subject: 5 Smart Reasons to Use Metatrader Expert Advisor [print this page] 5 Smart Reasons to Use Metatrader Expert Advisor
Metatrader 4 platform is considered to be the most popular free trading platform used by traders today. With it contains a vital tool which is the Metatrader Expert Advisor when utilized properly is a great addition to a trader's toolbox. What the expert advisor does is incredible that can totally transform the way you trade and boost your trading ability.
So what are the 5 smart reasons why many traders have Metatrader Expert Advisor added to their trader's toolbox? Let's take a look!
1. Your strategies all programmed (well most of them) to automate the trade for you
All you need to do is to have a set of algorithms and programming rules to have your trading rules, strategies to allow Metatrader expert advisor to execute the plan for you. It save you the hassle of having to be in front of the computer all the time to time you reentry when you can have a great assistant to do the manual job for you. No more missed trades or unplanned exits!
2. No Human emotions involved.
That's right! No more pulling hair pulling experience in front of live trades on decision making. This is almost always due to your emotions being played out and it is such a roller coaster ride each time. Logical thinking will be thrown out of the window when your emotions set in and you might be tempted to interfere with your plan. But with metatrader expert advisor to look out for you, you won't need to worry that much anymore.
3. Testing the feasibility of your newly created strategy easily
With the power of the expert advisor strategy tester to tap on the vast data history of the commonly traded currency pairs, you can create your own expert advisor program logic that carries your trading strategy and parameters you can customize and put it to vigorous testing.
The environment created by the strategy tester will be close to live trading conditions but with some elements of uncertainty such as varying spreads excluded. But the results produced will point out to you in the shortest time on the feasibility of your strategy.
4, Providing Insights to Your Trading System
You will have an idea the performance of your trading system and have access to the key investment ratios like return on investment, maximal drawdown and winning percentage trade. The information are necessary for the system developer to 'tune' his trading system towards the bad times. And also to identify these bad times and their conditions so that a filter can be introduced to stop trading system from trading during these bad times.
5. Optmising Your Strategy
Metatrader Expert Adviser provide the ability to pre-set several parameters with a step-up to identify the best parameter for your trading system. If you do not have idea of how much stop loss to set, you can set the initial stop loss at 40 pip and set in step of 20 pip.
Which means expert adviser will first run your trading system with 40 pip and start increasing it by another 20 pip, each of these changed parameter will have its set of trading performance for comparison. You are required to set a range so that the system will generate data. However, it takes some time for system to generate this results and be patient.
There are a few things that this whole Metatrader expert advisor won't work out for you are:
-You do not power your computer carrying your metatrader platform.
-You do not know anything about the metatrader platform programming language
-You do not know anything about creating a strategy
All of these problems can be solved if in the first place you want to make a difference to your trading ability and most of the solutions can be found online if you want to look for them. So there you have it, the hassle of manual trading can be reduced extensively and it's a great tool to any trader: novice or pro.
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