The Ultimate Guide to Finding the Best Expert Advisor for MT4
Choosing the right Expert Advisor (EA) for MetaTrader 4 (MT4) is crucial for Forex traders looking to automate their trading and improve profits. However, with hundreds of EAs available, it can be challenging to determine which one is the best fit for your needs and trading style.
This comprehensive guide will walk you through everything you need to know about finding the top EAs for MT4 in 2023. We’ll cover how EAs work, types of EAs, key features to look for, top EAs to consider, choosing a broker, and tips for getting started with algorithmic trading.
What is an Expert Advisor for MT4?
An Expert Advisor (EA), also known as a Forex Robot, is an automated trading system that trades on the MT4 platform without manual intervention. EAs are software programs written in the MQL4 language and executed by the MT4 client terminal.
EAs analyze market conditions and place buy and sell orders according to a pre-defined trading strategy. They enable traders to automate their trading around the clock, even while they are away from their computers.
The main benefits of using EAs include:
- Removing emotions – EAs trade logically based on parameters, not emotions. This eliminates impulsive trading decisions.
- Backtesting – EAs allow you to backtest trading strategies on historical data to evaluate their viability.
- Flexibility – EAs can be programmed for any strategy from scalping to long-term trend following.
- Risk management – Stop losses, take profits, and other risk controls are easily programmed.
- Diversification – EAs make it easy to automate strategies across multiple currency pairs or assets.
- Efficiency – EAs are able to react to market changes faster than manual traders.
Types of Expert Advisors for MT4
There are a few common types of EAs, each best suited for certain trading objectives:
- Trend following EAs – Look to identify the overall market trend and trade in the direction of that trend. Less frequent trades but can profit from long trends.
- Counter-trend EAs – Trade against the prevailing trend by trying to pick market turning points. More trades but riskier in strong trends.
- Scalping EAs – Designed to capitalize on small price movements, making many quick trades daily. Requires fast execution and low spreads.
- News trading EAs – Specialize in trading around high volatility news events and economic data releases.
- Pattern recognition EAs – Identify chart patterns like head and shoulders to predict potential trend reversals.
- Arbitrage EAs – Seek to exploit price discrepancies between correlated instruments like currencies or futures.
- Custom EAs – Get a specialized EA built for your exact trading strategy by an experienced programmer.
Consider what markets you will trade, your risk appetite, and strategy goals when deciding which type of EA is best for your needs.
Key Features to Look for in an Expert Advisor
With many EAs to pick from, here are the most important features to evaluate:
- Backtested results – Review long-term backtests from the EA developer to assess performance across historical market conditions. Look for steady equity curves.
- Live track record – Examine real-time trading records to confirm the EA works well in live markets. Transparency from the developer is key.
- Risk/reward ratio – Look for EAs with consistent risk-reward ratios of at least 1:1. Higher reward for risk taken indicates an edge.
- Instrument diversity – EAs that trade multiple currency pairs or assets tend to perform more consistently than single pair EAs.
- Market condition handling – The EA should trade well in up, down, sideways, and volatile markets. Assess backtest results.
- Correlated pairs trading – For diversification, look for EAs that implement strategies across correlated instruments like EUR/USD and USD/CHF.
- Flexible settings – The ability to optimize inputs and fine-tune strategies is key to maximizing profitability.
- Money management options – Look for lot size calculation options based on account balance and risk preferences.
- Customizable conditions – Ability to set trading hours, use price filters, or restrict based on news events etc.
- Regular updates – The developer should continuously update the EA to ensure it adapts to changing market conditions.
- Stability – Assess backtest and trading logs to ensure the EA runs smoothly without constant losses or blow ups.
- No overoptimization – Optimized excessively for past market conditions only, reducing reliability in live trading.
