Plan Your Trades with ChatGPT
Simplify trading with AI.
If you’re a trader, you know the value of a solid trading plan. It’s your map, your compass, and your life raft when the markets do its thing.
But creating one from scratch every day or week?
That can be a grind. Enter ChatGPT.
Let me show you how to use this nifty AI to create personalized trade plans using my own methodology and format.
Spoiler: It’s not just for futures—you can adapt it to stocks, ETFs, cryptos, or whatever you trade.
Here’s a step-by-step guide with example prompts and responses to help you get started.
Step 1: Tell ChatGPT What Role to Play
To get the best results, start by telling ChatGPT to act as your experienced, consistently successful futures trader who will guide you through your trade validation process.
User Prompt:
"You are an experienced, consistently successful futures trader.
I want you to understand my trading method, and I'll provide daily level readings. As an expert, I’d like you to create the day’s trading plan based on my format.
This will be an interactive process. After each step, you’ll confirm that you understand the instructions and data, and are ready for the next step.
I will ask you to remember my trading method as "MyTradingNQMethod" and the trading plan format as "MyDailyNQTradePlan" so we can refer to them daily when preparing the trading plan.
Please confirm if you understand, and feel free to ask any clarifying questions if needed."
ChatGPT Response:
I understand your instructions. You want me to prepare a daily trading plan based on your method, using the levels you provide, in the format you specified. We will go through the process interactively, and I’ll confirm each step before moving forward. I’ll remember your trading method as "MyTradingNQMethod" and the daily plan format as "MyDailyNQTradePlan" Let me know if you're ready to proceed!
This establishes the context for your session and ensures that ChatGPT responds as a knowledgeable trading mentor.
Step 2: Share Your Trading Method
Start by jotting down your trading method. Be detailed, but don’t worry—it doesn’t mind reading long texts! This includes:
How you confirm entries (e.g., candle closes, breakout retests).
Your stop-loss and target guidelines.
Position sizing rules.
Timeframes for setups and entries.
Special rules for trailing stops and partial exits.
Here’s an example of a concise trading method you can share with ChatGPT:
User Prompt: "Here’s my trading method:
Use 15m/hourly candles for intraday setups.
Target a minimum 1:2 risk/reward ratio.
For #NQ trades, use 20-25 point stop losses for intraday trades and target 40-50 points.
Can you remember this as 'MyTradingNQMethod'?"
ChatGPT Response: "Got it! Your trading method is now saved as 'MyTradingNQMethod.' I’ll apply this methodology whenever you request trading plans. Let me know if you want to refine or add details."
The more details, nuances, and exceptions you share about your method, the better the trading plan ChatGPT can create.
Step 3: Define Your Trading Plan Format
Next, Decide what your trade plan looks like. Mine, for instance, includes:
Intraday Long and Short Trades (Breakout, Rejection, Support Hold).
Swing Long and Short Trades.
A summary table with trade types, entry levels, SLs, targets, and reward-to-risk ratios.
Share this structure you want for your trading plan with ChatGPT.
User Prompt: "Here’s my trading plan format:
Two Intraday Long Trades (Breakout, Support Hold)
Two Intraday Short Trades (Breakdown, Resistance Rejection)
One Swing Long Trade
One Swing Short Trade
Each trade must include entry, stop-loss, targets, total points, and reward-to-risk ratios. Add a summary table for clarity. Call this format 'MyDailyNQTradePlan.' Can you remember it?"
ChatGPT Response: "Understood! I’ve saved your trading plan format as 'MyDailyNQTradePlan.' Each plan will follow this structure, including clear tables and details as requested."
Step 4: Provide Key Levels for the Day
Once your method and format are saved, supply the day’s levels and ask ChatGPT to generate a plan.
User Prompt:
"Here are today’s levels for #NQ:
Intra-day supports: 21560, 21500/480, 21345*, 21230, 21180*
Daily supports: 21230/210*, 21000/20930, 20805*
Weekly supports: 21210*, 21000*/20930, 20510*/405*
Intra-day resistances: 21625/660*, 21710, 21770/810*
Daily resistances: 21810*/900*, 22000, 22135
Weekly resistances: 21750*, 21900*, 22080
Use 'MyTradingNQMethod' and 'MyDailyNQTradePlan' to create today’s trading plan."
