Many traders look for ways to create reliable expert advisors, advisors that can consistently make profitable trade decisions without requiring any physical presence.
That is because of the huge amount of time, effort and attention that the Forex market needs; it is common to get exhausted from analyzing the Forex charts, which can subsequently lead to losses to poor trade decisions.
Some of the things that can influence your decision making would be human fear and greed, which are things that can’t be felt by Forex robots, they are constantly making unbiased trade decisions, making an easier and faster path for users to reach their trading goals.
Now that you know all the benefits of using a trading robot, why wouldn’t you be interested in having one?
Or even better, you have the possibility of creating your own bot, suited to your trading style and expectations!
Read on if you want to learn more!
What Do You Need To Build Your Trading Bot?
An Expert Advisor builder, as the name suggests, is a software that allows users to create expert advisors manually without the need of learning any programming skills.
What you need to do is identify your trading strategy and set the inputs in the EA builder, which will then do the rest for you, and at the same time, it will provide powerful tools to assist you in the creation of a reliable trading robot.
How Versatile Are Expert Advisor Builders?
Between all the tools that can be found in the builder, you can see risk management parameters, trailing stops, stop loss and take profit parameters, among others.
Expert Advisor builders are compatible with both MetaTrader 4 and MetaTrader 5, letting users to easily transform their manual trading strategies into profitable automated trading strategies for their wanted trading software.
The difficulty of the elaboration of your robot would only depend on the size of your trading account and trading preferences since you can basically create them to save yourself the hassle of gluing yourself to a computer screen for the whole day.
There’s no need to download or install any component on computers as the EA Builder works on a cloud online.
How Do You Get Your Expert Advisor To Work After Building It?
After entrenching a good strategy into an EA, you would just need to go to the Generator tab and set various preferences, like historical data, Strategy properties, and Generator settings. After everything is done, you’ll just need to click the start button and you’ll have your bot working for you.
While you work on your strategies, the EA Generator will be doing the background work to help you in building a better robot.
The EA Generator also provides you with a wider range of tools for strategies, ensuring a successful performance. With the editor, you can conveniently check and review each strategy and later authorize them for trading on a MetaTrader 4 or MetaTrader 5 account.