Unlocking the Full Potential: ChatGPT Trading Strategy Multiplies $100 to $13,000
Advanced Trading Strategy: Turning $100 into $10,000
In my previous video, I asked Chat GPT to provide a simple trading strategy to turn $100 into $10,000 as quickly as possible. The response was overwhelming, so I decided to create a part two, this time asking Chat GPT to develop an advanced trading strategy with the same goal of growing a small trading account rapidly. In this article, I will explain the indicators used in this strategy, provide step-by-step instructions, and present the backtesting results.
Indicators Used
The indicators used in this advanced trading strategy are:
- Money Flow Index (MFI)
- 100-period Simple Moving Average (SMA)
- Candlestick Patterns (Engulfing Candles)
These indicators will help us identify overbought and oversold conditions, determine the trend, and spot potential trend reversals.
Money Flow Index (MFI)
The Money Flow Index is a technical indicator that measures the buying and selling pressure in a security or market over a specific time period. It oscillates between 0 and 100, with a reading above 80 indicating an overbought condition and a reading below 20 indicating an oversold condition. In this strategy, we will use the MFI to confirm positive sentiment.
100-period Simple Moving Average (SMA)
The 100-period SMA is a smoothed moving average that assigns greater weight to the most recent price points in the series. It helps identify the market trend and can also be used to find support and resistance levels. When the price is above the SMA and the line is sloping upwards, the trend is bullish. Conversely, when the trend is bearish, the price is below the SMA.
Candlestick Patterns (Engulfing Candles)
Engulfing candles are a type of pattern used in technical analysis to indicate potential trend reversals. A bullish engulfing pattern occurs when a small red candle is followed by a larger green candle that completely engulfs the previous candle. This suggests that the bulls have taken control of the market and the price is likely to rise. On the other hand, a bearish engulfing pattern occurs when a small green candle is followed by a larger red candle that completely engulfs the previous candle. This indicates that the bears have taken control of the market and the price is likely to fall.
Strategy Rules
The rules for this advanced trading strategy, as suggested by Chat GPT, are as follows:
Long Trade
- Identify a bullish trend: The price must close above the 100-period SMA.
- Retracement to the SMA: The price must retrace to the SMA, and the candle bar must not close below the line.
- Oversold condition: The MFI must become oversold, indicated by a green circle on the indicator.
- Bullish engulfing candle: A bullish engulfing candlebar must be formed on the chart when the MFI leaves the oversold zone.
- Confirmation: Enter a long trade at the close of the prime bar if all conditions are met.
- Stop loss and target: Place the stop loss below the swing low and target two times the risk. Move the stop loss to break even once half the profit has been made.
Short Trade
- Identify a bearish trend: The price must close below the 100-period SMA.
- Retracement to the SMA: The price must retrace to the SMA, and the candle bar must not close above the line.
- Overbought condition: The MFI must become overbought.
- Bearish engulfing candle: A bearish engulfing candlebar must be formed on the chart.
- Confirmation: Enter a short trade if all conditions are met.
- Stop loss and target: Place the stop loss above the swing high and target two times the risk. Move the stop loss to break even once half the profit has been made.
It is important to note that while the backtesting results of this strategy were impressive, it is highly recommended to test it on a demo account before trading live.
Backtesting Results
The strategy was tested on various forex pairs using a one-minute timeframe. The initial account balance was set at $100, and a risk of 5% per trade was taken. After 100 trades, the strategy generated a profit of 13,551.6%, including fees. The win ratio of the strategy was 75%, with a risk-reward ratio of 1:2. The maximum drawdown did not exceed 12%. These results indicate that the strategy is highly profitable, but it is important to consider the higher risk per trade and conduct thorough testing before implementing it.
Frequently Asked Questions
Q: What indicators are used in this advanced trading strategy?
A: The indicators used in this strategy are the Money Flow Index (MFI), 100-period Simple Moving Average (SMA), and Candlestick Patterns (Engulfing Candles).
Q: How do I identify a bullish trend?
A: A bullish trend is identified when the price closes above the 100-period SMA.
Q: What is an engulfing candle?
A: An engulfing candle is a type of candlestick pattern that indicates a potential trend reversal. A bullish engulfing pattern occurs when a small red candle is followed by a larger green candle that completely engulfs the previous candle. A bearish engulfing pattern occurs when a small green candle is followed by a larger red candle that completely engulfs the previous candle.
Q: What is the risk-reward ratio for this strategy?
