Re: How can you use ChatGPT for day trading

I have been seeing this in many places recently, including the news.

Not only that but also I saw some ads that writes 'let AI trade for you'. Have you been seen something like this? If you are a trader, you might noticed it also.

Just be careful, AI bots can be helpful but they are not excellent and they can result to huge loss if care is not taken.

First, ChatGPT is a multi-purpose AI, which means it will only make efforts to answer all your questions, but it is not specifically designed for all purposes. And if the bots/AIs designed for trading are still challenging, how much more is ChaGPT that wasn't designed for it?

In my experience with the AI, it merely analyse the historical data it could gather (technically and fundamentally) to issue trading advice, but in the end, it is more confusing than specific. So I stay neutral.

I'm in the line of thought as you, I haven't really seen a way better approach or helpful method of using ChatGPT totrade that is risk free over the long run and that will stand the test of time considering the changing market dynamics, wars, economic policies, geographical tensions, and great pandemic such as the covid-19, that willing be differently from the normal market analysis we normally do using some historical data or information.

You have a point, but aside from that, there are still some AIs, but I like to call them "bots" that are specifically trained to trade. These are more sophisticated in that area than the ChatGBP, which can be used for multiple tasks. ChatGPT is not specialised in that area, but will only process some historical data. But the market is too dynamic for that.

Those specialised bots I referred to have tried many times, but always fail. How much more is ChatGPT? The market is too dynamic and confusing for any holy grail AI. While those that didn't fail will hardly give you something tangible to celebrate for over a year. That is the issue.