Hey guys!
How do you feel about the recent surge in completely automated Forex Expert Advisors (EAs)? Have they truly revolutionized trading strategies, or do they present more risks than benefits for traders in the long run?
hi, and who are you?
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Welcome. I was also wondering who you are, Andrew.
You don’t have to say, of course: it isn’t breaking any rules just to start with an open question like that when you’ve never posted before and have apparently read very, very few posts here, but it’s obviously strange etiquette - when you start with a question as specific as that, people will naturally wonder whether you’re an EA developer or seller, with some “agenda” for asking, here. That makes sense, doesn’t it?
Your reference to an alleged “recent surge” in EAs really does seem rather odd, given that MT usage (currently for at least 3 different major reasons!) is actually declining, maybe even for the first time ever.
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You need to understand any EA and know its trading algorithm. You also need to be able to optimize it for trading a specific trading pair and control risks. For me, the best EA is the one that is created according to its own manual, proven trading algorithm or trading strategy. Only such an EA can help you earn profit; it is completely understandable for you and has been personally verified by your trading.