A: The risk-reward ratio for this strategy is 1:2, meaning the target profit is twice the amount of the risk taken.
Q: Should I test this strategy on a demo account before trading live?
A: Yes, it is highly recommended to test this strategy on a demo account before trading live to ensure its effectiveness and suitability for your trading style.
Give this advanced trading strategy a try and see if it can help you grow your trading account rapidly. Remember to always practice proper risk management and conduct thorough testing before implementing any strategy. Good luck!
Related videos
Watch LaterAdded
Watch LaterAdded
Watch LaterAdded
Watch LaterAdded
Watch LaterAdded
Sign Up For TraderEdge Here – https://www.traderedge.app/?via=george
can we use this strategy for xauusd in 15 m of time frame?
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
It is clear BTC has proved it's use case during this uncertain times. We need more experts like Mr Ryan Donald, who educate people on the evolution of the market so
people avoid common mistakes. so they don’t walk out of the market feeling frustrated! Keep up the great work! Raised over 24.6 BTC when I started at 2.3 BTC in just few
weeks implementing Ryan Donald daily trading signals and tips.
Are you looking for a reliable and profitable investment platform? Look no further than Sir Zane Omar Investment platform! With their expertise in bitcoin mining and binary options, you can trust that your trades will yield successful returns. Plus, their swift withdrawal process and transparent pricing ensures that there are no hidden charges to eat into your profits.
How do you automatically find retracement to SMAs? I can look at it manually but how does the bot know whether the price has retraced to SMAs?
not working in crypto at 7/6/23
How many trades have you won
Too many bots in chat
Ok so once strategy is done. How do you make the bot to run24/7 ? I mean where to connect with tradingview ?
MARK CAESAR IS A LIAR DONT SEND MONEY HIM PUMP COIN
what is being traded?
Thank you @TradeIQ could you please make a tutorial creating a bot like this in Pionex?
I'm glad I got into crypto when I did because it’s been a turning point for me financially, been my best decision so far.
You should use a 3 line strike instead of an engulfing candle formation. Much more reliable.
Am glad i grew my portfolio from 17k to 100k last month inside my wallet without sending a dime to anyone through the help of Mr ralf schadewald
lmao the zane omar , Expert Naomi, and many more scammers here, seems like videos like these on youtube are just marketing ads for scammers now eh ahahha
<Always good to hear your thoughtful and logical analysis. Do yourself and family a favor and stop stressing the day to day headlines so much, trade a small percentage of your portfolio rather than going in and out every couple weeks trying to time the market 👌 trading went smooth for me as I was able to raise over 11 BTC when I started at 2 BTC in just few weeks implementing Rico Alan daily trading signals and tips.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my wallet with the help of a trusted broker . You have to seek for help in the right places.
this is complete bs, just try on a real graph, your roi would be very very low
I am calling BS because if you ask ChatGPT the same question it will not give you a strategy. It does not work that way. Try it yourself. Therefore, the original poster is BS.
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more benefits than just holding and i have made over 27btc from day trading with Pius Roger insights and signals in less than 3 weeks so glad I started his program.
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more benefits than just holding and i have made over 27btc from day trading with Pius Roger insights and signals in less than 3 weeks so glad I started his program..*
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it :because the Crypto market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more benefits than just holding and i have made over 27btc from day trading with Pius Roger insights and signals in less than 3 weeks so glad I started his program.
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto –market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more benefits than just holding and i have made over 27btc from day trading with *Pius Roger insights and signals in less than 3 weeks so glad I started his program.
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more benefits than just holding and i have made over 27btc from day trading with Pius Roger insights and signals in less than 3 weeks so glad I started his program.-*
Thanks for the update. The market seems to be bouncing back still, but a lot of people lost huge sums already. I Will advice traders especially newbies to have orientation of trading before they get involved in it because the Crypto market has been unstable, forget predictions and start making good profit now because future valuations are all guesses. I must say trading offers more – benefits than just holding and i have made over 27btc from day trading with *Pius Roger insights and signals in less than 3 weeks so glad I started his program.
1m 75%WR 10%/5%RR 13551.6%
What Time Frame?
Thats a very basic strategy, i thought gpt would be something more advanced…this is grade school
Geniune noob question… if bots are crushing the market and everyone starts using them, who loses?
Love from UK. It's been an exciting experience trading with the help of Zane the Crypto specialist trader. I've been able to clear my debts and pay for my wife chemotherapy all thanks to Zane Omar. God bless you Sir.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Hi great show could you slow down I am slow 😅