In the fast-paced world of finance and trading, innovation knows no bounds. And in a surprising turn of events, a trader by the name of Brian Schardt recently embarked on an unprecedented experiment. He entrusted ChatGPT, the powerful AI language model, with a staggering $50,000 to engage in the world of trading.
What ignited the rise of this extraordinary experiment was statement by CNN that "ChatGPT can pick stocks better than top fund managers," This drove Chris and his team to embark on this bold endeavor that has not only caught the attention of the financial community but has also raised important questions about the capabilities of AI in the world of finance.
The Experiment Unveiled:
Chris Josephs and Brian Schardt's audacious experiment began with a simple tweet that piqued the curiosity of traders and AI enthusiasts alike. In the previous months CNN made a bold statement On his Twitter account, Schardt shared his intention to give ChatGPT $50,000 to trade with. This tweet quickly gained traction and generated considerable buzz in the online trading community.
How do you get ChatGPT to act as a financial expert ?
Jailbreak ChatGPT so it can analyze news articles on stocks.
Since the generic chatgpt version has data until 2021, data had to be given to so as to compare and have updated insights.
How do you get chatgpt to analyse the stocks?
After giving chatgpt insights on updated data, the traders then puledl the most recent news articles for all the stocks listed, that have a greater than $300 million market cap and analyze headlines. The correlation between the stock market and the news articles helps chatgpt make investment decisions.
Let’s check out the Milestones that chris and his team went through over this hectic period of 5 - 6 months:
Milestone 1: The First Month - 8% Profits
In the first month, ChatGPT demonstrated its trading prowess by generating around 2 - 4% profit. This initial success set the stage for what would become an increasingly captivating journey. In just a day or two over 1M+ cummulative investment was invested by autopilot app users following the chatgpt trades
Milestone 2: Second and Third Months Market Downturn and Steady Profits
ChatGPT continued to perform admirably in the second and third months, maintaining a consistent 5% - 8.8% profit rate. These results showcased the AI's ability to sustain its performance over time.
Despite a downturn in the stock market in the subsequent months, ChatGPT never incurred losses. It consistently delivered profits rwith the lowest points being 1% to 2%, highlighting its resilience and adaptability in challenging market conditions.
Milestone 3: Massive Investor Interest
In the first four months of the experiment, the project garnered substantial attention, with more and more investors flocking to participate.
the project gained viral status on Twitter as curiosity about the experiment's results grew. Cumulative investments following ChatGPT's trades surged to a staggering $30 million, with people from all over the world supporting the cause., demonstrating growing confidence in ChatGPT's trading capabilities.
Milestone 4: Global AI Expert Collaboration
Recognizing the need to further enhance the trading prompts and user experience, the team behind the experiment brought in AI experts from around the world. This collaboration aimed to refine ChatGPT's trading strategies and improve the overall user experience, underscoring the commitment to innovation and continuous improvement.
The GPT Portfolio 2.0
After long hours of work and improvement, Chris Joseph and his team have now introduced The Gpt Portfolio 2.0 with improved features and better trading algorithm. As the experiment continues to unfold and more insights are gained, it will be fascinating to see how AI technology like ChatGPT can be harnessed to enhance and augment human decision-making in the realm of finance. It serves as a reminder that the intersection of artificial intelligence and trading holds enormous promise and is a space worth watching closely in the years to come.
To follow their journey and stay updated about the advancement of the project you can follow their twitter The GPT Portfolio
If you would like to learn more about cryptocurrencies and stay ahead of the game, Join our exclusive Certified Cryptocurrency Trader program, use the link below for a discount.