Top EAs to Consider for MT4 in 2023
With an overview of what makes a great EA, let’s look at some of the top options currently available based on performance, features, and trader reviews:
- Aggressive scalping strategy optimized for accuracy and fast profits
- Trades 12 currency pairs on multiple timeframes
- Features anti-martingale technology and exit logic for risk control
- One of the few EAs with verified myfxbook live results
- Pattern recognition EA that identifies reversals for long term trades
- Trades on over 15 pairs with balanced risk across portfolio
- Has backtest history from 2003 with stable growth curve
- Locks in profit near TP levels with partial close modification
- Next gen EA driven by machine learning technology
- Identifies precise entry and exit levels based on market context
- Automated strategy generator continually develops new strategies
- Advanced money management adjusts position sizes dynamically
- Breakout trend following system optimized for EURUSD
- Implements grid trading in a smart, non-martingale manner
- Comes with basic edition, as well as aggressive and conservative editions
- Records trading data like a blackbox for performance analysis
- Long running EA from 2007 with time tested strategies
- Trades EURUSD, GBPUSD, and USDCHF conservatively
- Multiple layers of risk management for capital preservation
- Broker-independent performance with fixed spread simulations
This covers some of the top rated EAs suitable for beginner to advanced traders. Be sure to dig into details like instruments traded, performance metrics, and user feedback when evaluating EAs.
For a much wider selection of EAs, indicators, and other trading tools, browse the full catalog at Best MT4 EA which covers hundreds of options.
Choosing the Right Forex Broker for EA Trading
The right broker can mean the difference between seamless automated trading and headaches with a poor execution EA partner. Here are key factors to consider:
- Regulation – Opt for regulated brokers like FCA, CySEC for security of funds.
- EA compatibility – Some brokers prohibit EAs, be sure yours allows them.
- Execution speed – Look for low latency on trading servers for best slippage/spread capture.
- Spread model – ECN/STP brokers tend to have lower, more transparent spreads crucial for EAs.
- Server uptime – Check for minimal downtime on trading servers to avoid connection disruptions.
- Customer support – Support knowledgeable in EAs in case troubleshooting is needed.
- Minimum deposit – Look for brokers with low minimum deposits if starting with a small account.
Some of the most trusted brokers with optimized conditions for EA trading include:
- RoboForex – Trusted broker since 2009 with fast execution and ECN account options.
- AvaTrade – Well regulated broker with deep liquidity for slippage reduction.
- Exness – Renowned for quality executions and transparency. Tight spreads.
- XM – Award winning broker great for EAs with ultra fast execution.
- IC Markets – ECN spreads from 0 pips on cTrader. Known for EA friendliness.
Getting Started with Expert Advisors on MT4
Once you’ve chosen a suitable EA and broker, follow these steps to begin automated trading:
- Demo test – Thoroughly backtest the EA and optimize parameters. Forward test on a demo account.
- Use minimal lots – Run EA on live account with very small position sizes to start.
- Learn the software – Study the inputs and settings. Know how to turn off EA when needed.
- Monitor performance – Track trading stats and equity curve. Tweak settings periodically if needed.
- Manage risk – Enable stop losses on all trades. Limit total position size. Use trailing stops.
- Stay updated – Keep EA version current. Monitor broker connection. Use a reliable VPS service.
- Review regularly – Analyze periodic trading reports. Assess if EA still aligns with goals.
With some guidance, you can successfully integrate EAs into your trading plan. They are powerful tools when used correctly.
Frequently Asked Questions
Q: Are free EAs worth using?
A: Generally free EAs are not recommended. They often lack ongoing support, optimization, and reliability testing. It’s better to use a paid professional EA with verified performance.
Q: Can you run multiple EAs on one MT4 account?
A: Yes, you can run multiple EAs at the same time on one account as long as they don’t overlap trading instruments. This provides diversification.
Q: How much starting capital do you need for EA trading?
A: Many EAs work with just $500 to start but at least $1,000 – $5,000 is recommended to properly account for drawdowns. More capital means better position sizing.
