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Differences between the Foreign Exchange Market and Stock Market May 23, 2022
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Expert Advisor (EA)

Mira Team by Mira Team
December 28, 2020
in Forex Terms
Reading Time: 1 min read
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Definition – What does Expert Advisor (EA) mean?

An expert advisor (EA) is a software program that analyzes data and provides a trader with buy and sell recommendations that fit within the trader’s strategy. Much like a trader, an expert advisor analyzes historical data and forecasts future price movements using this data. Unlike a human trader, expert advisors are able to integrate a huge amount of data and process it very quickly for the purpose of forecasting.

ForexTerms explains Expert Advisor (EA)

Expert advisors are algorithmic in nature, meaning they are rule-based in how they analyze data and come up with recommendations. A trader still sets the strategy for the expert advisor – often referred to as the trading model – and the EA finds trades that fit that strategy. Using EAs can enable a trader to run multiple trading strategies simultaneously.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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