An Expert Advisor, or a Forex Robot, is software that can make intelligent trading decisions based on complex mathematical analysis in the fraction of a second. Let technology help you trade better!
A Global Expert Advisor
WHAT IS AN EA/ROBOT
An EA (Expert Advisor) is an algorithm that is programmed to run complex mathematical analysis within preset parameters to execute trades. Simply put, it is a set of pre-programmed rules that help you make intelligent trading decisions.
A Forex Robot is a software program that will use this algorithm and can execute trades on your behalf. Forex Robots (and EA) run on the Meta Trader 4 Platform and perform Forex Trading.
An EA/Forex Robot can initiate and exit trades, manage open positions, generate signals and trade in an automated fashion.
Celestial Trading Tools is an EA/Forex robot that includes pre-programmed strategies and equations that maximizes returns while you sit back and relax!
How does an
EA is an automated system that operates to the parameters or programmes set by its developer. Once connected to your MT4 trading account it will trade on the Financial Markets for you without any human intervention. In other words, the software will do all the things for you, without having to lift a finger and bypass the extensive process of learning to trade for yourself.
Our goal and mission was to design a software that specifically helps those who have a time constraint to trade or lack of knowledge in analyzing the market. By identifying and clearly understanding the problems faced by traders, we were able to create a solution that not only delivers results, but consistently as well. Oh, how we have come a long way from the Bimetallic, Gold Standard and Bretton Woods era!
What are the
functions of an EA?
In manual trading, a trader normally establishes the trading rules and then follow those rules every time she or he wants to enter or exit a position.
As such, a manual trader has to glue himself or herself in front of a computer screen and wait for the appropriate time when the criteria for making a decision fits with his or her rules—something which is tiring and complicated.
With Robot trading, the trading rules or strategies have been ingrained in a computer program, and your trade decisions will be made automatically without your intervention.
What are the
benefits of using an EA?
Trading Robots can work round-the-clock unlike humans. They can analyze the market 24 hours a day, and as long as the preset strategy criteria are met, execute the trades. All this while you are spending time with your family, catching up on your favorite tv shows, or just taking a really long nap! Forex robots can also monitor market fluctuations that you’d have to stay up through the night for, making them a handy time-saving tool for forex trading.
REMOVES EMOTIONS FROM THE EQUATION
Humans are prone to financial biases and other emotions including hesitation, greed, anger and anxiety when it comes to trading. A trading robot can remove all these emotions from the equation and focus purely on the parameters and rules. Buy when it needs to buy, sell when it needs to sell, all based on the math. No egos, just equations!
COMPUTATIONAL SPEED AND FLEXIBILITY
It’s like using a calculator for complex addition, times a million. Imagine being able to compute thousands of charts, analyze multiple data points, and make quick decisions to buy/sell based on market conditions, all in a second. That’s what a trading robot can do for you! What’s more – there is the ability to tweak the mathematical formula behind the algorithm to suit changing market trends, appetite for risk etc.
Backtesting is a technical term that refers to applying the Expert Advisor algorithm to historical data(sets). This allows for tweaking the algorithm, enhancing performance, fixing errors etc. before it is allowed to trade live. This also enables testing of fixes and new rules that can keep up with variations in market trends much more easily.
While as a human, you are limited to checking a single currency pair and evaluating if trades should occur, a Forex Robot with its computational ability, could do that for you in a fraction of that time, and across multiple currency pairs, allowing you to take advantage of the trends across markets.
GOOD FOR BEGINNERS
Automated Trading works the same for traders of all skill levels, as the trades are based off of the EA algorithm. For this reason, they are especially beneficial for people that are new to trading and may not understand all the complex nuances involved in trading.
Is the EA guaranteed to make profits on all trades?
No – The EA does not guarantee profits, there is a risk that you could lose some or all of your monies and therefore you should seek independent financial advice before deciding to follow the EA.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss in excess of your initial investment with no exception for expert advisor and managed account. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.