The ChatGPT Trading Masterclass You Won't Find Anywhere Else (News | Options | Psychology) — Transcript

Full transcript

1. 0:00AI is taking over trading. But the
2. 0:02smartest traders are not using it to
3. 0:04replace themselves. They're using it to
4. 0:06enhance themselves. If you're new here,
5. 0:08I'm Lance Breitstein, ex-Trillium top
6. 0:10trader, market wizard with over a
7. 0:12hundred million dollars in verified
8. 0:13profits, mentor to seven and
9. 0:15eight-figure traders, and someone who
10. 0:17spent over a decade looking for every
11. 0:20possible edge in the markets. Today, I'm
12. 0:22showing you five ways I use ChatGPT to
13. 0:25boost performance, sharpen my
14. 0:27psychology, and make better trading
15. 0:29decisions. Plus, I'll share the exact
16. 0:31prompts that I use. The first creative
17. 0:33way I've seen traders use ChatGPT is to
18. 0:36turn it into your very own trading
19. 0:38psychologist. But first, let me dismiss
20. 0:41a myth. AI will not make traders
21. 0:43obsolete anytime soon. Maybe one day,
22. 0:45but certainly not today. Every major
23. 0:48technological shift in markets has
24. 0:50followed the same pattern. Some traders
25. 0:52vanish, the best ones evolve. When
26. 0:54electronic trading replaced pit trading,
27. 0:56many said human traders were done for.
28. 0:58Then came high-frequency trading and
29. 1:00algorithmic trading. And again, people
30. 1:03claimed the same. Yet the elite traders
31. 1:05adapted using those tools to amplify
32. 1:08their edge. AI is simply the next
33. 1:10iteration of that cycle. The traders who
34. 1:12learn to integrate it into their
35. 1:13analysis, journaling, and
36. 1:15decision-making will thrive, while those
37. 1:17who ignore it will fade. Survival in
38. 1:19this business has always depended on and
39. 1:21will always depend on adaptation. Part
40. 1:24of adapting is recognizing that you
41. 1:25don't need a five-hundred-dollar per
42. 1:27hour therapy session to start managing
43. 1:29your emotions in trading. While AI
44. 1:31therapists aren't anywhere close to
45. 1:33replacing real human interaction, I
46. 1:35recognize not all traders can afford or
47. 1:37access a great trading psychologist. I'm
48. 1:39lucky to have been working with the same
49. 1:41trading psychologist for over five years
50. 1:43now. As for you, you can use ChatGPT to
51. 1:46identify your triggers, review trade
52. 1:47logs, and call out your occurring
53. 1:49mistakes, while also helping you find
54. 1:51solutions to all of them. Let's say
55. 1:53you've journaled 30 recent trades and
56. 1:55pasted them into ChatGPT. You can use
57. 1:57the prompt, "Summarize the emotional
58. 1:59mistakes I made in my last 10 trades and
59. 2:01suggest three rules to prevent them."
60. 2:03ChatGPT will literally show you what
61. 2:05emotions caused your biggest losses.
62. 2:07FOMO, revenge trading, hesitation, and
63. 2:09it'll then help you design personal
64. 2:11guardrails. Now, AI can be your first
65. 2:14line of defense. It can instantly sift
66. 2:16through all your write-ups and aggregate
67. 2:18all the psychological mistakes you've
68. 2:19made. It'll notice that you cut winners
69. 2:22too early when you're on tilt, or that
70. 2:24you overtrade after a big loss. You can
71. 2:26even have it build you checklists. If
72. 2:28you want to try it out for yourself, use
73. 2:29this prompt. "Based on that
74. 2:31psychological issue, create a pre-trade
75. 2:33checklist that can help me prevent
76. 2:34emotional errors." The result? You're
77. 2:36trading with emotional awareness, not
78. 2:38reacting impulsively. If you're serious
79. 2:40about performance, this second way to
80. 2:42use ChatGPT is a must. You already keep
81. 2:45a trading report card and probably keep
82. 2:47a ton of statistics on your trading
83. 2:49data. But most traders rarely analyze
84. 2:52that data deeply. Maybe they do so once
85. 2:54a month or a few times per year. ChatGPT
86. 2:57can deeply analyze your data every
87. 2:59single day. You can upload or paste your
88. 3:01report cards and trading stats, win
89. 3:03rate, average reward, average risk,
90. 3:06expectancy per setup, and ask it to look
91. 3:08for patterns. Here's the prompt I use.
