The EA is an automated software which you can link to any broker through Metatrader 4/5. It set TP and SL and when the trade move into deep profit the SL move into profit.
The EA works 24/5.
Once the Bot is purchased you get sent an email which instructs how to install the EA. You don't need to give me your account details for your trading account only you have access to it. This works on any broker.
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What is a Forex Expert Advisor?
The forex expert advisor is a program capable of performing in the terminal any action following the instructions of a trader, without his direct involvement. All tasks are performed automatically or mechanically, which is why the advisors are called experts or mechanical trading systems (MTS). Simply put, this is a program sending applications to a broker without any intervention on the part of the trader. You install a profit forex expert advisor to the existing forex online trading platform, which is connected to the server broker, adjust all the settings, and the advisor will begin trading according to a preset strategy.
this only works for MT4 currently. You should only be using the EA on a demo account as a guide line for trends in the market.
Benefits of Forex Expert Advisors
From a psychological point of view, the forex expert advisor is irreplaceable. A trader decreases the responsibility for decision-making, and the trades become less stressful. The trader does not need to have an in-depth knowledge of technical and fundamental analysis, since all the calculations are already included in the program. Besides, the advisor is able to handle the trading signals even when the trader is absent from the workplace.