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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
Concepts
Financial Technology
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Author (1)
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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Trade mechanics – again, some terminology

A trade is made when two parties meet and agree to buy or sell from each other. These parties are called counterparties.

If I buy 1 million euros for the equivalent in US dollars and the exchange rate is 1.1, then I paid 1.1 million US dollars to have a position of 1 million EURUSD. I am going to have this position until I sell back this amount of euros for the equivalent amount of US dollars and, therefore, liquidate my position and become market neutral again until I open a new position.

If I improve the asking price by sending an offer that is lower than the previous best offer, then I provide liquidity to the market.

If I simultaneously improve ask and bid, and other traders become counterparties for both, then I make the market. Making the market means earning the spread (the difference between bid and offer) while remaining market neutral. The market participant whose main business is making the market is called a market...

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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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