Last update 2020.10.19
Are you planning to invest your money 💹? We can help you for free. In this article, we will cover how to trade forex efficiently and give you some essential tips on how to invest & make money using Artificial Intelligence (AI).
What you will learn ahead🎓
- Why you should consider forex trading
- Understanding the forex market
- How to trade forex efficiently
- What are the best forex trading tools
- What is best: AI trading or forex signals?
- How to use AI to trade forex and reach for extra money
- What are the best forex brokers to trade?
🎯 Regardless of your experience level in trading, our mission is to help you invest efficiently in forex and improve your results. Get extra valuable forex trading ideas from leading finance experts on the trading Academy and our free forex Telegram channel.
💹 When trading forex, we suggest you consider long term results.
Why you should consider forex trading
An important point to resolve when planning to become a trader is to decide where to invest. There are several financial instruments to consider, such as Stocks, Forex, Bonds, Treasury bills, Savings account, real state, and so on.
Forex is the short way of saying “Foreign Exchange“. This means the global market for trading international currencies, also known as the FX market through a forex broker. These are the key features of forex:
- Forex sessions are 24/5 from Sunday at 5:00 pm Eastern (ET) through Friday 5:00 pm.
- With an average daily volume of $6 trillion, forex is the largest and most liquid financial market in the world.
- Due to the large volume, forex offers great opportunities to invest.
- Due to a wide variety of existing Forex brokers, Forex has become increasingly affordable.
- You can start trading forex from just $1 or with a risk-free practice account with a lot of forex brokers.
- It’s possible to invest automatically in forex with AI trading.
- Portfolio diversification. Forex is used as a hedging instrument by large hedge funds. This means that you can also consider forex trading as a protection for your investment portfolio.
So, are you thinking about investing? Think of forex as part of your capital allocation. With Wiseinvest’s AI trading, you can invest automatically in forex from just $1.
What is the easiest way to trade forex?
There are two ways to invest with our AI in forex:
1. Automated with AI-Trading. Check out the 3 steps to trade automated with our AI.
By trading forex automated with AI, you will save time and improve your performance without monitoring the market and managing trading platforms.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.
Automated AI trading benefits ✅
- Setup in 3 minutes.
- Totally hands-off, from anywhere.
- Invest from just $1.
- APY of 40% over the past 13 years*.
- Lightning-fast execution & no slippage.
- No commissions, no management fees.
- Portfolio with 40 different automatic strategies.
- No MT4/MT5 or other platforms required.
- Test with a risk-free practice account.
- Trading results directly on our dashboard.
Don’t you have a broker account yet? Our AI is integrated to trade automated with the broker Oanda. Click here to open an account.
2. Manually with AI forex signals.
Wiseinvest also provides AI forex signals that perfectly fit into MT4, MT5, and any trading platform. To trade with our AI forex signals, you must simply copy the data you receive from each real-time signal into any forex brokerage account of your choice.
There are five unique variables for each AI signal, and each must be copied exactly, to match the performance of the signal as close as possible.
Each AI forex signal alert consists of the following five data points:
- Symbol (forex pair)
- Direction (long or short)
- Position size (number of units or lots)
- Take profit (price level to exit with maximum gain)
- Stop loss (price level to exit with maximum loss)
Check out how to trade with our AI forex signals.
- Subscribe to a Wise-Plan.
- Open a Brokerage account. Check this article about the best forex Brokers.
- Set an amount and a position size on our Wiseinvest dashboard.
- Our AI will send you real-time trading alerts by email and Telegram.
- Copy the signals and paste into your Brokerage account.
All forex signals are sent every time that our AI trading system identifies a new trading opportunity. Our trading strategies are developed on a variety of time frames such as 4 and 8 hours.
Wiseinvest AI forex signals are Market Orders and you do not need the entry price. You can copy each signal while it is available on our dashboard. We do this way to assure that traders will just place signals while they are good to be traded.
You can trade forex with our free forex signals clicking here, or with our Premium subscription that provides you unlimited AI signals and automated AI trading in partner brokers. Whether you are a beginner or a professional forex trader, our AI trading system can help you save time and improve your trading performance. Get started with free AI.
When investing through Wiseinvest automated AI trading or AI forex signals, you do not need to calculate pips and change the leverage in your forex broker account. Learn more about leverage in forex trading by clicking here.
The most traded Forex pairs
Do you know which are the most traded forex pairs? Here is a review of a survey conducted by the BIS bank.
