Automated Forex Market Trading Bot for Currencies VIA MT5 Platform

Author

Chitare, Maranatha

Title

Automated Forex Market Trading Bot for Currencies VIA MT5 Platform

Abstract

Forex trading is a highly paying market and it is a field that many people are venturing into. Though one can make huge profits by trading forex, it is equally risky as one can also encounter serious losses when trading. Trading forex therefore calls for serious knowledge, skill and experience so that the losses can be minimized and the profits can be maximized as well. It calls for highly informed decisions by the trader to execute trades in the forex market so as to make significant and consistent profits. By analysing the price movements in the forex market, I find an automated trading system more efficient than human beings when trading because it is not driven by emotions. Most traders seem to use emotions to trade which poses a high risk of encountering losses when trading. The development of an automated trading bot for currencies via the meta-trader 5 platform will eliminate this problem and it will place orders on behalf of the trader without the involvement of the trader

Date

2023

Publisher

BUSE

Keywords

Automated

Forex Market Trading Bot

Currencies

VIA MT5 Platform

Supervisor

Mr. Taredzera