How to Achieve $3800 Daily with ChatGPT Trading Bot Setup

Profitable Trading Bot with ChatGPT: $3800 Daily

Welcome! Today, I’ll guide you through creating and running a profitable trading bot with ChatGPT, a setup that’s consistently earning me $3800 daily. You might think this sounds complex, but it’s actually straightforward, and you don’t need any coding skills. Let’s dive into the simple steps of setting up this ChatGPT trading bot, which could transform your trading approach and boost your passive income.

We strongly recommend that you check out our guide on how to take advantage of AI in today’s passive income economy.

Introduction to ChatGPT Trading Bot Setup

The ChatGPT trading bot setup is designed to monitor Ethereum’s blockchain for new tokens and significant price changes. When it detects an opportunity, it acts quickly, buying or selling tokens before most traders even notice. This proactive approach gives us a significant advantage, allowing us to profit from price differences.

With the magic of AI-powered ChatGPT, this bot identifies tokens during listings or sudden price movements using smart algorithms. The result? You can sit back and watch the profits roll in. If you’re thinking this sounds too complicated, don’t worry. The setup is straightforward, and you don’t need any coding experience. Stick around, and I’ll walk you through the entire process.

Step 1: Writing the Smart Contract Code

Let’s start by asking ChatGPT to write the code for a smart contract on Ethereum. This contract will automatically hunt for sniping opportunities to earn Ethereum. Simply request ChatGPT to generate the code, and it will create a script better than most human developers could.

Once you have the code from ChatGPT, it’s time to move on to Remix, a Web3 application that allows us to develop, compile, deploy, and launch smart contracts written in Solidity. I’ll include a link to Remix in the description. Before diving into Remix, make sure you have the MetaMask browser extension installed and connected to the Ethereum mainnet.

Step 2: Setting Up Remix for Deployment

If this is your first time using Remix, you might need to agree to their terms. Once you’re in, go to the sidebar on the left and create a new contract under the contracts folder. Name it “bot_doso” or whatever you prefer.

Copy the code provided by ChatGPT and paste it into the bot_doso file. This file contains our sniping trading bot. I’ll also place this code in the description for you to copy. Double-check lines 50 and 51 after pasting the code. These addresses are for Wrapped Ether tokens that you’ll be competing against, but you don’t actually need any Wrapped Ether to proceed.

Step 3: Compiling the Smart Contract

With the bot file ready, it’s time to compile it. Click the compile button in Remix. Ensure that the compiler is set to version 0.6.0 to match our contract, and the language is set to Solidity with the EVM version set to default. Once everything is set, click on the compile button and wait for the process to complete.

Step 4: Deploying the Smart Contract

Next, go to the “Deploy and Run Transactions” tab in Remix. Select the “Injected Web3” environment to deploy the contract. You’ll need to confirm the contract on the blockchain by paying gas fees, which are commissions on the Ethereum network for smart contract deployment.

I recommend setting the gas fee to high. This typically doesn’t cost much more but processes the transaction faster. Click “Deploy” and wait for the transaction to confirm. Once confirmed, you’ll see the smart contract deployed and ready for use.

Step 5: Funding the Contract

Now that the smart contract is deployed, it’s time to fund it. Add some ETH to the contract for trading—typically 0.5 to 1 ETH or more. Using less than this amount can make it difficult to get profits due to high transaction costs. For instance, a $500 transaction with 10% slippage might cost $80 in gas fees, leading to potential losses.

However, a $5,000 transaction with the same slippage and gas fees will result in a net profit. Make sure the funds are correctly sent to the contract by checking your contract address on Etherscan to ensure the Ethereum is in the contract.

Step 6: Starting the Trading Bot

With the funds in place, click “Start” to enable the bot. This action will make the bot begin scanning the mempool for different liquidity pairs to sandwich transactions. Set the gas to high and confirm the transaction.

Step 7: Monitoring and Profiting from the Bot

After setting up the bot, let it run for a while to observe its performance. For example, after running the bot for 12 hours, you might see a profit of around 1.31 ETH, representing a 31% gain. Keep the bot running for another 12 hours to potentially increase your profits.

For instance, after running the bot for a day, you could have earned over half of your initial deposit. The bot will continue to operate until you choose to withdraw the funds. When you’re ready to stop, click “Withdraw” to stop the bot and return the initial Ethereum plus any profit to your wallet.

Step 8: Withdrawing the Profits

To withdraw the profits, click the “Withdraw” button, which will charge a small gas fee. Set the gas fee to high to ensure a smooth transaction. Once the withdrawal transaction is confirmed, check your MetaMask wallet to see the updated balance.

In my experience, I’ve made between 3 to 6 ETH in a week, with some variations in profits. Share your results in the comments below, and if you found this guide helpful, please drop a like and subscribe for more passive income tips using Web3 tools.

Conclusion

The ChatGPT trading bot setup is a powerful tool for anyone looking to earn passive income from Ethereum trading. By following these steps—writing the smart contract code, setting up Remix, deploying the contract, funding it, and starting the bot—you can leverage the power of AI to make significant profits.

Remember, while the setup is simple, the profits can vary, so monitor the bot’s performance and adjust as needed. Happy trading!

FAQs:

Can I use ChatGPT to create a trading bot?

Yes, you can use ChatGPT to help create a trading bot. While ChatGPT itself doesn’t execute trades, it can generate the necessary code for a trading bot based on your requirements. By providing prompts and specifications, you can use ChatGPT to write scripts, design algorithms, and even develop smart contracts for blockchain-based trading. It’s a powerful tool for anyone looking to automate trading strategies without needing to write all the code manually.

How to automate trading using ChatGPT?

Automating trading with ChatGPT involves several steps. First, you need to define the trading strategy you want to automate. This could include parameters like specific market conditions, buy/sell triggers, and risk management rules. Once you have a clear plan, you can prompt ChatGPT to write the necessary code for a trading bot. This code can then be implemented in a trading platform or a blockchain environment. After deployment, the bot will execute trades based on the logic you’ve defined, allowing you to automate your trading process efficiently.

How to set up an AI trading bot?

Setting up an AI trading bot using ChatGPT starts with outlining your trading strategy and goals. You would then prompt ChatGPT to generate code for the bot, which could be in the form of a Python script, a smart contract, or another type of automated trading script. After getting the code from ChatGPT, you would deploy it on a suitable platform, such as a crypto exchange or a decentralized application (DApp). You might need to test and adjust the bot’s parameters to ensure it performs as expected. Once the setup is complete, the bot can trade autonomously based on the AI-generated strategy.

Can you use ChatGPT to trade?

ChatGPT itself does not trade, but it can be used to create the tools and code necessary for trading. By generating trading algorithms, smart contracts, or scripts, ChatGPT enables you to build a bot that can trade on your behalf. This AI-assisted approach allows you to implement sophisticated trading strategies without needing advanced programming skills. However, while ChatGPT can help with the setup and automation of trading, the actual execution of trades is handled by the bot you create, typically on a trading platform or blockchain.