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Using AI to Trade Stocks and Revolutionize Investment Strategies
AI is growing in popularity, and now investors are looking at using AI tools to assist their trading endeavors
Published May 16, 2024.
AI trading is an emerging concept in the stock market, where one uses artificial intelligence to help them make more informed decisions about trading strategies. This technology has brought forth a new wave of possibilities for investors, providing them with insights into the markets. AI is capable of analyzing much more data than humans can in the same amount of time, making it better at spotting potential trends.
Note: Fortrade offers the ability to trade the price changes of instruments with CFDs and NOT to buy/sell ownership of the instrument itself. Additionally, the resources and tools listed in this blog are purely educational and are not meant to be considered as advice.
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How to Use AI for Stock Trading
AI can be used to develop trading strategies by analyzing large amounts of data and identifying market patterns, such as potential upward trends. Additionally, AI algorithms could perform fundamental market analysis, such as examining financial statements and evaluating a particular company’s performance over time.
Moreover, sentiment analysis is another field where AI could potentially benefit. By analyzing social media posts related to specific companies, investors could gain valuable insight into people’s opinions of the company. Lastly, technical analysis is where AI can help traders identify potential entry and exit points on a chart.
AI should never replace your trading strategy. Instead, AI could be leveraged to gain better insights into the market that you might otherwise miss. AI should be one aspect of a greater overall plan.
» Discover more about trading with Fortrade
Examples of AI Tools for Stock Trading
To find the most suitable AI trading tool for your plan, it's essential to consider various factors such as:
- Pricing
- Features
- Customer support
- Security measures
- User interface
1. Trading Central
Trading Central, now on Android, iOS, web, and desktop, is a real-time research powerhouse. Backed by AI analytics and analysts, it offers comprehensive technical analysis, charts, and indicators covering:
- Fundamentals
- Technicals
- News
- Sentiment
- Economics
Integrate Trading Central with Fortrade for sharper, faster trading decisions. Accessible in the platform’s chart section, it's user-friendly and constantly updated with advanced tools.
Pricing
Here's the kicker: it's free!