Before giving you the 3 reasons to use an expert advisor for trading the Forex market, let's answer this: what's a Forex Expert Advisor? An expert advisor is an automated system, a program that'll trade automatically the for you. It's most of the time developed to run with MetaTrader, the trading platform. Is composed of two or three files that you just have to copy in your installation directory. Then, when you launch MetaTrader, you just have to select the expert and apply it to a chart pair. It'll start to analyse the market and trade it.
Now that you know what's an Expert Advisor, here are the reasons you may want to use one.
1. No need to be a trader.
No real experience is needed to use an expert advisor. Of course, if you want to monitor it yourself or even trade with the expert advisor running simultaniously, you're free to do so. But the advantage to stay away from your computer and do what you want isn't negligible. It may be a great choice for investors who don't have time to trade. If you don't a trader, you can keep your job and let the expert run when you're not at home!
2. No emotions implied.
That's a fact, trading emotion free is a skill every trader has to learn. Sometimes, we want to enter or exit a trade earlier or later than we should an lose money. The expert advisor isn't guided by emotions, only technical analysis.
3. It's cheap.
This is true, some expert advisors cost more than $ 1,000, even if…