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I keep seeing videos on Youtube related to how good this A.I project called ChatGPT is very good trading and we all know how unreliable those YouTubers are, so I bring this on here instead, have you use this A.I project for trading yet? Any one?

UPDATE

Sorry guys its actually OpenAI not ChatGPT

https://i.imgur.com/oo4w1l0.jpeg

Not sure what you've head/read, but ChatGPT is just a chatbot(a good one, to say the least) — how will a chatbot exactly be good or bad as for helping a person with his/her trading? It's not like a chatbot can predict the future.

It can help.

What I like about the bot is that it answers good questions about what trading is. With the bot, you can learn about trading fast. It will help you with what trading is, what indicators are, the strategies you can use and how to manage your risk. All will be as an article. Which means it helps you to know what is trading how how to trade as a beginner. But you will have to trade by yourself.

It is not a bot that trade for you, it is not a signal group that will scam you. If you are ready to know how to trade, you can begin with the ChatGPT.

I will like if the ChatGPT can indicate many ways newbie traders can be scammed too, but I do not know if it is among.

It is used for other things too.

Artificial intelligence is still in its beginning days even we did hear about it some 10 or 15 years back itself. So far those claimed as AI were just machine learning which means database driven as neural network is still in development stage for enabling chips to decide by themselves.

AI based trading can be the next stage of bot trading but the efficacy cannot have any big differences as per my understanding.

If I am able to code a bot based on AI then I will not open/sell it for public use until I become a multi-billionaire. So, if anything similar to use is available means they are using us as test rat to evaluate its efficiency; nothing else.

AI can not be better than a real tutor with experience and can give you lessons and real-time practice.

AI use algorithms to find available advice, courses and filter them to give you most common advices but it can not be a real tutor for you. Trading is personal task and if you can not be disciplined, can not control emotion and your decisions, you fail. A real tutor can not control you and AI can not control your decisions too.

AI is good if you don't want to pay money for paid courses but free usually can not compare to paid.

Could you please elaborate more on this? I mean that I need to ask the chatbot like BTC price will rise or fall in next 10 minutes and based on the answer, I need to place the order? Looks funny but definitely it is not trading but a kind of fore-teller driven gambling.

Looking for someone to share their real experience with chatGPT on trading BTC.

But, people always keep trying to escape from those responsibilities by trying to automate all their trading activities; now, in the name of bots and in near future, it can be AI. I am sure that those traders who never understand it as "personal task" will never stop their attempts to automate.

It is not easy to see a willing and experienced real tutor and if you see one you can be charged darely for it. That is why people resolved to using cheap and ever available technological means to help themselves in such situations.

Op answering your question on realising it is an OpenAI and not ChatGPT. AIs give result if the market does not deviate from what is programmed into it.

If you are taught how to trade, you can still lose if you do not have discipline and follow the correct strategy, that is trading. If a newbie trader can follow the bot, it can help is what I know.

There are paid services that can be almost the same as free. Some paid are just scam too.

I think OP is trying to chat with it and let it predict depending on what the AI says. So it's going to be like gambling as well. It's going to be hard to rely on it, but you should make your management risk appropriate for you. Risk what you can afford.

The ChatGPT is great but when it comes investing it is bad to depend on it information or even act on it. The AI gathers various information on line and then share that information. Some of these information might be totally wrong just like information you might get from the forum so basically The AI can be use for general knowledge but for investment advice I think it’s bad to rely on it. Some of its info are wrong

I have heard about trading bots, but this is my first time hearing about an AI for trading. Trading bots can help you trade for a certain point, and after that you are on your own. I think the same goes for AI trading. Never used it, so I don't have enough knowledge about it. Don't know what so say here, but I have to have some experience on trading bots. Here what I will say, don't rely on these Bots and AIs. It can prevent you from learning proper way of trading and trading should be fun. You lose the fun using it.
It could help in lots of situations, I agree on that, but don't rely totally on that. DYOR and then trade.

I am not entirely sure how it will be because what we call as "AI" today is simply machine learning, a highly developed one but not AI at all, that means something else. So, if you could put all the trades and reasons why they were done from a very good trader, that bot will learn how to trade and why to trade something, and maybe it could be good if things go the same way.

But, it is not simple because market is not an information, asking questions and getting facts is easier, but asking it to trade is something totally different. It can easily trade, that part is easy, no problems, but could it profit? That part is not entirely sure at all and doubtful.

Maybe we can see it as some source of information and we shouldn't act on it too much unless we agree with what is presented in it. We need to be aware of the risk as well making sure that you have all the info regarding the topic. I suggest using it for information gathering or something.

It is amazing how far artificial intelligence has come and that there is now discussion about whether or not it can execute a profitable trade. or, even better, whether it can take the role of actual dealers.

Now, in response to the OP's question, I do think there are more advanced trading AI systems that can produce near to accurate predictions other than OpenAI. Despite their intelligence, these machines are incapable of making good trades. Additionally, despite the potential of these machines, I would invest my time and effort in learning how to trade rather than rely on it.

If you ask this kind of question, it is a kind of bot that will give an accurate or almost accurate answer like telling you that the price of bitcoin can either increase or decrease and how volatile the price can be. The bot is for learning if you want to know how to trade, that is what people are not getting, it is you that will trade yourself if you have learnt about trading. But the bot can ease the learning process for you by getting most accurate or accurate information from the web for you.

If I understand them correctly, how good/bad they depend on what data the developer feeds them. Not sure how reliable they are but it is definitely easy to get trading history data if they just scrap them from exchanges. CMIIW.

In a perfect world where technology always works, then it is definitely a great tool to use. Since the real market does not always follow that, then nobody should treat them as the gospel to make a profitable trade. I personally view them as an advanced tool from your usual bot trading tools.

I won't be surprised if these bots just paraphrase the top 10 results from Google or something similar. OP or anyone should learn further by doing demos or real trading with limited funds. Knowledge about technical terms won't be enough to make them a good trader, regardless if they use AI/bot or not.

According to the review I checked about the bot, it is limited to 2021 online information, but maybe updates have been released that can make it up to the recent time.


There are stages in trading, but most likely if the newbie trader read all the information given, there would have been all these there and how risky trading is.

I prefer to use just like $5 to $10 to start to trade than using demo.

Some people may just prefer to get a tutor, but they must be careful of scammers.

OP, isn't the user to be the one who programs a script for OpenAI or a bot to function? If that's true, then your bot would only be as good as your trading strategy. But what's probably good about it is it will remove human emotion from trading, and it will absolutely follow all the rules of your trading strategy, making it have less mistakes, and therefore probably also make it more profitable in trading IF you programmed the bot with a good trading strategy.

I think it's too early for this kind of AI to help us in trading, there are a lot of factors that this bot might not have any information. Not just in trading though,  ChatGPT has been touted to even predict who is going to win in world cup and other sports, here is the thread, https://bitcointalk.org/index.php?topic=5427381.0

So for me, it's better to get a Bot specifics for trading, not saying that it will be a guarantee to make profits, but at least it was design for the one used only. But we all know that the data is still based on us, so what we feed the bot, will likely what he will give us in trading, I'm talking about the parameters.

This sounds like an improved version of google. Google will get us the links to the web pages where relevant information will be available whereas this bot gets us exact information in the chat box from those same web pages. This might get the beginners the experience of chatting with a mentor to clear their doubts. At the end of the day, the final decision is in our hands like where to enter and where to exit which finalize the profit or loss.

But, unfortunately trading is not about automation but accurate prediction which will never be possible as future is not foresee-able one. I mean that you can try whatever technology available with time period but 100% accurate prediction will never be possible but cutting your losses will be possible with the help of AI and being disciplined like when to trade and when to avoid kind of suggestions will be possible along with new technological improvements.

The problem with all bots is, no one could code all the strategy or a strategy for all market conditions. So, bots also will book losses. It means bots cannot be the final destination.

I've had a lot of offers to have such a robot for trading, but because of the high price I think I'm using tools like tradingview and others. Indeed I think as far as they master the Bot would be useful, and profitable. But maybe the author should also know, AI bots can't always run automatically, there are parameters used and you have to be good at making those parameters with manual or technical analysis.

In addition, I also believe that this AI Bot can given a virus to control the account, because I heard that this BOT must be directly connected to our account in trading. So during my nearly eight-year trade I only believed in myself.

Can you tell me what is actually the AI trading bot do with your trades?

If I am not wrong AI stands for making decisions on its own so if there is a trading bot with such capabilities and zero error percentage then you will become billionaire in few days just with a single digit capital so its not reliable or just using the name AI because it looks catchy.

I can only copy opinion of one member who recently, when asked about those who sell various crypto courses on trading, wrote that only those who sell it actually make money - and I think it is similar with those so-called AI bots. If someone has a trading bot that is special and makes a profit, he will certainly not sell it if he can make a profit with it.

I advise less YT and all the possible magic that is presented there, which will result in a smaller number of fairly meaningless questions on the forum.

Nah. I do not think so. Some things in trading requires more than calculations. It requires gut, instinct and conviction.
Do intelligent machines have these? I guess not. Infact, I feel that the number of people who incorporate AI in their trading are very few. I also feel that most veteran traders will not be comfortable with artificial intelligence doing the trading for them.

