If you had AI day trade bitcoin to make profits

[passwordnow]

If this is going to generate money easily, I'll find it very sketchy. Despite having the support of an AI, it's still a must to be knowledgeable about how to do it manually. But if someone proves that he's doing it, maybe there's a catch as that person should keep himself quiet and just enjoy what he's having. Anyway, are there really traders that are making their trades profitable with the use of AI? I don't quite understand how to do that since there are the features already from exchanges that allows you to trade with bots.

[Natalim]

Many questions arise if AI is working efficiently in trading but no one will be able to answer them straight and say YES because, in the first place, it was not the AI itself but the program inside. AI already existed for quite a long already but it was created not for trading, therefore, is not really suitable use for trading. 
However, I was waiting for someone who would show us some proof but for now, AI in trading is uncertain. I'd rather do it and use my personal knowledge than use this technology for a test.

[TheSpiral]

AI trading bot will cause your trading more risky because trading requires your knowledge which AI trading bot never possess and if they are operating your trade. One benefit of AI trading is that they don't possess any emotions which is a big enemy of humans which cause a failure.

In day trading AI bot cannot make quick decisions which is a necessary part of Day trading. In AI trading bot you have to make some management but as you are familiar that crypto industry cannot be believed easily that is why without knowledge and experience one cannot get benefit even by using AI bot.

[Maslate]

Nothing is easy in trading. If you come across an advertisement claiming AI trading brings consistent profits, you should be skeptical because if it were that successful, it would already be very popular, and many people would be using it. However, I haven't seen many success stories from people using AI trading. If there are some, they might be affiliated with the companies selling these systems or trying to promote their subscriptions.

It's wise to learn how to trade yourself and to keep learning until you become consistent. That way, you are being realistic and not relying on others to achieve your success.

[Fivestar4everMVP]

How would one do so efficiently? I am very interested.

I don't know if you actually mean Ai or trading bots, I personally have never used Ai to trade before, and neither do I even know how to use it yet.
But I sure have used trading bots to trade on several occasions, but unfortunately, my experience with using the trading bot is not good, every trade I did with the bot always ended up in a loss, and I always made use of the recommended set up, yet, I still loss .

So I don't know if it's trading bot you mean or Ai, but what I can say is that, machines can never be as smart as the human brain, if you take the time and train yourself to become a very good trader, you will achieve it and trade more effectively and efficiently than any Ai or bot that currently exists or will ever exist .

[rojan]

I do not support it and it is not wise to trade Bitcoin using any bot. Because the bot never guarantees profit, you should learn about trading yourself and then do day trading in Bitcoin after doing a good research. But I also think that choosing Bitcoin for Day Trading is not the right decision.  If you want to invest in Bitcoin, you have to hold long-term, then profit is guaranteed from here. Although I do not give financial advice to anyone, since the creation of Bitcoin, there is no history of long-term losses from holding it. So you should choose Altcoins for day trading and decide to hold Bitcoin long term

It is not possible to make that much money by day trading from Bitcoin so we have to hold Bitcoin for long term. If I invest in Bitcoin now and wait for few months then we can make good amount of money. But on the other hand day trading from Altcoins every day  We can earn some good money. But trading Altcoins day trading cannot be done thinking that we can make profit every day. While trading there can be both profit and loss so if we can accept profit loss and trade it will be very easy for us.

[Frankolala]

 If it was possible, many traders would not be looking for trading signals and those group that are giving trading signals out would have made billions of dollars secretly. AI is been programmed based on past event and don't also forget that trading needs skill, strategy and risk management. In trading if your trading strategy is not working,you are to try a new strategy, how will AI do that.

Bitcoin price cannot be predicted by humans that created the AI, so how will it be possible for AI to predict the market. In trading there nothing like making only profit, you will make profit and also run at loss, but you are the one that will do the risk management, to make sure that you make more profit than loss due to the volatile nature of bitcoin.

[tjtonmoy]

I don't know about AI trading but what I do know is trading bots. But in order to use it, you'll have to learn the trading process yourself and know how to code. Because you can not just go out there and use someone else's bot. That's way too risky for anyone. So the process will go something like this. You will have to learn how to code and create a program. Let's just say you know how to do it and now you have created a bot. Then you will also need to learn about trading. Then feed that data to the bot in order to create a program that will do the trading automatically for you.

