What is an EA Forex (Expert Advisor)?
Introducing free trading programs
EA Forex comes from the Expert Adviser or specialist intelligence. Listen here and believe that many people might be confused as to what exactly. But if translated simply, it is a program or system that helps us trade Forex on our behalf. In other words, we don’t have to go to trade by ourselves all the time. but can be traded by simply leaving the program open
The EA system can make money 24 hours a day, 7 days a week. where we don’t have to do anything don’t watch the screen no need to open a contract So it can be said that EA is like a smart assistant. That can produce amazing financial results with Forex tools.
What is an EA Forex (Expert Advisor)?
An Expert Advisor or EA is a program written to help traders automate their trading on the Forex market without having to be in front of the screen all the time waiting to open and close orders. It is a system that works similar to bots (BOT) or robots that can trade on our behalf appropriately. It helps traders not miss out on great opportunities to trade and make profits efficiently.
Importance of EA Forex (Expert Advisor) Program
- The system will turn on-off. purchase order Sell automatically without being in front of the screen.
- The EA will only trade according to the set system. Thus reducing the worries of traders or trading according to their feelings.
- EAs are written to work with all currencies or specific pairs. It can also be set to trade according to market conditions, such as sideway periods or when different situations occur.
- can buy-sell Continuous income 24 hours a day.
The EA system can be installed in both MT4 (MetaTrader 4) and MT5 (MetaTrader 5) Forex trading applications. Users are encouraged to study and test the EA to understand how it works. Advantages and Disadvantages Although the EA is a good help in trading. But it should not be overlooked to study trading knowledge and learn new techniques always. To help define EA orders better according to market conditions.
EA has both free and paid versions. It is available as a general download on the website that provides it. or in the EA Market that is traded. However, trading with EAs is risky. Because nothing is 100% certain, the past is statistics, the Forex chart is the future (investing is risky, investors should study the information carefully before investing).
How to install EA Forex system and use it?
Since the Forex market is open to traders 24 hours a day, investors may miss a good time to trade. For this reason, EA Forex comes in as a helper in trading and opening-closing orders at the same time. The trader is not on the screen. The program will only trade according to the conditions set by the user. in order to trade at the right time
How to install Forex EA on MT4 (MetaTrader 4)
- Download the EA file to install the EA from the website which is both free and paid. or hired to write a special ready-made program as required
- First, extract the file and copy the data.
- Open MT4 (MetaTrader 4), go to MENU, select the File command.
- Select the command Open Data Folder > MQL4 > Experts, then paste the copied file into this window.
- Once the File is pasted, then go to Menu Navigator.
- Scroll down to Expert Advisors, right click and press Refresh. The name of the installed EA will be displayed.
- After the installation is complete, enable it by dragging and dropping it to the graph.
- The EA can be activated or stopped using the Expert Advisors menu.
Once the EA is installed, it should be tested before use it.
Does EA Forex really make it profitable?
The comfortable working style of an EA (Expert Advisor) might make it a novice Forex trader to question whether an EA can help traders make profits. Although this program allows automated trading when the trader is not in front of the screen to achieve the desired profit.
But since the Forex market is a very unstable market and has quite high volatility according to various situations, traders should always analyze the market situation, no matter how accurate the EA is in analyzing the market. I can’t make decisions that are equivalent to the decisions of people. Therefore, using EA Forex in trading also has the potential to lose.
EA Moving Average
If you are using an EA system that makes orders based on price crossovers Or moving averages as a condition is a good principle. and very profitable When the market is trending, this EA should be used during trending markets. Even if it can be profitable because of using the Trend type indicator (trend)
It is an EA that finds the reversal point of the chart in making orders. The nature of the graph is already swinging up and down. When you know the principle, you may do Back Test to see the past work. to see if it works as intended.
Choosing an EA Forex program to trade according to the market conditions or ask the designer to make it convenient and profitable as the trader wants without clearing the portfolio. In choosing the right one like this, traders often need to understand how the system works first.
How to choose an EA Forex system?
There are many ways to trade Forex today. whether trading by yourself Or trading with EA Forex (Expert Advisor) or Autobots Including trading that requires the EA system as a help, investors must choose a system that is suitable for their trading method. Because there are many types of trading systems. How to choose an EA that is effective and profitable, there are the following guidelines.
- Read articles or profitable reviews about that EA.
It’s a good idea to learn how to use it by reading review articles that mention the particular EA, such as its overall portfolio. Both reliable profitability works working style Suitable for any trading This will be an aid in decision making.
- Check Back Test to be sure
The EA Forex program with a history display system or back testing allows users to check their credibility more. The more retroactive, the more to check. But a good back test does not mean making a profit in the real market.
- Ask the EA team or developers for questions.
After a thorough study of the EA’s functionality, the problem was found. Should inquire with the team of the system owner or system developer. To increase understanding of how to use and use it more efficiently
- Test the system for 1 month before starting real trading.
To test the EA system, it should be started at least 1 month before you actually start trading. This is because the data from the Back Test alone may not be sufficient for trading. to try and see what the outcome will be
- Do A/B Test to help find the best EA system.
The way to do A/B Test is to test and check which EA is the most profitable. By bringing the two selected systems to run at the same time and compare. This way you can see which EA is right for you.
EA X Booster Pro Free Forex Trading Program!
EA X Booster Pro is a Follow Trend trading EA with clear entry and exit points with support. Auto-resistance is a command and direction trend run by itself. The trader determines the order size, the number of orders, the profit-closing target and selects a pair for the system to automatically issue and close orders. by opening a free trial free of charge.
Although there are many advantages of Forex trading with an EA program. Because in addition to the program acting as trading according to the desired settings 24 hours a day, it is also a trading aid suitable for new traders who do not have much knowledge.
However, the EA system also has its drawbacks as the EA works over the Internet. If there is a signal interruption problem, it can affect trading. In addition, if investors do not study the system thoroughly, Forex trading with an EA or an Expert Advisor can result in losses rather than profits as expected.
Trading guide: Tradingview