On this page however, we aim to discuss serious and viable auto trading systems. Such systems require constant tweaking and human supervision. The real question is: do these FX robots work and how do they go about making decisions in your stead? Expert Advisors (EAs) MetaQuotes’ MetaTrader 4 (MT4) is the “home” platform of forex robots called Expert Advisors (EAs).
EAs use an endless variety of technical indicators and custom scripts to derive trading signals and to act on them. Anyone can code EAs directly through the trading platform. The programming language used to this end is MQL 4 (MetaQuotes Language v. There is a vibrant market place where traders and programmers buy and sell the best performing EAs. Top forex robots are well capable of scanning an ungodly amount of charts. Through the technical indicators they use, they then find trading opportunities. Once it identifies such an opportunity, the robot can recommend it to the trader. It may also act on it, opening a position according to a set of preprogrammed parameters. Throughout both operational stages, ea trading erfahrungen the limitations of the robotEA are painfully obvious.
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Successful forex trading requires skill, intuition an analytical approach and knowledge. All auto traders, even the best forex robots in the world, function based on technical analysis.