What is stock trading software with artificial intelligence?
How does it operate in practise?
Is this, as many expert traders expect, the future of trading?
Also, how does artificial intelligence play a role in stock trading?
Finally, can artificial intelligence stock trading software truly assist you in improving your trading performance?
If so, which artificial intelligence stock trading software is currently available on the market?
What Is Stock Trading Software With Artificial Intelligence?
So, what exactly is stock trading software using artificial intelligence?
Let’s start with a definition of artificial intelligence.
“Artificial intelligence (AI) is the simulation of human intelligence processes by computers, particularly computer systems,” according to Wikipedia.
Speech recognition is a good example of artificial intelligence (e.g. Siri).
So, what role does artificial intelligence play in stock trading software?
Machine learning is used by artificial intelligence stock trading software to research and evaluate market circumstances and trade patterns, then anticipate what will happen.
Because of two distinct advantages, it’s safe to argue that artificial intelligence represents the future of trading:
No human being can process as much market data as quickly as AI.
It can continuously monitor and scan the market in real-time.
You see, with thousands of equities listed on the stock market, manually scanning the entire market to seek for your preferred trade settings is impractical.
It may have worked for you in the past if you used manual technical analysis to day trade equities.
However, as a trader, you are well aware that speed and timing are critical to your success.
Would you still be able to enter your trade at a good price if other traders were using automated stock trading tools to assist them find profitable trade settings faster than you?
Most likely not.
You may have artificial intelligence stock trading software scan the market for you 24 hours a day, seven days a week to locate your trade setups in real time.
If you’re constantly trying out new trading techniques, you’ll appreciate what artificial intelligence stock trading software can offer.
When it comes to back-testing, having AI execute the backtest for you in minutes would save you a lot of time.
Gone are the days when you had to manually backtest each of your trading techniques by pulling out the charts, scrolling carefully.
Trade Ideas is the best artificial intelligence stock trading software.
In terms of features and performance, Trade Ideas is arguably one of the top artificial intelligence stock trading software for retail traders.
So, how can you put Trade Ideas to work for you?
Trade Ideas has three important tools to offer:
Holly AI OddsMakers is a stock scanner.
Let’s take a closer look at each one.
Scanner for stock ideas
Other stock scanners, such as Finviz, are available, but they are limited in their ability to help you uncover trade ideas for intraday trading.
The fact that Trade Ideas has over 200 built-in filters and alerts sets it apart from other stock scanners.
Basically, Trade Ideas can help you uncover any chart pattern that can be represented on a chart and alert you in real-time.
Its built-in scanner is one of the most powerful I’ve ever seen.
It was created specifically to assist day traders in locating their preferred trade configuration in real-time, ensuring that they do not miss out on any profitable trading possibilities.
Holly AI is a built-in trading robot in Trade Ideas.
It employs roughly 50 artificial intelligence trading strategies.
This is how it goes.
Holly artificial intelligence does backtests on these methods for the previous three months every night after the market closes.
The backtesting outcomes, such as the equity curve, risk-reward ratio, and drawdown, are then examined, and the techniques are then optimised.
Overnight, Holly AI is processing over a million trading situations.
After that, it will consider the present market situation and consider everything from fundamental to social factors.
Before the market opens, the AI Strategies Window will present five to eight trading strategies with the highest win rate.
It also tells you when to enter and when to leave.
Essentially, it provides you with a whole trading strategy.
The nicest thing about employing AI is that it will almost certainly make better trades than you do because it manages transactions without emotion.
So, how has Holly Artificial Intelligence performed so far?
In 2018, HOLLY AI’s after-commissions performance in Risk-On mode was 94.1 percent, whereas Holly’s risk-off performance was 32 percent.
Before commissions and fees, the portfolio’s gross return was 111 percent.
The S&P 500, as measured by the $SPY index, lost 4% during the same time period.
So, how do you apply Artificial Intelligence to Trade Ideas?
You have the option of following Holly the A.I.’s trade recommendations and executing the transactions yourself, or you can have Holly the A.I. trade for you with Brokerage Plus.
