Forex Expert Advisors
Here you can buy trial and full version of MT4 expert advisors which can be used with the MT4 Forex trading platform to enhance your currency trading results combining it with the auto trading or expert advising. Only best strategies embedded into expert advisors are presented here. You can test and change them freely before using on your Forex account. Our own testing results are also included for your information. All expert advisors were selected to bring at least 57% yearly profit with a maximum drawdown not higher than half of the yearly profit.
What is a forex EA?
Contrary to what you might expect, a forex EA (expert advisor) is not a who advises you on how to trade. In fact a forex expert advisor is a sophisticated trading program gizmo. The forex Professional EA is a piece of program written specifically for the MetaTrader Platform. A Professional Expert Advisor can advise traders which trades to make or can be programmed to automatically execute the trades on a live account. Forex Expert Advisors are written in a proprietary programming language called MQL4 or Metaquotes language, version four.
MetaTrader 4 is a trading platform that is free & convenient for trading on the Foreign exchange market. The MT4 is also of the most popular trading platforms available. The MetaTrader Indicators, MetaTrader Foreign exchange Specialist Advisors, MetaTrader scripts are built-in & based on technical analysis.
When trading foreign exchange, emotions play a giant role. Take the example of a trader executing a trade in the hopes to make a profit off it, but in fact ends up losing the trade. The consequent trades placed are majorly controlled by the emotional decisions made, which are built on the result of the earlier trade. The advantage of trading with a foreign exchange Professional Advisor removes these emotions so that trading can be executed on a purely logical basis. Meta trader foreign exchange professional advisor performs the functions related to funds management, cutting losses, beginning of new trade, closure of beneficial positions.
Emotions & psychology play a critical role in foreign exchange trading so often, that a trader might hold on to a position in a hard work to grab that last pip of profit even when logic states to exit the trade. Conversely, a trader might exit his position prematurely out of fear, losing out on potential profits. The Forex EA has a plan & sticks to it without any regard to outside influences, & does this round the clock in the coursework of market hours. Having said that, a Forex EA is like a tool/software, but you cannot rely on. Meaning that you cannot switch to a Forex EA & expect to make profits from your positions on a regular basis.
There are plenty of different types of forex professional expert advisors built to accomplish a specific purpose. Example, type of forex EA are built to help you accomplish profitable trades in the EUR/USD money pair. Each type of forex expert advisors is built upon a specific set of rules, sits on your trading platform and executes your trades. Some Expert Advisors are currency and/or timeframe, specific while others are not. There are some foreign exchange Professional Advisors that predict trends while other EA's execute trades based on the trends. Some foreign exchange Professional Advisors are low risk (1-3%) while others recommend 2-4%, but most are adjustable. Some EA's close out trades only when a net profit is achieved, holding tight through a drawdown, whereas others will utilize a cause loss. The list goes on.
The use of Metatrader forex specialist EA excludes the human factor helps traders to check their Foreign exchange trading strategy based on historical data.Testing foreign exchange trade strategies helps traders to establish back-tests of Foreign exchange specialists besides optimizing the Foreign exchange Professional Advisors parameters by the built-in optimizer.The use of foreign exchange professional advisors gives traders the chance to check their own strategy on historical data; this means traders perform their own back-tests. Before making use of a professional advisor in your live accounts, always check the EA's on a demo-account also known as a forward-test. The use of professional advisors will permit traders to see potential obstacles to your Foreign exchange trading strategy.