I do agree that it would be pretty amazing for machine learning to find the good trades and collect them (and also bad ones to see how it works both sides) and then make it a great trading machine. But lets be real, in order for that to work, what happened in the past should have the same consequences in the future.

Like we have regular trading bots right now, things you could buy for a grand at most, probably cheaper, where you could do indicator trading and what indicators that were hit in the past before an increase, could be used again but maybe won't increase next time. That's the issue with AI trading, it can learn from the past, but future may not have same results.

The best AI we can have is our own brain mate. AI's, bots, and anything that is digital methodology is based on the mathematics data that is being feed to it but not the factual analysis. By default human brain can process both the sides actually. They can either go for the technical analysis and they can also do the factual analysis at the same time. This means the trading confidence that is built by human brain is far greater than the AI. They can make you profit for sure but they can also make you loose with little error in the code isnt it? We don't say but we also need a little emotional part of us to make some logical decisions. When to stop trading, what's balance left out, what is the current situation of your expenses and much more. It can only be thought by human brain but not an AI. Choose wisely.

The developer of this project OP put a huge amount to publish and get a better picture of what they have planned. Of course, if we ask any of the team members about this project they certainly be talking positively and promises which could tempt you to try and use it. That is what we could marketing strategy to attract the interest of the community. But what we are looking for is the aftermath and many questions if this really reliable or just speculation.
But for me, it might be good for those who are still learning but it was not better in the long run as the market trend keep on changing.

There's no strategy for all market conditions, but there's always a strategy for each market condition. The programmer's job is simply to identify the market condition, then use the right script.

Plus you're wrong in believing that no trader has successfuly ultilized bots for profit because there are many of them in the top 10% of the most profitable traders. Plebs like us can't compete against them, with their large capital, and their army of bots.

I have never used AI to trade. But I wonder if AI is like the applications offered by some developers here. Because in my opinion, if it is artificial intelligence, it means that AI can do analysis without human intervention, and we only give orders to trade based on market direction AI immediately runs by itself and if the market direction changes, AI will adjust accordingly. If so, it will be different from the app the developer made because it might be a new technology for commerce. But I still prefer manual trading because by using that method, I can learn more about analyzing the market's direction.

It can help especially if you need ideas and help in technical analysis but you shouldn't always rely on it because for sure, its prediction isn't reliable all the time and they just base their responses on their programmed scripts. You can try using it in the beginning but you have to grow by doing your research and practicing trading fundamentals on your own. You must know how to do it yourself because you can't succeed as a trader by just relying on AIs all the time.

Yeah, that is the only thing that it can do. It can help you gather existing data but we shouldn't rely other important things to it because it won't simply work. If we are a beginner then I think learning on our own way would be better because if we rely immediately in the AI's then how can we know or verify if the data's that they are throwing to us are accurate? AI's are only a pro traders toy.

It helps them make their trades faster than ever. Just wanna say that this topic here about AI reminds me of Chatgpt. I am sure many of you guys already heard of it? It is said that it can do almost any things, so I won't be surprised anymore if many people use it for trading but I doubt it will work.

Probably most of the trading strategy are with those AI but I think its too risky to depend on this. Imaging, if there’s a good AI for trading then everyone will make profit, and that is not healthy anymore. In trading someone will always lose and win, we can’t everyone win because this is how the market works. The result will always depend on our own analysis and if you didn’t make any good analysis, don’t expect to make profit at all.

Am sure you know YouTube publicity are paid adverts most times as, theee are hardly users that would just want to put products out if mot for what they are gaining from it or maybe, just some means to keep the channel busy with content and building the channel as well.

Am not any familiar with the AI in question, never used it either but I would say,
If any AI is as good as it is projected to be, traders won't spend much time trying to analyse the market. Instead you'll find traders pulling resources to get some bot to make things easier for them.

Unfortunately, it's always going to be Garbage in and Garbage out with an AI, together with some malfunctions and market jumps due to manipulations from the platform in use which could result in some real lose.
AI isn't any good compared to what your knowledge could come up with.

Without having analytical knowledge, you will not be able to control or set up AI bots perfectly. But the use of this kind of bot will provide excessive automation. When the bot is equipped with an AI bot, it will try to find loopholes or what commands are suitable for use. As long as there are parameters that are set, the Bot will run properly. But don't trust too much and keep doing manual control.

And for bots that are infiltrated by viruses, it may be common to find them. Usually bots containing malware or viruses are distributed free of charge and promoted by several people who are then used by novice investors, and in the end they will lose their assets silently. Be careful and don't use bots without doing some complete research.

I just don't feel like I trust it at all. Not because it sucks or anything, but because I just don't trust anyone or anything else to do my trading for me. Back in the day I did, there was a bot that I used, even sold, but I just didn't get the results I wanted with it, and saw plenty of people who made insane amounts of money with it and saw a lot of people who lost all their money with it as well. As we can assume, I am one of those who would lose it all instead of earn, I am not good at it at all. Hence, I would probably not be good at this neither and be terrible, so there is really no need for it.

Is AI trading will be the one to trade for you using the default strategy?
If yes, I don't think I can trust them because this is trading and I'm using my money here so I should be the one to trade for it using my own strategy. In trading we should be more knowledgeable about it, this might not be a good option to others and AI trading can't still be trusted as of the moment.

If they do saw that it is quite relevant or would be something that helpful then people do have always the choice on doing what they do have in mind.Sooner or later they would really be able to find out if its
really that quite relevant or something useless at all.Its true that nothing beats out if you are the ones who do make out such trading decisions on your own and wont really be relying on something
which had been proven out.If ever this was effective then all of traders would really be that rich or could make huge money but we know that this isnt how reality seems like.
This do proves out that it wasnt that something do works.

That won't happen either because if you can think about it, if it's too good at trading then the owner shouldn't be selling that to anyone because they will become millionaire/billionaire in no time. But unfortunately, it's not like that as we thought since it was just a chatting AI maybe I guess would talk/tell you what to do in the market but doesn't work as what you have expected.

I would rather stay away of those bots/AI that would trade for me because it's not as good as what you think. Let yourself decide if you made mistakes so that you will learn your all lesson.

I have heard a lot of things about Open Ai and how also people commended ChatGpt's capacity even since Elon Musk tweeted about it. I have used any of the two but according to my understanding and research about all these Ai platforms they work just like Google search engine I mean they are web crawlers that search thousand of billions of information available online to provide an answer to a specific question you ask the Ai machine.

if they are making good money to those who used it, this won't be public for long as someone will already buy the rights of using it exclusively. but guess it is not. it is just to assist your trading activities but not entirely relying on it. much better if you will do your own trade and learn the basics. as you go along with your journey, you will pick up some of the tricks and that you can use when you are trading.

There may be other dedicated AI brands that allow for price predictions out there.
Afaik, OpenAI prevents itself from talking about the future, I think making trading predictions is also included. So specifically, OpenAI won't be able to fool anyone about the future (at least for now). However, OpenAI can also be misleading about the information presented.

AI as of now is nothing but bots which work on some preset parameters taught to them. I am pretty sure that the publicly placed softwares have not reached the mark where people are selling a software whose code can automatically learn things from the past behaviours to earn profits in the future. Also even if this happens initially it will be very coin specific and market specific as each coin's market are pretty different also what set of variable do you give the bot to study, is it only the historic price? Or indicators? Or quantitative data?

this idea of using a bot to day trade is something that I have seen since a year ago and it has always failed or at least I have never seen someone say or show that they made very high profits using these bots, nowadays there are many bots and all of them have not had consistent results and it has also caused losses for people using these bots, I myself in the past have taken the time to do research on these bots, and you see I have done research on trusted bots that were on this forum (don't know if they are still on this forum or if at least some bot is still on this forum ) but the fact is that despite the fact that the bots that are on this forum are reliable bots, ( I'm not talking about scam bots that are in the gambling section, because in that section there are no bots, there are only hyip/ponzi sites) I realized that the profits were very low for the people who bought the bots, the only ones who really profited from the bot were the bot owners


source: https://www.quora.com/Do-day-trading-bots-work-Their-concept-is-simple-whats-their-issue

the bots are programmed with historical data from the past that were successful, this is one of the problems of these bots, even being AI I still haven't seen great results from these bots, I could be wrong about that but from what I could see since years I still haven't seen effective bots and I would not use these bots, I prefer to trade using my own knowledge than being dependent on bots or other people

AI in terms of Trading bots, Yes the bots are good for trading but are careful to use reputed protocols or trading bots. Recently i replied te a similar topic on trading bots, so here too I would like to repeat the strategy used for the Trading bots must use these bots in sideways trading and do not prefer them in volatile markets.

Yep, it would be basing up on those historical events and information which they would really be added up into the library but not something that you could fully rely on using it on future use or recent ones.

We know that there are lots of things that could happen along the way unexpectedly and there's no way that you could really be able to determine out via these AI's.
They would need still to be feed up and would be added up with those past informations which i dont see for it to be worth if we do speak about
using on something like trading.I would rather prefer to trade on my own analysis and decisions.

In short, it is still not guaranteed 100%. Using this AI will just help us to decide, we still need to analyze and decide on our own. These AI for sure just suggest.
There are already trading bots that you need to configure based on analysis but I believe it's not enough.
It's very difficult to use AI when there is something financially related like trading, you may lose your money of some mistakes.

