Is ChatGPT Trader Legit & Safe to use in Autopilot app?
Autopilot investment apps have been all the hype recently, and ChatGPT Trader has caught the attention of many. The question is, is it safe and legit to use in this app? While we cannot provide a definite answer, we can share some details that might help you make an informed decision.
Originally, ChatGPT Trader was part of a meme app that allowed users to copy trade top investors' portfolios. The app gained traction since it provided interesting and diverse portfolios of people like Nancy Pelosi, political ETFs, and inverse Jim Cramer. However, questions started to surface regarding the app's authenticity and safety.
ChatGPT Trader was recently released to the market, and while it's a great start, we wouldn't recommend putting all your money in it. The app uses advanced tactics by providing the two most important things: financial statements of each stock and recent media coverage of that stock. The data is then analyzed and scored by ChatGPT, and the top 20 scores are selected once every three to five days.
It's essential to note that the data isn't collected by ChatGPT but rather by the autopilot team. ChatGPT only analyzes the data and gives a score based on that analysis. The app uses an interesting approach, and if the data they receive is good enough, the results can be quite valid.
We tried testing ChatGPT's competency level, and we can say that if you feed it data to analyze or create a summary from a video transcription, it does an excellent job. However, if you ask ChatGPT to write a blog post from scratch or provide answers to niche topics, it doesn't perform as well.
While we don't advise putting all your money into ChatGPT, it's an excellent experiment to try with a small budget. Create a ChatGPT portfolio, connect your account to Robinhood, Webull, or Ameritrade (when they become available!), and give it a trial run.
Just remember, there's always a risk involved when investing, so always think with a clear head and do your own research before making any decisions. ChatGPT Trader could be the future of investing, and we're excited to see where the development goes.No answer to your question? ASK IN FORUM. Subscribe on YouTube!