Expert Advisor
Expert Advisor
Expert Advisor is a fully or partially automatic forex robot, in other words mechanical trading system. The Expert Advisor ( if you switch on "manual confirmation" mode), can inform you about a possibility to trade or trade at an account automatically, (if you switch off "manual confirmation" mode) sending orders directly to the brokerage company.
Expert Advisor can be written on mql4 / mql5 programming languages for metatrader 4/5 platform, Java (FXJava) for DuksCopy, FIX API for Currenex, FXCM etc. Each forex trading platform has a lot of advantages and disadvantages. For automated trading with the expert advisor is the most popular MT4 platform.
Choice of Expert Advisor
Expert Advisors can be divided into several categories, depending on several factors: whether indicators are used for expert advisor or not, whether the expert advisor trades all day and night or only a few hours, what orders are used for trade, and what purposes the expert advisor has. We’ve received many letters with a request to advise the best expert advisor available. Actually, we can’t do it as well as to tell what car is the best one. Each trader has his/her own demands and ideas about the market. I want to emphasize once again that 90% of expert advisor’s success depends on your forex broker. If you took 100 expert advisors, working at good ECN broker, and tried to trade with dealing desk, using them, perhaps, 10 expert advisors, which use limit order trading with big purposes, would show profit. Also, we often receive letters of approximately such contents: “… I like my metatrader broker, I do not want to change it, please, adjust your expert advisor for it...” Think, who is to profit from the working system: a system manufacturer or a market maker? During consideration, take into account that the expert advisor manufacturer will receive more profit, if his expert advisor brings profit, and clients write about it at forums, blogs, leave comments on a website, and the market maker will receive profit, only if you lose your deposit.
If you are successful in manual trade, automation of your trading strategy makes sense. If you do not have a profitable trading system, you can buy a ready-made system - expert advisor. Here are some points to take into account when buying a expert advisor at the manufacturer.
BJF Trading Group inc.
http://iticsoftware.com
Posted by Borys F at 11/21/2009 12:51 PM 
Categories: expert advisor
Tags: expert advisor metatrader expert forex expert advisors
Categories: expert advisor
Tags: expert advisor metatrader expert forex expert advisors
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