Hi All my beloved forex warrior,
Can someone help me regarding this question. what is expert advisor? a set of rules you program… I really know nothing about all these…
Thanks in advance
Hi SoulReaction02,
Expert Advisor or (EA) is a program which you can use to automate trading process… It executes and close orders on behalf of a trader…
A care should be taken that never let run EA when you are not able to check it for more than 12 hours or more approx because it can let your account wipe out…
However if you believe that your trading system (EA) is really expert and it can handle many type of market conditions it depends upon your choice on how long you want it to trade for you…
It is advised to back test your EA for at least over past 4 years to test its sustainability…
All the best…
Note that EA trading is very risky, even if backtesing shows that your EA is profitable this does not guarantee that you will be in profit.
Though EA does not have such psychological problems like fear, greed, etc… so EA trading has its advantages