ChatGPT Trading Strategy Made 19721% Profit In Tradingview_These Strategy With ZERO Risk

hey guys chat GPT is getting completely crazy this AI service can made apps websites meal plans it can even teach you how to code but what about trading can chat GPT create highly profitable trading strategy with low risk this strategy that can grow a small trading account fast we jumped ahead and asked it to do so we also mentioned the names of the indicators our strategy should be based on chat GPT wrote a full trading strategy with entry rules and money management in seconds which really blows our minds so we stepped ahead and followed the instructions the first step was to choose a trading instrument and a time frame chat suggested that we should apply this strategy to a daily or hourly chart we know a lot of you guys love day trading on short time frames so we will select the xau against US Dollar on a five minute time frame we will have a look at how well the strategy works on other time frames as well so stay tuned for that The Next Step will be to add our technical indicators to the price chart so open the indicators menu and search for the first indicator which is the money flow index created by dreams defined the money flow index NFI is a technical analysis indicator that measures the flow of money into and out of a financial instrument such as Forex crypto or stocks over a specified period it is an oscillator that ranges between 0 and 100 providing insights into the strength of buying and selling pressure in the market mfi is considered a momentum indicator and is often compared to the relative strength index RSI however while RSI only considers price changes mfi incorporates both price and volume data making it more comprehensive at capturing the flow of money the mfi is typically analyzed using overbought and oversold levels Oki a reading above 70 indicates overbought conditions suggesting that the instrument might be overvalued and due for a price correction conversely a reading below 30 indicates oversold conditions implying that the instrument might be undervalued and due for a price rebound we're using a modified version of money flow index which means that red or green circles indicate oversold or overbought conditions the next indicator we're going to add is the engulfing candle indicator the engulfing candle indicator is a basic yet profitable technical analysis tool used to identify potential Trend reversals in financial markets the engulfing candle pattern can be either bullish or bearish signaling a potential change in Market sentiment and future price Direction the bullish engulfing pattern occurs during a downtrend and signifies a potential Trend reversal to the upside the first candle in the pattern is a bearish candle with a relatively small body the second candle is a bullish candle with a big body that fully engulfings the body of the first candle the bullish engulfing pattern indicates that buying pressure has overcome selling pressure suggesting that bulls have taken control and that the price may rise the bearish engulfing pattern occurs during an uptrend and signifies a potential Trend reversal to the downside the first candle in the pattern is a bullish candle with a relatively small body the second candle is a bearish candle with a larger body that fully engulfs the body of the first candle the bearish engulfing pattern indicates that selling pressure has overcome buying pressure suggesting that bears have taken control and that the price may fall for the third indicator let's add the exponential moving average the default length is 9. since we need a longer term moving average to filter out minor price fluctuations let's change the length to 200. the exponential moving average is a technical analysis indicator used in trading to help identify Trends in potential entry or exit points in financial markets unlike the simple moving average which assigns equal weight to all data points in the calculation the EMA gives more importance to recent prices making it more responsive to recent changes in the market in trading the EMA is often used to identify Trends in potential support or resistance levels when the EMA is rising and the price of an asset is trading above it this could indicate a bullish trend conversely when the EMA is falling and the price is trading below it this might suggest a bearish trend now once we have all the indicators on the chart let's proceed to the entry conditions for a long trade chat GPT suggested that we should first identify a bullish trend as we already know a bullish trend is present when the price is moving above the 200 EMA the next condition is to have the money flow index oversold this is confirmed by a green circle then a bullish engulfing pattern should form suggesting a potential Trend reversal a bullish engulfing candle is confirmed by a green triangle below the price bar as soon as the bullish engulfing pattern has been formed we should enter a long position on the next candle GPT suggested that we should place the stop loss below the low of the bullish engulfing pattern as for risk management Target one to two risk reward ratio but just a stop loss to break even once the price has gone in your favor this will secure the trade if you want to increase the win ratio of this strategy even more you can enter a long trade at the retracement of the price to the EMA this way you'll get an even better price for a short trade chat GPT mentioned that we should first identify a bearish trend a bearish trend is present when the price is moving below the 200 EMA the next condition is to have the money flow index overbought this is confirmed by a red circle then a bearish engulfing pattern should form suggesting a potential Trend reversal a bearish engulfing candle is confirmed by a red triangle above the price bar as soon as such a candle has been formed we should enter a short position on the next candle place the stop loss above the high of the bullish engulfing pattern apply the same money management rules as for long positions we tested some of the signals given by this strategy on your USD on 15 minutes time frame the strategy wins almost every single time [Music] now let's check how well it works on higher time frames [Music] we can see this trading strategy has a high success ratio it uses smart money management as well which is 70 to 80 percent success in trading discipline is also critical if your goal is to grow a trading account fast chat GPT mentioned that we should stick to our trading plan and maintain discipline when executing Traders avoid over trading and emotional decisions evaluate your strategy's performance regularly and make adjustments as needed remember no trading strategy is perfect or guarantees success it's essential to back test and demo trade the strategy before using real money additionally be prepared for periods of drawdown and always trade with proper risk management Traders our video has come to an end we hope you find it useful be sure to hit the like button to it and subscribe to our channel for more new strategies in the future thanks for watching our video [Music]

Channel: Market Accurate

Views: 187,592

Keywords: ChatGPT Trading Strategy, Trading Strategy, Strategy With ZERO Risk, ChatGPT Trading, money flow index indicator, engulfing candle strategy, S&P 500 Index, NASDAQ, stock trading, best indicator for scalping, us30, S&P tradingview indicators, 500, Dow Jonesforex, scalping trading strategy, forex trading strategy, algo trading, tradingview, crypto, best tradingview indicator, cnbc, best stocks to buy now, scalping strategy, tradingview tutorial, chatgpt, ai trading, trading, stock

Id: H7jihkFiQQs

Length: 9min 27sec (567 seconds)

Published: Mon Mar 27 2023