Economy
Exploring The Capabilities Of The ChatGPT Trading Bot In Today’s Market

Traders Union (TU) recently took an interest in ChatGPT, a chatbot by OpenAI. Think of ChatGPT as a super-smart robot friend who loves to chat about almost anything! It’s famous for giving detailed answers to loads of questions. But, like every friend, it might get things wrong sometimes. There’s a free version everyone can chat with, and a fancier version called ChatGPT Plus for those who want more. Some even call it the “ChatGPT trading bot” because of its extensive knowledge about trading.
ChatGPT’s trading capabilities
Without a doubt, ChatGPT has carved a niche for itself in the automated trading sphere, offering several significant benefits:
- Strategic development
ChatGPT can be tapped to produce trading blueprints, metrics, or algorithms when given specific market conditions or parameters. After creation, these tactics can undergo further perfection and testing.
- Coding for trading robots
With ChatGPT, one can craft specific codes for trading automation systems, suited to your chosen coding language, be it Pine Script or Python. Once created, these scripts are adaptable and can be melded into various trading interfaces or APIs.
- Historical market insights
Even though ChatGPT’s data stops in 2021, it remains a handy tool for delving deep into past market trends. Marrying ChatGPT with up-to-date data streams or APIs can lead to a setup that assesses market data and churns out pertinent trading cues.
AI trading bots: what experts have to say
When it comes to the world of AI trading bots, TU’s experts highlight both the benefits and the challenges. On the plus side, these bots offer rapid, emotion-free decisions that can capitalize on round-the-clock market opportunities across multiple platforms. They also grant traders relief, taking on the heavy lifting of regular market monitoring. The bot’s performance, however, is determined by its algorithm, which can lead to losses if it’s flawed. Setting them up also demands a hands-on approach, and their adaptability isn’t always on par with rapid market changes.
Overall, these bots seem promising with their speed and round-the-clock market watch. However, according to Traders Union’s analysts, there are a few areas where they might not be perfect.
Pros:
- Quick, informed decisions
- Emotion-free trading
- 24/7 market presence
- Versatility across markets
- Hassle-free trading
Cons:
- Reliant on algorithm quality
- Complex initial setup
- Struggles with swift market shifts
Essential AI trading bot creation tips
Building an AI trading bot can seem complex. TU’s analysts recommend keeping the following tips in mind to streamline the process:
- Blueprint your strategy: сlearly map out your bot’s intended trading techniques.
- Select a language: Python is a favorite because of its rich libraries and ease. Ensure compatibility with trading APIs.
- Quality data matters: use clean, up-to-date market data to train your bot effectively.
- Pick the right tools: experiment with various machine learning tools for best results.
- Test before live trading: use historical data to test and refine your bot’s performance.
- Safety first: embed risk management strategies to protect your investments.
- Stay alert: continuously monitor, and update your bot’s algorithms to adapt to the market.
- Secure your bot: shield your bot from threats and ensure it adheres to trading regulations.
- Match your trading style: choose a bot rhythm that aligns with your personal trading pace.
- Versatility is key: your bot should perform well across different market conditions.
Keep these guidelines in hand, and your bot’s creation process becomes smoother and more efficient.
Conclusion
Traders Union’s analysts have found that AI technologies, exemplified by systems like ChatGPT, are changing the way trading is done. These AI tools offer the ability to make decisions based on vast amounts of data, work without getting tired or emotional, and operate non-stop. However, they’re not just plug-and-play; they demand a lot of understanding and need to be watched closely. As trading increasingly shifts to a digital world, traders who are familiar with these AI tools and can effectively manage them stand to benefit the most in the evolving financial world.
Economy
CSCS, Two Others Weaken NASD OTC Bourse in Final August Trading

By Adedapo Adesanya
Three stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.09 per cent on Friday, August 29, with one of the bellwethers, Central Securities Clearing System (CSCS), leading the losers’ chart after it shed N5.00 to close at N45.00 per share compared with the previous day’s N50.00 per share.
Further, First Trust Mortgage Bank Plc dipped 3 Kobo to close at 60 Kobo per unit versus 63 Kobo per unit and Geo-Fluids Plc dropped 1 Kobo to settle at N4.94 share, in contrast to the preceding day’s N4.95 per share.
As a result, the market capitalisation of the trading platform went down by N23.82 billion to N2.165 trillion from N2.189 trillion and the NASD Unlisted Security Index (NSI) declined by 39.81 points to finish at 3,619.89 points, in contrast to the 3,659.70 points it ended a day earlier.
During the trading session, there was a gainer and it was NASD Plc, which appreciated by N2.79 to close at N30.68 per unit compared with the previous day’s price of N27.89 per unit.
Yesterday, there was significant increase of 1,482.0 per cent in the volume of securities traded by the market participants to 8.5 million units from the previous session’s 535,298 units, there was a rise of 11.4 per cent in the value of securities to N10.4 million from N9.3 million, and there was an 8.8 per cent growth in the number of deals to 37 deals from 34 deals.
At the close of trades, Okitipupa Plc was the most traded stock by value on a year-to-date basis with 158.7 million units worth N5.9 billion, followed by Air Liquide Plc with 507.3 million units worth N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 44.4 million units transacted for N1.9 billion.
Also, Industrial and General Insurance (IGI) Plc was the most traded stock by volume on a year-to-date basis with 1.2 billion units sold for N413.6 million, trailed by Impresit Bakolori Plc with 536.9 million units worth N524.8 million, and Air Liquide Plc with 507.3 million units traded for N4.2 billion.
Economy
Naira Sells N1,531 Per Dollar at Official Market

