Expert Advisors Trading Explained: a Step by Step Guide – Forex EA FAQ
To get started you need to follow the following steps: 1. Open a trading account with a preferred broker. 2. After account approval you can fund the account. 3. Choose a VPS provider in case you prefer to use one. 4. Enable “Autotrading” in your MT4 platform and you can start trading. Trend strategy: Pros: Usually uses stop loss, trailing stops and take profits. Lot size and pairs are variable. Cons: Not many trades – consecutive losers – stop hunting Grid strategy: Pros: EA does not care about market direction. Uses a stop loss, but it’s set far [...]