- The US Dollar (USD 🇺🇸) is the most popular forex trading pair, with 88.3% of global trades involving the ever-reliable greenback.
- The second most popular currency in the forex market is the Euro (EUR 🇪🇺), accounting for 32.3% of trades.
- The Japanese Yen (JPY 🇯🇵) comes in at third place, with 16.8% of all trades involving this currency. However, the Japanese Yen’s share has dropped 5% in the last three years.
- Currencies that belong to emerging market economies contribute to 24.5% of all forex trades. This constitutes a rise of 4% when compared to the last BIS Bank survey, which was conducted in 2016.
- The British Pound Sterling (GBP 🇬🇧) accounted for 12.8% of all trades in 2019.
- The Australian Dollar’s (AUD 🇦🇺) share in global forex trading remained at a stable 6.8%.
- The Canadian Dollar (CAD 🇨🇦) and Swiss Franc (CHF 🇨🇭) each accounted for roughly 5% of forex trading in 2019.
- Trading in Chinese Renminbi has seen an increase that was in line with aggregate market growth. The Renminbi is at one side of 4.3% of all forex trades.
- The Hong Kong dollar has seen a surprising increase in the overall share of the forex market in the last three years. The HKD’s share has doubled from 1.7% in 2016 to 3.5% in 2019.
- The New Zealand Dollar (NZD 🇳🇿) has retained an unchanged percentage of the market – with 2.1% of all transactions involving this currency both in 2016 and 2019.
Would you like to learn more about the best forex pairs to trade? Click here to learn more.
The old concepts of how to trade forex 🧐
Forex trading involves buying one currency and simultaneously selling another. Currencies are traded in pairs, for example, The euro and the dollar (EUR/USD).
A trader does not buy dollars or euros physically, but a monetary exchange ratio between them occurs based on the price and no delivery takes place. When someone makes a trade in this market, they are not only buying a certain currency but are trading the pair at an exchange rate between the two currencies. In other words, buying the EUR/USD implies that the trade is paid for in USD, for every unit of EUR bought.
As forex rates and relative value fluctuate between currencies, different investment strategies can be structured, which may result in profits or losses.
Currency quotes usually do not vary dramatically over a short period of time, which should cast doubt on the veracity of the high return promises that often accompany investment offers in this market.
However, the use of margin-based trading, which creates potential leverage, can make forex trading a high-risk investment. It all depends on the amount of leverage used, and the size of your trades relative to your broker account balance.
The common process to trade forex is based on market analysis, opening a brokerage account, and then to start trading. The main problem, even for an economist, is that making market analyses can take a long time or be arbitrary.
So, if you have no experience in forex yet, you will spend days attempting to get a safe strategy that is good (unless you use our automated AI trading system).
Just to reinforce, Forex has some very nice benefits in terms of trading such as:
- its huge trading volume, representing the largest asset class in the world leading to high liquidity;
- its geographical dispersion;
- its continuous operation: 24 hours a day except for weekends, i.e., trading from 22:00 GMT on Sunday (Sydney) until 22:00 GMT Friday (New York);
- the variety of factors that affect exchange rates;
- the low margins of relative profit compared with other markets of fixed income; and
- the use of leverage to enhance profit and loss margins and with respect to account size.
However, even experienced traders who have other activities to run have limitations to invest. The forex market is gigantic and very dynamic. So, to find the best opportunities it’s essential to spend some time assessing the market.
How to trade forex and get better outcomes? 💹
Now you can use Artificial Intelligence (AI) to trade Forex automated, which is much more convenient and accurate. With AI you will invest better than a Pro, save the time of creating strategies and improve your performance.
The Best way to trade forex is by using the automated AI trading system that just requires linking a broker account on our dashboard. You can also trade manually in the broker of your choice with our ready-to-go AI-Signals. In both cases, you can take advantage of forex trading with a very accurate Artificial Intelligence-powered trading systems available from Wiseinvest. It is how many people have found successful results.
📌 The average annual return of our signals over the last 10 years was 43%.
After subscribing to a Wiseinvest plan you will have access to our dashboard to link a partner broker account and start trading forex better than an Expert with the automated AI-Trading. This is a totally hands-off trading system.
Check this article to learn more about how to trade forex with AI.
On the other hand, if you want to invest in the broker of your choice, our AI forex signals are the best fit. Our AI will alert you via email and Telegram every time that we have a new trade generated.
