How to build an AI crypto trading bot with custom GPTs
AI is reshaping interactions in financial markets, particularly in cryptocurrency trading. With OpenAI’s Custom GPTs, users can create trading bots that analyze data and execute trades. This guide outlines building an AI crypto trading bot, starting with defining a simple trading strategy like buying when Bitcoin’s price drops by 3% or when the RSI exceeds 70. Users need a ChatGPT Plus subscription, a crypto exchange account with API access, and basic programming knowledge. A step-by-step approach is detailed: define the strategy, create a custom GPT, generate the bot code with sample scripts, implement risk management, and test in a paper trading environment before live deployment. Essential practices include securing API keys and starting with minimal capital to manage risks effectively. Despite the potential, users should be aware of risks like market volatility, API errors, and security vulnerabilities. The guide emphasizes continuous testing and monitoring of the trading bot.
Source 🔗