When entering the trading industry for the first time, many people feel overwhelmed by various technical terms flying at them. The biggest problem for new traders is that we have to constantly watch the market screen. Especially if trading in FOREX, which opens 20 hours a day, fatigue comes from somewhere, leading to the question: Is there another way to make profits without constantly monitoring the screen? The answer is expert advisors or EA.

EA, short for Expert Advisors, are computer programs that assist us in trading on MT4. Instead of making decisions ourselves, EA analyzes statistical data and automatically places buy and sell orders, so we don't have to sit and watch the market all day.

Actually, the origin of expert advisors comes from old problems when people wanted a helper to trade for them. But the issue was that people get tired, make wrong decisions, or misunderstand information. So, the idea of creating a program system to perform this role was born.

The strengths of expert advisors are many. First, you don't need to follow the market; EA works all the time, even while you're sleeping or working. Second, the massive flow of incoming data can be overwhelming, making your heart race. EA filters and analyzes only what is important to its strategy, making decisions based on statistical data, not fear, greed, or worry.

Third, expert advisors have a built-in STOP LOSS system to prevent large losses, minimizing drawdowns. When profits reach the target, EA automatically closes the orders, just like letting it watch the market for us.

However, caution is needed because expert advisors also have limitations. The first issue is that EA is programmed to trade specific assets and cannot be transferred to others. An EA designed for FOREX might not work with gold or oil.

The second issue is that expert advisors follow only the rules set by us. If set to sell when profit hits 6%, it will sell at that point, even if the market is still rising, causing us to miss out on higher profits. The third issue is that no EA guarantees we won't wipe out our account. If the system misreads data or the market moves unexpectedly, losses can still occur.

From personal experience, I believe that using expert advisors alongside manual trading is best. In the beginning, EA helps us understand investment patterns and generate profits while we learn. We should trade small portfolios to gain experience. What EA doesn't do well is that it cannot increase profits when good opportunities arise because it is pre-set. But we, as traders, can see opportunities and capitalize on them.

Ultimately, whether to trade manually or use expert advisors depends on you. But if asked whether it's good, I would say the best approach is to use both together.