Forex trading features) Expert Advisors Many traders (especially beginners) view it as a “magic lamp” for success in the Forex market. They expect every expert consultant they buy or are on their way to make quick profits without any risk. Expert consultants, certainly, are not the “magic lamp” in Forex. Automated trading is just another tool to ease the trader’s life, and sometimes to improve its profitability. The following is a list of the real advantages of trading Forex using expert advisors: Expert consultants provide the ability to trade at times when you can not trade manually. You can create an expert advisor to trade on your behalf when you are asleep, away from the trading platform, or even when you are too busy and do not have time to sit in front of the trading platform. Of course you can hire someone else to trade on your behalf when you are busy, but this solution will not be effective in many cases. A strict trading system is another advantage of Forex trading. If the expert adviser is provided with a specific strategy, he will deal with the specific parameters of this strategy without deviating from it in any way. Therefore, you will be advised to hire an experienced consultant to implement the trading strategy if you find it difficult to follow the signs issued by your system and you have always wanted to modify them. Automated trading excludes any human emotions from market behavior. Computers and software are not affected by human emotions, and therefore will not be overly traded when they are lost. If you do not have enough control over your feelings, then you’ll find great use in automated trading. Expert consultants deal with complex strategies without any problems. Tracking a large number of indicators, and comparing them in terms of the priority of entry points, is not an easy task for the trader, and here comes the role of an expert consultant who can do this easily and in a few moments. The error is human as the old Roman proverb says. The significance of this saying is that whatever your experience in Forex trading you will inevitably commit many stupid mistakes throughout your career. Computers are different from humans in this regard. As long as they are programmed without errors, the expert advisor will not make any mistakes during trading. There are many things that a trader can not do on his own – trading strategies, time frames or multiple currency pairs at once is one of them. If you want to apply the trading system to multiple time frames or currency pairs – then the best option would be to hire an expert consultant. And also if you want to test several systems at once – you will not be forced to use expert consultants. Time spent interacting with events and analyzing them, and decision making may be critical for many Forex trading systems. For this reason, traders may not have the opportunity to interact with current events quickly enough, which is a function of automatic trading systems. In another article we will talk about the disadvantages of automated trading in Forex
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