Many traders are wary of using expert advisors in trading. Some simply don’t believe in the possibility of earning without direct human intervention in trading. Thousands of “compelling” offers on the Internet that offer to simply download an advisor for mt4 and get instantly rich also don’t inspire confidence.

In fact, the situation is somewhat different, and a trader has to work hard to start earning with the help of expert advisors. Numerous offers of free advisors just discredit the very idea of using trading robots in trading.

However, for a successful automated trading you don’t have to necessarily understand the intricacies of programming. It is enough to wisely choose a trading robot, diversify risks and not to violate trading rules.

Existing expert advisors can be classified by a number of features:

1. By the time interval (scalping, piping, and trading on medium timeframes, normally h1-h4).
2. By the strategy the algorithm is based on – news, indicator advisors etc.
3. By using Martingale principle in trading.

The probability of successful trading can be improved by taking into account a number of recommendations.

Advisor for mt4: what is worth paying attention to

The most important thing to remember is that nobody will upload a really working advisor for mt4 online. Therefore, most of the proposals with free advisors are either cheating or trading robots that ceased to trade profitably.

When choosing a specific advisor, you shouldn’t chase after profit – it is better to prefer stable trading. Pipsing and scalping advisors are also not recommended for use (trading is conducted on the timeframes m1 – m15). They are more susceptible to price noise (random fluctuations in the price) and are characterized by low stability. In addition, some DC disapprove scalping and can block the account of the client.

The best choice for trading is expert advisors with open source based on the indicators reading, chart patterns and Fibonacci ratios. As a rule, the longer the time interval, the greater survival rate of the adviser. For automated trading, timeframe h1 - h4 can be considered optimal. At time intervals above h4 trading with advisors is not recommended, because in this case the deals will be very rare.

Many advisors use Martingale principle, but such trading robots can only be recommended to lovers of thrills. Not any deposit will be able to withstand possible drawdowns, and there will always be a threat to siphon the deposit.

How to use the advisor for mt4

Before you use it for real trading, it would be a good idea to test the trading robot and maybe even optimize it. Analyzing the results of the test, you should pay attention to such parameters as expected payoff, profit margins during the test, the relative and absolute drawdown.

Adviser for mt4 can be assessed by the balance chart: the curve should be smooth, without any sharp dips and peaks. To assess the stability of the EA, you can test it over a long period of time (a year or more). Only after this can you use it for trading on a real account.

Sooner or later there comes a moment when the expert advisor is exhausted and brings you no profit. In this case, you can try to optimize its parameters. You are recommended not to optimize more than 2-3 parameters simultaneously for any trading robot.

Parameters are recommended to be changed from simple to complex. That is, first start to change the sizes of SL, TP, settings of a trailing stop (if any). And only if this brings no results, you can turn to  modifying the trading algorithm itself. After selecting profitable settings you should run a forward backtesting (the interval which was not involved in the optimization).