How I'm Making Passive Income with ChatGPT AI
Summary
TLDRThe video showcases a content creator in Japan sharing insights on how to generate passive income through crypto trading bots using ChatGPT. The creator explains two trading algorithms: one based on the 25-50 day simple moving averages for Bitcoin and another using an Ethereum squeeze momentum indicator. They provide a detailed walkthrough of setting up the bots on the Pionex platform, automating trades, and generating income without technical expertise. The video also highlights the potential of trading algorithms and invites viewers to explore the platform for bonuses and passive income opportunities.
Takeaways
- 🌍 The speaker is in Japan and emphasizes the value of achieving location freedom.
- 💰 The video is about generating passive income using automated crypto trading bots.
- 🤖 The speaker uses ChatGPT to help write and implement trading algorithms.
- 📈 The primary trading strategy is based on the 25 and 50-day Simple Moving Averages (SMA) crossover.
- 📊 The Bitcoin trading bot earned $62 in one day and once made $250 using this strategy.
- 🛠️ The speaker is using the Pionex platform for crypto trading bots and mentions they are sponsored by Pionex.
- 🧠 The Ethereum trading bot is still in testing and uses a different algorithm, currently up by $3.
- ⚙️ ChatGPT helps generate and modify trading algorithms, which can be backtested on the TradingView platform.
- 🔄 The speaker is also exploring the Squeeze Momentum Indicator for Ethereum trades and believes it could be highly profitable.
- 💡 The speaker encourages viewers to try trading with bots and explore strategies from Pionex's GPT marketplace, but warns of associated risks.
Q & A
What is the primary focus of the video?
-The video focuses on using ChatGPT to generate passive income through crypto trading algorithms, with examples of two trading bots set up by the creator on the Pionex platform.
What kind of trading algorithm does the creator use for Bitcoin?
-The creator uses a momentum trading algorithm based on the crossover of the 25-day and 50-day simple moving averages (SMA). When the 25 SMA crosses above the 50 SMA, it generates a buy signal, and when it crosses below, it generates a sell signal.
How does the creator use ChatGPT in their trading strategy?
-The creator uses ChatGPT to help write and modify crypto trading algorithms. They ask ChatGPT for specific trading strategies, like the SMA crossover, and then copy and test the generated code on the TradingView platform.
What is the performance of the Bitcoin trading bot?
-The Bitcoin trading bot made $62 in one day, and in another instance, it earned $250 by shorting during a bearish market. The bot trades automatically based on the SMA crossover signals.
What other trading bot is the creator testing?
-The creator is also testing an Ethereum trading bot that uses a different algorithm. The bot recently opened a position, and while it has only made $3 so far, the creator is hopeful about its performance.
What platform does the creator use to run these trading bots?
-The creator runs these trading bots on the Pionex platform, which also sponsors the video. Pionex offers various automated trading bots that users can customize and use to trade cryptocurrency.
What is the 'Squeeze Momentum Indicator' used in the Ethereum trading bot?
-The Squeeze Momentum Indicator is a popular technical indicator that identifies price bands and detects moments of rapid price movement or 'squeeze' zones. The creator uses this indicator to predict market squeezes and make profitable trades.
Can users copy the trading algorithms used in the video?
-Yes, the creator shares the source code of the trading algorithms, which users can copy, modify, and use for their own crypto trading. Users can also access pre-made strategies from the GPT Marketplace on Pionex.
What is the backtested performance of the Bitcoin trading algorithm?
-The backtest of the Bitcoin trading algorithm showed a 23% return on investment over a given period, which is encouraging for the creator. When backtested for a month, the algorithm achieved a 16% return, with the potential for annualized gains up to 200% APY.
What advice does the creator give regarding the use of trading bots?
-The creator advises viewers to start small and do their own research before using trading bots, as there is inherent risk in trading. They emphasize the importance of not trading based on emotion and letting the bots handle market decisions automatically.
Outlines
🌏 Exploring Japan with Passive Income Goals
The speaker begins by sharing their excitement about being in Japan, emphasizing that achieving this level of freedom is possible through passive income. They introduce the idea of using ChatGPT to create automated systems for generating income, enabling travel while still earning. The speaker explains their use of crypto trading bots and showcases two that they’ve developed: one for Bitcoin and another for Ethereum. The bots use technical indicators and algorithms to execute trades autonomously.