Now let's say you have achieved both. Here comes the tricky part. The bot won't run as smoothly as you thought. It will run for 24/7 365 days if you program it to do so. But the market does not move in the same pattern always. It changes from time to time. So if you run the bot infinitely with the same strategy, it will eventually make losses instead of profits. Also, bots and AI both run without human emotion. And most of the time the market makes its move based on sentiments. In that case, the bot or AI won't work. And trying to implement such a thing to do day trading is way too risky IMO. Just do it on your own mate. You will learn something that will stay with you till the end. And this is thinking about the future.

[justdimin]

How would one do so efficiently? I am very interested.

I don't know if you actually mean Ai or trading bots, I personally have never used Ai to trade before, and neither do I even know how to use it yet.
But I sure have used trading bots to trade on several occasions, but unfortunately, my experience with using the trading bot is not good, every trade I did with the bot always ended up in a loss, and I always made use of the recommended set up, yet, I still loss .

So I don't know if it's trading bot you mean or Ai, but what I can say is that, machines can never be as smart as the human brain, if you take the time and train yourself to become a very good trader, you will achieve it and trade more effectively and efficiently than any Ai or bot that currently exists or will ever exist .

There is no AI that you can use to trade, there are bots that people label as AI but it's not AI that they sell, it's just a branding thing. You can go search any AI trading bot out there today, and you will realize that it's just basically a software that uses certain things that the creator showed the bot how to do, and then the bot does it for you.

It's basically a robotic worker, that's it. You tell it what to do and it does what you tell it to do is not AI, you teach it something and then it checks out how it can be done and finds ways to optimize it etc, even decline to do it if it looks dangerous, that's AI, even machine learning would be better, the more it trades the more it learns, checks all the data, makes a trade, if it's profiting then it knows how to.

[Nrcewker]

How would one do so efficiently? I am very interested.

I must say we aren’t ready for a stage where we can completely rely on AIs. AIs can be used to gather information, but completely using as auto pilot is very risky. AI provides information by browsing the web, so the information is sometimes not accurate. So how you can completely trust on something like this with your hard earned money? Yes integrate AI in the trading process but don’t leave everything completely on the AI to do. AI can’t never replace human’s brain and skills.

[teosanru]

How would one do so efficiently? I am very interested.

I didn't get your question but yes if AI comes to this arena as well then the competition of markets will eventually come to the best tech Instead of having the best trading skills or economic skills, which is really sad. Just like F1 most of the companies will race upto getting the best hardware and software in order to make the AI as intelligent as possible and mint as much money as possible.

[Twentyonepaylots]

If this is going to generate money easily, I'll find it very sketchy. Despite having the support of an AI, it's still a must to be knowledgeable about how to do it manually.

If if you know how it works it will not be very sketchy at all. AI is proven to be helpful, technically in everything, from finance to healthcare to transportation, etc. there is so much potential in AI but the potential threats also persists. AI could be one powerful tool in trading, I don't use it but if I were to develop one AI use-case then it's definitely worth building around crypto especially in trading where I can make money in a daily basis, I mean thousands of $ everyday.

But if someone proves that he's doing it, maybe there's a catch as that person should keep himself quiet and just enjoy what he's having. Anyway, are there really traders that are making their trades profitable with the use of AI? I don't quite understand how to do that since there are the features already from exchanges that allows you to trade with bots.

This is a topic for a long discussion, just like everything else that gives you a step forward, if I'm benefiting from AI in trading then I won't tell to it anybody as it would only lessen my advantage with the market. Bots and AI must have in one category but I do believe there is a big difference between these 2, and I think is more comprehensive than just bots where you can just configure settings, unlike AI that it has its own reasoning and decision-making efforts.

[Hamza2424]

Hmm, interestingly, I haven't posted anything on this redundant topic yet; in fact, I think I may have overlooked it. Aside from that, OP, I think you should make a little more of an effort to start a new topic for the rest; in my opinion, AI is not yet able to handle trades of any time, but shortly, based on AI and our historical data, we will be able to trade with the AI on any timeframe, and even more efficiently.

But there are some issues with AI trading, and since the topic is redundant, the concerns tend to come up again and again, It can lead the market to lose the significant volatility factor, as the trading market is completely based on emotions and we can not bring the emotions in the AI, so far for the regular trading the AI can help in efficient trading. Let's wait for the AI to come up with the proper integration with the crypto trading market then we can discuss this topic in a more descriptive nature on experience for now I would like to advise my cello to focus on learning polishing if the trading skills rather than waiting for the shortcuts.

[Dr.Bitcoin_Strange]

Normally, trading has never been so profitable for all traders, and there's no way you can just start using AI to make money from trading without having proper knowledge about trading Bitcoin. If traders were very profitable trading with AI, it definitely would not delay up to two months before it will dominate globally about the  AI that has been able to make more successful trades than a real trader. I would say you should keep learning and improving your trading skills rather than relying on AI traders. But there's also this trading bot that allows you to set the buy or sell price of the asset you are trading, and it can just be automated to execute the trade for you, but that doesn't mean you will be making profit all day.

