Topic: Is it true that this AI is good for trading? - page 5. (Read 1639 times)
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.
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?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? 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 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.
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.
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 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.
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.
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
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.
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.
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?
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.
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.
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.
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
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.
AI uses the same patterns it can find in a past. If lots of traders will start using AI it will be a great idea for manipulators to investigate the same patterns with AI as others but do just the opposite to ruin the strategy of naive traders trusted AI too much. Market is a place where win-win strategy is hardly achieved so mostly any time there will be as winners as losers. Trusting some known tool entirely usually will lead to defeat. Of course, we'll see, but I don't have expectations that AI will replace traders, it will be just another tool for them IMO.
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.
I haven't personally experienced the goodness, but many people have begun to use it for trading. Even we do trading based on the particular assets past performance and the ongoing demand. When it comes to AI, it involves in precise data gathering and takes decision accordingly. However in some situation AI can't be same as human minds think. And with cryptocurrency unpredictable market changes happen and at that time how AI works is questionable.
AI uses the same patterns it can find in a past. If lots of traders will start using AI it will be a great idea for manipulators to investigate the same patterns with AI as others but do just the opposite to ruin the strategy of naive traders trusted AI too much. Market is a place where win-win strategy is hardly achieved so mostly any time there will be as winners as losers. Trusting some known tool entirely usually will lead to defeat. Of course, we'll see, but I don't have expectations that AI will replace traders, it will be just another tool for them IMO.
if you think technical analysis is everything then I guess it's true that AI might be good tool for trading but the thing is the implementation, how you can make your AI read your trading chart in real time.
I think AI nowadays in general are still lackluster piece of technology you should wait until newer version arrives with larger data for training then you will get better AI that might suits your need like for trading and investing, I'd say eventually these AI will be integrated in many of the exchanges feature if one of them start bringing this AI to their system it will become like a competition. but surely this wouldn't be happening until few iterations of AI technology.
I think AI nowadays in general are still lackluster piece of technology you should wait until newer version arrives with larger data for training then you will get better AI that might suits your need like for trading and investing, I'd say eventually these AI will be integrated in many of the exchanges feature if one of them start bringing this AI to their system it will become like a competition. but surely this wouldn't be happening until few iterations of AI technology.
I haven't personally experienced the goodness, but many people have begun to use it for trading. Even we do trading based on the particular assets past performance and the ongoing demand. When it comes to AI, it involves in precise data gathering and takes decision accordingly. However in some situation AI can't be same as human minds think. And with cryptocurrency unpredictable market changes happen and at that time how AI works is questionable.
Trading is another story and a huge task that an AI can make which is actually out of its design as Chat Bot. I'd never use chatGPT personally but one of my friends tells me how good it is when comes to chat messages, answering questions, and word compositions. It is really amazing to think huh, but I might think that it was really intended for that area, not on trading or in general works. Maybe in the future, the developers will make that programs but still, I'm not sure how good it was when it comes to decisions like normal people can do.
As a trader, I feel y'all might be doubtful about employing AI for trading decisions. But let me tell ya, AI can be a mightly tool to help traders make some brilliant decisions. Even though AI ain't got no emotions or gut feelings like us, it can scrutinize data much quickr and more accurately than we can. AI has the knack to detect patterns and trends that might be slipery for a human trader to catch. But heres the deal, AI is just a tool, not a replacment for human wisdom. We still need to have our heads wrapped around the markets and an astute trading strateggy in place. AI can be a valuable accomplice for making better-informed decisions, but we can't rely on it completley. My personal experience dictats that fuzing AI with human analysis and intution can lead to grandiose trading outcoms. For instance, I use an AI-powered trading platform that gives me real-time market data and analytics, which I then merge into my trading decisions.But I highly doubt that that does also count for the average trader who gets some software on the free market for a few hundred bucks. The first bots that have been coded for crypto markets might have been successful, but I think by now you are mostly competing with highly developed software from financially strong companies. That is surely the case if you trade on the big registered crypto exchanges.
I have been around for quite some time and it did surprise me often times when people told me they bought some trading software from some random dude on the forum. It usually doesn't work as nobody would give away a software that is almost guaranteed to make some money. Now that the markets got so huge it is full of big businesses who are able to hire the best coders, or probably you are already competing with bots from Google and Facebook who have all the data in the world to build AI-based trading software.
