I am sure you all have heard of the word FOREX and by now you must have also learned the term FOREX Expert Advisor and how much profit it can provide to a trader. So you must have asked: “Who is he or she?” “How good are they?” But here’s the rub, a FOREX Expert Advisor is not a human being.

So what is an expert advisor?
We have already cleared up the misconception of many people that an expert advisor is a person who gives you advice regarding your career changes, finances or anything else related to what I have already mentioned. What it is, however, is a module that is compatible with working in conjunction with the Metatrader 4 Forex trading platform.

What a FOREX Expert Advisor is is to map out all possible trades by using its ATS (Automated Trading System) technology. This technology is based on pure logic and completely eradicates all emotion from your trading experience. The common problem is that when it comes to human emotions and business risks, if one gets in the way, it could cost you a good chunk of the money you’ve earned.

But you won’t have to worry about that with a FOREX expert advisor. As it quickly calculates all the historical data and then looks at the current activity of your current currency cross. After gathering all the data, you would make a fairly quick and extremely complicated decision on whether you should buy, sell, or do nothing.

But remember that not all FOREX Expert Advisors are built exactly the same. Some Expert Advisors are not programmed with the best possible mathematical algorithms in mind and will only lose you money over time; in fact, it could make you lose all your money if you choose software that is not very well programmed. So whenever you buy an Expert Advisor, don’t forget to ask for a proof of a back proof and a forward proof.

All of these softwares are available for purchase anywhere on the Internet. There are some notable ones, like Forex Tracer, that many people praise. Forex tracker is among the best advisors available to date. But don’t let the fanfare push you into buying it. There are many others who are also worthy but are less recognized. Therefore, I suggest you do some research and read the reviews of Expert Advisors from other people who have tried it before. Your first hand information would be a vital tool in helping you decide which one to buy. After all, what better advice than someone who was there, did that, and got the jersey?

So don’t make the same mistake that so many other people have made. Jumping on the bandwagon, believing all the hype only to realize at the end that it was nothing more than smoke and mirrors and all their money was gone. Remember, the FOREX industry is extremely competitive, so make sure you get the best advisor possible.