What is an Forex EA / Expert Advisor?
Forex EA means foreign exchange expert adviser, used on the MetaTrader 4 trading software platform. A Forex EA completely automates your trading system, allowing you to make or lose money without doing a thing. Hundreds of these robot expert advisers have come to the market since 2008. Although there might be some good ones that make money, a lot of them are just marketing hype. So do some research before you purchase.
An EA or
expert adviser is simply a set of rules that are programmed into the
MetaTrader 4 trading platform software. This enables the software to
execute these rules on autopilot without user input. EA's are also
called trading robots, because they can trade the Forex markets 24 hours
a day as opportunities arise. Although some people will run EA's on
their home computers, you also have the option of running them on
virtual private servers or VPS, which alleviates the need to keep your
computer on at all times.
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