Can you earn 500% by trading stocks with chatgpt?
According to media statistics, nearly 25,000 investors have used ch at GPT to participate in an experimental project initiated by the copy trading platform Autopilot. In total, these traders bet $4.7 million, or about $104 million, on AI stock picking, with an average of nearly $600 each. Although the cost is small, they may hope that the ch at GPT stock selection will bring a high return of 500%.
Recently, it was reported that investors analyzed more than 10,000 news articles and 100 company research reports through GPT, selected 20 stocks for a $50,000 portfolio under management, and updated weekly. The initial stock picks for the portfolio, which included Berkshire, Hathaway, Amazon Drive, Horton and Davita Health, were up about 2% two weeks later, essentially in line with the broader market.
Interestingly, on a percentage basis, the top five worst-performing performers in the portfolio fell more than the top-performing top five. Does this mean that if investors want to follow GPT4 investments, it is better to choose 5-10 targets? There is also a small cryptocurrency investment account called ch at GPT Crypto that can enjoy Trader. The account, which normally gets advice from GPT 4, has decided to verify the long position, and the account is said to have a retroactive yield of up to 11,000%.
The practice goes back to August 2017, and since January 2021, the account has actually risen by 1/3, but the Thai side has risen by 60% during the same period. This suggests that investors need to be cautious about using AI in their transactions. Recently, digital currency derivatives trading platform Biggate abandoned experiments using AI. Because a survey showed that 80% of users encountered false suggestions and other types of misinformation.
In fact, while AI tools are smart and powerful, they lack the human intelligence needed to understand the subtle differences and trends in the market. Therefore, investors should be cautious about using AI tools to trade. However, some researchers have recently chosen CHAT GPT to study issues related to financial markets, and have published two academic papers. The two papers examine, respectively, the question of whether the Fed's statement is British or Song, and determine whether headlines have a positive or bearish effect on a stock.
Preliminary results suggest that chatGPT is performing quite well, which could be a big step forward in the conversion of trading signals using AI technology. Previous Wall Street quantitative analysts have used language models to process company earnings, synthesize the company's latest headlines to analyze posts on Reddit, measure the popularity of stocks on Twitter, and more.
But the latest academic research shows that GPT has reached a new level in parsing context, speeding up reading and helping more financial professionals access relevant information.
In short, the progress of AI technology still needs more practice and exploration to be gradually confirmed. Investors should remain cautious and flexibly apply AI tools to trade in a more rational and realistic situation.
