Artificial Intelligence (popularly known as AI) has been dominating the digital landscape, providing convenience and a more logical way of doing tasks.
In the online trading scene, AI trading bots emerged as one of the effective and time-friendly methods of analyzing the market and executing one’s trade. With an AI trading bot, you are free from emotional trading and any risks your emotional self may bring to your trade positions.
In this article, we’ll examine these 5 AI stock trading bots and why they are currently hot among traders and analysts. Read on and discover why each of the best AI stock trading bots is something you should consider in 2024.
Stock AI trading bots are engineered to analyze the market based on certain predetermined parameters and automatically execute long or short trade positions based on the analysis.
These AI trading bots can usually perform full-chart pattern recognition, scanning, and backtesting to ensure the data-driven trade is executed at the optimal market condition, level, or point. After all, trading bots are programmed to help you trade comprehensively, systematically, and progressively.
But hold your horses for a moment. While these bots are valuable for more convenient and easier trading, using solely this tool is a hundred percent detrimental to your investment and overall financial goals. Remember, this should only be part of your trading strategy; this is not your entire trading system.
AI trading bots are known to remain static amidst the dynamic stock market. These tools are often criticized as they’re not programmed to react to fundamental factors affecting the stock market movement. Thus, you must learn, understand, and even master the ever-changing global equity markets to substantiate and support your usage of AI trading bots.
One of the best ways to commit to this is to get exposed to various comprehensive education trading courses and resources. This will help you equip yourself with the best trading strategies, systems, methods, and insights.
My go-to site for this is TradersUnited. With a tagline of “For traders, by traders,” TRU is committed to providing relevant solutions, including free online trading educational resources.
Not only that, but TRU also knows the value of community insights in building an informed and safe trading world for all traders worldwide. By joining TradersUnited, you’ve become part of a unified space where you connect with online traders worldwide, get inspired by their stories, learn from their experiences, and ultimately succeed with one another.
Rating: 5/5
Best For: Experienced traders
What We Love: Reliable and comprehensive information, Intensive backtesting, Holly AI, Stock racing, Personalized risk/reward analysis, Trading room
What To Improve: Pricey, Limited to US and Canadian stock markets
Price: 3/5
Holly AI has been the seal breaker for Trade Ideas and its stock trader customers. It is popular among stock traders due to its ability to provide reliable, effective, and personalized trading strategies coupled with data-driven trading signals.
This service is made possible by its after-hours market trading and actions analysis. Trade Ideas expertly gave birth to Holy AI to only suggest strategies with a backtesting win rate of over 60% and a risk-reward ratio of 2:1.
Aside from Holly AI, you can also use Holly 2.0 and Holly Neo with your Trade Ideas account.
Holly 2.0 is a more aggressive version of Holly AI. I find it among the most aggressive stock trading bot software I have ever used. Moreover, it is said to provide a market-high 3% annual trading return.
On the other side is Holly Neo, the latest invention of Trade Ideas. It scans, recognizes, and trades day trading chart patterns and integrates several technical analysis strategies, including:
However, I noticed two limitations with the Trade Idea AI trading bot: its price and lack of coverage.
Firstly, a trader can only access Holly AI from a Premium Alpha Pro subscription, with a hefty price tag of $254. Upon comparing it to other AI stock trading bots, it will be inevitable for traders and analysts to expect more from their premium accounts. Especially since some brands offer AI trading bots for lower prices with relatively similar AI capabilities and tools.
Lastly, this AI trading bot lacks coverage because it can only monitor and analyze US and Canadian stock markets. As per writing, Holly AI can only cater to traders of US and Canadian companies. Moreover, it seems like Trade Ideas is not on the move to expand Holly AI’s capabilities to analyze other stock markets.
Rating: 4.5/5
Best For: Day and swing traders
What We Love: All-In-One platform, Accurate past performance analysis, Comprehensive trend prediction, Reliable swing trading signals, Actionable 45 streams of trading strategies
What To Improve: AI Bot has to be paid separately, Unintuitive interface.
Price: 4/5 ($90+/mo)
Aside from being a trading marketplace, Tickeron also offers values to traders through its AI trading bots. Tickeron’s AI has a 45-stream of automated trading strategies, the capacity to recognize market patterns, and the ability to generate personalized AI portfolios with predictive returns.
Tickeron has two AIs provided on its platform, the first-generation Signal Only AI and the Virtual Accounts.
The first-generation Tickeron trading bots (Signal-only) provide real-time trading signals or alerts to ensure you’re updated with market development, atop market opportunities, and effectively managing market risks.
On the other hand, second-generation trading bots (virtual accounts) provide more personalized trading and account management. Here, you enjoy automating your trades with risk management support from your trading bot. These bots are programmed to protect your trades when the market is expected to move against your position based on historical data.
However, the main area I think will turn off users is its overwhelming interface. While robust and intensive, there’s no doubt that Trade Idea’s interface is unintuitive. This presents a potential extended learning curve for new users and confuses new users.
Tickeron’s AI utilizes pattern recognition to generate trading ideas and strategies for a specific global equity market, mostly from Fortune 500 companies.
