When you first start to use Metatrader Expert Advisors you are likely to have a few questions. Here we answer some of the common questions raised about the use of Metatrader Expert Advisors in order to help you on your way to successful trading.
How Do I Start Using Expert Advisors?
At FX System Trader we believe that in order to start anything you should be well informed. This is why we have developed several resources and reviews on our website in order to help you with the process of using Expert Advisors as part of your Forex trading.
Take time to read through our site and follow our introductory guides. These will help to give you an understanding of the basics of using a Forex trading system and what to expect.
Once you are happy with the concepts then feel free to take the plunge!
Start by using one of our recommend Forex Trading systems and add more as your confidence and ability grows.
Are Expert Advisors A Real Trading Option?
Absolutely. Automated trading has been around for many years but up until now has largely been the preserve of the big financial institutions such as Hedge Funds and Banks.
The growth of technology in recent years has however opened up this style of trading to the retail trader. High speed Internet connections and increased computing power mean that it is now possible for even the casual trader to comfortably run even fully automated systems.
Many experienced traders use Expert Advisors as part of their Forex trading strategy as well as individuals with no prior trading experience who are looking to generate an additional income.
What Do I Need To Run An Expert Advisor?
In order to run an Expert Advisor you are going to need an Internet ready computer capable of running the Metatrader trading platform. You will also need either a demo or live account with a Metatrader Forex broker.
You can download Metatrader freely one from one of the many Forex brokers who now offer this platform.
How much do I need to deposit to get started?
Technically you don’t need any money to start trading with an expert advisor as you can begin by running it on a free Metatrader demo account. This is a great option and one that we recommend when you first purchase your Expert Advisor. This will allow you to test it out with virtual trading capital while you evaluate its performance.
Once you decide to start trading for real you will of course need a live trading account. You can open an account with many Metatrader Forex brokers from as little as $100. Many of these brokers will also offer new customers a level of deposit bonus. This will help to boost your starting account.
A couple of hundred dollars is a sensible starting point to start trading with in order to earn you a reasonable return.
The other thing worth mentioning here is that most commercially available Expert Advisors will come with either a 30 day or 60 day money back guarantee. You will of course need to outlay the capital in the first place but effectively this means you can try out the system risk free.