For trading with AI forex signals, on our dashboard, you will see the button to copy each field to paste into your forex brokerage account. You can set an amount and position size at any time to calculate the right amount to trade. Check this article about How to use AI Signals by clicking here.
Get started with our free AI trading or AI signals clicking here.
On Forex trading, positions can only be opened in certain volumes of trading units called contracts or lots, depending on the broker. A trader cannot buy, for example, 1,000 euros exactly, they can buy 1 lot, 2 lots or 0.01 lots, etc.
Is forex safe 🔒?
The forex market has been around since the early 1970s when exchange rates began to float. Forex is a market managed by many regulators, some of which are among the most important in the world, yet some jurisdictions are unregulated. That is why it is important to only choose highly-regulated brokers.
Some of the most important regulators are the CFTC in the USA and the FCA which is the UK regulator. However, some brokerages offer their services without regulation or with an exclusive regulation in Offshore areas (tax havens). While not all of these Offshores brokerages are fraudulent, you must be careful as the risks are higher.
One of the advantages of using a regulated broker, in the USA or Europe for instance, is that they have various mechanisms for defending clients.
In addition, American and European-regulated brokerages have several obligations that protect their clients’ money. So, yes, while forex can be a risky investment, it is safe if our broker is safe too.
When we say that forex is safe, it does not mean that it is certain that you will make profits. Profits depend on how you will trade, or what tools you will have to use to make a profit. We can help you on that.
What is the AI performance in forex trading?
The Win Rate of our AI shifts as indicated by the period and can reach up to 95%. The performance depends on the proficient wilderness estimation metric, which implies that our model is beneficial at whatever point the Win Rate is more prominent than 60%. All techniques of our AI exchanging framework look for stable returns and adequate outcomes to accomplish a normal return of 40% every year (APY), without the utilization of high influences.
We comprehend that what is important in forex exchanging is the conclusive outcome. Along these lines, the financial specialist needs to consider that Win Rate isn’t generally the best measurement to gauge execution in forex, as other signals suppliers unveil. For example, out of 100 exchanges, it is conceivable that lone 1 exchange is sufficient misfortune to make the 99 exchanges not productive. For this situation, the Win Rate would be 99%, yet the conclusive outcome would be unfeasible (negative).
We center around the arrival of 40% of APY and not simply on Win Rate.
It is basic to see that forex brokers may charge spreads, commissions, and overnight expenses in your trading account, and these elements can influence the AI execution. You can check our forex trading history to see more about AI Trading execution clicking here.
How much do I need to trade forex with AI?
You can begin in forex trading with free AI signals or AI Trading records and make a store from only $1 in the brokerage. It is likewise conceivable to test utilizing a hazard-free practice account with our AI Trading framework. In any case, so as to do a proficient hazard the board in genuine records, we recommend you start from at least $100. Notice that some forex brokers require diverse starting stores to trade forex.
What is the trading strategy of our AI?
Our AI trading strategy is the mix of various AI trading frameworks, with in excess of 100 features, that characterize 40 distinct strategies which at the same time consider: Quotes of the 28 forex symbols, Supports, and Resistances in various time periods, Trends and Counter-patterns, Cross-markers, Index of each pair, Economic Calendar, Investors Sentiment.
Our AI examines those fundamental, technical, and sentiment factors that influence forex trading, and all models are assessed continuously utilizing various loads. In the wake of finishing the investigation, the decision of the signal emanation technique is made considering the improved probability of momentary benefit and the sum accessible for speculation.
Using technical analysis, our calculation considers not just the examples of different patterns, including backing and obstruction levels and cross-pointers, yet our AI is likewise ready to make its own ongoing record for every money pair, that is utilized to distinguish what is the best course and target.
Comparable to fundamental analysis in forex, the AI makes a connection inside the financial schedule to discover news information that can influence explicit cash sets.
Learning Finance Is Critical to succeed in forex trading 📚
Having financial skills can bring success in your professional and personal life. We always recommend learning more about finance and trading. This is why we founded the free Trading Academy. It is also important to keep up to date on the most important economic news from serious sources of financial information. Our automated AI trading system is able to analyze economic news from Bloomberg, Forbes, and the New York Times in real-time, in order to evaluate the impact of forex trading.
Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.
The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs. FXCM warns that 74.74% of retail forex traders lose money trading CFDs.
The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.