How to Trade with Signals & Expert Advisors
Apart from coming up with signals, traders can also decide that they want to trade with trade signals or Expert Advisors. These two methods are very popular when it comes to trading the online market. Traders who want to trade with these techniques might spend a lot of time researching which is the best Expert Advisor or Signal - instead when it comes to EA Bots there a library of Expert Advisor Bots that traders can find on the MQL5 forum & when it comes to signals there's a list of the top trading signal providers made up of profitable traders who trade using MT4 that provide trading signals which traders can subscribe to & trade with.
Signals
Traders can trade using trading signals - instead of generating signals of their own using indices systems traders can sub-scribe trading signals from other profitable traders & copy the trading of these signal providers. Trading using trading signals is sometimes also called copy paste trading.
A signal service such as the MQL5 copy signal service is set up by owners of MT4 software. Profitable traders can then setup their signal service and other traders can then subscribe to these signals from the MQL5 signal service direct from their MetaTrader 4 software platform.
Once the signal service providers generates a trade signal the trade is then automatically copied & sent to the trader's account & similar trade transactions are also opened on the trader's account. These trades will remain open until when signal service provider closes them & on the trader's account the trades will also be automatically closed.
To learn and know more about signals traders can read the guide - MQL5 signals. These trading signals are generated by profitable traders who trade the trading market using their own accounts with money invested in their account & this traders have passed a one month period to prove their trading system is profitable after which these traders have become signal service providers.
EAs
Automated trading strategies in indices are known as Expert Advisors or EA or Bots. These bots are used by stocks traders to generate automated trade signals that will open buy & sell stock trades on behalf of the trader based on a set of trading parameters.
When these sets of parameters are met the EA will then open a trade. The Expert Advisor also has another set of parameters which will be used to calculate where to close a trade.
The best place to begin for those who want to learn how to program & come up with their own EA Bots MQL5 forum of Expert Advisor programmers is best place to start. This forum also has a library of many trading Expert Advisors that traders can download - some are free & some are for sale. Those which are for sale can be tested out by traders using their demo version which can be tested in MT4 strategy tester environment, this way one can test an Expert Advisor to determine how it performs in the market before buying Expert Advisor.
To learn and know more about Expert Advisor Bots, traders can read our lesson - MQ5 Expert Advisors Library.
