What is EA

Expert Advisor is a trading system that automatically opens and closes stock trades based on set rules. Forex is a market that operates 24/5. It is impossible for people to be active around the clock, however, the adviser can trade without stopping. 

Types of Advisors:

Scalpers 

The advisors working within the day, mainly on low timeframes. Their task is to analyze the micro fluctuations of the Forex market and enter short-term positions with a low target profit. In such Expert Advisors the profitability consists of a large number of concluded transactions, so short-term drawdowns are the norm.

Trend advisors 

Advisors that work exclusively in the trending market. Their task is to determine the direction and strength of the trend, but there are models with more complex algorithms that are able to profit not only from the trend movement, but also on rollbacks.

Multicurrency 

Multicurrency Expert Advisors are initially designed to work with different assets and show the same result regardless of the established currency pair. 

Martingale Advisors 

Martingale is a system according to which, after each loss, we need to double the lot or bet in order to not only make a profit, but also to cover losses in case the forecast is triggered. Martingale advisors are more risky, but when used correctly, they bring the maximum profit.

Combined 

Combined Expert Advisors have several strategies so they can be used under different conditions. 

Advantages of trading with Expert Advisors:

- Automation. Using the Expert Advisor, you no longer need to spend long hours in front of a computer monitor. 

- Reduction of emotional stress. Emotions are the main enemy of the trader. They are the ones who force you to open obviously unprofitable deals. The Expert Advisor completely relieves emotional stress and simply analyzes the market. 

- The amount of data. You don't need to keep in mind the hundreds of factors which are necessary to open a deal. 

The reaction speed of the adviser is much higher than human, which helps him to detect a favorable situation in time, make an analysis, make calculations and quickly enter the market.

There are no comments yet ...