Strategy used by BotGPT – Trading Strategies – 15 October 2023

Here is the explanation of the strategy used by the BotGPT expert advisor

BotGPT seeks to exploit trends as well as pullbacks. For this he uses a set of 2 trades which are called :

– Trade A for first

– Trade B for the second

Trade A : is the most often used, it is the one that is launched when a trend is detected by the EA. It is not particularly profitable, it is simply the first step in the strategy, it allows the EA to analyze market data live on its network.

Trade B : is therefore the 2nd trade launched when a decline occurs. It is therefore used less, between 2 and 6 times per month on average, it is this which is mainly profitable. The EA always analyzes the data in real time and decides according to certain criteria whether the opportunity is good to launch trade B.

Trade B always hits its take profit before trade A, once the take profit hits all trades are closed.

IN PRACTICE (see image below)

1/ We observe that the EA has detected a trend (SELL) and it therefore launches the trade A SELL (ticket12)

2/ The trend has marked a bullish break, the EA decides to launch trade B SELL (ticket 13)

Trade B will touch its take profit 1.07223 (in the green circle), all trades will be closed. (see image below)

To summarize, BotGPT is an intraday robot, specialized in the EUR/USD pair, it carries out between 10 and 20 trades per month on average, for a target of 5 to 8% profits per month. These are objectives and not guarantees of course.

All analyzes and backtesting were performed with ICMarkets.

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Do not hesitate to contact me if you have technical questions or about the choice of broker or VPS, I am at your service.

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