[TimeTeller]

Normally, trading has never been so profitable for all traders, and there's no way you can just start using AI to make money from trading without having proper knowledge about trading Bitcoin. If traders were very profitable trading with AI, it definitely would not delay up to two months before it will dominate globally about the  AI that has been able to make more successful trades than a real trader. I would say you should keep learning and improving your trading skills rather than relying on AI traders. But there's also this trading bot that allows you to set the buy or sell price of the asset you are trading, and it can just be automated to execute the trade for you, but that doesn't mean you will be making profit all day.

This is why a lot of newcomers are getting this wrong. They thought they don't need to do anything and just deploy the AI.
What they don't know is they still need to program or set-up. They need to create, test and run those AI bots.
And if you have no idea about basic trading, how can you program your AI? You are just heading to bankruptcy.
So better equip yourself with actual trading skills and once you have sufficient skills, maybe you can create your AI trading bot to simplify your trading activities.

[freedomgo]

If I actually found a way to use AI to trade bitcoin or whatever cryptocurrency or asset in general effectively, simple — why the heck would I tell anyone? I'd just use whatever method that is and use it heavily until it doesn't work anymore. There's no way that strategy would come out of my mouth.

That's how a typical trader should be. If you are making a lot of opportunities from AI and is giving you exceptional profits, then you will never care to share it to others unless if you are not making a positive outcome from using it. AI will never be reliable and will never give you sufficient profits just like you think. Instead, it will only put your trades at high risk since you are dealing with a very volatile market in the first place.

[lalabotax]

How would one do so efficiently? I am very interested.

It cannot be denied that AI trading bots can help us in carrying out day trades, increasing or getting profits. Moreover, this is a really paid AI bot which is already credible, it's not just the free ones that we use. Basically, once again, trading bots are a tool in trading, so we shouldn't use them as our only business in trading. In this case, we still need adequate knowledge and continue to update it when trading, so that we can truly optimize the function of the AI bot.

Without adequate knowledge, the bot's performance or settings or management will not be effective and optimal, in fact will end in vain. So, don't ever think about AI, we don't need to do anything. We will still need ourselves to understand crypto, trading, the AI bot itself, and also various things related to crypto space. Apart from that, even though we use AI trading bots, we also have to be able to manage our own finances well, as well as the risks that we might still face in the future. The point is, don't be lazy because there are AI bots and leave everything to the AI trading bot. This would be unwise and not that optimal.

[kingvirtus09]

How would one do so efficiently? I am very interested.

I don't think the AI trade method is profitable for earning bitcoin. Because the trading bot and AI are almost the same, the only reason there was AI trading is because AI became trending, so it seems that the trading bot just had an opportunity to get profit again through it.

Then those who say that it is effective are obviously just hyped by the majority who say that it is good to use AI trading. No one can even say that it is a guarantee to get Bitcoin earnings using AI.

[aylabadia05]

How would one do so efficiently? I am very interested.

No. Daily trading using AI is not good in my opinion, especially daily trading for Bitcoin.
So far, there has been no intention to try using it on any coins in daily trading. Apart from trusting my own analysis more in looking at price indicators, daily trading is not an interesting activity for me to do.
The risks of day trading are the main reason I don't want to do it considering the market is very volatile at all times.

My answer is, it's not efficient. Bitcoin is for the long term not for day trading. If you are interested, hopefully you can find your profit target.

[AnonBitCoiner]

How would one do so efficiently? I am very interested.

I don't think the AI trade method is profitable for earning bitcoin. Because the trading bot and AI are almost the same, the only reason there was AI trading is because AI became trending, so it seems that the trading bot just had an opportunity to get profit again through it.

Then those who say that it is effective are obviously just hyped by the majority who say that it is good to use AI trading. No one can even say that it is a guarantee to get Bitcoin earnings using AI.

If AI trading bot is designed with modern features and real time accurate data then I think we could expect good profit from AI trading bot. It is not right to say that AI botsbare not profitable. Some paids AI bot are so much useful and if we have some kind of knowledge to use it then it is more beneficial than trading bot. as a trader we should first research well and use AI bot different times in different condition and then choose best one for trading. some AI bot are worst than trading bot so proper research is needed.

I haven't used any AI or trading bot yet and like to trade manually. Have anyone used AI bot (paid or unpaid) worth to use it for day trading?