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Automating Profit
With...
Trailing Stop EA
The MetaTrader Expert Advisor is a tool amongst many, to help
novice and experienced investors reap benefits whilst dabbling in
foreign exchange trading. An expert advisor is an interesting and
exciting tool. Also known as forex robot, the expert advisor is an
automated tool that will act as a human, but typically more
efficiently.
It is great for those who are beginners and for those retail
forex traders looking to have the trading edge. The expert advisor
can be programmed easily by the forex trader to automatically make
buy and sell trades making it an trades like a human without
emotions.
A trailing stop expert advisor (EA) offer the possibility of programming
trailing stop strategies and allow this EA to manage the open
trades with pre-selected trailing stop strategies. Trailing
traders' positions with market becomes so easy with the usage of a
Trailing stop EA. The trailing stop EA will
monitor the position and shift stop loss level according after
every close of candle.
Automating profit management through the use of
trailing stop ea is just as important as managing risk through the use of
initial stop loss order. Unfortunately, many forex traders do not
automate the trailing process. Instead they allow their emotions
to dictate when their trade should be closed.
This is a poor practice and because once a trade is opened
there is money on the line and emotions may run higher than before
the trade was opened. Greed often keeps a trader in a trade too
long, while fear often compels a trader to close a trade too
early.
Automating risk management through the use of a
Trailing Stop
EA removes the decision-making process from the trader and shifts
it to the pre-selected Trailing Stop EA. This allows a trader to
go about her trading business knowing that she has planned the
trade properly and will be taken out with a profit or a loss
automatically, according to the plan.
Since a tool is only as great as its creator, it pays to carry
out substantial research on which is the best trailing stop ea to suit your trading needs. Ensure you have performed
sufficient research on the various trailing stop ea, how
they work before you start using them in a live trading account.
"Introducing 11
Exit Strategies, What Every
Disciplined Traders Need... Go Without It You Could End Up Being A
PIP VICTIM
Just Like Thousands Of Traders Out There."
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Best Regards,
Warren Seah And Forex Trailer Team
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