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MT4 Expert Advisors

The term Expert Advisor can be used to describe both a Signal and a Bot.

MetaTrader uses the term to describe trading bots, but in general it refers to a trading signal.

A Signal Generator is a 3rd party service that can provide clear buy and sell signals. Some of these can be automatically generated using the same methods that a Trading Bot will to determine when to enter or exit a trade, and others will be sent out by human experts.

There has been a huge increase in the amount of forex traded by automated traders. Trading using automated programs goes by many names; algorithmic trading or automated trading, also known as algo trading, black-box trading or robo trading. The programs themselves are variously known as bots, auto-traders, and in Meta Trader, expert advisors.

A growing factor in choosing a forex broker is the use and availability of expert advisors. For the budding auto-trader a system like MetaTrader 4 is a must. A recent factor emerging is stability, both of the user’s computer and their link to the internet, and of the broker’s platform itself. To this end some brokers are offering access to virtual private servers. This negates the risk of losing one’s connection and allowing trades to go against the user in his or her absence by situating the bot in the ‘cloud’.

The basic premise of an automated trader is that it will rely on signals that can be fine tuned by the user, combined with a general money management model. Some of these models are deceptively simple and rely on old gambling systems, like the Martingale system popularised in 18th century France, where the gambler doubles his stake after each loss. These should, in general, be avoided in favour of more modern systems. At PYX Markets we are committed to bringing you the best possible environment in which to choose the right system for you.

MetaTrader 4 has a wealth of features aimed at getting the most of this burgeoning sector. With comprehensive back-testing to fine tune your Expert Advisor (EA), to the powerful MetaEditor. Using its unique programming language, MQL4, this editor allows you to write and refine your own EAs.