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Using google trends data for stats paper12/9/2023 ![]() The former uses macroeconomic factors while the latter uses historical data to forecast the future price or the direction of the price. Two types of techniques are used to predict future values for typical financial time series-fundamental analysis and technical analysis-and both can be used for Forex. Some of these advantages include no commissions, no middlemen, no fixed lot size, low transaction costs, high liquidity, almost instantaneous transactions, low margins/high leverage, 24-h operations, no insider trading, limited regulation, and online trading opportunities. These differences can bring advantages to Forex traders for more profitable trading opportunities. The characteristics of Forex show differences compared to other markets. It is a decentralized market that operates 24 h a day, except for weekends, which makes it quite different from other financial markets. Forex is the world’s largest financial market, with a volume of more than $5 trillion. ![]() The foreign exchange market, known as Forex or FX, is a financial market where currencies are bought and sold simultaneously. Our proposed hybrid model, which combines two separate LSTMs corresponding to these two data sets, was found to be quite successful in experiments using real data. We utilized two different data sets-namely, macroeconomic data and technical indicator data-since in the financial world, fundamental and technical analysis are two main techniques, and they use those two data sets, respectively. In this work, we used a popular deep learning tool called “long short-term memory” (LSTM), which has been shown to be very effective in many time-series forecasting problems, to make direction predictions in Forex. The direction prediction requirement makes the problem quite different from other typical time-series forecasting problems. However, incorrect predictions in Forex may cause much higher losses than in other typical financial markets. It is also a very simple market since traders can profit by just predicting the direction of the exchange rate between two currencies. Forex (foreign exchange) is a special financial market that entails both high risks and high profit opportunities for traders.
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