92. 3:11"Analyze these trading report cards and
93. 3:12trading stats. Identify what changes
94. 3:15could best improve my trading and what
95. 3:16patterns I might be missing." It might
96. 3:18spot that your short setups have half
97. 3:20the edge of your longs, or that your P&L
98. 3:22curve tanks every Friday, or that you
99. 3:24trade worse after two green days. I've
100. 3:26told this story before, but I'll tell it
101. 3:28again. I had one trainee that thought he
102. 3:30was amazing at IPOs. So he would trade
103. 3:32every single IPO. What he didn't realize
104. 3:34is that he was making money in the hot
105. 3:36IPOs, but then giving half that P&L back
106. 3:39in the mediocre ones. Having not deeply
107. 3:41analyzed his data, his sole conclusion
108. 3:44was that he was a positive expected
109. 3:46value IPO trader. He didn't notice that
110. 3:49blind spot until I pointed it out.
111. 3:51Imagine how many other blind spots we
112. 3:53have, but AI is going to help us find.
113. 3:55You could feed it text-based summaries
114. 3:57or data files. You don't even need
115. 3:59screenshots. Just describe your numbers
116. 4:01clearly. Don't know what a daily report
117. 4:03card is? I'll explain exactly what they
118. 4:05are and exactly how I build them in the
119. 4:07video link below. Numero three, ChatGPT
120. 4:10is amazing for performing deep research
121. 4:13on stocks and catalysts, especially if
122. 4:15you have some of the stronger paid
123. 4:16versions. Here's where ChatGPT starts
124. 4:19saving you real hours. You can have it
125. 4:21parse through investor presentation
126. 4:22decks, company filings, sell-side equity
127. 4:25research reports, and more. The best
128. 4:27part? It can even summarize all those
129. 4:29slide deck and financial filing
130. 4:31footnotes that are sometimes impossible
131. 4:33to read and interpret. For fundamental
132. 4:35research, it's absolutely incredible.
133. 4:38It's comprehension on complex
134. 4:39information is already far better than
135. 4:41my own. Plus, for some of the deep
136. 4:43research reports, it does an amazing job
137. 4:45of scouring the whole internet for
138. 4:47sources I'd never be able to find. That
139. 4:49being said, I still don't trust AI for
140. 4:51trading decisions. And no matter what
141. 4:53level analysis you do, you still need to
142. 4:55manage risk and listen to the chart.
143. 4:57Speaking of risk management, subscribe
144. 4:59and turn on notifications if you want to
145. 5:01catch my upcoming video, "15 Years of
146. 5:03Risk Management Advice in 15 Minutes."
147. 5:05Because no matter how confident you get
148. 5:07on a position, risk management always
149. 5:09comes first. A fourth way to use AI?
150. 5:11Understanding news and economic events.
151. 5:13Every morning, traders get slammed with
152. 5:15headlines. CPI, Fed comments, earnings.
153. 5:18Most skim the headlines, but never
154. 5:20connect the dots. ChatGPT can do that
155. 5:23for you. Try this prompt. "Summarize
156. 5:25today's top market headlines and explain
157. 5:27their likely impact on stocks." It'll
158. 5:29synthesize Bloomberg, Reuters, or any
159. 5:31social posts you feed it into one
160. 5:34readable brief. You'll know that CPI
161. 5:36came in hot, yields spiked, and that
162. 5:38means tech might be risk off. Now, can
163. 5:41you use this with the free version?
164. 5:42Mostly yes, but for real-time data or
165. 5:45web access, you need ChatGPT Plus with
166. 5:48browsing enabled. Otherwise, it's best
167. 5:50used for interpretation, not live feeds.
