Hello, fellow traders!
I’m excited to introduce a revolutionary development in the world of Forex trading – the integration of AI, specifically, OpenAI’s ChatGPT, into our trading strategies.
As many of you know, trading involves a lot of analysis, quick decision-making, and keeping up with ever-changing market trends. Imagine having a tool that could assist with these tasks, making your trading experience more efficient and potentially more profitable.
Enter ChatGPT, a language model developed by OpenAI. This AI-powered tool can assist with a range of tasks, from generating market analysis to assisting in formulating trading strategies, and much more.
Sounds intriguing? Let me share a few key areas where ChatGPT could revolutionize our trading practices:
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Market Analysis: ChatGPT can generate analysis based on the data and guidelines provided, enabling us to make informed decisions quickly.
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Formulating Strategies: With its learning capabilities, ChatGPT can help develop effective trading strategies based on patterns it identifies in the data.
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Constant Assistance: As an AI model, ChatGPT can work around the clock, ensuring you’re up to date with the latest market changes, even when you’re not actively trading.
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Learning and Growth: ChatGPT can serve as an interactive learning tool, helping beginners understand the intricacies of Forex trading.
The potential for AI in Forex trading is huge, and I invite you all to join the conversation about these exciting developments.
To learn more about how to utilize ChatGPT in Forex trading, head over to my blog, AI Explorations Beyond, where I delve into this topic in more detail. I’d love to hear your thoughts, ideas, and experiences in this thread.
Let’s embrace the future of Forex trading together!
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I’m not sure that the answer to the poor performances of new private retail traders is yet more strategies.
moving average
RSI
MACD
parabolic SAR
I can imagine the year each of these indicators came out. Everyone thought, ¨yeah, this is what I need!!¨
Again and again.
Now, we can add ChaptGPT to the list.
I’m not a consistently profitable trader yet, but based on my experience so far, it seems that looking for more and more indicators is not the best solution. In my case, my S/R bounce strategy works, but the problem is me. using ChatGPT wouldn’t make me a better trader.
If it helps someone,good for them. But, I want to be a better trader and improve myself along the way. Using ChatGPT could help me make money, but I’d be missing out on the most important element of the journey: the personal growth.
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Dont tell me we’re going to start having spam in babypips…
Hi kv2323,
Thank you for posting the links to the Amazon book about combining MT4 and ChatGPT. The latter is a subject in which I have recently taken a keen interest. At this stage, I consider myself to have just moved from pre-kindergarten to kindergarten. My interest in this tool started in late 2022, and I have only just done a retrospective review of approximately how much time I have spent on the subject, and how I started with no particular goals, objectives, strategies or plans in place. Unusual for me, as many established BabyPips members will attest to 
Last night I created my first meaningful article of 1,200 words on a subject matter that is close to my heart in recent months, and a topic that is definitely NOT within my area of expertise. I have chosen to exclude Forex trading from my current explorations with ChatGPT because I wish to understand the prompt engineering at a much more basic (and practiced) level before I burden it with what I consider to be the most complex of my lifelong pursuits - my love of trading.
I tend to take new technology very slowly, and want to understand its benefits and disbenefits before investing more time into the subject. Suffice it to say that since Jan2023, I surprised myself to know I have used ChatGPT in a total of 30 use cases, and finally decided to subscribe to the ChatGPT4. On the weekend I did my first deep dive session to produce the 1,200 word “article” on the subject of the soul and consciousness. It is now my goal to start to use this application in my main consulting business. I will start with 5% of my time, and this will be added to my normal working week, so that is about 2 hours of focussed, time-boxed effort per week.
On your linked blog article of 31May2023 you have written about a comparison between ChatGPT and Bard - the Google offering, with the following narrative:
Knowledge (Bard) Can access and process information from the real world (ChatGPT) Cannot access and process information from the real world
I wonder if you can expand on this assumption. I have assumed that you are referring to ChatGPT 3.5 not ChatGPT4. My assumption, now as a paid subscriber, is that it does use data from the real world, but I am interested to know the root source of that comparison table. Can you help?