If you are using an Expert Advisor this article is for you! We’ll discover if it is safe to use them or not! So, the first question that we’ll answer is what an expert advisor is. Basically, it is an algorithm that you create, and you can use it in MT4. It automatically trades for you!
Obviously, you will have to establish an algorithm and put it right there. For example, a moving average like MACD or whatever you are going to use as an indicator. This is important for you to know, as what you are looking for is a profitable expert advisor.
How to use an Expert Advisor?
This algorithm specified, can be used by any trader, whether beginner or expert. You will always have to go through the configuration. You will be able to use advanced algorithms. But you will have to modify certain things depending on the time, the day, the market conditions, etc. You will only have to choose the one that is suitable for you. And the one that will make a big difference. Even if it is the most profitable auto trader you will need the knowledge to use it. Otherwise, you will lose money.
Risks and benefits of using an Expert Advisor?
Now there are some risks and benefits of using an Expert Advisor. The most important risk is that you are not trading on your own. So, that can be a risk. The next point would be that since you do not place the trades by yourself you will not be learning from your mistakes. So, you will not know what you are doing wrong.
The next is you can’t be a bad audit trader and you will only lose money. Next is that the trader will stop working someday and do it forever! And the worst is that you are left not knowing how the auto trader did it and you just lose your source of income.
Everything we mentioned above are risks, and the benefits as we already mentioned are that you don’t have to trade yourself!
What should you know before using an EA?
Let’s see some of the things that you should know before trading with an Expert Advisor!
You will have to know how to do it yourself so that you can modify the other traders so that it can be profitable for you. You just need to have a little knowledge about it. Such as the risk percentage, take profit, stop low levels, etc.
So, if you can modify this in your auto trader it will be much more profitable. You can even have it activated while you sleep and continue earning a lot of money. You can create your own automatic merchants by going to eelbuilder.com. It is not something that anyone can do but doing it like this saves you money and time!
The best Expert Advisors!
Now that we know how the Expert Advisors work and how we can use it we’ll see the best Expert Advisors for 2022.
One of the best without a doubt would be FX SCALPING AUTOBOT. Not only because it is cheap. Because it has been profitable in recent months.
With this, you will place 5-minute positions. It is very good, and they give you 2 plans. 6 months for $150 or 1 year for $250 which is unbelievably cheap. https://fxscalpingautobot.com/
The second is the BLW AUTOTRADER. It is a bit more expensive. $97 a month or $997 for a year with trades placed for day trading. It is great! https://blwautotrader.com/
And now you can get the BLW FX tool Auto Trader version which is a good algorithm. You can have it for a price of 367 dollars for life. https://blwfxtool.com/
Conclusion
We can say that using an expert advisor is very helpful when you want to save time and of course money! So, it is very safe. In the article we leave you 2 options of expert advisors. So, you only have to decide which of the 2 you would like to use. We hope that this information has been very useful and so you can gain knowledge of it.