How I Use ChatGPT AI to Make a $1000 Per Trade Trading Strategy (STEP BY STEP)
Summary
TLDRThis video script demonstrates how to create a simple yet effective trading strategy using Chat GPT and TradingView. It outlines the process of generating a moving average crossover indicator in Pine Script, customizing it with specific time filters for the New York open, and adding a profit-taking mechanism for triple-digit gains. The strategy is showcased with real-time examples, highlighting its potential profitability and ease of implementation for traders seeking clear entry and exit points.
Takeaways
- 🤖 Simple AI scripts can be used to create trading strategies without needing extensive coding knowledge.
- 📈 Trading strategies can be simple yet effective, as exemplified by the moving average crossover strategy discussed.
- 💻 The use of Chat GPT and Trading View allows traders to program and model their own trade ideas with ease.
- 🔢 A $20 subscription to GPT can facilitate AI-assisted trading strategy development, though a free version is also available.
- 📊 The script provided by GPT generates a Trading View indicator for a moving average crossover with customizable periods.
- 📝 Specificity is key when interacting with AI; clear, precise instructions are necessary for accurate results.
- 🎨 Customization is possible with the provided script, including changing label colors to improve visibility.
- ⏰ The strategy can be further refined by adding time filters to focus on specific trading hours, such as the New York open.
- 📉 The script can be modified to include profit-taking conditions, like exiting a trade after a 100-point move.
- 🌐 The strategy's effectiveness is demonstrated by applying it to different markets and showing significant profit potential.
- 💡 The presenter offers the indicator for free and encourages testing the strategy in a prop trading environment like Apex Trading.
Q & A
What is the main topic of the video script?
-The main topic of the video script is creating a simple trading strategy using AI scripts and TradingView, specifically focusing on a moving average crossover strategy.
What are the two tools mentioned as essential for creating a trading system?
-The two essential tools mentioned are Chat GPT (an AI language model) and TradingView (a platform for charting and trading).
What is the purpose of using Chat GPT in this context?
-Chat GPT is used to generate Pine Script code for TradingView indicators, which helps in creating a trading strategy without additional help.
What is Pine Script and why is it used in this script?
-Pine Script is a language used by TradingView to create custom indicators and strategies. It is used in this script to define the moving average crossover strategy.
What are the default moving average periods used in the initial strategy?
-The default moving average periods used in the initial strategy are 10 and 100.
How does the script suggest modifying the labels for better visibility?
-The script suggests modifying the label text to white to improve visibility on the TradingView chart.
What is the significance of the New York open in the context of this strategy?
-The New York open is identified as a productive and interesting time for trading, with significant price movements that can be used for Buy/Sell signals.
How does the script suggest filtering the Buy/Sell signals by time?
-The script suggests creating user inputs for a time window in UTC, during which the signals will be valid, to filter the Buy/Sell signals by time.
What is the strategy for taking profits in this trading strategy?
-The strategy for taking profits involves setting a condition to take profit when the price increases by 100 points from the Buy entry or decreases by 100 points from the Sell entry.
How does the script suggest enhancing the strategy with an exit strategy?
-The script suggests adding an exit label when the price moves 100 points in either direction after a Buy or Sell signal, providing a clear exit point for the trades.
What is the potential impact of using this strategy on trading profits?
-The potential impact of using this strategy is that it can help eliminate noise and capture consistent profits, as demonstrated by the example trades in the script.
How does the script relate the strategy to the potential for funding a trading account?
-The script suggests that by using this strategy effectively, one could potentially fund a $50,000 trading account within a week, given the consistent triple-digit profits it can generate.
Outlines
🤖 Creating Simple AI-Powered Trading Strategies
This paragraph introduces the concept of developing uncomplicated yet effective trading strategies using AI and TradingView. The speaker demonstrates how to leverage GPT 4.0 to generate a Pine script for a moving average crossover indicator, which is a basic trading strategy. The script includes customizable moving averages and visual labels for buy and sell signals, showcasing the ease of programming trading ideas with AI assistance.
📈 Refining the Strategy with Time-Based Filters
The speaker refines the initial trading strategy by incorporating time-based filters to identify the most productive trading hours, specifically focusing on the New York open. They use GPT to create a user-defined time window in UTC for signal validity, enhancing the strategy's precision. The paragraph highlights the importance of adapting strategies to market conditions and the ability to dynamically modify AI-generated scripts to improve trading outcomes.