Q: Is backtesting alone enough to evaluate an EA?
A: Backtest results are important but real-time forward testing on a demo and seeing live account trading stats are also key to confirming viability.
Q: Are EAs better than manual trading?
A: EAs eliminate emotional decisions and can capitalize on opportunities faster than humans. But prudent manual traders can still outperform EAs in some market conditions.
Q: What mistakes should be avoided when using EAs?
A: Not demo testing sufficiently, poor risk management, overoptimizing rather than optimizing, leaving it completely unattended, and using unreliable brokers.
Choose the Best MT4 Expert Advisor for Your Trading Style
Finding a well programmed EA that complements your trading approach is essential to succeed with automated trading. Avoid overly marketed EAs with no verified track record.
Carefully assess performance in various market conditions, look for prudent risk management, and choose a developer committed to ongoing updates and support.
With the right Expert Advisor, you can potentially grow your account steadily, remove emotions from trading, and save significant time versus manual trading. Implement your EA properly, monitor it regularly, and let algorithms do the heavy lifting for your Forex portfolio.
The Top 10 Best Expert Advisors for MetaTrader 4
Trading the financial markets can be challenging for even the most seasoned trader. Expert Advisors (EAs) are trading algorithms that allow you to automate your trading strategies on the popular MetaTrader 4 (MT4) trading platform. EAs allow you to execute trades automatically based on predetermined trading logic and conditions, removing emotion from trading and saving you time.
In this comprehensive guide, we will explore the 10 best Expert Advisors for MT4 in 2023 based on performance, features, ease of use, and customer satisfaction. We will provide an overview and honest review of each top EA along with pros, cons, and tips for getting the most out of each one.
How Do Expert Advisors for MT4 Work?
Expert Advisors are written in the MQL4 programming language and integrated into the MT4 platform. They analyze the market using technical indicators and place buy and sell orders automatically based on trading logic coded into the algorithm.
EAs allow you to backtest strategies to validate their viability. You can optimize the inputs and settings of your EA to improve performance. They remove emotion from trading and enable you to execute your trading plan consistently around the clock.
Once programmed, the EA can scan the markets continuously for trading opportunities based on your customized specifications. EAs are an extremely powerful tool for traders of all skill levels.
Factors for Selecting the Best MT4 Expert Advisors
With hundreds of EAs to choose from, here are the key factors we evaluated when picking the top EAs:
- Proven Track Record – Verified backtested and live trading results demonstrating consistent profitability. Avoid overhyped marketing claims.
- Customization – Flexibility to optimize inputs and settings for your strategy and risk tolerance. Ability to program trading logic rules.
- Active Development & Support – Regular updates and improvements. Responsive technical support.
- Cost – Balance of performance and value. Reasonable one-time or recurring subscription fees.
- Ease of Use – Intuitive interface and setup. Comprehensive documentation and guides. MT4 integration.
- Features – Trading logic, risk management tools, automation, and other useful features.
Keeping these factors in mind, below are the 10 best EAs for MetaTrader 4 based on overall user experience.
1. Millionaire Gold Miner Pro FX Scalper EA
Price: $879.99 (One-time fee)
The Millionaire Gold Miner Pro FX Scalper EA is one of the most popular EAs on the market and a top choice for novice and experienced traders alike.
It is based on a scalping strategy focused on small, rapid trades targeting 20-30 pips profit on average. Trades are opened and closed within minutes to capitalize on short-term price fluctuations.
- Simple “set and forget” scalping strategy requiring minimal input after quick initial setup.
- Aggressive scalping technique allows profiting from micro market movements.
- Advanced trading logic to detect reversal chart patterns for reliable entries.
- Impressive win percentage above 85% during live trading.
- More suited for accounts with lower leverage due to potential margin call risks.
- Not ideal for volatile or ranging market conditions.
