Topic: Is it true that this AI is good for trading? - page 7. (Read 1652 times)
The thing I hate about YouTube, is that most of the content there is usually click bait oriented! And if these guys are saying straight out of the box the AI bot will take good trades, I won't even bother to see if it's possible because I know it's all lies and these creators are trying to generate $$$ through views(revenue ads). But if someone from here says they were able to make profits not once but several times, I will be more than interested to see ChatGPT in action.
I don't know that there's an openAI that's dedicated to trading. I've known bots that will just help you to do your trades automatically by setting it first but it won't be the one that's going to do the whole thing of trading like giving decisions automatically if the market suddenly fell.
I believe that these AIs are just like guides but they can't predict the market and they can give some good thoughts of analysis but they're all based on facts and they can't really say what they think about trading on a highly volatile crypto market.
I believe that these AIs are just like guides but they can't predict the market and they can give some good thoughts of analysis but they're all based on facts and they can't really say what they think about trading on a highly volatile crypto market.
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
it seems that the development of AI is unstoppable, many people say this is a miracle for humans but many also say AI is a threat to humanity in the future, I myself don't trade very often but if I am forced to trade using AI as a guide, I won't use it, AI does have good analysis and probability but AI doesn't have human feelings.UPDATE
Sorry guys its actually OpenAI not ChatGPT
On the contrary, inside trading AI's capabilities not to feel any pressure can help to continue waiting for the price to reached your target, unlike with human feelings, fear is always the reason why you will lose your investment.
It will depend to how you see the potential and how will you maximize the full usages of AI, they are always going to depend
from how you set it up, still need human knowledge.
it seems that the development of AI is unstoppable, many people say this is a miracle for humans but many also say AI is a threat to humanity in the future, I myself don't trade very often but if I am forced to trade using AI as a guide, I won't use it, AI does have good analysis and probability but AI doesn't have human feelings.
Magic or a threat depending on how to use it. If Ai is used for negative things then there will be a threat that will occur or like a robot that is implanted by AI and develops so that it opposes the robot maker.AI is implemented in a trade and create a trading bot that will really help to make trading easier. There will be many options to choose from. AI is also a program and will run into a bit of trouble when there is no data to read, AI intelligence depends on how much data it manages.
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
it seems that the development of AI is unstoppable, many people say this is a miracle for humans but many also say AI is a threat to humanity in the future, I myself don't trade very often but if I am forced to trade using AI as a guide, I won't use it, AI does have good analysis and probability but AI doesn't have human feelings. UPDATE
Sorry guys its actually OpenAI not ChatGPT
I have not yet seen an AI that can predict, however it amuses me, because recently they wrote to me by telegram that if I wanted to invest to earn in the rises and falls of bitcoin, and that this was done by a machine, and that it was based in AI to make the movements, that really caught my attention, I can't deny it, but I know that I don't know to what extent these things have a high fidelity to do things well and not lose money, he told me that that's where you start with 50USD, but the truth is that I think that seto is a scam, and that the rest is a lie, I don't know what AI they are using and if what they do is really an AI.
Nothing like AI is good for trading, but you can use some to learn trading which is better by giving you the information needed to learn trading, but it is you that will trade yourself, the AI bot may even have told you how risky trading is and how you can lose. The bots that people said will trade for you will no help you later after it will result to losses. As for the people you saw on telegram, always avoid telegram, they are there just to scam you. the bots are programmed with historical data from the past that were successful, this is one of the problems of these bots, even being AI I still haven't seen great results from these bots, I could be wrong about that but from what I could see since years I still haven't seen effective bots and I would not use these bots, I prefer to trade using my own knowledge than being dependent on bots or other people
Yep, it would be basing up on those historical events and information which they would really be added up into the library but not something that you could fully rely on using it on future use or recent ones.(.....)
There are already trading bots that you need to configure based on analysis but I believe it's not enough.
It's very difficult to use AI when there is something financially related like trading, you may lose your money of some mistakes.
If you had an automated way to make money would you share that with anyone else? And we know the answer to that question, no one will share an AI like that and with good reason, and if anyone is interested on this field they have no other option but to make their own research on the topic as no one will share their results for free.
