Expert advisors

Expert advisors — programs (add-ins) for automated trading, which allow you to take the pressure off the trader to eliminate the human factor, to win the trader time. They are based on the code, which is built on the basis of one or several indicators and the key rules of money management. Only the combination of direct control of the trader over the work of the robot, the analysis of opening/closing positions allows you to achieve success in trading.

Principles of work with the trading advisors

A classic mistake of novice traders – the assurance that the trading advisors will take control of the trade. As practice shows, more than 90% of free robots downloaded from the Internet disappoint traders, merging deposit.

Paid EA or free — the principle of choice of robot is the same:

• the assessment is based on backtest, which includes the following parameters: the nature of the growth equity (line of balance), the maximum profit and drawdown, the ratio of profitable and unprofitable trades, the maximum number of consecutive winning and losing trades (the minimum set of comparative parameters);

• in what conditions the expert advisers work: which asset, in what moments (trend or flat), etc.;
• what indicators and strategies underlie in the advisor;
• the degree of risk and level of return (the higher the potential profit the greater the risk);
• there are no universal robots, each Advisor is designed for a specific strategy, the selection is individual.

Tip: skilled traders are not chasing volume, in other words do not test several robots on the same asset trying to choose the most profitable. On the contrary, they take one EA and run it on demo version on different assets in different market situations, trying to determine its strengths and weaknesses. True professionals correct code, adjusting the robot for themselves.

The basic rules of work with trading advisors:

• pre-testing required. Ideally, testing with one asset under the same conditions on demo accounts of different brokers;
• if the robot made a major drawdown or “leaked” a deposit, do not hurry to put him on the cross. There is the possibility of an anomaly or you put wrong settings;
• do not let the trade go. As soon as the EA went beyond the back test, stop it manually.

On the pages of our site we have placed the most interesting expert advisors. In each review you will see:

• the principle of operation of the robot (use the indicators and the construction of signals for opening/closing a position);
• screen of backtest for a testing period of at least 6 months, including the equity curve;
• input conditions of the start of the trading;
• description of basic settings and their meanings.

• Remember that no robot will give a 100% guarantee of profit. Any expert advisor should be tested for at least 6 months (more about this in a series of articles about evaluation of trading systems) and then based on the results a conclusion is made about their suitability.

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