What's the Accuracy with using AI to trade - page 3.

SmartGold01

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

Hey guys...Futures trading has undergone a significant transformation, with technological advancements making the way for a more accessible and efficient experience. One notable development is the emergence of products that allow individuals to trade, copy trade, and bot trade futures contracts, such as those based on the DCMI30 index. These products have democratized futures trading, making it easier for a wider range of investors to participate in this market for me i think accuracy is around 90% success from my DYOR.

what do you think about AI Accuracy in trading ?

I will say there is no accuracy or we can assumed to be 1-0 because bot is something that may not give you the required approach to trade and secondly, bot shouldn't be a thing of reliability instead can serve as a means of assist to trade, meaning you can use and activate bot at busy moment or a little rest where the bot does all the monitoring and execution of trade.
For someone to give a total accuracy of bot simply means such person uses bot and has been benefiting from it for a long time, with this s/he can do the summations but I most ask, what information does the bot operates on.

Dzwaafu11

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

Hey guys...Futures trading has undergone a significant transformation, with technological advancements making the way for a more accessible and efficient experience. One notable development is the emergence of products that allow individuals to trade, copy trade, and bot trade futures contracts, such as those based on the DCMI30 index. These products have democratized futures trading, making it easier for a wider range of investors to participate in this market for me i think accuracy is around 90% success from my DYOR.

what do you think about AI Accuracy in trading ?

Nobody will advise you to use AI to trade here. When it comes to trading, it is very risky; even the professionals lose money some times in trading just because they know how to manage their risk, and that is why they don’t lose too much compared to those who did not have the knowledge. My advice for you is to go and learn and forget about AI; learn how to trade by yourself. If you are thinking of using AI, it will not help you at the end of the day, and you will lose your money in trading.

If you learn and trade on your own, it will help you. AI can also make things wrong for you sometimes. As long as trading is a concern, there is a way I think you will manage your risk. AI will make you put more than what you can afford to lose because you think AI will not make a mistake, which is not so. AI cannot outsmart the market.

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It depends on the program by the developer because they could be just follow other peoples trade on a particular platform just support with the use of the API and do the copy trade. AI is still configurable by the developer how they would like to behave the current system. Possible they can just gather those data and makes a summarize accumulation of the possible position it's too much vague about the question I guess. I will consider self learning in trading than being dependent in bot or else you don't any have time to trade.

Cryptmuster

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Quote from: RockBell on October 13, 2024, 03:33:44 PM

Even with the right resources I don't think I will consider Ai doing my trading for me because what if things don't go well because their is no way that the AI will out smart the market because it will definitely kill the fun of trying to predict the market and if Ai is actually is guess right all the time then the whole market is going to be fucked so I will take responsibility of doing everything my self. So that when ever I fail I will take responsibility of my action that trusting an artificial intelligence. And I can not risk my money with something I know it can fail me. And it's a personal decision does that want to use Ai to trade they can use and for now majority is into spot only few people want to do features, and trying something new might actually favour so people so the choice is theirs to make either using AI or trading spot or futures.

I meant that ordinary traders will not have access to such technologies, it will be available only to large corporations with huge financial capabilities. I do not want to speculate now what AI will be capable of, which will have access to all existing strategies and all sources of information, and which will be able to act without emotions, only on proven algorithms using the knowledge of the best traders, but it seems to me unnecessary, since it is obvious that a person will have no chance against such an opponent.

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The thing about using any AI is that it works with already available information out there, say RSI strategy, moving averages etcetera.. so it's basically dependant on this information that this will work and also I believe these strategies that AI might use lag and you could be missing the quality trades and entering late.

To counter this, I would suggest learning how to trade by oneself so that you can analyse the charts yourself and catch those quality trades and increase your win rate too

Silberman

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

Hey guys...Futures trading has undergone a significant transformation, with technological advancements making the way for a more accessible and efficient experience. One notable development is the emergence of products that allow individuals to trade, copy trade, and bot trade futures contracts, such as those based on the DCMI30 index. These products have democratized futures trading, making it easier for a wider range of investors to participate in this market for me i think accuracy is around 90% success from my DYOR.

what do you think about AI Accuracy in trading ?

