A relatively new technology, artificial intelligence has already changed the world around us. While it is still mostly used to suggest your posts on social media, its possibilities are literally endless, and it can be used in just about any industry. Of course, AI-based products are especially useful in trading: they can learn, think, analyze data, and operate much faster and more effectively than any human. In this article, we’re going to tell you about the most impressive of existing AI trading solutions.
About AI bots
While computers with all their analyzing power have been used for trading for decades, AI works in a rather different way. Traditional trading bots follow the program you’ve installed, allowing you to trade without actually intervening. However, these can’t effectively react to radical changes on the market, so you still have to control them. AI trading bots are more flexible: they can quickly analyze historical data, learn from it, and make weighted decisions in a split second even on a new market.
AI solutions analyze data much faster than any human possibly can, and they are not prone to greed or fear, making them very effective for trading. Of course, the most advanced solutions are owned by major financial institutions, and a common trader can’t possibly access them. But there are numerous AI-based bots on the market that can be used by anyone for a small fee.
Trade Ideas is one of the leading developers of AI-based solutions for stocks trading. Its AI-enhanced stock screener is widely considered the best solution of its kind. The software allows you to analyze a variety of markets at once and discover only the best opportunities for profitable trades. There are 70 built-in strategies that can be used for algorithmic trading, and the standard option costs just $84 per month.
TrendSpider is another effective AI-based tool that can help you look for profitable trades on a variety of different markets including the stocks and Forex markets, switch between strategies, customize the bot, and set your own price alerts. The basic option costs just $33 per month.
This platform is a great choice for novice traders because it can be used for free. Tickeron allows you to scan different markets, predict strong trends, and customize your experience to match the strategy you’re using. It also allows you to work with cryptocurrency.