This is why I think that it's wrong to say that "a trader", like anyone who is a trader could make use of it and benefit from it. For most people I am convinced that long-term investment strategies, or let's say longer term investment strategies are the better choice.
Trading is another story and a huge task that an AI can make which is actually out of its design as Chat Bot. I'd never use chatGPT personally but one of my friends tells me how good it is when comes to chat messages, answering questions, and word compositions. It is really amazing to think huh, but I might think that it was really intended for that area, not on trading or in general works. Maybe in the future, the developers will make that programs but still, I'm not sure how good it was when it comes to decisions like normal people can do.
As a trader, I feel y'all might be doubtful about employing AI for trading decisions. But let me tell ya, AI can be a mightly tool to help traders make some brilliant decisions. Even though AI ain't got no emotions or gut feelings like us, it can scrutinize data much quickr and more accurately than we can. AI has the knack to detect patterns and trends that might be slipery for a human trader to catch. But heres the deal, AI is just a tool, not a replacment for human wisdom. We still need to have our heads wrapped around the markets and an astute trading strateggy in place. AI can be a valuable accomplice for making better-informed decisions, but we can't rely on it completley. My personal experience dictats that fuzing AI with human analysis and intution can lead to grandiose trading outcoms. For instance, I use an AI-powered trading platform that gives me real-time market data and analytics, which I then merge into my trading decisions.Trading is another story and a huge task that an AI can make which is actually out of its design as Chat Bot. I'd never use chatGPT personally but one of my friends tells me how good it is when comes to chat messages, answering questions, and word compositions. It is really amazing to think huh, but I might think that it was really intended for that area, not on trading or in general works. Maybe in the future, the developers will make that programs but still, I'm not sure how good it was when it comes to decisions like normal people can do.
It is just there to answer your question and won't do anything at all, so it is still up to you how you use it. I think it was just helpful for you to gather data regarding the history of the prices of the current crypto you are trading, and it can also give you knowledge on how to tweak your strategy. It is good for researching which it just answers you immediately on what it can see, which is very fast, rather than checking those websites one by one in Google.
UPDATE
its actually OpenAI not ChatGPT
OpenAI created ChatGPT.
I haven't tried it and have no intention to. Even if it were to get trading/predicting capability, it would be just like other countless bots available in market. Trading strategies coded into product. You know how well they work.
you would never know unless you tested it yourself, AI still have some inaccuracy and just imagine it having some mistake while handling your money it could quite literally make your investments vanish just like that.
so I'd still refrain from using AI for making financial decision, it's always good to make the decision by yourself.
the only thing that could give you edge in using AI is the fact that it could reads the chart and compares it with textbook chart guides, that way maybe you might have some insight towards the market from the technical analysis.
other wise there's nothing really stand out from using AI.
maybe in the future once there's someone that develops better integration with AI then that might be the right time for you using it for trading.
so I'd still refrain from using AI for making financial decision, it's always good to make the decision by yourself.
the only thing that could give you edge in using AI is the fact that it could reads the chart and compares it with textbook chart guides, that way maybe you might have some insight towards the market from the technical analysis.
other wise there's nothing really stand out from using AI.
maybe in the future once there's someone that develops better integration with AI then that might be the right time for you using it for trading.
If technical analysis worked in 100% cases then we probably could say if AI will work (may be not today, but in theory) even before using it. Because AI doesn't make anything new, it makes something like it was done before. So right you are, it can be a very useful tool for modelling of different scenarios which you can learn by yourself later, but it will hardly work good for trading by itself, without a control. IMO it is not much more revolutionary than nowadays bots and will hardly become so in the near future.
you would never know unless you tested it yourself, AI still have some inaccuracy and just imagine it having some mistake while handling your money it could quite literally make your investments vanish just like that.
so I'd still refrain from using AI for making financial decision, it's always good to make the decision by yourself.
the only thing that could give you edge in using AI is the fact that it could reads the chart and compares it with textbook chart guides, that way maybe you might have some insight towards the market from the technical analysis.
other wise there's nothing really stand out from using AI.
maybe in the future once there's someone that develops better integration with AI then that might be the right time for you using it for trading.
so I'd still refrain from using AI for making financial decision, it's always good to make the decision by yourself.
the only thing that could give you edge in using AI is the fact that it could reads the chart and compares it with textbook chart guides, that way maybe you might have some insight towards the market from the technical analysis.
other wise there's nothing really stand out from using AI.
maybe in the future once there's someone that develops better integration with AI then that might be the right time for you using it for trading.
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