AI trading and copy trading are two of the most revolutionary and profitable trading techniques nowadays. Artificial intelligence (AI) and advanced technologies have reshaped the world of investment in the past few years. Trading has been made easier and financial markets entice new investors every day. Not only for beginners, AI helps traders to overcome many trading obstacles and have more profitable investments. Let's discuss both AI trading and Copy trading and how they helped in creating a better forex trading experience.
Most traders or investors in the financial market dream of having a system that automatically trades for them without the need for them to do anything else trading related. While no such system truly exists, algorithmic trading comes very close. Based on a recent market report, the global algorithmic market valued at $10.3 thousand in 2018 is anticipated to witness a CAGR of 10% over a forecast period (2022-2027). The demand for a fast, reliable, and profitable system is spearheading the growth of algorithmic trading. However, despite the availability of various materials, a beginner with a non-technical background might find it very difficult to follow a systematic approach to learning algorithmic trading.
The dollar was firmer around ¥113.40 in Tokyo trading late Wednesday, as investors retreated to the sidelines to see the U.S. consumer price index for November, due out later in the day. At 5 p.m., the dollar stood at ¥113.40-40, up from ¥113.11-11 at the same time on Tuesday. The euro was at $1.1324-1324, down from $1.1369-1370, and at ¥128.41-42, down from ¥128.60-61. After moving around ¥113.40 in early trading, the dollar rose to around ¥113.50 in midmorning trading as the benchmark 225-issue Nikkei stock average accelerated its upswing after a strong start. With its topside heavy around ¥113.50, the dollar mostly moved in a tight range above ¥113.40 in the afternoon amid a wait-and-see mood, traders said.
The dollar was slightly weaker below ¥112.30 in Tokyo trading late Thursday, hit by selling to lock in profits. At 5 p.m. the dollar stood at ¥112.21-21, down from ¥112.32-32 at the same time on Wednesday. The euro was at $1.1697-1697, down from $1.1700-1700, and at ¥131.26-27, down from ¥131.41-42. In the early afternoon, the U.S. currency rose above ¥112.20 in line with a rise in the benchmark Nikkei 225 average. The dollar fell below ¥112.10 after news broke around 2 p.m. that Prime Minister Shinzo Abe won a party election to continue leading the ruling Liberal Democratic Party, but the greenback soon recovered above ¥112.10.
On studying your charts you see an opportunity, a perfect double bottom and prices low in historical terms, now is the time to buy. You ring your broker to place the trade; however, the overwhelming confidence of paper trading has now deserted you. Perhaps you had better double-check the formation. After much deliberation you decide to phone the broker and the trade enters the market. For the next two days prices rise dramatically, your profits grow; you feel great, what an easy way to make a living.