1. Forex Advisors – a
Brief Journey into an
Automated Trading

2. Forex Expert Advisor is a special program written for trading platforms such as
MetaTrader 4. Advisors are often called trading robots, experts or EAs. All these
concepts can be united by the term of automated trading.
Trading on Forex is not easy. It is especially difficult when emotions and greed bar from rational thinking. Many traders
are already familiar with the process, which simplifies trading and relaxes. How not to lose the deposit and not to give
last money for nerves treatment while trading on Forex? Very simply. Meet Forex advisors.
An advisor trades on a live account without trader’s intervention, or semi-automatically, that is, warns its “master”
about the actions and asks confirmation. Developers together with economists write Forex robots in the MetaQuotes
Language Version 4 software, or MQL4. Normal user who is familiar with this language, could easily write his own
Forex Advisor.

3. The EA main task is to simplify trading and get profit. It
is based on an algorithm that consists of three stages:

4. The EA main task is to simplify trading and get profit. It
is based on an algorithm that consists of three stages:
Market analysis:
the advisor analyzes the market situation
and looks for ways to enter the market.
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5. The EA main task is to simplify trading and get profit. It
is based on an algorithm that consists of three stages:
Market analysis:
the advisor analyzes the market situation
and looks for ways to enter the market.
Orders opening:
two or three indicators send signals and the advisor opens
a position.
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6. The EA main task is to simplify trading and get profit. It
is based on an algorithm that consists of three stages:
Market analysis:
the advisor analyzes the market situation
and looks for ways to enter the market.
Orders opening:
two or three indicators send signals and the advisor opens
a position.
Orders closing:
Stop Loss and Take Profit orders are activated, or a signal of
a trend reversal is sent, and the advisor closes the position.
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7. Stop Loss is a pending order, which a trader uses in
order to limit losses. The trader sets Stop Loss in
advance at the level, where the order should be
closed if the price goes in wrong direction. The order
is executed automatically.
Take Profit is a pending order that a trader uses to fix
profits of a trade. The trader sets Take Profit in
advance at the level where the transaction will be in
profit. The order is also executed automatically. More
details here.

8. Strengths of
Forex advisors

9. Emotions control
Robots work following the given
algorithm, they do not know fear,
greed, anger. Unlike the trader EA
won’t be afraid and close the
transaction, it won’t go off at
half-cock. And if it earns a profit, it
won’t go back on the market for more
prey. The emotional component is
being deleted.

10. Round-the-clock market
monitoring
Robots monitor the market 24 hours a day.
Many traders are not traders by vocation:
they can be managers, carpenters,
firefighters, etc. They can hardly
combine a busy work schedule with
a Forex trading. Then trading robots will
help with that, as they do not sleep and
get tired. They save time and bring profit.

11. Fast response
Modern technologies perform tasks faster than a
human: a calculator will compute how much will
be 356*28 in a fraction of a second, while a
sixth-grader will do calculations in columnar
form for several minutes or even longer. So
advisors are the same. Forex robots react
immediately to the market situation, since it is
factored in their program. The trader can be
slow while deciding to open the order or not.
Advisors enter the market perfectly, in the same
second as soon as the necessary signal arrives.

12. Multi-armed bandit
Forex Expert Advisors can monitor
several currency pairs
simultaneously. This opens up new
horizons in trading. Traders need
no longer to sit in front of the
monitor for a few hours and switch
from currency to currency.

13. Beginners luck
EAs make life easier for a beginner,
because a good robot can do the
whole job for him. An inexperienced
trader can observe the actions of
advisor and learn to read the signals
on the market.

14. Weaknesses of Forex
advisors

15. Error 404
404
Trading advisors are written by
people, and as we know, all the
people make mistakes. Errors in the
system can lead to deposit loss. It is
dangerous to rely on the robot
completely.

16. Soulless robot
Forex robots work only following the
given strategy. However, economic
and political news, rumors on the
market, force majeures affect the
price movements of currency
pairs. Robots can not take them
into account. And they have no
intuition, which is useful for the trader.