AI technology is relatively new to me, and so far I haven't found a project that can be used for trading, so I don't understand whether AI technology will help traders in every trading activity to be more effective or can also make the win rate higher. Will give it a try when I find an AI project that can be used in trading

I don't think somthing known for everyone is a good thing to make profit from trading, we already know that exchanges and big whales don't trade personally, they have their own bots and programs that opposite your trading, so as long as these entities capable of reaching the same information as the normal trader, they will trade against them. However, for longer term expectations, it may work better.

If such a project exists of course it makes it even more interesting but on the other hand we don't know whether the AI technology will actually work effectively in trading,
As time goes by, the development of technology is also increasing rapidly,
The most important thing is just keep following the progress.

Yes, we'd expect better results from using advanced technology like AI to make trading easier but I see the real advantage to the trader if they actually do it, not by relying on robots. Of course, we can say that these things don't have emotion so they can perform well in critical situations but if we wanted to gain more experience and learn, this is not the best option to take either.

For now, it was still a quest in which AI or bots are performing well. It can be interesting in other ways but for now, doubts are still there.

Any AI system can present a higher degree of effectiveness, that is something I cannot deny, but since there is currently a lot of AI being developed it is likely that they will be tested by many traders, I would honestly use it as high frequency trading because it is better study those movements, of course there are many bots that do a lot of trading, but they are actually pure algorithms that make and obey some of the patterns that are programmed, but the AI can identify and analyze all the movements they can make and which is the best option for you to have and solve, I haven't tried it but I would like to.

There’s no guarantee that this ChatGPT will help us make successful trades in the process, as they are obviously good in some reasons but not reliable enough when it comes to correct predictions. And besides, trading in the market do not come with fixed results as there are always uncertainties like factors that suddenly arise when you’re in the middle of trading. Just imagine even a human mind cannot actually create or predict a good outcome, so how much more on a chatbot wherein it has no real senses but only processed information being inserted.

I haven't used it before but in general I think it's like bots and I don't like bots, maybe there are some good ones but for me I tried many of them and I didn't get the results I wanted.

But in any case, you need trading skills in order to know how to program the AI system well to give you the best results and get good profits. If you do not know the basics of trading, you cannot benefit from it.

Simply AI system or bot does not do everything for you, it just does what you command it to do.

For chat related things and asking questions this AI software is good but won't rely on such things when it comes to trading because my funds are at stake.It can answer your trading related queries for what information it retrieved from the backend or how it answer but these bots are still not useful in actual trading so it must be done with your own mind.

I'd see it was perfectly made for answering queries but if we talk about trading or those that are performing more on technical and market analysis, nothing could do it other than humans. Because these AIs are not programmed to become emotional, not programmed to analyze the market on their own but are created based on the history of the market and interact with what traders wanted to happen. Meaning, this stuff relies on the trader who uses it, and if we have no knowledge of trading definitely, it never works well.

ChatGPT is a powerful Al tool for content creation and easy learning tool in any field by responding to prompt inputted by users. This Ai tool is powerful for answering questions on how to trade but when it comes to making trade predictions this tool will never get accurate. Its prediction will be based on past data and what happens when the data get outdated. The only aspect ChatGPT will help in trading is by giving better learning ideas as compared to other search engines

Exactly, the point here is AI still needs human knowledge. Those who are using it and manifesting from bot are people who already gained enough knowledge to configure the settings that they wanted to execute.

The good thing with bot, unlike human the emotions when fears dominate you'll be forced to react
in unnecessary actions, placing your investment in a big risk, while with bot it will let you pass
the market situation without doing anything.

Looks like a clickbait really. None of that feels very true to be implemented. Even normal trading bots are not doing any good to the traders plus there is always issues with setting up the proper codes and logic flow to them. As mk4 said how can I chatbot would be beneficial for the trading? Those YouTube videos are not worth watching if they are claiming it that way. It is just "trendy keyword" and nothing much. You are getting into it because you are getting pulled based on your search history. These kind of YouTube channels are just made with the intentions of making money by views and nothing more.
Better keep up with the normal bots which are also not 100% reliable or just learn the trading skill set!

Isn't it obvious? That is why its name is CHATgpt but its crazy how people think it can solve anything even crypto trading lmao. I don't think it will work just like that because the thing wasn't built for that in the first place and why would they release it if let say it'spossible when they can just use it for their own benefit? Or they can also sell it for an expensive price. TA's doesn't have to do with our emotions but in trading, it is said that emotions can affect your trades.

It can go really bad if you are too emotional. AI's doesn't have an emotion but isn't it great to be use in trading? However it's not ChatGPT rather they can be trading bots and something similar which are specifically built for it.

^ I don't think an AI alone will work for us in trading without our command as a human, traders should know this even automated bots need to have a proper setup to command. That is definitely right, it is not 100% guaranteed that you will make a profit, if so, I don't think even how expensive this AI will probably become more in demand in the market for all traders which is if you will bought it, expecting the result. It is still considering the crypto market price is unpredictable and no one can give accurate prediction all are based on the previous data of the market price which they believe repeat itself which I think that is impossible.

The AI we are talking about is not used to automate trading or to give signal, it is just as a tool that can be helpful in the trading learning process to give some information that can help someone to trade. There are different types of bots, but ChatGPT is a kind of bot that only helps in learning process by giving some helpful information. It can even be used beyond trading as it gives information which can be helpful.

I have not yet seen an AI that can predict, however it amuses me, because recently they wrote to me by telegram that if I wanted to invest to earn in the rises and falls of bitcoin, and that this was done by a machine, and that it was based in AI to make the movements, that really caught my attention, I can't deny it, but I know that I don't know to what extent these things have a high fidelity to do things well and not lose money, he told me that that's where you start with 50USD, but the truth is that I think that seto is a scam, and that the rest is a lie, I don't know what AI they are using and if what they do is really an AI.

Bots and AI have been trading the markets for a long time, it is just that only the best firms have access to them and it is not difficult to understand why that is the case.

If you had an automated way to make money would you share that with anyone else? And we know the answer to that question, no one will share an AI like that and with good reason, and if anyone is interested on this field they have no other option but to make their own research on the topic as no one will share their results for free.

Nothing like AI is good for trading, but you can use some to learn trading which is better by giving you the information needed to learn trading, but it is you that will trade yourself, the AI bot may even have told you how risky trading is and how you can lose. The bots that people said will trade for you will no help you later after it will result to losses. As for the people you saw on telegram, always avoid telegram, they are there just to scam you.

it seems that the development of AI is unstoppable, many people say this is a miracle for humans but many also say AI is a threat to humanity in the future, I myself don't trade very often but if I am forced to trade using AI as a guide, I won't use it, AI does have good analysis and probability but AI doesn't have human feelings.

Magic or a threat depending on how to use it. If Ai is used for negative things then there will be a threat that will occur or like a robot that is implanted by AI and develops so that it opposes the robot maker.
AI is implemented in a trade and create a trading bot that will really help to make trading easier. There will be many options to choose from. AI is also a program and will run into a bit of trouble when there is no data to read, AI intelligence depends on how much data it manages.

On the contrary, inside trading AI's capabilities not to feel any pressure can help to continue waiting for the price to reached your target, unlike with human feelings, fear is always the reason why you will lose your investment.

It will depend to how you see the potential and how will you maximize the full usages of AI, they are always going to depend
from how you set it up, still need human knowledge.

I don't know that there's an openAI that's dedicated to trading. I've known bots that will just help you to do your trades automatically by setting it first but it won't be the one that's going to do the whole thing of trading like giving decisions automatically if the market suddenly fell.
I believe that these AIs are just like guides but they can't predict the market and they can give some good thoughts of analysis but they're all based on facts and they can't really say what they think about trading on a highly volatile crypto market.

The thing I hate about YouTube, is that most of the content there is usually click bait oriented! And if these guys are saying straight out of the box the AI bot will take good trades, I won't even bother to see if it's possible because I know it's all lies and these creators are trying to generate  $$$ through views(revenue ads). But if someone from here says they were able to make profits not once but several times, I will be more than interested to see ChatGPT in action.

AI based or those casual bots, its all the same and its never been that relevant on making yourself that depended on it considering we know on how these things works and how these things do behave.
If you do see that these things are really that relevant into your trade and seeing that it is really bringing up some profits somehow which you do add up with some analysis of yours then stick to it.
We've seen that people been talking about applying it on gambling and now in trading which this current AI trend cant really be stopped but there are certain areas which cant really be touched
nor be affected by AI.

Those that have been using those trading bots like the ones that's popular in the forum, if that's effective then keep on doing it. There's also the slight chance that those bot makers, the new ones will integrate or label their bots as "ai" bots since it's the trend currently.
Of course, they're all for the sales of their bot and will eventually go through with those traders that are not yet familiar that there have been existing trading bots that didn't associated with ai on their names.

  For me, doing your trading naturally or organically is different than entrusting it to a trading bot. Because it is still better for us to feel and witness whether we should sell or buy coins here in cryptocurrency.

 Unless the trading bot is profitable and a lot of traders get rich, but nothing like that happens, just think of yourself as an individual trader entrusting your income to the bot, would you agree if it bothers you?

