Expert Advisors on Forex

  • May 17 2021
  • by
  • Analyst AZA
Expert Advisors on Forex

Options for Expert Advisors on Forex

     To date, the development of automated forex trading has reached its peak. This is not surprising, because technologies do not stand still, in particular computer technologies, so more and more people are switching to trade through software developments, which allows them not to be around the clock at the monitor screen. It is trading robots - forex advisors that are the most popular auxiliary tools that exchange players use for profitable trading.

     Today, the choice of forex advisors is striking in its diversity: a huge variety of software solutions are freely available, thanks to the use of which we can significantly save our valuable time and effort. In other words, through such a program, we can successfully use a robot that is aimed at automated trading - it can perform trading operations according to certain rules and follow a clearly defined strategy. If the system is efficient and profitable, then the exiting advisor will give good results in the form of profit. As mentioned above, today the choice of advisors is simply huge. But before choosing the most suitable Expert Advisor for yourself, you should carefully study what options for Forex Expert Advisors exist in general. Well, first of all, trading robots can be conventionally divided into two main categories: automatic advisors and semi-automatic ones.

       The first group stands out against the background of the second full-fledged autonomy: they are independent of the player, and there is no need for him to be introduced into the activities of the advisor. Semi-automatic trading robots are designed more like expert assistants, thanks to their use, a trader can place stop orders, move orders, and set profits. Also, experts can be divided into categories such as indicator and non-indicator. Indicator type of trading advisors to enter a trade using a tactic that is based directly on Forex indicators. It is noteworthy that you can use this option not only to enter a trade, but you can also close by the indicator, as well as place stop orders. In other words, an indicator advisor has at least one advisor in its functionality. Indicator-free trading robots are experts that enter the exchange based on a mathematical model (mathematical model of calculations).

      Both variants of trading robots can be divided according to the principles of money management. If a standard (classic) group of advisors applies for a stop order and take profit, then the rest includes martingales, grids, averagers, and lockers, working according to the principles of money management. Martingales are the most popular group of market advisors.

      Their main distinguishing feature is the denial of stop orders. The meaning of this Expert Advisor is that in the case of a losing position, the trading robot will open a lot twice as much, and in case of a win, it will compensate for the loss. Discoveries will continue until the expert can recoup, or all his funds will simply merge. As for the grids, these are advisors that establish networks of orders relative to the price (above and below it), and their main task is to make a profit: no matter where the price rushes, it literally falls into the network, and the robot pulls out its profit - from movement in one direction or another (up / down).

       A characteristic weakness of such a group of experts is flat - the state of the exchange when the price starts to cling to both purchased orders above and below the price. A trend group of experts is such advisors that they are based on trend tactics. Scalping Expert Advisors are those robots that directly use market noise during their work, often opening trades with a small stop order and take profit. If a trader understands the pros and cons of a particular advisor, carefully studied its capabilities, figured out the settings and functionality, then choosing a robot will not be difficult. In addition, do not forget about the mandatory testing of your assistant. This will avoid unpleasant disappointments at the exit. Despite some certain risks, trading advisors have significant advantages, which you can see for yourself!

      Good luck! 

img
    A characteristic weakness of such a group of experts is flat - the state of the exchange when the price starts to cling to both purchased orders above and below the price.

Promotions

Trading Analytics

Be one step ahead of the market

imgaza youtube

Profitable trading recommendations, forex analytics for beginners traders

Subscribe our channel

top authors

Technical analyst

Tim Brykov
Technical analyst

Fundamental analyst

Stan Zabar
Fundamental analyst

Head of Analysis Department

Michael Wallenberg
Head of Analysis Department

Economic Observer

Alan Dofine
Economic Observer

Call US Feedback
en de nl fr pt es it uk zh ko ja ar tr hi yi ru