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You're reading from  Getting Started with Forex Trading Using Python

Product typeBook
Published inMar 2023
PublisherPackt
ISBN-139781804616857
Edition1st Edition
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Financial Technology
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Alex Krishtop
Alex Krishtop
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Alex Krishtop

Alexey Krishtop is a quantitative trader and researcher with 20 years of experience in developing automated trading solutions. He is currently the head of trading and research at Edgesense Technologies and CTO at ForexVox Ltd. He develops market models and trading algorithms for FX, commodities, and crypto. He was one of the first traders who started using Python as the ultimate environment for quantitative trading and suggested a few approaches to developing trading apps that, today, have become standard among many quant traders. He has worked as a director of education with the Algorithmic Traders Association, where he developed an exhaustive course in systematic and algo trading, which covers the worlds of both quantitative models and discretionary approaches.
Read more about Alex Krishtop

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Event-driven trading strategies

An event-driven strategy mostly relies on non-market data such as economic or political news. We already considered the impact of these events on the market price (see Chapter 6, Basics of Fundamental Analysis and Its Possible Use in FX Trading). So, an event-driven strategy can attempt to enter when significant news hits the market and exit soon after.

The problem with strategies of this kind was also considered in detail in the same chapter: due to insufficient liquidity around the time of a news release, the price may jump in virtually any direction at an arbitrary distance, so you have no chance to place a trade at the desired price. At the same time, the return of liquidity may drive the price in the opposite direction, completely eliminating the potential for a profit in a few minutes (see Chapter 6 again for an example with the British pound and the release of the UK’s GDP figures).

I can confirm that profitable news traders used...

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Getting Started with Forex Trading Using Python
Published in: Mar 2023Publisher: PacktISBN-13: 9781804616857
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Alex Krishtop

Alexey Krishtop is a quantitative trader and researcher with 20 years of experience in developing automated trading solutions. He is currently the head of trading and research at Edgesense Technologies and CTO at ForexVox Ltd. He develops market models and trading algorithms for FX, commodities, and crypto. He was one of the first traders who started using Python as the ultimate environment for quantitative trading and suggested a few approaches to developing trading apps that, today, have become standard among many quant traders. He has worked as a director of education with the Algorithmic Traders Association, where he developed an exhaustive course in systematic and algo trading, which covers the worlds of both quantitative models and discretionary approaches.
Read more about Alex Krishtop

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