Achieving financial stability is a dream of every individual in today’s fast-paced world. Everyone is looking for long-term financial gains. This is the era of digital efficiency. People are more interested in excelling in the digital world to succeed.
One of the most popular and highly profitable resources to get financial success is trading. In the past few years, trading has become like fire in the forest. Everyone is getting caught in its charm as it is the fastest way of gaining high financial profits.
However, the ratio of gaining success and facing significant loss is almost 50:50 in trading. This is because trading is a hectic job. It causes a lot of stress and demands high efficiency for executing trades. Conventional trading methods are no longer effective as they include human shortcomings while performing trading tasks.
Here is where AI makes its entry. It uses well-founded technologies to help people carry out their trades more effectively. AI trading software systems have been introduced in the financial market. These software systems are programmed according to the latest AI technologies.
What technologies Work in AI trading software Systems?
AI works on the principles of machine learning algorithms. A machine learning algorithm is a set of mathematical values that guides AI to perform a specific task. These tasks include examining thousands of data sets and obtaining useful insights from observing past patterns. It then makes predictions based on previously analyzed patterns.
All of these tasks are the core activities of trading. Effective trading can only be done if we get genuine market data.
AI trading software systems have been specifically made to work on AI technologies.
The authenticity of AI technologies used in these applications makes them worth to be used for trading.
Natural language processing is also used in these AI trading softwares. The role of NLP lies in converting tough financial information into comprehensible language that is easy to understand. This financial data includes chats and audio data that is to be converted into simple language. NLP uses deep learning techniques in order to analyze human language data.
Having talked about the main technologies working behind the AI training apps, now its time to learn about the important features of these AI trading softwares.
What Features Add Value to AI Trading Software for Stock Market Trading?
AI trading softwares have got numerous exciting features to perform different trading functions for you. Here is a brief description of vital features of AI trading software for stock market trading.
- AI trading software can perform your tradings on its own. It uses some pre-defined rules and the data that it collects through a careful market analysis. It doesn’t need you to facilitate it in executing trades.
- Trading software is highly potent for stock market trading as it can check thousands of data points. This is difficult with traditional trading as humans cannot go through such huge amounts of data in short time.
- These AI trading softwares generate customizable signal alerts on every potential trading opportunity. They make sure that no chance of making profit through trading gets wasted by you.
- These softwares are excellent at predicting future trends in the financial market. This is because they analyze previous and present fluctuations in market data. This analysis helps you to have a good idea of what is expected to happen in the market next. You can then strategise your plans for trading accordingly.
- These AI trading softwares provide you the facility of backtesting your trading plans of action. Using this feature you can check the potential of your trading plans. If they work right then you go with them, if they don’t; you’ve got to change them.
- One most important feature that AI trading software has got is its high speed. It can analyze real-time data in milliseconds. This is extremely helpful for you to avail even minor chances of profitable trading.
- AI trading software has combined brokers within the system to make direct trade execution possible. This saves your time and manual effort for placing orders.
- Regulated by trustworthy regulatory authorities, the trading software ensures high security of your trades. It saves your data and personal information through two-factor authentication.
What are Some of the Best Software Systems for AI Stock Market Trading?
Here is a review of some of the top trading software systems for stock market trading.
TrendSpider
This platform is especially known for its good charting and market analysis abilities. If you want to have a genuine market insight in less time then this platform is for you.
Pros:
- Automates trades for you
- Interface loaded with valuable charting
- Effective back-testing feature
Cons:
- High cost
- Difficult learning material for traders
AI Trader
AI Trader is one of the best platforms for trading with a growing popularity among traders. It is a beginner friendly platform that gives you an edge to trade with ease. If you are a beginner trader then this is your “go-to” platform to embark on your trading journey.
Pros:
- Easy-to-Use Interface
- Beginner friendly but is for all tiers of traders
- Very low investing capital to start trading
- Facilitates trading with multiple digital assets
Cons:
- May not detect sudden price shifts in the market
- Lacks human intelligence to make on-spot judgments
Trade Ideas
This AI trading software is best known for its three trading bots which collectively are named as “Holly”. These bots are equipped with 70 different strategies to analyze immense stocks in the market.
Pros:
- It offers a variety of trading strategies
- It has three AI trading bots with unique features
- It can automate trades directly
- It has a community to facilitate learning among traders
Cons:
- It demands investment to unlock the educational material
- High-cost as it bombards its users with hidden costs
Trading view
This platform is best known for providing a variety of technical analysis tools. It has combined traders worldwide as it has a social platform for traders. It also provides customizable indicators.
Pros:
- It has a big user community that connects traders from all around the globe.
- It offers free plans
- It has a user-oriented interface
Cons:
- It also has some paid plans
- Do not provide a thorough market analysis
Thinkorswim
This AI trading software has best tools for analyzing hundreds of candlestick patterns. It can sift through a lot of data in no time.
Pros:
- It has the best tools for carrying out trades
- It provides you the facility to trade with multiple assets
- It has advanced charting, analyzing and paper trading features
Cons:
- It has a complex interface
- It does not offer a varied payment selection
Conclusion
Selecting an AI trading software can be very confusing for you as there is a wide variety of Trading apps in the market. There are certain factors you should consider while selecting a software. First you need to figure out your trading preferences then you should go for a software that you think will suit you the best.
Always prefer an AI trading software that facilitates an easy stock market trading. It should not have a complex interface and high investment capital. It must have the newest trading tools and technologies. This will ensure that your tradings are being brought about according to the latest market trends.
Our AITrader software has got all the features that are necessary for executing successful trades. Think no more and just take the advantage of our software’s sophisticated ML algorithms to yield maximum trading profit with ease.
