If you have reviewing or researching various currency Forex system trading software, you have probably read or heard about expert adviser (EA) systems. After having used various expert adviser software packages for several months and getting to know the ins and outs of them, I would like to answer some common questions about Forex EA systems for those of you that are interested in learning more about this currency forex system trading software.
1) What is expert adviser software?
Most EA software systems are written in MQ4 language and are automated robotic scripts that integrate with the popular Metatrader 4 platform and makes trades for you based on a complex set of mathematical algorithms.
2) What tools do I need in order to start trading with EA software?
All that is needed to begin trading currencies is a computer with a reliable Internet connection or virtual private server for remote trading. Minimal Forex knowledge is required to get everything configured and start trading.
3) What if I have a 9-5 job? Will the software work when I am away from my computer?
Yes, the software will run on auto-pilot 24 hours a day. If you don't have a lot of free time, it's not a problem. It monitors market conditions, places orders and closes positions for you. All you need to do when you wake up in the morning is make sure the Metatrader platform is running...and check your account history for those profitable trades.
4) What if I don't have any Forex trading experience?
EA software is an excellent software tool for the new or inexperienced trader, due to the fact that all you really have to do is install the software and follow the included instructions to ensure it is configured properly. Typically, I can download and install the Metatrader and expert adviser software packages, open a demo account, make a few configuration changes and start trading in under half an hour.
5) Do I need a lot of money to start Forex trading?
One of the main reasons most people new to Forex trading will like this type of software is the low cost of entry. You can start trading with as little as $100 USD depending on your broker terms. I would recommend training for a few months on a demo account until you are comfortable with the performance of the software and then start live trading with at least $500 - $1000 USD so you can trade with decent share size.
6) What if my computer loses power or reboots?
Loss of computer power or a reboot isn't a problem either. All you have to do is start the Metatrader software, enable the EA and it will resume making trades. If you have a consistently poor Internet connection at home, you can pay a small monthly fee and run the application on a dedicated virtual private server to ensure constant up-time.
7) How can I trust a piece of software to make accurate trades?
Expert adviser software is a robot that watches market conditions that are based on specific trading strategies designed to maximize winning trades and minimize losing trades. Because the robot is not affected by human emotions such as greed, fear or lack of confidence it is much more accurate and consistent than an average Forex trader...and better than even most professional traders. I use the FAP Turbo system and in the time that the software has been making trades for me, it is averaging over 90% winning trades. There have been numerous days when expert adviser software makes winning trades EVERY time, which means money in the bank!
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