To the best of my knowledge, I believe that the use of AI in trading will be beneficial for individuals who have not yet had a mentor who can instruct them in trading. It will at least assist them by outlining potential actions they could take or refrain from taking, to have a good trade. it will then be up to them to decide which actions, if any, to take before they begin trading.

Using AI as a trading aid is not a bad notion, just like it is in the world of cryptocurrencies. AI will assist you with market analysis and advise you on the appropriate safety measures to adopt. You will then be given the option to decide how to execute the trade.

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Using AI or not in trading is at your discretion. Trading is what needs proper analysis. Although analyzing the market is not easily done, you will fail in some aspects and get some. Let's just have it in mind that trading is highly difficult but employing the help of AI is a good way to start but not 100% guaranteed as a beginner in trading

Why do beginners always take the instant trading method? they feel left behind and don't want to go through a long process. Relying on AI, bots and such doesn't mean precision. Because basically AI only collects data per data from past trading results, whereas we have to face the trades that are in front of our eyes directly. Don't just follow advice from YouTubers, they are looking for an audience and so far they don't care whether the audience is profitable or not. Their target is to get double the benefit from what you watch. YouTube or on the telegram channel, they share trading bots, even though the facts on the ground trading conditions are very much different.

Relying on AI for trading would be the biggest mistake of your life. Currently AI is not so well established.
Chat GPT is still far better than any other AI models but still it has a lot of room to grow.
Current AI models are not very capable to help us with trading. We can use it for reference but not for actual trading.
We have to make sure we are doing the trades by ourself and not relying on any AI models for that.
With time, these AI models will get better and may be then we can reconsider this topic.

I don't understand how YouTube is relevant in this particular discussion, but, if you are trying to say that ChatGPT is marketed as clickbait and isn't capable of doing things then you are wrong.

ChatGPT serves the purpose for what it has been created. Of course trading is not a part of it's nature, since it is a model trained with data from the past and for it to even make a prediction based on the most recent data, the developers will need to feed it the most recent data every day or week which I don't think is going to happen. Maybe it will be made this way in the future so that it can self-learn.

YouTube has everything to do with this discussion, OP said he/she has been seeing YouTube videos of ChatGPT being used for trading, and I was simply saying the AI has blown out of proportion and people are not only using the platform to showcase the capabilities of AI but also taking advantage of this by luring viewers onto their channels to gain more views for cash!


Unfortunately, when it comes to trading, the most recent data is not always helpful as data from the past(historical data) is what narrates the story better and which points of interest one should expect a reaction when price gets back into the area and the alike! Of course people use EAs to trade , which happens to be bots.. and I guess ChatGPT wouldn't be any different if all datasets are fed into it by the devs .
 

You need to be more responsible for your action. I agree with how you see those videos coming from YouTube ads, more on clickbait and
more on personal interest to capture interest and to earn more views.

But if you will find time to investigate and do your own research, I believe that you will find
the right idea if how you will be able to use this AI in a favorable way for your trading or
your investment. DYOR is always a must before believing or taking your steps to anything
that earn your interest.

I think currently the AI is being marketed a lot possibly by its owners to promote it's sale or something that has monetary benefit to its creators. We have seen bots work trades previously and you can program an AI to run a trade but what success you might get is doubtful unless you are doing a controlled study.

The correct answer to your question is that only, do a study and see for yourself. One machine to let the AI run the trading on autopilot while the other machine is run by a human for the same time on the same assets.

AI is a program where it makes things easier for everyone. It answers your questions of things that you wanted to know and it saves you time researching about the things you ask. Instead of reading a book that'll take you some time to read its contexts, AI do it all for you, so you could ask things you wanted to know. It will not do the actual trading process for you, like entering a position and will give you easy win (profits) every single time.

It will just give you basic knowledge you need to know so that you can avoid mistakes as much as possible depending on how you will execute what you've learned. Trading is a long term process before you could make a lot of profits.

I think it is high time we stopped the hype around AI and trading. Yes, they are good but still will not be as good such that they can perform some functions. There is a reason why the so-called AI,  ChatGPT has "Chat" in front of it. It is also like saying can Siri help you make trading decisions? Or can Alexa predict bitcoin's price? We still have a long way to go with AI and intelligent machines doing stuffs for human. Maybe in 2050 but right now ChatGPT or whatever AI out there can do trading.

I guess it’s too late to give my suggestion on this topic. But still I will share my knowledge and experience on this. For me when it comes to finances, I never trust with any bot or any artificial intelligence. I am not saying that all the AIs are bad, but yes, I don’t feel secure using AIs for trading. At the end of the day, these are machines only. One wrong instruction can make the whole game reverse, and if by mistake loss is made, then no one can be blamed also for this. So I do not use AI for trading, and I am also not recommending anyone to use it.

Are you guys really questioning whether or not you should trust a bot, over yourself? Whether its AI or not does not matter since AI is still in its baby shoes and obviously the human mind is leaps and bounds beyond the current AI.

And honestly, we might never develop an AI which can outperform a human in the areas that matter most to us. How does one create something better and more complex-minded than oneself? Do we even have the capacity to think of such a thing or does it outstrip our brainpower and is therefore out of reach to us?

Either way, I do not trust my money to a computer algorithm. No matter how impressively it can imitate a human.

I agree with you that AI is not good for trading because simply the market is unpredictable. That's why AI will not always makes you win because it's only follow what setup is programmed with it. That's why we always have to react and if there's a opportunity, then go with it. I tried many strat in trading but none of them has 85% winning rate how much more if we only rely our trading future in bots.

As what my friends said, they experienced winning streak in the first place but in long run it all liquidated.

It seems to me you are talking about strong AI, strong AI is often the central subject on books and movies about robots being human like, and as you state we are very far away from reaching that goal.

But weak AI is an AI which is dedicated to learn and solve a single specific problem, it is here where great achievements are being made, self-driving cars, voice recognition and even the recommendations you receive on your favorite store are the results of weak AI, and trading is a very specific topic which can be learned by a weak AI and if given enough data it can perform at a higher level than most humans.

Well, I think the subject is very extensive, but when we start to see, in my case an AI is a double-edged sword, the most advanced thing I have seen is the GPT chat, and they only have an update until 2021, and we are in 2023, there is talk of an apparent update, but I think it will be updated until 2022, I think it will be like this so as not to return to a crazy world, and its programming is not to make predictions, I don't know, nor do I have any knowledge Yes, there are other AIs that can make predictions, but I think it will be in privileged hands and even so I don't think they will release it to the world, it is very difficult to make an AI that can predict world events, because there are many fundamentals to take On consideration, I still believe that doing trading the way one does, relying on logical thinking and making our own predictions are still more viable and with better results.

Trading is another story and a huge task that an AI can make which is actually out of its design as Chat Bot. I'd never use chatGPT personally but one of my friends tells me how good it is when comes to chat messages, answering questions, and word compositions. It is really amazing to think huh, but I might think that it was really intended for that area, not on trading or in general works. Maybe in the future, the developers will make that programs but still, I'm not sure how good it was when it comes to decisions like normal people can do.

Others are using bots for trading but it depend on how well you program your AI.
It doesn't mean that if you deploy bot in trading, it will automatically rake profits for you.
These bots are using algorithms to execute your trades and works according to your set-up.
And if the market conditions are not met by how you set-up them, you won't get the profits that you want.
Thus, it doesn't mean, if you own a trading bot, it will surely give you continuous profit.

There is one thing that never really makes sense to me when we talk about AI being used in trading for example. When the goal of an AI should be to generate an alpha for a trader, there is only so much alpha in a certain situation in the market to be made. If the AI does a good job, it generates a max alpha for user A. If user B now requests the AI to generate max alpha, wouldn't it necessarily lead to an alpha being perfectly neutralized to zero with a growing number of users?

To me this seems like there is a contradiction because everyone could just start to use a certain bot. In the end it should come down again to who has access to the best software out there, which means it is again nothing more but a programming competition and speed and even then I would be careful because I think it is prone to errors when it comes to external events. How would the AI anticipate something like a pandemic? Or a war? Or any other event that has significant impact on the global economy?

you would never know unless you tested it yourself, AI still have some inaccuracy and just imagine it having some mistake while handling your money it could quite literally make your investments vanish just like that.
so I'd still refrain from using AI for making financial decision, it's always good to make the decision by yourself.
the only thing that could give you edge in using AI is the fact that it could reads the chart and compares it with textbook chart guides, that way maybe you might have some insight towards the market from the technical analysis.
other wise there's nothing really stand out from using AI.
maybe in the future once there's someone that develops better integration with AI then that might be the right time for you using it for trading.

If technical analysis worked in 100% cases then we probably could say if AI will work (may be not today, but in theory) even before using it. Because AI doesn't make anything new, it makes something like it was done before. So right you are, it can be a very useful tool for modelling of different scenarios which you can learn by yourself later, but it will hardly work good for trading by itself, without a control. IMO it is not much more revolutionary than nowadays bots and will hardly become so in the near future.

OpenAI created ChatGPT.

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I haven't tried it and have no intention to. Even if it were to get trading/predicting capability, it would be just like other countless bots available in market. Trading strategies coded into product. You know how well they work.