Overall, this EA is easy to use out of the box and delivers consistent results for scalpers seeking regular small profits from short-term trades.
2. FXCore100 EA [UPDATED]
Price: $7.99 (Monthly subscription)
The FXCore100 EA utilizes complex logarithmic trading algorithms for precise entry and exit timing. It is frequently updated with the latest artificial intelligence capabilities.
- Cutting-edge predictive analytics and machine learning for optimal timing.
- Low drawdown and regular profit targets of 20-50 pips per trade.
- Actively maintained and supported by qualified team of coders.
- Ideal for EURUSD and GBPUSD pairs with 5-minute timeframe.
- More inputs and optimization required than simpler EAs.
- Only compatible with reputable FX brokerages.
For experienced traders seeking an AI-powered EA, FXCore100 is a top choice but requires more involvement to maximize performance.
3. Millionaire ClevrAI Scalper Forex EA
Price: $789.99 (One-time license fee)
True to its name, the Millionaire ClevrAI Scalper leverages artificial intelligence for pinpoint precision entries on small scalp trades.
- Cutting-edge AI modeling for predictive analytics.
- Aggressive scalping technique compounds profits on micro movements.
- Excellent default settings require minimal optimization.
- Impressive average monthly gains above 20%.
- More drawdown than conservative EAs.
- Spiky equity curve requires confidence and risk management.
This EA is ideal for aggressive short-term scalpers seeking automation powered by artificial intelligence capabilities. Significant profits possible but requires a proper account funding and leverage strategy.
4. Golden Deer Holy Grail Indicator
Price: $689.99 (One-time license fee)
The Golden Deer Holy Grail Indicator is an elite indicator utilizing over 35 carefully crafted algorithms to predict trend reversals with laser precision. Signals display directly on your MT4 chart.
- Proven accuracy across all major currency pairs and timeframes.
- Easy visual signals with clear entry, exit and stop loss levels.
- Ideal for scalping, day trading, and swing trading strategies.
- Consistently delivers 2:1 to 3:1 risk/reward ratio.
- Indicator only, requires manual order execution.
- Signals prone to repainting on lower timeframes.
For traders seeking a high probability indicator for any style of trading, Golden Deer hits the mark with precision signals and notable transparency.
5. Golden Eagle Eye Black Edition Non Repaint Indicator
Price: $9.99 (Monthly subscription fee)
The Golden Eagle Eye Black Edition uses proprietary algorithms to predict short-term market momentum with a high degree of accuracy. Signals display directly on charts with no repainting.
- Clear buy and sell signals with take profit and stop loss levels.
- Especially effective for 1 to 15 minute timeframes.
- Frequently updated by the developer to maintain accuracy.
- Ideal for scalping or lower timeframe strategies.
- Indicator only, requires you to manually place orders.
- Overbought/oversold readings prone to false signals.
This unique momentum indicator excels on lower timeframes and provides reliable setups for active short-term traders. The subscription model ensures continuous improvements.
6. Millionaire Gold Elephant Pro Max EA
Price: $579.99 (One-time license fee)
As the premium edition EA of the popular Gold Elephant series, the Millionaire Gold Elephant Pro Max is equipped with advanced features for maximum performance.
- Proprietary multi-indicator system with reinforced risk management.
- Impressive average monthly gains despite drawdown control.
- Fully automated with key strategy metrics displayed in dashboard.
- Backtest results verified on multiple broker feeds.
- Inputs are numerous and can be overwhelming initially.
- Conservative parameters sacrifice some profit for drawdown control.
For seasoned traders seeking an institutional-grade EA, Gold Elephant Pro hits the mark with advanced features, prudent risk management, and sophisticated trading logic.
7. Golden Eagle Non Repaint Indicator
Price: $4.99 (One-time license fee)
As the “little brother” of item #5, the Golden Eagle Non Repaint Indicator uses similar momentum algorithms in a simplified package. Signals display on your charts with no repainting.