168. 5:52Crazily enough, many AI models are
169. 5:54already faster and more accurate at
170. 5:57parsing Fed statements and the impact
171. 5:59will have on markets than humans. Want a
172. 6:01real example of how using ChatGPT like
173. 6:03this can come into play when trading?
174. 6:05Back in April 2025, there was a headline
175. 6:08on ticker ANSS
176. 6:10about potential Chinese export
177. 6:12restrictions. I was able to query
178. 6:14ChatGPT to immediately find out what
179. 6:17percentage of their revenue is from
180. 6:18sales to China. Do I trust all the info
181. 6:21from ChatGPT a hundred percent? No, but
182. 6:23it gave me a far quicker answer than I'd
183. 6:26ever be able to find on my own. I didn't
184. 6:28have the time to do the manual research,
185. 6:30yet it allowed me to refine my trading
186. 6:32decisions. Okay. Now, one final way I
187. 6:34use ChatGPT before I get into its
188. 6:36limitations. I use it to calculate my
189. 6:38deltas and help me analyze my options
190. 6:41exposure. Here's where advanced traders
191. 6:43are having fun. ChatGPT can't give you
192. 6:45real-time data, but it can simulate how
193. 6:47delta exposure changes with different
194. 6:49assumptions. If I am trading the stock
195. 6:51while I also have a ton of options
196. 6:53positions open on the name, for
197. 6:55calculating my exposure, I post a
198. 6:57screenshot straight from my account and
199. 6:59tell it to compute my net exposure based
200. 7:01on the options and the equity positions
201. 7:03I have. Then you can ask it, "What would
202. 7:05be the most effective way to increase or
203. 7:07decrease exposure based on what price
204. 7:10action you are expecting?" Thinking the
205. 7:11stock won't go higher, but isn't so
206. 7:13likely to sell off a ton either? ChatGPT
207. 7:16will help you structure the trade. For
208. 7:17traders new to working with options, or
209. 7:19traders who want to expand their trading
210. 7:21using options, imagine a prompt like
211. 7:23this. "Give me three bullish options
212. 7:25trade ideas if oil prices rise another
213. 7:2710% in the next few weeks." It can also
214. 7:30give you alternative viewpoints. For
215. 7:32example, you can use the prompt,
216. 7:33"Challenge my thesis on shorting Nvidia.
217. 7:36What might I be missing?" That one
218. 7:37question can save you from confirmation
219. 7:39bias that ruins traders daily. With all
220. 7:41that said, where does AI still fall
221. 7:43short? For starters, AI probably
222. 7:45shouldn't be trading for you, and you
223. 7:47shouldn't follow it for trade decisions.
224. 7:49Just isn't fully accurate sometimes and
225. 7:51doesn't have the analysis needed to beat
226. 7:53the market. Another issue? There are
227. 7:54rare times its analysis is just dead
228. 7:57wrong, but unless you are very astute or
229. 7:59have a deep understanding of the
230. 8:00material, it can be hard or impossible
231. 8:03to recognize when this occurs. Sometimes
232. 8:05it's because ChatGPT found obsolete
233. 8:07information or didn't fully understand
234. 8:09the request. Finally, AI will only ever
235. 8:12be as good as your inputs. Garbage in,
236. 8:14garbage out. You always need to make
237. 8:16sure you're prompting it appropriately,
238. 8:18and there is a definite learning curve
239. 8:20to get the most out of it. AI won't
240. 8:22replace traders, but it will replace
241. 8:24undisciplined traders who fail to
242. 8:26evolve. The best traders are leveraging
243. 8:28tools like ChatGPT to master their
244. 8:31psychology, systematize their data, and
245. 8:34expand their edge. If you're serious
246. 8:35about trading longevity, you need to be
247. 8:38one of them. And if you want to
248. 8:39accelerate your profits without picking
249. 8:41up bad habits from fake trading gurus,
250. 8:43join my trading course. The link is in
251. 8:45the description. Please subscribe if you
252. 8:47found this video helpful, and I'll see
253. 8:49you on the next one.