Trading using ChatGPT
Wouldn't it be great to know what ChatGPT (opens in a new tab) thinks about a particular market direction ?
While ChatGPT can't directly answer question such as "Will BTC/USD go up tomorrow ?", it can answer many related questions including forecasting trends.
This is a great opportunity to take advantage of the extremely powerful AI that is ChatGPT (in version 3 or later) and integrate it directly in your trading strategies.
In this video, we are showcasing a ChatGPT trading strategy we created on OctoBot cloud (opens in a new tab). We show what it looks like and how it performs.
Starting from OctoBot 0.4.47, we added a new evaluator: the
GPTEvaluator. This evaluator can be used directly with the profile
When enabled, it will automatically ask ChatGPT about is opinion on every traded pair, on each time frame.
The type of data given to ChatGPT can be configured: the value of the asset price or different kind of technical evaluator can be sent to ChatGPT for it to make its opinion.
GPTEvaluator behaves like any other technical evaluator, this means that it can combined with others, used to trade, to create trading signals or to notify you when the situation changes.
You can therefore:
- Automatically trade based only on ChatGPT's predictions
- Trade combining ChatGPT's predictions with other evaluators
- Get ChatGPT's view on the market at anytime from the web interface and market status and get notified on any change
We've also set up a page where you can follow the latest ChatGPT crypto trading signals. The goal of this new page is simple. It's to show you the latest crypto trading signals from our ChatGPT strategy. This way, you can see how it works and confirms that it actually works.
For more real-time information, we've also created a Twitter / X account (opens in a new tab) and Telegram channel (opens in a new tab) publishing new signals. By following these accounts, you can get immediate notifications on the latest signals, making it easier to stay informed about the crypto market.
Check out our Trading with ChatGPT signals blog article for all the details about those trading signals.
As ChatGPT's automated calls is a paid feature from openai.com (opens in a new tab), there are 3 ways to use it in OctoBot.
When using Pro cloud OctoBots, you will be using our subscription to openai.com (opens in a new tab). This means that we will cover the costs of your requests to ChatGPT ourselves so that you don't need to worry about it.
To use ChatGPT from your self hosted OctoBot (meaning OctoBots that are not running on OctoBot cloud), you have to provide your how OpenAI API key and store it into your OctoBot configuration. The regular OpenAI pricing will then be applied.
More details on how to setup ChatGPT and how to estimate the cost of its requests on the ChatGPT guide