{"id":126421,"date":"2022-07-10T17:46:45","date_gmt":"2022-07-10T17:46:45","guid":{"rendered":"https:\/\/blog.finxter.com\/?p=464873"},"modified":"2022-07-10T17:46:45","modified_gmt":"2022-07-10T17:46:45","slug":"a-beginners-guide-to-forex-trading-bots-and-python-practical-projects","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2022\/07\/10\/a-beginners-guide-to-forex-trading-bots-and-python-practical-projects\/","title":{"rendered":"A Beginner\u2019s Guide to Forex Trading Bots and\u00a0Python \u2013 Practical Projects"},"content":{"rendered":"\n<div class=\"kk-star-ratings kksr-auto kksr-align-left kksr-valign-top\" data-payload=\"{&quot;align&quot;:&quot;left&quot;,&quot;id&quot;:&quot;464873&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;top&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" data-star=\"2\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" data-star=\"3\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" data-star=\"4\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" data-star=\"5\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"kksr-stars-active\" style=\"width: 0px;\">\n<div class=\"kksr-star\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<div class=\"kksr-star\" style=\"padding-right: 5px\">\n<div class=\"kksr-icon\" style=\"width: 24px; height: 24px;\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"kksr-legend\" style=\"font-size: 19.2px;\"> <span class=\"kksr-muted\">Rate this post<\/span> <\/div>\n<\/div>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"A Beginner\u2019s Guide to Forex Trading Bots and\u00a0Python - Practical Projects\" width=\"780\" height=\"439\" src=\"https:\/\/www.youtube.com\/embed\/uFxXLDTe7es?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p class=\"has-base-background-color has-background\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/14.0.0\/72x72\/1f30e.png\" alt=\"\ud83c\udf0e\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" \/> <strong>Full Course<\/strong>: Check out the full beginner course on Forex trading on <a rel=\"noreferrer noopener\" href=\"https:\/\/blog.finxter.com\/full-course-a-beginners-guide-to-forex-trading-bots-and-python\/\" data-type=\"URL\" data-id=\"https:\/\/blog.finxter.com\/full-course-a-beginners-guide-to-forex-trading-bots-and-python\/\" target=\"_blank\">this Finxter page<\/a> (5 video lessons). <\/p>\n<p>As a Python beginner, or anything else new that we dive into, everything is fresh and exciting for a while and we have no problem staying motivated to do the work and move ahead.<\/p>\n<p>It\u2019s no wonder you can stay fired up when you are learning the most popular language, in a field that looks promising for years to come, and its innovations will shape the future.\u00a0That\u2019s exciting!<\/p>\n<p>There\u2019s a book that summarizes the next step in your journey, whether it be Python, Forex, business, freelancing, or anything else. It deals with what most people call, \u201cbeing at the intermediate level.\u201d<\/p>\n<p>It\u2019s called \u201cThe Dip\u201d, by Seth Godin. Like most \u201cself-help\u201d type books, even though this one is only around 100 pages, it could have been done in 10 or 15.\u00a0In this case though, the author gets an \u201cA+\u201d for the concept.<\/p>\n<p>The idea that after the honeymoon, there will be a period of uncertain struggle on where to go next. Python has the mother of all dips.<\/p>\n<p>To wrap up this beginner\u2019s guide, I want to help you find your way through the dip and come out the other side a success.\u00a0 That \u201cway\u201d is in the title &#8211;<a href=\"https:\/\/youtu.be\/dLPqizZoZZo\" target=\"_blank\" rel=\"noreferrer noopener\"> \u201cPractical Projects.\u201d<\/a><\/p>\n<h2><a><\/a>Freelance and Get Some Work that Uses Your Python Skills<\/h2>\n<p>Doing a project for someone who doesn\u2019t know how, or have the time to do it themselves, is a great way to put your Python skills to the test.<\/p>\n<p>The great thing about freelancing your skills, is you never know what someone is going to need, and this can give you a great variety of projects.<\/p>\n<p class=\"has-global-color-8-background-color has-background\"><strong>PRO TIP: <\/strong>Don\u2019t wait until you \u201cfeel\u201d ready.&nbsp; You will never feel ready &#8211; what you need is confidence &#8211; by doing some real work, learning from your mistakes, and not making them again.<\/p>\n<p>Getting started on a platform like<a href=\"https:\/\/youtu.be\/d9g871LoeMc\"> Upwork<\/a> is simple and you will know which projects you can handle, and which ones you can\u2019t &#8211; besides, it\u2019s good for you to take a couple that will push your skills and require you to learn how to complete them.<\/p>\n<p>Here are a few more Ideas for some real-world projects:<\/p>\n<h2><a><\/a>Data Analysis Projects with Python and Its Libraries<\/h2>\n<p>We went through some simple examples of what you can do with data earlier in the series.&nbsp; Let\u2019s break down a sample in detail:<\/p>\n<ul>\n<li>Think about a subject that interests you, and where you can find data collections for that topic.<\/li>\n<li>Do a search and find some downloadable files from their collections.