What is Expert Advisor?
Expert advisor is special software designed to automate the trading process. Simply put, it is a boon for a trader that will trade automatically when you cannot sit in front of a computer screen. However, the most important thing is that robots can trade according to the systems that cannot be used by humans to the full extent. They are the martingale strategy, pyramiding or averaging, for example.
All forex advisors can be divided into several categories depending on their application. The most popular system today is the advisor based on the martingale strategy. There are also trend-following robots that go viral as well as advisors based on scalping or pipsing strategies. Some traders prefer programs based on news trading strategy, while sticking to a semi-manual mode.
Almost all forex advisors were designed for MetaTrader 4 and MetaTrader 5 platforms. To use a forex robot, you should buy it, set the needed parameters and enable it in the trading platform. However, prior to buying, you should make sure it works properly. Moreover, you can create your own advisor, but first you need to find and think over your own strategy that really works.