Before we ask why, let’s ask: does AI fail here? There’s a common misconception that AI can’t helpfully predict markets, making it useless for trading. However, the usefulness of AI depends entirely on how it’s applied. AI can be extremely beneficial for traders, as it analyzes information at incredible speeds, and is not affected by human emotions when trading.
AI doesn’t fail as a part of good market trading strategies. Used right, AI is a valuable tool to any trader.
Many believe AI is the trading tool of the future, and perhaps humans will be rendered useless due to the superior abilities of AI. For now, we should view AI as a valuable tool to cooperate with in order to maximize our chances of profit in the market.
AI is a fantastic tool, but it does have its limitations.
Despite having limitations, the benefits of AI are instrumental, making it a necessary tool for a profitable trader.
There are many tools that a profitable trader needs to use to be successful, including analysis, execution and experience. AI is great at analyzing the market and presenting its results in forms of signals or alerts. Using AI does not immediately make you a profitable trader, but it definitely increases your odds of success significantly.
There are some great tools built using AI which any trader can use to become more profitable. Two of the best are BetterTrader and Trade Ideas.
– AI tool for FX\Futures, trade ideas, and macro news coverage
BetterTrader is an AI program that takes scheduled news and studies how it affected the market when it happened in the past. For example, you are able to see how a below-expected unemployment rate release affects the S&P 500. This program provides you with trade ideas that are based on statistics and suggests actions for you.
– AI tool for stocks
Trade Ideas is a platform which allows you to use AI manually, or let it trade automatically. You are able to select from different market sectors to find trading ideas. Holly the AI engine is claimed to teach you how to be a better investor. Its simulated portfolios have beat the S&P 500 index.