Note

What Is an EA ? What Are the Advantages of Forex EAs?

Verified Official
· Views 185

What Is an EA ? What Are the Advantages of Forex EAs?

Photo: Wikifx

Forex EA is the shortened form of Expert Advisor and the abbreviation of the forex trading system. It is a programmatic trading system of the MT4 platforms (Metatrader4), in which the language is written in MQ4.

A forex EA is a complete trading program. By programming the trading ideas, the trader makes the computer to place an order and to execute the transaction according to a pre-set forex trading strategy. The program obtains real-time market prices through the banking system. It also automatically places orders and grasps the timing of closing positions without mental interference.

What are the advantages of Forex EAs over traditional human trading?

  1. Proven trading strategies for real trading.
  2. Remove the emotional factor from your trading. Your weaknesses of human nature will no longer play a role.
  3. Place automatic orders and automatically adapt to changes in price movements and trends.
  4. The computer will monitor the market conditions 24 hours a day, without manual operation.
  5. Strict risk management prevents excessive trading.

Reprinted from Wikifx, the copyright all reserved by the original author.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.