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    ChatGPT Gave Me AI Stock Picks That Actually Work!

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    ChatGPT Gave Me AI Stock Picks That Actually Work!

    In a recent video, the popular trader known as "Humble Trader" explored the use of OpenAI's ChatGPT to generate AI stock picks. The goal was to find the best way to make a hundred thousand dollars in the stock market using AI stock recommendations. In the video, the trader tested the accuracy and profitability of the AI-generated stock picks by analyzing their technical analysis, trading strategies, and profitability based on current market conditions.

    At first, the trader asked ChatGPT for the hottest AI stocks to buy right now. ChatGPT provided a list of publicly traded companies involved in AI, including big-tech companies like Google, Microsoft, Amazon, Facebook, and other companies such as Nvidia, Intel, and IBM. The trader then focused on Nvidia, known for its powerful graphics cards essential for AI projects and its partnership with Microsoft to build a powerful computer.

    Using technical analysis on TradingView, the trader examined Nvidia's stock performance. The trader observed that Nvidia had experienced a significant drop in mid-2021 but had since bounced back above its 200-day simple moving average (SMA). The trader also noted the importance of the 200-day SMA as a general guideline for determining bullish or bearish sentiment.

    To develop a trading strategy for Nvidia, the trader used the code generated by ChatGPT in a previous video and backtested it on TradingView's Pine Editor. The strategy created buy and sell signals based on the price crossing above or below the VWAP (Volume-Weighted Average Price) indicator. The trader found that the strategy was profitable over the last three and six months when Nvidia was in an uptrend.

    The trader then tested the same strategy on other AI stocks suggested by ChatGPT, such as Microsoft and various small-cap stocks. The results showed that the strategy was most profitable when the stocks were in an uptrend, validating the trader's observation. However, some of the small-cap stock suggestions provided by ChatGPT were inaccurate, leading the trader to ask more specific questions.

    Seeking more accurate stock suggestions, the trader asked ChatGPT for the hottest AI stocks with a market cap under 500 million and publicly traded. After cross-referencing the results, the trader found Cogent Inc. (now Fluent Inc.) to be one relevant stock pick. However, the profitability of the AI strategy on this stock was low due to its downtrend.

    To further explore profitable AI stock picks, the trader sought suggestions from Instagram followers and discovered three popular choices: AI, SOUN, and BBAI. The trader analyzed their charts and developed trading strategies based on their price levels and historical trends.

    In summary, ChatGPT provided AI stock picks that were successful in certain market conditions. The trader discovered that the strategy was most profitable when applied to stocks in an uptrend and found accurate stock suggestions using followers' input. The importance of understanding market sentiment and adapting strategies accordingly was highlighted throughout the video.

    Keywords:

    • ChatGPT
    • AI stock picks
    • Technical analysis
    • Trading strategy
    • Market conditions
    • Uptrend
    • Profits
    • Accuracy
    • Small-cap stocks
    • Downtrend

    FAQ:

    Q: How did ChatGPT generate AI stock picks? A: ChatGPT generated AI stock picks based on publicly traded companies involved in AI and their recent growth. However, the accuracy of the suggestions varied, with some small-cap stock recommendations being inaccurate.

    Q: Were the AI stock picks profitable? A: The profitability of the AI stock picks depended on the market conditions and the stocks' performance. The trader found that the strategy was most profitable when applied to stocks in an uptrend.

    Q: How did the trader develop trading strategies for the AI stock picks? A: The trader used a strategy code provided by ChatGPT and backtested it using TradingView's Pine Editor. The strategy generated buy and sell signals based on the price crossing specific indicators.

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