It is true those tools allow for more people to feel confident on risking their savings and trade them away, but make no mistake, there is no democratization at all, the profits will be concentrated on the same hands as they have always been, with institutional investors getting most of the money and a few talented independent traders getting the rest, while those that relied on those tools without knowing what they were doing will lose all their money.

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Quote from: Zigabel on October 14, 2024, 10:49:33 AM

AI in trading isn't a bad idea, it's literally a very brilliant innovation and I have seen so many embraced it and in a way it has helped them quite a lot, but personally I have not and I'm willing to try it out for the reasons of accuracy which you rightly mentioned, I still believe at some point they will have some lags which could cause the trader a huge mistake such that they just have to bear it, I still believe just like humans, the AI wouldn't be a 100% and so it may still give off the human tendencies.

AI can be accurate if what you need it for is to make some work done easy for you. Example is an AI which you can use on an exchange for DCA in a way the AI bot can be helping you to buy a coin at certain period of time that you set it. Like a bot to be helping you to buy bitcoin every week on Monday. But if the AI bot is for profit making, like to help you analyze the market and to help you open a position, you will only be disappointed with the trading result. This is the reason I can not use AI to trade. J prefer my personal trading knowledge and experience.

Zigabel

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AI in trading isn't a bad idea, it's literally a very brilliant innovation and I have seen so many embraced it and in a way it has helped them quite a lot, but personally I have not and I'm willing to try it out for the reasons of accuracy which you rightly mentioned, I still believe at some point they will have some lags which could cause the trader a huge mistake such that they just have to bear it, I still believe just like humans, the AI wouldn't be a 100% and so it may still give off the human tendencies.

The auto side of it it's the only great advantage I have seen over humans but for a full time trader, it may not be really necessary as you are almost on your chart all day long which is what this AI does for you so of there may be no need except for the purpose of analysis and that would be just to eas some forms of stress going around to source for informations that would aid your analysis.

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

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Depends on the model it references in? I mean in the first place AI uses real-life strategies and methods used by professional traders, so pretty sure it just follows that. Granted people who use AI may have convoluted results since it's a mix and match of a lot of different use cases and I reckon even AI wouldn't be able to summarize it THAT well, only offering generic advise for the most part. I'm not saying that it can't achieve good results, I'm just saying you still need to know what it's saying before you can actually use it, due to how convoluted info can be. At least for now.

I reckon even with a lot of testing it'd still be hard to gauge it's accuracy since the market can be ever changing.

Miles2006

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It’s great for one to experience new technologies when trading but I will advice never to depend fully on AI bots, bots accuracy depends also seeing some bot can’t get a trader close to success. Almost every trader make use of bots for research no doubt they’re very fast but reliable I don’t think all bots are worth the time we give. I guess op believes so much in bots just wondering what might happen when there’s no self strategy just bot then people will definitely face lose personally I don’t feel it’s proper for traders to depend only on bots.

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Quote from: Cryptmuster on October 13, 2024, 05:33:45 AM

I think AI, with proper access to all available resources, trading strategies, could achieve simply stunning results. I mean AI that could learn and have the ability to trade independently. I am not sure if this is possible now, but in the future it may become a reality. As for AI at the current level of development, I also think that it can bring quite good results, only it is necessary for AI to have access to all the knowledge that professional traders have. To sum up, human capabilities will always be limited compared to developing technologies.

Even with the right resources I don't think I will consider Ai doing my trading for me because what if things don't go well because their is no way that the AI will out smart the market because it will definitely kill the fun of trying to predict the market and if Ai is actually is guess right all the time then the whole market is going to be fucked so I will take responsibility of doing everything my self. So that when ever I fail I will take responsibility of my action that trusting an artificial intelligence. And I can not risk my money with something I know it can fail me. And it's a personal decision does that want to use Ai to trade they can use and for now majority is into spot only few people want to do features, and trying something new might actually favour so people so the choice is theirs to make either using AI or trading spot or futures.