It is just there to answer your question and won't do anything at all, so it is still up to you how you use it. I think it was just helpful for you to gather data regarding the history of the prices of the current crypto you are trading, and it can also give you knowledge on how to tweak your strategy. It is good for researching which it just answers you immediately on what it can see, which is very fast, rather than checking those websites one by one in Google.

As a trader, I feel y'all might be doubtful about employing AI for trading decisions. But let me tell ya, AI can be a mightly tool to help traders make some brilliant decisions. Even though AI ain't got no emotions or gut feelings like us, it can scrutinize data much quickr and more accurately than we can. AI has the knack to detect patterns and trends that might be slipery for a human trader to catch. But heres the deal, AI is just a tool, not a replacment for human wisdom. We still need to have our heads wrapped around the markets and an astute trading strateggy in place. AI can be a valuable accomplice for making better-informed decisions, but we can't rely on it completley. My personal experience dictats that fuzing AI with human analysis and intution can lead to grandiose trading outcoms. For instance, I use an AI-powered trading platform that gives me real-time market data and analytics, which I then merge into my trading decisions.

But I highly doubt that that does also count for the average trader who gets some software on the free market for a few hundred bucks. The first bots that have been coded for crypto markets might have been successful, but I think by now you are mostly competing with highly developed software from financially strong companies. That is surely the case if you trade on the big registered crypto exchanges.

I have been around for quite some time and it did surprise me often times when people told me they bought some trading software from some random dude on the forum. It usually doesn't work as nobody would give away a software that is almost guaranteed to make some money. Now that the markets got so huge it is full of big businesses who are able to hire the best coders, or probably you are already competing with bots from Google and Facebook who have all the data in the world to build AI-based trading software.

This is why I think that it's wrong to say that "a trader", like anyone who is a trader could make use of it and benefit from it. For most people I am convinced that long-term investment strategies, or let's say longer term investment strategies are the better choice.

I haven't personally experienced the goodness, but many people have begun to use it for trading. Even we do trading based on the particular assets past performance and the ongoing demand. When it comes to AI, it involves in precise data gathering and takes decision accordingly. However in some situation AI can't be same as human minds think. And with cryptocurrency unpredictable market changes happen and at that time how AI works is questionable.

if you think technical analysis is everything then I guess it's true that AI might be good tool for trading but the thing is the implementation, how you can make your AI read your trading chart in real time.
I think AI nowadays in general are still lackluster piece of technology you should wait until newer version arrives with larger data for training then you will get better AI that might suits your need like for trading and investing, I'd say eventually these AI will be integrated in many of the exchanges feature if one of them start bringing this AI to their system it will become like a competition. but surely this wouldn't be happening until few iterations of AI technology.

AI uses the same patterns it can find in a past. If lots of traders will start using AI it will be a great idea for manipulators to investigate the same patterns with AI as others but do just the opposite to ruin the strategy of naive traders trusted AI too much. Market is a place where win-win strategy is hardly achieved so mostly any time there will be as winners as losers. Trusting some known tool entirely usually will lead to defeat. Of course, we'll see, but I don't have expectations that AI will replace traders, it will be just another tool for them IMO.

AI might be useful for some of things, but I'm not at all sure AI can predict the future even though the data it has is a reference for traders. I tend to think that people are starting to feel their brains and abilities are no longer better than AI so they can no longer rely on their brains for all activities, including trading. I really didn't expect AI to replace humans, and self-reliance is usually much better.

Humans were created to think and decide things wisely, while AI only works based on data provided by its developers. When the data is wrong, of course the trader will bear the consequences.

     -     When it comes to various youtube channels that have a trading theme, most of them are really only chasing views, and to get views they will make thumbnails that will get the viewer's attention, just like that it is better to use chatgpt in trading, which actually isn't.

We or the majority of the community in this forum know that the person doing the actual trading is still different because there is emotion involved and we know what is currently happening compared to chatgpt which they say is not true.

It depends on what do we call a prediction. If we expect that AI will give a 100% answer about what will be in the future then it is impossible, at least as modern science know. But if we talk about statistical probability of different main variants I guess it can do so. But if to choose most probable variant all the time you'll get an error anyway as events with low probability happen as well and relying too much on an AI advice can end with total loss. So right, it is important to understand for any tool how it works and not expecting it can do more that it can.

That is all it can do anyway, and yes it could be wrong. It will have all the data that you could have, of course it can process it a lot better and give a much better result, so the answer could be "it can be better trader than I could be" is true, that's not really wrong, but the fact that people expect it to be right all the time is just not understanding the market.

If you know about the market, you know that even the most likely things may fail and when you expect something, just the opposite could happen. Even if we are talking about just a bad news which could change everything. Which is why AI could be better than me, but not without its faults.

When you use a calculator does it count better than you? May be for some people it does so, but it doesn't count better than a human being, it does it faster and for that was invented. But wait, abacus was invented for the same and it is a good helper in counting as well! AI is a good tool also but expecting it will be better than a human... hardly! Than some people... may be... and may be these people should not play in trading at all not to lose nor with a help of AI nor themselves, right?

Emotions can help both ways, different people/trader use different attacks with thier emotions, some might lose becase of fear
while other's are using that same scenarion to take advantage.

In terms of AI, it's still depending with how trader will use it and how they will execute the patterns
that they will going to follow, still need a human decision making before it will execute the strategy.

He will be faster, that's for sure, but most likely he will make decisions based on the algorithms embedded in him, he will know how he should act to one degree or another, but the market does not always move as it should be according to the textbook and therefore it is not clear how good it can be be the result.

If we allowed for the fact that AI can learn and will do so significantly, then it would certainly be much more successful than many traders. It is difficult because we are just guessing, no one knows how it can actually be, but the potential for AI is great.

if there is sufficient volatility, then all are suitable for trading.  Of course, with the help of Ets platform, it will be even easier to achieve results.

What can offer under current conditions and how long has this platform been on the market?

the platform has been on the market since 2014 and offers ready-made solutions and 90 bots can be customized to fit your needs.

If you follow all YouTubers you will be misguided. Because they upload videos whenever the topic is trending to get views, even if they don't know much about it. When the crypto market goes in any direction, they make videos about it, presenting themselves as experts. They do it just to get views and they don't really know about the market. Chatgpt will not help you in trading, because naturally chatgpt does not know the future. Some YouTubers create videos exploiting the emotions of traders and earn their expected views.

Open AI is a robot that contains a lot of data. This robot is so rich that it can present pretty much anything human needs but it is artificial. Moreover we know it works mainly based on different information. It has no idea about the future. It can never be predicted. But can guess. It's assumption can never match in reality. So I would say that no one should never be relied upon on Artificial Intelligent. Especially in any major financial issue like trading. Here the decision to be taken by combining own intelligence, knowledge and experience can be considered more appropriate.

I really don't know if AI is actually useful when applied to trading but I thought some people might need to test it before we say something wrong. As far as I read and understand, AI only helps traders get data, it only depends on the data that the developer has so that the level of accuracy can also be doubted. Humans are developers, predictions can't always be as accurate as expected when the data they have is wrong.

So when AI leads trading ideas, then I guess losses will only be consequences that are hard to avoid. There is the same pattern of every AI user in trading, it is easy to predict and it is possible for others to take advantage of it.

We don't need to depend on A.I for we to trade because using a robot to trade will make us vulnerable to loses if we don't have control of how trading works. The market cam be very confusing for newbies who are just trying to learn about trading but a protraders would know how to position there trades without any much problem because they know how the market sentiments works.

Using A.I is like the normal robots we do use to trade and it is not the best for traders especially for the intermediate and newbie traders that have all intention to make profits without upgrading there skills.

Lemme tell ya, AI can be a real game-changer when used rite. It's like havin a turbo-charged brain that can crunch numbers faster than a speedin bullet and spot patterns you'd never even dreamed of. But heres the thing, AI aint no magician, it's only as good as the data you give itt. So, you gotta be sure to feed it the right stuff or it'll steer ya wrong and cost ya big time.

And let me tell ya, if you're not constantly mixing it up and trying new stuff, you'll get left behind faster than yesterdays news. Stayin on top of your game means bein creative and adapting to the market's twists and turns. And, bro, let's not forget about the importance of humor! You gotta be able to laugh off the curveballs the market throws at ya and learn from your mistakes. It's all about managin risks and being willin to take calculated chances. I once hit the jackpot by holdin onto a position longer than I expected - bigg gains, baby! So, keep it fresh, take some risks, and always keep that creative mindset pumpin'.

Time will tell how effective AI will be in trading. Before using something new, it is important to know the details about it first. AI is still new to us and we need more time to learn about its proper use.

AI may be so advanced one day that trading and proper use of AI can be done. At that time, the advantages and disadvantages of AI in trading may be realized. But I am always more interested in manual trading than using some kind of automatic trading system.

It is like competition between projectile and armor: you can be ahead of all for some time but others also want to be at a top so they work to overtake you. If all could win at a market then it could be so that some tool could be really effective, but all can't win, so each time it will be more important how can you use tools you have and not tools by themselves. AI is just another tool, not more. And we can expect that it will be a good tool... if to use it wisely.

