WikiFX Strategy - Forex EA is the shortened form of Expert Advisor and the abbreviation of forex trading system. It is a programmatic trading system of the MT4 platforms (Metatrader4), in which the language written is MQ4.
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A forex EA is a complete trading program. By programming the trading ideas, the trader make the computer to place an order and to execute the transaction according to a pre-set forex trading strategy. The program obtains real-time market prices through the banking system. It also automatically places orders and grasps the timing of closing positions without mental interference.
What are the advantages of Forex EAs over traditional human trading？
1. Proven trading strategies for real trading.
2. Remove the emotional factor from your trading. Your weaknesses of human nature will no longer play a role.
3. Place automatic orders and automatically adapt to changes in price movements and trends.
4. The computer will monitor the market conditions 24 hours a day, without manual operation.
5. Strict risk management prevents excessive trading.