What is an Expert Advisor?
Posted by Anna .T on 23 April 2014 05:58 PM
The Forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, which is why the advisors are called experts or mechanical trading systems (MTS). Simply put, this is a program sending applications to a broker without any intervention on the part of the trader. You install a profit Forex expert advisor to the existing Forex online trading platform, which is connected to the server broker, adjust all the settings, and the advisor will begin trading according to a preset strategy.
From a psychological point of view, the Forex expert advisor is irreplaceable. A trader decreases the responsibility for decision-making, and the trades become less stressful. The trader does not need to have an in-depth knowledge of technical and fundamental analysis, since all the calculations are already included in the program. Besides, the advisor is able to handle the trading signals even when the trader is absent from the workplace.