Is there any Impact of AI technology in Trading?

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Quote from: BitHodler on November 12, 2019, 10:21:37 AM

Quote from: Hamphser on November 12, 2019, 09:16:09 AM

Therefore, robots cannot replace human because it lacks of emotions although emotions also are the reason why most people will fail in trading or handling any investment.

Bots not dealing with emotions is one of the main reasons traders use them, so I see it as an advantage rather than a disadvantage.... emotions are useless when it comes to trading so better eliminate that aspect by using a bot.

The thing I'm not comfortable with is having no control over how that bot is utilizing my capital, especially when I'm asleep or just not paying attention, so I will stick to buy low sell high 'trading' manually as that is what I'm comfortable with.

This will be a tough decision for all traders, well for me i will still choose trading on my own and will not use a bot to do my trades, maybe i'll use a bot on some other things but its a no for trading. Bots cannot replicate how you react, how you do trades and the decisions you make specially in tight situation, even though it is emotion less which is an advantage i still prefer enhancing my own self in controlling my emotions because you can't use a trading bot at everything but you can use your enhanced self in everything that you do specially here in the crypto world.

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Quote from: CarnagexD on November 19, 2019, 10:52:06 AM

Quote from: boris singer on November 15, 2019, 05:43:55 AM

Quote from: el kaka22 on November 15, 2019, 04:08:23 AM

Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

bots are not effective for active traders, human instinct is more developed in setting targets and even in undesirable conditions. I see that bot2 that is set generally can determine the scale of earnings, but only for altcoin because btc movements are more irregular to fluctuate.

Why do you need a bot if you are an active trader? Bots are for setting goal and targets to trade and so having it while active is a waste of time. I strong disagree claiming that human instinct is more developed, how did you come for this one? Instinct are just guess what could happen in any direction. Bots are more reliable on concluding which will possibly occur next, it has data, charts and databases it relies on so I think bots got this category.

Quote from: boris singer on November 15, 2019, 05:43:55 AM

The real concept of AI is to be able to control every condition automatically, and at the moment it is still only a prototype and does not yet exist.

Yes, however there are still limit on the AI's side, thus, this limitation is going to be set by the user not thr AI itself. AI does already exist in contrary of what you claimed, maybe not that solid and accurate but these AIs are already used in trading.

Artificial intelligence is an old concept but still the progress is not anywhere near to perfection. Still we have a lot to do in this field. Machine learning/ artificial intelligence are also not the common topics. It is mostly google that is working on this. The reason behind such slow pace is reverse engineering brain. It can be considered the most difficult job so far. Existing AI in trading is more of a guessing game.

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Still we don't have any robot who is capable of doing all the things on their own which we call it as AI,the robots you are talking about on the companies were pre-programmed so they were capable of doing the programmed things.But we are not far away from creating an I-robot if this comes people will lose their life but before that the humanity will come into extinction in my analysis. Cheesy

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I don't really know what your question is really about. First you talked about whether AI can be used for trading.

Quote from: DashingAgent on November 12, 2019, 04:47:32 AM

Is there any Impact of AI technology in Trading? or can it automate the trading process?

Or The fact that AI might take jobs from people who refused to upgrade their skillset?

Quote from: DashingAgent on November 12, 2019, 04:47:32 AM

My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?

Whichever case it may be, as someone who has a keen interest in data science, artificial intelligence and machine learning, I can say AI can be used for trading. But it'll be quite complex to build. You have to feed it a ton of historical prices, build a model then test and train it. Afterwards you've to improve the prediction accuracy with some tweaks.

As for your other question, AI will only take jobs from people who refuse to add more skills to their skill set. In as much as AIs can operate autonomously, it still needs humans to build, maintain and continuously improve it. Models can only support a specific range of functions, afterwards. The machine is back to being the same old dumb computer that doesn't do anything until you tell it to do so.

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Quote from: boris singer on November 15, 2019, 05:43:55 AM

Quote from: el kaka22 on November 15, 2019, 04:08:23 AM

Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

bots are not effective for active traders, human instinct is more developed in setting targets and even in undesirable conditions. I see that bot2 that is set generally can determine the scale of earnings, but only for altcoin because btc movements are more irregular to fluctuate.