I think the use of AI in carrying out technical analysis is a bit reliable. but I haven't tried it yet. so don't know if it will actually be useful or not. but maybe we can ask to see what chart patterns form in the market chart. but I wouldn't rely entirely on AI. AI may only be good as an information seeker and other aid in fundamental analysis.

 AI can be good for trading only you have an understanding of how it works, as it only there to assist you with analytical guidelines that aids you in making better trades but not that it does the trading for you but rather serves as a trade assistant tool. I think AI is more beneficial to beginner traders as it uncover to their knowledge awareness areas of interest to watch out for in trading.

First of all, you are ignoring the fact that there are sooooo many people who are so bad at math that they would have hard time doing additions, let alone anything else, I have seen people who failed in math multiple times, and never really understood it and didn't even really have any intend on getting any better neither.

So yeah, calculator calculates better than a human, faster and more precise, 99% of the population would fail getting the right answer, let alone be any faster, 99.9999% of the population would be either slower or wrong. Hence, yeah, I would say calculator is better, and with this regard, if done properly and used correctly, an AI trading bot could be better than 99.9999% of the traders as well.

TLDR AI prediction equals to any other out there in the market.

to predict now what will be the price of BTC after 24h or some other number, Hmmmm...NO.  

One can teach AI to recognize historical trading signal patterns or certain behavior of the market . the result of predicting based on this data ,as being said -statistically has the same chance to win or loose as human .
that being said,
AI help significantly  in processing historical data to decision making,  
we have some time until AI will be able to develop by itself His way to predict market, we are not there yet, it's called AGI.

  

OpenAI still has some limitations but it is continuing to develop on its own as it face those questions. It may not give accurately what it can do to help traders but it's based on factual.

I haven't done it yet but if it's possible to do all of those analysis and it is giving some decision making thoughts, many would be relying on it.

I'm not a good trader and I think that many would purposely do that and I may give it a try if someone shares his experience on how helpful it is to his trades.

No, I keep in mind that lots of people have problems with maths and I saw how many mistakes they made using calculator because they didn't understand how it works. If some tool is like a magic wand for a user they will make as many mistakes using it as it only possible. So if the one doesn't understand anything in trading and will rely on an AI they will lose anyway.

So no, calculator is not better, it is just faster. You can easily make a mistake as yourself as with a help of a tool, the only difference is that if you rely on a tool and trust it your mistake will probably happen more rare (statistically) and bring much bigger damage.

AI can only give you results according to rules. So it can make recommendations only as good as you can, it still has to follow rules and conditions set by the programmer.

AI trading has been around for 10 years or more. I remember all kinds of forex ai programs.

Now people think crowd wisdom.

None of it works. Use your logic. If AI could even work for 1 satoshi per trade, why would anyone even tell people or sell it? I would make a zillion trades a day.

ChatGPT is one of the algortihm that creates the code for the developers which is a chat bot you can ask even can create a bunch of codes with your just a request but recently they are now using this bot to get a lot of information this AI must need to have a command and I guess still depends on the script of the users would like to use the ChatGPT afaik right now has a payment for a monthly subscription for me better to learn with this bot and not get dependent on it.

Learn from the bot with what he can provide, especially this information that can lead you to a much better success rate. I'm sure learning still on you as the AI needs your inputs when executing the trade.

You can use it as a good learning platform but also there's a need to keep learning, especially with a kind of
industry crypto market is executing. There are lots of unpredicted outcomes and there are many factors that
we needed to consider.

AI is progressing a lot and many big tasks are now being done through artificial intelligence but I am still not sure how much AI will work in trading. Because I have never traded using AI myself and I have yet to learn from any professional traders how well AI works in trading.  But since AI is improving day by day so I think AI may not do good for trading at present but in future upgrade AI can do a good job for trading also

I was a bit surprised to read that ChatGPT should be involved with trading, because they try to be children friendly and political correct. A friend of mine has tried a lot of things with bot and says there are a lot of limitations. With OpenAi it's something else, it can be used in all aspects of life and can bring value for the users. However when it comes to trading I am sceptical, so far I haven't seen a profitable AI based trading strategy. Financial markets are very complex, and while many traders use computer system to support their trading strategies, they still need human input and supervision to making sure the bot doesn't break down. Self learning AI is definitely the future, but when it comes to trading do we think there is this one perfect pattern the AI will identify? I don't think so, human action always involves emotions and the more people are involved the bigger the emotions. I do think there are strong patterns in the market, but they are changing with the market conditions. A strategy that works well during a bull market is not guaranteed to do well in a bear market and vice versa. The Ai might have problems switching between such strategies.

I don't think it's wise for anyone to allow bot(s) trade for them, honestly. I talk from experience. During the early days of my trading involvement, I was introduced to trading robots. Then crypto wasn't even a thing. It was FX trading. Robots or bots can make you money but you will eventually lose it when the market becomes choppy. Bots are programmed for certain market conditions and those are trending markets – bull and bear. Once the market goes into range, robots won't understand the direction anymore and they become indiscriminate in placing trades. The best is for one to learn the skills and be present minded trading it. If you don't have the time, then don't trade.

I can't ascertain the source of your info, you should have at least shared the link to the Youtube video that claims such. Well, be informed that many of the Youtubers are pathetic lies, they are only trying to gain traffic to their page. From what I know about the two (CahrtGPT and OpenAI), they are not coded to tare for anyone, but to give information.

However, some people might want to try to manipulate them into giving them trading advice, but I am sure that they will fail in that because they are not designed for such a purpose.

You know, sometimes I play eagle and tails to find a solution I'm not really sure in. And I'd say it is a good option to save time in some cases as when the arguments are equally good for the two options sometimes you need just to choose the one and start realizing. But anyway I understand that it is not a decision of a coin, it is my own decision to use random. So when you use some divination for trading you should anyway understand that it is not AI who trades, it is still your decision. And consequences of that are on you and no one (and no thing) else. ;D

I guess it can help but when it comes to real trading, it will never be reliable. Our own knowledge and honed skills in trading will still be the best sources on how we can make our trades successful and profitable. ChatGPT is only a chatbot, it can be useful if you are just making some queries and it will give you somehow good answers, but knowing trading is always unpredictable, this ChatGPT can never predict what will be the future outcome of your trading.

Well, the ChatGPT thing is nothing more than a fad, now that the written bot has come out to the world, almost everyone uses it for whatever, despite the fact that it has to be made many corrections, it is obviously not apt to give predictions, besides its information must be updated and although OpenIA does not allow you to make predictions, any bot that has AI can do it, there are many specialized algorithms with the best mathematical modeling that can simulate many events, and among them are probability and statistics, obviously it is much more fast than us, because they have all the information ready to be searched and executed, in this sense, there is still a need to optimize the AI, there is still too much to do.

And what results are you expecting from an optimized AI? If to summarize different data then programs were able to do that before AI. If to predict accurately then AI is not working that way and we hardly can expect that nowadays developing if AI will lead to something like that. So AI will become just another tool for trading, I suppose it will be a good tool, but as for any tool you need to understand how it works and how to use it most effectively, otherwise the same tool can bring damage.

Of course, having an optimized AI is still not a guarantee that it can have very good results, for an AI to give moderately good results, according to what I think, it would still take a long time, I would say years, because it is complicated, if nothing else. AI detectors are bad, imagine everything that an AI is missing? What many traders look for with an AI is for the AI to do the work for them and for the profits to increase, obviously it is to win, but I see something like this too far away, it is not within the parameters that people expect, it is impossible.

ChatGPT can't help you in trading. Actually, it can't predict the future and it's data is limited to 2021. In this videos, they build trading bot in Python with the help of ChatGPT. I mean, when you have a question in programming, you can ask ChatGPT and it will provide you with the information just like google but it will represent everything in human language, i.e. it filters information and rebuilds it. It gives answers similar to how human would answer you if you messaged.

Overall, I want to say that AI trading bots don't exist. There is not a public AI trading bot that can analyze charts, news, everything that affects the data and then give the prediction like an intellectual.
Also, I can't call if a = b, return c function an intelligence. It's collection of bunch of functions and operators.

The situation turns out like this: scammers know perfectly well that ignorant people do not know how the bot works. At the same time, they themselves do not know. And due to the fact that artificial intelligence is now in trend - they are trying to sell their program to everyone. The bot does not know how to trade, if it could, its developers would already dominate the market. Now it is best to be suspicious of all coins and programs that touch on the topic of AI.

If it is a self-learning AI, then I think that its progress will be very fast and its capabilities will be very impressive. He will be able to study and try many strategies in different markets and, based on this, find great deals that will be profitable. I may be overestimating the possibilities of AI, but in the end what holds us back when we look for working strategies. For me personally, it takes a long time to test a strategy, AI can test hundreds of strategies at the same time in much less time.

That's the advantage, it can execute many strategies in the same time, while with human process it will take lots of time before executing it. If that can be done, the chance is good for AI.

End of the day, it's still traders' decision whether to use it or not, there are still many things that need to
consider before using it, still needs a test period to make sure that it will bring a higher chance of trading
success.

The ChatGPT seems toake life easier which isna friendly app but presently I had that there were bam on the app in some regions. There had been lots of similarities compared to a human scripts and that of an AI which can never be the same.
This app make work easier for programmees to be able to code with ease. I see it as a good assistant for coders to get things done smoothly and the monthly subscription is okay for developers to make use of it in the best possible ways. I will not advise a newbie to go for IA trading because that would not yield a better result for them.

