Forex trading robots have greatly improved the possibilities of making lucrative returns from the forex exchange market. With an Expert Advisor builder, you can conveniently create profit-making robots without worrying about writing complicated lines of code or possessing other technical skills. In this article, we’ll talk about how to use an expert advisor builder to create automated trading systems.
What is an expert advisor builder?
As the name suggests, an expert advisor builder is a software which allows you to create expert advisors (EAs) manually without programming any code.
You’ll just need to add your preferred entry and exit rules available from a predefined list, and the rest will be automatically completed for you—without any single drop of your sweat.
With just a few clicks and following some simple instructions, a forex robot builder allows you to create amazing robots within minutes.
Because no technical experience is necessary, any person can use the forex robot creator to generate profitable automated strategies.
Regardless of whether you are a total newbie to the world of forex trading or you boast of several years of experience, the forex strategy builder is what you need to easily and conveniently create robust EAs.
Here are some benefits of using an expert advisor builder.
- Easily create profitable robots
With an expert advisor builder for MetaTrader 4 and MetaTrader 5, you can easily transform your manual trading strategies into profitable automated trading strategies for your trading software.
Depending on the size of your trading account and trading preferences, you can effortlessly create amazing robots to save you the hassle of gluing yourself to a computer screen for the whole day.
Furthermore, whether you are a scalper, short-term trader, or long-term trader, you can easily learn how to create trading robots that sufficiently represent your trading style.
Also, important to mention that expert advisor builder works in the cloud online so there’s no need to download or install anything on your computer. In other words, such thing as expert advisor builder download does not exist because you simply log in online to a website where the EA builder is integrated.
- Save costs in developing EAs
Presently, if you want to develop an EA, you need to be an experienced programmer. Or, if seeing lines of code make your head to spin, you can hire an experienced programmer to code your strategies into a robot.
Programming is not easy and few people attempt to pursue that route. Hiring a coder is usually expensive and the programmer may misrepresent your instructions in the lines of code.
Therefore, you can use an expert advisor builder to save the costs and never worry of any line of code.
- Easily customize your automated strategies
The expert advisor builder is loaded with extensive features to assist you to customize your automated strategies according to your tastes and preferences.
Furthermore, you’ll access an extensive range of inbuilt functions such as support and resistance, trendlines, and pivot points so that you can easily incorporate customized settings to your robot.
What is an expert advisor?
An expert advisor refers to a trading software that automatically makes trading decisions on behalf of the trader.
After you’ve identified a profitable trading strategy, you can code it into a forex robot for MT4 and save yourself from the perils of manual trading.
An automated trading system will initiate and manage trades based on the strategy or algorithm a trader utilizes in the forex market.
Simply, it’s giving a ‘machine’ the powers to trade on your behalf, and reach trading limits, which otherwise could be humanly difficult to achieve.
In manual trading, a trader has to be physically present to initiate trades, manage running trades, and exit trades. In automated trading, all the tasks are taken over by a software, allowing you to spend time in doing other things.
Here are some benefits of transferring your trade decisions to an expert advisor.
- Forex Expert Advisor allows for non-stop trading
The forex market typically operates round-the-clock, 24 hours a day.
If you are trading manually, you need to glue yourself to your computer desk, extensively study the market, and constantly monitor the charts; otherwise, a profitable trading opportunity may pass you.
However, with robot trading, all the hassle is unnecessary and you’ll have all the freedom you need.
All you require is to give instructions to the robot when to enter and exit the market, and also manage your running trades—everything will be done non-stop without any fatigue issues. Is this interesting?
- Forex EA allows for making more profits
Expert advisor builder for MetaTrader 4 allows you to make more profits from the forex market.
Since the trading strategies are already in-built, the expert advisors can identify trading opportunities which you may not easily identify.
During their creation, the robots are usually integrated with parameters that enable them to make the best and emotion-less decisions.
Most traders tend to make revenge-based or emotion-propelled traders, especially after making consecutive losses.
However, robot trading is not prone to greed-driven decisions, which results in greater profits when used for trading.
- Forex robot allows for fast trading
Forex robots can scan several hundreds of trading charts within seconds and make fast trading decisions, something impossible to achieve with manual trading.
In addition, since forex robot software makes decisions according to pre-set parameters, making trading errors is less likely.
Manual traders usually make silly mistakes because of tiredness, depression, or other human weaknesses—somethings that machines can surmount easily.
How does an expert advisor work?
After creating a trading robot using an expert advisor generator, you can install it on your trading platform and start using it for trading.
You’ll be provided with easy-to-follow setup instructions you can use to ensure the robot is working perfectly.
Remember to follow the instructions as given or seek for assistance whenever you encounter problems during the installation process.
Once you’ve successfully installed the expert advisor, you can attach it on a trading chart of your chosen currency pair, such as EURUSD or GBPUSD.
Consequently, the robot will be using the in-built strategies to make trading decisions on your behalf.
