Learn How ChatGPT Trading Strategy Achieved 19527% Profit in This Full Tutorial

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Turning $100 Into $10,000 with <a href='https://ainewsera.com/how-to-use-new-google-gemini/artificial-intelligence-news/' title='Discover the Ultimate Guide for Mastering Google Gemini AI in 2024' >AI</a>-Based Trading Strategy

I Recently Asked Chat GPT for a Trading Strategy to Turn $100 into $10,000

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Introduction

Recently, I asked chat GPT to give me a trading strategy to turn $100 into ten thousand dollars fast. It gave me some tips such as focusing on highly volatile assets, using technical analysis, and being disciplined. However, these tips were not specific enough for my liking. I decided to ask it to create the best strategy using an AI-based trading view indicator code that the machine learning.

The Strategy

This indicator is currently going absolutely viral. When I asked for the strategy’s goal to turn $100 into $10,000 in the shortest amount of time possible, it provided me with a detailed strategy. After making some tweaks, I am ready to test it. For testing, I will use the price of Ethereum on a three-minute time frame.

The Indicators

The strategy includes three free trading view tools – the Machine Learning K N based strategy, the EMA ribbon by Dominic Osceleti, and the Relative Strength Index (RSI). These indicators work in combination to provide buy and sell signals based on historical market data and trend analysis.

Machine Learning K N Based Strategy

The machine learning strategy works by analyzing historical market data and predicting the direction of future price movements based on patterns in the data. K N is a classification algorithm that determines the class of a data point, in this case whether a stock price is likely to go up or down based on its historical data.

EMA Ribbon by Dominic Osceleti

The exponential moving average ribbon is a trading indicator that consists of multiple exponential moving averages plotted on a price chart. The ribbon is used to identify the direction and strength of a trend in the market, and to provide potential buy or sell signals based on the position of the price relative to the moving averages.

Relative Strength Index (RSI)

The RSI is used to measure the strength of a security’s price action and to identify overbought and oversold conditions in the market. As part of the strategy, the RSI is made more sensitive to provide additional confirmation for trade entries.

Entry Conditions

The strategy’s entry conditions for a long trade and a short trade are clearly defined and rely on a combination of signals from the indicators. These entry conditions help to ensure that trades are taken in the direction of the trend and with confirmation from multiple indicators.

Back Testing Results

After testing the strategy over 100 trades with a starting account balance of $100, the strategy increased it to $19,527. The risk per trade was set at 5%, resulting in higher drawdowns but also higher rewards. The strategy is suitable for those looking to grow a small account quickly, but caution is advised.

Conclusion

The strategy provided by chat GPT using AI-based trading view indicators shows promising results, but it’s essential to forward test it on a paper account before using it with real funds. The strategy involves higher risk, and caution should be exercised when trading with real funds. Overall, it’s an interesting approach to turning $100 into $10,000 using AI-based trading strategies.

Further Reading

If you want to see more strategies for crypto, check out this playlist.


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Leah Sirama
Leah Siramahttps://ainewsera.com/
Leah Sirama, a lifelong enthusiast of Artificial Intelligence, has been exploring technology and the digital world since childhood. Known for his creative thinking, he's dedicated to improving AI experiences for everyone, earning respect in the field. His passion, curiosity, and creativity continue to drive progress in AI.