What is Expert advisor in forex trading?

Forex Expert advisor (Forex EA) is a special software to the platform mt4, in which the automated trading algorithm is registered. Robot is written in a special programming language that is compatible with the Metatrader 4 platform and installed in the terminal for self-trading.

Excerpt from the conference:

Why do i need a forex robot? 

Probably if you are new to the forex market you will ask this question. Maybe you think that the human brain can process the chart information better and make better forex analysis and decisions about the possible market directions. Well… you are wrong. The forex market is unpredictable as the most things in our lives. If the market becomes predictable, it will stop existing. Then what can we do? We can monitor and find specific market situations after which something is happening. Of course, you will never find such case in where after A follows B in 100% probability. But you can find a 60% one. And this will lead to developing a forex trading strategy and when the strategy is crystal clear, it can be coded into expert advisor. If we need to make an expert advisor definition, it will be — trading robot based on statistics.

Some automated Forex bots are capable of scanning multiple charts in a way that humans cannot physically. In addition, robots are developed with specific parameters required for making trading decisions. Using the implemented trading signals, they determine when it is appropriate to trade or, conversely, to wait. The best Forex bot offer solutions for finding profitable trades even in volatile markets when the current trend direction is unclear. Automated Forex robots follow the best trend to increase profits and possibly eliminate the chances of possible losses.

Advantages of forex robots

Automated trading minimizes the impact of emotions associated with the trading process. By controlling their emotions, it is usually easier for traders to stick to their basic plan.

Since the trade orders are executed automatically as soon as the rules of the transaction are followed, traders will not be able to hesitate or doubt the transaction.

The next advantage is the possibility of backtesting. When testing on historical data, trading rules are applied to historical market data to determine the viability of a strategy. Traders can try these rules with forex EA free and test them against historical data before risking money in live trading.

Trading discipline is often lost due to emotional factors such as the fear of losing or the desire to make a little more profit from the exchange. Forex experts helps maintain discipline because the trading plan will be followed exactly.

-------------------------------------------------------------------------------------

We will tell you about:

- what strategies for successful trading exist on forex

- differences between manual and automatic trading

- why professional traders around the world use trading advisors

- how to choose a profitable forex advisor

- how to use the strategy tester and where to download Forex EA for free

- how to install forex EA on your computer

- how to start your own forex trading business

- how much can you earn with a forex advisor?

This is how your account profit chart might look like when trading with an automated robot trader forex: