Which is more profiting self trade or AI - page 4.

Fivestar4everMVP

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Quote from: Odusko on July 17, 2023, 03:10:15 PM

Lately, there has been some development here in the integration of AI in trading on some stock assets and cryptocurrencies, and to a large instead, AI has ground in acting and executing trades and recording profits, but it has not been for long so as we can't tell what the success rate will be, but for the fact that the reality on the ground has shown and proven their existence in trading stock, so as that which one will you prefer if AI is proven to be effective.
Will you prefer to trade with AI or you prefer to do the trading yourself?

we all trade to make profits and not loses, If trading with Ai is proven beyond all reasonable doubts to be very and highly effective, then I don't see a reason why I will not or shouldn't use, as long as making profit is the end goal.

If anytime I feel bored, I can still trade on my own as a means of exercising my mind, but I must make sure to have those Ai scoping all the profit for me, but at the moment though, I still do all my trading myself, I don't trust any Ai bot at the moment, and even if I wanna try out an Ai, I will do so with a very small amount of money,

By the way, last time I tried trading with a bot on kucoin, my experience was not good at all, it was as if the bot was set up to only loose trade instead of win it, so I stopped using bot until I find a good reason to try it again.

eaLiTy

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Quote from: Odusko on July 17, 2023, 03:10:15 PM

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but for the fact that the reality on the ground has shown and proven their existence in trading stock, so as that which one will you prefer if AI is proven to be effective.
Will you prefer to trade with AI or you prefer to do the trading yourself?

From what i understand, you will be able to create a bot with the help of the AI technology that is available right now and you need to set the trade inputs so that it will be able to execute them. In this scenario, how affective it can be depends upon the input you provide. If there is a situation where AI is able to determine the inputs and execute the trade themselves without any human interventions, then i will prefer to trade only with AI, till then i provide the input which is not a huge game changer.

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Quote from: AnonBitCoiner on July 22, 2023, 03:23:28 PM

Quote from: Odohu on July 20, 2023, 10:59:14 AM

One of the greatest weakness of traders is emotion; human emotion always interfere with our judgement, this is why traders loose while using even a winning strategy. So I believe if AI is well trained on a proven winning strategy, the aspect of emotion will be eliminated and the result will be far better than human managing the trade.

The major challenge is that AI have not been proven to be adaptive as the market in itself changes over time. In all, suitability is the key as everyone will opt for what best work for them.

Yes true that emotions are the big enemy of one's success and because of these emotions one cannot make true and correct decision. While that of AI is not dependent on emotions and the features of emotion is not present in this technology.

It is the ability of humans that if they loss trader then they follow their emotions instead of learning about their weak points so because of this they convert the activities of trading into gambling. While that of AI which just completed the command so they don't think about their success and loss.

Emotions could affect everything, I could agree with that and the use of AI is somewhat a good option. But it was too early to rely on them, of course, they don't have emotion and they function based on what we programmed to them. However, it was not the basis of saying it was more profitable because that will also depend on the traders who send commands to it. Maybe this will be a big help for busy people but for us who have plenty of time to face on the computer, I'd rather consider myself doing it, and aside from that, I'd be learning more.

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Quote from: Odohu on July 20, 2023, 10:59:14 AM

One of the greatest weakness of traders is emotion; human emotion always interfere with our judgement, this is why traders loose while using even a winning strategy. So I believe if AI is well trained on a proven winning strategy, the aspect of emotion will be eliminated and the result will be far better than human managing the trade.

The major challenge is that AI have not been proven to be adaptive as the market in itself changes over time. In all, suitability is the key as everyone will opt for what best work for them.

Yes true that emotions are the big enemy of one's success and because of these emotions one cannot make true and correct decision. While that of AI is not dependent on emotions and the features of emotion is not present in this technology.

It is the ability of humans that if they loss trader then they follow their emotions instead of learning about their weak points so because of this they convert the activities of trading into gambling. While that of AI which just completed the command so they don't think about their success and loss.

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Quote from: Mr. Magkaisa on July 19, 2023, 02:07:35 AM

Quote from: Odusko on July 17, 2023, 03:10:15 PM

Lately, there has been some development here in the integration of AI in trading on some stock assets and cryptocurrencies, and to a large instead, AI has ground in acting and executing trades and recording profits, but it has not been for long so as we can't tell what the success rate will be, but for the fact that the reality on the ground has shown and proven their existence in trading stock, so as that which one will you prefer if AI is proven to be effective.
Will you prefer to trade with AI or you prefer to do the trading yourself?

- This is for your information, if you know the trading bots called before way back 2017, the crypto community in this industry did not pay much attention to it. Now, this year AI started making noise and even today it is still making noise in the crypto world.

But the truth is, the trading bots back then just replaced the trading bot with AI to connect with the crypto community. In short, the trading bot and AI trading are the same, only the name has been changed because this is the trend at this time. Meaning, the natural trading that we do as traders is really different and still much more better than AI trade.

