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i would like to ask what is the difference between Forex robot and expert adviser? I am quite new in this field and I have already Fsb Pro but i am quite confused when i export strategy from there is it a Forex robots or it is expert adviser? I see that Petko is never mentioning Forex robot, but i have met it already many times around, so is it sth different or its the same?
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The true name is Expert adviser. Forex robot got popular from the sales men who actually are selling expert advisers but calling them Forex robot. Why they do that? Because they promise to the people that once you buy it, it will do the work for you, it will make you up to 85% on a single trade, its fully automated and so and so on.. Basically that all is not true.
The name is Expert Adviser, for a reason. It is a tool that automates your entries and exit rules and conditions for the strategy. That all it is. Its giving you signals or entries. But you need to use your experience about the trend, about the moment you are using it, about the Fundamental news that are coming up etc.
Basically it is adviser, not a robot. The word robot just misleads the people that when they buy one expert adviser they will put it on the platform and it will make money for them consistently for years…don’t expect that.That is why in the course Top 5 Forex Strategies i explain clearly that these Expert advisers are the automated version of the 5 strategies. You need to find the way that you will use it or not use it at all. We do our best to maintain them as stable as possible and we do see positive results on the end of each month so far, but as you know past performance does not guarantee future success.
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Hello Desita,
I think that there is no difference between Forex robot and Expert Advisor..
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Long story short, Forex robot is the slang, and the correct name is Expert Advisor.
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So far I was thinking that expert advisor is a human being. And the first time I saw some your courses with 99 expert advisors, I was really frustrated :)
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Hey Casandra! :)
You made my morning smiling :) We can not afford to provide 99 Human trader to each course to each student..
Now seriously, the expert advisor actually does much more than a human:
1. It does not get tired and trades all the time
2. It catches each trade when all trading conditions are met
3. Does not have emotions which is the main reason why traders lose in manual trading
Cheers
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Hey Petko, you are right about that. If humans trade it will be impossible to have portfolio of strategies.
Imagine for one day trading with 2-3 strategies you will need 3 people trading 8 hours each.
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I do not know why I traded so many years manually….really I feel pissed off that I lost so much time and money…
Anyway, in the same time I feel very motivated with EA Studio and the courses from Petko. Thanks so much!
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Hey Andi,
Glad to hear my courses motivated you.
Do not worry, most of the students that take the courses has traded manually and lost some money. This is the usual way people find the algorithmic trading…unfortunately. I hope with the time it will get more popular, and the beginner traders will start with it.
Kind regards,
Petko A
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