Pros and Cons of Using Forex Expert Advisors | IFC Markets

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Dear Nasril Nizam

Expert Advisors: Pros and Cons Many traders are interested in the question about the benefits of Expert Advisors and signals. Let us explore together whether the use of automatic advisors is worth considering for your trading strategies. Pros: • Opportunity to earn effectively - advisers can bring a decent increase in the deposit, which can be calculated as 10-15% or 100-150% per month, of course, at different risk levels. • Aware of the market situation 24/7 - trading robots are able to "monitor" the situation on the market around the clock. Their settings have built-in automatic analysis based on technical analysis tools that do not require the participation of a trader. • Time-Saving - it is enough to install and run the adviser, providing him with round-the-clock access to the Internet, he will do the rest himself. • Emotions don't interfere - Robots do not get tired, do not suffer from absent-mindedness, and human emotions are replaced by a strict algorithm of actions. Cons: • Trading robots are developed by people who have the ability to make mistakes, so sooner or later an error may "emerge" in their settings, which will lead to the drain of the deposit. • Markets change radically - The Expert Advisor is not able to make a decision on its own if the situation on the market changes radically: it will continue to open deals following the algorithm prescribed in its settings and increasing the potential risk with each new deal. • Expert Advisor today may lose its relevance tomorrow, which is why trading robots tend to become "outdated" and require constant monitoring and periodic optimization. • Traders lose their feel of the market - an experienced trader who has given the reins to a trading robot gradually ceases to feel the market, loses his trading skills, which means that he is unlikely to be able to control his "assistant". Want to try Expert Advisor, open Your Free Demo Account and download one of our trading terminals. Demo Account     Regards, IFC Markets Team +442039661649 support@ifcmarkets.com

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