Expert Advisor attractions
Expert advisor is really a good thing that helps you in your trading. But nowadays it is getting more attractions. This is because brokers show greenery regarding trader made million and so on. The fact is that, it is possible to make a million dollars in forex market or binary market. But traders should remember this thing that its not easy to do as it is seen on advertisements. Besides brokers, some programmers also took part in this campaign and they started selling their expert advisors in thirsty market. They give false statements and manipulated statements in front of traders and people think that they are right.
We have already discussed the pros and cons of expert advisor. Here we are giving some highlights to remind it again. An Expert advisor is designed by a programmer or a seasoned trader. He insert his strategy in the programming and the expert advisor (EA) follow the instruction of opening and closing of trades in market. This is a simple definition of expert advisor. Most of the traders are greedy, because they see the attractions, and want quick money with less efforts. Expert Advisor is a big charm for them to just invest money, stay back and relax. Expert Advisor will do the rest. It’s damn true that expert advisor will do the rest, but what if the market changes it’s direction? Market is going in south and the expert advisor is in north then what will happen? Simple Answer: “Account wipe out“.
Automated Trading Systems with brokers
Not only forex brokers, Binary Options brokers also offer expert advisors. They will say it automated trading system. These kind of legit systems are against broker’s interest. How will they allow you to trade on the basis of robots rather than luck? Actually the trading is game of luck and brokers are making money through the bad luck of traders. There are several strategies that traders adopt. It’s up to the trader that which kind of strategy he follows. There are several strategy’s EA available online, some of them are free and some of them are paid. Traders can use them easily in their meta traders while trading.
Expert Advisors and their results
Mostly expert advisors fail to give results. People discuss with each other to deceit the traders. They are actually paid people, they don’t know that what they are doing? They are spreading false information and making scammers strong. An expert advisor that is losing lots frequently is in favor of brokers. Brokers themselves look over the platform, they have maintained their platforms against these kind of robots. They don’t allow them to execute orders if they are massively against the interest of broker. Broker disable those accounts that are using these kind of expert advisers. After that traders and brokers dispute, we can see several forums are filled up with these kind of disputes.
I like some expert advisor that I will advice my readers to use on demo accounts first. These are martingale EA, Scalping EA, Hedge EA. These expert advisor performs best, but use them on your own risk. Once again, invest that much money which you can afford to lose. Always remember these golden words, these will not let you depressed. Before start trading through expert advisor, please read terms and conditions of broker, whether broker allows EA or not.
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