The forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, which is why the advisors are called experts or mechanical trading systems (MTS) - RoboForex
It depends on what logic the programmers have coded into it. If you know the internal logic of the trading robot, you will have the ability to control the parameters, then you will know what to expect and are able to correct the robot's actions if necessary. This can be done by building it yourself or buying a fully transparent and customisable robot that suits your trading risk personality and profile.
Potentially, the best Forex Expert Advisor can be developed and programmed to work in multiple ways by utilising a selection of technical indicators or by searching for necessary trends and breakouts. By applying those diverse indicators, the EA will make the decision which action to undertake - purchase, sell, or simply just place an order on the market.
An Expert Advisor can be programmed to take entire control of your account. The idea here is that it will look at your current account balance, before deciding how much of your balance can be put at risk. Furthermore, it may review the trades and decide whether there should be a trailing stop, or either a simple take-profit, or stop-loss - Admiral Markets (Adapted)
Traders that are of legal age that can open a trading account. After knowing the fundamentals of how Forex trading works, they can promote and automate their trading using EAs. They can either learn how to code EAs themselves or buy ready-made EAs.
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