Expert Advisors and How To Get Them
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Expert Advisors, or EA's, are custom software that can be executed under the Metatrader trading platform. They are excellent tools for automating trading tasks while participating in the Forex market. So, how to have your own expert advisor? Here's how. Download Expert Advisors Developed by Others Downloading expert advisors is the easiest method. It doesn't require knowledge of programming, or even money in some cases. A lot of them are available online for download, and are offered either commercially or for free. These custom software are easy to download, as the file size of expert advisors only range from a few to several dozens of kilobytes. Non-commercial expert advisors can often be found in forums, where forum members share their trading systems and other software for feedback and suggestions. However, most of them are not profitable, so you need to perform a lot of testing on your own. You may also want to ask the program's author on how the expert advisor makes its decisions in Forex trading. That way, you no longer have to start from scratch when devising improvements on the EA's logic. You may even share your findings with the author of the software, and if he is responsive, can lead to a mutually beneficial relationship. Commercial expert advisors, on the other hand, require payment before downloading. The owners of such trading systems advertise their products to be profitable in the Forex market, but in reality, not all are, so beware of scams. They may give some figures or some information attesting to their claims of profitability, but it is still best to do some research first before clicking on the buy button. There are some websites that give forward tests statistics of commercial expert advisors, and the information found on those sites can be very useful before deciding purchase any commercial trading system. Another disadvantage of commercial expert advisors is that, unlike their non-commercial counterparts, it is almost impossible to know the trading strategy behind those trading software, as their owners do not release the source code upon purchasing. Code Your Own Expert Advisor This method is mostly free, but will take a lot of effort on your part. Learning programming takes time-time that could rather be spent on learning more about Forex trading and profitable systems. But in case you would really like to learn programming on your own, there are a lot of free resources online that teaches aspiring programmers to develop Metatrader custom software for their own use. Software That Builds EA's There are certain software specially designed to develop expert advisors. Most of these are available commercially, while the free ones have very limited functionality. Some of the commercial ones are offered for a fixed price, while the rest demand periodic subscription. However, due to the functional approach of EA builders, they lose most of the flexibility and customizability inherent in Metatrader programming. These applications are only limited to developing basic and intermediate software. It is almost impossible to develop complex trading systems using these tools. Get Expert Advisor Programming Services This method offers the greatest flexibility in developing EA's. Compared to other methods of obtaining expert advisors, this one often costs lesser in terms of price and time. You don't need to have any programming skills at all. It won't take much of your time, and delivery of the software often takes a few days. You don't have to pay for a monthly subscription - you pay on a per project basis. When hiring Metatrader programmers, everything is as hassle-free as possible for the trader. Sounds good so far, but here's the catch - the trader needs a profitable trading system, or at least a system that has a fair chance of becoming profitable in the live markets. Otherwise, hiring the services of a programmer may prove more costly than the combined costs of the other methods previously mentioned. Carefully evaluate your situation as to which method will work best in having an expert advisor to use for Forex trading. Each one has its own set of advantages and disadvantages. But in the end, whichever methods you took will no longer be important, as long as you have a profitable trading system - automated by software! FAP Turbo: FAP Turbo Here!