Introducing our brand new feature AI Decision Tool, the new addition to the XAUBOT family of AI-driven, smart tools for trading in the forex market. This amazing tool will help traders make decisions based on an extensive volume of market data in a matter of seconds. This AI Decision Tool has combined state of the art technologies like AI, machine learning, and LLM.
Yes, that’s right. We are there. We are at the point of using large language models in forex trading. Let’s see how.
The Rise of AI and Machine Learning in Forex Trading
Of course as the AI revolution is making headways all over the world and in all sorts of fields, including finance and forex trading, we have been witnessing amazing breakthroughs and advancements in this field.
In recent years, there have been many tools and platforms introduced to the world of forex trading where artificial intelligence and machine learning are used for various purposes; including analyzing huge amounts of data.
AI with the help of machine learning (ML) provided us with a way to get razer focus data analysis techniques and be able to revolutionize the world of automated forex trading. This is exactly what XAUBOT brought for forex traders when we first introduced it.
The exciting new era that we are entering is about using more advanced forms of AI such as large language models (LLM) and integrating it directly into forex trading.
There is consensus among almost all large AI firms’ CEOs that the use of such models is the predecessor to finally using AGI
What does that mean exactly?
It means using and integrating LLM in complex tasks such as trading in the forex market is the last step before we are actually able to use artificial general intelligence. We are closer than ever to an AGI Forex trader that you can just talk to and tell it whatever you want.
So, be part of this super exciting revolution with XAUBOT and come along with us to see exactly how our AI Decision Tool works.
How the AI Decision Tool Works?
The main idea behind the AI Decision Tool was to design a tool that can help traders make better and more informed decisions. Decisions that are based on the analysis of various data sources. And that is exactly what these tools can do.
At the moment it supports the trading pairs AUDNZD, AUDCAD, NZDCAD, GBPNZD, and of course XAUUSD. But of course in future updates we will extend this coverage so that ALL forex pairs are covered by this tool.
As you can see in this image, the way this tool works is through 4 main columns:
- Social Media Analysis: the first column is called Social Media and it is able to scan social media platforms like Reddit, Twitter, and Quora in real time and obtain data from them. In this way, you can clearly see the sentiment of traders on various social media platforms about that currency pair and whether they feel positive (buy), negative (sell), or neutral.
- News Forecast: the second column is all about fundamental factors. This column will go through news websites and reputable sources such as Investing.com and Forex Factory to scan for any news related to the chosen currency pair. In this way, you will once again receive in real time fundamental data about whether upcoming news events are going to impact the news positively, negatively, or they are neutral.
- ChatGPT Analysis: the third column is where we see the direct integration of LLM through the most powerful large language model ChatGPT. The AI Decision will directly access this AI model and in this way ChatGPT will be exactly like a professional trader for you and tell you its position on this trading pair at that moment and whether it is positive (buy), negative (sell), or neutral.
- AI Decision: and lastly there is the fourth column which is the AI decision itself. The final verdict. It will weigh in the results from previous columns and then make a final decision and tell you one of three things: Buy, Sell, or Neutral.
This will be a very valuable insight as it will use three factors of sentiment analysis (social media), fundamental analysis (news forecast), and of course artificial intelligence (GPT).
The Role of the AI-Decision Parameter
A significant aspect of this AI Decision table is the parameter known as AI Decision. With the help of this parameter you can control if you want the expert advisor to execute trades based on the results of the AI Decision or not. As its default setting this parameter is false which you can set to true.
In either case you as the user are in charge. This gives you the freedom to choose whether you want an enhanced level of automation or go the beaten path and make things more manual and only use the insight from this tool.
Benefits for Manual Traders
We have designed this tool so that it can be used in both approaches to trading, whether automated or manual.
In the automated form, it can just be part of the automated trading process of XAUBOT and in the manual form it can be an amazing trading assistant to help you make the best decisions.
But let’s break it down exactly and see what benefits this tool can have for you:
- Automated Trading: first of all, the AI Decision Tool can act as a boost or enhancement for the entire automated trading process of XAUBOT. This is like an extra layer of analysis, calculation, data gathering, and market monitoring for extremely reliable trading decisions.
- Manual Trading Assistance: In addition, the boost that it can add to the entire automated trading process, the AI Decision Tool can be an amazing trading assistance for manual traders. That’s right, we haven’t forgotten about you hard-working manual traders!
You can use this tool on your chart and receive real time info to take your manual trading experience to a level like you have never experienced before.
- Reduced Risk: the nature of the AI Decision feature on its own is such that it can act as a measure for risk management. How you might ask. Well, through the various data gathering points that it has, i.e. social media sentiment, news forecasts, ChatGPT insights, and AI-driven decisions.
The Future of AI in Forex Trading
This new feature is a perfect insight into the future of forex trading and also automated trading. The future of forex trading involves the integration of more and more advanced AI models and especially technologies related to machine learning and neural networks. The big change that will take place is the integration of large language models or LLMs with forex trading tools.
The integration of LLMs into forex tools is the next step that will eventually lead to an AGI model which is artificial general intelligence. The reason LLM brings us closer to that is that a language model is the closest thing we have to general intelligence and a human brain.
So imagine instead of just AI-powered tools that are able to execute special tasks, you would have a model that is able to do whatever you ask of it. This is what LLM will be able to do in the future of forex trading.
Whether you want to use this tool along with XAUBOT or you just want to boost your manual trading, try the AI Decision feature for yourself and enjoy its amazing advantages.