ChatGPT Response: "Here’s your trading plan for #NQ:
Key Levels Summary
Intra-day Supports: 21560, 21500/480, 21345*, 21230, 21180*
Intra-day Resistances: 21625/660*, 21710, 21770/810*
Daily Supports: 21230/210*, 21000/20930, 20805*
Daily Resistances: 21810*/900*, 22000, 22135
Weekly Supports: 21210*, 21000*/20930, 20510*/405*
Weekly Resistances: 21750*, 21900*, 22080
1. Intraday Long Trades
a. Breakout Long
Entry Level: Above 21660
Stop-Loss: 21635 (-25 points)
Targets:
Target 1: 21710 (+50 points, R:R 2:1)
Target 2: 21770 (+110 points, R:R 4.4:1)
Target 3: 21810 (+150 points, R:R 6:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 20 points.
b. Hold Momentum at Support
Entry Level: Near 21500
Stop-Loss: 21475 (-25 points)
Targets:
Target 1: 21560 (+60 points, R:R 2.4:1)
Target 2: 21625 (+125 points, R:R 5:1)
Target 3: 21660 (+160 points, R:R 6.4:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 20 points.
2. Intraday Short Trades
a. Breakdown Short
Entry Level: Below 21500
Stop-Loss: 21525 (-25 points)
Targets:
Target 1: 21480 (+20 points, R:R 0.8:1)
Target 2: 21345 (+155 points, R:R 6.2:1)
Target 3: 21230 (+270 points, R:R 10.8:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 20 points.
b. Rejection at Resistance
Entry Level: Near 21660
Stop-Loss: 21685 (-25 points)
Targets:
Target 1: 21625 (+35 points, R:R 1.4:1)
Target 2: 21560 (+100 points, R:R 4:1)
Target 3: 21500 (+160 points, R:R 6.4:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 20 points.
3. Swing Trades
a. Swing Long
Entry Level: Near 21230
Stop-Loss: 21200 (-30 points)
Targets:
Target 1: 21345 (+115 points, R:R 3.83:1)
Target 2: 21500 (+270 points, R:R 9:1)
Target 3: 21625 (+395 points, R:R 13.17:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 30 points.
b. Swing Short
Entry Level: Near 21770
Stop-Loss: 21800 (-30 points)
Targets:
Target 1: 21660 (+110 points, R:R 3.67:1)
Target 2: 21560 (+210 points, R:R 7:1)
Target 3: 21345 (+425 points, R:R 14.17:1)
Position Sizing: Start with 4 contracts.
Close 2 at T1, 1 at T2, 1 at T3.
Trailing Stop: After T1, move SL to breakeven. Trail by 30 points.
5. Fine-Tune and Iterate
ChatGPT isn’t perfect. Sometimes, it misses a point or messes up a calculation. Be ready to review its output and refine your prompts. Think of it like teaching a bright student—you’ll need patience and clarity. Be specific about what’s missing or incorrect. For instance:
User Feedback: "You missed adding notes about using lower timeframes for better risk/reward entries. Please revise."
ChatGPT Response: "Apologies! I’ve updated the plan with notes on using lower timeframes to refine entries after breakouts for better risk:reward ratios"
6. Adapt for Any Asset or Strategy
This method isn’t limited to futures. Use it for stocks, ETFs, crypto, or any asset class. Want to use someone else’s method? No problem—just adjust your methodology and plan format accordingly.
Final Thoughts
Remember, it’s a tool— your assistant not your guru or substitute for your judgment. Use it wisely, and it’ll save you time while keeping you disciplined. Always review the plans, refine prompts, and adapt as needed.
After all, even ChatGPT is a work in progress—just like your trading skills!
Try using ChatGPT to create a trade plan based on your method or one you follow and share your experience!
Did you learn something new? Was it helpful?
Let me know in the comments—and don’t forget to like and restack and repost on social media!