📈 Bitcoin Trading Bot Based on Moving Averages
In this section, the speaker delves into the specifics of their Bitcoin trading bot, which operates using the 25-day and 50-day Simple Moving Averages (SMA). The bot generates buy signals when the 25-day crosses above the 50-day and sell signals when it crosses below. The speaker highlights a recent success, where the bot made $250 during a bearish downturn. This bot operates autonomously, protecting market positions by executing trades even while the speaker is sleeping. They mention their use of the Pionex platform and provide details on how the bot manages momentum trading.
📊 Testing and Optimizing the Ethereum Bot
The speaker introduces their Ethereum trading bot, which uses a different algorithm and was recently set to open positions as Ethereum began to rise again. They explain how to modify the bot’s code through Pionex GPT and show how to backtest the algorithm using a specific date range (from March 1st). The backtesting reveals an annualized potential return of 200%, which motivates the speaker to continue using the bot. They stress the simplicity of setting up such bots with minimal technical knowledge but also caution viewers about the risks of crypto trading.
🔧 Customizing and Automating with Pionex GPT
This section covers how to further customize trading algorithms by working with Pionex GPT to generate trading strategies. The speaker shows viewers how to set up a webhook URL, connect it to a trading signal, and automate the process for seamless execution. They provide step-by-step instructions for integrating these signals into a trading bot, including copying and pasting codes and setting up message parameters. The speaker encourages viewers to experiment with different strategies to create a personalized passive income system.
🚀 Ethereum Squeeze Algorithm – A New Strategy
The speaker introduces a more advanced trading strategy based on the Ethereum Squeeze Momentum Indicator, which identifies rapid price movements and trades accordingly. They explain that the strategy is derived from the popular Squeeze Indicator, found through community scripts on TradingView. The speaker emphasizes that this algorithm signals when to buy during 'squeeze zones' and sell when momentum declines, thus optimizing profit-taking opportunities. Although this strategy is still being tested, the speaker expresses optimism about its potential.
💡 Building Strategies with MACD and Squeeze Indicators
The speaker explains how to adapt simple trading strategies, such as the MACD (Moving Average Convergence Divergence), which works similarly to the SMA strategy by tracking momentum. They describe using Pionex GPT to generate and modify code for these strategies. The speaker also discusses the Squeeze Momentum Indicator again, highlighting its popularity and ease of use. They share that with the help of ChatGPT and Pionex GPT, even users with no coding experience can create effective crypto trading strategies that function automatically.
💻 Final Thoughts on Trading Algorithms and Future Potential
In the concluding section, the speaker reflects on their crypto trading journey, discussing the profitability of their strategies and the benefits of automation. They reiterate that their bots consistently trade based on market conditions, allowing them to earn money without constant oversight. The speaker encourages viewers to explore Pionex GPT, the marketplace of pre-crafted solutions, and various types of bots, such as grid trading and DCA bots. They express enthusiasm about the future potential of these tools in both bullish and bearish markets, and offer a parting note to viewers to share their thoughts on the strategies discussed.
Mindmap
Keywords
💡Passive Income
💡Crypto Trading Bots
💡Simple Moving Average (SMA)
💡Crossover Strategy
💡Pionex
💡Backtesting
💡TradingView
💡Squeeze Momentum Indicator
💡GPT Marketplace
💡MACD (Moving Average Convergence Divergence)
Highlights
Introduction to the video, explaining the setting in Japan and the concept of passive income through automated trading bots.
Explanation of how using ChatGPT helped the speaker create trading algorithms for Bitcoin and Ethereum.
Overview of two trading bots being used: a Bitcoin trading bot and an Ethereum trading bot.
Bitcoin bot earned $62 in one day, and at one point, $250, based on a technical indicator using the 25-day and 50-day Simple Moving Averages (SMA).
The crossover between the 25-day and 50-day SMAs is used to generate buy and sell signals for the Bitcoin trading bot.
The Bitcoin bot sold at the right time during a bearish downturn, helping to save money, and bought again when bullish momentum returned.
Explanation of how the Ethereum trading bot works, with the speaker hopeful about its performance as Ethereum shows signs of a rebound.
Speaker uses Pionex GPT, a tool that automates trading strategies based on user input, such as the 25-50 SMA crossover strategy.
The trading algorithm can be backtested using TradingView with an example showing a 23% return on investment using $1000 in capital.
