Has someone tried to use ChatGPT to help in trading? - page 2.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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

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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.

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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.

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Quote from: eaLiTy on January 28, 2023, 01:25:45 PM

Quote from: Russlenat on January 27, 2023, 11:59:31 PM

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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.

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Quote from: Russlenat on January 27, 2023, 11:59:31 PM

~
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.

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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

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Quote from: m2017 on January 28, 2023, 11:55:53 AM

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.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

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Quote from: Mr. Magkaisa on January 28, 2023, 03:02:29 AM

Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

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Quote from: Mr. Magkaisa on January 28, 2023, 03:02:29 AM

Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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.

Alone055

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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:

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Quote from: Jawhead999 on January 25, 2023, 07:45:49 AM

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.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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 have not tried it for trading purposes but I see it’s more useful in gaining datas and insights when it comes to my other online job that have got to do with language skills. However, with trading, I don’t see ChatGPT will be working as I’m always more dependent on my own expertise. With my long years in trading, my experiences are my sole basis so I can end up trading more profitably.

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Quote from: nimogsm on January 25, 2023, 07:17:41 AM

As far as I know,it is designed for other tasks,but what you offer is quite possible,but not as an automatic robot.Most likely it will be some basics and nothing more,two examples of robots that work on artificial intelligence were thrown off in the topic above and you can study the results of their work.An ordinary trader will simply not need such a robot because it will not facilitate but only complicate the already simple processes.

ChatGPT may be useful in some other purposes, but not in the field of trading. Although it’s now trending in social media that it can create working strategies in trading, but I doubt if it’s really working after all. Yes, it can be a little of help but in the long run it’s your knowledge and working strategies that will make your trading successful and profitable, and not some datas inserted in the AI machine.

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I don't think ChatGPT will help that much in creating new trading algorithms. It's good for casual conversations just to kill time, but ordering it to write code for you will be a hard task and I don't think developers even implemented that feature on the bot. It will not even help you predict basic things in the future, so right now it's best to not rely on this bot to anything related to your finances and investments.

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Quote from: JooBra on January 24, 2023, 01:38:10 PM

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?

Trading scripts like making a trading bot for themselves?

I haven't thought of that but I know that chatgpt is really suggesting and giving codes if you ask it to write for a script for specific programming language.

I have an idea but I wouldn't still rely on it if I try to make one, maybe just a reference but not entirely going to be reliant on it.

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