Metatrader expert advisors

Forex expert advisors (or forex EA) are automated trading systems (robot fx) programmed for the Metatrader platform. These forex trading robots are designed to trade forex automatically, without the trader's intervention. When choosing a FX EA trading robot it is important to understand how the fx robot trades, how it opens a trade and manages the opened forex trades.

Metatrader indicators

Also known as forex technical indicators, a technical MetaTrader indicator is generated by a mathematical calculation based on historic price data, aiming to forecast market direction. A robot trading forex (FX EA) can make use of such indicators and even load them on the trading chart, however since the indicators are based on previous data they shouldn't be blindly trusted.

Metatrader scripts

Metatrader scripts can be used to start multiple forex operations or the same operation on multiple charts, just like the forex robots. Usually they are set to run only one time (unlike the forex expert advisors) but here are also scripts that can run in the background, performing the same operation in a loop.

Metatrader templates

MetaTrader templates are pre-defined settings for charting. They help the forex trader to quickly customize a chart by simply loading the template to it, instead of having to place objects, MetaTrader indicators or forex expert advisors every time they open a new chart. MetaTrader includes a few pre-defined templates, like ADX, Bollinger Bands, Dinapoli, Layers, Momentum, Popular, Volume, and Williams.

Forex trading strategy

A forex strategy represents a set of analyses that a forex trader uses to determine whether to buy or sell a currency pair at any given time. Successful forex trading strategies can be based on technical analysis charting tools or fundamental, news-based events. It is widely accepted that one of the biggest mistakes new traders do is to migrate from one forex trading strategy to another forex trading strategy, therefore never learning to trade a specific forex strategy.

Foreign exchange market

The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices. Forex has been in existence since the 70’s of the XX century. It is a fast-growing and one of the most heavily traded markets in the world. The daily trading turnover on Forex is worth almost 4 trillion US dollars.

Currency trading broker

The currency trading brokers (forex brokers) are firms that provide currency traders with access to a trading platform that allows them to buy and sell foreign currencies. A currency trading broker, also known as a retail forex broker, or forex broker, handles a very small portion of the volume of the overall foreign exchange market. Currency traders use these FX brokers to access the 24-hour currency market.

MetaTrader trading platform

MetaTrader is a trading platform developed by MetaQuotes Software for online trading in the forex, contract for differences (CFDs) and futures markets. MT4 or MT5, as they are commonly known, can be downloaded for free directly from the MetaQuotes web site (metaquotes.net) or through dozens of online forex trading brokers.