<\/li>\n<li>Pick a file that suits your project, download the CSV, (I hope you\u2019re using Anaconda and Jupyter), clean it up and organize it, then see what types of patterns, if any, you can identify.\u00a0 I grabbed historical data on interest rates from the Fed\u2019s website for my last analysis.\u00a0 There is so much information out there for free that we will never be able to cover a tiny percentage of it.\u00a0 So narrow it down to your specific needs.<\/li>\n<\/ul>\n<h2><a><\/a>Projects and Tests for Forex Trading and Python<\/h2>\n<ul>\n<li><strong>Form a hypothesis<\/strong> &#8211; \u201cIs there a correlation between the EUR\/USD and WTI?\u201d\u00a0 In light of recent global events, one would be safe in questioning crude oil\u2019s affect on the entire world.<\/li>\n<li><strong>Do a comparison<\/strong> &#8211; Do you remember in a previous lesson when I demonstrated how to overlay one instrument with another on your charts? This is a simple way to look for correlation. Remember, correlation can be positive or negative.<\/li>\n<li>Look to see if one or the other seems to \u201clead\u201d its partner.\u00a0 This can be a great way to see into the future &#8211; so to speak.<\/li>\n<li>If your theory looks promising, question if there is a way to quantify and automate the information using Python.\u00a0 This would also be a good time to start digging into machine learning.\u00a0 Use Python to streamline the process and set alerts.<\/li>\n<\/ul>\n<p>This is a hypothetical situation I created as an example. <strong>&nbsp;Do not<\/strong> trade any theory from <strong>anyone <\/strong>without thoroughly testing it <strong>yourself.<\/strong><\/p>\n<h2>Sources for Datasets<\/h2>\n<ul>\n<li>Governments collect data and make it available to the public on their websites.\u00a0 Records of everything from NFP to GDP, and weather events can be found with a little effort.<\/li>\n<li>Central banks, the IMF, and the World Bank also issue reports and data on a variety of economic indicators and predictions created by their own experts.<\/li>\n<li>Be wary of \u201cadvice\u201d sites that are trying to sell you something &#8211; look for facts gleaned from statistics and research instead.<\/li>\n<\/ul>\n<h2><a><\/a>Get on Board with a Broker and Get a Robot<\/h2>\n<p>We have already discussed how to choose a broker, and did some analysis together on the subject.&nbsp; With the regulations in place these days, it\u2019s really easy to find one that is legit.&nbsp; It will boil down to personal preference in the end.&nbsp; Make sure you feel comfortable with your choice, and that they have responsive customer service so you can communicate easily.<\/p>\n<p>As a beginner, just like with Python, it\u2019s important to start getting some experience while you\u2019re learning to code your own bots. Using a ready-made bot on a demo account is the best way to get going and see if automated trading is right for you.<\/p>\n<p class=\"has-base-background-color has-background\"><strong>REMEMBER: <\/strong>Don\u2019t make it all about the money just yet &#8211; the <strong>knowledge<\/strong> you\u2019re getting in the process is the real value.&nbsp; If you have followed the steps in this series, you should already be on your way to safely<a href=\"https:\/\/youtu.be\/6TaDWneIKKg\"> making money with Python.<\/a><\/p>\n<h2><a><\/a>Bonus for Finishing the Beginner Series on Forex Bots and Python<\/h2>\n<p>For all of you who have stuck it out until the end of our beginner series, I\u2019m going to give you some analysis that will demonstrate the many different ways to go about your trade planning &#8211; they\u2019re endless, which is what makes Forex so interesting.&nbsp; No matter your style, you can find a system that fits.<\/p>\n<p>In the accompanying video, I\u2019m going to give some high-level tips and analysis on the EUR\/USD pair that we have been using in the series, and explain what <strong>actually<\/strong> makes currency values change.<\/p>\n<p>Check out the video, and it has been a pleasure sharing this information with you.<\/p>\n<p>Here\u2019s to good trading and good luck!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rate this post Full Course: Check out the full beginner course on Forex trading on this Finxter page (5 video lessons). As a Python beginner, or anything else new that we dive into, everything is fresh and exciting for a while and we have no problem staying motivated to do the work and move ahead. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[857],"tags":[73,468,528],"class_list":["post-126421","post","type-post","status-publish","format-standard","hentry","category-python-tut","tag-programming","tag-python","tag-tutorial"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/126421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=126421"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/126421\/revisions"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=126421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=126421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=126421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}