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With an EA in place, you can decide how much time you want to dedicate to the markets - you could use an EA for trading alerts but open and close positions yourself, or allow it to open positions on your behalf and merely keep an eye on your running profit or loss. Emotionless trading Emotion can affect your bottom line. Automating your trading helps take the emotion out of your decision-making because an algorithm only views the markets in black and white. Flexibility Your EA can run on any market that you can trade using MT4, taking lots of information into account including price movements, economic announcements, technical indicators or even your current available balance.
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This factor has created a whole market of user programs, distributed both free of charge and on various terms of a one-time payment or subscription. Today, you can find more than one hundred thousand such programs on the Internet.
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Hits: The remarks are quite common among the traders about the fact that the same EA shows completely different results when trading on demo and real accounts. In such situations, the traders offer different suggestions, ranging from DC conspiracy to tricky algorithm of the expert advisor which was initially programmed to siphon a real account. Expert advisor for demo account uses quotes provided by the DC.
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Print Forex traders need to improve and adjust their trading strategies every day to earn more profit through buying or selling, and it is a good idea to learn from past experiences. This is the basic idea of backtesting, which is a way of estimating the performance of a strategy or an Expert Advisor as if it had been incorporated in the past. To do this, you need high-quality historical data in detail. Then, you can run the strategy on the financial instrument of your choice.
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