The Forex-Ai Autotrader

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Does this sound familiar?

You are watching the EUR/USD and the price is just breaking through the resistance line. You see significant buying interest. You jump in, to ride the trend as you have learned it in several Ebooks you have read over the past few years.

As soon as to get in, the chart started moving 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 disciplined. Only a few minutes later the price moves down and snaps your stop order. Not again! Another 25 pips down the drain.

Then

Soon after your stop order was hit, the price starts moving up again and within minutes it shoots us 50 points. You were right all along.

It is frustrating isn’t it?

Well, it happened to me too, many times. Working with small time frames, 1, 2 or 5 minutes you tend to use small stop loss orders, like 20 or 30 pips. The problem using such small stop loss orders that is that it often 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 hours charts and shooting for larger pips per trade. The problem using those longer time frames however, that it becomes boring over time.

What usually happens, that you want to trade if you are sitting on front of your computer. That is why amateur 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 MetaFrame. It can automatically place trades for you while you are away from your computer.

I found most of the Expert Advisors to be 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 suit the new market condition.

This is when Artificial Intelligence can help a bit. Using AI 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 played with recently is forex-ai.



Source by Steven Zed

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