- Affordable one-time purchase cost.
- Clear arrows, pop-ups and audio alerts.
- High win rate for scalping and day trading.
- Developer provides prompt customer support.
- Designed for M1 and M5 timeframes primarily.
- Manual trade execution required.
This straightforward momentum indicator performs well on lower timeframes. The affordable price point and responsiveness of the developer make it a top choice for beginning traders.
8. Tiger X Pro EA
Price: $489.99 (One-time license fee)
The Tiger X Pro EA manages trades aggressively with tight stops to capitalize on short-term price action. It is optimized for the popular EURUSD currency pair.
- Specializes in volatile market conditions and sudden price spikes.
- Uses multiple indicators and complex logic to confirm entries.
- Easy to install and configure with default settings.
- Lucrative profit potential from momentum trades.
- High degree of risk from tight stops and fast exits.
- Only optimized for EURUSD on 5-minute timeframe.
For trading EURUSD with an aggressive style during volatile markets, Tiger X Pro is a top performing solution. Be prepared to take quick losses along with rapid gains.
9. Forex VPS
Price: $29.99/month (Recurs monthly)
A Forex VPS (Virtual Private Server) enables you to run EAs and trade 24 hours a day without your computer. Trading uptime and execution speed are critical for EAs.
- Ultra-fast market execution and EA response times.
- Maintains trading continuity during computer downtime.
- Enhanced backtesting speed and reliability.
- High-grade security protocols and dedicated resources.
- Recurring monthly cost.
- Requires basic technical setup.
For serious traders who automate strategies or use EAs, a Forex VPS is strongly recommended for the performance boost and convenience provided.
10. Billionaire Forex EA Collection
Price: $1499.99 (One-time license fee)
The Billionaire Forex EA Collection combines 10 top-performing EAs into one bundle for maximum diversification. It’s an all-in-one package for Forex automation.
- Combines multiple EAs to balance and compound profits.
- Covers a variety of trading styles and currency pairs.
- Special VIP customer support access.
- Low one-time cost for full suite of algorithms.
- High upfront cost may deter casual traders.
- Installation and optimization requires time investment.
For traders seeking an entire arsenal of EAs covering diverse trading strategies in one package, the Billionaire Collection is tremendously comprehensive while providing value in bulk.
Special Mention: Lion King Pro MT4 Indicator
At only $49.99, the Lion King Pro is an honorable mention for those seeking an affordable yet effective indicator. Signals display visually on charts with no repainting. It excels at reversals on the 5 minute timeframe across currency pairs. For traders on a tight budget, Lion King Pro punches far above its miniscule price point.
Automating your trading strategies with EAs can provide a substantial advantage. The top EAs for MT4 detailed in this guide are proven to deliver consistent profits with minimal input from the user after the initial configuration.
Whether you are a novice seeking simplicity or an experienced trader leveraging sophisticated algorithms, the best MetaTrader 4 Expert Advisors raise the bar for trading performance and convenience. Give your portfolio an edge with automation today!
Frequently Asked Questions
What are the main benefits of using an Expert Advisor for MT4?
Expert Advisors provide traders several advantages including automated strategy execution 24/7, backtesting capabilities, and removal of emotion from trading. EAs trade based on logic, not feelings.
Can I use EAs on a demo account?
Absolutely. Running EAs in demo mode is recommended to optimize settings before going live. Ensure your live account conditions match your demo as closely as possible.
Do I need to keep my computer running to use EAs?
EAs only execute trades when your MetaTrader platform is open and connected online. Using a Forex VPS enables full autonomy without your local computer.
Are EAs worth the cost?
Considering the profit potential and advantages gained from automation, the top EAs provide tremendous value. Even moderate performance gains usually outweigh any upfront or monthly costs.
Can Expert Advisors really make me money consistently?