^ I don't think an AI alone will work for us in trading without our command as a human, traders should know this even automated bots need to have a proper setup to command. That is definitely right, it is not 100% guaranteed that you will make a profit, if so, I don't think even how expensive this AI will probably become more in demand in the market for all traders which is if you will bought it, expecting the result. It is still considering the crypto market price is unpredictable and no one can give accurate prediction all are based on the previous data of the market price which they believe repeat itself which I think that is impossible.
The AI we are talking about is not used to automate trading or to give signal, it is just as a tool that can be helpful in the trading learning process to give some information that can help someone to trade. There are different types of bots, but ChatGPT is a kind of bot that only helps in learning process by giving some helpful information. It can even be used beyond trading as it gives information which can be helpful.^ I don't think an AI alone will work for us in trading without our command as a human, traders should know this even automated bots need to have a proper setup to command. That is definitely right, it is not 100% guaranteed that you will make a profit, if so, I don't think even how expensive this AI will probably become more in demand in the market for all traders which is if you will bought it, expecting the result. It is still considering the crypto market price is unpredictable and no one can give accurate prediction all are based on the previous data of the market price which they believe repeat itself which I think that is impossible.
The AI we are talking about is not used to automate trading or to give signal, it is just as a tool that can be helpful in the trading learning process to give some information that can help someone to trade. There are different types of bots, but ChatGPT is a kind of bot that only helps in learning process by giving some helpful information. It can even be used beyond trading as it gives information which can be helpful. the bots are programmed with historical data from the past that were successful, this is one of the problems of these bots, even being AI I still haven't seen great results from these bots, I could be wrong about that but from what I could see since years I still haven't seen effective bots and I would not use these bots, I prefer to trade using my own knowledge than being dependent on bots or other people
Yep, it would be basing up on those historical events and information which they would really be added up into the library but not something that you could fully rely on using it on future use or recent ones.(.....)
There are already trading bots that you need to configure based on analysis but I believe it's not enough.
It's very difficult to use AI when there is something financially related like trading, you may lose your money of some mistakes.
For chat related things and asking questions this AI software is good but won't rely on such things when it comes to trading because my funds are at stake.It can answer your trading related queries for what information it retrieved from the backend or how it answer but these bots are still not useful in actual trading so it must be done with your own mind.
I'd see it was perfectly made for answering queries but if we talk about trading or those that are performing more on technical and market analysis, nothing could do it other than humans. Because these AIs are not programmed to become emotional, not programmed to analyze the market on their own but are created based on the history of the market and interact with what traders wanted to happen. Meaning, this stuff relies on the trader who uses it, and if we have no knowledge of trading definitely, it never works well. It can go really bad if you are too emotional. AI's doesn't have an emotion but isn't it great to be use in trading? However it's not ChatGPT rather they can be trading bots and something similar which are specifically built for it.
Looks like a clickbait really. None of that feels very true to be implemented. Even normal trading bots are not doing any good to the traders plus there is always issues with setting up the proper codes and logic flow to them. As mk4 said how can I chatbot would be beneficial for the trading? Those YouTube videos are not worth watching if they are claiming it that way. It is just "trendy keyword" and nothing much. You are getting into it because you are getting pulled based on your search history. These kind of YouTube channels are just made with the intentions of making money by views and nothing more.
Better keep up with the normal bots which are also not 100% reliable or just learn the trading skill set!
Better keep up with the normal bots which are also not 100% reliable or just learn the trading skill set!
For chat related things and asking questions this AI software is good but won't rely on such things when it comes to trading because my funds are at stake.It can answer your trading related queries for what information it retrieved from the backend or how it answer but these bots are still not useful in actual trading so it must be done with your own mind.
I'd see it was perfectly made for answering queries but if we talk about trading or those that are performing more on technical and market analysis, nothing could do it other than humans. Because these AIs are not programmed to become emotional, not programmed to analyze the market on their own but are created based on the history of the market and interact with what traders wanted to happen. Meaning, this stuff relies on the trader who uses it, and if we have no knowledge of trading definitely, it never works well. Exactly, the point here is AI still needs human knowledge. Those who are using it and manifesting from bot are people who already gained enough knowledge to configure the settings that they wanted to execute.
