If you had AI day trade bitcoin to make profits

[|MINER|]

AI day trading is very risky. Without adequate knowledge about this it will be very dangerous but now a lot of companies are running their company through bot creation and getting profit. But I would say before doing AI trading train this model according to previous history and rules.  Otherwise you will face many problems because Bitcoin is very volatile. So trading is high risky investment so before any kind of investment whatever you use as here you telling about AI Iwill never prefer Ai trading in the beginning level.

[jostorres]

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

I've never tried it, never wanted to. I always believe that why should I make someone or something else do a work that I can do myself and can do it more efficiently and perfectly than them? I'm pretty sure that if I learn the necessary skills and techniques, I can do the trading more efficiently than a bot and I will also be more confident and free of worries since I'll be the one managing my money and not some computer-programmed robot which doesn't understand risk or anything and will only act based on a certain criteria.

I would never feel good if I left my money in the hands of a bot even if it's powered by Artificial Intelligence because I know I can manage it much better than it. So, people who are interested in trading should take some time, learn the skills, and do it manually instead of paying for a bot and letting it do everything.

[taufik123]

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.

If you're asking if there's anyone who's profiting from trading using AI, of course, there is and there will be.
We all know AI is all the rage right now and it's about to get smarter than humans.
Using AI in trading as a trading assistant seems like a good idea, but we as the main traders still have full control.

What I know right now is that there is a new bot that is quite popular that provides information on what coins will be pumping high.
It's a kind of bot that gives a call for users to get in early and buy it because it has the potential to pump.

[Dr.Bitcoin_Strange]

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.

People that are likely to land in the hot seat of losses in trading using those AI bots are mostly crypto newbies or new traders who are just looking for a possible and quick way of making profit. "They want to use an easy AI, make the profit, and get out." Lol, but it's not just easy. There's a saying that "in order to reap, you must sow." So, before anyone can trade perfectly with bots, you still need to get educated about trading because even those AIs make mistakes, and if you are not experienced in trading, how can you even be able to figure out when the bot is making a mistake? All I know, which is what I have said before and am still saying now, is that making a profit from trading is not as easy as watering a flower, so anyone who thinks they can make a quick profit from trading while using the AI bot should think again. There's no AI trader that has really been more efficient in trading than old and professional traders; if there is any bot like that, of course every trader around the world will want to use it. No one will reject what will help him or her earn more.

[Smartvirus]

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

Such a stylish way to create a thread with no content at all and have forum users keep it busy for you. Great are your ideas friend. I would have liked a little more direction other than a thread subject and just a line on interest and efficiency!

Still, AI trading is something I’m not very much interested in. I mean, having something without some real emotions or works outside a program to control how my money works without me watching the charts isn’t something am cool with.

It gives me the chills of copy trading which I’ve never been a fan off. I get it I would be doing my analysis on this one and set my orders, TP and SL but, I’m more comfortable handling my trades when I choose to. If I don’t have that time to stay in the market or observe my trade at a distance, I stay off the market.

[goinmerry]

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

We can only know how efficient it is once we make an actual test. Familiar with such programs having an integration of AI specifically on day trading? It might be a risk though as day trading market behavior is unpredictable and even for a few seconds, expect a big chance in the trend.

Anyways, what's your reason behind the interest in using it? Want a passive income while just sitting and relaxing on your desk?

Trading should be handled and managed hands-on. If you will just depend on AI, I think that's more risky.

[poodle63]

then these AI need really good data to pull specialized for AI.
I don't think general purpose AI like openAI's GPT would suffice in this matter, since the market movement is complex it needs to be standalone AI with data aligned for such purposes.
I think there has been many AI deployed just for that and many are still in development, make me curious how efficient they are after all such thing could be determined based on the profits it generate.
considering the fact that market always stray from general textbook guides i think the profit resulted more or less will be the same as those veteran traders, but its just hypothesis.

[Crypto Library]

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

I would say if you have some knowledge about trading then it is better to use these.
Let's give another good example. Let's assume this AI is an expensive Mercedes car. You got it for free or what ever any person gifted you from somewhere. Now if you go to drive that car without knowing how to drive, I am sure your experience will not be good. Then the experience will be that both you and your car will be damaged.
Moreover, I give you another good idea, you go to AI chatgpt and ask him to answer your questions.
I asked see what the answer gave-

Remember, successful trading with AI requires a thorough understanding of both the technical and financial aspects, continuous learning, and a disciplined approach to risk management.
Additionally, be prepared for the possibility of losses and start with a cautious and well-planned investment strategy.

So the answer is here from AI.

[michellee]

If you can understand how AI works for trading, you may still have a chance to make a profit. But if not, you will not make a profit and might even make a loss.

The use of AI will also depend on market movements and I don't think AI can always replace the orders you set to follow market conditions. So you have to frequently check market conditions and change the settings in the AI to be able to make a profit.

But you should learn manual analysis and trading to have more opportunities to make a profit. Moreover, with market conditions always changing, we must continue learning to understand the steps we need to take based on market conditions. So whether you use AI or not depends on you.

[xSkylarx]

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.

Even myself I won't be telling anyone because that is one of the reasons that it will be used by everybody meaning someone will prevent it and also we are now earning profit passively and living life to the fullest but we should go back to reality it is already possible but it ain't 100% winning because it is only based on historical data and it learns over time so for sure in the future it will already be foolproof and close to perfection.

AI is still in the development stage right now and I don't see anyone using it in trading others are just using bots that were just programmed to automate your trading which will soon be developed into AI.

[Silberman]

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.

