About automated forex trading robots or Expert Advisors (EA)

EA forex robot
EA forex robot

In the world of forex, trading robots or often called Expert Advisors well known to traders. Although most users still a manual way, but not a few who like to use trading robots. Then, what exactly is the Forex Trading Robot? where it came from? And why was it created?

Definition of trading robots

Expert Advisor is a software or algorithm script that can add to the forex trading platform with the aim that the application will run automatically or carry out buy and sell transactions without user manual instructions. EA Forex is one of the main components in Auto Trading with various functions.

Now, there are so many forex robots on the internet. You can find easily through search engines and typing forex robots and immediately appear on the start page of the search.

Many sites offer Forex Trading Robots. There is also a commercial or free publication.

Different from other terms, Forex Trading Robot (EA) can use in all transactions on forex. EA can control existing transactions, both controlled by the user and allowed to run alone.

Many Forex Trading Robots widely used by traders in Forex transactions, all paid or free can try.

Expert Advisor specially programmed to assist traders in taking over transactions in futures trading. All forms of trading transactions can use the Forex Trading Robot, so we can categorize them as Trading Assistants.

History of Forex Trading Robots

Forex Trading Robot (EA) has been developing for a long time, first made through a programming language called Metaquotes which packaged in MetaTrader.

Metaquotes was first made from version 1 in 1999 until now MetaTrader has reached version 5. In 2002, MetaTrader version 4 began to make, until in 2005 MetaTrader 4 released.

Of all the meta traders, version 4 is the most widely used, because it includes more complex than before. In version 5, it has given MetaTrader other advantages, one of which is faster transactions when compared to version 4.

For Forex Trading Robots (EA), version 5 is more focused on speeding up back-test and price detection in each Forex Trading Robot (EA).

Types of Forex Trading Robots

We can categorize forex Trading Robots into three, namely:
  • Free Forex EA. The free trading robot referred to here made by certain individuals, then distributed to others without charging a subscription fee. However, free Forex EAs like this are usually less reliable and require modification before they can use safely.
  • Paid Forex EA. Many reliable trading robots traded online. To use it, you only need to pay a certain fee. For this paid robots is the most desirable because if they prove it profit even ordinary people can get a profit.
  • Homemade Forex EA. As explained above, you need to know the programming language to create an EA. If you don't know it, you can also request that is made by the service provider to make an EA based on a trading system that you have tested yourself.

Forex trading robots can do what?

The functions of Forex Trading Robots vary, depending on how the application settings used by traders. We can program forex robots to do:
  • Open position (Buy, Sell) or Close position.
  • Changing the current position.
  • Doing copy or mirror trading.
  • Change the Stop Loss and Target Profit of an existing trading position.
  • Analyzing a currency pair based on certain technical indicator parameters that we can determine on our own. 
  • Send alerts in the form of voice, email, API (integration to other applications).
  •  Analyzing the financial management of our account. Balance, margin, and others.
With the ability to integrate into other applications, the potential for developing EA is unlimited. However, Forex Trading Robots only carry out tasks following the program in it.

A Trading Robot will not get off track from a predetermined system. So, a great EA is definitely the result of a translation of a proven and reliable trading system.

The more powerful the programmer applies it to the robot language, the results will get closer to reality.

Why do traders use forex trading robots or EA?

  • Because robots can discipline to follow signs and rules (unlike traders who usually affected by psychological disorders when trading).
  • They can avoid psychological factors that often mess up.
  • Reduce saturation to always monitor price movement charts.
  • They can use every time there is a trading opportunity, considering that even when we sleep, the robot is still actively working.

How to choose an automated trading robot?

This is difficult because they closely relate it to how you want to treat the robot.
Do you trust 100% with the system and do not intervene manually? Or rather like an intervention. Do you like the style of the short-term, or long-term?

Are you patiently waiting for the robot to open position? Take the time to learn the trading system used by the robot first.

This can help if you want to develop a robot, or what it to use if you really want to intervene or are semi-automatic.

Compliance with the trading style will make the robot more likely to succeed. In paid robots, manufacturers advise believing in fully determined trading conditions.

User intervention can cause chaos and defeat. Given paid, ordinary users can not know the system used by the manufacturer.

It protects program scripts, it only gives users brief instructions for parameters that can set.

Will the performance always be positive? There is no guarantee, all systems whether manual or robot must always repair. Factors such as broker selection, account type, internet speed, server location. Must consider.

Many cases use the same robot, but the results are different, this is because of a failure in duplicating conditions. Maybe the only slow internet speed, widespread accounts, etc.

It is better to follow the directions given by the manufacturer. However, the maker knows better inside and out of his creation robot system.

Paid robots are ready to use, impatience and intervention will usually result in failure of the robot.

How do I get a forex trading robot?

It is easy to get a trading robot, just search on the internet too much. It shares many trading robots for free on websites or in forex forums.

Some are free and it pays some. Please be more careful with free ones, the author can share only for trials.

We can try it first on a demo account or for study material. Whereas paid people sell at 100 USD - 400 USD. For those of you who have the ability in programming applications, maybe you can make your own.

It's easy if you have basic programming, but still, have a trading system that tested and systematic, worthy of being made a robot.

How to Make a Forex Trading Robot?

Every forex trading platform will have its own EA programming language. Among the most popular programming languages there are three:

  • MQL4 programming language for the MT4 platform.
  • MQL5 programming language for the MT5 platform.
  • C # programming language for the cTrader platform.

MQL and C # have a programming structure like (C, Pascal, etc.). So, if you already have experience in computer programming it will be easy to master it.

Do traders have to make their own Forex Trading Robot?

No, now there are lots of EAs that commercialized and can search easily on the internet. Not all forex EAs are reliable.

If a trading robot is reliable, then why should it sell? Used by the manufacturer alone can be a money factory. However, many EA makers also want to get additional income by selling their robots.

Forex Trading Robot Components

The Forex Trading Robot comprises several program components created to assist in transactions. Within the component, there are 3 main components, namely: Init, Deinit, and Start.

The three basic components make the program run. Many transactions will run on start, while the init and de-init as ordering time run or when closing.

If it does not meet the three components, the Forex Trading Robot will not run, even though the program code is available and complete.

Forex Trading Robot Application

For now, we can use the EA Robot Application using a meta editor which can only read the EA programming language code.

MetaEditor is built with Meta Trader Software. It merges the compiled program into one named MetaTrader. Meta editor itself designed only specifically for the work of making Forex Trading Robot (EA), indicators, and scripts. Besides, this application supported by reading notepad as a basis for creating meta editors.


Forex Trading Robot is only a helper of human transactions in forex trading.

Regardless of how it works, EA already equipped with transaction rules from the start of making the code and components available.

Aside from being a helper, EA can increase transactions more leverage without user help in dealing with open and close transactions.

EA still needs a human hand as a controller or full controller in each transaction. Without a trader, EA will lose direction, even though it has made according to experts.

Until now, the EA has been exploding and the business of buying and selling trading robots has become an interesting thing. In fact, I often find many people who do spam on social media by selling EAs, even though the EAs they sell aren't necessarily proven or reliable.

What is certain for now EA has advantages and disadvantages, what are they? You can read it on the page: The disadvantages and advantages of forex automated trading robots or EA.

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