📊 Implementing Profit-Taking Mechanisms for Triple-Digit Gains
The paragraph discusses the implementation of a profit-taking mechanism to secure triple-digit gains. The speaker instructs GPT to modify the trading script to generate exit signals when the price moves 100 points from the entry point, either up or down. This approach aims to capture consistent profits without overreaching, thus avoiding the loss of potential gains due to market reversals. The speaker also shares the modified script and demonstrates its application in a trading scenario.
🚀 Optimizing Strategy for High-Efficiency Trading
In this final paragraph, the speaker emphasizes the efficiency of the developed strategy, showing how it can be used to make significant profits with minimal trades. They illustrate the strategy's performance with examples from NASDAQ and the Dow, highlighting the potential earnings from 50 and 100 point moves. The speaker concludes by offering the indicator for free and encouraging viewers to test the strategy in a prop trading environment like Apex Trading, suggesting the potential for rapid account funding with successful trades.
Mindmap
Keywords
💡Trading Strategies
💡ChatGPT
💡TradingView
💡Pine Script
💡Moving Average Crossover
💡User-Defined Inputs
💡Labels
💡Time Filter
💡Profit Target
💡Backtesting
Highlights
Creating simple yet effective trading strategies using Chat GPT and Trading View.
The importance of being specific with AI to ensure accurate script generation.
Developing a moving average crossover strategy with user-defined parameters.
Incorporating buy and sell labels at key crossovers in the trading strategy.
Modifying the strategy to improve label visibility with white text.
Observing the impact of New York open on trading activity and strategy effectiveness.
Filtering the strategy to only show buy/sell signals during specific New York hours.
Adding a time filter to the strategy using UTC for precise trading windows.
Implementing a profit-taking mechanism for a triple-digit profit per trade.
Creating an exit strategy that secures profits after a 100-point price movement.
Demonstrating the strategy's effectiveness with real-world trading examples.
The potential of the strategy to generate significant profits with minimal risk.
Using the strategy to efficiently trade indices like NASDAQ and Dow.
The strategy's potential to fund a trading account quickly with consistent profits.
Providing the strategy's Pine Script code for free to the audience.
Encouraging testing of the strategy in a prop trading environment like Apex Trading.
Highlighting the strategy's simplicity and adaptability for various trading scenarios.
Transcripts
how do you create triple digit game
strategies with very simple AI scripts
and trading view I'm going to show you
how this is Bor slurg let's get into it
trading strategies do not have to be
complicated in fact the best trading
strategies in the world are exceedingly
simple but now with the power of chat
GPT and trading view you can begin to
program and model your own trade ideas
without any additional help and you can
see how those trade ideas could come to
life into profitable trading strategies
I'm going to show you exactly step by
step how this is really possible right
now let's get into it hey guys Okay so
we've got ourselves two of the tools
that we absolutely need in order to be
able to create a trading system that we
can then use to trade live right now I
have Chad GPT open GPT 4.0 now I have a
subscription a $20 subscription I
recommend if you really want to do um AI
you pay for the subscription but it's
not NE necessary you can get the free
one and it will also produce the code
that I that I'm going to show you and we
have trading view here on the other
chart with us study as our chart we're
going to do a very very simple clean
moving average strategy but remember
Chad GPT although it understands human
language is not human it's a computer so
you want to talk to it the way you would
talk to a computer or to an engineer
meaning that what you want to do is be
very very specific
in the directions that you give it right
now I'm just simply going to ask it to
produce a trading view indicator that is
a moving average Crossover with a 10
period moving average and a 100 period
moving average and let's see what it
comes up with so we're going to say
please create a pine script code because
that's the language that trading view
writes in Pine script code that is an
indicator
indicator of two moving averages that
are user defined meaning that the user
can change those values anytime he wants
let's start with um 10 period and 100
period as
default please make
labels for buy and sell at the key
Crossovers and let's see what it will
do it tells you creating a p script code
for trading indicator using two moving
averages we'll use the inputs here and
it says here it says short input long
moving average
input right and it's telling you that's
going to plot those um images over here
in the code um and it's going to I think
the uh the short one is going to be blue
the long it will be red and the Buy
Signal will be when it crosses over when
the short crosses over the long um short
moving average meaning meaning the um
short value moving average and the cell
will be the other way around and it's
going to just simply plot those for us
um let me just copy this uh code here
and show you exactly what it's done I'm
going to go in
here I'm just going to Simply all we're
going to do is we're going to go into
Pine editor in trading View and just
literally copy and paste this code we're
going to save it and it's going to ask
us for you know moving average and just
