AI might take over the trading world thanks to comprehensive sentiment analysis, the $50,000 portfolio will show how effective the synthetic trader will be
Alejandro Lopez-Lira, the man behind the 400% return, utilized GPT to analyze news articles and buy or sell stocks based on the sentiment derived from the headlines. This groundbreaking approach outperformed traditional sentiment analysis methods and returned a staggering 400% .The study found that ChatGPT was able to accurately predict stock market returns using sentiment analysis of news headlines, determining whether the news was good, bad or irrelevant for a firm's stock price.
By assigning a numerical score, a positive correlation was observed between the ChatGPT scores and subsequent daily stockIn addition to traditional stocks, ChatGPT's entry into the trading world also has potential implications for cryptocurrencies and digital assets. Furthermore, given the volatile nature of cryptocurrencies, the application of AI-powered sentiment analysis could help traders and investors navigate often uncertain market conditions more effectively.
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