below is code written by chat gpt after some training Certainly! Here's a code snippet that adds a breakeven stop and a cost-covering mechanism to an existing trading system. It includes input values that can be adjusted: -------------------------------------------------------------- //powerlanguage input: BreakevenEnabled(true), // Enable/disable breakeven stop BreakevenTicks(2), // Number of ticks to trail for breakeven stop CostCoverEnabled(true), // Enable/disable cost covering CostCoverTicks(4); // Number of ticks to cover cost vars: EntryPrice(0), // Entry price of the trade BreakevenTriggered(false), // Flag to track breakeven stop triggered BreakevenStopPrice(0), // Breakeven stop price CostCoverPrice(0); // Price to cover the cost // Place this code in the appropriate section of your trading system if MarketPosition <> 0 then begin if BreakevenEnabled and not BreakevenTriggered then begin // Check if the trade is profitable by the number of BreakevenTicks if MarketPosition = 1 and Close >= EntryPrice + BreakevenTicks * MinMove or MarketPosition = -1 and Close <= EntryPrice - BreakevenTicks * MinMove then begin // Set the breakeven stop price and flag it as triggered BreakevenStopPrice = EntryPrice; BreakevenTriggered = true; end; end; if CostCoverEnabled then begin // Calculate the cost covering price based on the entry price if MarketPosition = 1 then CostCoverPrice = EntryPrice + CostCoverTicks * MinMove else if MarketPosition = -1 then CostCoverPrice = EntryPrice - CostCoverTicks * MinMove; // Check if the current price reaches or exceeds the cost covering price if MarketPosition = 1 and High >= CostCoverPrice or MarketPosition = -1 and Low <= CostCoverPrice then begin // Exit the position to cover the cost Sell("CostCover") next bar at market; end; end; end; // Place this code where you enter a new position if BreakevenEnabled then EntryPrice = EntryPrice; // Set the entry price for the trade else EntryPrice = EntryPrice; // Set the entry price for the trade In this code snippet, you can adjust the input values BreakevenEnabled, BreakevenTicks, CostCoverEnabled, and CostCoverTicks to enable/disable the breakeven stop and cost covering, and specify the desired number of ticks for each. The code first initializes the necessary variables. Within the trading system, it checks if the breakeven stop is enabled and not yet triggered. If the trade becomes profitable by the specified number of ticks, it sets the breakeven stop price and marks it as triggered. Additionally, if the cost covering is enabled, it calculates the cost covering price based on the entry price and checks if the current price reaches or exceeds it. If so, it exits the position to cover the cost. Please integrate this code snippet into your existing trading system at appropriate locations for entering new positions and within the section where trade management occurs. Note that this is a simplified implementation, and you may need to adapt it to your specific trading strategy and platform. Always thoroughly test any modifications and consider the risks involved in trading.
What is going on here: if BreakevenEnabled then EntryPrice = EntryPrice; // Set the entry price for the trade else EntryPrice = EntryPrice; // Set the entry price for the trade
as I understand this part of the code can be safely removed without affecting the functionality of the code. However, I could be mistaken.
GPT is a deep learning model used to generate natural language texts and other types of data. It has been employed in market research to enhance decision-making, provide trading recommendations, and offer analysis tools. However, using GPT for market research poses challenges, including the need for specific prompts, the risk of unreliable outputs, and ethical/legal implications. Traders and investors must exercise caution, supplement GPT's outputs with their own research, and consider the potential implications.
Exactly. LLMs just process information that is already searchable, it doesn't generate new ideas. This is why it's even bad for legal questions in many countries where the information online is very limited.
What legal/ethical challenges? The Facebooks, Googles and Amazons today all run on open source code that they didn't pay even one cent to use it despite they'd face immediate collapse if they were forced to create their own proprietary software. Their ethics only go as far as whatever is trending at the moment - for now it's gender and skin color.