Forex Trading Expert Advisors (EA or automated trading system) and Custom Indicators (CI) for MetaTrader Platform.

An EA also known as Expert Advisor is a MetaTrader 4 trading platform feature. It’s essentially a robot that was designed to automatically place trades for you, the trader. What more could you ask for? Either you’re sleeping or at work you can still trade so there shouldn’t be any problems with that right? It’s exactly what any trader needs. Wrong. An EA can be a very powerful asset to a trader if the trader knows how to make the best use of it. As a concept it’s easy to see how traders can get carried away with its idea but on the grand scale of things an EA can max out a trader’s account just as easily as it overflowed it.

Its design is based on moving average crossover technology, which is widely well known in trading systems. The way this system works is with slow moving and fast moving averages (market instruments), when a fast moving rises above a slow moving then the system is programmed to buy, if the moving averages fall into an opposite direction then its programmed to close the trade.

MT4 EA’s work with a very smart algorithm. The system itself will only perform trades fit for you, as well as the size of your account. Each trader should be more than aware of the risk involved in every single one of his trades. The system itself is programmed to do the same thinking, it understands the $1.000 account trader would never trade the same way as a $10.000 account one.

Additionally, your EA has the necessary discipline that both novice and experienced traders sometimes lack. During the setup of your EA you will fill out type of trades and conditions you are interested to invest in. This form of power allows you to stray away from unnecessary risky situations you would venture in that could lead into some devastating losses.

However, there is a downside to this clever software. One is that your EA cannot guarantee more success in the market that you cannot obtain yourself as a trader. No matter how expertly designed the software is, it cannot in any way control or foreshadow any market twist. Two is that when using Expert Advisors you must always be aware of ‘natural’ risk. EA’s run as long as your computer is turned on therefore if at any case your computer was to crash or there was an electricity failure or even an internet fault, the system would automatically stop working and no offline management is available.

In conclusion EA’s are a great addition to a trader’s trading platform, they provide the service of producing the work during the hours that you can’t. At the same time, the feature should be handled with caution and should not replace you as the mind behind the trades. You alone must always be in charge of your trading, you alone can enhance your funds and you alone will take yourself to success.

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EA is not something into my like book; I believe it’s far better if we focus on good manual plans. It’s something that could take us into long term journey, but if we stick to EA or such short cuts then we will just stay stuck and will not really progress much. Fortunately, I have understood all this and that has done wonders to me. I am grateful to my broker OctaFX, as it’s through them that I have been helped with their educational guidance while they also provide daily market updates, so all this is what helps me working out things myself easily and never have to go for EA or such useless short ways that rewards no one.

In my opinion, manual trading is better, because there is a robot that makes margin calls for all its members, namely SuntonFx.