It’s essential to note that you can try the performance of the EA under simulated forex trading conditions to ascertain its profitability before launching it for live trading.
More so, you can adjust its settings until you’re able to get the best combination capable of delivering optimal trading results.
Once installed, the trading robot will work by using the implanted strategies in its algorithm to make trade entry and exit decisions.
Since the decisions are coded into the robot, it will be automatically making the trade decisions while you spend your time elsewhere.
For example, if you have a successful strategy that gives the sell signal whenever the EURUSD touches the major resistance for the day, you can implant that rule into a robot, and the signal will be executed whenever that criterion is met.
You can also include the trade targets on the robot. If you include a take profit level, the trade will automatically be exited whenever the level is attained.
Likewise, a stop loss level will prevent you from making big losses whenever the trade goes against the initial expectations.
Creating a forex robot for MT4 without incorporating such precautions and other risk management strategies is dangerous and could result in extensive losses.
How to make an expert advisor
Previously, creating real money-making EAs was tiresome, complicated, and expensive.
Now, with the introduction of the robust online-based EA builder tool from the Forex Robot Academy, making profitable trading robots is easy and uncomplicated.
The EA generator software enables you to make reliable automated trading systems without requiring any complicated programming skills or other technical expertise.
The whole process for making an expert advisor is automated for you, and you just need to feed your trading preferences and the rest will be completed flawlessly.
What’s more, the forex expert advisor tester will back test your strategy and instantly provide you with the results, allowing you to ascertain whether your strategy is profitable or not.
Here are some simple steps you can use to create real profitable robots using the tool.
- Entrench your strategy
After you’ve identified a profitable trading strategy, you can entrench it into the robot you’ll create.
Remember that you can perfect your strategy under simulated forex trading conditions to ensure it works as expected.
To start entrenching your strategy into an EA, under the Generator tab, set your various preferences—historical data, Strategy properties, and Generator settings.
Thereafter, click the “Start” button, and the magic will start.
The EA Generator will work on the background to entrench your strategy into the robot.
Furthermore, it will back test your strategy and display the results.
Once the process is completed, click the “stop” button.
- Sort the produced strategies
Under the Collection section, you’ll find all the strategies you’ve created.
Here, you can do many things, including sorting your strategies, filtering your strategies, and removing all your strategies.
- Finetune the strategies
The Strategy section has several tools you can use to finetune your strategies and ensure their successful performance.
For example, by using the Editor, you can fine tune your strategies through incorporating various parameters.
More so, by using the Editor, you can conveniently review your strategies before authorizing them for trading on a MetaTrader 4 or MetaTrader 5 account.
You can also use the Editor to check whether the backtested results meet your performance goals, before refining them further.
Another tool available on the Strategy section for refining strategies is the Optimizer.
With the Optimizer, you can effectively optimize your strategies by comparing them against an extensive range of trading conditions, as the results are automatically displayed on the backtesting area.
For instance, you can use the Stress tester or the Multi-market tester to optimize the performance of your strategies under different trading conditions.
- Check the report and export the EA
Under the Report section, you can get comprehensive data concerning your created strategy. If the results are not satisfying, you can go back and improve your strategy.
If the results are satisfying, you can export the EA to your trading platform and experience the benefits of automated trading strategies.
Forex EA generator
The forex EA generator from the Forex Robot Academy is the best way to create reliable money-making robots.
Instead of spending a lot of money hiring a programmer to create an EA for you, you can use the online-based tool and escalate your trading profits to higher heights.
A forex robot creator is an all-in-one tool that comes with a wide range of exciting features to assist you to build optimized EAs without ever worrying about any line of code.
After you’ve identified your trading strategy, you just need to input them into the forex robot builder, and the rest will be completed effortlessly within minutes. Possessing complicated programming skills is not necessary.
What’s more, after creating the expert advisor, you’ll automatically receive backtested results, which allow you to gauge the profitability of your strategy.
If the backtested results do not satisfy your expectations, you can easily modify the input parameters until you are confident of deploying the expert advisor for MetaTrader 4.
Currently, the Internet is littered with every type of expert advisor for creating forex robots. Regrettably, most of them lack the intuitiveness and reliability required to meet the needs of traders.
Worse still, most of them are falsely advertised with flashy banners promising traders quick, unrealistic gains. If you trust such forex robot creators, you could end up disappointed and wasted from losing lots of money.
The forex EA generator from the Forex Robot Academy promises what it delivers: an opportunity to create amazing profit-making robots without any programming skills.
So, if you have been looking for a reliable way to make real profitable trading robots, you can use the Forex Robot Factory to create expert advisor for forex and experience the benefits of trading with robots.
An expert advisor generator is what you need to automate the process of creating competent robots without programming or writing any line of code for yourself.
With a trading robot, you will be able to trade non-stop, experience fast trading, and make more profits—some benefits difficult to achieve with manual trading.
Start using the expert advisor builder today, and you’ll never regret!