Automated Forex Trading Systems (EAs)

An Expert Advisor (EA) is actually a small piece of software that plugs in a Forex Platform and trades the Foreign Exchange without human intervention

Fully automated trading systems have become widely popular among Forex Traders, these systems are commonly called Expert Advisors (EAs) or Forex Robots.

What is an Expert Advisor (EA)?

An Expert Advisor is actually a small piece of software that plugs in a Forex Platform and trades the Foreign Exchange without human intervention. The most popular platform for automated trading is MetaTrader4, but other Forex Platforms can be used as well, such as JForex, CTrader, TradeStation, ZuluTrader, and NinjaTrader. Most commonly Forex traders prefer MetaTrader4 based on the variety of providers for automated trading.

Compare Automated Forex Systems





EA BUILDER (Custom EA Builder)

■ Creating Free Indicators

■ Build your Custom Expert Advisor

■ Creating paid EAs

■ Trading Forex, Stocks, Commodities, ETFs

■ Platforms: MetaTrader4, MetaTrader5, TradeStation

■ Fully Customized EA Building

■ Multiple Functions including Time, Trendlines, Support and Resistance

■ EA Money Management Control

■ Indicators Building with alerts (email, audio and on-screen)

■ Free for creating Indicators

■ 97 USD for EA building (One-Time purchase)

■ Unlimited Real and Demo Accounts

» Review the EA Builder


■ Forex Scalping



■ Multiple Timeframes

■ Platforms: MetaTrader4 / MetaTrader5

■ 4/5 Digits trading

■ Focus on Risk Protection, Spread & Slippage Control

■ 299 USD

■ 3 Real Accounts and unlimited Demo

■ Omega Indicator Free


» Review the Wallstreet Forex



■ Forex Scalping

■ Multiple Timeframes

■ Platforms: MetaTrader4

■ Visualize Risk Management / 3 Filters

■ High Reward/Risk ratio

■ 237 USD

■ Free Lifetime Updates

■ 1 Real Account and 2 Demo Accounts




■ Forex Scalping


■ M15 Timeframe

■ Platforms: MetaTrader4

■ Spread & Slippage Protection

■ Trend, Retrace and Countertrend Algorithms

■ Dynamic Take Profit and Stop-Loss

■ 279 USD

■ 1 Real Account and unlimited Demo

■ Free Future Updates

» Review the Forex Diamond

Compare Also:Forex Brokers


How Does an Automated Forex Trading System Work?

After you purchase an Expert Advisor you can immediately install the system into your Forex trading platform. This procedure is very easy and it should take a couple of minutes. Almost all Expert Advisors are providing a manual with information regarding installation and configuration.

An automated Forex system can trade the market 24/5 without any input or other intervention by the user/trader. Actually, an Expert Advisor uses a mathematical model that tells your Forex Platform when to enter a trade and when to close an open position. This mathematical model is mainly based on a combination of technical analysis indicators and Price Action techniques. An Expert Advisor incorporates also complex algorithms in order to optimize the Money Management Process (spread control, volatility control, selective trading, trailing stop-loss, trailing take-profit, etc.)


Important Tips for Forex Traders Using Automated Systems

These are some important tips when using Automated Forex Systems:

(1) Use any Expert Advisor on a Demo Account before trading for real money in a Real Trading Account

(2) Read the manual and make sure you have the right configuration in accordance to your trading style

(3) Make sure that your Forex Broker allows the use of Automated Trading Systems and scalping

(4) Use Automated Forex Systems only with ECN Forex Brokers offering tight spreads and fast execution without re-quotes

(5) Combine the use of an automated system with the use of a Forex Trading Rebate. An expert advisor can execute tens of trades intraday and thus a good rebate can make the difference


(6) Don’t combine the use of an Expert Advisor with other trading activities in the same trading account. Use a separate account. If you trade in the same account both manually and automated you may seriously confuse the Money Management System of the Expert Advisor

(7) If you can’t afford to have your PC turned on, think about a VPS hosting service or search for a broker that offers a VPS service for free:  IC Markets Free VPS service


Automated Forex Trading Systems (c)

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