Kathy Lien
BKTraders and Prop Traders Edge
In this video, I take you through my experience letting ChatGPT code trading signals from scratch!
Key points covered include:
1. The initial trading strategy and objectives I aimed for.
2. The step-by-step coding process with ChatGPT’s guidance.
3. Challenges faced.
4. Key takeaways and improvements for future iterations.
By the end of this video, you'll understand the potential of AI in coding and how it could transform your trading methods!
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 edges above 1.1600 near six-week lows
EUR/USD holds ground after three days of losses, trading around 1.1610 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator, currently at 35 (neutral-bearish), shows momentum skewed to the downside.
GBP/USD remains below 1.3400 as US Dollar gains on Fed caution bets
GBP/USD edges higher after registering modest losses in the previous session, trading around 1.3380 during the Asian hours on Friday. The pair may further lose ground as the US Dollar receives support after Thursday’s US Initial Jobless Claims data, which reinforced expectations that the Federal Reserve will keep interest rates on hold for the coming months.
USD/JPY declines to near 158.00 amid intervention fears
USD/JPY holds near multi-month highs as intervention risks temper follow-through buying. Upbeat US data reinforce the view that the Fed can remain patient on easing. Political uncertainty in Japan weighs on the Yen as snap election risks keep sentiment cautious.
Editors’ Picks
AUD/USD holds ground as USD ticks down ahead of long weekend
AUD/USD turns sideways around 0.6700 during Asian trading hours on Friday, holding onto its Thursday’s gains. The Aussie pair turns sideways while the US Dollar trades subduedly ahead of extended weekend in the United States. Investors seek fresh cues on Federal Reserve’s (Fed) and Reserve Bank of Australia’s monetary policy outlook.
USD/JPY declines to near 158.00 amid intervention fears
USD/JPY holds near multi-month highs as intervention risks temper follow-through buying. Upbeat US data reinforce the view that the Fed can remain patient on easing. Political uncertainty in Japan weighs on the Yen as snap election risks keep sentiment cautious.
Gold’s rally hits pause near $4,640 as Trump calms Iran fears
Gold price tumbles to near $4,605 during the early Asian session on Friday. The precious metal edges lower as the US Initial Jobless Claims data boost the US Dollar. The US December Industrial Production report will be published later on Friday. Also, Federal Reserve Governor Michelle Bowman is scheduled to speak.
Bitcoin, Ethereum and Ripple rally pauses near key levels
Bitcoin holds above $95,400 on Friday after rallying 5% so far this week. Ethereum and Ripple followed BTC’s footsteps, hovering around key levels after their upside moves.
Why investors are rotating into Asia
This isn’t “Sell America” — it’s “Buy breadth.” Investors are diversifying away from narrow US leadership and looking for returns that aren’t concentrated in a handful of mega-caps.
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
In the fast moving world of currency markets where huge moves can seemingly come from nowhere, it is extremely important for new traders to learn about the various economic indicators and forex news events and releases that shape the markets. Indeed, quickly getting a handle on which data to look out for, what it means, and how to trade it can see new traders quickly become far more profitable and sets up the road to long term success.
Top 10 Chart Patterns Every Trader Should Know
Chart patterns are one of the most effective trading tools for a trader. They are pure price-action, and form on the basis of underlying buying and selling pressure. Chart patterns have a proven track-record, and traders use them to identify continuation or reversal signals, to open positions and identify price targets.
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.