Has someone tried to use ChatGPT to help in trading?

[mvdheuvel1983]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

I was watching a YouTube video where the youtuber asked ChatGPT to write a Pine Script that draws 50MA and alerts him whenever the price goes above 50MA.
What is a Pine Script? A Pine script is a programming language created by TradingView to backtest trading strategies and create custom indicators.
And despite ChatGPT actually writing the script but  users on stackover flow commented that ChatGPT can't do pine script, so don't even try. Pinescript can't import CSV files (and in any case, this is not pine script valid syntax). I trust the responses on stackoverflow. Therefore the answer to the OP's question is that ChatGPT can't help it with writing trading scripts

[Russlenat]

ChatGPT isn't a trading tool, it's simply just create a random paragraph from an article or someone thought, if you think ChatGPT is credible and you can trust your money with this bot, I have no words to say for you.

There are many people really want to make money quickly without doing anything, but most people are just stupid for believe anything about automatic tool or robot trading that they think it will work without any understanding behind the tool.

ChatGPT is never designed for trading as it can only be a natural language processing tool and can never be trusted enough to make a successful trading. Unlike with our own intellect and built skills and strategies, we can rely for them so we will be aware if the market is good enough to trade or not. ChatGPT can be helpful in some tasks like if you are in teaching and learning scenario, but for trading, it’s hard to predict and analyze the market if the market alone is very unpredictable.

[Alone055]

I've tried it after reading your post to provide an example of what it says when asked about future predictions of cryptocurrencies, in my case, I asked it about the price of Bitcoin after a week from today, and here is what it said:

[Mr. Magkaisa]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

    -   I tried using that, all the questions you can put or type in that chatgpt, that's why it can only give you an answer that updates are only until 2021. When it exceeds this age, the answer will no longer be appropriate, and often the answer it will give will not be constructive or it will be off-topic or far from what is being discussed.

This is what I observed on this platform, but below 2021 that question will be answered properly and precisely.

[Coin Gorilla]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

This is what I observed on this platform, but below 2021 that question will be answered properly and precisely.

I've come across a lot of inaccuracies during my testing, something simple, straightforward, black-on-white information like which license an xyz casino hold, so it still needs a lot of post-validation and fact-checking.

[BitcoinTurk]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

No, I didn't tried it yet but while someone said me some did you hear ''Chatgpt'' and it's doing bla bla i heard a lot of different kind of stuff. I'm not sure if it's a good idea to get help for trading tips from Chatgpt but it worth to try. Also, if we're not tried it with this way, we cannot answer your question well. For now, i cannot reach it because of high demand but I'm going to try take some advices from it when i had a access for it. In my opinion it can help for swing trade maybe but for long term advices we cannot trust it yet.

[xSkylarx]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

    -   I tried using that, all the questions you can put or type in that chatgpt, that's why it can only give you an answer that updates are only until 2021. When it exceeds this age, the answer will no longer be appropriate, and often the answer it will give will not be constructive or it will be off-topic or far from what is being discussed.

This is what I observed on this platform, but below 2021 that question will be answered properly and precisely.

I haven't tried making a trading bot, but I always write a script for my daily tasks so that they can be automated, and I'd say you still need knowledge on it. What I mean is that you can make a bot out of ChatGPT without any knowledge, but it is not optimized and you will need to edit it to what you want. ChatGPT for me is an assistant; for example, if I need to find a part of code, it takes only seconds in ChatGPT rather than searching for it in Google and still reading some articles. Overall, you still need knowledge about it, and ChatGPT is just assisting you with other information.

[m2017]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

ChatGPT finds more and more applications in different areas and it was a little unexpected for me to learn about writing a trading script using it. How did I not think of this myself? Although both the idea and the solution lay on the surface. But my question is, how well will this script be written by ChatGPT? Will there be some kind of failure or bug at the most inopportune moment? All the same, your money will be at stake and this is fraught with big losses. Also, how effective can a script written by ChatGPT be? I suppose using ChatGPT to write a draft version of the script, but would have it checked out by a professional. Just in case.

[beerlover]

my question is, how well will this script be written by ChatGPT? Will there be some kind of failure or bug at the most inopportune moment? All the same, your money will be at stake and this is fraught with big losses.

When it comes about trading, then failure is also just part of it. No one could give a perfect script for a trading bot which will never book a loss. I am just curious on hearing success stories on chatGPT from crypto traders. It might take some time but I am confident about something such to hit this community as well in real soon.

But the point is, when everyone or at least 50% of crypto traders are making use of scripts by chatGPT then the competition for grabbing a reversal levels will be huge which again lead traders to miss out right trades. It means, when massive number of traders are adapting something then its efficacy will drop significantly as per my understanding. Let's wait and watch what are the surprises to be unfolded by this new AI thing.

[Kgdktac]

The ability to generate human-like text allows GPT models to be used for tasks such as natural language processing, content generation, and data analysis. Some people may be using GPT-style models to assist with tasks related to trading, such as analyzing market data or generating trading ideas. So yes very possible

[eaLiTy]

~
 ChatGPT can be helpful in some tasks like if you are in teaching and learning scenario, but for trading, it’s hard to predict and analyze the market if the market alone is very unpredictable.

