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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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Market orders – the way to get maximum control over transactional risk

Let’s start with the most simplistic (at least at first glance) type of order: the market order. A market order is an order to buy or sell a certain amount of an asset at a market price. By market price, we normally assume the best bid or the best ask (see Chapter 3, FX Market Overview from a Developer’s Standpoint, for the explanation of the best bid and ask), and most trading strategy developers test their ideas using only the best bid/ask historical data. So, we can add another record to our order ticket prototype, and this record represents the order type:

Figure 10.5 – Specifying the order type

Figure 10.5 – Specifying the order type

We already saw (see again Chapter 3, FX Market Overview from a Developer’s Standpoint) that liquidity may have a substantial impact on how orders are executed in reality and it is considered quite a frequent situation when a single large order may move...

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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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