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RETAIL FX


from risk. This access to real- time data effectively helps stack the odds in the trader’s favour by enabling them to implement the same strategies typically reserved for institutional traders and interbank dealers.


Automation is becoming m o r e popular


The proliferation of online trading pl a t f or m s has


made


program the algorithm to execute a trade if a currency goes above or below a certain threshold, or if


it detects certain trade signals.


These trades can be carried out much faster than those made by


FX


out of trading, allowing for decisions that are based entirely on the data rather than human emotion.


Creating an even stronger edge, some brokers now offer clients the ability to code, backtest, and deploy


their


own automated forex trading strategies right from


it


easier than ever for people to enter the forex market on their own. In


addition,


the rise in the number of automated tools available to the average person has helped to lower the barrier to entry even further by bringing algorithmic trading, formerly available only to those working within established banking institutions, to the rest of the population.


The way they work is fairly simple: you give the algorithm a certain set of parameters for placing a trade, which is then executed automatically on your behalf. For example, you could


Today traders expect complete transparency in terms of liquidity pool, pricing and commission structures, and risk management models


a human, and they can happen at all hours of the day.


There are several benefits to


automated trading strategies. Where manual processes increase the risk of human error, automation can mitigate that risk. At the same time, it makes the entire trading process more efficient and reduces the amount of time that traders need to spend hunched in front of a computer screen. It has also been argued that automation takes the bias


leverage their


web browser, enabling them to


historical FX rates to simulate a real trading environment.


While the retail FX


industry


will continue to change over


the coming months and years, we believe these changes represent a positive


shift towards levelling


the playing field and creating a better-regulated environment in which traders can continue to trade the markets while safe in the knowledge that their capital is being protected. This, in turn, bodes well for the long-term sustainability of the industry.


Mohsin Siddiqui


Managing Director The Americas OANDA


FX TRADER MAGAZINE January - March 2019 61


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