Selecting Proper Expert Advisor

Published: 13th April 2011
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In case you donít wish to spend a lot of time before your computer then you possibly can go for the option of expert advisors. There are various expert advisors out there in the market and they are often primarily divided into two types primarily based on how long the expert advisors trade. These are short term expert advisors and long term expert advisors.

Short time period expert advisors trade for a short time for example from a couple of minutes to a couple of hours. One example for this sort of expert advisors is scalping expert advisor. Scalping is a way which traders normally use on small time frames like 1 minute, 5 minute or 15 minute time frame. This method entails profiting in small number of pips like 5 pips to 10 pips. So scalping expert advisors trade forex for a small time for each trade since these expert advisors aim at getting only small earnings.

Long term expert advisors trade foreign exchange market for a long time likely from a day to a couple of days. These take a lot of time for every trade. One of the example is trend expert advisor. These expert advisors trade foreign exchange market whenever a trend begins in forex market and trade the market until the trend ends. Since usually trends in forex market are for a few days in some situations these expert advisors trade forex market for an extended time. But usually the revenue range is also way more than short term expert advisors.

Selecting a short time period expert advisor or a long term expert advisor will depend on your trading capital. If in case you have a low trading capital and wish to see results immediately you can go for short term expert advisors. Since with short time period expert advisors usually the stop loss will even be small and the risk will likely be small so if in case you have a small trading capital you possibly can choose short time period trading expert advisors. If you have more trading capital and you can wait for a couple of days to see the results you may go for a long term trading expert advisor. Since with long term expert advisors the stop loss also might be more and you may survive any losses if your trading capital is high. So you possibly can go for a long term expert advisor.

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