Some of you are familiar with the phrase Forex EA, but for those of you who are not the acronym EA means Expert Advisor˳ A simplified of stating what that is goes like this, it is usually a custom-designed Forex robot for the Meta trader platform˳ It easily slips right into the program and can be used to identify and launch trading opportunities for you on an automated basis˳
As a general rule, you will find that most Forex EA’s are not as feature rich and as powerful as a full blown separately designed automated Forex trading software program˳ However in the last 2 years, those once simple programs have started to harness the capacity of traditional automated training software˳
Another name for the Forex Expert Advsior (EA) that has been coined is Forex trading robot or just plain Forex robot˳
The whole idea here is to give you the impression that all of your trading is under the control of a sophisticated, highly advanced technological marvel of innovation˳ I guess I can go along with that˳ From some of the Forex robots or Expert Advisors that I have seen at work it can appear to be a work of pure genius!
However, let’s be real! It’s not all a bed of roses˳ We can definitely get pricked be some thorns when dealing with these Forex autobots! And, if you are out there looking for a free Forex EA you should pay close attention to what I am getting ready to type˳
ALL of the automated Forex trading systems, Forex EA’s, Forex software autopilot programs and Forex robots will fail at some time in the way that they perform˳ They are not a work of perfection, nor will they ever be! They are designed by modern geniuses, who many have giant egos and personal opinions on what is the best way to do Forex trading˳
With the highly volatile mixture human mental traits going into writing the computer code for automated Forex trading systems errors do and will always occur˳ So, the argument goes something like this; since man is imperfect, the things that he builds will be imperfect also˳
Now, even with all of that said, a free Forex EA can help you still to make money in the Forex market and teach awesome learning lessons along the way˳
This can be best observed by setting up a free Forex demo account and testing the Forex Expert Advisor in a variety of trading circumstances and seeing what happens˳
The truth is it doesn’t matter whether you paid for the Forex trading robot or got it free, you have no business using it on real cash-live account! Absolutely Not! The only place where it should be used is on Forex demo trading account˳ End of story!
Your only initial objective when using any product and/or service for Forex trading is to test it and run it through a battery of simulations in real time˳ Kiss off on the back testing and projections of, if the world was perfect malarkey!
Again, I repeat and strongly emphasize, it doesn’t matter if it is a paid or a Free Forex EA, it must first prove to you that it is a solid short and long term legitimate ally in helping you make money˳ Always and I do mean always, run your test with demo trading account, first! Never diverge from this rule! Your Forex investment capital will appreciate that!
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