EAs enable consistent trading of a defined, profitable strategy. However, the strategy coded into the algorithm ultimately determines its viability. There are no “magic bullets” for guaranteed profits. Proper usage combined with robust algorithms can produce steady gains over the long run.
Best MT4 EA
Forex markets operate all day, seven days a week. The markets are constantly changing, with millions of variables affecting trading opportunities. Sometimes, it can get tricky and stressful for humans to handle the trades themselves. In such a case, many people opt for a Forex EA.
A Forex Expert Advisor (EA) assists you in the trading process, sometimes by conducting the trades when you are occupied or asleep. A forex EA eliminates the emotional factor. This means that emotions such as greed or fear do not come in the way of making good, intelligent decisions. A forex EA also takes away the stress that forex trading brings and can consider all variables at once, something humans cannot do.
A forex EA trades and makes decisions faster than humans, allowing you to immediately take advantage of trading opportunities. With forex expert advisors, you can make better-informed trading decisions, increasing your chances of making profits. However, it is also essential to choose the right Forex EA, one that guarantees safety and profitability.
What Is an Expert Advisor?
An expert advisor is a specially designed software that can carry out trading functions. This software notifies forex traders of opportunities and advises them on the trades they should make. An expert advisor can also manage trades in the place of the forex trader.
Programmed using Meta Quotes Language (MQL), an expert advisor works on the Meta Trader platform. The Meta Trader platform is an online platform for forex traders. The expert advisor comprises a mathematical model that uses trade signals to determine the best entry points into trades.
Some forex EAs gather data on forex markets and then send trading signals to the trader. Others analyze this data and use it to decide the best time to enter a market. What your expert advisor does depends on the way you have programmed it.
You can even program your EA using specific instructions. The expert advisor will then make trades according to those instructions while you are occupied.
How Can I Use Forex EA?
After installing an EA, you need to set its parameters according to the trading strategies you want it to use and the functions you want it to have. Using the parameters, the Forex EA analyzes different trading opportunities and decides whether or not to invest in them.
The Forex EA does this through a set of questions incorporated into its mathematical model. Using these questions, it makes a decision about the trade.
You can either build your own EA or download one built by someone else. Using the signals of the EA, you can make decisions or choose to act quickly.
When using an EA, you should always try the demo version first. This way, you can check whether the software is suitable for your forex trading. You should also do your research beforehand and set up adequate parameters.
How Do Forex Expert Advisors Work?
Forex expert advisors make the trading process automatic, helping you make a profit through trades. They use technical indicators and trade parameters to identify profitable trading opportunities. They use the data they have gathered to pinpoint the lowest cost to enter the market and the highest cost to sell.
After you attach an EA to a chart on your MT4 platform, the forex expert advisor will analyze market conditions and use them to advise you on trades to make. It uses different factors and situations to draw conclusions about the direction a market will go.
When making trade decisions, an EA follows a set of rules or conditions. With these conditions in place, the EA manages trades on behalf of traders by entering and exiting markets as needed.
The functions of an EA range from advisory functions to making decisions for you. What a certain EA does depends on the type of expert advisor it is and how you have programmed it.
Free foreign expert advisors are an appealing option for forex traders. This is because they free them from the stress and the time spent making trades. A forex EA allows them to sit back and let a forex robot do the work. Despite that, a forex EA does not come without disadvantages. You will require a constant internet connection for a foreign expert advisor to work properly. Additionally, many forex EAs can turn out to be scams, doing more harm than good.
- A Forex EA Takes Emotions Out Of Forex Trading: At times, fear of a loss can stop you from making a decision that has good prospects. A forex EA will not take this fear into account and will just make a trade according to your instructions. A forex EA will also be free of biases and greed. This will prevent delays from happening and will enable smarter decision-making.
- A Forex EA Is Faster: A forex EA can do the needful to find trades with good prospects in seconds. This includes surveying markets, analyzing factors, and deriving the probability of a profitable trade. This speed allows the EA to grab as many trading opportunities as possible and work more efficiently than others.
- A Forex EA Can Trade 24/7: A forex EA can stay active on the market and be on the lookout for opportunities all day. On the other hand, humans need to sleep, work, and go about their daily lives. Humans often need to take breaks, which can lead them to miss an opportunity. This will never happen with forex EAs.
- A Forex EA Makes Back testing Easier: A forex EA speeds up the process of testing various strategies while making decisions. An expert advisor can do this in seconds, while if a human does it, it will be difficult and time-consuming. Since EAs can store a lot of data, they can use it to test out multiple strategies and then choose the best one for the trades.
- A Forex EA Removes the Need for Expertise: With a forex EA, people who are just starting with forex trading will be able to trade easily. They will not require any expertise since the expert advisor will advise them and act on their behalf.
- A Forex EA Does Not Recognize Fundamental Data: A forex EA makes decisions using statistics, charts, and historical data. However, they ignore external factors such as industry trends or political factors. These factors can play a part in determining the profitability of a trade. In the absence of this knowledge, the results of trading can be less than favorable.
- A Forex EA Is Subject to Technical Problems: Since you run a forex EA from a computer at home, technical issues can arise. These include connectivity issues, hardware failures, and power outages. A technical issue can interrupt the trade execution, leading the EA to miss opportunities or make wrong decisions.
- A Forex EA Has to Stick to One Instrument: A forex EA cannot carry out trading strategies that involve multiple instruments. This reduces diversification and increases risk. It can also reduce the number of trading opportunities available.
- A Forex EA Cannot Execute Certain Strategies: A forex EA cannot handle strategies such as wave analysis. This type of strategy is better suited to live traders with access to real-time news.
Main Types of Forex EAs
There are several types of expert advisors depending on your trading objectives, your requirements for the expert advisors, and the type of trades you wish to use a forex EA for.
Expert Advisor Scalper: An expert advisor scalper opens multiple positions at one time. This type of forex expert advisor keeps these positions open until they make small profits. The EA closes these positions as soon as they generate a profit. Through an expert advisor scalper, you make multiple trades in a day and earn small profits in many of these trades. Expert advisor scalpers can get your account banned since brokers frown upon them.
News Expert Advisor: A news expert advisor bases its decisions around price or trend changes following big news releases. It takes advantage of these changes to make profitable trading decisions. The news releases in question are financial news releases surrounding interest rates and payroll decisions. These releases can have a major impact on prices, which is exactly what a news expert advisor predicts and uses to its advantage.
Hedge Expert Advisor: A hedge expert advisor works by opening two opposing positions. It aims for one position to get a profit while the other reduces a loss. The profitable position is often left open while the other is ultimately closed. A hedge expert advisor observes the profitability of both these positions.
Breakout Expert Advisor: When price surpasses preset resistance and support levels, a breakout expert advisor opens up a trade. The position it opens is often connected to the price increase, which a breakout expert advisor uses to make a profit.
Adaptive Expert Advisor: Adaptive expert advisors do not have a set way of acting. They just act according to how the market acts. This means that, with adaptive expert advisors, you just need to set parameters, and the advisor will make the decisions.
4 Rules of Forex EA
When launching a forex expert advisor, there are some rules you should follow to reduce risks and increase profitability.
- Pay Close Attention to Backtesting Results: You should use the same data you used during backtesting when actually conducting trades. Good backtesting results do not indicate that your entire system works well. It just means that the data you used for the backtesting was of good quality. Not using that data can lead to unfavorable outcomes.
- Check Your Metatrader Connection: As mentioned before, your expert advisor will not work if your connection gets interrupted or if technical issues arise. Therefore, you should keep checking your MetaTrader connection. To improve the execution of your EA, you should reduce the number of windows open in your MT4 workspace.
