- CFD trading
- CFD trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Open CFD account
- Try free demo
- Platforms
- Platforms
- Platforms overview
- GO Markets trading app
- MetaTrader 4
- MetaTrader 5
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Share trading
- Share trading
- Invest in shares
- Invest in shares
- Trade ASX shares and ETFs
- Share trading platform
- Log into share trading
- Open share trading account
- Help centre
- Downloads
- Downloads
- iOS app
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
Open Account
CFD trading
Trade CFDs on forex, commodities, indices, and more.
Open accountTo open a CFD trading account as a Company, Trust, or SMSF, apply here.
Share trading
Invest in shares and ETFs on the Australian share market.
Open accountOpen a Personal or Company/Trust/SMSF share trading account.
- CFD trading
- CFD trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Open CFD account
- Try free demo
- Platforms
- Platforms
- Platforms overview
- GO Markets trading app
- MetaTrader 4
- MetaTrader 5
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Share trading
- Share trading
- Invest in shares
- Invest in shares
- Trade ASX shares and ETFs
- Share trading platform
- Log into share trading
- Open share trading account
- Help centre
- Downloads
- Downloads
- iOS app
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & analysis
- Trading Strategies, Psychology
- What’s an EA: Expert Advisor
- Timesaving – The Forex market is open 24 hours. As a trader you are always looking for an opening in the market for you to execute an order, however, as a human you need to be able to sleep to operate normally, especially if you want to live a healthy life. With an EA in place, you can time the market, set alerts, watch various markets simultaneously, set open and close trades yourself or allow it to open and close trades on your behalf. For a lot of forex traders who’d like to profit from market movements during a particular trading session but are stuck in a different time zone, using an expert advisor means that they don’t need to worry about trading sleep for pips.
- Emotionless Trading – The market is wholly affected by emotion, whether the emotion makes you want to buy or sell an asset is down to how you understand the information or how you perceive the charts. With emotion you can either be gripped in a circle of greed or a loss of confidence which can cloud your thinking and deviate from a trusted strategy. An EA does not suffer from these as it just needs to meet various mathematical parameters to work. Expert advisors are wired to stick to system commands and take valid trade signals, without feeling pain from losses or joy from wins.
- Backtesting – Another advantage of having an expert advisor is the ease of conducting backtests, particularly on an MT4 platform. In fact, Babypips have a short tutorial on how to backtest and EA on MT4 and you’d be surprised to know that it just takes a few clicks to see how a system fared over several years. This is mainly used, to make sure that the EA you have acquired, works in the way you want it to work before letting it loose on your live account with real money at stake.
- Quick and Flexible – EAs can open and close trades in a blink of an eye; whilst humans tend to second guess these actions by taking price movements and reading indicators, an EA is built to take these decisions with mathematical precision. Depending on the EA you are also able to check multiple markets and have various EAs on one system at the same time. Some of these features are also extremely useful for short term traders who trade on smaller movements of 1 – minute to 5 – minutes charts.
- Human Error and Accessibility – Human error have cost many a trader in years past, opening the wrong direction on trades, making the size of the position too big or too small, or opening a trade whilst misreading the technical can all have a negative effect on your trading experience. Having an EA can limit these errors as EAs are programmed to your specifications and they would never deviate from that, unless they are not set properly to begin with, but this is the reason why you would always backtest! EAs are available with a decent variety and with great accessibility to these programs, it is no hard to see why they are becoming the automated popular choice for traders.
News & analysisExpert Advisors are programs which are configured to execute trades or read market price movements. When a parameter is met or triggered, it commands the EA to open or close trades on your behalf whilst you are otherwise engaged or sleeping. EAs are compatible to be used on the Metatrader 4 and 5 systems.
Algorithmic trading is a method of executing orders using automated pre-programmed trading instructions accounting for variables such as time, price, and volume. This type of trading attempts to leverage the speed and computational resources of computers relative to human traders. In the twenty-first century, algorithmic trading has been gaining traction with both retail and institutional traders. It is widely used by investment banks, pension funds, mutual funds, hedge funds that may need to spread out the execution of a larger order or perform trades too fast for human traders to react to. It is now also widely available to retail clients. A study in 2019 showed that around 92% of trading in the Forex market was performed by trading algorithms rather than humans.
What are the advantages of using EA’s?
In my follow up article on this subject, I will talk about the use of a VPS and popular EAs. If you like to incorporate your MT4/5 systems with EAs, you can talk to one of our Account Managers who will be happy to talk you through the process, feel free to contact us on +61 3 8566 7680 or email me directly on christianr@gomarkets.com
Sources: Tradersunion.com, IG, Wikipedia, Babypips.
Ready to start trading?
The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.
#ForexStrategy #ForexTrading #ForexTraining #ForexCourse #ForexEducation #ForexHelp #ForexAnalysis #FXSignal #MetaTrader #MetaTrader4 #MetaTrader5Next Article
What’s a VPS and why use one?
In my previous article we discussed, what is an EA and their benefits. To read up on their disadvantages please follow the link to an article written by my colleague Daniel Vary here. Today we are going to discuss how you would use a VPS to enhance the use of an EA, especially if you are running various EAs simultaneously. What is a VPS? ...
June 3, 2022Read More >Previous Article
AGL and The Mike Cannon-Brookes Take Over. Part 2.
Continuing from my previous article on Mike Cannon-Brookes and the take over of AGL, there has been some very important breaking news from the Aus...
May 31, 2022Read More >Please share your location to continue.
Check our help guide for more info.