Just 31.7% of Traders Use AI, Survey Says

Do Traders Use ChatGPT and Other AI Tools?

According to a recent survey of our community… not really.

We emailed our fans asking a simple question:

Are you using AI in your trading in any way?

379 traders answered the question.

31.7% said yes, they are using AI tools like ChatGPT in trading.

And 68.3% said no.

Overwhelmingly, traders who aren't using AI offered some variation of “I don't know how.”

Here's a sample of unedited survey responses:

This shows there is a lack of education regarding AI in trading, or at the very least, a lack of awareness.

Some respondents also have a lack of trust in AI tools, and the companies behind them:

“haven't seen any AI tools that I think will help. they might be available I am just not aware”
“Glitches and potential losses”
“Desire to remain off the grid in terms of ongoing info tracking, hacking, etc. Don't trust AI completely as it's used maliciously too much “
“Don't see how it could be useful for me to use it for trading. I see how firms with millions of dollars could have teams of phd's using it.”

We also asked those who don't use AI in trading “What could make you start using AI?”

The answers mostly revolved around proof and education. Here's a sample of unedited responses:

“High degree of confidence that AI is not going to hallucinate”
“Demo on how it would work and help”
“Seeing how it works and if it works consistently!”
“I would have to clearly understand how it would work for me and make money with less effort and greater results.”
“Teach me how to use it and implement it into my trading platform”
“Clear evidence of consistent lower risk and higher gain”
“If I could trust it, but I don't know enough about it to know what that would entail.”

So it seems like more traders would use AI if they had proof it helps, and a clear path for learning.

But what about the traders who are using AI?

We asked traders who are using AI “Which AI tools do you use in your trading?”

Here are the most commonly mentioned tools, in order of mentions (most to fewest):

We asked the “Yes” respondents “How do these tools help you?”

The answers largely fell into 5 categories:

Information and Research: finding top-performing stocks, dividend dates, YTD percentages, revenue increases, company research, fundamentals, technical setups, heavily followed stocks, categorizations, correlations, betas, news, and summarizing reports/data.
Analysis and Ideas: generating option ideas, backtesting, analyzing charts, creating possible scenarios and reasoning models, finding bullish sentiment, custom queries for trends and levels, trade review, strategy analysis, and identifying shared positions among traders.
Time-Saving and Efficiency: optimizing backtesting and script writing, parsing information, bulk data generation and refinement, fast and quick information retrieval, reducing manual legwork, speeding up organization, and record-keeping.
Decision Support: making better decisions, double-checking decisions, and acting as a thinking partner for swing trade ideas.
Trade Execution Support: Finding entries and timing, selecting expiry, stops, and limit targets, sifting trading ideas.

And here are a few specific answers (unedited) we found interesting:

“AI to me is research, learning, and idea-bouncing without bias or judgment. I upload charts for Wyckoff and pattern recognition help (wedges, triangles, flags, etc.), and I use it to bounce swing trade ideas as a thinking partner — never as a trade signal generator. Sometimes I’ll reverse engineer a pro’s trade I didn’t fully understand, and AI helps me break it down step by step. What makes it invaluable is education: it explains concepts in multiple ways until they finally click.”
“Be more disciplined, find stocks, compare stocks, define risk, suggest tier and trim, keeps track of watch list. Logging trades. Plans the news, interpret technicals, summarize news”
“It's the perfect data finder among the emotional outpouring. It's unbiased and can put together trends.”
“Optimize backtesting and script writing mainly with some help in parsing information from the tools I use”
“Ideas for investing, and lots of calculations and forward projecting with my Risk parameters.”

Finally, we asked current AI users “What do you wish AI could do for you?”

There was a huge range of answers, falling into these categories:

Prediction and Forecasting: Users want AI to predict future market prices, such as tomorrow's market movers, the impact of interest rates on stocks, and accurate forecasts for detailed decision-making approaches.
Automated Trading/Recommendations: many traders want AI tools to scan databases for optimal entries, set stops, and targets, generate option ideas, execute trades based on user-defined rules, create specific charts with indicators, suggest trading systems, identify high-probability stock moves, and find setups.
Enhanced Analysis: many traders want AI to analyze charts on multiple timeframes, plot price points in relation to news, analyze news for trading probabilities, provide solid market analysis, perform trade journaling analysis, analyze strategies and setups with suggestions/corrections, and pick top stocks in sectors based on various parameters.
Performance Improvement: traders want AI to improve their P&L in many ways, like minimizing losses, improving trading discipline, findind better trades, and providing a competitive edge against high-frequency trading.
Full Automation: some traders want AI to take care of the entire process from idea generation to entry to exit.

Here are some unedited individual answers we found interesting:

“See the future. For example: interest rates will probably go down in the next few months. If ai could look ahead and see this and then analyze which stocks might benefit the most from this in the future.”
“Pick the top stock in each sector for various parameters, including but not limited to, growth, moat, valuation, gross and net margins.”
“I wish the AI could keep my data that we work on for future and continued tracking to see what worked and why and what failed and why. I have to create a new start point each time i use the AI.”
“I want AI to plot price points in relation to news, for example if there was news i want ai to scan and anaylze news and how to trade the news and give probabilities as to how the news can play out.”
“Flag and help identify and trigger set ups per my game plan. I also want to know which 5-10 are the hottest and ready to move first thing in the morning to help me focus my attention and trading.”

Are you using AI in your trading?

Why or why not? Let us know in the comments down below!