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Trading With ChatGPT: How to Make Money Using AI



The moment a new technology evolves, there immediately appear those dreaming to apply it to trading on stock markets, speculating with Forex, etc. Profitable trading is a matter of skill, information, and, to some extent, luck. So, can artificial intelligence (AI) beat human’s at some point? Is ChatGPT that very AI and how can one use it for growing trading profits? Discussing further in our fresh reading.
 



There also Colorize, DALL-E 2, Midjourney, and Stable Diffusion, but ChatGPT made the most buzz of them all. It is a generative AI language program that uses machine learning to answer questions, give information, and build conversation. The code is based on Generative Pre-training Transformer (GPT, hence the name) architecture, which is able to analyze and self-learn from a massive dataset of human-generated answers.

Traders here and there are spamming all over the www, boasting tens of thousands of dollars in profits, earned from trading strategies, offered by ChatGPT, and/or with the help of its bots. To want extent is this sensational news true?

Well, let’s first name what such programmes are really advantageous at:

  • perfect machines for answering basic questions;
  • can flexibly tune to the collocutor and his/her requests;
  • able to analyze huge volumes of data and built decent models, based on that.

In application to trading, here is how ChatGPT & Co can be of use:

  • Advance fundamental analysis: checking and sorting thousands of news articles, media posts, etc. will take several seconds instead of hours of your own search;
  • Upgrade sentiment analysis: a humanly-trained AI is far more able to identify future tendencies in social behavior than a single ‘alive’ person;
  • Master technical analysis: any possible indicator is at your service, with an explanation attached.

So, better-collected data and better interpretation mean better trading decisions (meanwhile, the machine is always eager to provide a disclaimer before any market-related answer).

But there are always drawbacks: just like with any AI, its algorithms suffer from bugs in coding, overreliance on unbacked models, and interpretability is limited due to unclear outputs. Last not least, ChatGPT is not an actual trader.

So, AI can still not be called a universal answer to all questions. After all, if it is learning from humans, why not address real human expertise in the end?

One of the sources of such expertise is GC Invest: a service by Grand Capital broker, where investors meet traders and cooperate on a mutually beneficial basis. The former connect their accounts to successful trading strategies and earn without risk or market knowledge, and the latter get a share of profits and multiply their wealth even more.

Human expertise wins (for now). Choose, whether you want to be an investor or a manager and connect to the service. Our Support can guide you on every step in your Private Office, in the online chat (bottom right corner of the website), or at support@grandcapital.net.

 

Penulis: GC
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