gives us a name custom moving average
we're going to say save okay yes okay
and um once it's moved over we're going
to say add it to the
chart and now we have it added to the
chart and it actually created exactly
what I wanted which is like a um a buy
label over here a sell label over here a
buy label over here however um what you
you see here is that you can't really
see the letters buy and sell inside of
the label so what I'm going to do is I'm
going to go back to chat GPT and say
make label text in white and it's all
you kind of actually need to do so it
understands that it just wants you it's
going it wants you to modify the the
code that it's already written so it
sort of understands the conversation
that you started with it and um you will
simply just be able to um to just
rewrite the code so now I'm going to
just copy the code and let's see if this
this comes up and does a good job for
us just delete that copy paste it in
here save
it and look look how cool this is now
it's telling us buy sell you can
actually see this symbols I can get a
little bigger you guys can see um the
labels and you know here they are they
you know they give giving us all the
labels showing us you know Buy sell
signals and we actually
have a interesting prototype of a
strategy right so here's a strategy that
um shows us buy sell points on a chart
or in the us3 I'm going to just simply
make it autofit all data so you can
actually see it here from from the thing
you see um this is Now understand I'm
going to New York time zone right UTC
minus 5 so this is us3 so if you're
looking over here this would be um
effectively last Thursday so you know oh
this is November 23rd what is this oh
we're in a 1H hour chart ah never mind
I'm sorry I wanted to go on a one minute
chart okay forget it I wanted to go I
just want to go to a super super
short-term strategy I was like wow we
really went far so this is just um
Friday's Friday's data which is what I
really wanted cuz I'm going to show you
how we can look at this on an intraday
basis and create an interesting strategy
already just from looking at this we can
see some interesting developments that
happen in um in this particular uh just
moving average crossover nothing more
complicated than just a moving average
crossover right so one of the things
that you see here as I'm scrolling
through the data and I'm going to get
smaller here maybe we'll go for a couple
more days right we'll go backwards what
do you see that on the chart that kind
of jumps out at you you know what jumps
out at me see here is that basically
there's nothing interesting going on um
until about 7 8:00 New York maybe 9:00
New York right and then from 9:00 New
York what you get is really really big
nice moves right this whole Buy sell
move that's an interesting move that's
an interesting move so what does this
tell us this is telling us that um New
York open is perhaps the most productive
and interesting uh time for us to look
for Buy sell signals so what if we
decided to do the following what if we s
said to the code hey modify this code so
that it only shows me the buy sell
crossovers during a specific time in the
New York time zone or you know any time
zone but in particular during the New
York open let's see what happens next
like how I'm constructing the strategy
on the Fly guess what we do this every
single day in my chaval we trade live we
create new strategies and I'd love to
see you come join us the link below
gives you a big discount so be sure to
click it if you want to come join me and
we'll trade together okay now we're
going to ask Chad GPT to create a filter
function for us basically to say that we
only want to be able to trade during
specific hours and we want that to be
user defined we want the user to to tell
the jet GPT exactly when uh to turn
those signals on and when to turn them
off so what we're going to say is and
since everything um in trading really
trades around Universal time UTC time
which is GMT time let's convert
everything into UTC and then use those
as our input functions so the first
thing I'm going to say is please create
user
inputs in UTC time when the signals will
be valid let's see if it understands
that to add user input for a Time window
in up Etc during which the signals will
be valid you can use pinescript input
function to let the user specify
starting at times pinescript handles
times in Unix format seconds cpic so
you'll need to convert the user input to
this format remember that trading
platforms typically convert all times to
The Exchange time zone so you need to
account for this if you're using UTC
here's how you can modify the script you
see how the computer knows all these
things U chat GPT and actually walks you
through step by step so it tells you
here's we're going to create a start
hour start minute and hour and minute
and um it's going to say if time is
valid it's going to give you a a
function here and then the Buy Signal is
only going to occur if time is valid and
sell signal is only going to occur if um
time is valid save it here and look it
actually created a code that filtered
the time for us you see there's no
there's only like really kind of almost
quality type of filters here right the
buy and the sells have like really nice
little movements and we're kind of
ignoring all these fake buyouts or the
consolidative buyouts that it's done
which is really really interesting right
now once we look at the fact that the
code is just now filtered by time so it
only gives us much better quality
signals we can take it even one step
further we can take a look at this and
notice something very interesting price
action tends to extend for a certain
