Expert advisors, auto traders for Meta Trader, are a great way to let the computer take care of your trading. Now, you can use expert advisors with binary options. Combining these two powerful trading tools can take your trading to the next level and increase your earning significantly.
What is an expert advisor?
Many professional trader use Meta Trader, the world’s best trading software for their trading. One of the many advantages of Meta Trader is its easy to handle auto trading function. With Meta Trader, you can use automated trading programs that handle every trading decision for you. These programs are called expert advisors. Expert advisors can generate signals and invest completely independently.
On first, impression expert advisors seem similar to signal providers and auto traders for binary options. They have, however, a number of distinct advantages:
– Expert advisors are completely customizable. With Meta Trader’s easy to handle editor, you can analyze every single line of your expert advisor’s code. Signal providers and robot developers, on the other hand, often leave you in the dark on how they system works. This means, you have to invest a lot of trust and money in something you do not understand. With Meta Trader, you know exactly what you get.
– Meta trader’s editor also enables you to adjust your expert advisor entirely to your preference. While most signal and robot providers are not customizable and deliver their products with a take it or leave it approach, expert advisors give you the flexibility to have your automated trading tailored to your needs.
– Since Meta Trader is so popular with many traders, there is a large and active community that creates expert advisors and shares them through internet forums. This means you can select from an almost endless amount of different expert advisors. Robots and signal providers cannot compete with this variety.
– For the most part, expert advisors are free. While robots and signals can cost you hundreds of dollars in monthly fees, using your own expert advisor cannot only generate better results, but also save you money.
– Meta Trader’s editor also enables you to create your own expert advisor. Learning the programming code is easy and will not take you to long. As a reward, you will get the opportunity to convert your own personal strategy into an automated trading system.
These advantages make using expert advisors for your automated trading a very attractive solution that, when executed well, should outperform all other auto trading options.
How to use expert advisors with binary options
To use your expert advisor with binary options, you need to connect your Meta Trader to your binary options account. Since Meta Trader does not have a build-in tool to connect it with binary brokers, you need to use an additional tool.
Providers that connect your Meta Trader with your binary options broker are plenty. In general, they all work the same way: Meta Trader sends its signal to the provider, which translates it into an order your binary broker can understand and then executes this order.
This process is simple to set up. All you need is an account with a broker and account with a provider that connects Meta Trader to binary options brokers. Most providers offer a list of supported brokers, with whom they can set up a connection quickly and easily. They can, however, connect almost any binary broker to your Meta Trader. If your broker is not on the list, simply contact your connection provider’s support and they will set up the connection for you.
After you have set up your broker and your Meta Trader to binary provider, you will likely have to install a plug-in for your Meta Trader or a separate program that tells your Meta Trader how to send signals to your connection provider. The installation process works either just like wit any other computer program or with an Expert Advisor. After you installed the program, you can begin trading.