Can machines replace human traders?
Financial markets never sleep. The trade in financial instruments has long been a global marketplace, operating round the clock.
But increasingly, market continuity is maintained not only by human intervention, but also by algorithmic tools; the world of finance deals with statistical data and quantitative figures that make it a perfect area for machine learning (ML). As such, financial services benefit a lot from deploying “intelligent” computer systems.
In addition, the trading world requires fast and sometimes immediate actions. Speed is vital for a trader to become a competent player in the market. Machine learning algorithms can accelerate data processing and provide a solution for managing vast amounts of data. Also, a machine learning system can easily spot complex patterns; if a substantial amount of past data is properly recorded and analyzed, then a model can be built to predict future events (at some confidence).
Technical Analysis: What you can and what you can’t do
Technical analysis is a series of analysis methodologies for predicting the price direction of the markets by studying charts and by using markets statistics. These methodologies provide buy and sell decisions.
Technical analysts use mostly two categories of methodologies: technical indicators and price action. Technical indicators are mathematical formulas that contain past data (price, volume etc). Price action refers to the research of the current price regarding past prices and to the research of some patterns on a chart that statistically may produce buy or sell signals.
Day Trading Routine
Each day a trader should go through a simple process to ensure that they are prepared for the markets, both mentally and professionally.
Below is a breakdown of the typical daily routine of a professional trader:
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