Principles of work of advisers.

The main and most popular type of automated Forex trading is expert advisors . This type of script is the most attractive to trading enthusiasts, as it offers various ways to earn money.

An expert advisor is a program that almost completely replaces a trader in the trading terminal, allowing you to profit without delving into the intricacies of the currency market.

There are a huge number of paid and free automated trading programs, each with its own strategy and profitability level.

What can automated robots do, and what are their uses in Forex trading?

• Analysis - almost every advisor has a built-in algorithm with which the program independently analyzes the market, in most cases these are technical analysis indicators, but sometimes script authors do without them.

• Opening trades - after the advisor has conducted an analysis and concluded that a good moment has come to enter the market, it independently opens an order. Moreover, there may be several orders, this point should be taken into account and the maximum possible volume of transactions should not be set.

• Risk control - most robots have the ability to set stop orders, you should not forget about this when launching the advisor. Only stop orders will not allow the advisor to drain the deposit.

• Closing a deal - occurs in two cases, if a stop loss or take profit .

Why does the deposit drain if the script has the ability to set stop orders? The reason lies in the fact that it is not always possible to limit the maximum loss in the advisor settings. As a result, the robot opens one unprofitable deal after another, each time losing a couple of percent, and if this advisor is a scalper, then a large number of deals leads to a fairly quick drain of the deposit.

To avoid such situations, you should completely abandon advisors that use scalping , or not leave them unattended for more than a few minutes.