people may just prefer to get a tutor, but they must be careful of scammers.
Despite their intelligence, these machines are incapable of making good trades. Additionally, despite the potential of these machines, I would invest my time and effort in learning how to trade rather than rely on it.
If I understand them correctly, how good/bad they depend on what data the developer feeds them. Not sure how reliable they are but it is definitely easy to get trading history data if they just scrap them from exchanges. CMIIW.In a perfect world where technology always works, then it is definitely a great tool to use. Since the real market does not always follow that, then nobody should treat them as the gospel to make a profitable trade. I personally view them as an advanced tool from your usual bot trading tools.
But the bot can ease the learning process for you by getting most accurate or accurate information from the web for you.
I won't be surprised if these bots just paraphrase the top 10 results from Google or something similar. OP or anyone should learn further by doing demos or real trading with limited funds. Knowledge about technical terms won't be enough to make them a good trader, regardless if they use AI/bot or not. Could you please elaborate more on this? I mean that I need to ask the chatbot like BTC price will rise or fall in next 10 minutes and based on the answer, I need to place the order? Looks funny but definitely it is not trading but a kind of fore-teller driven gambling.
If you ask this kind of question, it is a kind of bot that will give an accurate or almost accurate answer like telling you that the price of bitcoin can either increase or decrease and how volatile the price can be. The bot is for learning if you want to know how to trade, that is what people are not getting, it is you that will trade yourself if you have learnt about trading. But the bot can ease the learning process for you by getting most accurate or accurate information from the web for you. 
It is amazing how far artificial intelligence has come and that there is now discussion about whether or not it can execute a profitable trade. or, even better, whether it can take the role of actual dealers.
Now, in response to the OP's question, I do think there are more advanced trading AI systems that can produce near to accurate predictions other than OpenAI. Despite their intelligence, these machines are incapable of making good trades. Additionally, despite the potential of these machines, I would invest my time and effort in learning how to trade rather than rely on it.
Now, in response to the OP's question, I do think there are more advanced trading AI systems that can produce near to accurate predictions other than OpenAI. Despite their intelligence, these machines are incapable of making good trades. Additionally, despite the potential of these machines, I would invest my time and effort in learning how to trade rather than rely on it.
I think OP is trying to chat with it and let it predict depending on what the AI says. So it's going to be like gambling as well. It's going to be hard to rely on it, but you should make your management risk appropriate for you. Risk what you can afford.
The ChatGPT is great but when it comes investing it is bad to depend on it information or even act on it. The AI gathers various information on line and then share that information. Some of these information might be totally wrong just like information you might get from the forum so basically The AI can be use for general knowledge but for investment advice I think it’s bad to rely on it. Some of its info are wrong
I am not entirely sure how it will be because what we call as "AI" today is simply machine learning, a highly developed one but not AI at all, that means something else. So, if you could put all the trades and reasons why they were done from a very good trader, that bot will learn how to trade and why to trade something, and maybe it could be good if things go the same way.
But, it is not simple because market is not an information, asking questions and getting facts is easier, but asking it to trade is something totally different. It can easily trade, that part is easy, no problems, but could it profit? That part is not entirely sure at all and doubtful.
But, it is not simple because market is not an information, asking questions and getting facts is easier, but asking it to trade is something totally different. It can easily trade, that part is easy, no problems, but could it profit? That part is not entirely sure at all and doubtful.
I have heard about trading bots, but this is my first time hearing about an AI for trading. Trading bots can help you trade for a certain point, and after that you are on your own. I think the same goes for AI trading. Never used it, so I don't have enough knowledge about it. Don't know what so say here, but I have to have some experience on trading bots. Here what I will say, don't rely on these Bots and AIs. It can prevent you from learning proper way of trading and trading should be fun. You lose the fun using it.
It could help in lots of situations, I agree on that, but don't rely totally on that. DYOR and then trade.
It could help in lots of situations, I agree on that, but don't rely totally on that. DYOR and then trade.
I think OP is trying to chat with it and let it predict depending on what the AI says. So it's going to be like gambling as well. It's going to be hard to rely on it, but you should make your management risk appropriate for you. Risk what you can afford.
The ChatGPT is great but when it comes investing it is bad to depend on it information or even act on it. The AI gathers various information on line and then share that information. Some of these information might be totally wrong just like information you might get from the forum so basically The AI can be use for general knowledge but for investment advice I think it’s bad to rely on it. Some of its info are wrong
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