By Adedapo Adesanya
The final trading session of August 2025 was good for the Naira as it recorded its best performance in months, gaining N4.16 or 0.27 per cent against the US Dollar in Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the forex market on on Friday, August 29 to sell for N1,531.45/$1 compared with the N1,535.61/$1 it was traded on Thursday.
Equally, the domestic currency appreciated against the Pound Sterling in the official market yesterday by N12.17 to close at N2,064.25/£1, in contrast to the preceding day’s N2,076.42/£1 and improved against the Euro by N5.33 to quote at N1,789.18/€1 versus the previous day’s N1,794.51/€1.
In the black market, the Nigerian Naira maintained stability against the greenback during the trading session at N1,545/$1.
Fresh injection of FX from the Central Bank of Nigeria (CBN) with the sale of $50 million to authorised dealer banks eased forex demand pressure.
Also supporting the market was the gross external reserves balance climbing to $41.267 billion on Friday, buoyed by additional inflow totalling $23.421 million. This is hinting at the reserves rising towards $45 billion in a best case scenario giving by analysts.
In the cryptocurrency market, it was mixed as traders carried out profit taking and some bought amid uncertainties with the overall market valuation down by 4 per cent to $3.77 trillion despite a 10 per cent surge in the overall trading activity which sits at $192.06 billion in volume over the same period.
Solana (SOL) went down by 2.0 per cent to $205.06, Bitcoin (BTC) fell by 1.8 per cent to $108,348.26, and Ripple (XRP) shrank by 1.5 per cent to $2.82, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each..
But, Cardano (ADA) jumped by 0.7 per cent to $0.8347, Dogecoin (DOGE) appreciated by 0.5 per cent to $0.2163, Ethereum (ETH) increased by 0.1 per cent to $4,398.89, Litecoin (LTC) gained 0.1 per cent to close at $110.60, and Binance Coin (BNB) grew by 0.1 per cent to $860.41.
Economy
Crude Oil Falls on Weak Demand, Expected OPEC+ Boost

By Adedapo Adesanya
Crude oil was down Friday as traders looked toward weaker demand in the US, the world’s largest oil market, and a boost in supply from the Organisation of the Petroleum Exporting Countries and its allies (OPEC+).
Brent crude traded at $68.12 a barrel after losing 50 cents or 0.73 per cent, and the US West Texas Intermediate (WTI) crude closed at $64.01 after shedding 59 cents or 0.91 per cent.
Crude output has increased as the OPEC+ group has accelerated output hikes to regain market share, raising the supply outlook and weighing on global oil prices. The market was in part shifting its focus toward next week’s OPEC+ meeting.
The US summer driving season ends on Monday’s Labour Day holiday, signalling the end of the highest demand period in the US.
There were also worries about tariffs imposed by the administration of President Donald Trump on US imports from many trading partners, with the market beginning to wonder what effect the tariffs might have on the economic outlook next year.
Prices rose earlier in the week due to Ukrainian attacks on Russian oil export terminals, but reports of talks between Ukraine’s European allies about a possible ceasefire helped tamp down prices ‘
Also, US crude inventories for the week ending August 22 showed higher-than-expected draws, implying late-summer demand was still firm, particularly in industrial and freight-related sectors.
Investors are also watching for India’s response to pressure from the United States to stop buying Russian oil, after Trump doubled tariffs on imports from India to as much as 50 per cent on Wednesday. So far, India has defied the US and Russian oil exports to India are set to rise in September.
This has not changed even as India’s state and private refiners bought more US crude in August to take advantage of the lower freight costs and an open arbitrage window caused by the hiked tariff and falling freight cost for supertankers.
Major investment banks expect Brent and WTI prices to slide in the fourth quarter of 2025 and the first quarter of 2026 amid a growing market oversupply. Banks including Goldman Sachs, Morgan Stanley, and JPMorgan see Brent prices averaging $63.57 per barrel in the fourth quarter.
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