Advanced online trading tools that help traders stay informed for any market movement, access to their accounts 24/7 from anywhere in the world via laptops and mobile devices and lower trading costs are just few of the benefits that clients enjoy by using online trading platforms. Some of the online trading tools that could play an important role in forming a trading strategy are expert advisors (EAs), trading signals, chart indicators and virtual private servers (VPS).
What is an Expert Advisor (EA)
One of the online trading tools which should be given extra attention is the Expert Advisor or EA, as it is commonly known in the trading world. An EA is a software program which is designed to automate trading transactions on the MetaTrader 4 (MT4) platform, which is used by STO. An EA can be programmed to notify you whenever a significant market opportunity that matches your trading strategy appears.
EAs can also be arranged to manage every aspect of trading, such as sending orders, opening and closing positions. The trader who would like to utilize an expert advisor program to help him in executing a trading strategy could configure the software according to his requirements. This way, the EA relieves the trader from the anxiety of having to be in front of a computer screen constantly in order not to miss a trading opportunity.
Why use an Expert Advisor (EA)
One of the most important advantages of using an EA is that it can do your trades for you. If a trader wants to trade in global markets, he should take into consideration of the different time zones. This means that when the trader rests, good opportunities might go unnoticed. An EA can operate 24/7 without human supervision, tracking market movements and acting according to the trader’s orders.
Using an EA removes human psychology from the trading equation. Occasionally, even seasoned traders may be carried off by greed or fear. It’s not unusual for traders to abandon their strategies and take decisions based on clouded judgement. A situation such as this could lead to money losses for traders. An EA is trading based only on the programmer’s commands, relying on trading signals without emotion being an obstacle.
New, but also more experienced, traders can benefit from EAs. Beginners are able to test the EA program they want and see if it can match their performance and risk criteria. Thanks to demo accounts that are offered by online trading platforms such as STO, new traders can run tests doing virtual trading, without the danger of losing money in the process. More experienced traders get the chance to build more sophisticated and complex trading strategies than if they would be doing their trades manually. If the right parameters are programmed into the system, an EA can monitor multiple transactions and market movements, making it a valuable asset for the trader.
STO and EAs
Since being established in 2009, STO offers its clients a multitude of ways to trade on the financial markets. STO’s target has been always to follow the latest technological developments that could optimize the client’s trading experience. Always wanting to support the people that have put their trust in STO, we offer advanced online trading tools such as EAs. STO offers free services of Expert Advisors (EAs), 3 months for STO Premium, 6 months for PRO and 12 months for VIP account clients. This way STO ensures that traders have the most advanced tools to help them build their trading strategies.
Trading Forex and CFDs, which are leveraged products, are high risk investments and puts your capital at risk. You may sustain a loss of some or all of your invested capital. Only speculate with money you can afford to lose.