The last time, I thought outside the box, building a trading strategy with chatGPT. Today, I’m back inside the box using that same AI Forex trading strategy with $50,000 and making it much better for all of us so we can all make some money.
It’s only a matter of time before Artificial Intelligence (AI) wins and robots take over the world. What we’ve seen that the last months have been astounding. Artists are losing their jobs to Mid Journey; coders are losing their jobs to chatGPT.
Hence, we must keep monitoring the advances in AI because one of these days, AI will build us a tool that will let us dominate the markets and print money.
I took my first stab at creating a tool last time wasn’t too impressive. Now it’s ready; we can backtest it 100 times, trade it live on a $50,000 trading account, and then give it to you for free.
However, before we start, if you can be the first person to tell me what I bought in a box shared in the above Youtube video, I’ll give your lifetime access to my VIP room for free. Hence, take your best guess, smash the like button, and subscribe to the channel.
AI Forex Trading Strategy
This week, I’m using an improved version of the AI strategy that chatGPT created for us.
If you go inside your TradingView account and click indicators, type “Trade with Pat,” and you will get the chatGPT improved indicator.
Once you click on the indicator, it will place arrows on your chart. The green arrows are buy trades, and the red arrows are sell trades.
Ideally, today I will put us in a position where we’re getting massive trades. To do that, I have to add some confluences but also need to backtest the trading strategy.
I used the chatGPT strategy on historical charts 100 times using my new confluences to see how well this performs over them. I won’t make you watch all that, so I will share the backtest result:
Last time, I had a 58% win rate, but now, I got that win rate up to o64%. It was with a 1:2 risk-reward ratio, so we’re staking 1% to gain 2%. That’s why we have a gain of 812% on 100 trades.
We had 64 wins and 36 losses. That gives us a profit factor of 3.56, an edge score of 96, six consecutive wins, and only four consecutive losses. We had a nice-looking equity chart too.
Now that we know the strategy works in backtest, I could take it live, yet before that, I wanted to show you some minor adjustments to ensure this strategy works better.
AI Forex Trading Strategy Rules
I really want to be in trendier conditions and would not want to trade when the market is in a bit of a range.
Hence, one of the best ways to work with the strategy is to use a bit of price action. I use support and resistance levels to expect a break out of a zone.
You can see here we get breakouts multiple times in my sample trade, but they were all false, and none had arrows except one. However, it appeared below the range, so we wouldn’t have traded because we wanted to break out the top, looking for buy trades.
Later, we had an arrow with a breakout candle, which would be an excellent level to enter a trade because the price moved down in hindsight.
We continued looking for sell trades and red arrows because we were in a downtrend. However, what happens when the downtrend gets broken?
We had a trend line in another example (in the video shared earlier), so I looked for new support and resistance.
An obvious support level was available, but we couldn’t trade a buy signal shown because we hadn’t broken through yet. Later, the price broke through and returned to retest the level before our indicator showed a buy trigger.
Hence, it is a trade I would take and eventually collect a bunch of the ensuing pips.
Therefore, using some basic price action theories with this strategy makes sense with the buy and sell signals, removing some crappy trades.
Live Trading With The Free AI Forex Trading Strategy
After installing the indicator and understanding the rules and perfect conditions to use it, I traded live, and below are some of my results.
Live Trade 1 (Sell)
Firstly, I ensured we were in a downtrend, as shown below.
We had lower lows and lower highs posted. Hence, I was looking for a sell trade. My next step was to find a break of my support level marked earlier to have a breakout trade.
A red arrow above a recent candlestick appeared, so I set my sell stop to the level I wanted to enter the trade. As soon as the price broke through there, it triggered the order that went in my direction almost immediately.
It slowed down (remaining in the profit area) and eventually smashed my take profit after some time.
It was a solid trade banking me over $4,000. You can see it in my verified MyFxbook account.
I traded 30 lots (Don’t try that at home) and made 16 pips ($4,884) in just 2 hours and 13 minutes using the chat GPT strategy.
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Live Trade 2 (Buy)
My second trade of the week didn’t go so well.
We were clearly in a downtrend, and I used a trend line break I scouted as my price action to determine that we might get a reversal that’d come up to hit my take profit. That didn’t happen.
I used the sell arrow available and had my buy-stop trigger above it. The trade initially went in my direction but failed and slammed down, smashing my stop loss.
However, it was okay because I didn’t not risking so much. If I lose a trade, it’s half the size of a win, so it’s no big deal. I gained 2% on the first trade and lost 1% on the second trade.
It’s good to know you won’t win every trade with this or any strategy.
Live Trade 3 (Buy)
The third was a much better trade, doing something similar to my previous one.
I had a downtrend that got broken, but this time, I had much more momentum to push to a higher level. Then I had two support levels (one above the other) and pushed the price up.
The price couldn’t break through the support levels, so I was only after those buy trades.
The result took longer to pan out, but it eventually smashed my take profit for a solid win of a few thousand dollars.
As usual, I used the chat GPT for this trade. The price pushed up returned and retested the support level.
I saw the buy arrow appear and placed my buy stop near there, entered the trade, and the price smashed my take profit. It was a nice one.
Live Trade 4 (Sell)
My last trade of the week was a GBPUSD one.
I established that there was a clear downtrend, as seen before my entry level. The price tried to break the market structure earlier but couldn’t.
Hence, I drew some support and resistance based on significant levels on the chart and looked for them to break. Near there, I got my sell signal as the confluence, so I set my sell stop near that level.
Eventually, it was a fantastic trade, going in my direction to smash the take profit in about 15 minutes by just following the strategy with price action.
I made $14,501 and $4,800 over the week, as in my verified MyFxbook account:
I went down to $3,100. Then my account went up to $9,300, and finally, $14,502. I placed four trades for profitability and won three of them for a 75%-win rate.
My average win was 27 pips, and my loss was five pips. Hence, it was an excellent risk-reward ratio.
My first trade banked me $4,800, and I lost $1,700 on my second trade. On my third trade, I got $6,500, but on my last, it took nine minutes to get $4,800 (probably the best of the bunch).
I made over $14,000 using the improved chatGPT strategy in one week.
If you want to use it, I suggest you focus on just an hour. Use your favorite timeframe, and only look at one or two pairs. Don’t overwhelm yourself, and ensure you stay inside the box performing good fundamental price action.
If you want to trade with me, consider joining my free trading room.
Please watch the Youtube video I shared earlier, smash the like button, and subscribe to the channel.