What is the difference between an Expert Advisor (EAs) and Forex Robots?
EAs are programmed to automatically generate trading signals and notify you of trading opportunities. Also a Forex Robot is another automated trading system which like an EA is a program that can identify market patterns and generate trading signals. However, unlike an EA, a Forex Robot can automatically trade on your behalf. An EA, on the other hand, will always require a trader to manually authorise a trade.
On strict definitions, the difference between an EA and a Forex Robot is that an EA will generate signals while a Forex Robot will perform trades without any manual sign-off required. However, the terms are often used interchangeable, which means that many so-called Expert Advisors are capable of far more than just generating signals.
As with any automated software, EAs and Forex Robots reduce the chance of making emotional and irrational trading decisions, which commonly affects novices or inexperienced Forex Traders. EAs and Forex Robots follow a very strict and consecutive plan, free from any human intervention.
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Justin Iheakanwa: However, unlike an EA, a Forex Robot can automatically trade on your behalf. An EA, on the other hand, will always require a trader to manually authorise a trade.
Wrong and wrong. EAs can trade when programmed to. There can be no difference.
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