I Tested The TradeGPT EA From mql5! Is It The Best AI (ChatGPT) Created Expert Advisor?

Hey listen hey welcome back to another video on this channel and today I want to make another EA or mql5 Market EA test so it's been a while since I did the last test and by now the top charts or the top ranks of the mql5 store for the meter trailer 5 EAS um yeah they they changed a lot since I did the last review and this because a lot of these EAS that are on the on the top ranks they just stay there for a while like some weeks or at maximums a month so there are some new players in the game and today I want to have a look at this trade gptea this could be a really interesting EA because this EA is based on the chat GPT um artificial intelligence so this is something that um is coming up lately in a lot of different topics or different scenarios so everyone is talking about artificial intelligence and this chat GPT which is a um a chatbot pretty much that can help you to solve a lot of tasks and also like programming tasks and this trade GPT program which is the expert advisor it seems to be based on the chat GPT so some of the trading ideas some of the analysis ideas um they are created this at least what the seller says by the jet GPT artificial intelligence so [Music] um oh yeah also like in the text it says that it does not only use this chat GPT um ideas there are also some inputs by the developer or the developer team so this EA is not only based on the chat GPT but it's also based on like the the influence or there is influence from the programming or developing team so let's have a look at the programmer or the sales person it's Alexei krasov and we can see that he has some EAS not too many we can have a look at them but I think the only one that is really um yeah that is really used or accepted by the community or metatrader on mql5 is the trade gbt EA also what we see is we do not have any live signals so for this reason we will of course also don't uh we won't find a live signal for the trade GPT program which is a little bit unfortunate because it's always a good indicator to see how a program performed in the previous weeks or month but in this case we do not have a live signal so we will have to do our own back test and then see if this could be a profitable EA or what the pros and cons are and yeah since we do not we do not read too much about the strategy here will be hard to really see what the EA does in detail but we can still look if there are some mechanisms like Martingale or grid that I use that we will find in a lot of expert advisors on mgl5 also it says that their in the test there's a profit of 20 billions or 20 billion US dollar which is always something that yeah you should um question because extremely big profits are always a little bit it always sounds a little bit fishy this is like one of the biggest reasons to buy a program um yeah but what I really like is there is this sentence that prophets are never guaranteed and this is indeed true so whenever you buy any program whenever you run any program and you tested it for the last few months or years it is not a guaranteed winning system in the future so there's always a big difference and you have to be really careful with any program and only because it works in the past doesn't mean it doesn't mean it has to work in the future a lot of programs are always over optimized for the past so you will see extremely good research on the tester but of course the future can always be different okay so there is a recommended setup so we will test this and then we will see a list of inputs but we will have a look at this in a second when we have a look at the program in the metatrader5 I think if these are the only inputs it's not too much so it will be easy to understand also um there seems to be a user manual if you contact the sales person in private I think you have to purchase the program and then you can contact the sales person and that will help you to understand the program um okay so let's have a look at the screenshots in the screenshot in the first screenshot we can see that there is a crazy profit starting from 300 US dollar and ending up with I don't know 20 billion something so there's a crazy profit in just uh seven years 16 17 18 19 20 21 22 23 yeah seven years and and some month so this is um it looks crazy in the back test but I mean of course we will have to check this in a second also we will find another big test where is there's a snippet of the code that is correct created by mql by the chat GPT artificial intelligence but um yeah to be honest this code doesn't really have us with anything I mean yeah it seems to to to to to to show some support and resistance levels in the chart but without further information we cannot really uh we cannot really yeah take away something from the screenshot and the last screenshot is a Formula which seems to be used to put the stop loss or to calculate the stop loss this is kind of complex and uh from my experience a more complex EA is not always better so in most cases and this my my personal opinion my personal experience in EA is not better because it's complex so yeah I always question something like this but yeah we will see we will see I mean I'm not um the the best developer out there I think so this could be could be all really good so as a last Point here I want to have a look at the reviews rivers are all really good but the problem is the EA is only out there for several months and I think like in the top ranks of the mql5 store for like one month now so we don't have too many comments here uh reviews here so yeah it doesn't really help us and um only for reviews it's not it's not so much so before I would purchase this program I would wait another one or two months at least to see some more reviews but we will have a look at this of course in the media Twitter now so if you want to test any program in the media Trader 5 from the Middle mpl5 Market you can just