A method for selecting and monitoring of a Venturi type steam trap in a steam system, the method comprising the steps of: measuring a current temperature of the condensate at the inlet of a steam trap by a temperature sensor placed at the inlet of the steam trap, measuring a current temperature of the condensate at the outlet of the steam trap by a temperature sensor placed at the outlet of the steam trap, optionally, measuring a current temperature at the inlet of a technological process operated by the steam system by a temperature sensor placed at the inlet of said technological process, determining, by a data processing unit having a processor and memory, current working conditions of the steam trap and optimal characteristics of the steam trap in the steam system using deep neural network designed to determine optimal characteristics of the steam trap, by: processing parameters stored in the data processing unit memory, wherein the parameters comprise: a type of steam system, steam pressure, condensate pressure, nominal mass flow rate of the condensate, nominal temperature of the condensate at the inlet of the steam trap and nominal temperature of the condensate at the outlet of the steam trap, calculating optimal characteristics of the steam trap in the steam system, wherein optimal characteristics of the steam trap in the steam system include orifice diameter of the steam trap and orifice length of the steam trap, processing of the current temperature of the condensate at the inlet of the steam trap and the current temperature of the condensate at the outlet of the steam trap to obtain current working conditions of the steam trap, optionally, processing of the current temperature at the inlet of the technological process operated by the steam system to obtain further current working conditions of the steam trap, outputting data representing current working conditions of the steam trap and optimal characteristics of the steam trap in the steam system. measuring a current temperature of the condensate at the inlet of a steam trap by a temperature sensor placed at the inlet of the steam trap, measuring a current temperature of the condensate at the outlet of the steam trap by a temperature sensor placed at the outlet of the steam trap, optionally, measuring a current temperature at the inlet of a technological process operated by the steam system by a temperature sensor placed at the inlet of said technological process, determining, by a data processing unit having a processor and memory, current working conditions of the steam trap and optimal characteristics of the steam trap in the steam system using deep neural network designed to determine optimal characteristics of the steam trap, by: processing parameters stored in the data processing unit memory, wherein the parameters comprise: a type of steam system, steam pressure, condensate pressure, nominal mass flow rate of the condensate, nominal temperature of the condensate at the inlet of the steam trap and nominal temperature of the condensate at the outlet of the steam trap, calculating optimal characteristics of the steam trap in the steam system, wherein optimal characteristics of the steam trap in the steam system include orifice diameter of the steam trap and orifice length of the steam trap, processing of the current temperature of the condensate at the inlet of the steam trap and the current temperature of the condensate at the outlet of the steam trap to obtain current working conditions of the steam trap, optionally, processing of the current temperature at the inlet of the technological process operated by the steam system to obtain further current working conditions of the steam trap, outputting data representing current working conditions of the steam trap and optimal characteristics of the steam trap in the steam system. processing parameters stored in the data processing unit memory, wherein the parameters comprise: a type of steam system, steam pressure, condensate pressure, nominal mass flow rate of the condensate, nominal temperature of the condensate at the inlet of the steam trap and nominal temperature of the condensate at the outlet of the steam trap, calculating optimal characteristics of the steam trap in the steam system, wherein optimal characteristics of the steam trap in the steam system include orifice diameter of the steam trap and orifice length of the steam trap, processing of the current temperature of the condensate at the inlet of the steam trap and the current temperature of the condensate at the outlet of the steam trap to obtain current working conditions of the steam trap, optionally, processing of the current temperature at the inlet of the technological process operated by the steam system to obtain further current working conditions of the steam trap, outputting data representing current working conditions of the steam trap and optimal characteristics of the steam trap in the steam system.