Member-only story
Beginning Forex Algorithmic Trading With Python
I finally got around to implementing my first Forex trading robot!
Introduction
For years, I have fantasized about building a Forex trading robot that would slowly and consistently increase its account balance. However, I was never really sure where to start. What company to use? How do I access the APIs? Is it safe?
Recently, I blocked off some time to learn what would be needed to develop such a system and it culminated in a very simple to implement python script. In the remainder of this article, I will detail how it works.
Disclosure: This article is not investment, tax, or legal advice, nor is it a solicitation for investment. Furthermore, I am not a financial expert and offer this only as a way to share my experiences.
Methods
Step 1 — Get a Forex Account
The first step is to open an account with a broker. After a bit of research, I decided to go with forex.com. Specifically their standard online account here. They have been around since 2006 and are part of the GAIN Global Markets Inc group which has been around since 1999. Their user base and trading volume seemed to make them a trustworthy platform. However, I have never used another broker so have no basis for comparison.
Creating an account on their platform can be done by following the instructions on their website and will work much the same way as opening an account with any other investment platform or bank.
Once you have created your account, email them at apisupport@gaincapital.com to request access to your API credentials. You will require a $5k balance if you want to trade on your main account or you can opt to have an account created with a virtual balance (not real money) of $50k. I chose the latter.
Step 2 — Write Trader Script
I started reading over the provided API documentation but it left much to be desired. In the hope of streamlining the process, I started searching forex.com’s forums and came across this open source Python client!
Important: Whenever dealing with sensitive information such as financial data it is important to vet any code…
