What is EA on Forex trading and what is the benefits of EAs on Forex?

Forex EA or Forex Robot

When we search the internet about Forex trading we see things like Forex robots or Forex EAs. So what are these  Forex robot and EAs? Forex EA or the abbreviation for it is expert advisor is a software or a robot that trades automatically in behalf of you. They are programmed based on many indicators and when they see signals from those indicators they automatically place orders whether is a but or a sell order. Forex traders use EAs quite often. The most useful thing about EA in Forex trading is that you can trade when you are not around the computer. Forex trading is a tough job and a 24 hour market. So in this case EA helps in Forex trading by automatically taking decisions. Ok now the bad sides of EAs on Forex trading is most of the EAs won't last long maybe a month or two max. When they starts to give wrong signals and makes wrong decisions they will wipeout your account slowly slowly to zero. So this is the most important reason to not only depend on Forex EAs while Forex trading. It is very difficult to maintain huge losses. And if you want to use any EAs or robot on Forex trading than first back test it with strategy test which is available with every meta trader platforms. But i would suggested to not use Forex robot on Forex trading because these are very risky maximum of the time. So don't buy expensive EAs because when they fails both your money and trading capital is lost. So always use your own trading knowledge in Forex trading rather than your robots. That is for now and keep visiting my blog to get for  information about Forex trading.