I need help on getting started with Expert Advisors
Posts: 53
Member since: 09/11/2012
Please i m new in forex so want to know what are expert advisors and how to use them? do they do trading for us? what si its advantage?
Posts: 685
Member since: 06/06/2011
Expert advisor (EA) is a program based on a strategy. Most of the EAs r available for MT4 platform. To use them, u need to put EA file into MT4 EA directory which u can easily find by googling. EAs do trading for u.
To use an EA u just need to enable EA on the chart where u want to use it. You can also find a lot of videos and articles on how to use EA.
Advantage can be accuracy, no effect of emotional factors and greed, 24/5 trading.
Disadvantages can be if EA is bad, it can blow ur account. It is hard to find a good EA.
Posts: 561
Member since: 21/04/2011
Originally posted by bbasiit123Please i m new in forex so want to know what are expert advisors and how to use them? do they do trading for us? what si its advantage?
Looks like u r a newbie. But ur posts on other threads dun support this statement. It seems u have good theoratical knowledge of forex. Your question is well answered by jogi.
I want to advise one thing. NEVER buy an EA from any website.
Posts: 836
Member since: 16/05/2011
Originally posted by bbasiit123Please i m new in forex so want to know what are expert advisors and how to use them? do they do trading for us? what si its advantage?
Do u have any expert advisor? or r u planning on buying one? As u dont know much about EAs, I recommend u to take opinions of different users here about the EA u r planning to buy.
Posts: 939
Member since: 21/04/2011
Originally posted by bbasiit123Please i m new in forex so want to know what are expert advisors and how to use them? do they do trading for us? what si its advantage?
There r 2 types of expert advisors. automatic and semi automatic. Automatic EAs will do trading 24/5 for u once u set it up.
Semi automatic EAs need some manual work.
Stick to your rules