AI Forex Trading with Matt Footner
AI Forex Trading expert Matt Footner runs Simply Bots. That is a company that has developed an AI solution that enables investors who are not Forex experts to trade automatically. His platform has made his clients a lot of money in 2021. So, how has he done that? Customer service is at the core of the answer, but there is a load of tech that makes everything work so well for his clients.
A Fantastic AI Forex Trading Team
Matt was very humble. It was his supremely talented team who created the AI bot. But, we wouldn’t be far wrong by saying that Matt inspired the work! Bot is short for robot. A slave to humans. Well, that is until they get so clever that they take over the world.
The rationale for using AI is that it takes the emotion out of trading. So what do the bots do?
So, what questions should you ask BEFORE going into foreign exchange trading using an AI bot?
Kevin made the case that he knows next to nothing about Forex Trading.
$6 Trillion FX Trading Per Day!
The markets are open more or less 7 days per week. And $6Tn is traded in forex every day.
This kind of trading is about passive income. You can find more about Matt and his company at: fxplusrange.com
Tolerance to Risk
Matt says we have all got a tolerance to risk. He is 50 years old, he had his kids when he was young and a couple of years back, financially they were off his hands. Unlike other families who have their kids a bit later in life, at Matt’s age they might be more risk averse, as they have more current commitments.
FX Plus Range The 5 range is a lower risk option, and offers around 5% per month.
Matt’s background is financial Services. He was a financial adviser. As one of them, your main aim is to protect the client’s principal and then get growth. In the financial industry, the people that make the big money are the FX and Hedge fund guys. They make money off money.
Too Good to be True?
Fibonacci Curve – the Golden Triangle
See an article about the Fibonacci Curve and Forex Trading:
How it works – human emotion
Volatility is the friend of the forex trader. Matt said that when President Trump sent out a ‘mean tweet’, which is not the moral equivalency of shuttering a pipeline from Canada, then going cap in hand to OPEC, or leaving Americans stranded in Afghanistan – it lead to fluctuations in the foreign exchange rates.
Euro to Dollar 1.13322 (2 Dec 2021) – so over the year the dollar has DEPRECIATED against the Euro.
It’s thrown the financial advice truisms out of the window. As Matt said, if you want a salary of £60k pa, then you’d need to retire with £1.2m. Now, Matt has clients with less than £100k on his platform, and they are taking £5k after fees per month.
For the Everyman
Fancy £5k per month?
The strategy is based on human emotion. The first bot, for his wife, was doing around 20% per month. £12.5k generating £3k per month. The solution is now a fund. He has 15 bots each with £1m. The margin to fail is lower.
Any major headlines, is great for FX trading. Speculation, not so much.
But remember the RULE OF MANUAL TRADING – 90% of people, lose 90% of capital, within 90 days of trading. So AI takes the emotion out of trading.
Matt Gives The Next 100 Days Podcast a Testimonial
Get in touch with The Next 100 Days hosts…
Finely Fettled helps out financial advisers, investment brokers and care homes to market to affluent and high net worth customers. Meet Professionals – This is Graham’s business focused on providing lead generation systems for financial advisory companies.
Kevin is a Chartered Accountant who has worked as a management consultant for a number of years specialising in finance transformation and implementing business change. Currently he is COO of GrowCFO. GrowCFO is Where Finance Leaders Grow Together. Becoming a successful CFO requires commitment and dedication towards delivering your full potential. GrowCFO provides both a community and CPD accredited training designed to grow the next generation of finance leaders. You can find Kevin on linkedin and at kevinappleby.com