‘AI helps traders utilize more intuitive strategies,’ says Exchange

On July 11th, cryptocurrency exchange Bitget launched an AI-powered feature in its grid trading strategy, the use of trading algorithms to automate user trading. In an interview with Cointelegraph, a Bitget developer said:

“Compared to manually creating a strategy by entering ambiguous and complex strategy parameters, AI strategies allow users to more intuitively create strategies through simple numbers (strategic returns) and simple graphs (yield curves). , so you don’t have to type it because you can select and create it with a complex variable.”

With AI Grid Trading Bot, users just need to enter the desired strategy and enter the investment amount. A small language model can iterate over thousands of parameters and create dozens of different strategies within the same currency pair. Its complex surgical focus differs from large-scale language models such as ChatGPT, which can possess hundreds of billions of parameters and is intended for general use.

Similar to the martingale AI bot announced in June, each AI strategy has different parameter settings such as the number of positions added, the multiplier for the amount added to the positions, and the take profit percentage.

Nonetheless, the need for small language model AI trading bots to synchronize price data in real-time across multiple users presents challenges. To address this issue, Bitget developers wrote:

“In order to deal with the situation where a large number of users use the AI ​​grid strategy at the same time, we adopted distributed computing and load balancing technology to effectively improve the concurrent processing capacity of the system.”

More simply, Bitget says its AI Trading Bots “distribute transactions across multiple nodes for processing,” reducing single points of failure and ensuring high resilience. Here’s what the development team has to say about the limitation:

“The current AI strategy is mainly to provide users with a reference for strategy parameters, and the future market judgment-based strategy selection is still made by users.”

In the next phase, Bitget plans to develop an AI bot that can learn price predictions, which is currently undergoing intense research and development. Previously, the exchange pledged $10 million to the Fetch.AI blockchain ecosystem on April 27, amid the ChatGPT boom.

Magazine: 500% Profit on ChatGPT Stock Tips? Bard Lean Left, $100 Million AI Meme Coin