Crypto Trading with AI: Good or Not?

[Rruchi man]

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

Instead of looking to automate your trading, it is better you master how to trade on your own first, which is very important to make sure that trading as a career for you is something sustainable that you could do for a long time. Your dependence on automation may not take you so far in trading, so while you seek automation, make sure to have the manual knowledge yourself, which is very important.

[Faisal2202]

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

I never tested any of these bots before (the ones author of the article mentioned in the last of the article) as they are easy to setup but grid trading bot is almost very common in every exchange therefore we can easily give it a try although setting it up on your own is a bit difficult so we should get a tutorial first there is not shame hehe.

I like the idea behind the author's article as he explained everything good using AI chat probably because the technologies he explained are different. I though he will mention the bots using those technologies and features to get us the up-to-date analysis and buy and sell order but the ones (types) he mentioned are not really allow us those features.

[UNIVERSE]

Instead of looking to automate your trading, it is better you master how to trade on your own first, which is very important to make sure that trading as a career for you is something sustainable that you could do for a long time. Your dependence on automation may not take you so far in trading, so while you seek automation, make sure to have the manual knowledge yourself, which is very important.

You're right. We don't rely on AI or bots in trading. If we want to develop our skills in trading, we must learn it manually. I'm very sure that no professional traders that suddenly do AI trading. They must learn trading with the natural way in trading. If you do trading automatically with bots, it means you don't need to use your skills. How to be a professional trader if we always relies on the bot or AI.

[sampoerna]

I personally can't help much, but some of my acquaintances use AI trading assistance, it's just that it's not free, it's paid. And in its implementation, they already have the skills to trade. That's why it will be really optimal.
It's just that, when we are beginners and have never used it, and we can't do it, it will be useless, it will actually cause losses. Especially if you choose the wrong and untrusted AI trading, the risk will be higher. It's not easy.

That's why, if you are not sure, it would be better for us to test our trading abilities, learn more about how to handle the market, set indicators, and several other tactics in trading. If you still can't, don't force yourself to do crypto trading, it would be much better to just invest by holding long term.

[JISAN]

I do not support trading with Ai. And I have never used Ai tools for trading. I like to trade as much as possible from my personal skills to analysis. Trading is basically not a profession it can be used as a part time income method and should be avoided as much as possible because an average trader can make good profit by short trading. It is always better to focus more on holding.  I really hate trading with Ai.

[Bobcrypto]

There are some benefits and risks associated with AI trading
moreover, AI can be used to analyze vast amount of financial data, detect patterns and make analysis about market movements etc.
However there are also risk which includes, Over dependence on historical data, Lacks human judgement, many inaccuracy and risks, no personalized strategies, and it involves cyber security risks
In a nutshell, i think that AI is good for trading if you are a busy person with some experiences, but may be irrelevant to persons who can trade and has what it takes to navigate the market with good returns over times.

[kulkhan]

I also was many post about copy trading using AI but i never use it. I think copy trading did't given always good result. So i Don't believe it. I am confident with spot trading. I think spot trading is very effective for me.

So i think copy trading is not good for me. And i always try to spot trading. And i get good profit from spot trading. But i saw many exchanger started copy trade and it being popular day by day.

If copy trading is not good for you then the target market is not you, Copy trading is used by anyone including beginners and copy trading also requires basic trading knowledge, because it still requires settings for when to buy and where to take profits.

Simply choose who to follow in copy trading and it will usually look at who has the best percentage with a high average trading profit.
And also set how much money will be used for copy trading, because we also don't know how the market is and how well the predictions are made because traders will look at the charts and the available fundamentals

Ok i got it your point. Now i trying to do copy trade i think it is not for me. For copy trade we need big fund otherwise we will not able to get big profit.
But my opinion spot trading is best. I always preferred for spot trading and i also think i need to get more knowledge about ai trading.

[Chilwell]

I have been reading many posts on copy trading and then I got interested with the subject of crypto trading using AI.  As we know, there are now "automated software applications designed to execute trades in financial markets, including stocks, commodities, and cryptocurrencies."

Surely, many would be interested to take advantage of this opportunity as we know that people really love passive income with minimal investment of time and effort. Or would this be just another hole in the dark that will suck away people's money to oblivion?

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

AI is still base on analysis,it has no emotions.