The good thing with bot, unlike human the emotions when fears dominate you'll be forced to react
in unnecessary actions, placing your investment in a big risk, while with bot it will let you pass
the market situation without doing anything.
ChatGPT is a powerful Al tool for content creation and easy learning tool in any field by responding to prompt inputted by users. This Ai tool is powerful for answering questions on how to trade but when it comes to making trade predictions this tool will never get accurate. Its prediction will be based on past data and what happens when the data get outdated. The only aspect ChatGPT will help in trading is by giving better learning ideas as compared to other search engines
For chat related things and asking questions this AI software is good but won't rely on such things when it comes to trading because my funds are at stake.It can answer your trading related queries for what information it retrieved from the backend or how it answer but these bots are still not useful in actual trading so it must be done with your own mind.
I'd see it was perfectly made for answering queries but if we talk about trading or those that are performing more on technical and market analysis, nothing could do it other than humans. Because these AIs are not programmed to become emotional, not programmed to analyze the market on their own but are created based on the history of the market and interact with what traders wanted to happen. Meaning, this stuff relies on the trader who uses it, and if we have no knowledge of trading definitely, it never works well. 
For chat related things and asking questions this AI software is good but won't rely on such things when it comes to trading because my funds are at stake.It can answer your trading related queries for what information it retrieved from the backend or how it answer but these bots are still not useful in actual trading so it must be done with your own mind.
I haven't used it before but in general I think it's like bots and I don't like bots, maybe there are some good ones but for me I tried many of them and I didn't get the results I wanted.
But in any case, you need trading skills in order to know how to program the AI system well to give you the best results and get good profits. If you do not know the basics of trading, you cannot benefit from it.
Simply AI system or bot does not do everything for you, it just does what you command it to do.
But in any case, you need trading skills in order to know how to program the AI system well to give you the best results and get good profits. If you do not know the basics of trading, you cannot benefit from it.
Simply AI system or bot does not do everything for you, it just does what you command it to do.
Not sure what you've head/read, but ChatGPT is just a chatbot(a good one, to say the least) — how will a chatbot exactly be good or bad as for helping a person with his/her trading? It's not like a chatbot can predict the future.
There’s no guarantee that this ChatGPT will help us make successful trades in the process, as they are obviously good in some reasons but not reliable enough when it comes to correct predictions. And besides, trading in the market do not come with fixed results as there are always uncertainties like factors that suddenly arise when you’re in the middle of trading. Just imagine even a human mind cannot actually create or predict a good outcome, so how much more on a chatbot wherein it has no real senses but only processed information being inserted. Nah. I do not think so. Some things in trading requires more than calculations. It requires gut, instinct and conviction.
Do intelligent machines have these? I guess not. Infact, I feel that the number of people who incorporate AI in their trading are very few. I also feel that most veteran traders will not be comfortable with artificial intelligence doing the trading for them.
Probably most of the trading strategy are with those AI but I think its too risky to depend on this. Imaging, if there’s a good AI for trading then everyone will make profit, and that is not healthy anymore. In trading someone will always lose and win, we can’t everyone win because this is how the market works. The result will always depend on our own analysis and if you didn’t make any good analysis, don’t expect to make profit at all. Do intelligent machines have these? I guess not. Infact, I feel that the number of people who incorporate AI in their trading are very few. I also feel that most veteran traders will not be comfortable with artificial intelligence doing the trading for them.
I don't think somthing known for everyone is a good thing to make profit from trading, we already know that exchanges and big whales don't trade personally, they have their own bots and programs that opposite your trading, so as long as these entities capable of reaching the same information as the normal trader, they will trade against them. However, for longer term expectations, it may work better.
Yes, we'd expect better results from using advanced technology like AI to make trading easier but I see the real advantage to the trader if they actually do it, not by relying on robots. Of course, we can say that these things don't have emotion so they can perform well in critical situations but if we wanted to gain more experience and learn, this is not the best option to take either. For now, it was still a quest in which AI or bots are performing well. It can be interesting in other ways but for now, doubts are still there.
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