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What’s an Algorithmic Trader?
As the name suggests, you’re an Algorithmic trader if you prefer to trade with by automated algorithm rather than human discretion.
You may have purchased a platform off-the-shelf or coded it yourself. Either way you prefer a 'low-maintenance' approach to your trading, letting your code execute buy and sell orders once the market meets pre-set trading triggers.
Human error is removed while backtesting helps refine your approach using historical data. You can also trade while you sleep!
What resources are available?
Learn more about trading Forex with us from our comprehensive trading guide.
Will I always be an Algorithmic Trader?This style matches your current fondness for computers and technology to make the right decisions, but down the track you might adjust your trading style. So revisit this summary again, 12 months into your forex trading career and see if you have remained an Algorithmic Trader, or if you’ve become a Scalper, Swing Trader or Position Trader. REMEMBER, Forex trading in your suggested style will not guarantee success. |
What is my next step?Where to from here is up to you. You might go for more learning by attending one of our regular webinars run by experienced traders, or you might take a course or two at IG Academy. Or maybe you’ll read up on the latest market news and trade ideas from analysts around the world and put your new knowledge into practice using virtual funds on a demo account. |
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Will I always be an Algorithmic Trader?
This style matches your current fondness for computers and technology to make the right decisions, but down the track you might adjust your trading style.
So revisit this summary again, 12 months into your forex trading career and see if you have remained an Algorithmic Trader, or if you’ve become a Scalper, Swing Trader or Position Trader.
REMEMBER, Forex trading in your suggested style will not guarantee success.
What is my next step?
Where to from here is up to you. You might go for more learning by attending one of our regular webinars run by experienced traders, or you might take a course or two at IG Academy.
Or maybe you’ll read up on the latest market news and trade ideas from analysts around the world and put your new knowledge into practice using virtual funds on a demo account.
All forms of investments carry risks. CFDs are leveraged instruments. Trading CFDs may not be suitable for everyone and can result in losses that exceed deposits, so please ensure that you fully understand the risks and costs involved by reading the Risk Disclosure Statement and Risk Fact Sheet.
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