go to emitter Trader 5 go to the Navigator go to market and then double click it and then search for the program or you can find it right away this is the trade GPT so you can click on download demo and it will install the demo version of the program in your metatrader5 and you can do this with any expert advisor which is really great in my opinion so then you only have to go to the strategy tester so click on view strategy tester and then you go to overview visualize and then you can make a visualized back test with a program that you just downloaded as a demo so here I can go to market and I choose the trade GPT program here and then let's have a look at the settings I mean there were recommended settings so maybe we we go with this first Euros dollar one minute and then we can maybe also try some some some different settings so let's start some years ago and yeah let's have a look at the inputs okay yeah we see some inputs like the risk management or money management type we can have a risk of five percent per trade I guess but we will have a look or a fixed lot size I will choose the dynamic this also the default settings we have a hedge mode a virtual stop loss ntp um yeah I'm not a big fan of virtual stop loss ntps I don't think the broker is manipulating your trades if it sees that the GP and stop loss levels but this is up to up to yourself so you can if you want to hide it you can hide it of course also we have a comment for the trade and the magic number for the trades and this will not affect the strategy so we'll just choose the default settings and then we have the trading session so I think we can just choose the trading hours here and then we can decide if we want to trade on Fridays so there are not a lot of settings so the user or the buyer or the user of the program is not really able to um choose a lot of different settings so we kind of have to trust the strategy itself the black box that we get here from the salesperson and yeah this is always something that yeah I mean you you should just make sure that you can trust the salesperson because I mean a lot of people on mql5 they just want to make money selling the program but they don't really offer you a lot of um um room to like change the strategy or try out different things so you kind of have to trust the uh the salesperson okay so we can see if we fast forward a bit we can see that we get different positions here already we have one position open right now oh No in fact we have a lot of positions open right now so let's figure out how these positions are created and think right now all of these positions are created kinda at the same level so we open a lot of positions on the same level they always seem to have the same TP and the same stop loss which seems to be a trailing stop loss and yeah we can see the stop loss is modified multiple times and I think also the TP was modified but yeah let's have a look at this with another scenario here another example for some trades so there's another sale trade and let me search for the TP and SL both of these levels are currently super far away so I think they will be modified soon okay so the program seems to wait quite a long time until the trades are in profit and this is really interesting and then we have the tpn stop loss mechanism again and this seems to be the case every single time so whenever we open trades first of all the TP and the stop loss there are 10 000 points away which is quite a lot it will take quite a lot of time multiple month for the strategy to really hit the actual stop loss level because it is so far away and um this is also kind of a problem because I mean I really want to see what happens if the if the trade is not going well and if the um markets moving into the wrong direction because then the strategy might really have a problem also I'm looking at the time for the position opening if I can see a pattern there but yeah right now all I can see is that we always open multiple positions at the same level all of these positions they seem to have the same trade management so the stop loss is always at the same level TP is always at the same level and all of these trades they are only modified if the positions are in profit and this is really interesting and this is always something you should really be careful with because if a trade is not going well you will have a crazy big loss so this might destroy your whole account with only one series of Trades so you have to be really careful also I think we don't let's have a look at the at the graph here and see if we see a lot of losing trades we don't which is always an indicator that there might be something wrong I'm not saying that the tests are manipulated but if you never see any losing trade it's something you should be really careful with um yeah so I think it will be hard to really understand how the strategy works because we don't have a lot of information we only see when the positions are open we only see that the TP and stop loss is first of all very far away and then if the if the position is in profit everything is like secured there will be ATP and a stop loss which is a trading stop loss but it's guaranteed that there's never a losing trade and this is something we should be kind of careful with because it could be that these tests are curve fitted manipulated whatever I mean you have all the tools for this if you develop a metatrader program so you have to be really careful with strategies like this and it's not really realistic that you will never see a losing trade so yeah we really have to wait do a long-term back test and see if we can find losing trades so I think I will just test this period now for the whole eight years that I selected and then get back to you afterwards okay so this big test is now finished and it looks indeed um Kind of Perfect a little bit too perfect if you ask me and I think we see nearly no losing trades I mean okay in the very end we had some losing trades