Why do you need a bot if you are an active trader? Bots are for setting goal and targets to trade and so having it while active is a waste of time. I strong disagree claiming that human instinct is more developed, how did you come for this one? Instinct are just guess what could happen in any direction. Bots are more reliable on concluding which will possibly occur next, it has data, charts and databases it relies on so I think bots got this category.

Quote from: boris singer on November 15, 2019, 05:43:55 AM

The real concept of AI is to be able to control every condition automatically, and at the moment it is still only a prototype and does not yet exist.

Yes, however there are still limit on the AI's side, thus, this limitation is going to be set by the user not thr AI itself. AI does already exist in contrary of what you claimed, maybe not that solid and accurate but these AIs are already used in trading.

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Quote from: Cherylstar86 on November 13, 2019, 08:18:05 AM

Quote from: Genemind on November 13, 2019, 05:46:37 AM

Just like robots and machines in our modern technology AI also has a huge impact on trading though it isn't advisable especially for beginners. Ai could perform our trading tasks but it couldn't control things since it's emotionless. As for me, it's better if we'll do trading ourselves instead of relying on Ais. Let's just have enough knowledge about it because there are services which Ai cannot perform.

It's a good advice by doing it by ourselves but since our technology developed its a good opportunity to use it as we benefit the good impact of our technology by having such AI and robotics. Though, you have a point that is emotionless but for me its a good thing for those users that is so emotional in which to avoid possible heart attack or hypertension.

Traders must be emotionless on dealing with their trades, and that is the advantage of AI. We already BOT in trading, busy traders prefer this BOT because they can earn and take profit while they are busy doing their staff. Our technology grows so fast than expected, we are so high-tech now and trading using AI is one of the proof that we are started to depend on technology itself. There’s pros and cons so you must assess first before you use AI or any BOT.

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Quote from: Beparanf on November 19, 2019, 06:53:13 AM

Quote from: boris singer on November 15, 2019, 05:43:55 AM

Quote from: el kaka22 on November 15, 2019, 04:08:23 AM

Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

bots are not effective for active traders, human instinct is more developed in setting targets and even in undesirable conditions. I see that bot2 that is set generally can determine the scale of earnings, but only for altcoin because btc movements are more irregular to fluctuate. The real concept of AI is to be able to control every condition automatically, and at the moment it is still only a prototype and does not yet exist.

I don't use bot too as I prefer to do manual analysis and trade so I'll be able to hold or stop loss and only trade with alts I know. Some preferred having bot but I don't think it will affect too. Ai technology is good for advancement but there are still people who prefer to do it their way and by their ways only.

I am not comfortable with using those computer robots to help me with trading, better rely on ourselves and also from other experts who can give us more reliable advice on trading. The decision making depends on our actual participation in trading, doing chart monitoring, reading articles and a lot more to help us established the best analysis without the presence of AI's.

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Quote from: boris singer on November 15, 2019, 05:43:55 AM

Quote from: el kaka22 on November 15, 2019, 04:08:23 AM

Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

bots are not effective for active traders, human instinct is more developed in setting targets and even in undesirable conditions. I see that bot2 that is set generally can determine the scale of earnings, but only for altcoin because btc movements are more irregular to fluctuate. The real concept of AI is to be able to control every condition automatically, and at the moment it is still only a prototype and does not yet exist.

I don't use bot too as I prefer to do manual analysis and trade so I'll be able to hold or stop loss and only trade with alts I know. Some preferred having bot but I don't think it will affect too. Ai technology is good for advancement but there are still people who prefer to do it their way and by their ways only.

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Quote from: DashingAgent on November 12, 2019, 04:47:32 AM

Is there any Impact of AI technology in Trading?

