These are programs which allow automation of the analytical and trading processes in MetaTrader4 platform. These are also called “Robots.”
Should you consider using “Robots?”
EA basically makes things easier if you’re a busy trader who pursues personal endeavors or other main source of income. Robots also have their disadvantages, but this does not mean you shouldn’t consider it. Here are some reasons why you should actually consider using an Expert Advisor or Robot:
Robots can trade for you for 24 hours. Traders make time for their personal necessities, giving trading a rest so they can focus on other things. It is nearly impossible for a person to trade the entire day, bur with EAs, you can execute trades for 24 hours. This gives you the chance to not miss on any trading opportunities.
Expert Advisors react on opportunities faster based on coded rules and execute trades based on these rules within seconds. You no longer have to stare and keep a close eye on the chart since Robots can do the job for you.
They can consistently carry out the trading plan since most traders fail to stick to theirs. Robots are designed to stick to the plan without exceptions; no emotions for these programs to get carried away and it is the best way to be disciplined with your trades.
Bottom line: Robots or Expert Advisors can make your life easier. You no longer have to carry the weight of workloads and stress. These programs take over your tasks effortlessly and reliably.
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