Time to talk about brokers, how to place a trade programmatically and most importantly how not to get scammed. This is the third part of the series: How to build forex profit matrix scalping method own algotrading platform.
In our case, we don’t really care about spread as we won’t be doing High Frequency Trading any time soon. Even though brokers are regulated, there have been incidents in the past couple of years, were brokers folded due to certain conditions. What could happen is that you start making some money and you aren’t be able to pull them out. But let’s switch to a happier note which is opening an account and placing our first programmatic trade. API, libraries on github and a free demo account.
After you sign in to your demo account, go to Manage API Access. There you can find your API key which we are going to use in our system to place trades. MAKE SURE YOU DON’T SHARE THIS KEY. The code for this is and all other posts is on github and you can install it and run it pretty easily. Connecting to Oanda needs a conf file – which you can generate using a script that Oanda provides here or you can just create it yourself.
I prefer to know everything that is going on. And I don’t like having to install PyYAML just to read a conf file. Feel free to use either method. Check the current price is as easy!