Forex $ocial Traders
 

           

Metatrader (MT4) Expert Advisor Help Social Traders

Forex trading can be very difficult sometimes. Social Traders would have to spend a lot of hours watching trading charts for good entry poins and trading opportunities. So many (if not all) of them use expert advisors for metatrader (MT4) to make their life easier.

For example: Many signal providers on one of the best and largest social investment network Zulutrade are using MT4 expert advisors.
If you click on “Traders” tab you will get to Zulu performance table. Those social traders who trade from MT4 and use expert advisors have a small icon EA in circle.

So what is Metatrader Expert Advisor and how it can help?

MT4 expert advisor is a piece of code or program that can help you with your trading. Forex market is open 24 hours a day and offer many trading opportunities during that time. Unfortunately no human can keep 100% focus all day long  and watch charts. Metatrader expert advisors can do that for you. There are some expert advisors that can alert you when right trading opportunity appears. But you can also program your EA to trade completely on autopilot based on your predefined criteria. You can set rules for entry points, exit points, stop losses or simply set trailing stops etc. in this case we can call them trading robots. You define your trading plan and your robot watch the market and executes trades when your criteria is matched.

Big advantage of EAs or trading robots is that they always stick to the predefined trading strategy or plan and they trade emotions free. Emotions are one of the main reasons why majority of forex traders lose.

There are many expert advisors on the internet. Some of them are free, some of them are paid. You can also create your own EA or robot for MT4. You do not even have to know a programming language because there are already tools or softwares that will help you to create it easily step by step.

Remember: When you create a new EA based on your trading strategy, always backtest it first before you put your money in line.

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