A Forex Expert Advisor (so called Forex Trading Robot, EA, or Automated Forex Trading Software) is a mechanical trading system designed to automate forex trading activities on the MetaTrader 4 platform. Expert Advisors are used for automatic account trading while managing all aspects of trading operations including sending orders directly to your broker’s server, automatically adjusting stop loss, and trailing stops and take profit levels.

Expert Advisors are all unique and differ in the rules they follow to enter and exit the market. One of the main advantages is that they eliminate emotional trading decisions and allow investors to exercise a strict trading system without falling outside the borders of the pre-programmed parameters. This rock solid consistency is one of the features that make these programs so attractive to serious investors. Even more, Forex Expert Advisors are designed to evaluate more parameters at the same time than any human could monitor at once.

Expert Advisors use technical indicators in order to assess market conditions and make trading decisions. In order for the Expert Advisor to work, the trader must attach it to an individual chart on the MetaTrader 4 Forex trading platform. As mentioned an Expert Advisor can take into consideration dozens of different factors in an instant in order to decide what trade to perform next. This ability to consider such a broad range of price influencing factors coupled with the discipline of a mechanical trading system devoid of emotion leads to a very successful trading combination.