Automated trading with Expert Advisors

An Expert Advisor follows a set of programmed rules. When market conditions meet those rules, it acts without you. It can:

• Monitor markets continuously, 24 hours a day
• Send alerts when trading opportunities appear
• Open trades automatically based on its strategy
• Manage open positions, including adding stop loss and take profit levels
• Close trades automatically when its conditions are met

That automation removes emotion from decisions and keeps a strategy consistent.

Three things you must know

They can lose money. No Expert Advisor guarantees a profit. Market conditions change constantly and even an advanced strategy produces losses. A strategy that performed well in the past may not do so again.

Your computer must stay on. The platform must be open and connected for the program to run. Turn the computer off, or lose your connection, and it stops. Many traders use a vps, a remote computer that stays online all the time, to keep it trading without interruption.

Before you trust one with real money

• Test it on a demo account for long enough to see it handle a losing period.
• Understand the strategy it uses before relying on it live.
• Monitor its performance rather than leaving it alone.
• Remember that dynamic leverage applies to its orders exactly as to yours, and that leverage is reduced before weekends. See When leverage is reduced.