Kind Of Forex Expert Advisor
Types Of Forex EA
Forex expert advisor is very important for a professional traders. Even some institution bought automatic forex trading software with expensive price. Why forex robot very important ?
Here some advantages from trading forex using forex automated software or called as forex robot that we can get :
- 24/5 works for you, it means just install forex expert advisor on your vps , set and no need take all day long or all night long in front of your laptop to analyze forex chart patterns.
- No emotion, it means we can moderate lot size management based safe,moderate or extreme depending on forex expert advisor setting parameters
- Never missed signal to entry and exit from forex market of course.
Forex expert advisor have many types based on specific forex trading strategy. There are martingale, averaging, scalping, locking, trapping, swing with long term strategy, and some based on neural network or even there is arbitrage trading system too. But after years in study forex i realize best of the best forex trading technique is using multi time frame analysis using reversal japanese candlestick patterns as our based support resistance. So at the end i think manual will be better if we compare then automated trading software.
But, sometime martingale,scalping and the other forex strategy even give us more profit too. Each forex trading strategies have a different profit loss ratio. Example : martingale is more fast to create some pips than averaging or scalping but risk is always significant from reward right ?.
We need to realize what type of trader we are. Is scalping traders? martingale traders or swing traders?. If we’ve found safety traders so we need to searching averaging forex expert advisor that suitable for you.
Here some little explanation about type from forex expert advisor :
- Martingale forex strategy ; It would be open double size lot or even triple size lot on each level price usually range based on several pips.
- Hedging forex strategy ; It would be open orders buy and sell at the same time then usually using combination of martingale trading rules with pending buy and sell limit orders based 10-30 pips and after hits one of pending limits then another limit orders will canceled and modify to new 10-30 pips based new cycles all the time until all open orders are clear and start over again and again because hedge forex trading strategy have a goal to get profit more faster in one cycle and it happen again and again but hedging forex usually works in ranging forex markets condition.
- Averaging forex strategy ; It means trade always open with fix lot based on several pips based on each signal on currently major trend.
- Scalping forex strategy ; It means trade only take several pips but with big lot size, usually not in news time or only at asia and sideways session
Sometimes we need using forex ea for our trading activity, example if we want to close only profit or only loss or even if we want to close all open orders and all pending orders with only drag forex ea to mainchart and enable it. Then all open orders will close all in seconds. Just for reference you can study many forex ea lists at www.mql5.com/en/market/mt4/expert. There are so many expert advisors with martingale,averaging and scalping on several swing forex expert advisor in there.
