• OpenAI announced the release of their newest, smartest bot so far – ChatGPT 4.0.
• This AI language model is trained on vast amounts of textual data and understands complex queries from users.
• The bot can be used to devise a basic intra-day strategy by taking help from its ability to make logical inferences if presented with data from the indicators.
OpenAI Releases ChatGPT 4.0
On 14 March 2023, OpenAI announced the release of their newest, smartest bot so far – ChatGPT 4.0. Reportedly, it is better than version 3.5 in a multitude of ways.
What is ChatGPT?
ChatGPT is a large-scale artificial intelligence language model developed by OpenAI that has been trained on enormous amounts of text data. This allows the bot to understand and generate responses to complex queries from the user like a human would, although accuracy may vary and users are advised to fact check what it says before accepting its advice as truth.
Using ChatGPT for Intra-Day Trading Strategies
The chatbot does not have access to live market prices or global news after September 2021, but it was possible to get its prediction on Cardano and Bitcoin prices in the future using technical analysis indicators such as RSI and moving averages periods with Fibonacci numbers 13 and 21 involved in trading strategies within one day timeframe (intra-day).
Testing Strategy Developed by Bot
I tested the strategy suggested by ChatGPT on Cardano chart: buy only when RSI is above 50 according to PineScript code generated by GPRT given below:
After testing this strategy for some time I found out that overall results were satisfactory for intra-day trading purposes despite having no access to realtime market prices or global news updates after September 2021 period.
< h 2 >Conclusion h 2 > To sum up , using AI – based platforms such as OpenAI’s ChatGPT 4 . 0 can be beneficial in devising basic intra – day trading strategies without requiring access to real time market prices or news updates . Although accuracy may vary , fact checking should always be done before making any decisions based on information given by chatbot .