Is there any Impact of AI technology in Trading? or can it automate the trading process? IMO AI is not producing any benefit to humans because using the AI many companies will build robots and the need of humans will be ended. There will be no need of humans anymore, the unemployment rate in the world has already increased too much, & do you know that the salary you are getting paid is just nothing? $8K-$16K per month are even nothing to anything. The minimum salary a human may deserve should be equivalent to the cost a human pay to save his life in the hospital. Maybe AI can reduce the cost of operations but it does not resolve the issue yet, because the unemployment rate has been increased too much. Can you decrease the unemployment rate using the AI technology? or Governments and Banks should pay free money to the people who are unemployed? My question is that if AI automates everything in the future, so there is no need of employees left then how the people will be getting paid? as everything will be done by robots?

I mean we already have AI trading bots - but I do think there's definitely still room for more growth for AI in crypto trading.

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Quote from: el kaka22 on November 15, 2019, 04:08:23 AM

Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

bots are not effective for active traders, human instinct is more developed in setting targets and even in undesirable conditions. I see that bot2 that is set generally can determine the scale of earnings, but only for altcoin because btc movements are more irregular to fluctuate. The real concept of AI is to be able to control every condition automatically, and at the moment it is still only a prototype and does not yet exist.

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Basically there are a ton of trading bots that uses similar approaches but the reality is trading is not a 1s and 0s game so they almost always fail.

Yeah, there are times when a bot makes money for you but in general you are left with a ton of loss in the end because bots could make you profit on good days of the market but when it is bad they do end up losing a ton of money as well. So all in all trading is a human thing, no AI can do it better than any human, even the most improved and well designed bot can't trade as well as a human because bots have certain limits where you program to do one thing and that is the only thing they can do whereas humans can see a broader picture and read news and they can prevent something bad happen before it happens.

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Well yes specially for beginners though. Artificial Intelligence were created out of human's basic queries. Usually they are upgraded out of sophisticated or new query of what is the AI capable of. Technically saying AI are generally a program to serve for mass or general people meaning to say it serves the most basic one. And therefore they can quitely could make an impact specially for beginners.

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Quote from: Kasabus on November 14, 2019, 03:48:17 PM

Quote from: ReiMomo on November 13, 2019, 03:13:28 PM

AI in trading would be helpful and bring a huge impact that makes your work easy. At this age, many of us were relying on a machine and almost we have all that in our home. In trading, this is a perfect tool but other traders prefer to use it manually since purchasing AI is very expensive. However, all best result was relying on us and how we command AI through the setting on the program that AI had. But sad to say there's no perfect in trading even you use a tool with this.

Only those who have a lot of money could afford to have this. Think of ist price, it won't really give much appreciation in the market.

Yes, it can be helpful some matters especially in trading but can't let things happen and even controlled this new technology for what we would like to happen in the future. NOt only just a positive impact but also a negative one cause it only changed our mindset and relying on this technology it sounds like we did nothing.

It is true, the first price offered will be very expensive to be able to apply AI technology while people are not necessarily interested in the technology applied. There will be many pros and cons if all use Full AI technology. We can only see its development from now on, AI technology will be very useful in the future.

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Quote from: Polar91 on November 14, 2019, 07:20:53 PM

Quote from: Genemind on November 13, 2019, 05:46:37 AM

Just like robots and machines in our modern technology AI also has a huge impact on trading though it isn't advisable especially for beginners. Ai could perform our trading tasks but it couldn't control things since it's emotionless. As for me, it's better if we'll do trading ourselves instead of relying on Ais. Let's just have enough knowledge about it because there are services which Ai cannot perform.

Being emotionless that AI has is actually an advantage from trading manually because it neglects to possibiltiy of fear of missing out or rather panic selling. The main problem in AI is that it's a new technology for trading IMO, thus there are a lot of bugs which you may encounter such as errors that can wipe your account's balance if you're unfortunate. On the other hand we should be open that it's being developed and sooner or later it'll be the revolutionary way of trading.

It may be we have to accept that the more we are accepting technology development the more we've welcomed many innovations. AI serve another role in trading and quite good to know that they're in great in times when they are not in a good mode. But something we need to think also that all the way we have to manage our trades often times rather than relying on it all the time. And all major decisions must be coming from us.