17. Everything flows, everything
changes…
The market is unstable. Market
behavior, trading strategies are
changing, so advisors quickly lose
their applicability. If not to
reconfigure the robot in time, it will
operate under the old scheme and
lose the deposit.

18. A pig in a poke
To download the advisor for free or even to
buy it – it’s like to order shorts in the Internet
shop: you never know what will be the
quality, whether a size and a color will fit
you, will a seller send you the shorts at all.
An attractive description does not
guarantee that the robot is really good.
Perhaps some crafty evil genius designed it
intentionally so that traders lose money. And it
is quite difficult to develop own robot by
yourself.

19. Stop Advisor
Some brokers prohibit
trading with the help of
robots.

20. There are many advisors on the Forex market.They are divided into the following types:
● trend advisors;
● scalpers;
● Martingale system advisors;
● multicurrency advisors;
● network orders advisors;
● advisors working with or without indicators;
● advisors based on neural networks;
● combined advisors.

21. Where to get the
advisor?

22. There are three ways to get the trading robot:
Some advisors are already built in the MT4 trading platform. This may seem a little. Therefore, one can
download for free or buy more trading robots through the Internet. To say what advisor is better –
paid-for or free – is difficult, since there are many scammers and they spread their products as for the
money, and free of charge.
to buy;
to download for free;
to write your own.

23. One can get free EAs in Code Base library of robots and indicators, which is already built in MT4 terminal.
How to do that, watch in the video:
You can also buy advisors (paid-for and free) in MetaTrader Market or to order the robot by experienced
developers, if you can not find one that will satisfy you.

24. It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:

25. It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:
Check the seller’s reputation, find
out more about him.

26. It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:
Check the seller’s reputation, find
out more about him.
Ask him about the principles of
the EA. The seller needs to know
his product and answer all
buyer’s questions.

27. It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:
Check the seller’s reputation, find
out more about him.
Ask him about the principles of
the EA. The seller needs to know
his product and answer all
buyer’s questions.
Remember that sellers can embellish
reports on advisor profitability in the
past: forge charts, readings, etc.

28. Pay attention to the robot
profitability: it should be an average
of 15-20%, but not more than 50%.
Too high yield says either about the
aggressiveness of the robot, or the
seller’s lie.
It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:
Check the seller’s reputation, find
out more about him.
Ask him about the principles of
the EA. The seller needs to know
his product and answer all
buyer’s questions.
Remember that sellers can embellish
reports on advisor profitability in the
past: forge charts, readings, etc.

29. Pay attention to the robot
profitability: it should be an average
of 15-20%, but not more than 50%.
Too high yield says either about the
aggressiveness of the robot, or the
seller’s lie.
It’s not easy to choose a good advisor. So as not to make the wrong
choice, then follow some little tips:
Check the seller’s reputation, find
out more about him.
Ask him about the principles of
the EA. The seller needs to know
his product and answer all
buyer’s questions.
Remember that sellers can embellish
reports on advisor profitability in the
past: forge charts, readings, etc.
Read reviews of the assistant
that you want to buy, look for its
analogues.

30. So, you have decided what the advisor to buy.
Test it before you start. How to do it?

31. So, you have decided what the advisor to buy.
Test it before you start. How to do it?
MetaTrader 4 trading platform allows to test EAs.
This function checks the operation of the robot based on its
historical data. That is, you can see the Expert Advisor actions in
the past and whether they were effective while trading. How to
activate the tester in MT4 follow the link.
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32. So, you have decided what the advisor to buy.
Test it before you start. How to do it?
MetaTrader 4 trading platform allows to test EAs.
This function checks the operation of the robot based on its
historical data. That is, you can see the Expert Advisor actions in
the past and whether they were effective while trading. How to
activate the tester in MT4 follow the link.
Trading robot can also be checked on the demo account. However,
this method doesn’t give 100% result, since there are no slippages on
training account.
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33. The trading robot will help you to trade, but it won’t do everything instead of you.
Remember that the market is very volatile, the robots obsolete. Pay close
attention to the applicability of the EA. And better do not rely completely on it,
work with your mind. And remember that advisors do not give a 100% guarantee
of earnings.
Be careful and have a profitable trading!

34. Thank you for
watching
the presentation!