Modification of the algorithm to trade within specific date ranges, resulting in a 16% return for the month of March, showing promising results.
Introduction of the 'Ethereum Squeeze Trading Bot,' a more advanced strategy using the 'Squeeze Momentum Indicator' to detect volatility and profit from rapid price movements.
The Squeeze Momentum Indicator is popular and based on John Carter’s TTM Squeeze Indicator, identifying when to buy during low volatility and sell during high momentum.
The speaker used ChatGPT to convert the indicator into a fully functional trading strategy, automating buy and sell signals.
Backtesting of the Squeeze Momentum Indicator-based algorithm shows a 16% return over a month, with tighter profit margins and better market timing.
Conclusion: The speaker leaves code examples for viewers to copy, modify, or create their own strategies. They recommend the GPT Marketplace for ready-made algorithms and trading tools, and highlight the potential for generating passive income through crypto trading bots.
Transcripts
hey guys welcome back so I'm in Japan
today now before everybody gets mad at
me for being in Japan I just want to say
you too can be in Japan I know we all
want to be in Japan eat some Sashimi
I'll give you a room tour too show you
off this luxurious room but what you
need is passive income in order to
achieve that freedom of location you
don't want to be chained to an office
necessarily and so today I'm going to
show you how you can use chat GPT to
generate some passive income for
yourself so that you're making money
even when you're sleeping allowing you
to travel and still be able to support
yourself while you're at it so let me
show you these two automated systems
I've set up for myself these are two
trading buzz on crypto that have been
running just a few days and we can see
the Bitcoin trading bot has already made
62 dollars and one day it actually even
made 250 dollars the ethereum trading
bot is using a different algorithm I'm
still testing this one but it's up about
three dollars right now and I'm hopeful
that this one may perform better but
basically I'm using chat gbt to write
this coding trading algorithm for crypto
that I've always wanted to do do in my
head like I knew this would be a strong
technical signal it would be a good
algorithm that could possibly make some
decent money here and now I'm finally
able to implement that algorithm through
the help of chat gbt on the pionex
crypto trading bot platform now pad next
has also kindly sponsored this video and
if you sign up with them you'll get a
bunch of free goodies like over a
thousand dollars worth of bonuses so
check them out there'll be a link in the
description below and you can also get
started making passive income with
crypto trading Bots but enough talk
let's take a look at what I've done here
so this is the crypto trading algorithm
and this is actually based on a very
simple but quite a strong technical
indicator which is the crossover on the
25 simple day moving average and the 50
day so we can see here these are the
simple moving averages the 25 and 50 the
25 is the brighter orange line and
whenever the 25 crosses the 50 it puts
in a Buy Signal and when it crosses down
under it it puts in a Cell so this is
kind of a momentum trading algorithm I
have it operating on bitcoin and we can
just see anytime the 25 crosses over it
puts in the buy order and then when the
cross is under it sells and so we can
see this indicator can be quite useful
like here and put in the buy order right
before this huge price ramp up caught
this huge bull market move and then it
sold when the price started moving
sideways again and this can also protect
your Market position so we can see if
putting a sell order for me right here
this actually saved me a ton of money
because there was this bearish downwards
momentum and then later on just this
morning actually it rebought that
position when the 2550 simple moving
average crossed over again so that's
signaling a little bit more bullish
momentum now and we can see the trades
is making here actually so this was the
cell here on the 420 at 6 am is so my
position and that coincides exactly with
the daycare 420 at 6am right there so I
would have been sleeping at this time
but it caught that for me I think it's
funny actually shorted that position for
me so it earned 250 dollars in that
bearish downwards momentum and then we
can see there's another open position
for Bitcoin here and that's the position
if just bought this morning and so this
is one of two crypto trading Bots I'm
running the other one here
I have high hopes for this one it is the
ethereum squeeze trading bot I'll talk
about this in a moment but this one just
began running recently because ethereum
was kind of in the down market so it
didn't buy any positions now that I'm
starting to climb up again it recently
opened the position so we'll see how
this one goes but here's how I'm doing
this and you can do something similar as
well you don't actually need technical
knowledge to do any of this it's very
simple you can just click a few buttons
If you want to earn some passive income
with this as well although you'll take
note there's some risk as well do your
own research of course and start small
but you go into more and then you click
pan next GPT now here you can ask
pionexgpt what type of trading algorithm
you want so I say give me a trading
strategy on the SMA 2550 because I know
this is a pretty strong technical
indicator it's been reliable for me in
the past and it's going to just turn out
