ChatGPT and Trading

[hack3rcon]

Hello,
Has anyone used ChatGPT for trading?


Thank you so much.

[mk4]

Make it a habit of looking around or using Google before asking.


Topic: Has someone tried to use ChatGPT to help in trading? https://bitcointalk.org/index.php?topic=5436643.0
Topic: Is it true that this AI is good for trading? https://bitcointalk.org/index.php?topic=5432725.0

[Oshosondy]

Just know that ChatGPT is useful to learn how to trade, telling you the risk and how the market can be so unpredictable. You can use it to learn indicators, some strategies and how to manage your risk, but ChatGPT can not trade for you.

[WatChe]

Just know that ChatGPT is useful to learn how to trade, telling you the risk and how the market can be so unpredictable. You can use it to learn indicators, some strategies and how to manage your risk, but ChatGPT can not trade for you.

I havent encountered any tool till date that can replace human brain (correct me if I am wrong). If tools can make you rich then everyone would be running after these tools. Tools can only assist you a bit but final decision must come from your own mind. Its also very unfortunante to see how people are using new inventions like ChatGPT, students are using it to write essay for them while some canidates are using it to pass interview questions etc. Such tools should only be used as secondary source of info primary must be your own mind.

[logfiles]

Hello,
Has anyone used ChatGPT for trading?

It's called "ChatGPT", yep... Did you see the word Chat?

It's a chatbot, not a trading bot. It being an AI chatbot does not mean it should make trade decisions for you… lol. Forget about it.
If you want to learn about trading, then it might help you with some theory and that is it.

[iv4n]

Hello,
Has anyone used ChatGPT for trading?


Thank you so much.

In the past few weeks, I saw "ChatGPT predicting the price of some coin (BTC, Shiba, Ethereum...)" news in my google feed. To be honest, I didn't bother to read it or check whether these predictions are correct. When there are headlines and articles about it I guess some people are already using ChatGPT tips for trading, but I am not sure how accurate those predictions are... I tried to find some stats about it, but nobody published anything about it yet.

[inthelongrun]

So instead of asking the people in this forum, why not ask ChatGPT itself?  ChatGPT is not a fortune teller that predicts the future on speculative kinds of stuff like the future price of bitcoin or who wins a fight between Tyson Fury and Oleksandr Usyk.

But in the near future, it may give limited answers but based only on specific indicators. For example, ChatGPT in the future might answer your question on the bitcoin price trends in the next few days based on Fibonacci and other trading indicators you mentioned in the question. That would be very cool as it saves us time and effort while freeing us from possible human errors.

[Captain Corporate]

Risking the law to get involved is an issue, we are already very very underlawed regarding AI stuff, there are not enough laws regarding this issue, if you start adding more stuff into this then its going to be harder. I can tell you that there has been a few attempts by the "trading bot" community to build AI related stuff, basically machine learning and it hasn't been that awesome. I used to sell Gunbot and it did exactly what you tell it to do, which is great if you are a good trader, if you are a moron like me then its a useless product, and they worked on AI for a while too, meaning machine learning, yet it didn't really made it that much better to be fair.

[doomloop]

Hello,
Has anyone used ChatGPT for trading?


Thank you so much.

ChatGPT can't access markets or make searches based on the prompts provided, but it generates answers based on the data that has been fed to it and for predicting prices or doing similar things, it will require the most recent data, otherwise it may predict with errors so that would be a totally wrong prediction since it would be based on outdated data.

Recently I tried to interact with chatGPT by asking few cryptocurrency market and gold market data but I got replies which were saying like, chatGPT was designed for 'text' purposes alone and not for predicting the future.

[Maus0728]

ChatGPT is limited in what it can accomplish, particularly if you are unaware of what you are doing.

Obviously, ChatGPT can't help you predict the next price action of a particular coin/asset because, in the first place; NOBODY DOES. If there's one thing an A.I. can help you, it's by asking for a script that you can use to automate your trading based on your strategy. And you can only do so if you are proficient in programming, have a trading strategy in place, and know how to trade.

Trust me, that chatbot is pretty good in providing source code that only needs a few tweaks based on your liking.

[Oshosondy]

I havent encountered any tool till date that can replace human brain (correct me if I am wrong). If tools can make you rich then everyone would be running after these tools. Tools can only assist you a bit but final decision must come from your own mind. Its also very unfortunante to see how people are using new inventions like ChatGPT, students are using it to write essay for them while some canidates are using it to pass interview questions etc. Such tools should only be used as secondary source of info primary must be your own mind.

You are right, no tools that will do it for humans, we have to make the decision ourselves and if we are good we are going to make money than lose in trading.

ChatGPT is an helpful bot, I was even surprised recently that Electrum developer used it to write some codes in this recent version that was released recently. It can helps in may areas of life, even in learning trading just like I said before.

[fuguebtc]

Just know that ChatGPT is useful to learn how to trade, telling you the risk and how the market can be so unpredictable. You can use it to learn indicators, some strategies and how to manage your risk, but ChatGPT can not trade for you.

