Richard958 Scott

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What are Expert Advisors (EAs) in forex trading?

Expert Advisors are automated trading programs designed for platforms like MetaTrader 4/5. They execute trades based on pre-set algorithms without human intervention. Institutions develop sophisticated automated systems in-house, while retail traders often purchase or build EAs. Benefits: discipline, 24/7 execution, and removal of emotional bias. Risks: poor coding, curve-fitted strategies, and broker restrictions. EAs work best when combined with risk management rules rather than being left unchecked. Automation empowers traders to scale, but oversight remains essential—markets evolve, and static algorithms can fail if not updated.