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Expert Advisors (EAs) Comparison Table

An Expert Advisor (EA) is a software code that plugs into a trading platform (usually MetaTrader-4) and trades any financial asset according to the instructions of a trader, without his intervention. All positions are opened/closed automatically on a 24/5 basis.

Automated strategies based on Expert Advisors (EAs) analyze the market 24/7 and create, modify, and close trading orders. The algorithms of these systems can spot trading opportunities based on market data (price, volatility, volume, etc.). EAs also incorporate money management modules for position sizing, spread/slippage control, and risk management. An Expert Advisor is codded in specific languages, according to the trading platform that it will be used. For example, if the platform is the MT4 then the programming language is MQL4 and if the platform is MetaTrader5 then the programming language is MQL5.

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Details: Trading Signals

FOREX TRADE SYSTEMS & SIGNAL PROVIDERS

Compare Trade Signaling Systems for MetaTrader4 and MetaTrader5. The below comparison table includes Signaling Interfaces, MT4 Indicators, and Subscription Services (trading room).

TRADE SIGNALS

ASSET CLASSES

FEATURES

DELIVERY

WEBSITE

◙ FOREX TRENDY SIGNALS

(Online Interface -Trend Scanner)

Forex Trendy

■ Forex Trend Scanner

■ Trades many currency pairs in 9 timeframes

■ Includes its own trade interface

■ Forex Trading Signals

■ Trend Analyzer in 9 timeframes

■ Forex Educational Features

■ Email Alerts

■ Pop-up (Screen) Alerts

■ 37 USD / Every three (3) Months

■ Paypal and Credit/Debit Cards

► Review Forex Trendy

◙ EA BUILDER SYSTEM

(Online Interface -Create Custom MT4 Indicators)

EA Builder can create EAs and Indicators

■ Forex Pairs

■ Equities and Bonds

■ Metals, Energies

■ All Timeframes

■ MT4, MT5, and TradeStation

■ Create your own Trade Strategies

■ Full Money Management Features

■ Video Tutorials

■ Create EAs without any programming skills

■ Email Alerts

■ SMS Alerts

■ Expert Advisor Builder

■ 97 USD / to use full features

■ email support

■ Paypal and Credit/Debit Cards

► Review EA Builder

◙ X SCALPER

(MT4 Indicator)

XScalper

■ All Major Forex Pairs

■ M1 and M5 timeframes

■ 3 modes (conservative, medium, and aggressive)

■ Plugs-in MetaTrader-4

■ User-friendly for beginners (step-by-step user guide)

■ 2 Visual Confirmations

■ Email Alerts

■ SMS Alerts

■ Pop-up (Sound) Alerts

■ 147 USD (Lifetime License)

■ email support

■ Paypal and Credit/Debit Cards

► Review XScalper

◙ RAPID TREND GAINER

(MT4 Indicator)

Rapid Trend Gainer

■ Trades any currency pair

■ Works on M15, M30, H1, H4 and D1 timeframes

■ Plugs-in MetaTrader-4

■ User-friendly for beginners (includes live trading examples)

■ Provides Take Profit, Dynamic TakeProfit, Stop-Loss

■ Email Alerts

■ SMS Alerts

■ Pop-up (Sound) Alerts

■ 87 USD (Lifetime License)

■ 24/7 email support

■ Paypal and Credit/Debit Cards

► Rapid Trend Gainer Review

◙ TRADERS ACADEMY CLUB

(Trading Room Signals)

Traders Academy

It includes education and trading alerts.

■ Forex Trading

■ Gold Trading

■ Selected Equities

■ Trading Room Subscription Service

■ Trading Education via Video Tutorials

■ Private Forums with Manual Alerts

■ Private Forum Alerts

■ Trading Room

■ 97 USD / annual subscription

■ Paypal and Credit/Debit Cards

► Traders Academy Club Review

What is a MetaTrader Indicator?

A MetaTrader indicator is a software code created in MQL language which plugs in the electronic platform MetaTrader-4 or MetaTrader-5. This indicator aims to analyze 24/5 the currency market and to create automated suggestions for entering long/short trades. MetaTrader 4 is a free trading platform widely used by online retail brokers and traders.

Does an MT4 Indicator Trades on its own?

No, that is the job of an Expert Advisor or else a Forex Robot. Indicators simply analyze the market and generate suggestions for entering/closing trades.

What is a Forex Signal Provider?

A Forex signal provider is a professional trader or a team of professional traders that offer a suggestion for entering a trade. This suggestion includes a specific price and time, and usually a stop-loss, and a take-profit order. The trading signal is provided to subscribers of the forex signaling service. This is what is included in a trading signal:

(1) The specific price and time to open a position

(2) The direction of the market

(3) A stop-loss order and a take-profit order

(4) The price level at which traders should move their stop-orders to lock their profits

■ Forex Trade Signals Comparison

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Details: Trading Signals

BASIC CONCEPTS AND RULES OF RISK MANAGEMENT

Risk management is maybe the most important component of long-term trading success. This tutorial contains some basic concepts and rules of effective risk management.

Diversification and the 25-2% Rule

Diversification is the holy grail of financial investing. The rewards of diversifying positions in investing are far greater than an average trader can even think.

What means Diversification?

Diversification means simply not putting all your eggs in the same basket. In other words, become more diverse by mixing a wide variety of investments in the same portfolio.

The 25-2% Rule

The first percentage (25%) refers to the asset class, and the second (2%) to the individual asset, therefore:

(i) Don’t invest more than 25% of your portfolio in the same asset class (i.e. stocks, precious metals, Forex currencies, bonds, etc.)

(ii) Don’t invest more than 2% of your portfolio in a single trade position (i.e. a particular stock, a Forex pair, etc.).

Professional traders may apply strategies never risking more than 0.5% per trade.

Controlling the Capital Leverage

High trading-leverage results in:

(i) Increased Profit Potential

(ii) Increased Loss Potential

(iii) Increased Trade Cost

If we consider (i) and (ii) as equals, then the trader has to pay constantly a higher trading cost. If you trade intraday by applying 100:1 trading-leverage, there is a 95% probability that you will lose the entire account in 2-3 months. Professional traders avoid using more than 5:1 trading-leverage.