Trading via an AI bot- anyone used them?

[Longy00000]

I've been looking at speculating via an AI bot on FX markets.
My initial research from the proper financial media (not reddit or FB etc) suggests they can run a portfolio successfully but if course not without risk.
Im currently away so my findings are bit slum so far but will dive deeper when I get back home.

Does anyone have real world experience?
My initial concern is am.i techy enough to set it up correctly as I think you need the bot software, probably $1000 ish, Metatrader 5 (not sure what this is yet), and a brokers account. I would then need to get them all talking to each other somehow.

I like the idea of having a bit of a punt with something like this in the background.
Any thoughts ?

[simon_harris]

I thought this was a bit of a fantasy - if it really worked and made people money then every man and his dog would be selling the heck out of it?

[Longy00000]

Plenty financial journos have had some success with them but they are a tad pricey to buy and the key appears to be setting the risk reward balance right. Any profit generated today gets lost tomorrow together with your stake, too little risk and they can bounce around in a sort of up a bit down a bit fashion.

Im interested if anyone has used them except financial journalists to get user experience.

[gmaz]

I wondered about this after watching Hannah Fry's video on OpenClaw - https://www.youtube.com/watch?v=WnzR5aOElvw

It should be simple enough to give it access to your Trading212, or whatever, account details (eek!) and let it go.

[Haltamer]

This seems like setting up a rig to pull the lever on the fruit machine to me - Probably entertaining / interesting to setup, but I’d never trust it with more than gambling budget; Any tales of massive returns I see on social media usually come from the Dubai Course instructor brigade.

[vindaloo79]

Longy00000 said:

I've been looking at speculating via an AI bot on FX markets.
My initial research from the proper financial media (not reddit or FB etc) suggests they can run a portfolio successfully but if course not without risk.
Im currently away so my findings are bit slum so far but will dive deeper when I get back home.

Does anyone have real world experience?
My initial concern is am.i techy enough to set it up correctly as I think you need the bot software, probably $1000 ish, Metatrader 5 (not sure what this is yet), and a brokers account. I would then need to get them all talking to each other somehow.

I like the idea of having a bit of a punt with something like this in the background.
Any thoughts ?

Do it with paper trading account first. Test it thoroughly.

Just ask Claude ai how to do it and then follow instructions.

[Hoofy]

If you were able to create an AI bot that could make you trillions, would you sell it to the world for £50? If not £50, £500? £5,000? £50,000? Assuming, it's capable of doing its job, why not keep it and borrow £50k that you could turn into £5m in a month?

[JoshSm]

Hoofy said:

If you were able to create an AI bot that could make you trillions, would you sell it to the world for £50? If not £50, £500? £5,000? £50,000? Assuming, it's capable of doing its job, why not keep it and borrow £50k that you could turn into £5m in a month?

Same logic as with people selling trading courses - if you have a money printer you'd use it yourself, you don't rent it out to other people.

If someone is renting you the tool it's because that's the only good way it can actually turn a profit.


Also, anything involving FX market speculation always sets off alarms.

[Hoofy]

JoshSm said:

Hoofy said:

If you were able to create an AI bot that could make you trillions, would you sell it to the world for £50? If not £50, £500? £5,000? £50,000? Assuming, it's capable of doing its job, why not keep it and borrow £50k that you could turn into £5m in a month?

Same logic as with people selling trading courses - if you have a money printer you'd use it yourself, you don't rent it out to other people.

If someone is renting you the tool it's because that's the only good way it can actually turn a profit.

Exactly!

[DaveCWK]

Sounds like a scam, especially so if there's some significant purchase/buy in. I mean what exactly is it looking at/doing, over that done by every algorithmic trading institution, to come up with this supposed winning formula?