I'll never trade with AI or allow it to trade for me. AI is simply a tool that follows orders, it lacks emotions and personal opinions. It executes commands without understanding the context or intentions. What If someone with more expertise  accesses the AI, and he has bad intentions, I will be at risk of losing all my money. AI can't differentiate between right and wrong, it only understands the instructions given by the person operating it. I won't even consider trading with AI due to the significant risks involved. If something goes wrong, I won't blame the AI, as it's just following instructions.

[MrSpasybo]

I have been reading many posts on copy trading and then I got interested with the subject of crypto trading using AI.  As we know, there are now "automated software applications designed to execute trades in financial markets, including stocks, commodities, and cryptocurrencies."

Surely, many would be interested to take advantage of this opportunity as we know that people really love passive income with minimal investment of time and effort. Or would this be just another hole in the dark that will suck away people's money to oblivion?

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

Honestly, I don't like all trading-bots. I think trading should be a personal job, and bots have no personality. They are just tools to execute fixed strategies of traders for a short period. The market is constantly changing, and strategies need to be updated, and bots also need to be trained continuously to keep up with the market.

AI has more power than traders but it doesn't have enough experience or sentiment. AI cannot accurately predict market fluctuations, so I don't trust it enough to hand over my account to it. I would be happy if AI could help me analyze existing trading strategies and suggest the most suitable ones for my investment criteria.

[bettercrypto]

There are some traders who conduct their trading activities using AI, there are others who do not believe in it and others lack ideas or knowledge. But in my knowledge, the majority of traders still prefer to conduct trading in the natural way or the way we are used to.

In which is for me, that is also what I like and what I am doing so far, because it is healthier and I get a more organic way to obtain profit in the end,
and for sure other traders are doing the same.

[Chilwell]

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

Instead of looking to automate your trading, it is better you master how to trade on your own first, which is very important to make sure that trading as a career for you is something sustainable that you could do for a long time. Your dependence on automation may not take you so far in trading, so while you seek automation, make sure to have the manual knowledge yourself, which is very important.

Exactly, instead of relying solely on AI for trading, it is important to utilize your knowledge and skills to understand your capabilities and limitations. By doing so, you'll discover what you can accomplish independently, without relying on AI. If you depend on AI too much, it can lead to complacency, causing you to depend excessively on technology rather than making your own informed decisions. if you don't put your trading skills and experience into practice, you're at risk of losing them and becoming overly dependent on AI.

[PX-Z]

AI in trading, how it differs from the previous trading bots? I guess none? It is just called now AI with words like new algo, analyze for you, can adapt, and much complex.

Well, at the end of the day it is still too hard to speculate and adapt trading strategies in a more volatile assets like bitcoin and crypto. Better to get knowledgeable and acquired skills in trading than relying on these things for much better results.

[erus]

I have been reading many posts on copy trading and then I got interested with the subject of crypto trading using AI.  As we know, there are now "automated software applications designed to execute trades in financial markets, including stocks, commodities, and cryptocurrencies."
~snip~

My experience with AI is indeed good but sometimes AI also has limited capabilities because AI is also man-made. Nothing that is man-made is perfect, there must be shortcomings including AI.
Trading with ourselves also has a very big risk, especially using AI to trade. If we make a wrong move just once, our assets in crypto trading can be lost. This is very dangerous.

I do not recommend trading using AI, it is better to trade in crypto with yourself like on Spot. Buy low and Sell high.

[Mr. Magkaisa]

I have been reading many posts on copy trading and then I got interested with the subject of crypto trading using AI.  As we know, there are now "automated software applications designed to execute trades in financial markets, including stocks, commodities, and cryptocurrencies."

Surely, many would be interested to take advantage of this opportunity as we know that people really love passive income with minimal investment of time and effort. Or would this be just another hole in the dark that will suck away people's money to oblivion?

What can be your opinion on using AI in crypto trading...is it as risky as copy trading and will it be effective in churning out profits which is all what we really want in the first place?

          -      I also see a lot of youtubers like that, honestly speaking, and I don't believe almost all of them if they really make money, because since they have a lot of followers, it's possible that the profits they show are from their referral links.

And because of that, they show that the profits they get are from their copy trading and I don't believe this, because there are also a few copy trades that they show and make content for, they just say they make money, the question is, what about the content they make about copy trading?

[hugeblack]

          -      I also see a lot of youtubers like that, honestly speaking, and I don't believe almost all of them if they really make money, because since they have a lot of followers, it's possible that the profits they show are from their referral links.

99% of these channels aim to profit from referral links and therefore they do not care much about the future experience of users as long as their partners pay them commissions which vary according to the influence of these YouTubers.


So copy trading is not a smart idea.