Resolved Question
What is a MetaTrader Expert Advisor?
over 2 years ago
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Expert Advisors (EA's) allow you to automate your trading strategy so that your account is automatically be traded according to the strategy you specify. Expert Advisors are specific to the MetaTrader platform created by MetaQuotes.Traders can code a strategy using the MQL programming language created by Metaquotes. The MQL4 community found at www.mqul4.com has a vast amount of resources and help guides for traders wanting to learn how to program their strategy into an expert advisor, and there is also a forum to pose questions to other traders. If you don't want to program the strategy yourself, there are various programming services available to hire.And lastly, many websites sell expert advisors; however, keep in mind that there is no guarantee of success and you should carefully evaluate any expert advisor you purchase.
over 2 years ago
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An Expert Advisory (EA) is just fancy name for a forex robot. Sometimes also called a "black box", an EA automatically takes trades for you based on a set of rules that you (or some other person) programs. You can basically use EA's on any broker that allows the use of the MetaTrader platform. You can download the program in the link I provided below.
Personally, I don't trust EA's because market conditions aren't set in stone. Unlike a person, an EA cannot change its strategy and adjust whenever conditions change. To each his own, I guess.
over 2 years ago
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Short for Expert Advisor. This is an automated forex trading program for MetaTrader 4. Also referred to as a forex robot or autopilot trading system.EAs can range in price from free to many thousands of dollars. Do your research before paying money for an EA, and test all EAs carefully before using them to trade real money. (credit to Pharaoh)A good video tutorial for the Meta Trader 4 (soon to be 5) MT4 is in the 2nd source below,
over 2 years ago
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