Even myself I won't be telling anyone because that is one of the reasons that it will be used by everybody meaning someone will prevent it and also we are now earning profit passively and living life to the fullest but we should go back to reality it is already possible but it ain't 100% winning because it is only based on historical data and it learns over time so for sure in the future it will already be foolproof and close to perfection.

AI is still in the development stage right now and I don't see anyone using it in trading others are just using bots that were just programmed to automate your trading which will soon be developed into AI.

Trading and investment firms have been hiring the best mathematicians and programmers they can afford for decades already, while it may not be possible for us to create an AI that trades the markets successfully and makes us money, it should be entirely possible for them to do it, after all even if the project cost them a hundred million dollars the potential profits they could get will be worth it, with this in mind I have no doubts that several AIs have been trading the markets for a long time.

[cute nmp]

I'm not into trading with bots, Afraid most of them can result in lots of losses. I prefer to trade on my own cause I will be able to control my risks and losses more than the Al. Recently watched a news where a trading firm lost up to 30 million dollars tradings with bots, Dont think anyone would like to put his money at risk that much.

[Mauser]

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

 I don't think this is going to work. Most of the AIs are all publicly accessible and if they really had an advantage over the human day trader, then all investors would be using them. There might be a difference between private AIs that have access to a lot of private information from brokers and exchanges directly, but I don't believe the general open AIs are going to revolutionize trading for the average investors. One question would be how the AI should learn to trade. In case he only works with past trading data and tries to find the optimal trading strategy, then this is nothing new. For 30 years already there has been algorithms that use technical analysis to find trend and trade on them. The other option would be for the AI to rely on current and forward-looking data, not using past trade prices. Here would be the question how reliable this is going to be. There is a lot of risk in using AI for our trading strategies, because we might not fully understand what the strategy is. Even if the AI does well at first, there is no guarantee that it will outperform the market consistently. I would be very careful to trust large sums of money to AI trading programs.

[Huppercase]

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

Would AI actually work perfectly like that in trading? I doubt about the performance and the accuracy of tbe results consistency. There is something I need to get straight, is AI not the same thing as BOT actions and we have trading bots supported by some exchange like Kucoin and others but I'm nit sure about the efficiency of tbe result because I have not give it a try before to know if they are worth it or not but personally, they can only be profitable during bull run, I don't think if they are going to do much in this bear market, you will likely get nothing or more loss from your deposited capital.

To be honest, if AI intelligent that write are actually made to resemble lst event, if such algorithm is created in trading, hands will burn because history in crypto is always different, bull run of 2018 was different from that of 2020 and surely, 2024 is going to be different from the rest as well. Now I wonder if AI is going to work perfectly like this with post occurrence.

[Peanutswar]

If you become dependent on the AI online, I will not deal with it, unless I'm the programmer who makes the AI to make my own trading so I can sure that all of the risk is in my ways, but I prefer using my strategy which is I'm the one who makes a trade base on my experience and knowledge we know we must take care with the emotions when we trade but sometimes its quite effective to risk. Also exchange or trading platform right now are offering with the specific position with the TP/SL so you can leave those trades open without hassle id rather prefer this and safe.

[Japinat]

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.

Most likely, trading with AI will only be profitable if the trader itself has high experience in trading, hence having high knowledge and potential skills when trading are also a must. Otherwise, if you are still a beginner trader and take risk trading with AI, it wont create guarantees that you’ll definitely be profitable in the end. And if ever AI trading bots are useful for them, I guess they will not care to share it with other traders but will chose to keep it on their own and make consistent profits.

[Pandu Geddon]

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

Day trading with AI will not really be profitable for you. no one will be held responsible except you yourself.
You may be interested in these technological developments, but training AI in the highly volatile crypto market will not be easy. I guess the results will still be random. this would be speculation. just like a novice trader without skills and knowledge.
never trade with such things, use your own resources to upgrade your skills in trading. This may not be instant, but if you do it consistently I'm sure you will realize the benefits in the future.

[Fuso.hp]

AI technology has made our work much easier, through AI technology we are able to do many difficult tasks easily. But even if AI technology is used in all tasks, I don't think it is a good decision to use AI technology in daily trading. A person who is very experienced and skilled about trading may be able to profit by trading using AI technology but ordinary traders or beginners will never be able to profit by using AI bot trading. We have to learn how to manage AI technology properly, if we do not have any idea or knowledge in managing AI technology then this technology can be dangerous for us. I always prefer to trade manually instead of using any kind of bot for trading.  When a person trades manually he can understand the market and take any decision at that time which is not possible with AI technology.  So we have to rely on ourselves as much as possible and learn to trade manually rather than using automated technology, but the risk of our money will be greatly reduced.

[Cling18]

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

Day trading with AI will not really be profitable for you. no one will be held responsible except you yourself.
You may be interested in these technological developments, but training AI in the highly volatile crypto market will not be easy. I guess the results will still be random. this would be speculation. just like a novice trader without skills and knowledge.
never trade with such things, use your own resources to upgrade your skills in trading. This may not be instant, but if you do it consistently I'm sure you will realize the benefits in the future.

It might cause convenience but it will not guarantee consistent result. It will be random mostly unreliable if that's what we expect. There will still be good sides and bad sides for sure which we should ready about. As for me, it will be better to have enough knowledge and skills about trading so you can do it without relying too much on AIs. It will be better if you will take responsible for your actions and decisions because we can't deny the fact that AI intelligence still can't beat us especially when it comes to decision making. Learn and try to apply effective strategies so you could make good profit.

[kentrolla]

This whole AI bot trading is not going to work when it comes to crypto trading due to volatile market as bot has to be trained and crypto doesn't follow any particular market pattern and that's why most of the prediction goes wrong so it's not feasible to train the bot. I have seen more losers than winners in terms of AI based trading. Don't fall for their marketing strategy.