Is it true that this AI is good for trading?

[jokers10]

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.

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.

[tygeade]

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.

[jokers10]

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?

[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

     -     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.

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.

[Inwestour]

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.

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.

[AngellSky]

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.

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.

[Wolfwar]

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?

[AngellSky]

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.

[ScamViruS]

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.

[GigaBit]

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

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.

[indah rezqi]

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.

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.

[GiftedMAN]

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

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.

[death69]

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.

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.

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'.

[ScamViruS]

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.

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.

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.

[jokers10]

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.
...

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.

[BRINIRHA]

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.

[Lida93]

 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.

[tygeade]

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?

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.

[mrkfdr]

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.

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.

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.

  

[jossiel]

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.

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.