Forex Trading requires specific knowledge and skills, and experience. What do you do the novice trader? Through trial and error to lose their money in the market? Of course, there is a less expensive way to start a profitable trade - is the use of automatic adviser.
Automated forex advisor or the English version of Expert Advisor is a computer program that is designed for automated trading in the foreign exchange market.
Each counselor has his trading strategy and its settings, created with its programming, based on which the robot and trades. Developers obviously check the profitability and stability of automatic adviser by testing it on historical or current data. For traders who link their risks and losses, the psychological factor of automatic forex advisor can be a lifeline in the foreign exchange market.
To turn automatic advisers and experienced traders. Usually traders having their profitable strategy want to make it automated to increase its profitability and reduce their risks. To do this, they turn to programmers who know the language MQL, the knowledge of which is necessary for the creation of advisers to the MetaTrader 4 platform.
To date, the automatic forex advisor can be of two kinds:
- An independent adviser - a robot that trades with no human intervention, he opens/closes the deal puts the levels of profit and loss analyzes the trade situation in the market and so on. Opening hours of the robot is not limited, it will trade as long as the terminal is turned on, by the way, is another plus automatic advisers.
- Mechanical adviser - a counselor may be called semi-automatic, as his duty is to inform the trader about possible deals. In other words, it will indicate when to open the order in which direction, stop loss and take profit levels, but the final decision is in position or not, provided is a trader. Pros mechanical advisor that a trader can he assess the situation on the market and, after weighing the risks and potential returns to take the decision to open the position.
Automated forex advisor has many advantages over manual trading. The main advantage, of course, is that the counselor immediately processes all the market information and therefore quick to respond to changing trends, quotes, allowing it faster than regular traders is in a position to get the best price. Another not insignificant factor is the lack of fatigue, stress, tension, indecision and other feelings and emotions that often hinder trade and hamper the correct assessment of the situation on the market. Advisor simply trades based on their trading algorithm losing trades also no it does not affect his job, then the trader can become depressed or attempt to recoup disproportionately increasing the volume of trade.
But even with all the advantages available to the trading advisor, do not think that the robot will bring you huge profits and will quickly make you a millionaire in the first place robot created to facilitate the work of the trader. Automated forex advisor also not insured against loss, I want to add that the recent news of the more common failures transactions robots traders than men.
So recently in the news can be read such zagalovok - Exchange "robot" has brought its owner a loss of 4.3 million dollars. Therefore, the trader should periodically monitor the work of the Expert Advisor, sometimes even requires resetting its parameters to the new market realities. If you decide to start using the robot, it certainly is better to stop the choice on whose trading system you understand. So it will be easier to understand its effectiveness and deal with the settings.Social button for Joomla