ChatGPT for Investing is a topic taking the world by storm. While it cannot access current information, it may be able to assist in piecing together structured methods of learning.
ChatGPT for Investing Advice
ChatGPT for investing advice may not be the wisest move since it cannot connect to current data (at the time of writing this post). That’s not to say this is forever. Once it connects to real time internet, the information will be more up to date and therefore may be able to derive better answers for investors.
What things might you search in ChatGPT for investing?
Since ChatGPT isn’t connected to live data, there are some limitations to what useful information you can get. Let’s check out what things you could look up though.
1. Commodity or underlying company information
Underlying company information, meaning what does the company do, or how does the company actually make money, is an excellent research topic when looking at investing in a company. For example, gaining a deep understanding of the market the company operates in, let’s say a commodity mining company would be very helpful.
Researching what they mine, what the grades are and what the use cases are, could help in your analysis of the company’s future value. Ask ChatGPT questions about the commodity, or what the company does to understand it’s use case in the real world.
2. Ask ChatGPT what pros and cons there are for the company
While it won’t be cutting edge information, ChatGPT can chat to you about the pros and cons of the company, the industry it operates in and potentially discuss news and announcements that may impact its future business.
Chat GPT Investing Strategy
Chat GPT can offer insights into investing strategies. Forget about paying a guru to tell you to watch a moving average. Bring on advanced information, simplified. Ask Chat Gpt for information on trading strategies, tell it to build you a learning module from beginner to advanced on the strategy concepts and ask it all of the types of things that you should know as a trader or investor.
How to start investing with 1000 with Chat GPT
Chat Gpt may not know how to invest exactly, but it can give great information on companies and assets you may want to look into.
Starting with 1000 probably won’t be something you retire off, but it could be the first step in a very big journey in the long term, when you leverage compounding interest and dollar cost averaging (DCA).