this algorithm here now once you have
the code you can click copy and back
test on trading View and it takes you to
the charting platform trading View and
you can just come into the plan editor
and copy and paste in that code now take
note you may have to make a few small
small code modifications here because
chat GPT doesn't necessarily get
everything right right away but you know
you can also come into this GPT
Marketplace here and there's a bunch of
pre-crafted solutions here that other
people have written and back tested and
you can check their performance and then
you can just copy trade these with a
single click of a button but if we come
back to here I'm going to click add the
chart it's going to compile that and we
can see it's actually putting in the buy
and sell orders here to show us when
it's doing that and so just like that so
simple we have this crypto trading
algorithm that I've always wanted to
implement in my head and we can actually
back test this just to check the
performance we go into the strategy
tester I'm going to set the properties
for this so we'll say maybe initial
capital of a thousand dollars and we'll
do thousand dollar order sizes or so and
then if I click OK it's going to show us
the back tester performance about 23
positive return on investment which
seems pretty good and is something I'm
willing to try on and test my money on
here now if you want to back test the
strategy from just the last month or so
on a technical note I realized that you
can actually modify the algorithm to
just trade within say from March 1st or
so so we can actually go back to Panax
GPT and modify the algorithm to be valid
from March 1st sure to modify the
algorithm we can add a simple condition
to check the date so it's going to do
that for us we've got a timestamp now so
I'm going to copy and paste this add it
to the chart and I had to modify the
timestamp parameters a bit but now we
can see it's only going to trade from
March 1st and so now if I run this back
test again we can see just within the
last month it averaged about 16 percent
positive return which annualized across
the year is almost like 200 apy which
would just be fantastic so I'm leaving
this crypto trading bot open just to see
what type of deals it can return for me
and you know the great thing about this
is is not trading based on emotion it's
just doing the trade space on the 2550
simple moving crossovers now once you
have this trading algorithm set up just
the way you want you want to choose the
time scale you want the iPhone set to
hourly or so then you come into pan X
and you can click a trade and create a
signal trading bot so this is going to
trade automatically based on trading
view custom signals so we'll call it the
BDC SMA 2550 or so click continue then
you're going to choose the web hook URL
copy that come into trading signal and
click on this alarm icon notifications
and paste in that webhook URL so you
paste that then it's going to send the
signal back to Planet X and then you're
going to want to copy this message
parameter so it's just a field here come
into settings and paste that here as
well and with that you click confirm and
your trading bot is created and then you
just choose the trading pair you want in
this case I'm doing Bitcoin you can
actually have leverage if you like as
well and then just choose how much you
want to put in and it's actually going
to start the learning and showing this
bot algorithm trading for you and so
that's a simple way to start trading
momentum on crypto and earn some passive
income in any type of Market whether
it's an up Market or a down market and
so if you like this algorithm I will
leave the code on screen here you can
screenshot it if you like and copy
modify however you like you know I could
probably charge something for this
crypto trading algorithm but you know
I'm a kind generous person but I also
want to show you another algorithm here
that I've been working on and this is
the ethereum squeeze algorithm now this
algorithm is just for the contest yours
it's custom stuff actually I've yet to
test it but I have high hopes for it but
before I get into this I also want to
show you by the way you can also use a
very simple strategy if you want to do
the simple moving average stuff you can
just do use macd to buy and sell so from
Panax GPT you can ask it for an macd
algorithm macd is moving average
convergence Divergence which is
basically very similar to what we just
did is trading on momentum when the
simple moving averages crossed this one
is actually based on the 1226
exponential moving average so it's kind
of similar basically similar Trends and
this one you can just copy and use this
code right away or again you can also
just go to the GPT Marketplace and it's
going to have all these algorithms that
you can just really quickly get in on so
definitely some fun stuff to play around
with but let me show you how I got to
this connoisseur algorithm that I'm
talking about the squeeze algorithm so
let's take a look at this algorithm we
can see it actually just got started
yesterday so I've yet to really fully
test this but it has already been in
profit making three bucks here could be
good so this algorithm is pretty
Advanced actually it's using something
known as The Squeeze momentum indicator
and the way I found this by the way is
if you go into Community scripts and you
sort it by the top most popular scripts
you can see the number one here is the
squeeze momentum indicator by lazy bear
and if you actually go into the
documentation here we can see that it's