And even the AI itself isn't new either. It's already popular before and then the hype died and go back again recently. I guess that's just how it goes? The same to other hypes. Some of them are also making a comeback. It's true that AI and bots are the same but to be honest I prefer the term bots because this is where I get used to it.

Some bots can be set manually by the trader so there is no big difference to their performance. The only thing that bots do is to automate the process which is great so that we won't monitor closely our trades anymore but if you are lacking or trust or confidence to these technologies, you can always do the manual way.

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I will still give more importance to self trading, because this is where I can feel comfortable. There is no guarantee that trading using AI will make me consistently profitable, as a small trader like me does not have the power to change the market at will. AI trading can be quite usable for many traders, but many traders prefer to rely on themselves and generate profits from the market by self trading. One strategy is not always effective in the market, so a trader has to change the strategy according to the market conditions. So considering the current situation, self trading seems to be more effective than AI trading.

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Quote from: Odusko on July 17, 2023, 03:10:15 PM

Lately, there has been some development here in the integration of AI in trading on some stock assets and cryptocurrencies, and to a large instead, AI has ground in acting and executing trades and recording profits, but it has not been for long so as we can't tell what the success rate will be, but for the fact that the reality on the ground has shown and proven their existence in trading stock, so as that which one will you prefer if AI is proven to be effective.
Will you prefer to trade with AI or you prefer to do the trading yourself?

That is not a question that can easily be answered, friend.

There are crappy traders just as there are crappy AI. There are AI's that can outperforms half of all traders and there are trader that can outperform any AI.

So you see, you cannot answer the question of what is more profitable. You need to consider whether or not the trader in question is profitable and how profitable. And then compare that to the data of the top AI trading bots and then you have your answer.

I do not see myself one of the top traders in the world but I can make better predictions than any trading bot that I know of. And that includes AI bots.

Furthermore, trading in itself is something intrinsically impossible to be 100% predictable. So either way, you are still risking a lot on a gamble or a gut feeling. Whether that gut feeling should be to trust in a trading bot more than you do yourself cannot be answered by anyone but you.

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Personally I combine both, and I feel there are benefits to both approaches. While self-trade allows you to trade on your own terms amongst other benefits, AI trading helps you remove emotional bias. Lately AI Grid trading on Bitget has been really productive for me but the final calls are still yours to make.

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Quote from: Nrcewker on July 21, 2023, 11:37:17 AM

If AI gives 100% success results then definitely all will prefer using AI for the trades. But we know this isn’t possible. So yes self-trading is appropriate for making less loss and good profits. AI could be helpful for gathering information about the coins and the market but completely auto trading using AI is not recommended. I mean who wants to rely on AI when it comes about money. If due to the ETA, your money went into loss, you can’t make any one liable for this. So yes currently at this stage, self trading is good.

AI is still in its early days and we need to wait to see how much AI can earn in place of humans. So far there is not much evidence that AI can earn in place of humans. To my knowledge AI can be used as your assistant while making trading decisions and can be used in place of humans only at times when its not possible to do trading in person. If you rely on AI for trading in place of you then there are chances that you may end n loss. Let this technology get matured first.

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Quote from: tvplus006 on July 21, 2023, 11:18:22 AM

As I understand it, AI is constantly developing and, accordingly, its skills are being improved, which may relate to decision-making for trading. But definitely, by transferring control over your finances, it will be like giving your money into trust management.

Yes exactly. The moment AI get's access to manage your assets, it's like your funds aren't yours anymore. Also, even with constant development and self-learning, when there's something new on the internet, AI needs to be programmed to understand it. Or with self-learning technique, it will require some time as well. Not to mention, it may not be 100% correct. Either way, in that little amount of time, many things could happen. Volatility is not a joke and little movement could shake the whole market sometimes.

To understand it better, market sentiments. It is controlled by human emotions. As far as I know, AI is unable to understand human emotion. And it lacks emotion too. So, if the market is affected by market sentiments, AI could make mistakes. So, considering everything, it is always better to do it on your own.

Nrcewker

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If AI gives 100% success results then definitely all will prefer using AI for the trades. But we know this isn’t possible. So yes self-trading is appropriate for making less loss and good profits. AI could be helpful for gathering information about the coins and the market but completely auto trading using AI is not recommended. I mean who wants to rely on AI when it comes about money. If due to the ETA, your money went into loss, you can’t make any one liable for this. So yes currently at this stage, self trading is good.

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Quote from: RewFrew on July 20, 2023, 01:57:34 PM

My thinking self trading is more profitable from AI trading. AI trading is just like a bot trading only follow instruction. But self trading is depend on a person decision. So i think self trading is best it can easily change decision anytime.

