How to use AI to create an automated forex trading strategy

AI technology is advancing at a rapid pace and many forex traders are keen to use the power of machine learning for their trading strategies. According to the Federal Reserve, more than half of all forex transactions use an algorithmic counterparty. Algorithmic trading vehicles account for more than two-thirds of forex trading. But most algorithmic trading requires strong computer programming skills that many stock traders don’t have.

AI and its applications continue to evolve. Every month, marketers are looking for better ways to diversify their business through bot marketing. In this article, we will look at some common ways to differentiate a trading strategy and then we will look at one of the latest AI trading software available to Forex traders:

What is a forex trading bot?

A forex trading bot, or trading robot, is an informal name for an algorithmic program that allocates forex trades based on a predetermined analysis. These ‘trading bots’ are designed to buy and sell currency pairs when specific signals are triggered by price action or an indicator or other factors that the trader chooses.

They are connected through APIs (application programming interfaces), which allow them to receive inputs from the market analysis software and then they can issue buy and sell orders through your brokerage, e.g. allow the program to implement their marketing plan.

Automated trading programs can be designed by traders with coding skills or can be added to your online brokerage account depending on the platform. Robo trading can provide two major benefits: it removes human input from your trading decisions, and it can open and close many trades at a very fast pace. Trading robots are used by professional traders in one form or another for the following reasons.

Of course, there are some pitfalls to using trading bots. Algorithm software is not always changeable, which means that market conditions can change the basis of your strategy. A breakout strategy that is used in a stock market can bring negative results and can happen quickly because there are many trading opportunities. Forex trading robots are persistent and if left unchecked, this can lead to a disastrous effect on the trader’s account when making subsequent trades.

How to robo trade forex

There are many ways you can start robo trading in the foreign exchange market. You can design your own algorithmic trading plan and connect that to your trading account via an API, or you can use AI technology like chatbots that mimic great languages ​​to optimize your plan. Some people may think that selling robots are guaranteed to make good trades, but you should be careful with those claims because the future is uncertain, even for a trading robot. And if the software is guaranteed to make money – why would they sell it to you?

Continue reading to learn more about algo trading and the extensive use of AI technology to develop automated trading strategies. Then discover’s own solution to robot trading with, an AI chatbot you can use today without any coding knowledge.

What is algo trading?

Algorithmic trading (or algo for short) is a type of robo trading that uses an automated computer program to open and close trades. The programs use a predetermined guide – an algorithm – to make trading decisions.

Like many trading bots, algo trading can execute trades better than a human can in an objective manner, helping to eliminate guesswork from buying and selling decisions. . Although many traders prefer to use algorithmic trading, the need for computer technology knowledge and a large amount of computer processing power are ways to keep traders trading each other. date from this automated trading system.

That said, algorithmic trading is a great option if you have the necessary computer knowledge, coding skills, and financial knowledge. Most algo trading strategies are based on price patterns or trading volume or some combination of indicators. The speed of algo systems and their ability to take in large amounts of information make them ideal for short trading periods as algos can think and act faster than mostly human traffickers.

How to create your own algo trading strategy

Most traders code their algorithmic trading strategies, but recently, some have turned to creating AI chatbots to code for them. Most options require knowledge of one coding language, such as MQL for MetaTrader. However, software like allows you to create algorithmic trading strategies with zero coding knowledge.

Usually, after creating an algo strategy, you need to go back and change the strategy to each trading platform provided by your brokerage. But with, backtesting and live account integration are built into the platform.

You can robo trade forex using AI learning models. translates standard and written recommendations into an algorithmic trading strategy, complete with automatic back-testing and seamless integration with trading platforms.

What is is an AI chatbot developed to facilitate forex transactions. You can enter trade orders in plain English, and translates those orders into an automated trading algorithm using a pre-built engine. works with accounts and back testing, as well as simulation, so you can see how the strategy works on a demo account in a live environment.

For example, you can write ‘if the EUR/USD 1-hour RSI is above 80, buy 1k of EUR/USD. Attach a position outside the income of 3% or in the last way of 2%.’ You can add other orders such as entry and exit points or other variables to further enhance the trading strategy.

Learn more about creating your own trading strategies with or watch our free webinar on getting started with at

How to use in forex trading

Follow these steps to start using to diversify your forex trading:

On your desktop:

  1. Create a free account here
  2. It connects to your account
  3. Accept the terms and conditions set by
  4. Start creating automated plans

On your mobile phone:

  1. Download for Apple or Android
  2. Select under ‘login via partners’
  3. Select the ‘free token’ option to create your account
  4. It connects to your account
  5. Accept the terms and conditions set by
  6. Start creating automated plans on your mobile device

Don’t have a account? Sign up for a demo trading account now.

Robo trading interview questions:

Can a forex trading bot work offshore?

Your forex trading bot must be connected to its API and your brokerage account to run. Some bots can work when you close your trading software, though. MetaTrader must be open to run your trades, but software like can run for weeks on its own without needing to log into your account. However, it’s easy to check once in a while to make sure your trading bot is running as planned.

What are transaction APIs?

Trading APIs are software application programs (APIs) that can be used to trade financial markets. APIs are required to implement automated trading strategies for technologies such as algo trading or bot trading.

APIs allow you to connect a brokerage account to market monitoring software such as TradingView. MetaTrader is a software program that requires an API connection to your trading platform.’s own REST API allows you to register your own algo design and add management functions such as monitoring your active orders and past trades with current market conditions . In short, APIs allow you to monitor market conditions and execute all trades in one system.

How much does a forex robot cost?

The cost of a forex trading robot depends on the system. Some vendors offer trading bots for a single price while others require monthly or yearly subscriptions. However, buying a third-party trading bot can be risky. Most sellers advertise amazing results only to close shop and disappear when you sell their bot.

Anyone who actually develops a successful trading bot will probably keep their success to themselves rather than selling it for a nominal fee. If each trader is given the key to trade a specific strategy, the strategy may not be the best as many buy and sell at the same time, such as the purpose of the plan. This is why professional traders with complex algorithmic trading bots created by quant traders are not exposed to the public.

To learn more about developing your own trading strategy, check out our extensive Trading Academy.

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