He earns $70,000 thanks to a trading robot created with Chat GPT

April 26, 2024 12:58 UTC+2
| 2 min read

chatgpt $70k

Artificial intelligence is transforming many industries, and crypto trading is no exception. Rekt Fencer, an anonymous trader on Han even shares a tutorial with us.

The recipe for success


The process begins by manipulating the band parameters. Bollinger on TradingViewa platform popular for its in-depth market analysis.

This choice is not trivial: Bollinger bands are famous for their ability to signal price movements outside their normal limits. We will explain all this in detail below.

Rekt Fencer then programs his bot to buy when the price exceeds the upper band and for sell when it crosses below the lower band. This digital ballet, punctuated by market fluctuations, allows the bot to capture profit opportunities almost instantly.

Tutorial


Rekt Fencer begins by explaining that he had no coding experience. And to prove his success (and his good faith?), he even decided to share a complete tutorial, also included the prompts used on Chat GPT. The tutorial is in this thread:

Keep your feet on the ground


Despite the excitement generated by such success, Fencer remains aware of the risks of automated trading. He recommends start with cautionby testing the strategy with small amounts before committing further. This approach is essential because a misconfiguration or error can lead to large losses.

The story of Rekt Fencer is more than a success story; it is a lesson about AI’s potential for commerce.

It is not just a matter of automating transactions, but of understanding and mastering the tools available maximize their potential. Trading bots, like Fencer, require detailed understanding technology and market principles to truly excel.

Bollinger Bands


A small reminder of the concept seems appropriate. Bollinger Bands is an analysis tool, used to measure market volatility And identify overbought or oversold. Imagine a road with two dividing lines on either side: the middle line represents average price over a given period (usually 20 days), and the outer lines adjust according to standard deviation of prices.

These bands help identify when to buy or sell:

  • If the price of a crypto falls below the lower band, it may be undervalued (buy signal).
  • If the price exceeds the upper band, it may indicate overvaluation (sell signal).

It is just one of dozens of indicators available, and as it is recognized in Trad Fi, it is often used in De Fi.


Source: Rekt Fancer (X)


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