Forex EA or Forex Expert Advisor is a software program that automates trading decisions in the foreign exchange market. It is an algorithmic trading system that executes trades based on predetermined rules and strategies. Forex EA is designed to remove the emotional and psychological factors that often interfere with manual trading decisions. It is a popular tool among traders who are looking for a more hands-off approach to trading, as it allows them to set up their trades and let the software do the rest.
So, who knows working Forex EA? The answer is simple – programmers and traders who have experience in creating, testing, and using Forex EA. The process of creating a working Forex EA involves developing a trading strategy, coding the strategy into a program, and then testing the software to ensure it works as intended.
Programmers who specialize in Forex EA development are often skilled in programming languages such as MetaQuotes Language 4 (MQL4) and MetaQuotes Language 5 (MQL5). These languages are used to develop automated trading systems for the MetaTrader platform, which is widely used by Forex traders. Programmers may work independently or for companies that specialize in Forex software development.
Traders who have experience in using Forex EA can also be knowledgeable about working Forex EA. These traders have firsthand experience using the software and can provide insight into its effectiveness. They may have developed their own trading strategies and programmed them into an EA, or they may have purchased a pre-made EA from a developer.
However, it is important to note that not all Forex EA are created equal. Some EA may perform well in certain market conditions but may fail in others. The effectiveness of an EA also depends on the trading strategy it is based on. Therefore, traders should thoroughly research and test an EA before using it in live trading.
There are also online communities and forums where traders can discuss and share their experiences with Forex EA. These communities can be a valuable resource for traders who are looking for advice on which EA to use or who want to share their own experiences with others. Some of the popular online communities for Forex traders include Forex Factory, BabyPips, and Forex Peace Army.
In conclusion, working Forex EA is known by programmers and traders who have experience in creating, testing, and using automated trading systems. While Forex EA can be a useful tool for traders, it is important to thoroughly research and test an EA before using it in live trading. Traders can also benefit from online communities and forums where they can discuss and share their experiences with Forex EA.
