Imagine a trading situation where you don’t have to touch or look at the market at all and still turn a profit, doing this all while you sleep all day. Probably too good to be true right? Well, most likely it is; however, when you know what you’re doing you can always find a way to profit. With many brokers using Metatrader 4 (MT4) as their platform of choice for traders, it opens a way to use Expert Advisors (EAs) for executing trades.
What’s an Expert Advisor (EA) you ask? Think of it this way, it’s a robot that executes your trades on your behalf based on rules that you have programmed it to follow. So, whether you are awake or asleep, if you have an EA running, it’s just a forex robot that keeps trading automatically. This makes trading a whole hell of a lot less stressful than it is looking for a setup everyday and staring at the charts doesn’t it?
You must be wondering; how can you get in on EA Forex trading? Well, the first way is to program and code it yourself. There are tons of guides out there on how to automate your forex trading. Furthermore, there is also a large market for EAs for you to purchase. Some free, some cheap, and some expensive beyond all logical reason. So regardless of whether you are a scalper or a swing trader, you may find yourself an EA that works for you or you can create one for yourself.
Just be wary that when you decide to buy an EA, you may fall into a forex expert advisor scam. It’s scary, I know. But don’t you worry, when you know what you’re doing; when you know what you want from an Expert Advisor and how you would tweak it to suit your rules of trading engagements, then you will be able to find one that is suitable for you.
Furthermore, don’t worry because you will be able to back-test EAs based on historical data. That way you can be confident before you put your money on the line.