MoneyTec.com Traders Community Forum - View Single Post - If Forex is so lucrative then why many people are not interested in this?

peteuk · 27-01-2004, 04:05

Further lets say your system fires a buy just before an interest rate announcement that 50% of economists predict will stay put and the other 50% expect a hike - hmmm - do you take the buy signal???? And if so with what kind of stop - different to your usual 30-50pips??

In theory, assuming the system is already in a position, then stop and limit orders would already be in place. In practice, personally I'd want to exit any trades around news release and go have a coffee and read the paper for an hour or two until the market settled. Now if only there was a way to program the computer to understand news.....

There are lots of points of failure here so can you trust it?

That's the question for sure! Would I be able to sleep at night knowing a computer had total access to my account

Maybe a mini with a couple hundred bucks would do to start with!

If the position is taken that FOREX is a zero sum game, and if in time, everyone trades using these computers - who wins and who loses?
Basically we are talking about a kind of FOREX AI, artifical intelligence, that is able to read or adapt to changing market conditions. Would not all AI systems adapt instantaneously? Are some systems smarter than others?

lol, I guess you're right, we'll be back to square one after everyone has built bigger and better machines, maybe there'll be a Forex Resolution overseen by the UN for the global disarmament and disassembly of automated trading systems!

Thinking about it, these types of automated systems are already is use by all MarketMakers, every platform is automated, they have the edge, and if traders used an automated system it would only be levelling the playing field wouldn't it?

Have a great day all!

Pete

ps Johnny, you're living on a different planet if you really believe this isn't possible. Where you been for the past 20 years, didn't they have computers in that padded cell

Hey, remember Las Vegas and card counting, lol, now tell me the big guys don't get worried and want to protect their businesses. If it wasn't a threat why would they worry?
pps At least I have some credibility to lose, whereas....

27-01-2004, 04:05	#52 (permalink)
peteuk level 3 Join Date: Mar 2003 Posts: 581 Rep Power: 0	Further lets say your system fires a buy just before an interest rate announcement that 50% of economists predict will stay put and the other 50% expect a hike - hmmm - do you take the buy signal???? And if so with what kind of stop - different to your usual 30-50pips?? In theory, assuming the system is already in a position, then stop and limit orders would already be in place. In practice, personally I'd want to exit any trades around news release and go have a coffee and read the paper for an hour or two until the market settled. Now if only there was a way to program the computer to understand news..... There are lots of points of failure here so can you trust it? That's the question for sure! Would I be able to sleep at night knowing a computer had total access to my account Maybe a mini with a couple hundred bucks would do to start with! If the position is taken that FOREX is a zero sum game, and if in time, everyone trades using these computers - who wins and who loses? Basically we are talking about a kind of FOREX AI, artifical intelligence, that is able to read or adapt to changing market conditions. Would not all AI systems adapt instantaneously? Are some systems smarter than others? lol, I guess you're right, we'll be back to square one after everyone has built bigger and better machines, maybe there'll be a Forex Resolution overseen by the UN for the global disarmament and disassembly of automated trading systems! Thinking about it, these types of automated systems are already is use by all MarketMakers, every platform is automated, they have the edge, and if traders used an automated system it would only be levelling the playing field wouldn't it? Have a great day all! Pete ps Johnny, you're living on a different planet if you really believe this isn't possible. Where you been for the past 20 years, didn't they have computers in that padded cell Hey, remember Las Vegas and card counting, lol, now tell me the big guys don't get worried and want to protect their businesses. If it wasn't a threat why would they worry? pps At least I have some credibility to lose, whereas.... Last edited by peteuk; 27-01-2004 at 04:26.