Everything you need to know about Expert Advisors

May 16, 2014

Feature Series: Everything you need to know about… »

Expert Advisors (EAs)

We all know that one of the fundamental ideas of technological innovation is to make things better, faster and easier for humans. Essentially that means automation and it applies to almost anything; coffee machines, garage door openers, pool cleaners and even Forex trading.

In recent years, with more and more trading being done online, a thriving mini industry has popped up surrounding the creation of trading robots, known as Expert Advisors (EAs). The main function of an EA is to follow specific parameters or instructions to automatically control your trades.

Many traders will talk of the benefits of EAs; it’s easy, it removes the emotion of trading decisions, it requires little maintenance, it doesn’t get tired so can trade 24 hours a day, and so on. But as with anything to do with trading, it’s important to do your research before committing to it.

To help beginners learn more about automated trading and Expert Advisors, we’ve compiled some useful links to get you started.

1. What’s an EA?

A brief introduction to Expert Advisors and why they are popular.

What's an Expert Advisor? | Vantage FX Education

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2. How to use EAs

Another introduction into Expert Advisors – however also, briefly touching on how to use them as part of your Forex and Binary Options trading strategy

 

3. Pros & Cons of Automated Trading

This list outlines several benefits and disadvantages when considering automating your trades

 

4. Best Expert Advisors

A free list of Expert Advisors that have been tested and ranked according to profitability

 

5. How to Install EAs on PCs

This page goes through step-by-step on how to install and activate EAs on your PC version of MetaTrader 4 (MT4).

How To Install EA on PC | Vantage FX Education

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6. How to Install EAs on Macs

Step-by-step instructions on how to install EAs and indicators on your Vantage FX MT4 for Mac.

How to Install EA on Mac | Vantage FX Education

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7.How to create an EA

A guided website with clear visuals and instructions for traders who wish to create their own simple trading robot.

 

8. EA Programming Tutorials

A place for non-programmers/beginners to begin learning to create their own Expert Advisors. There a are series of tutorials starting from the easy to the more complex

 

If you enjoyed this piece and are looking for more educational resources, please see other articles in our ‘Everything you need to know about…’ series.

How can I trial Expert Advisors?

Before you can start using Expert Advisors, you will need an MT4 trading account. This can be a Demo or Live account – both are free to open with Vantage FX. The Demo account is ideal for practising and learning about EAs. The $20,000 Demo account lasts for 30 days and is a mirror of the live trading environment.

TRY A FREE DEMO  OPEN AN ACCOUNT

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