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How Much Artificial Intelligence Has Changed the Forex Trade

#artificialintelligence

The use of Artificial Intelligence is limitless. It has already impacted almost any segment of our lives. It helps us get feedback from brands in real-time; it minimizes the risk of human error and automates most of our daily activities; it improves the photos we take on our smartphones; it assesses our creditworthiness, and so forth. One of the markets that benefit from artificial intelligence and Machine Learning most is forex trading. Namely, forex is the ever-growing industry that is worth $1.93 quadrillion.


How is AI revolutionizing FX market in a way we didn't even realize

#artificialintelligence

The foreign exchange or forex market is the biggest financial market in the world. It is even bigger than the stock market. Moreover, the forex market continues to grow, and one major reason for this is the use of the latest technologies, including artificial intelligence. In fact, it wouldn't be wrong to say that AI is revolutionizing forex trading. According to the 2019 Triennial Central Bank Survey of FX and OTC Derivatives Markets, the forex market has a daily volume of $6.6 trillion. When so much money is at stake, it is natural for market participants to demand and develop tools that help to reduce their risk and increase their accuracy.


Machine Learning in Forex Trading

#artificialintelligence

With so many advances in technology and analysis tools, it's getting hard for traders to keep up. One of the highly discussed topics is machine learning. If you want to know where these two fields intersect, let's first clarify what each of the terms means. Foreign exchange, or Forex, is the process of converting one currency into another. The value of every specific currency is determined by market factors such as trade, investment, tourism, and geopolitical risk.


Army of Japanese, eager to make extra money, rocking global currency markets

The Japan Times

Watanabe" -- the canny Japanese housewife who dabbles in currency trading in between school runs and shopping -- barely begin to tell the story of the nation's retail traders in the foreign exchange market. With almost 800,000 active forex accounts, Japan boasts the world's most powerful force of retail traders. It has doubled in size in little more than a decade and spurred some of the most dramatic price moves of recent times, including the January "flash crash" that hammered the dollar and sent the yen soaring. Watanabe," most of the traders are middle-age men, who've been driven into the market by years of ultra-low interest rates. They toil in offices by day and trudge home to moonlight in foreign exchange, hoping to build a family nest egg in a country where banks pay savers next to nothing.


Army of Japanese, eager to make extra money, rocking global currency markets

The Japan Times

Watanabe" -- the canny Tokyo housewife who dabbles in currency trading in between school runs and shopping -- barely begin to tell the story of Japan's retail traders in the foreign exchange market. With almost 800,000 active forex accounts, Japan boasts the world's most powerful force of retail traders. It has doubled in size in little more than a decade and spurred some of the most dramatic price moves of recent times, including the January "flash crash" that hammered the dollar and sent the yen soaring. Watanabe," most of the traders are middle-age men, who've been driven into the market by years of ultra-low interest rates. They toil in offices by day and trudge home to moonlight in foreign exchange, hoping to build a family nest egg in a country where banks pay savers next to nothing.