Artificial intelligence can analyze risks, spreadsheets and other data, but if the trader does not have prior knowledge of the subject, he will still have a lot of risk.

Analysis does not mean certainty, so think carefully before using this data, common sense should always prevail so that you reduce your risks.

Okay, imagine the situation when AI is as good as the best trader, everyone can get their AI and start trading and everyone will earn at the market as the best traders. From where will they get an income? Nowadays income is summarized from — as a small part — growth of entire economy (when it grows) and from losses of other players as a big part. When everything will be done with an AI it will won't work at all and trading will be over or AI will never work that way. Choose prediction you like more. ;)

In trading, a trader needs to have a wide range of knowledge and it must be dynamic. But the bot can help you with some calculations which you may take time to do manually, in the case of the bot it will take seconds. But trading will not run according to any rules. In this regard a trader will be guided in trading with intelligence. So I am not interested in using robots in this dynamic work. Major disasters can happen at any time. Although AI has improved a lot in recent times, but since it is artificial, i think it is better to do it with your knowledge and skills depending on the trading environment rather than depending on AI.

There are many sectors where AI is doing good job and working just like a human like in car assembling units AI powered robots are assembling cars without intervention of humans. But the case of trading is somewhat different, at least till now. If AI can work like humans in trading then that will be the day when the entire mankind will be millionaire.
The AI tools can be used to get guidance about trading but cant work independently in trading sector.

what you said is very true, AI is perfect if it is used to help heavy human work such as drivers - mining workers - nurses - cleaners, not for trading activities.

AI is still in the development stage, apart from that there are some experts who say that AI is difficult to implement for trading. AI lives on the internet network so when all traders have the same trading AI, it can be ensured that all trading activities carried out by the AI (selling or buying activities) are carried out simultaneously and I can't imagine how messed up that is.

In my personal opinion I have to answer for your question.
Yes for- Because it can help you with important information about trading like candle analysis, chart monitoring etc. I would call it indirect help specially if it is about Chat GPT.
And no for- Because chatgpt has many limitations regarding data and it is not aware of current data so I don't think it can directly help in trading in any way.

It’s better to not rely on any bot or AI when it comes about your finances. These are only virtual machines and they read datas and give instructions. If by chance with wrong instructions, your all money is lost, then no one other than you will be blamed for this action. So as advised before, don’t use AI for trading. Also it’s not good to use data and analytics from these AIs also. As 90% of the time, they aren’t updated with the current market scenarios and prices. Now rest is upto you OP.

ChatGPT is a good and useful tool, but it is not 100% reliable, even if you are using it for programming or coding tasks, you will still need to double-check the code and the bugs it may have. Though it can sometimes generate a total of 100% accurate responses and codes, it is not advisable to use the responses directly without a human check.

What it does is it makes the process easier. A program that might take hours or days for a human to be written, ChatGPT writes it within minutes, and then all a person needs to do is check if the code has no errors or issues. You need to be aware of programming languages yourself of course, in case there are errors so that you can rectify them.

AI is always good for the technical analysis if it could reads the chart, but as far as I know this openAI's chatGPT is actually not a real time AI meaning it might lack some new information.
but if you are just looking for guides from the textbook i'm sure it could be good for you, regardless this AI is still lacking in so many areas that I doubt it's gonna be that useful for trading.
but sometimes trading isn't always going like in your text book it could stray from that and also some times there's also tricker and luck involved.

If entire mankind will become millionaires then these millions will cost nearly nothing. Resources entire mankind has don't give an opportunity for luxury for everyone and will hardly do so in a future, because more developed economy becomes more needs we have at a basic level. So no, AI will not make us all richies, it will just raise the level of consumption for majority. And of course there are different fields where AI works good at the moment already, but but it is good not for every type of work activity and some works will, most expected, stay for human beings, including trading (if it will stay).

where can i learn more about the platform?  what is the comparability with operating systems and on what devices can I trade, as well as how many algorithms are used in bots and their ability to be reconfigured for a specific trading style?

Friend, trading is not that relaxed, which is why many bots have been built to trade the market but none has had an outstanding performance till today. These are bots that some are paying as much as $2,500 for, but in the end, they failed. Not to talk of an AI that was not explicitly designed for trading, it might know all the theoretical aspects of trading as it supposes to but practicalizing it in the real market will be a problem, just like the challenges that trading bots are facing.

The real market is not a play, it will frustrate the AI and those that are trying to manipulate it for trading advice.

I will also say the same thing I would also like to say that such bots have no direct use in trading.You gave a perfect example already. However, the guidelines needed for  trading can be used by such bots or the Open AI project. Also I don't think relying on them for trading signals would do much good and it also may the cause of loss of those traders.
Also as per my knowledge most of the sectors of open AI project are not aware about current situation especially chat gpt is limited till 2021.

interesting idea, but I don't know if my knowledge is enough for trading.  Do I need to know how to program to set up a bot?

😁 no, no, don't worry, bots are assembled in the constructor

When we talk about possible AI trading tool we mean something in perspective. AI is developing very fast and we expect that it will conquer different branches of the economy in the nearest future as it can do many laborious things which are usually not pleasant for human beings. Technical analysis is maybe not so unpleasant but making lots of different predictions can take lots of time and if AI will do it for us it will be great (IMO). But it is not the same as let it trade for us.

Yes, it is quite a useful tool to do the analysis that we as humans could take 2 or 3 hours to do, the AI does it in a matter of seconds, so for now we as humans have a lot of advantage because we have the power to make decisions, that it can be a very important tool, yes, but we all know that AI is a tool and that it is in fashion, everything that is said is based on AI, these are things that should know how to take advantage of those who want efficient results, immediate to win in trading because unfortunately that has not yet arrived.

Although I've heard of trading bots, this is the first time I've heard of trading AI. You can use trading bots to assist you up until a certain point, after which you are on your own. I believe that AI trading is the same. I haven't tried it, so I don't know enough about it. I'm not sure what to say at this point, but I need to have some knowledge about trading bots. I'll tell it again: don't rely on these AIs and bots. That can stop you from learning how to trade properly, because trading ought to be enjoyable. By employing it, the appeal is lost.
I agree that it could be useful in many circumstances, but don't rely solely on it. first DYOR, then trade.

Granted, AI traders with a specific focus on trading are yet to be developed. That being said, I am confident that it is simply a matter of time before someone creates one. Just picture a future where all trading is undertaken solely by AI traders. There would be no irrationality, only dispassionate analysis of real-time market data. My conviction lies in the split-second decisions that AI traders will be capable of making, capitalizing on even the most minute market trends that humans would overlook. Nevertheless, we must be cautious of the risks associated with AI trading. It is paramount that we regulate and observe the use of AI traders to minimize any prospective threats

i also initially thought that ai trading would work much like a trading bot.  But later i saw that there are many companies or traders who are trading based on ai. With AI they identify potential risks and come up with good strategies. However, using AI does not mean that only profit will be achieved, there is always risk associated with trading, even if AI is used, it will remain. And I think you have to be well trained to trade using AI, otherwise it's like steering a car to a blind man.

In that you are right, maybe as a trader you have an analysis already established, but you want to try certain tools to see how good the final decision can be,an AI can quickly simulate the different tools or indicators and you as a trader decide which is the best option, but predicting that way or that the AI says what the signal is is not feasible, an AI can be very fast calculating, mathematics can be its great forte, many people in hedgerows are currently looking for solutions to traign through bots They have AI, but if they listen to everything, they may lose a lot of money.

Many traders rely on AI tools which I think isn't a bad thing because it shortens the period of technical analysis that humans can do so it is actually a big help. For professional and independent traders, I'm not sure if they still rely their decisions on AIs but for those who are having a hard time doing technical analysis, it will be an edge to use it.
It is part of the continuous innovation of AIs n the crypto industry so I believe that more developments will make our trading journey easier in the future.

I doubt that many traders rely on AI, maybe someone does it for the sake of interest, but personally I would not trust my money to AI forecasts. Perhaps for the sake of the experiment, it was interesting to do this, do the analysis yourself and compare it with the AI ​​variant, how much it will right or not. And then see who was right, and repeat this action a few times, I think it would be a good experiment.

Some traders are now willing to use AI for trading and some don't think AI is always appropriate for trading. Because this AI will be trading by depending on an algorithm it is not possible to get instant changes on recent events or other things automatically. I am not willing to use AI in such activities.

Please do not too much trust AI for trading. But these could be excellent tools to learn how to trade, what factors are to be considered, etc. In my personal opinion, you can use your insights and also insights from the AI tool you are using to attain better decision-making.

Using a tool you don't know how works is risky. I saw people who made ridiculous mistakes with a simple calculator because they relied on it and didn't think if a result looks correct. If those ones who don't know how to do technical analysis will just use AI instead of learning they'll probably make huge mistakes, maybe not instantly, but they will. Technology can make life easier but it can't replace a human being if we want it still work in the interests of humanity.