Cryptmuster

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Quote from: JeffBrad12 on October 11, 2024, 09:51:55 PM

Unless there's extensive testing toward the accuracy, all will be empty speculation.
If the accuracy is so great, then it'd be a big thing already, since 90% accuracy means we can simply grow money by just letting the AI bot runs our trade, which i don't think there's any AI bot that can do that so far.
I've tried plenty of time using bots provided by exchange, they don't do really well, self trading still yields more profit.

so I guess the accuracy of the "real" AI bot currently available in the market, at best still 55-60%. but of course it's just raw speculation as well.

I think AI, with proper access to all available resources, trading strategies, could achieve simply stunning results. I mean AI that could learn and have the ability to trade independently. I am not sure if this is possible now, but in the future it may become a reality. As for AI at the current level of development, I also think that it can bring quite good results, only it is necessary for AI to have access to all the knowledge that professional traders have. To sum up, human capabilities will always be limited compared to developing technologies.

Gladitorcomeback

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Quote from: Iamcrypticguy on October 11, 2024, 08:52:33 AM

.but could bots integration make trading easier?? That's for someone who isn't a newbie though .

A bot basically does what you can do yourself but it is used to automate the process which means you won't have to do anything and you let the bot do it for you while you let it know what you want it to do. A trading bot doesn't maximize your profits because it basically uses the settings you set and it only executes trades based on the instructions fed to it.

Using a bot is only recommended for people who want to trade but have no time to do it manually themselves, so they use bots to automate their trading and they use the strategies they think would work through the bots which means that a person will have to know the technical aspects of trading to be able to run a bot successfully or he can mess up everything and lose money.

The same is the case with AI. The only difference is that an AI bot might fetch the settings and strategies itself when asked, less hassle but the same function at the end of the day when it comes to making trades.

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I just watched Elon Musk sowing the world the "robot" he is building, which we all know won't happen for at least another ten years, and so far all the things that he has shown was from human controlled machines, not real robots who move independently, but we are talking about a great start and hopefully one day they will have robots to do everything and we will just sit at home and chill, or do whatever we want.

Automatic cars has been a thing for a while and we are getting great results so far, and hopefully we are going to get even better results in the future but legality of it and regulations will take time, what happens if your robocar hits another driver and kills them will be a question for a long time. I believe AI trading bots are the same, what happens if AI trading bot loses all of your money? Who are you going to blame? AI? The company who made it? You for setting it up badly? We have no idea, so why not stay away from giving your money to some bot you are not sure about.

JeffBrad12

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Unless there's extensive testing toward the accuracy, all will be empty speculation.
If the accuracy is so great, then it'd be a big thing already, since 90% accuracy means we can simply grow money by just letting the AI bot runs our trade, which i don't think there's any AI bot that can do that so far.
I've tried plenty of time using bots provided by exchange, they don't do really well, self trading still yields more profit.

so I guess the accuracy of the "real" AI bot currently available in the market, at best still 55-60%. but of course it's just raw speculation as well.

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I don't think AI/Bot are accurate; it's all depends on your setup since it won't make any good profit alone without you setting it to the right setup.
And take note: trading with AI is pretty risky I don't know why you ask the accuracy of the AI or the bot if you just use the default setup, you don't know if it will give you a profit or not. Without knowledge of how to use them, you might lose the whole capital.

I suggest read the guide from Binance: https://academy.binance.com/en/articles/your-guide-to-binance-trading-bots

retreat

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

what do you think about AI Accuracy in trading ?

AI is not a brain that can think for itself, it is a program that can only analyze the information given to it and draw conclusions from it, so from that, what do I think about the accuracy of AI in trading? it depends on the accuracy of the information given to it, if the information is credible, reliable, real time + supported by a good algorithm, then the accuracy of AI should be quite good in trading.