Ultimately, it runs over the market pattern database to determine which asset moves which pattern. It then rules out trading strategies for a certain stock market, which all have a significant track record of backtesting success.
Moreover, Tickeron expertly programmed its trading bot to provide a fully audited track record of every trading bot under its management. This adds depth to the company’s value for transparency, accountability, and innovation.
Thus you have a reference if the trading bot fits your overall financial goal by analyzing its performance summary, including:
Rating: 3.8/5
Best For: Versatility (can be used by stock, forex, futures, and crypto traders)
What We Love: Trend line detection (Fibonacci retracement, Japanese candlestick, and price alerts), Multi-time frame analysis, Point-and-Click backtesting, Real-time exchange data, Personal One-on-One training with trading specialist
What To Improve: Hard-to-navigate interface, expensive pricing
Price: 2/5 ($107/mo Standard, $197/mo Enhanced, $447/mo Advanced)
TrendSpider is usually a preferred charting and trading platform not just by stock traders but also by general financial market traders and analysts. This trading platform has a wide array of stock analysis tools that are helpful in finding, planning, and timing online trades with increased efficiency and precision.
The number of trading bots varies depending on the user’s subscription plan.
With its intelligent and capable AI trading bots and robust and systematic backtesting, integrating this into your strategy will surely boost your profitability. When you use this trading bot, it will flag up the highest probability trendlines, and you can adjust the AI’s sensitivity to limit the amount of market noise on your trading chart.
However, my main challenge when using this platform was its unintuitive interface. Like the Tickeron platform, I think this limitation will contribute to the learning curve of beginner traders and even confuse new users. While it is certainly valuable, there’s no denying its depth, complex, and overwhelming interface.
Rating: 3.3/5
Best For: TrendSpider customers
What I Love: Its smooth integration with TrendSpider
What To Improve:
Price:
Although SignalStack is relatively new, it has garnered significant traction among stock traders with its faster, more convenient trading execution through signals. Ultimately, it’s programmed to automate trading based on the provided signal.
So, if you’re after an automated signal executor, you would surely love SignalStack. This AI trading bot reliably provides signals to any trading platform that reads Webhook signals. Then that trading platform will instruct your broker about your order to execute a long or short trade position according to the provided signal.
However, what I like about SignalStack might not be relevant to other traders or analysts because it’s mainly personal.
Essentially, I find its seamless integration with TrendSpider convenient and even profitable. While investigating its functionality and effectiveness, it’s commendable that I have never run into an issue while using it together with the TrendSpider platform. Thus, if you’re already using TrendSpider as your charting platform, then this AI trading bot is surely worth trying!
Rating: 3/5
Best For: Traders who want to integrate trading screeners and brokers.
What We Love:
What To Improve: Hard-to-navigate interface, expensive and dynamic (sometimes confusing) price tag
Price: 2/5
The core concept of trading involves timing your trades correctly to exploit the price difference between your trader’s opening and closing price. While this is the start and end of your trade, I am telling you that this is the step you need to be extremely meticulous about.
That is why Vectorvest is among the well-regarded and most popular AI trading bots for beginner traders–because with this trading bot, they skipped the crucial steps that make or break one’s trade.
Aside from its trading bot, Vectorvest also provide trading signals, options analysis, and even AI trading strategies
Vectorvest provides automated AI bot trading, signals, options analysis, and AI trading strategies. Its stock recommendation system is said to outperform the S&P 500 by an impressive tenfold over the past 22 years. Despite its hefty price tag, this claim surely attracts many traders and analysts to use this trading bot.
It provides bullish and bearish signals to its customers and is said to simplify stock asset picking through its proprietary system. This stock-picking system primarily considers the value, strength, and timing of the market.
All companies that sell trading bots are expected to provide audits and past performance data of the software, which should always include the average annual returns the trading robot yields.
Remember, a regulatory body must regulate all financial service providers because of the inherent risk of conflict of interest between the service provider and their clients. Make sure that the robot you’re using is registered to be in the market by any trusted regulatory body.
Among the popular and reliable regulatory agencies worldwide are:
While trading robots are expected to carry expensive prices because of how meticulous the creation process is, the AI trading bots prices should still be reasonable.
AI trading platform
AI trading robots can be legit, but it’s one of the services often used by unethical service companies. Always check their registration and regulatory licenses to ensure you’re using a service from a credible provider.
Programming artificial intelligence requires manpower, resources, time, and investment. This is why some credible and reputable service providers put hefty price tags on their products.
No, AI can’t possibly replace human traders. The primary criticism of AI trading bots is their inability to adapt to the dynamic nature of financial markets. It simply can’t act in accordance with the market fundamentals because they are programmed only with historical market data, including market patterns, historical trends, and previous prices.
It poses great investment risk as it cannot swing with the market when fundamental factors interfere with the latter.
When choosing the best AI trading bot for stock, many considerations must be made. You have to factor in advanced features, risk management capabilities, profitability, price, and more!
While these five AI stock trading bots are among the most widely used in 2024, they may not be for you. When making these decisions, always assess yourself to know whether the trading bot suits your trading objectives and overall financial goals.
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