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Quote from: Genemind on November 13, 2019, 05:46:37 AM

Just like robots and machines in our modern technology AI also has a huge impact on trading though it isn't advisable especially for beginners. Ai could perform our trading tasks but it couldn't control things since it's emotionless. As for me, it's better if we'll do trading ourselves instead of relying on Ais. Let's just have enough knowledge about it because there are services which Ai cannot perform.

Being emotionless that AI has is actually an advantage from trading manually because it neglects to possibiltiy of fear of missing out or rather panic selling. The main problem in AI is that it's a new technology for trading IMO, thus there are a lot of bugs which you may encounter such as errors that can wipe your account's balance if you're unfortunate. On the other hand we should be open that it's being developed and sooner or later it'll be the revolutionary way of trading.

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Quote from: Dart18 on November 14, 2019, 08:52:58 AM

Too much movies.

There are robots but not all the work in this world can be done by them.
One is decision making. When something wrong goes on and it is not in the program of the robot then it will be mayhem.
Those kind of things are what needs to be observed. Yes, by a human.
One single dust which came in with a mechanical device might change the movement of all.

I dont think you really want to talk about trading here.

This is probably his what ifs. But if you come to think about it the possibility of using bots are quite effective especially if you have coded them right. Although they just can't handle things which would require emotions and logical reasoning.

I think a script is a good example for making a bots but it's not yet physically alive because it is being used in many programs. But it is a good example though.

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Quote from: jostorres on November 14, 2019, 03:04:55 AM

It is very interesting to actually use a bot service, but it makes the person using it a very dull person as everything will be left to the AI to do and if AI is to do everything, how will we get losers for us to get winner?

It's a fact that most people in any market lose money. In terms of percentages, it's said to be over 90% which just shows how the majority fills the pockets of a minority of profitable traders. Knowing that, people are way better off letting a bot do the trading for them as every single trade is a calculated one based on the technical analysis it did in fractions of a second.

I rather be a 'dull' person but have a bot make rational and calculated trading decisions than to be a cool/active person who ends up losing due emotions and the lack of proper technical analysis skills.

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Quote from: ReiMomo on November 13, 2019, 03:13:28 PM

AI in trading would be helpful and bring a huge impact that makes your work easy. At this age, many of us were relying on a machine and almost we have all that in our home. In trading, this is a perfect tool but other traders prefer to use it manually since purchasing AI is very expensive. However, all best result was relying on us and how we command AI through the setting on the program that AI had. But sad to say there's no perfect in trading even you use a tool with this.

Only those who have a lot of money could afford to have this. Think of ist price, it won't really give much appreciation in the market.

Yes, it can be helpful some matters especially in trading but can't let things happen and even controlled this new technology for what we would like to happen in the future. NOt only just a positive impact but also a negative one cause it only changed our mindset and relying on this technology it sounds like we did nothing.

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It has quite the impact as I've seen here and there are already trying to use AI for prediction based on the common trading pattern however doesn't guarantee profit but if we are talking about AI taking over job and makes unemployment worse it all comes down to the government. The government could raise the taxes for any company that uses AI and then propose universal basic income so that the robot will work not only for the company but also contribute to the whole country. There are some discussion regarding to this and it seems like the most logical idea to overcome the advancement of technology, we can't really hold technology back right? because it always rapidly grow in every corner of the world.

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Quote from: TrevorS on November 12, 2019, 05:54:30 AM

If all work will be carried out by robots, then people are highly likely to switch to a basic income system. When each person will receive from the state a certain amount of money to cover their basic needs.
Or there will be no money at all, and everything you need will be given out for free, because it will be created by robots.
Thus, people do not have to spend time earning money in order to ensure their survival, and the forces of mankind will go to science and art.

That’s a good idea though I don’t know if it will be implemented because of “some” greedy people. They could give a part of the income they had saved by paying the government some fee and then distribute it to the people. Also, I don’t totally agree with the OP since not all jobs can be done by AIs or robots. The blue collar jobs might be affected heavily and would result to massive unemployment but those in white collar job who are mostly in the office using their analytic skills and etc that a machine can’t perform. It would increase the demand of labor in terms of technology, computer.

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