Forex Expert Advisor (trading robot) is a computer program used by Forex traders to automate the trading process. As a rule, trading of Expert Advisors implies work on a certain strategy: trading by trend, martingale, scalping. There are several types of Forex Expert Advisors. Automatic — for full automation of trading (market analysis, entry and exit). Semi-automatic — auxiliary robots with limited functions (analytical advisors, trailing stop). Statisticians — advisors to collect certain data and provide them to the trader. It is recommended to check the efficiency of the Expert Advisor first on the demo and then on the real trading account. As a result of comparative tests, the behavior of the Expert Advisor should coincide in the test and real modes.
Trading with Expert Advisors increases the efficiency of operations and reduces the workload on the trader. If configured correctly, the Expert Advisor will not cross the risk threshold. Emotional mistakes are also excluded (there is no human factor). The trader saves time and effort: after testing and setting up the system — he or she needs to check the work of the Expert Advisor and, if necessary, adjust its settings.