Day-Trading-Addict
In the video "AI Trading Will Replace ALL Traders In The Next 5 Years", the speaker debunks the idea that AI will completely replace traders, arguing that they both have separate goals and can coexist in the market. Instead, traders should focus on improving their skills and adapting to changes in the market. The speaker also emphasizes the importance of investing in oneself, backtesting, and having a specific trading strategy. Additionally, he clarifies the concept of losing money in day trading and the role of stop loss orders. Overall, the video encourages traders to focus on improving themselves rather than worrying about AI bots.
In this section, Ben tackles questions related to trading, including how to survive years of losing, adapt to changing markets, and win with a low win rate. But the question of the day is whether AI trading will replace traders and make their skills useless in 10 years. Ben explains that the market is constantly changing in different states, making it hard for an AI bot to trade all markets without constant tweaking and adjusting. Furthermore, AI bots have separate goals from day traders, so they can both coexist in the market. In short, traders should not be afraid of AI but instead focus on improving their skills and adapting to the changing market.
In this section, the speaker talks about the various opportunities and strategies in trading and how they do not necessarily compete with AI bots or algorithms. Day traders provide liquidity to the market, and the market needs liquidity to function efficiently. It would not make sense to get rid of day traders altogether. To become a better trader, one can backtest, analyze trades, study charts, and review educational material. The speaker also clarifies the concept of losing money in day trading and the role of stop loss orders in removing money from one's account. If someone is struggling with trading, they may need coaching to improve their skills.
In this section, the trader emphasizes the importance of investing in oneself and developing a specific trading strategy through backtesting. He advises traders not to cry about market manipulation and instead find ways to create strategies around it to make profits. When asked about trading in a bear market, he states that it is similar to trading in a bull market but in reverse. The trader also explains that his trading course goes much deeper than the content on his YouTube channel and encourages viewers to check it out. In response to a question about whether to close a trade if the price comes back to the entry area, the trader advises having a very specific strategy and holding until the market makes a move, but also emphasizes the need for backtesting. The video ends with the trader expressing gratitude to his subscribers and viewers and inviting them to ask more questions.
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