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What is a Forex EA
Forex EA is an intelligent trading system, the English name is Expert Advisor. At present, the mainstream foreign exchange trading software is metatrader 4/metatrader 5. What we usually call ea refers to the automatic transaction processing program developed in the MQL4/MQL5 language for the mt4/mt5 platform. Of course, some traders also have corresponding intelligent transaction processing programs when using other trading software.
The realization of various functions of EA is based on the needs of metatrader 4 traders for trading. Traders build their own trading needs with reasonable logic and write them into programs to become EA. EA itself is just a noun, an abbreviation for a program, and its soul is a strategy formed by traders' perceptions and needs of trading.
The main functions of EA are as follows:
1. It can realize fully automatic trading of foreign exchange, metals, crude oil, indices and other products, which is the biggest highlight of EA. Automated trading EA developed by strategies such as various trends, martins, grid pending orders, etc.
2. Orders can be processed in batches. Such as one-click opening and closing of positions, one-click pending orders, various trailing stop losses, modification of stop loss and profit, batch closing and account overall profit and loss clearance series EA.
3. Various signal comprehensive analysis or signal alarm system can be realized. Such as various trading analysis systems developed using unique algorithms or calling indicator signals.
4. It can realize multi-account synchronization and documenting. Such as local or network copy EA.
5. It can be used for comprehensive analysis of trading profit and loss or position alarm. Such as various position statistics EA.
6. It can realize the output of transaction status and connect with other programs. and many more.
Advantages and disadvantages of EA:
1. In terms of batch processing or comprehensive calculation analysis, EA has incomparable advantages over humans. For example, for 100 orders, it is necessary to modify the stop loss and take profit or to calculate the profit and loss of these 100 orders. The execution time of EA is calculated in seconds. Manual execution is much slower than EA, and the probability of error in manual execution is also high.
2. In terms of the execution of trading signals or risk control rules, EA is executed mechanically, while manual labor is easily affected by fluctuations or other factors.
3. The disadvantage of EA is that it cannot adapt to changes. The market is ever-changing, and no one rule will work forever. Sophisticated traders have enough experience to deal with changes. Therefore, many semi-automatic EAs are more popular now. Using EA to assist manual trading may give full play to the advantages of EA itself.
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