Why Should You Choose Forex EA?
Tuesday , 12, May 2020 Business and Management Comments Off on Why Should You Choose Forex EA?A winning strategy Forex will require a set of rules to follow and the money management system to avoid a margin call. Following these rules is important that your emotions will not affect your trading.
Having good money management can compound your profits very quickly in a very short period of time.
Profitable forex EA or Expert Advisor is the programming language of MT4 (Meta Trader 4) that converts your forex winning strategies into a program that can be run automatically to your designated execute trades depending on your setup rules and strategies. This program allows you to earn passive income after you switched on your trading platform.
Selection of Expert Advisor is very important and many factors are important to get a profitable program. A good Expert Advisor program can be
- Backtested to yield high-profit factor
- Low maximum drawdown
- High winning rates.
Profit factor (PF) is simply divided your winnings over losses. A profit factor of 2 and above is considered a good program. A profit factor of 10 and above is excellent.
The forex expert advisor is gaining more attention these days as people are trying to lower their losses and maximise their profits. With the growth in the number of investors, people will be in an advantageous position because there will be more numbers of tools and expert advisor programs to help in the investments.