- Research Market Conditions: One possible cause of your EA failure is its inability to keep track of and adapt according to market conditions. This makes it essential for you to have full knowledge of these conditions. If you want to make a decision based on market trends, you can even run an EA that is meant for trending markets.
- Take Care to Avoid Scams: Since your EA manages your forex trading, a scam can create immense financial problems. You should make sure to avoid scams when downloading an EA. Doing your research will bring your attention to various tried and tested options that other traders believe in. This can help you to make an informed decision. Look for genuine customer reviews and make a decision accordingly.
Initial Deposit $10000
If we can get 20% profit per month, then we can double the account in Six month.
Best Forex EA
FREQUENTLY ASKED QUESTIONS
The foreign exchange market (forex, FX, or currency market) is a worldwide decentralized over-the-counter financial market for the trading of currencies. The foreign exchange market is the largest and most liquid financial market in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US $3.98 trillion in April 2010 by the Bank for International Settlements.
Expert Advisors (EA) / Forex Robot are used to render the trading process automatic allowing to exempt the trader from continuous watching the market. Many professional traders have a big amount of trading systems allowing them to work in different markets and under different conditions. EA is robotic script written in MQ4 language. It can work in the Metatrader 4 trading platform.
Yes it is easy to use. Forex Robot is based on a new generation technology that allows you with a few clicks to install, run and start earning money. No need to be professional. Everyone can do it. It is completely hands free and the whole process is 100% automated.
Yes it is too easy. Just a few steps and you will be ready to use Forex Robot. You will also get a guide when you purchase any Forex Robot, it will help you to install EA. If you still need any help please contact with us.
Yes Forex Robot can work 24 hours per day from the market opening on Monday to the market closing on Friday. You don’t need to monitor you trades. Our Forex Robot will do it for you. It will monitor the trades, open and close positions automatically.
First you need a computer with a minimal hardware configuration and a stable internet connection. Second you need to install Metatrader 4 trading platform. You don’t need to have any additional Forex knowledge.
You can use any broker that offers the Metatrader 4 trading platform. But for Best Result we suggest you to trade with most popular brokers.
You can use Forex Robot with Multiple Accounts. There is no restrictions.
You don’t need to trade yourself. Just turn on Forex Robot and let it trade using your account to bring some profit for you. Of course you can trade manually too. But we recommend that you use only Forex Robot to avoid any loss.
Yes we offer free updates of our robot. Our development team will not stop improving of the Forex Robot and make it competitive on the market under actual market conditions.
We know that the money is the main question. We know well that many people don’t have much money to get started. Our robot is made to be able to trade with a minimum amount of money. The minimum amount depends to your brokerage company too. You can start trading with a small amount as $50.
Every Forex Robot is unique. Please check the guide before trading. If you don’t understand which one is suitable please contact us.
Yes we provide customer support. Our support team is working 24/7 for you. If you have any questions about our robot don’t hesitate to contact us.
Yes you can use. Please Backtest before using it in a real trading. Or use Demo Trade for at least one month with your broker spread and proper balance. Never use in live trading with any pair without demo testing. It is always better to invest time before losing any money.
We recommend to have a stable internet connection and computer hardware, working without interruptions 24 hours a day from the Forex market opening on Monday to the market closing on Friday. Crypto market is open everyday 24×7.
If you can’t keep your PC / Laptop on 24 hours a day so better choice is to get a vps service.
Robot will stop working. You must have to start the robot as soon as possible. Otherwise your running trades will not be closed and it may occur big draw down.
We accept payments by Neteller, Skrill, Bitcoin, Perfect Money, Paypal, MasterCard & Visa. If you don’t have any Paypal you can select custom method during checkout & pay manually.
You have to fulfill only three easy steps to get special discount. Please check the details here.
After completing the successful payment, you will get instant download option from the Dashboard. Please click here to get your download link.
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Offer will End & Price will go up very soon. If you want consistent profit, do not think, Just click the Buy Now button.