amount of time and then mean revert what
I mean by that is like you know we to
get a good signal there's a quality
amount of profit that happens as the
signal goes in and then the signal kind
of reverses and we give up a lot of that
profit so one of the things that we
could take a look at here is you could
say you know what what would be really
really good is if we started to
clip uh a certain amount of Pips out of
this move just by letting us know it's
moved a certain amount let's say we want
to take a 100 points a triple digit
profit out of this move not get too
greedy just take the clip move as the as
the move happens and walk away without
profit instead of having to just try to
milk it for more and more and then see
it disappear in our front of our eyes so
we're going to ask the code to create
the following modification we're going
to say we want you to go in there and
create give us a signal when it's made
100 points either up or down after a
sell or Buy Signal and that will give us
the perfect exit opportunity to collect
during the day let's see if we can do
that so we're going to say now look at
this code and create a condition for us
where if um the price increases by plus
100 from the buy entry or decreases by
minus 100 from the sell entry you make a
label and that label will be actually
our exit label so we're going to ask it
to do that it's actually done it for me
already so um let's see if it's just
going to modify the script again but the
script I I had it wrote wrot out ahead
of time just to save us time you can see
that it modified the script here to give
us a plus one 100 - 100 over here so I'm
going to copy this code I'm going to go
right back in here we're going to um
come back into our code editor right
here erase everything that we did before
and just paste this new code inside
going to say
save and um what you're going to see
which is really really cool is look
exits plus 100 minus 100 now not only do
we have a very interesting strategy but
we have a hardcore exit entry strategy
that kind of banks profits for us in a
triple digit format so we'll start at
8:00 so this this particular cell signal
starts at around um
37-25 and then on on the we basically
going to reverse ourselves on the Buy
Signal right so the Buy Signal comes in
probably at around somewhere around here
at 261 so we sold at 225 and we buy back
at 261 we lose essentially 40 points no
problem but we're now long the position
and the next exit for us is plus 100 so
if we are -40 plus 100 we now make plus
60 then we get another cell signal and
instead of just kind of waiting for the
ultimate profit we just take our profit
at plus 100 and now basically in an
afternoon three simple trades we've
eliminated all the noise all the garbage
we've been able to lose a small amount
on on the crossover capture 100 points
on the first crossover capture 100
points on the second crossover that's
essentially effectively 160 points in a
super easy Sneezy way who tells you that
moving average crossovers doesn't work
it works really well as long as you can
tell the computer when and how to take
the profits and with the help of Chad
GPT and trading view we're able to
create this incredibly simple but yet
very effective strategy so look how cool
this strategy works you can see that for
example in NASDAQ yesterday we had a 50p
point move and then just just before the
end of the session if we caught this buy
over here it was good for 50 and 100
Point moves these moves can be thousands
of dollars on a couple of contracts at
Apex that's very very important to
understand for example um 100 Point move
in NASDAQ is $20 Point that's a $2,000
trade right here that you could have
registered simply following this very
very simple strategy here's how it
traded today where you had a move of a
50 point another big wave of 50 point
and then in the afternoon if you had
stayed around you could have also add
another 50 point move to the downside
and 100 Point move that's another 2,000
Point altogether profit on in addition
to the uh $11,000 profits that you could
have had here on a single large contract
that's not all you could have also
traded the uh the ym or the Dow where a
moves right here at 5050 in the morning
and then another 50 and 100 Point move
over here now the Dow the moves are $5
of contract so this would have been a
$500 move here today very very nicely
done and then yesterday same kind of a
thing you had a 50 point move and a 100
Point move Al together during this very
key trading time so you can see how well
and how efficient this strategy is
basically one shot one kill makes a
great trade in the morning you're done
and it's a great way to go towards your
target goal of getting funded with Apex
trading hope you guys really like the
strategy happy to share with you like
the indicator I just made it's yours for
free the link is in the description
below just click it and I'll be happy to
send it to you I hope you really enjoy
this little Rob through artificial
intelligence of training with me if you
think the strategy is cool and want to
put it to a test in a prop training
environment then please do so with my
favorite prop trading firm Apex trading
the link for douche discount is below
and think about this this little
strategy essentially effectively gives
you possibly $1,000 in just two trades
and all you need to do to fund the
$50,000 trading account is $3,000 Target
that means if you trade the strategy
properly you might be able to fund your
account within a week using Apex trading
anyways hope you really enjoyed I'll see
you guys in the markets borberg over and
out
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