Top Ea Trading for 2021

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EA Trading

Foreign Exchange or Forex trading has become very popular in the last 5 years, but not all traders are able to make profitable decisions.

From the inability to comprehend market movements to over confidence, many traders suffer from great losses.

Expert Advisor or otherwise known as EA has become one of the prominent solutions for traders to avoid these issues.

What is an Expert Advisor?

An Expert Advisor is an automated system for trading designed to trade based on the predetermined rules with your authorization.

As the Forex market is 24/7, an Expert Advisor can capture profitable opportunities 24 hours a day even when you are away.

The Expert Advisor is developed and used on particular trading platforms, typically MT4 or MT5. You can customize your trading presets and use them on your account in the trading platform.

Not a Bot

Even though Expert Advisor is a type of automated trading system, it is different from Forex Bots. An expert advisor does not trade on your behalf and it would require your authorization to execute the trade.

The Expert Advisor would generate trading signals automatically and notify you with the opportunities that may come in tens or hundreds a day.

The preset rules would keep you from emotional trading decisions which is the common problems of new currency traders. No human factors is involved when the Expert Advisor is operating.

Types of Expert Advisors

There are four major Expert Advisors.

  1. The News Expert Advisor that capture opportunities based on global news events.
  2. The Breakout Expert Advisor that uses support and resistance levels to conduct trade at price breaks.
  3. The Hedge Expert Advisor who allows you to trade with minimum loss one side while still capturing profit on another./li>
  4. Expert Adviser Scalper that secures small profits from currency trading

Functions of Expert Advisor

While you can find diverse Expert Advisors on the internet, there are four functions they should have to help you trade the currencies including: