FxPro Quant - a tool to create Expert Advisors without any programming experience

     
This week, forex broker FxPro presented FxPro Quant this week - a new tool that allows traders to develop and build their own Expert Advisors (EA) without any programming experience. FxPro's Quant technology allows traders to build an EA using basic drag and drop techniques!

What is an Expert Advisor (EA)?

An Expert Advisor is a computer programme that traders can use to automate their trading.

The functions of an EA are based on a pre-programmed trading strategy that incorporates technical analysis, money management and trade execution rules that were provided by the system's creator. In a nutshell, a trader can define his trading strategy, then use a programming language to write a programme that will monitor the trading conditions that are necessary to launch and close out trades.

It is important to note that the programme runs locally on your PC, the MT4 platform must be running and connected to FxPro's servers for the EA to work.

Why use an Expert Advisor?

To organise your thoughts

The mere attempt to define and code your strategy will make you a better trader.

To free yourself from greed and fear

When real money is at stake, emotions inevitably affect trading decisions. EAs process orders automatically without being influenced by emotions.

Less stress while trading

Trading without a predefined strategy can produce a lot of stress, especially when things do not go as hoped. It is sometimes difficult to make a decision regarding when to open a trade, what position size should be used, where the stop loss should be and how to comply with the trading plan. The use of a trading strategy that is pre-programmed into an Expert Advisor can eliminate the trader's anxiety, because the decision-making process is calculated mathematically without the interference of emotions.

Take advantage of every trading opportunity 24h/day

How many times have you turned on your computer just to discover that it is too late to take advantage of a trading opportunity? And how many times have you had to wait for hours to open or monitor a position? After all, the forex market operates 24h/5 days a week! The use of an EA can significantly reduce the time that you spend glued in front of your screen. You could be using your time more wisely to improve your strategies.

Avoiding trading mistakes

Human errors are not always psychological, the miscalculation of the size of an order or the stop loss level can affect one's profit potential. An EA greatly increases the accuracy of your trades!