Technology can take the steps you can take manually in trading but you can never take those steps in trading. Trading through this AI technology will only work in certain systems but when you do your own trading, you will be able to master various trading strategies within yourself, which will increase the chances of being profitable in the field of trading. Relying on yourself is the most important thing in trading. You can take help of technology but don't rely on technology directly especially in trading, if technology is responsible for trading, technology will not understand the importance of your money as a result of which there is a possibility of losing your money so it is always wise to trade by yourself.

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Quote from: tjtonmoy on July 20, 2023, 02:38:40 PM

Not having control over what you are doing is not something that I want. And what about the fact that the crypto market is unpredictable? One strategy will never work for long. AI may have self-learning technology, but you need to provide it first. If it is a new thing in the market, how will AI detect it and change its actions accordingly? ..

As I understand it, AI is constantly developing and, accordingly, its skills are being improved, which may relate to decision-making for trading. But definitely, by transferring control over your finances, it will be like giving your money into trust management.

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Quote from: DoublerHunter on July 20, 2023, 05:48:06 PM

^ The ethical aspect of entrusting everything, including managing our finances, solely to AI is a valid concern. While AI can be a powerful tool, complete reliance might pose risks and uncertainties. It is important to retain human control and decision-making in trading processes.
In my own opinion, AI should serve as an assistant or a reliable source of market insights and trends. Probably by utilizing AI in this manner, we can benefit from its efficiency and accuracy while maintaining full control over our trading strategies. It could be striking the right balance between human expertise and AI assistance will likely lead to more successful outcomes and a greater sense of security in our trading endeavors.

AI or bots to me can be more reliable than to a human because it removes emotional and biased factors when it executes the trades or trading strategy. It also operates 24/7 which gives you free time to read or predict your next move on the current market

mvdheuvel1983

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Self trade - nothing beats it or comes close.
I keep telling people that not all trades follow the rules of the books..for some trades, you specifically have to follow your intuition, your instincts and go against everything you have know about trading beyond every reasonable doubt. AI can do this. AI is just a bunch of garbage in garbage out tied together with ifs and where statements just as we already know. But nothing stops a trader from combining both of them. Sort of like human controlled but machine assisted trading. Yes. This is possible.

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^ The ethical aspect of entrusting everything, including managing our finances, solely to AI is a valid concern. While AI can be a powerful tool, complete reliance might pose risks and uncertainties. It is important to retain human control and decision-making in trading processes.
In my own opinion, AI should serve as an assistant or a reliable source of market insights and trends. Probably by utilizing AI in this manner, we can benefit from its efficiency and accuracy while maintaining full control over our trading strategies. It could be striking the right balance between human expertise and AI assistance will likely lead to more successful outcomes and a greater sense of security in our trading endeavors.

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Personally, I love technology and AI is the technology that almost beats all technology today.
AI is developing rapidly and almost in all sectors including trading.

But is it very ethical to entrust everything to AI including the management of your money when trading?
It's good that we as users have full control and not AI piloting.

AI is used only as an assistant or reminder of how the market is going.
Selt Trade should still be done and AI becomes a good assistant.
This will provide more benefits, because we will also have full control.

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@OP, AI exists to automate some of the repetitive tasks that usually occurs in our workflows, it doesn't do so much when it comes to predicting events especially events that are not powered by mathematics alone such as trading or gambling. It might be right sometimes but I'd say it's just being lucky. Where today's AI technologies would really excel is journal documenting, analysis based on past trades but the trader itself should have the final say on which direction of the market the trade should be.

Personally, I would still trade on my own but would automate most part of the trading process (like journaling etc, backtesting, etc).

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Quote from: Odusko on July 17, 2023, 03:10:15 PM

Lately, there has been some development here in the integration of AI in trading on some stock assets and cryptocurrencies, and to a large instead, AI has ground in acting and executing trades and recording profits, but it has not been for long so as we can't tell what the success rate will be, but for the fact that the reality on the ground has shown and proven their existence in trading stock, so as that which one will you prefer if AI is proven to be effective.
Will you prefer to trade with AI or you prefer to do the trading yourself?

If that is PROVEN, then I would choose it as this could help us to maximize our time as this can work 24/7. While resting, someone does the job for us. Yet, it was just hearsay for now, I'd think there is a technology designed to perform such a task perfectly knowing that it was made and programmed by human beings. Because if does work great, it means that person is a good trader and predictor but of course, it won't as the market is unpredictable, and that is the reason that we can't just rely on AI to do trade. It looks more profitable if we did it personally than relying on them.

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AIs can't exceed beyond what human intelligence can do. They still have limitations and they can't also provide a 100% reliable and accurate result though we can't deny the fact that they could be a big help in trading. However, if we are being analytically strategic, it will be better to do trading on our own.
We can make better decisions based on our situation if we will do trading ourselves. We will also be able to put limitations and proper control on what we do. It will be wiser if we will be fully equipped with knowledge about trading so we can trade with confdence and without too much fear.

Topic: Which is more profiting self trade or AI - page 4. (Read 931 times)