30-Day Trading Challenge Using ChatGPT: What I Learned
I decided to do a 30-day crypto trading challenge using Chat GPT, focusing on lesser known cryptocurrencies. My goal was to see if AI could help me pick smaller, emerging cryptos and if I could make a profit. Here’s what happened, step by step.
Starting the Challenge
I began by creating a simple plan. Each day, I would ask Chat GPT to suggest a cryptocurrency to buy. I would buy it, hold it for 24 hours, then sell and ask for a new pick. This went on for 30 days.
On the first day, Chat GPT suggested Vechain ($VET ), a cryptocurrency I hadn’t traded before. It’s used to track supply chains and logistics. I invested $100 and bought 2000 VET. The price didn’t change much by the end of the day, but I was ready to try again.
The First Week: Ups and Downs
In the first week, I made 5 trades. Only 2 of them were profitable, and I lost $4 overall. Some days, Chat GPT suggested cryptos I had never heard of, and a few picks repeated from previous days. This made things frustrating, but I kept going.
Week 2: Some Patterns Appeared
By the second week, I started noticing some patterns. Chat GPT suggested cryptos that had been gaining attention recently, often due to partnerships or new projects. For example, Hedera ($HBAR ) was suggested multiple times because it’s known for its high-speed blockchain, and Zilliqa (ZIL) kept popping up because of its focus on scaling blockchain systems. It seemed Chat GPT was paying attention to the hype and momentum around certain coins.
A Big Break: Basic Attention Token (BAT)
Around the middle of the challenge, Chat GPT suggested Basic Attention Token ($BAT ), a crypto used for digital advertising. BAT had some strong updates with its partnerships with web browsers. The price of BAT went up by 25% in 24 hours! This was a big win and helped recover some of my earlier losses.
End of the Challenge: The Results
By the end of 30 days, I made 21 trades. Out of those, 12 were profitable, and I made a total of $51. The biggest win came from BAT, where I made $30. Overall, I ended up with a 51% return on my initial investment.
Lessons I Learned
1. Ask Better Questions: The questions I asked Chat GPT really affected the crypto picks. When I specified that I wanted coins with recent partnerships or technology updates, I got better suggestions.
2. Understand Market Volatility: The crypto market is highly volatile. Prices can go up or down quickly, so I learned not to get discouraged by short-term losses and to stay focused on the long-term picture.
3. Use Zero-Commission Platforms: One key thing that helped me was using Binance, which offers low trading fees. This saved me money on each trade and allowed me to keep more of my profits.
4. Prompt Engineering: Small changes in the way I asked Chat GPT for help made a big difference. I learned that I had to refine my prompts to get the best suggestions for emerging cryptos.
Conclusion
The 30-day challenge taught me a lot about how AI can help with crypto trading, especially with lesser-known coins. I was able to make a profit even though I faced some losses along the way. By focusing on emerging projects and using the right strategy, I realized that there’s potential for growth in smaller cryptos. I’ll continue applying these lessons to make smarter trading decisions in the future.