What is a forex expert advisor? -

I have seen many ads on the internet that say something like this: We are offering you, 2 of our best sellers Expert Advisors, select 2 from the next list: SAFE NEWS EA or CORRELATION HEDGE EA or TRADE THE CABLE EA I want to kow what this is talking about, and what a forex expert advisor is? Thanks. First of all Bob needs to get his facts straight. Forex is NOT a futures market. Because it s highly leveraged like futures doesn t mean it s futures. Forex is the currency markets, where you trade a currency pair like the EUR/USD or USD/JPY. Is it risky? Yes. But so is driving. How many people get killed on American Highways everyday? Does that mean you should not drive? If you drive safely, defensively, and watch your speed, etc., then you greatly increase the chances of getting to your destination safely. Same thing with trading. It kills me when these people make general comments like that. Everything has an element of risk to it, but it doesn t mean you shouldn t do it. And FX used to be for the big boys only. Prior to the early 90 s if you wanted to trade FX, you needed a net worth of at least $10 million and an account minimum of $1 million. But, today you can open an account with as little as $100. Other things like stocks, options, futures, etc. you need to have at least $5,000 to open an account. Now to answer your question an Expert Advisor is basically an automated trading robot. It s just a system that s automated and will trade your account for you. Hope this helps. FOREX stands for foreign exchange. This is a futures market, that is very risky. If you don t know what it is, you definitely should stay out of it. This is a market for rich, sophisticated investors BEWARE, STAY AWAY An Expert Advisor (EA) is a small automated program or routine which will accomplish an activity for you. For example, a common EA is one that will calculate and enter pivot points for you by capturing the previous days High, Low and Close. One of my Trading Teams is currently evaluating an EA that was developed for us by Interbank FX. This EA will allow us to monitor our position values and automatically close all positions to capture a target profit that we have entered. For example, we use a correlated hedging strategy that is in constant motion. Let s say that we input a profit target of $1000. The EA will monitor our position values and automatically close all positions when $1000 profit is achieved. The thing that is awesome about this particular EA is that my positions are monitored 24 hours a day. Living on the west coast this allows me to capture moves in the Asian and London markets while I am asleep. I can assure you there is no better feeling than to wake up in the morning and see that you have already made $1000. It makes it quite easy to roll back in bed and catch some very peaceful sleep. There is an additional feature with the EA where I can have a Trailing Stop automatically in play where we can let our profits continue to climb and only close out when they retrace by a predetermined amount. This prevents us from bailing out too early while profits accumulate. If you would like to learn more or even join our current Trading Team just drop me a line. By the way our Trading Team uses demo accounts so you don t risk any money while you learn about our tools. Best wishes for a prosperous 2007. Paul http://www.teampip.com