AI changes the dynamics of trading big time

More and more people are getting into trading. Especially day-trading seems like a great way to earn extra money, but what if this is too time-consuming? Does this mean you can't trade as much as you would like without investing a lot of time? AI trading bots promise to change the trading game, but is it as lucrative, and is AI a great way to trade? Find out in this article!

AI in trading – Is that even a thing?

AI trading bots are now available for every trader that wishes to invest in this software. Since trading goes hand in hand with statistics and analysis, working with so much information can be time-consuming and overwhelming, but I can help with that. These high-performing bots analyze the market, the assets and implement strategies within a few seconds. Rather than checking the market 24/7, bots will trade whenever a particular asset hits a specific target. On average, these AI trading bots make a profit of about 2,5 to 4% with each trade and therefore can be pretty lucrative. Sure, you shouldn't just go for any AI trading bot, but you should do your research since you will give this tool the authority to buy and sell assets on your behalf, and therefore it should be trustworthy. One of the best ways to determine if an AI trading bot is legit or not is to look at the reviews. Like broker reviews, will AI trading bot reviews give you a good feeling of how good or bad a bot is. If you are interested in Forex trading, you should look at the fitting boots. According to Trusted Broker Reviews, the broker Forex Factory might be a good choice. Have a look into it and decide if trading Forex is the way to go for you.

What to look out for in an AI trading bot:

Here we want to introduce you to the most common aspects that you need to know when it comes to AI trading bots, besides doing your research and going for a legit bot!

It needs to be double-checked

Even though the idea behind AI trading bots is that you save a lot of time and energy, this doesn't mean you should double-check the trades. Especially if you just start using the bot, you need to be sure that this bot makes the right trades, and therefore you need to check constantly.

It can save you a lot of work

It can save you a lot of time and work if you go for the right bot. You need to give it all the information, for example, what assets you want to trade and at what rate it should buy certain purchases, and when it should sell it.

Scammers out there

Unfortunately, scammers are usually not far away, where there is money involved. That's why you need to be extremely careful when you choose an AI trading bot and start to invest your money.

Do we advise you to use AI in trading?

Yes and no! It always depends on how good your AI program is, but there is always a risk of using these types of bots. We recommend going one step at a time and using a bot with a small amount of money. This way, even if it is not working out, you don't lose too much money. An AI trading bot can be great, though, if you can make wise investments without needing to put the money in. Since the technology is evolving, it is just a matter of time until AI trading bots are the way to go!