Last update 2020.09.22
Limit orders specify the maximum price you will pay for forex trade. The pros and cons of doing this may not be obvious to most traders, however. At first, glance, limiting the price you pay for something sounds like a good deal.
Who doesn’t love a bargain? But what if a limit order actually ends up limiting your ability to make a trade in the first place? You can’t profit from something you didn’t get the chance to buy.
What you will learn ahead
- Understanding limit orders in trading
- Why limit orders are not the best tactic
- How to improve your forex trading experience
- How to use AI trading in forex
Professional traders are often heard to say that they worry less about making losses and worry more about missing a big opportunity. For this reason, Wiseinvest goes against conventional wisdom and recommends you use the automated AI trading system that can automatically trade for you.
Plus, it is possible to trade manually in any forex broker with AI forex signals, which are market orders for all entry signals instead of setting limit orders for a specific price.
The biggest disadvantage of using limit orders is that it can keep you from getting into a good trade. However, one big advantage for trades comes from using a limit (and a stop) order in combination for exiting your trade. Because the limit order is a special case order type that allows you to buy or sell up to a certain price level, it is perfect for use when specifying the moment the trade has paid you enough.
That’s why the Wiseinvest system specifies limits. Quick fluctuations won’t always work in your favor, but they will work often enough to give you a two to three percent statistical advantage.
The worst use for a limit order is combined with a stop (also called a stop limit order). If you use a stop order to protect your capital from losses. In this scenario, you trigger a stop, but then set a limit price and wait to exit when that price is available. This tactic assumes that fluctuation will work in your favor.
However, you could end up watching the trade run against you dramatically as if you never had a stop in place, to begin with. You will have a better chance of protecting your money if you use a stop to trigger a market order (a normal stop order). This gets you out of the position in the fastest possible way when you are making a loss. For taking profits, limit orders remain the best way to exit the trade.
The best 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 forex broker account yet? Our AI is integrated to trade automated with the broker Oanda and FXCM. Click here to open an account with FXCM or here to open with Oanda. Those are some of the best forex brokers in the world.
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, in order 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 clicking here.
What is the AI performance in forex trading?
The Win Rate of our AI moves as shown by the period and can reach up to 95%. The introduction relies upon the capable wild estimation metric, which infers that our model is valuable at whatever point the Win Rate is more noticeable than 60%. All methods of our AI trading system search for stable returns and sufficient results to achieve an ordinary return of 40% consistently (APY), without the usage of high impacts.
We appreciate that what is significant in forex trading is the definitive result. Thusly, the money related master needs to consider that Win Rate isn’t commonly the best estimation to measure execution in forex, as other sign providers uncover. For instance, out of 100 trades, solitary 1 trade may be an adequate disaster to make the 99 trades not gainful. For this circumstance, the Win Rate would be 99%, yet the convincing result would be unfeasible (negative).
We revolve around the appearance of 40% of APY and not just on Win Rate.
It is essential to see that forex brokers may charge spreads, commissions, and overnight costs in your trading account, and these components can impact 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 start in forex trading with a free AI signs or AI trading record and make a store from just $1 in the dealer. It is moreover possible to test using a danger-free practice account with our AI trading structure. Regardless, in order to do a capable peril, the board in authentic records, we suggest you start from at any rate $100. Notice that some forex traders require assorted beginning stores to trade forex.
What is the trading strategy of our AI?
Our AI methodology is the blend of different AI trading structures, with more than 100 features, that portray 40 particular procedures which simultaneously consider: Quotes of the 28 forex sets, Supports, and Resistances in different timeframes, Trends and Counter-designs, Cross-markers, Index of each pair, Economic Calendar, Investors Sentiment.
Our AI looks at those fundamental, technical, and sentiment factors that impact forex trading, and all models are surveyed constantly using different burdens. In the wake of completing the examination, the choice of the sign transmission procedure is made considering the improved likelihood of flashing advantage and the total open for theory.
Using technical analysis, our count considers not simply the instances of various examples, including sponsorship and deterrent levels and cross-pointers, yet our AI is moreover prepared to make its own progressing record for each cash pair, that is used to recognize what is the best course and target.
Practically identical to fundamental analysis in forex, the AI makes an association inside the budgetary calendar to find news data that can impact express money sets.
- Limit orders can limit the trades you enter, which is a statistical disadvantage
- Limit orders are best used for exiting with a profit so that you can capture the best profit from price fluctuation.
- Automated AI trading takes this into account and is automatically applied to the best forex brokers.
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. The forex broker Fxcm warns that 69.66% 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.