There will be ways to operate, but it is not the solution to leave everything in the hands of the AI, because it is a double-edged sword, you can win but losing is the surest, the AIs are not optimized, they are not in a complete development, for My AIs have a long way to go and so far they are starting, personally they have Reached my telegram offering profit plans with trading and when I ask them how to do it, they tell me that they have an AI bot, and that's when I tell them that it It is not true and that a bot cannot make one person or thousands win, this is obvious.

It is a bit of a no brainer to be honest. 
 
The problem is that you don't have a lot of experience in trading, and you are a beginner who has no idea what it is all about. 
 
But if you are an experienced trader, you can learn a lot from your experience and be able to make a lot of money in the long run. 
 
I would suggest you take a look at the source code of ChatGPT, and check it out. 
 
You can find it here: https://github.com/gambler/ChatGPT/blob/master/tutorial.md

I feel that AI is just like a bot that is constantly being updated. however, I think the AI system also compares speculation and analysis of existing data, whereas trading always moves based on the needs and wants of the market at that time.
However, I do not recommend this. I prefer to trade with the speculation that I have. we will never know when the AI failed to read the price chart, and I think the risk in this case is very big.

Trading will never be as effective in AI systems as self-knowledge is in trading. ChatGPT has certain systems added and those systems are added by humans outside of the system ChatGPT is connected to but no trading information is available. When people gain full experience and expertise in a trading subject, people research the market beyond certain facts. Trading directly involves our financial assets so I would never depend on AI for trading.

Yes, it is true that AI is good for trading. AI systems can process vast amounts of information and analyze them in real-time, which is useful for stock trading and investment
There are also various AI trading tools/bots available
However, it is important to note that AI is not a guaranteed solution for beating the market and must be looked at often

Recently many open AI products have come to the market which can perform tasks very efficiently. But almost everyone knows that AI trading will not be very successful. Because trading is not built on any particular database. There is always change. I'm skeptical about how an AI can make good sense of these changes. But it can do well in other areas apart from live trading. Since trading goes at its own pace, I will focus on my own skills and strategies for trading as best i can in this market. Since they cannot make future predictions, Those AI will not be successful in trading.

Why don't you trust a robot? There are a lot of robots working for human: they produce cars, they sort garbage, they do a lot of useful work and it's good that human beings are no longer do such a monotonous and unattractive job. The problem with AI and trading is in that some expect AI will do everything for them and they need no understanding how it works. And it will not work. When all will use AI all can't win. So or there will be ones who understand better and using AI will use their knowledge and experience as well winning from others, or probably this will be like a lottery when you never know if you'll lose or win.

whatever it's called, AI is just a program tool and not much different from applications that are currently circulating, AI will not be able to replace the role of humans in making decisions, every prediction that AI makes is only for consideration by traders.

so even though in the future an AI will appear which claims to be able to provide good predictions for traders, so don't believe it 100% however the decision to sell or buy 100% must be in your control.

Chat GPT can help you but not accurately. If you follow the chat gpt you can get information from there but I don't think that information will be very useful for trading. Because you can generate signal as accurately as you can in trading platform but Chat GPT cannot generate that signal accurately. Although I have spent a lot of time on trading platforms, I have never traded with Chat GPT bot. Currently everyone is saying this Chat GPT AI trading bot is good but I will never accept it as good. Because I don't think this chat GP is suitable at all.

That's how it is and we should know how the chat GPT works,
basically it will only help provide basic and general information so don't expect more than that,
which is clearly important to be wise in using technology.

Whether it's a chat GPT or YouTube or a blog, it's important to keep in mind that no kne know the real prediction of any coin. For information about any coins future events, buyer and seller volume and other i think Chatgpt is best option. One should use Chatgpt for this purpose and can take trade. no doubt it's risky also because sometimes the information did not match and crypto price is not predictable.

I ask ChatGpt which coin to buy now and i got answer Below

AI will eventually become a God trader but I don't think this isn't the right time for you to use it, think of this times for AI as trying times, they're still perfecting it and you don't want to get in while it's still on it's trial phase, maybe wait for 2-4 more years, there's going to be some big difference there definitely. Right now, I think people are just hyping it up and not a lot of people knows how to use the AI efficiently anyways.

Preferably a trader can use AI to validate a trading setup which I think is far better than relying solely on AI alone, there are instances where price defies Technical and Fundamental analysis let alone AI which relies on Algorithm, there are bound to have inconsistency in profit if a trader rely on AI for trading, of course there are few YouTube videos featuring AI trading personally I think the owners of those videos are looking for more numbers of views to make money, some years back bot was also introduced to trading it outcome was nothing to write home about, personally I trade manually with any automation if deploy AI to my trading I can only use it as a backup.

Great. It seems you have more free time? But for those who are busy, they are only using an AI or a trading but don't worry because the strategy that the AI is using still comes from their own analysis. It only becomes risky if you let all the work to the AI but you can always review their gathered analysis before you run them.

I think another thing that makes you worry is what if the AI became faulty during the middle of their run? That should messed up your trades and eventually drain your balance. I think it would be better if the developers put something like a fuse (the one we have on our electronics) to stop the program once it starts to malfunction.

I agree with these because as we have advance in our technology these days, it cause no harm to take advantage of these and try to use it for the things that can help us just like in trading. But, I view it as a helping tool rather than the sole basis of every decision that you make. Human capacity for judgement is still more advance than AI so what we can do really is just to use it as an aid for us to see how would the AI decides and makes some judgment on it so that you would not be so reliant in it. I think that trading is risky enough and if we make the AI trade for us make it more risky so just take advantage of it since it has its potential as well.

if this is true, I don't know how expensive the bot will be sold. those who are called AI are not even stupider than humans, they are really very smart because we contribute data every day. I think this endless AI brain if used in trading bots will produce more mature profits, at least they can predict signals more accurately than paid channels

They can be better than those so-called expert paid channels.

AI uses data that is collected over the internet. With the use of good analysis,
the chance of predicting the direction is quite possible, as the market most of the time is just repeating itself.

Based on the past market situation, AI can collect those signals to provide better analysis and better judgements
when providing the possible next market run.

There are good AI bots in the market that we can use to trade Cryptocurrency or any instruments in the market but it is always expensive especially if the accuracy is massive. This is another pro traders that do build bots for trading makes there money without any stress. I have seen good bots with less inaccuracy that many traders had been using to back up there analysis do that things will favour them anytime they enter the market to make some trades. The most important thing is for us to get the tools and will work for us with good profits.

Okay, let's imagine there is a wonderful profitable bot which can be bought by anyone. So there are hundreds of millions of it's users. How all these people can get a remarkable profit at once? If it was possible that everyone gets income then there would be no stocks, bonds and currencies markets. Main idea of such a market is that there is a probability as to win as to lose. It is impossible that any tool can give a possibility of winning for each and every.

Although I'm not sure if it's better than the paid VIP Channel which provides fairly accurate trading signals. But my friend has tried AI to write Scripts for trading analysis in tradingView. And the results are quite surprising because the level of accuracy is quite good. Although maybe not one hundred percent in a small timeframe. but in a timeframe of 4 hours to 1 day, the accuracy is quite precise. Except when there is a release event for the world economy. then the volatility is not included in the analysis in the AI-made script.

It's true that there are a lot of AI bots available for trading cryptocurrencies, and their costs vary depending on the tier you want to use. These bots automatically execute trades in accordance with the user's specified criteria, but they are not always as profitable as you might believe. It's important to keep in mind, though, that using AI bots for trading comes with its own risk, so it's best to learn how to use them before you use them. Gunbot, 3Commas and Cryptohopper are one of well-known bots for trading cryptocurrencies.

What I think is that a good AI robot should have a lot of high-frequency trading information, if an AI robot knows that, I think it would be earning a lot, because that is the type of trading that can be done and always have the profits safely, I think there is no other way to do it considering that the bitcoin market is a market that is not consolidated in its volume, each exchange manages its volume, unlike the forex market that is always under a consolidated volume, Because it is a much more controlled market, then AI robots must consider these premises in order to use it with complete confidence, meanwhile not, because it is considered a high risk for losing money.

Some profitable trading Bots we have out there is constructed base one's strategy, However I haven't tried trading using trading bots but have seen traders who have profited and traders who have also gotten raked due to their reliance on trading Bots. If A.I are this reliable every trader will tend to be having own trading bot and no trader will have to bother him or her self analysing the market and placing trades , when bots will do the job and relieve traders from the stress involved with trading.

AI can be useful if you already have good patterns to supply.

It's more on the executions that AI can help as there's no emotions and it will wait for your set targets,
unlike with human practices most of the time emotions dominates and with fear inside and unsure
anticipation you will lose your investment.

You may be right about that, because that's also my opinion in the past, but I don't think there is any proof yet that AI trading bots or human trading ideas are better. If there was any proof before now, I have yet to see it. Anyone can share if they get their hands on any information like that. I don't even buy the idea of this whole trading bot stuff, but I guess I might if it has been 100 percent concluded that trading bots are doing better than human intelligence. All I can say about the bot is that since it has no emotions like humans, it will be more principled in its risk management and deal well with investors capital to avoid taking a heavy risk when it's not necessarily very favorable to enter the market. Some people don't mind the risk of trading; no matter the market situation, they want to take a risk that can give them a heavy profit out of greed and emotional pressure.