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Fear, greed, and Claude: Meet the day traders vibe coding AI bots to beat the market (www.businessinsider.com)

submitted 12 hours ago by sanitation@lemmy.today to c/technology@lemmy.world

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[–] Deestan@lemmy.world 10 points 6 hours ago

Ooh an ~~advertisement~~ article about AI being useful! Let's play Qualifier Bingo!

he thinks💥 he's stumbled across what could💥 be a new trading life hack: getting AI to trade for him.

Many of his friends in the markets have already jumped on the trend and are automating💥💥 their trades.

An olympic level jump across different meanings of the word "automation". That is worth two points!

Currently, he's speaking with💥 an AI platform about using their tech to💥 create a semi-automated trading system, which he hopes💥 could💥 help💥 him make some💥 money on the side💥

Hell yeah, 11 points! This gives the article a factuality rating of... "Fucking Scam"

[–] Arrandee@lemmy.world 16 points 8 hours ago

You can tell this article is bullshit, because the link contains businessinsider.com.

[–] tidderuuf@lemmy.world 37 points 11 hours ago (2 children)

Algo trading was around long before anyone heard of ChatGPT or OpenAI.

Here's the secret they won't tell: if there was a way to print money, everyone would be doing it. This is just another fast paced way to lose your money or win big if you are lucky. No one makes it big as a day trader or algo trader, anyone who claims they have are the more fortunate of the 499 other suckers who lost it all.

[–] mlg@lemmy.world 6 points 7 hours ago* (last edited 2 hours ago) (1 children)

An algo/ai would only be profitable if you fed it insider information giving it enough time to make an actual informed decisions and not "fair" play.

Which obviously you don't need an AI for.

It's why the suggested strategy for us plebs is into throw money into something stable and come back to it years later with just enough ROI to stay ahead of inflation.

[–] kambusha@sh.itjust.works 5 points 7 hours ago

Bingo. If you're using public data, there are already bots out there 1000x quicker than you.

[–] MagicShel@lemmy.zip 18 points 11 hours ago

I day traded for several months. Mostly lost little bits here and there over time. Hit a $5k win on a leveraged bet and went out on a high note. I bet that good earnings by Apple would mean good earnings by MS later that same week. And then I retired from day trading because even the piddly amounts I was making and losing were stressful.

Someone could make a real killing betting on when this administration was going to try to steal another $500m from the market, though — if they got it right.