A guide on using AI (ChatGPT) for scalping CC’s.
4 min read
So I began day-trading crypto’s a while back with many different outcomes. My main process was just watching the price and making decisions based on intuition and visual cues. The results were decent but nothing spectacular.
Because I still have a full-time job as a software engineer during the day, I couldn’t just stay be watching the whole time. So I started wondering if there was a way to automate the visual assessment, without having to constantly do all the work myself. That’s when I started experimenting with uploading screenshots of the price action into AI and asking for analysis.
Important disclaimer: this is not advice so do not take it as such
Pre-requisites
You’ll need access to a premium AI model like GPT-4o/Xynth/Claude3.7 . This is a must. Free models just don’t offer the quality or usage limits needed for this.
Some newer tools ie.,Xynth come with data collection features pre-built, making them easier and more grounded than traditional models. I’ll be breaking down the method for xynth/gpt-4o in parallel.
Step 0: System prompt
Most AIs will hesitate to give you valuable analysis unless guided correctly. So we first give it specific instructions to steer it.
Here it is for gpt:
Yeah, it sounds a little repetitive and silly, but they work. Took me a lot of experimenting to get it here. Feel free to adjust it based on your circumstances. You can skip this step if you’re using xynth.
Step 1: Gather the data
If you are using chatgpt for this guide, then you will need to give it an idea of what the price action for your selected coin currently is. Head over to TV apply your set of technical indicators and take a screenshot. Here I used, BB and volume.
Otherwise if you are using and LLM/AI with the data fetching built in you can enter:
Step 2: Conduct technical analysis
Now upload the gathered data and ask for an analysis.
For xynth/newer models you can skip the upload, and just ask for the analysis directly
Step 3: Come up with potential setups
Rather than looking for a single prediction, you want the AI to generate multiple plausible scenarios based on the data. This forces consideration of different outcomes and prevents tunnel vision on a single expected result. By requesting varying assumptions, you’re stress-testing the analysis against different conditions.
This approach acknowledges uncertainty in any analysis and prevents overconfidence in a single interpretation of the data.
Step 4: Verification and Execution
This is perhaps the most critical step. AI is ur tool, not a decision-maker. The goal is use AI to augment your decision-making process NOT replace it. Sometimes I do not agree at all with the its suggestion and so will not enter. Other times I just enter but monitor the price-action closely for possible exits. You want to repeat steps 3 and 4 until you are satisfied with the outcome.
Final remarks
At the end of the day, AI is just another weapon in your arsenal. It’s still on you to call the shots. There are so many ways to use AI in this field — this is just one of them that’s worked for me.
I am curious to know if any one here is already using it in there dtd process.
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