Forex Trading Book Guide You To Successful Forex Trading Strategies

The Best AI Trading Robot?

05.16.2010 · Posted in Currency Trading

Has it happened to you too?

You are watching the trend and watching the chart breaking through the resistance level . You notice significant buying interest. You jump in, to ride the trend as you have learnt it in several Ebooks. Or perhaps you have read it in a few books over the past many years.

As soon as to get in, the chart moves downwards. You are watching in disbelief as the price is getting closer and closer to your stop loss order . You are staying in, because you know, you have to stay and stick to your rules . Then only just after a few minutes the price moves down and hits your stop/loss . Dam ! Another 25 pips down the toilet .

Then

Then, straight after your stop order was snapped , the price starts moving up again and within minutes it goes up 50 points. I knew I was right  you say to yourself
It is frustrating isn’t it?

It happened to most of us . Working with small time frames , 1, 2 or 5 minutes you tend to use too small stop/loss orders , like 20 or 30 pips. The problem using such smallS/L orders that is that it often quickly gets hit as the price moves in an erratic way .

People who make money on the Forex market often take a longer term approach and use 1 or 4 hour bars and aiming for larger gains per trade. The issue using longer bars , that it becomes boring over time .

What usually happens, that you want to trade if you are working on front of your computer . That is why most Forex traders often use the 1 or 2 minutes charts, so they can actively trade 4-5 or even 20-30 times during a session . This type of trading makes the broker rich, but not the trader .

But how do you trade using longer time frames like 1 or 4 hours? The opportunities often occur when you are asleep, at work or went out for shopping.

Well there is a solution:

Use Expert Advisors for MT4 . It can automatically place trades for you while you are away from your computer.

The problem with most of the Expert Advisors are just toys and really don’t make money on the long term because the market is changing all the time . You need to keep changing the parameters to learn the new market condition.

This is when Artificial Intelligence can help a bit . Using Neural networks in your forex trader can take the experience needed how to tweak those parameters , because the AI engine can learn the new market conditions and can do it for you. One such system I worked with recently is forex-ai.

Steven Zed

I am a professional Forex trader since November 2007. I mostly trade the majors on a longer time frame. You can contact me on http://www.metavest.com

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