Very much resonate to this notion. Trading is the result of it but not where needs study. It's the innate relations that drives the movement. With the insights you would be able to predicate, doesn't matter long term or short term or however the alpha there is. The question is, how can AI help it. Based on what we know about chatgpt today, it can digest news, it can interpret text, it can handle reasoning to some extent (must be careful with it), it can certainly help with coding if coding is needed to automate certain things but this is pretty much it. One maybe able to train the LLM specifically for financial market, but that's not for average Joe as the pre-training takes deep pocket that I'm sure big institutes are already exercising.It's worth noting it's the deep pocket made the AI breakthrough possible, not the algorithm or sciences. So anything worth discussing here must be outside the box. Perhaps an external graph database that interacts with chatgpt would suffice our needs. That'd be an interesting pursuit. Apparently it doesn't limit to trading as after all financial market is only a manifest of the world and society, some may refer it the financial universe so to speak.
Agree with you. I have been playing with chatGPT for a while, it gave good generic text book answers. Anything more specific it didn't know and often made up fake answers. Asked it to generate VBA Excel programs, it did quickly but many didn't work some outright wrong. However, for general education, to understand the basic terms, conditions, etc. it is a very good teacher.
It's not that the bot is wrong but rather it's basing it's answers on criteria that is not relevant. I had the same experience, the API of something had changed and all the answers were useless. Remember, the answers are only as good as the stuff you can find in your search engine. There is no magic involved.
No, it actually gave me fake answers. One of my interest is trading options on clinical stage biotech stocks. In one query I asked it to give me medical journal publications and clinical trials information, so it gave me a list. I googled and couldn't find any of them on Google or Bing. But I am not unhappy and won't stop checking it out, because I got a lot of useful information I simply couldn't find from Google search. Trust but verify.
I am going to ask chatGPT to teach me how to trade butterfly. I hope it won't speak in parables, like some experts here. I will report back on what it tells me.
Most of you already know the answer: No secret source provided by chatGPT. Gave me generic text book answers. One positive, it explained in layperson's language, the intricate terms some of you folks used.