May 21, 2019
Artificial intelligence vs human intuition: interpreting data
Using artificial intelligence can provide an advantage in many areas of life. You probably own a smartphone. This is an example of artificial intelligence most people have in their pockets. Siri understands your speech; Google can guess what you’re about to type from a single letter in a search bar; Artificial Intelligence (AI) detects our face in pictures we take on our phone. The advantage of having a smartphone over 2004 is obvious. Information is constantly at your fingertips, easy to find.
Relying on your own memory to analyze and trade after an economic release is like texting with a Nokia brick phone, vs an iPhone 6s with Siri. You’re slower, liable to more mistakes and severely behind your peers. Your competitors are head and shoulders above you.
What is artificial intelligence?
Artificial intelligence is a subfield of computer science. It has three main subgroups: Machine learning curated knowledge and reverse engineering of the brain. The focus of this article will be machine learning, the most useful of the 3 to daytraders.
Machine learning is a mechanism for developing algorithms that recognizes patterns in data. It is the computing methods for automating perception, learning, understanding, and reasoning. It is modeled on human intelligence.
Applying this technology today trading is the process of using the benefits of machine learning to enhance analysis and decision-making. Trading well starts at analyzing data efficiently and expertly in real time. Optimizing analysis, and subsequently, decision making about which markets to trade is a prime focus of all traders.
An algorithm for analysis can analyze years of historical data within seconds and find causes and results the human brain cannot.
A trader analyzing macro data by trusting their own memory is exposed to the emotional interference that inevitably comes with that. Human beings are not machines.
Picture this: you’re sitting at your terminal, an event is announced, such as non-farm payroll. You must act based on the results of this decision. Is the difference between actual and expected results large enough to justify the action?
A trader relying on memory, instead of machine learning is vulnerable to lose by making a decision based on the wrong information.
Sharpen the picture
Harnessing the power of machine learning through a terminal (and mobile) application such as BetterTrader sharpens the picture, by interpreting raw and historical data.
Use empirical data only
The results of the analysis at the back end by our computers are mathematically supported, to empower you to make a quick, informed decision using your expertise so you enter the market at the right time, in your own way.
BetterTrader was developed to counter the problems of a day trader’s experience of trading. BetterTrader reduces stress by cutting the time made to make a decision and mental energy used to interpret results while enhancing accuracy.
How does it work?
BetterTrader sends you real-time, actionable trading insights to your terminal or phone during the economic event releases that you choose to follow.
BetterTrader displays a bar after the release showing the magnitude of the result. The display also includes a small information box of historical data to aid in the decision made, such as “this release is the lowest in the last 1 year, 9 months”.
Completely actionable, clear data, delivered to you:
Our machine learning algorithm designed to analyze data thoroughly for over 1,500 events and compute applicable, actionable information is a reliable, trusted way to analyze and trade for professionals.
Created by a team of pro-active, experienced traders who saw problems in their own field they would like to fix, BetterTrader is the first application of its kind on the market, built by people who know what you need and actually care.
Not using artificial intelligence in your trading is being as technologically progressive as using a 2004 Nokia. You will be surpassed by your colleagues with the latest technology. Enjoy the advantage, and don’t get left behind.
Written by: BetterTrader