Boris Schlossberg
BKTraders and Prop Traders Edge
Want to build MT5 trading bots using ChatGPT?
In this step-by-step tutorial, I show you exactly how to leverage AI to create, test, and deploy automated trading strategies in MetaTrader 5.
You'll learn:
- How to combine ChatGPT & MT5 to build trading bots (no coding needed).
- Setting up your MT5 environment correctly.
- Creating trading strategies using AI (moving average, RSI examples).
- Adding risk management & custom parameters.
- Tips for debugging and optimizing your bots.
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD stays weak near 1.1850 on firmer US Dollar
EUR/USD holds onto Friday’s losses near 1.1850 in the early European trading hours on Monday. The pair remains vulnerable to further downside as the US Dollar stays firm following President Donald Trump’s nomination of Kevin Warsh as the next Fed Chair. The focus now shifts to the US ISM Manufacturing PMI data.
GBP/USD drops below 1.3700 as markets mull a Fed under Warsh
GBP/USD stays under pressure below 1.3700 in the European morning on Monday. Traders weigh what a Federal Reserve under Kevin Warsh might look like, propping up the US Dollar at the expense of the Pound Sterling. The US ISM Manufacturing Purchasing Managers Index report is next of note later on Monday.
USD/JPY stays firm around 155.00 after BoJ's Summary of Opinions
USD/JPY is sticking to gains at around 155.00 in Asian trading on Monday, with the upside capped by the Bank of Japan's (BoJ) Summary of Opinions, which reinforced the BoJ's gradual tightening narrative and lifted the Japanese Yen. A pause in the US Dollar recovery also keeps buyers in check.
Editors’ Picks
Gold: Correction extends ahead of US ISM PMI
Gold price extends correction to fresh monthly lows near $4,400 in European trading on Monday, pressured by some profit-taking. The precious metal continues its downtrend after reaching historic highs last week as Kevin Warsh's nomination as the next Fed chair eases concerns over the US central bank’s independence, bolstering the US Dollar recovery. US ISM PMI Manufacturing PMI data is awaited.
EUR/USD stays weak near 1.1850 on firmer US Dollar
EUR/USD holds onto Friday’s losses near 1.1850 in the early European trading hours on Monday. The pair remains vulnerable to further downside as the US Dollar stays firm following President Donald Trump’s nomination of Kevin Warsh as the next Fed Chair. The focus now shifts to the US ISM Manufacturing PMI data.
GBP/USD drops below 1.3700 as markets mull a Fed under Warsh
GBP/USD stays under pressure below 1.3700 in the European morning on Monday. Traders weigh what a Federal Reserve under Kevin Warsh might look like, propping up the US Dollar at the expense of the Pound Sterling. The US ISM Manufacturing Purchasing Managers Index report is next of note later on Monday.
Cardano dips below $0.28 as bears eye October 2023 lows
Cardano price trades in red, slipping below $0.28 at the time of writing on Monday, following a correction of more than 15% in the previous week. The broader crypto market remains under pressure, with Bitcoin slipping below $75,000 on Monday.
Warsh effect ripples through markets, central banks on deck this week
The first full month of the year is behind us, and, honestly, it has been rather more dramatic than most had anticipated when toasting the New Year. We wrapped up last week with US President Donald Trump announcing his Fed Chair pick.
RECOMMENDED LESSONS
Making money in forex is easy if you know how the bankers trade!
I’m often mystified in my educational forex articles why so many traders struggle to make consistent money out of forex trading. The answer has more to do with what they don’t know than what they do know. After working in investment banks for 20 years many of which were as a Chief trader its second knowledge how to extract cash out of the market.
5 Forex News Events You Need To Know
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Top 10 Chart Patterns Every Trader Should Know
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7 Ways to Avoid Forex Scams
The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?
What Are the 10 Fatal Mistakes Traders Make
Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.
The challenge: Timing the market and trader psychology
Successful trading often comes down to timing – entering and exiting trades at the right moments. Yet timing the market is notoriously difficult, largely because human psychology can derail even the best plans. Two powerful emotions in particular – fear and greed – tend to drive trading decisions off course.