When one finally decides to buy an expert advisors which seems to be robust, adequately tested, well behaved and likely to give consistent monthly profits one believes that the problem of having a fully automated money making solution is solved.
Well, what broker are you going to use ? This question is important for many reasons different than those you may be thinking of right now. When people consider brokers, they generally consider things as spreads, honesty, slippage, stop hunting, etc. These are all things that affect the trading of the expert advisor but should all be good when using a decent forex broker.
What really starts to matter are details which you should not have paid attention to at the beginning. In essence, the price feed and the time of the close and opening of the candles. This may sound trivial but the same expert advisor may perform completely different between two brokers with different price feeds. Completely different does not mean a few pips, what I mean is that this may make the difference between having a profitable or an unprofitable return on your expert advisors.
So how do you know ? If you have bought an expert advisor which you have adequately evaluated (you can check my ebook for further details on this). You should have had access to live or demo account information. If you have the investor password and know the broker the ea creator uses, you should use the exact same broker to test your expert advisor. Changing brokers can be fatal for an expert advisor's profitability, particularly when they have take profits smaller than 20 pips or rely heavily on the opening or closing prices of candlesticks to evaluate market decisions.
If you would like to know more about expert advisors and how to evaluate their likehood of being profitable please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
Well, what broker are you going to use ? This question is important for many reasons different than those you may be thinking of right now. When people consider brokers, they generally consider things as spreads, honesty, slippage, stop hunting, etc. These are all things that affect the trading of the expert advisor but should all be good when using a decent forex broker.
What really starts to matter are details which you should not have paid attention to at the beginning. In essence, the price feed and the time of the close and opening of the candles. This may sound trivial but the same expert advisor may perform completely different between two brokers with different price feeds. Completely different does not mean a few pips, what I mean is that this may make the difference between having a profitable or an unprofitable return on your expert advisors.
So how do you know ? If you have bought an expert advisor which you have adequately evaluated (you can check my ebook for further details on this). You should have had access to live or demo account information. If you have the investor password and know the broker the ea creator uses, you should use the exact same broker to test your expert advisor. Changing brokers can be fatal for an expert advisor's profitability, particularly when they have take profits smaller than 20 pips or rely heavily on the opening or closing prices of candlesticks to evaluate market decisions.
If you would like to know more about expert advisors and how to evaluate their likehood of being profitable please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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