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Digitalization of data analysis tools as the key for success in the online trading markets

Published Online: Aug 7, 2021
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Abstract:
Digitalization is the process, which takes places in the contemporary world, severe competition in all markets, growing demand for new and easy technologies, changing software user preferences, and much more. For the past decades of years, the share of online forex trades that had place in the world accounted for more than 90% of all forex deals. This article discusses the main points of the online trading, the prospects of this industry and key factors that may affect the industry; also, the crucial attention was paid to the online trading tools segment, as a part of the immense market in general and as a tool in the portfolio of every modern online trading specialist. The online commerce industry is one of the largest and fastest growing sectors of the world economy. It creates jobs and assets, makes people richer and provides truly equal access for all. An analysis of existing online trading tools, such as the MT4 platform, was conducted. The main characteristics of online trade in European countries and the problems of its development in Ukraine are studied. The main components of trade in the supply area were studied in detail. Based on the research of the authors, the algorithmic rules of the automated trading system (expert advisor) were described and its software implementation is created. Similar automated systems are especially helpful when specialists need to work with many charts and timeframes at once, because the system might indicate the proper market situation better, and the system won’t have any human-biased feelings, just pure strategies and algorithms.
Keywords:
Pages:
222-233
JEL Classification:
C190, G150, F370
How to cite:
Roskladka, A., Baiev, R. (2021). Digitalization of data analysis tools as the key for success in the online trading markets. Access to science, business, innovation in digital economy, ACCESS Press, 2(3): 222-233. https://doi.org/10.46656/access.2021.2.3(2)
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