MetaTrader Expert Advisors (EA)
MT4 | MT5
Expert Advisor, commonly known as an EA, is a software written specifically for the MetaTrader (MT4/MT5) platform. An Expert Advisor (EA) is a trading robot that automatically places trades for you. They trade using fixed mechanical rules without any discretion.
FAQs about MetaTrader Expert Advisors (EA)
I've no experience with automated trading. Is it easy to use an Expert Advisor?
Generally speaking, it is easy to install and deploy an Expert Advisor on a trading account. However, they work best when you also have a decent knowledge of the programmed trading strategy into the EA.
With an Expert Advisor, how much percentage I can make per month?
It must be surprising to know that the world's top-performing hedge funds make around 25-30% annually. Trading robots are great, but you should keep your expectations aligned with reality.
What is magic number in an Expert Advisor?
The magic number is like a unique ID that EA associates with its trades so that it can identify and manage them without interfering with the trades that are opened by other Expert Advisors.
Most of the time, there is no need to change the default magic number in EA's input settings. However, if you are running two or more EAs on the same account, make sure each of them is having a unique magic number.
How to backtest an Expert Advisor?
In Metatrader, pressing the ctrl+R will bring up the strategy tester. On the tester, select the EA you want to test and choose the presented options such as backtest date, symbol, time-frame, etc.
When ready, click on the start button. Once completed, the backtesting result will be available on the screen.
With my purchase, I received set files that contain optimized input parameters, but they don't seem to be good anymore.
We optimize our Expert Advisors at the time of publication. As the financial markets are continually evolving, a single optimization can never be good for forever.
We encourage you to read our EA optimization guide to find the latest optimized parameters.
Do I need a VPS to successfully run an EA?
If you want to run an EA 24/7 with consistent internet connectivity and peace of mind, you should definitely use a VPS.