Gabriel Costin Floricel / Профиль

Can ChatGPT Beat the Market?

Many investors and traders wonder whether AI models like ChatGPT can outperform the market and generate consistent trading profits. While ChatGPT is a powerful tool for research, financial analysis, and even trading strategies, it is neither designed nor equipped to execute trades or make reliable market predictions. Its primary function is to assist with information processing and discussion, not real-time financial decision-making.
Use ChatGPT for Research, Not Trading

ChatGPT is valuable for:
✅ Learning about trading strategies and market concepts
✅ Analyzing financial reports, earnings calls, and company fundamentals
✅ Chat ...

However, it is not suitable for:
❌ Executing trades or providing real-time market insights
❌ Predicting price movements with accuracy
❌ Beating the market through algorithmic trading

Trading success requires real-time data, sophisticated quantitative modeling, and a deep understanding of market psychology—capabilities that go far beyond ChatGPT’s intended use. After all, it's in the name: "Chat," not "Predict."

Hello, traders! 👋

Always Set Hard Stop Percentage to a Value You Are Willing to Risk on Your Account

Setting a Hard Stop Percentage is a crucial part of your risk management strategy when trading.

Why It's Important:
Risk Control:

The Hard Stop Percentage is designed to limit your overall drawdown. This value determines when the EA will stop trading if your account equity drops beyond a set threshold. It helps protect your account from major losses during volatile market conditions.

Always set it to a percentage you're comfortable with. If you're not okay with risking more than 10% of your account equity, set it to 10%. On a $10,000 account, a 10% hard stop would close positions once your equity drops by $1,000. This ensures that you're never overexposed beyond your comfort level.

Avoid Emotional Decisions:

Having a Hard Stop in place allows you to stick to your pre-determined risk limits, preventing emotional trading decisions. It takes the guesswork out of managing drawdowns and helps you stay disciplined.

Tips for Setting the Right Hard Stop Percentage:
Smaller Accounts: If you're trading with a smaller account, consider setting the Hard Stop to a lower percentage, like 5% or 10%, to limit risk.
Larger Accounts: With larger accounts, you might opt for a higher Hard Stop percentage, like 15% or 20%, depending on your tolerance for drawdown and the overall trading strategy.
Test on Demo: Always test different Hard Stop values on a demo account to find what works best for your risk management style and to observe how it performs in live market conditions.

The Hard Stop Percentage helps you manage risk effectively by setting a clear boundary for when to stop trading. It’s essential to always choose a value that aligns with your risk tolerance, ensuring you’re protecting your capital while allowing the EA to trade within your acceptable limits.

Stay disciplined and trade smart! 🧠💰

Hello, traders! 👋

Instead of increasing the lot size, consider attaching your SmartChoice EA to multiple charts on the same account, using different magic numbers for each instance. This strategy has several benefits and some dangers you should be aware of:

Benefits:
Risk Diversification:

By spreading the risk across different charts, you're not putting all your eggs in one basket. Each chart operates independently with its own trades, reducing the impact of a bad trade on the whole account.
Auto Settings for Flexibility:

Keeping the settings on Auto ensures that the EA will adjust to your account balance and trading conditions. With multiple charts, you can set up different risk levels (Low, Medium, High, Extreme) for various trading styles, giving you more flexibility.
More Opportunities to Profit:

With different magic numbers, the EA will open multiple trades on different charts, allowing for more opportunities to profit, especially when conditions are favorable.
Adaptability:

This approach ensures that you can adapt to different market conditions more easily. For example, you can run some charts with Conservative settings for stability while others may be more Aggressive for higher returns.
Risks:
Increased Drawdown (DD):

While adding more charts increases the potential for profit, it also increases the overall drawdown if things go wrong. More trades open at the same time mean more potential risk if the market turns against you.
Overexposure:

If you don’t manage the risk properly, there’s a possibility of overexposing your account. Ensure that your total exposure across all charts is still within a comfortable risk level for your account balance.
Broker Limitations:

Depending on your broker, running multiple charts with different magic numbers may trigger execution delays or spread variations. Make sure your broker can handle multiple positions on a single account smoothly.
Final Thoughts:

Using multiple charts with different magic numbers is a smart way to diversify your trading, optimize your risk, and maximize your opportunities. But be mindful of the drawdown and ensure you're comfortable with the overall risk. Always monitor your trades and adjust your approach as needed.

Good luck with your trading! 🚀

Hello, traders! 👋

For those of you looking to enhance your trading setup, I highly recommend checking out the Take a Break EA. It's a powerful news filter and account protection tool that works perfectly alongside SmartChoice!

What does it do?

Pauses trading during news or high-volatility events.
Protects your account by stopping trading when equity, balance, or margin falls too low.
Allows you to trade only during specific sessions (e.g., the Asian session).
Sets daily profit or loss limits, great for funding programs like FTMO.
Acts as a global filter to manage all EAs on your account!
I believe combining SmartChoice with Take a Break can provide you with a safer and more controlled trading experience, especially when navigating unpredictable market conditions.

📌 You can read more about it here: https://www.mql5.com/en/market/product/45264

Happy trading! 🚀

🚀 Testing SmartChoice V3.2!
New options, improved neural network, and enhanced performance are on the way. Stay tuned—coming soon! 🎉

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