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Quote from: notMeNahh on October 10, 2024, 06:42:23 AM

Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

Hey guys...Futures trading has undergone a significant transformation, with technological advancements making the way for a more accessible and efficient experience. One notable development is the emergence of products that allow individuals to trade, copy trade, and bot trade futures contracts, such as those based on the DCMI30 index. These products have democratized futures trading, making it easier for a wider range of investors to participate in this market for me i think accuracy is around 90% success from my DYOR.

what do you think about AI Accuracy in trading ?

For AI accuracy trading, considering the amount of data that the bot takes is very important but then again most bot trading products usually have statistics you can scroll through and decide if it's worth it or not. Besides those kind of products usually have benefits that follow like this. So it's all up to you

Just checked the link. this really explained some details about GMC130 index. Ermm Bitget is the first to introduce this concept right? Cos I've not seen it on other platforms like Bybit. And what's the difference between this and normal futures trading?.

I think they are actually the first to enable this GMC130 trading index. Also as for the difference between it and futures, the major difference is you'll be a able to trade the top 30 cryptocurrencies in one index and basically more simplicity

Iamcrypticguy

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Quote from: Kelward on October 11, 2024, 02:22:26 AM

Quote from: Rruchi man on October 08, 2024, 11:47:02 AM

Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

what do you think about AI Accuracy in trading ?

Whenever it comes to trading, I always tell people that I know in trading to focus on becoming independent traders on their own from daily practice and consistency with following up the market rather than planning to start trading depending on AI or bots to make your trading experience easier or better. AI or bots should not be depended on because they can also make errors that can lead to massive losses in trading by a trader whose entire dependence has been laid on it's use. You can still become a very profitable and successful trader from practice.

I totally agree with you that traders should not depend on AI and bot, it's better to learn from experience, improve on your skills and make your own decisions. Trading is hard and newbies can start practicing with demo trading while learning from professional mentors and improve themselves. Learn from your mistakes, don't be greedy and start trading with the amount that you can afford to loose. After practicing and gaining trading knowledge it's good to start trading independently without relying on artificial intelligence.

.but could bots integration make trading easier?? That's for someone who isn't a newbie though .

Quote from: notMeNahh on October 10, 2024, 06:42:23 AM

Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

Hey guys...Futures trading has undergone a significant transformation, with technological advancements making the way for a more accessible and efficient experience. One notable development is the emergence of products that allow individuals to trade, copy trade, and bot trade futures contracts, such as those based on the DCMI30 index. These products have democratized futures trading, making it easier for a wider range of investors to participate in this market for me i think accuracy is around 90% success from my DYOR.

what do you think about AI Accuracy in trading ?

For AI accuracy trading, considering the amount of data that the bot takes is very important but then again most bot trading products usually have statistics you can scroll through and decide if it's worth it or not. Besides those kind of products usually have benefits that follow like this. So it's all up to you

Just checked the link. this really explained some details about GMC130 index. Ermm Bitget is the first to introduce this concept right? Cos I've not seen it on other platforms like Bybit. And what's the difference between this and normal futures trading?.

Richbased

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Quote from: Iamcrypticguy on October 08, 2024, 05:11:32 AM

what do you think about AI Accuracy in trading ?

The accuracy of an Artificial Intelligence is just a 60/40 chance of gaining in trading because even though using an AI may seem easier like being able to identify market trends that can be favourable to a trader very quickly and also sort out market conditions that may deviate from human understanding unlike when you are doing everything manually but there are times when it may not be efficient enough to give exactly what you want at a particular period of time especially when you involve the use of AI in numerous trades. However, AI shouldn't be used in trading all the time as there is need for you to also apply your own knowledge and techniques to see how you can efficiently make a good trade because depending so much on AI is risky and you may find yourself trusting an AI too much such that it can disappoint you at a time when you least expected.

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