An expert advisor is a plugin that you can access through the MetaTrader4 trading application. An expert advisor can execute trades within your account based on a preset series of conditions. You can program new expert advisors or acquire them from third-parties.
An expert advisor can be a good way to help reduce your work load and make sure that you are not missing trading opportunities while away from your computer. However, you may want to make changes to the expert advisor to accommodate your own risk tolerance and trading objectives. In this video you will learn two of the most important ways that an expert advisor can be modified and how to make those changes yourself.
What time frames you are trading and how strongly you feel about the prevailing trend may affect how you manage your positions. In the video you will learn how to make changes to an expert advisor so you are only taking positions in the direction and time frame that you want.
Expert advisors are a good development for active traders but your own analysis should not be neglected. Make sure that you are optimizing your strategies to account for your own preferences, account balance and risk tolerance.