Brokerage Plus is a Trade Ideas auto-trading module that allows for automated, semi-automatic, and manual portfolio management and trading with your brokers, such as Interactive Brokers.
Now you may get free trade ideas every week!
Maker of Odds
OddsMaker was a programme that allowed anyone, including traders with no programming skills, to backtest any trading strategy to check if it had a statistical advantage.
So, how does it function in practise?
You can utilise OddsMakers to test and optimise your approach if you have a trade idea for the next trading day.
What’s cool is that you can utilise a lot of the built-in filters and alerts to “programme” your strategy without having to write any code.
Let’s imagine you want to see if the chances are in your favour when you want to short a stock that has dropped significantly today and is expected to break support the next day.
So, with a few clicks, you can construct your strategy using built-in filters like “prior day change” and built-in alerts like “support break.”
When you’re finished, run it with “OddsMaker.”
It will offer you an equity curve at the end of the back-testing to show you whether the strategy has a decent chance of working out or not.
Furthermore, you can use “OddsMaker” to optimise which parameters can be changed to improve the results of your trading strategy.
If you’re a committed day trader, Trade Ideas’ AI Scanner, which is one of the best on the market, is well worth your time.
Now is the time to try out Trade Ideas!
TrendSpider is a trading software that automates technical analysis and was created by traders for traders.
Its one-of-a-kind set of trading tools can assist you in locating superior trade settings more quickly.
Let’s look at each of its amazing tools and how you may use them to improve your trading.
Scanner for the Market
Its market scanner can automatically scan the market for the finest trading opportunities based on the technical criteria you specify.
The great thing is that you don’t need any programming skills to mix and match any technical circumstances utilising any indicator or combination of indications in one scan. (It’s all about the visuals)
What a fantastic idea!
If you’re like me and prefer to analyse different timeframes, you’ll enjoy this.
The Market Scanner in TrendSpider may search any timeline, from one minute to one month, and may even combine multiple timeframes in a single scan.
This is one of TrendSpider’s most distinctive characteristics.
Are you able to do many scans at the same time now?
Yes, TrendSpider can help you with that.
You can utilise your preferred scanners at the same time to locate good trade chances once you’ve made them.
TrendSpider can even notify you if a stock from one scan emerges in another, indicating a potential trading opportunity.
It’s fine if you don’t have any scanners in mind yet.
To help you get started quickly, there are 20 pre-built scans.
Finally, you may use your scanner to create a dynamic watchlist that is automatically updated and refreshed.
You’ll never miss out on your ideal trade setup again with Market Scanner.
So, what exactly are Smart Charts?
And how would it assist you in your trading?
Let’s take a moment to pause and imagine this for a moment.
What if when you open a chart, all of the trendlines, support and resistance levels have already been drawn for you?
What about Fibonacci retracement levels that are calculated automatically?
Or how do you like the sound of automatic breakout detection or automatic candlestick pattern recognition?
All of this may be automated with TrendSpider’s built-in automated chart analysis algorithms.
So there’ll be no more peering at charts to find important patterns or redrawing trendlines over and over.
It also allows you to discover patterns and trends that you might otherwise overlook.
With TrendSpider Smart Charts, you may save a lot of time while reducing errors and eliminating guessing.
Not only that, but there’s more.
You’ll also get real-time market data as well as historical data dating back over 20 years. (There is no additional fee for data)
If you use technical indicators frequently, Smart Charts has hundreds of indicators and studies to choose from.
You’ll also have access to the company’s advanced, unique visualisations, such as heatmaps, Raindrop Charts, and anchored indicators.
Finally, a single chart can be used to analyse multiple timeframes.
This allows you to spot patterns that other traders are likely to overlook without having to open multiple charts and manually compare them.
The great aspect is that no software needs to be downloaded or installed.
It’s entirely web-based.
If you are a dedicated technical trader, you should absolutely test TrendSpider’s Automated Technical Analysis Technology, which not only saves you time but also ensures that you never miss a trade setup.