I havent encountered any tool till date that can replace human brain (correct me if I am wrong). If tools can make you rich then everyone would be running after these tools. Tools can only assist you a bit but final decision must come from your own mind. Its also very unfortunante to see how people are using new inventions like ChatGPT, students are using it to write essay for them while some canidates are using it to pass interview questions etc. Such tools should only be used as secondary source of info primary must be your own mind.

After all, they are just human-made products and operate mechanically, their intelligence is created and updated by us so they can never surpass humans. If they could be used to replace people, perhaps their inventors would have become rich without having to sell them for our use. Whether it's ChatGPT or any other AI, it only aids and helps us get more information, it can't replace us. It's strange that people believe in an AI that operates machines, and don't believe in their own abilities.

[ningrum]

I havent encountered any tool till date that can replace human brain (correct me if I am wrong). If tools can make you rich then everyone would be running after these tools. Tools can only assist you a bit but final decision must come from your own mind. Its also very unfortunante to see how people are using new inventions like ChatGPT, students are using it to write essay for them while some canidates are using it to pass interview questions etc. Such tools should only be used as secondary source of info primary must be your own mind.

You are right, no tools that will do it for humans, we have to make the decision ourselves and if we are good we are going to make money than lose in trading.

ChatGPT is an helpful bot, I was even surprised recently that Electrum developer used it to write some codes in this recent version that was released recently. It can helps in may areas of life, even in learning trading just like I said before.

Obviously if we really want to learn the human brain is much smarter and more sophisticated than tools,
in trading we have to keep learning knowledge and skills which if we don't have it I don't think we can survive in trading,
related to ChatGPT it is indeed very helpful and useful but if we continue to use it it will not make us develop.

[Accounts Seller]

Hello,
Has anyone used ChatGPT for trading?

It's called "ChatGPT", yep... Did you see the word Chat?

It's a chatbot, not a trading bot. It being an AI chatbot does not mean it should make trade decisions for you… lol. Forget about it.
If you want to learn about trading, then it might help you with some theory and that is it.

Great thank you

[logfiles]

Great thank you

Not taken. Now, can you log into your other alt account and thank me? 

You shouldn't be scared, it's no crime having miltiple accounts in this forum after all

[uneng]

ChatGPT AI lets it very clear it can't predict future events or give any financial advices, therefore it can't be used as a trading tool or trading bot. As I see it's just a very technological and modern opened encyclopedia where people can have access to theoretical neutral definitions and informations about almost everything in the known universe. I don't know from where people came with this idea of using ChatGPT for trading, but it's a funny assumption.

[tbct_mt2]

ChatGPT AI lets it very clear it can't predict future events or give any financial advices, therefore it can't be used as a trading tool or trading bot.

Anyone here are using ChatGPT can share what it gives you if you ask questions like "How to trade successfully and get profit?"

If its answer does not include a part to protect your initial capital as a first and most important thing, it is missing a vital point and its advice is not good enough. To trade successfully, you must have the ability to protect your initial capital. If you can not, you will lose your initial capital and what is more terrible than losing most or all of your capital for a trader?

No capital, no trade, not success or failure after that.

[uneng]

ChatGPT AI lets it very clear it can't predict future events or give any financial advices, therefore it can't be used as a trading tool or trading bot.

Anyone here are using ChatGPT can share what it gives you if you ask questions like "How to trade successfully and get profit?"

If its answer does not include a part to protect your initial capital as a first and most important thing, it is missing a vital point and its advice is not good enough. To trade successfully, you must have the ability to protect your initial capital. If you can not, you will lose your initial capital and what is more terrible than losing most or all of your capital for a trader?

No capital, no trade, not success or failure after that.

I think the answers are pretty solid:



In the end it's stated that investors should only trade with money they can afford to lose, due to the risks this activity involves. When we are trading, there is no way to assure the initial capital is safe, unless we don't use it for trading.

[electronicash]

Hello,
Has anyone used ChatGPT for trading?

It's called "ChatGPT", yep... Did you see the word Chat?

It's a chatbot, not a trading bot. It being an AI chatbot does not mean it should make trade decisions for you… lol. Forget about it.
If you want to learn about trading, then it might help you with some theory and that is it.

lol this alone will really wake him. i don't also get it why a bot that will reply som,e accurate information on whatever we ask can actually be used for trading as OP thought so. 

what i've read was that it can write codes which if it can, a person may be able to request to write a trading bot for the most effective trading system it knew and can be integrated into his tradingview account. it will be cool to hear some success stories about it if there are.

[WatChe]

You are right, no tools that will do it for humans, we have to make the decision ourselves and if we are good we are going to make money than lose in trading.

ChatGPT is an helpful bot, I was even surprised recently that Electrum developer used it to write some codes in this recent version that was released recently. It can helps in may areas of life, even in learning trading just like I said before.

There are counter measures coming to tackle ChatGPT, like apps are coming that can check whether school essay is written by AI powered ChatGPT or not.
Rather training ChatGPT algorithms we must train our own minds in making trading decisions. If we make decisions from our brain then either we win or learn something new. Making decisions on our own will take time but it will be worthy in the long run.