Forex expert advisor (EA) is an automated trading system. These systems operate in accordance with a clear algorithm. They are designed to execute profitable trades. You can find Forex EAs at any Forex resource. But bear in mind that not all EAs are equally helpful. Moreover, the majority of offered advisors is useless and can lead to not only zero result, but also to a loss of the entire deposit amount.
Do not believe that a Forex advisor will make you a millionaire in a short period of time. The proverb “There is always free cheese in a mousetrap” can be applied to these very programs. Please, remember that even “fee-paying cheese” can turn out to be absolutely uneatable as an EA is only a program based on a certain algorithm, which, in its turn, is build on the past events. I repeat myself: past events. And Forex market leans upon the technical analysis and the real events taking place today or tomorrow. i.e. it exists in anticipation and depends on these expectations to a great extent. Anyway an advisor can become a good technical indicator which in due time will signal a possibility of a trend reverse under definite conditions.
Forex EAs are offered as an alternative to trust management. With expert advisors, when you open a position, you rely on the program’s algorithm and do not analyze the market yourself. In this case, you pay a fixed amount for signing up for a Forex advisor, and it trades through the trading platform of your broker.
Anyway, that is you who take up the risk of losses if the situation on the currency market goes not your way.