Manual forex trading poses many difficulties, such as making the most out of a certain trading condition to ensure profitable returns. But this is not something people can do initially when they have merely started their forex journey. Forex expert advisors, however, present an alternative approach that is automated forex trading, which is considered far easier than the manual one.
The reason why the forex market keeps expanding with millions of participants joining various forex platforms is due to these reliable EAs. People had no interest and knowledge about how beneficial automated forex trading could be before forex expert advisors came into existence. Traders depended entirely on manual trading that does not guarantee a smooth experience all the time.
As the EA acts on the commands already set by the user, there is no room for errors other than network issues and power cuts. As an inexperienced forex trader, there could be times when people end up losing a certain trade due to unexpected conditions. But if you use forex expert advisors, you would not need to change strategy or any other parameters during the execution stage. As a result, an EA can perform nicely and as expected without interference from the trader.
This way, forex expert advisors ensure that people have a better outcome after each trade and do not lose most of what they earn while trading. Above all, forex expert advisors have increased the chances of traders dealing with a large number and different types of instruments to see, trade, experience, learn and gain more than they would by sticking to just forex.
Moreover, this flexibility allows one to dip into other derivatives trading, which is rather risky but not impossible if you are equipped with a trustworthy and feature-rich forex expert advisor. We are your business partner helping you on your road to business success. Enter your Name Enter your Email Address. Disclosure We earn commissions if you shop through the links on this page.
After all this is exactly why people are trying to formulate their strategy to get some profit from the market. Please kindly correct me if I am wrong. I am after all just a beginner trying to see the market from a statistical point of view. If you have found a strategy that performs well in backtesting, and performs well in forward testing, then why not go with it.
I disagree with the idea that the market is random. It has some randomness but it also has some order. The market is like that. Hi Jason: Thanks for the comment. I totally agree that we should not spend our hard-earned money buying a black box designed by an unknown stranger on the web. By not knowing the strategy used inside these commercial EAs, we would not be able to stay calm when the market turns against us.
What I am trying very hard to do now is first of all to do manual backtesting on a certain strategy to gauge whether it worked well in the past. The next step is to translate this strategy into an EA and back testing for significant period of time followed by forward testing for six months to qualify this EA from statistical point of view.
After all, what is nicer than having an EA which you understand fully to do the work for you while you are spending quality time with your loved ones? I tweak my EA s weekly, analyzing every trade to see how they could have done better. Surprisingly, my EAs produce better profit with a hard take profit than a trailing take profit probably due to the market ranging more than trending. MT4 has great built in help for programmers. I believe brokers have most of the popular EAs running and when they see them opening positions, they mess with the people who are running them freezes, off quotes, change of data stream just enough to keep it from trading.
As a beginner, I am taking the time to learn how things work. Do you need to know alot of programming, or is there a just plug-n-play type program that you can just add settings etc. It would help you a lot if you have done at least some basic programming before.
The language used MQL is very similar to C language.
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Hi FX traders: I would like to seek your opinion on the two trading methods: Manual Trading vs EA. I have traded demo manually for almost 6 months now and. Forex robots (also known as Expert Advisor, or EA) are a piece of software that trades automatically based on a set of preset conditions. This type is also. Expert Advisor bundles are designed to fit the needs of every successful Forex trader. Get + Expert Advisors Robots + Monthly Updates.