I created a trading Robot using the Chat GPT and
I'll show you the results. So I asked Chat GPT to make the Robot for me, code me a trading Robot
that uses MACD Indicator and has a good risk reward ratio and it must trade on MetaTrader
4, hit on enter and here is the code, you know what? If you are going for programming in the
Universities, stop wasting your time, you don't need it anymore. Oh my God, universities will close
doors, I'm kidding of course that's not the point of that video and I just want to show you how it
works and we will see by the end of the video if you can really rely on the Chat GPT to write a
trading Robot that will actually bring profits and what's quite interesting they say that Chat
GPT remembers previous responses and prompts. Does that actually mean that someone already trained
it to code Robots for MetaTrader or if I've spent time on it right now, to teach it and improve it
when you are doing it, is it gonna be smarter and are my actions gonna be implemented in the AI, I
don't know let me know that in the comments below Once it's ready I see a code that looks suitable
for MetaTrader. However, what I will do is just copy the code and put it into action. So now put the
code in The Meta Editor and we'll backtest the Robot on MetaTrader. I'll delete the code for one
of the Expert Advisors I have and I will paste the one that we have from the AI, so if I compile
it, you will see that, oops, we have two errors but let's say you are complete beginner and I don't
know how to fix the code what you can do is ask the Chat GPT again to rewrite the code for you.
So just copy paste the mistake I see and I will write the Robot fails to compile and I will hit on
enter and that's actually one of the best things I liked about the Chat GPT that you can ask for a
new code, you can ask to make change, you can ask it to fix an error. So now I have the ready code, I
will just copy it, I'll go back to the Meta Editor, I will paste it and Compile. I see zero errors,
the Expert Advisor has compiled successfully. It's time to backtest it. I'll make sure I'm on
M15 time frame I will drag and drop the Expert Advisor, you will see the inputs and if I click
on OK, I will have the Expert Advisor attached over the chart, I'm recording the video on Sunday
so that's why nothing is moving, but let's say I will back-test it with Spread of 20 points and
I will just hit on start, the backtest is really fast but no any orders were executed and then my
struggling began, I've asked the Chat GPT to modify the Robot multiple times to place a fixed Stop Loss and a Take Profit, to write for me a code that has a profitable backtest and I've spent probably
a few hours but still nothing, but then I figured it out the Chat GPT actually gave me the idea for
the entry and the exit rule. In the code I saw that it says check if the MACD is below zero for a
short trade and check if the MACD is above zero for the long trade and since I couldn't figure
it out if that is a profitable strategy using the backtester because the code just didn't
work, I'll use the EA Studio Strategy Builder to implement the trading strategy. I will add the
MACD indicator with the rule that MACD line is higher than the zero line, I'll use the default
parameters as the Chat GPT suggested and I will see a complete loss in the balance chart. So using
just the MACD indicator with that condition will be a complete waste of money and even if I switch
to the different time frames, it is still a losing strategy, let me try with a Stop Loss and a Take
Profit, I'll go for a Stop Loss of 30 Pips and Take Profit of 60 Pips that will still be a losing
strategy, let me increase it to 40 and 80 and I'll still see a losing strategy, last chance I will
go for 50 as a Stop Loss and Take Profit of 100 but still nothing. Now let me add the second entry
indicator that should confirm with the condition MACD line is higher than the zero line, I will go
for Bollinger Bands which is one of the indicators I use a lot for algorithmic trading and I will
go with the rule that the bar should be below the lower band after opening above it, in other
words for long trade we should see the bar opening below the lower bands of the Bollinger Bands, Now
you can see that immediately I have a little bit better balance chart, still losing but it is better.
Now let me add an exit indicator, I will add a new rule and I will go this time for the Demarker and
I will select the third option, Demarker is higher than the level line, I will click on Accept and the
strategy is still losing but I will increase the period to 30, let's see the result, it gets a little
bit better, I'll go for 40, nothing changes, I'll go for 50 and see if it will become better, not
really. So let me start increasing the level of the Demarker, I will go for 50 a little bit better, I
will continue increasing it to 0.70, oh that's way better, let me actually go for 0.90 and see what
would be the result, way better strategy, almost at the break-even, but not yet, so from my trading
experience, that strategy makes sense that we will have the two entry conditions confirming each
other and one exit indicator and if I click on the chart you will see exactly where the trades were
opened at close, for example here we have a short trade that met the Stop Loss and right over here,
we have a long trade that met the Stop Loss which means that I will need to increase the Stop Loss
and probably decrease the Take Profit let's switch places I will go for a Stop Loss of 100 and Take
Profit of 50, and you will see way better strategy with a positive balance chart and if you trade it
for example with one Lot, you will see that it made nearly $20,000 since the beginning
of 2020 and I will export it as a ready to use Robot for MetaTrader, I will go now to File, Open
data folder, MQL4, Experts and I will remove all the EAs I had previously and I will paste it over
here, I'll close the folder right click over Expert Advisors, press on Refresh and I will see the
Expert Advisor below, I'll drop and drag it over the chat and I will attach it, right click Expert
Advisor strategy tester and I will hit on Start to see the backtest. I see the results with all the
trades that open and closed and I can see a graph the report is below, not that much Historical data
from the Broker, compared to the EA Studio where I have 317 trades and not just 60 like what we had
on MetaTrader, but EA Studio is a professional tool, it allows me to backtest the strategies using
a way bigger historical data and I'm capable of exporting the Robot with the code that actually
works for MetaTrader and I'll drop a link down below in description, if you want to test it out
and let me know how it goes for you and I think Chat GPT can give you great trading ideas, but
you will need a little bit extra knowledge and tools, if you want to have a proper trading Robot,
but stay with me to see my final thoughts Chat GPT has definitely started a new era of smart
AI that will assist you with whatever you need but at the same time, it has a lot of downsides.
I can't imagine my kids writing their own essays if they can ask Chat GPT or any other AI to do it
for themselves, so for certainty it will make the younger generation lazier and what if people
start using it for their healthy problems, for example I asked Chat GPT to tell me what is the
best medicine, if you have severe back pain and and gave me a few bullet points, physical
therapy, massage therapy, acupuncture and it even suggested a surgery, imagine how many people will
be shocked to see that and now I'll be calling my father who has over 40 years of experience as a
neurosurgeon and I will ask him the same question Here it is, hey Dad what is the best
medicine if you have a severe back pain okay um, I'll just stop recording the video, then
seriously is an AI going to suggest you that.
