Forex Expert Advisor

Inexperienced beginners are always interested in finding a trade robot that does all the work, so that the trader does not have to lift a finger. This idea has been pursuing all traders of the computer age. And the burden of responsibility for decision making, which wears out the nerves and psychics of trader, now falls squarely on the trading forex expert advisors.

What is a Forex Expert Advisor?

The forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, this is why the advisors are called experts or mechanical trading systems (MTS). Simply put, this is a program sending applications to a broker without any intervention of the trader. You install a profit forex expert advisor to the existing forex online trading platform, which is connected to the server broker, adjust all the settings, and after that the advisor begins trading according to a preset strategy.

Benefits of Forex Expert Advisors

From a psychological point of view, the forex expert advisor is irreplaceable. A trader decreases the responsibility for decision-making, and the trades become less stressful. The trader does not need to have an in-depth knowledge of technical and fundamental analysis, since all the calculations are already included in the program. Besides, the advisor is able to handle the trading signals even when the trader is absent from the workplace.

Writing An Forex Expert Advisor

Forex Expert Advisors for MetaTrader4 are written in the MQL4 programming language. This language was developed by the manufacturer of the trading terminal specifically for writing expert advisors. It allows the trader to program the trading system without any difficulty, which will trade in online mode day and night. Programmers familiar with this language will not have any difficulty in doing the job. For ordinary users this will be a more difficult task.

Forex Expert Advisors Indicators

You can create you own technical indicators for more effective work of advisors. They will be the great addition to the existing indicators in the terminal MetaTrader4. The purpose of using advisors indicators is to implement analytic functions and generate trading signals.

Built-in And Own Forex Expert Advisors

The MetaTrader4 trading terminal has several built-in expert advisors. They have the function of an independent trading system and dub the trading signals. They are very popular among beginners and were created specifically to demonstrate the abilities of programming the MetaTrader 4 Client Terminal.

The possibilities of creating your own advisor are simply dazzling. You can set various orders by price and time, automatically open the counter orders, etc. So these programs are able to replace the trader at his workplace.

Testing Forex Expert Advisors

The trading terminal can not only write advisors, but also check them on historical data before using, which is another unique feature of using the advisors. Testing is very useful, since it helps to measure the ability and effectiveness of a mechanical trading system on historical data, estimating the chances of future earnings and errors. Testing allows you to start trading without your intervention, if you know the expert behavior in different market conditions. For this purpose, the terminal has a special window where you can also optimize the input parameters of advisors.

Parting Words For Beginners

Beginners may find the capabilities of advisors to be very difficult, but after a month of currency trading a trader can begin to program his own automated trading system that will positively affect the outcome of the trader's work. Even if you resist trusting your money to a computer program, you can configure the advisor to five sound alerts, which will greatly facilitate your work so that you spend less time on graphical analysis and expecting a signal to open and close positions.

You can find lots of advisors on the Internet, but getting a profitable one is very difficult, and using every single one is exhausting and may result in depleting your deposit. That is why you are advised against buying the first advisor you come across. Many advisors demonstrate excellent results when tested on one currency pair, but perform poorly on others. It is better to use the advisor for those instruments that you have tested on.