Whether you are a novice or a pro trader, several resources help you to figure out how to step up in the forex trading space. Without adequate knowledge and information about forex trading, traders are likely to make mistakes, especially beginners. That’s why there are paid and free forex expert advisors to help with trading dynamics.
If you want to make really good profits in the foreign exchange (or forex) trading game, then you have to have every pip you can get. Unfortunately, the learning curve is sometimes not very favorable. The need to find alternatives to hours of technical analysis and research on news and historical data. The only way to increase the odds is to find a way to make efficient trades without being hindered by technical analysis or research.
In the world of forex trading, an expert advisor (EA) is a piece of software that can suggest trading times or automatically start and execute trades based on programmed instructions. The forex expert advisor is an automated forex trading system that operates under the Metatrader 4 trading platform. The fixer here is that you need an account with a forex broker, which supports Metatrader 4. However, that is no longer a problem nowadays as Metatrader is already supported by many brokers. Forex today so all you have to do is look for the ones that match your expectations.
Expert Advisor Capabilities
1. Open position, buy/close.
2. Close position.
3. Modify according to the current trade.
4. Change the SL and TP according to the current trade.
5. Carry out an analysis of a pair based on internal markers.
6. Sending alerts, can be in the form of voice, e-mail, or API.
7. Carry out an analysis of the financial management of the account, either balance or margin.
8. Expertise integration to other applications, up to unlimited development.
Expert Advisor Advantages
a. Replace when busy
The forex market is open 24 hours and 7 days a week. Using expert advisors or similar trading tools known as forex robots can continue trading when you are absent, to get results or trading opportunities while you are working, sleeping, or doing other activities.
b. Eliminate emotional factors
Fear or greed will not play into the selection or rejection of trading signals. The EA will execute trades based on the existing instructions without considering the emotional factors of loss and profit.
c. Reduce stress levels and potential fatigue
If forex trading is your main source of income, using an EA can reduce stress levels and the potential for emotional and mental exhaustion, including the sacrifice of time.
d. Forex trading management options
However, it is better for investors to be aware that risk is unlikely to disappear. RoboForex can be considered as one of the options that can help manage your forex trading.
The emergence of RoboForex is also the answer for investors who want to invest practically or don’t have time to learn technical and fundamental analysis. RoboForex can also help investors to control their emotions when trading. This can be done because RoboForex is able to automatically execute transactions with a more measured analysis.
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There is also a training center for beginners. There you can watch the exact video on the operation of the trading platform. For further questions, you can join the RoboForex forum. Direct exchange with other traders and develop a common strategy. The broker also provides daily analysis and webinars.
It works around the clock (24/7) for RoboForex customers. Use a different contact option if you have any questions.
RoboForex earned an excellent reputation by adhering to the mission of service and customer satisfaction, and that is the principle that continues to operate to this day. Recommend, because there is no fraud insight. Trading fees are very low and you get fast and direct execution. Regulations, licenses, and sponsorships make brokers a trusted partner.
a trusted, regulated, and licensed forex expert advisor that has been providing its offerings and services since 2009. The company’s head office is based in Cyprus and serves more than 800,000 customers, located in more than 170 countries.
With 18 supported languages, RoboForex’s main focus is to provide an outstanding online trading experience through innovative technological solutions and several modern trading tools.
RoboForex’s offering and development are supported by more than 20 different awards, in addition to sponsorship deals with some of the best athletes and sports teams from around the world. RoboForex is the official sponsor of the Starikovich-Heskes team in Dakar 2017, as well as the official sponsor of Andrei Kulebin, who is a world-famous Muay Thai fighter.