What are Expert Advisors?
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An Expert Advisor (EA) is a piece of software that runs on different MetaTrader platforms so as to allow you to carry out automated trades. Expert Advisors are customizable per the user’s wishes, and they possess analytical capabilities that allow you to make many investment decisions without any intervention on your end.
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These Expert Advisors are built using MQL, a special MetaTrader 5 scripting language. This language facilitates the ability to build custom Expert Advisors and can be used to build an endless number of Expert Advisors with various functions and specialties.
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It is also possible to purchase pre-made Expert Advisors, since EAs are offered for sale by many financial institutions and professional traders.
What are Expert Advisors?
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Automated trades can be carried out using Expert Advisors without any need for human intervention.
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The software is primarily operated through pre-programmed scenarios, as the programmer enters a group of conditions related to a particular method or trading condition into the software and gives it orders to make trades based on those pre-entered conditions.
Advantages of Automated Trading Software - Expert Advisors
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Response speed: These Expert Advisors have the ability to make decisions based on their own programming and execute trades in fractions of a second, allowing you to take advantage of trading opportunities at a very high speed.
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Accuracy: Due to their reliance on algorithms and complex mathematical models, expert advisors are able to make accurate decisions based on advanced data analysis.
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Risk management: Expert advisors allow you to adjust risk levels and accurately apply risk management strategies, which reduces the investor's exposure to losses.