but this this was only because the trade the test ended so the the positions were closed at the level they they were at this point so we kind of don't have losing trades and this is in my opinion from my experience not super realistic and this is a problem so right now I would recommend to be really careful with this system because everything looks a little bit too nice like the profit factor or the Overlook overall profit and everything I mean this system could work really good for a long time because of this mechanism where it has the fast stop loss and far DB and then once it is in profit it everything is like coming together and you you will make a profit but at some point you will have this losing trade or multiple losing trades because you open multiple positions at the same time and this might blow your account so just be really careful also I want to do another test maybe just change the time frame um yeah I think maybe this will not really change a lot and then I also want to change the um the the symbol like not only test Euros dollar but only some also something like GBP USD or just a different symbol to see if if this makes a huge difference and if it does it's yeah it's it's interesting to figure out why and yeah so here so far I think there's not really a difference if we trade the one hour chart or the the one minute chart the trades might be kind of the same and yeah but here you also saw something um which I tried to explain before the trades were in in a losing position like for quite a few points and the strategy is just waiting for the for the market to come back but it doesn't have to come back at some point you will see a losing trade here again we have buy positions open the price is falling so positions are deeply red here so you can see um the equity was below the starting Capital already and if the market is not able to recover the threat uh the the positions you will have a crazy loss and this might blow your account with only one series of Trades because if you see if you have a look at the the stop loss okay I think it will not blow your account but it will take away like 30 percent of the count or something like this depends on your risk I think so this is um really something you have to to watch out for and if you see like one or two of these losing series you will be really set but yeah once the strategy is in profit everything works fine so this is like the general idea so no no need to test any further here there's something you can do on your own Let's test another symbol now like GBP USD starting in 2020 and let's see how this goes and then yeah I think we can end the review for this program so after all it's pretty much all it's set already so I would be really careful I think this might be curve fitted might be a little bit too good to be true so what I would do before purchasing this program whoops I had no internet connection here I think before I would purchase this program I would just wait just wait a month or so for more reviews and if people are still super happy um you can consider buying the program but yeah I would just be careful because you don't know a lot about the strategy it's kind of Black Box we we only know that it's kind of risky because if the Market's not going to the direction of the trade you you always lose or you always risk like really a lot of your of your capital and yeah so the the overall strategy is already the same here for GBP USD and I will Fast Forward the test in a second because yeah it's not really interesting to watch this in the um visual mode because it's always the same like we open positions and um yeah then at some point when the trades aren't profit the stop loss and the take profit are dragged into this direction and then it's close at some point so let's have a look at this in the non-visual mode for faster back testing as a last test and yeah then everything is said about the strategy so yeah again right now it's ranking really good in the mid Trader 5 Market but a lot of programs do so for a short period of time just have a look at for example the Most Wanted EA this was in the top list for I don't know two months or so and now all the reviews started becoming really bad because this was also a strategy that is performing good for most of the time but at some point it's just you just feel the risk of of trading and at some point you will have losing trades but yeah overall this this EA seems to produce similar um resides and different symbols so yeah just go ahead do your own testing this is something you don't have to watch in a video on my channel this is something you can do on your own and this is what I would encourage everyone to do before purchasing any program just do a lot of back test try to understand the strategy like the mechanics like why are there so many winning trades and this is obviously because of the very fast stop loss in the beginning and then you have to question yourself do you believe that this could work in the future or might there be a chance that the back tests are not 100 legit and if there are some there might be some differences in the future and if you can answer answer this question for yourself I think you are you already know if you want to purchase and use this program or not so thanks for watching I hope that you liked this little breakdown on the um trade GPT EA in the mql5 market let me know what you think in the comment section below maybe you already made your own personal experience then of course I would be really glad to read about your uh your experience with the EA in the comment section and in the end there's nothing more to say but have a great time and go trades I'm out bye bye

Channel: René Balke

Views: 29,466

Keywords: Trading, Programming, expert advisor, EA, automated trading, mt4, metatrader 4, mt5, metatrader 5, forex robot, robo trading, algotrading, forex, cfd, mql5

Id: oDEk7aV9iYw

Length: 21min 48sec (1308 seconds)

Published: Wed Apr 26 2023