Is it true that this AI is good for trading?

[Oshosondy]

^ 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.

[LUCKMCFLY]

^ 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.

[wxa7115]

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

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.
(.....)

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.

^ 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.

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.

[Oshosondy]

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.

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.

[Ludmilla_rose1995]

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

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.

[AakZaki]

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.

[Pamadar]

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

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.

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.

[blockman]

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.

[Woodie]

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.

[Fatunad]

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.

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.

[blockman]

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.

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.

[bettercrypto]

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

  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?

[JoyMarsha]

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.


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

[hyudien]

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.

[pawanjain]

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

snip

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.

[doomloop]

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.

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.

[Woodie]

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.

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!

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

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.

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 .
 

[Pamadar]

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.

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.

[TheUltraElite]

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.

[AicecreaME]

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.