Metatrader Expert Advisor

What is an Expert Advisor?

An Expert Advisor is an automated trading robot for MetaTrader. The computer does all of the buying and selling for you. Trading through MQL software solves one of the biggest problems that traders face - their emotions. All that it needs to function is a set of rules. Whenever the market matches the rules, it automatically places the trade. It never second guesses itself or decides to skip trades. Better yet, it never gets tired. You can trade 24 hours a day.

Expert Advisors can do all sorts of things. Say, for example, that you want to open a new trade with a 50 pip stop loss. If that stop gets hit, you want to lose 1% of your account, which most forex traders call money management. You would have to do all of those calculations in your head, open the order box, type the correct lot size into the order box, then push send. Or, the expert advisor could accomplish all of those steps in a fraction of a second.

Traders often use expert advisors as order management tools. They prefer to retain control of when to enter the market, but do not want sit in front of the screen for the next 4 hours waiting for an exit. Trading with softtware solves this problem. It can actively listen and wait while you go about your full time job

Most traders prefer to fully automate their strategies from start to finish. The set of rules that they develop answers three basic questions.

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