How I Use ChatGPT AI to Make a $1000 Per Trade Trading Strategy (STEP BY STEP)

Summary

This 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

00:00

🤖 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.

05:00

📈 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.

10:00

📊 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.

15:02

🚀 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.

Keywords

💡Trading Strategies

Trading strategies refer to systematic approaches used to make trading decisions in financial markets. In the video, the presenter emphasizes that the best trading strategies are often simple and can be enhanced with tools like ChatGPT and TradingView to develop profitable models.

💡ChatGPT

ChatGPT is an AI language model developed by OpenAI that can generate human-like text based on the input it receives. In the context of the video, ChatGPT is used to create Pine Script code for trading strategies, demonstrating its capability to understand and generate programming scripts for financial applications.

💡TradingView

TradingView is a popular charting and analysis platform for financial markets. The video shows how TradingView can be used in conjunction with ChatGPT to implement and visualize trading strategies, making it easier for traders to develop and test their ideas.

💡Pine Script

Pine Script is the programming language used by TradingView to create custom technical analysis indicators and strategies. The video tutorial demonstrates how to use Pine Script to code a moving average crossover strategy, highlighting its simplicity and flexibility for trading purposes.

💡Moving Average Crossover

A moving average crossover is a trading strategy that signals buy or sell opportunities when two moving averages (short-term and long-term) intersect. In the video, the presenter uses a 10-period and a 100-period moving average to illustrate how this crossover can be programmed and used to identify trading signals.

💡User-Defined Inputs

User-defined inputs allow traders to customize parameters within their trading scripts. The video showcases how to create a Pine Script code that lets users modify the periods of the moving averages and the time window for valid trading signals, providing flexibility and personalization in trading strategies.

💡Labels

Labels in Pine Script are used to mark specific points on a chart, such as buy and sell signals. The video demonstrates how to add labels to indicate where the moving averages cross, making it easier for traders to visualize and act on these signals within their trading strategies.

💡Time Filter

A time filter restricts trading signals to specific hours of the day. In the video, the presenter modifies the Pine Script to include a time filter, ensuring that buy and sell signals are only valid during user-defined hours, which helps improve the accuracy and relevance of the trading signals.

💡Profit Target

A profit target is a predefined level at which a trader exits a trade to secure profits. The video shows how to set a profit target of 100 points in the Pine Script, enabling the strategy to automatically take profits when the specified level is reached, thereby reducing the risk of losing potential gains.

💡Backtesting

Backtesting involves testing a trading strategy on historical data to evaluate its effectiveness. The video implicitly suggests backtesting by demonstrating how the modified Pine Script can be applied to historical charts in TradingView, allowing traders to see how the strategy would have performed in the past.

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