based on This research paper John
Carter's TTM squeeze volatility
indicator in this book mastering the
trade okay now apparently this indicator
is so popular 83 000 people have liked
it but what this does is it identifies
price bands the Bollinger Bands and when
the prices within those bands it says
okay there's not much movement here so
it's not going to make a trade long
story short it identifies these squeeze
zones when there's rapid price movement
the price is squeezed either upwards or
downwards and that's indicated by these
gray crosses here on the timeline and
then there's also these black crosses
here and the black crosses we can see
the price isn't really moving then
there's these gray crosses here rapid
price movement and then when the moment
momentum goes down negative then that's
when you want to sell and then when
there's a squeeze Zone here again you
want to buy it and then sell again when
the momentum turns red we can see here
actually though even though there's
green momentum it's not a squeeze Zone
and so in this section it says you don't
necessarily want to buy here because the
price movement is pretty neutral so you
only want to buy when there's this
confirmed upwards Trend so what I did is
I actually took this code you can
actually come here see the source code
and you can just copy that now the
problem here is that this code is just
an indicator it's not a trading strategy
and so it needs to be modified into a
trading strategy with buy and sell
signals right now it's just a bunch of
charts which is nice but you want to
automate the trading for it and so I
came into pinex GPT again I copied and
pasted this code and told Pi next make
it a strategy because hey who wouldn't
want the trade based on the most popular
technical indicator around here and then
plant next gbt basically helped me turn
this into a piece of working code now
take note I have no idea how to write in
this language it's Pine script are
basically using chat GPT and a bit of
human modification I was able to get
this code running I essentially changed
it from a study into a strategy and then
I added buy and sell signals here for
when to go long and when to close that
long and I said okay here's the
timestamp started from March 1st again
like usual and so now when I add this to
the Chart or voila this may be exactly
what's going to be making me Rich you
guys like this could be my ticket either
here because this is showing exactly
when I need to go long or to close these
loans based on the squeeze momentum
indicator which is like the number one
indicator out here we've got tens of
thousands of people following this thing
so showing you right here for example
when there's this gray Zone here on the
origin axi this is when there's a
squeeze coming in it's going to long red
there and it's going to sell right when
the momentum turns negative even a
little bit so it's going to lock in
these little profits for me just
whenever I needed to so this one is
really only doing loans I don't have a
shorting anywhere and so we can see
right here it's going to go long and
then sell right when the momentum turns
negative and so the indicators are going
to have tighter margins The Profit
signals may be much clearer I mean we
can backtest this as well just to see
like how rich am I going to be out here
you guys and we can see over the past
month The Profit has been about 16
return on investment which is maybe
similar to the simple moving average
strategy there's a 2.3 x profit Factor
35 trades are profitable and the max
drawdown here just about 70 usdt which
is pretty good based on putting in 1000
USD to the initial Capital so personally
I'm hopeful that this crypto trading
algorithm strategy may make me riches
some passive income at least or at least
get me an entry into some of these
trades maybe help me dollar cost average
and here's the source code if you want
to copy and paste any of it modified as
you wish but it's very similar to the
original code with just a few
modifications you know one Improvement
is you can make it short the markets as
well currently it just does loans but
even if you don't want the code you can
always come to the GPT Marketplace on
pan X and there's all these pre-crafted
trading strategies you can play with and
Beyond the custom coding algorithm Bots
you also have like grid trading Bots DCA
boss rebalancing Bots to our futures
Arbitrage Bots and so a lot of the tools
to play with here to help us make money
in any type of Market whether it's a
full Market bear Market or sideways
Movie Market which seems to be what
we're in right now and personally I love
how these Bots are watching the markets
24 7. so sometimes I just get a
notification on my phone like hey a buy
order has been placed and I'll take a
look and yeah there's a rally coming in
or suddenly there's a sell order and
I'll see I'll keep the Market's taking a
downturn so I don't have to worry as
much because the boss are making the
trades for me faster than I can more
unemotionally than me and I know that's
hard to believe but that's how it is so
if you want to check them out as well
pandex they've got all these bonuses for
you their Futures bonuses like over a
thousand dollars worth of bonuses you
can sign up in the description link
below other than that hope you learned
something new today let me know your
thoughts on these crypto trading
algorithms you think they'll work for me
think I'll be rich see you in the
comments below I'll see you at the top
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