What is Expert advisor (EA) or aka Automated Trading Robot?
Expert Advisor is an automated robotic script written in MQ4 language that can work in the Metatrader4 platform and make trades for you! An Expert Advisor is a “robot”. Robots beat humans at chess, and they beat humans at trading. An EA robot will watch the market for you, placing trades under certain parameters (strategies), avoiding the fear, greed, lack of confidence and inconsistency which characterizes most traders. The Expert Advisor has a plan. It sticks to it no matter what, no matter how ugly or uncertain the market looks. It has no greed and will be running 24 hours a day for you. Expert Advisors can only work when the connection to the Internet (in Metatrader4) is established. You must always keep your Metatrader4 online and working to let the advisors trade. If you close Metatrader4, advisors can’t monitor the trades and that could cause you possible losses of deposit. Again, Forex Market is open 5 days a week.