ChatGPT will help in creating scripts if you know what to input. You need to have the knowledge to do some edits to get a proper script with the output in order to incorporate with trading and it can be used as a trading bot. You can find several videos online where people are creating trading scripts with ChatGPT . So it is possible to create a trading bot.

[JooBra]

~
 ChatGPT can be helpful in some tasks like if you are in teaching and learning scenario, but for trading, it’s hard to predict and analyze the market if the market alone is very unpredictable.

ChatGPT will help in creating scripts if you know what to input. You need to have the knowledge to do some edits to get a proper script with the output in order to incorporate with trading and it can be used as a trading bot. You can find several videos online where people are creating trading scripts with ChatGPT . So it is possible to create a trading bot.

Yeah I did that but still with a bit of googling and knowing where to look you can find same thing. Only good thing is that ChatGPT find it for you.

[Ben Barubal]

Yes I peeked and tried this chatpgt too. It seems to be almost the same as google search, but the only difference is that it does not advance the questions you will make, unlike google, even if your question is not yet complete, it gives options to our researchers.

So for me, it still needs to be improved in the future in my opinion.

[crwth]

It's better to have your approach on it and use ChatGPT for learnings rather than to be used as a source of decisions. There will come a time when you are finding someone, or in this case, a thing, to blame for why you lost in a trade. It could be a better thing like learning and not for predictions because its data is not real-time and is not always accurate.

[Ucy]

I see a lot of people are using ChatG*PT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

It's possible to create one that learns from best traders/predictors or copy them. But this will be highly immoral if credit is not given to those it copies or learn from. I for example would never want such thing to copy or learn from me as I find it very untrustworthy and parasitic

[noormcs5]

I see a lot of people are using ChatGPT for various reasons and with that there are now so many videos how it can help it with writing trading scripts etc. Has someone tried it until now?

As per my little knowledge chatGPT can't be used for trading. ChatGPT can tell you about the history of different cryptocurrencies but it cannot predict the future.
Yes, you can say that it should predict the future based on the past data, but price of bitcoin and cryptocurrencies are highly volatile and this is a manipulative market which no AI can predict perfectly.

[freedomgo]

ChatGPT isn't a trading tool, it's simply just create a random paragraph from an article or someone thought, if you think ChatGPT is credible and you can trust your money with this bot, I have no words to say for you.

There are many people really want to make money quickly without doing anything, but most people are just stupid for believe anything about automatic tool or robot trading that they think it will work without any understanding behind the tool.

It’s like that every opportunity that comes, people will seize for it even if they end up believing that ChatGPT is a way to make money in trading. But the problem is they don’t even know what ChatGPT is all about and I think it’s never gonna work in trading as trading will never be fixed and will always follow an uncertain market. And since ChatGPT has it’s also limits too, though it’s goodly set for business and in other massive learning ideas, but when it comes to trading, i just think this chatbot is never enough to predict a successful trading.

[dothebeats]

I've tried it after reading your post to provide an example of what it says when asked about future predictions of cryptocurrencies, in my case, I asked it about the price of Bitcoin after a week from today, and here is what it said:

I tried asking something along the lines of your question and it returned me the same result. Honestly, props to the creators of ChatGPT because they don't try to milk the popularity of their AI. They are blunt with the limits of its technology and does educate the user as to why it's not advisable to let someone decide for your financial moves. There are some specialized AIs that can predict prices for stocks within the next few minutes, and an hour at most. They use this highly in stock trading and is constantly being updated to match with the current scenario in the stock market. Perhaps, if these AIs go public, people can use this and try whether what information it gives out is useful or not.

[justdimin]

I tried asking something along the lines of your question and it returned me the same result. Honestly, props to the creators of ChatGPT because they don't try to milk the popularity of their AI. They are blunt with the limits of its technology and does educate the user as to why it's not advisable to let someone decide for your financial moves. There are some specialized AIs that can predict prices for stocks within the next few minutes, and an hour at most. They use this highly in stock trading and is constantly being updated to match with the current scenario in the stock market. Perhaps, if these AIs go public, people can use this and try whether what information it gives out is useful or not.

That is both for their moral reasons I am sure, but it is also because of legal reasons. Can you imagine if chatgpt gave financial advice? That would mean that if you end up following what it says and you lose money, there is a good chance you could sue them and if they allowed such a feature that means millions may have done it and millions would sue. They wouldn't want a headache like that, I am certain that they wanted to just be okay with it and they just wanted to keep it going.

This way they would be able to get rid of any potential bad lawsuits coming their way. I am sure they also wanted to avoid that for moral reasons too, but that wasn't the first reason for sure, it was legal reasons first.

[Cryptomultiplier]

One hard thing to do is to make a decision. It is especially harder when it concerns financial investment or earnings. Trading is one sure activity that requires one to be very decisive and responsible for the decision. ChatGPT cannot help one make decisions to this effect.
Any computer or man made tool or tech which can provide answers to some questions we ask it now, is all but 'garbage in, garbage out. Those that can predict trends like for stocks, had the algorithm built into them. It just calculates based on the telementary of its algorithm with the figured it is provided with.
It is so much so that google, calculators, some social media sites provide stored answers; asking these tools to help one make a decision on future outcome of events, based on its result right now is absurd.