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Expert Advisor | Forex MetaTrader Expert Advisors | Over 20 of the Best EA's for MT4
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The Best Forex Expert Advisors - In One Place
Looking for a profitable expert advisor to automate your trading decisions? Do you want a reliable expert advisor to relieve you of the routine functions of continuous market monitoring? Most importantly, are you looking to avoid the fear, greed, lack of confidence and inconsistency which characterizes most traders?
If so, you've come to the right place, because here you will find a collection of 20 of the best Forex Expert Advisors for Metatrader 4 (Mt4) which you can choose from.
Do you have a brilliant idea that you want to turn it into an automated trading system? You will also discover here how to make your own custom expert advisor.
Feel free to write your own reviews and rate the expert advisors listed below or share the information on this lens with other Forex traders.
Why Trade With Expert Advisors?
Traders are humans and like all humans, we suffer from greed. Like all humans, in crucial moments (or market conditions) we lack confidence, we have fear of what might happen and most importantly, we are usually (90% of the time) - inconsistent.
Taking this into consideration, 90% of traders WILL LOSE MONEY IN FOREX. They will consistantly give away their money to the other 10%.
This, together with the illusion of becoming millionaires overnight trading some "guru's" trading system from an ebook, is what keeps the Forex market a great business for Forex brokers and the so called guru's.
If you really understand this, then you can actually MAKE MONEY IN FOREX...How?
The easiest way to do it is using a profitable expert advisor.
Forex Expert Advisor Software - The Benefits
Trading with a forex robot...
An EA robot will watch the market for you, placing trades under certain parameters (strategies), avoiding the fear, greed, lack of confidence and inconsistency which characterizes most traders.
An Expert Advisor has a plan. It sticks to it no matter what, no matter how ugly or uncertain the market looks. It has no greed and will be running 24 hours a day for you.
Select the best Metatrader 4 Expert Advisor for you. If you don't have the Metatrader4 platform already, you can download and install it free at http://www.metaquotes.net
DoublePlay v4.5 EA - Focus On Money Management
The new updated version (v4.5) of the DoublePlay EA is all about money management and has some excellent new features designed to increase profits and lower drawdown. Take a look:
- The new money management algorithm built into this EA manages position sizing to ensure that in the long run your account always remains on track and in the black.
- It can also decide lot size based on account balance. The number of lots you buy goes up/down as your balance goes up/down - minimizing downside risk & maximizing upside!
- The risk control variable let's you decide the level of risk you are willing to take.
- Ability to keep your StopLoss and TakeProfit levels hidden with the new "Invisible" StopLoss and TakeProfit levels.
- The multiple EA friendly ability allows you to operate on one account with other expert advisors.
===> View LIVE FORWARD TEST RESULTS** of DoublePlay 4.5
** Forward-testing is the act of running the expert advisor live but trading on a demo account. Forward testing is even more important than back-testing as it gives you a good feel of how the expert advisor trades and reacts in different (LIVE) market conditions. Forward-testing is KEY in your decision to purchase an expert advisor and in determining whether or not an expert advisor is reliable and profitable enough to trade with real money -- it's as close as you can get to seeing how it performs live.
Shark EA 4.0 Expert Advisor - Review
The Shark EA is back-tested to 1999 and since 2007, it has also been forward-tested on a "LIVE" account. (Hint here: Don't EVER buy an expert advisor without looking at how it performs LIVE - on a forward test).This is a low risk EA (1-3% per trade) expert advisor, with low drawdown and is a proven performer in any market condition.
The results speak for themselves: The Actual P/L on Live Account is +755% since January 2007.
And how is this for even more transparency...
...not only is this expert advisor forward tested but the guys at ForexEASystems are now allowing people to see a public account with 3rd party login. The Actual Profit/Loss since January 23, 2008: +57.90%. To receive the login data, send an email to the guys at ForexEASystems.
===> View a LIVE Forward Statement of Shark 4.0 Ultimate
===> View Test Results Since 1999 on 1% and 2% Risk Per Trade
Griffin EA 2.0 Expert Advisor - Review
The Griffin EA is a professional intra-day trading system executing 1-2 trades on an average trading day and has a win ratio of 89%. It is the sister EA to the Shark by Alex and the team at ForexEAsystems.The Actual P/L on Live Account is +129% since September 2007. As with the Shark, you can verify these results with 3rd party login.
Trade Logic:
The Griffin expert advisor uses higher time-frames to determine the actual market direction and lower time-frames to determine turning points. Every trade is secured by a fixed stop-loss (with the initial order). The recommended risk per trade is between 2%-4% of total equity.
NOTE: The amount of risk you decide to take as a % of your equity is fully adjustable. Click here to view the Live Forward Tests.
===> View Griffin EA Test Results Since 1999 on 1% and 2% Risk Per Trade
PointBreak EA Expert Advisor - Review
The PointBreak EA is a mathematical based expert advisor. This EA does not try to predict the trend direction, rather it goes with the trend. With Low, Medium and Aggressive settings, you can set the pace of your own investment growth.
The PointBreak expert advisor works like this: Small trades are continuously added above and below your opening position, and the system is smart enough to apply pyramiding, hedging or closing some positions depending on which way the market moves.
All trades are closed only when a net profit is reached and added to your account balance. This feature makes this EA truly unique. For example, some trades stay open that are in negative equity (drawdown) until price returns or continues the trend and starts making a profit.
# PointBreak EA: Performance:
Very Aggressive Settings, Account Balance: $54,609.76; up from $20,000 on Oct 01, 2007 (Profit 173.04%)
Very Conservative Settings, Account Balance: $30,873.43; up from $25,000 on Dec 04, 2007 (Profit 23.4%)
===> Get 3rd Party Login to the PointBreak EA Trading A/C
===> Download the PointBreak EA LIVE Account Reports (using REAL money)
K.I.S.S. Forex Expert Advisor - Review
- This fully automated Expert Advisor makes only 1 trade per day at the same exact time. It focuses on the GDP/USD pair.
- You get access to a private member's only forum which includes the current "best settings" for the EA (updated weekly)
- You also recieve a Step-by-Step Video Guide showing you exactly how to setup and use the Expert Advisor and run your own backtests.
- Plus a MS Excel spreadsheet with past performance and an interactive money management calculator and a winning money management system.
- Averages +176 pips per month. No losing month for over one year.
- Average returns of 5-25% per month
- 100% No Risk 58-day Money back Guarantee
Metatrader Expert Advisors - News Trading
Forex news trading Expert Advisors are a form of hedging expert advisors which attempt to set up two seperate and opposing positions and minimize the loss on one while maximizing profit on the other. The aim is to take advantage of the large price spikes during news time.
Below are reviews of 2 news trading MetaTrader expert advisors:
1. SimpleNews Expert Advisor
2. Condor Expert Advisor
SimpleNEWS v.02 Forex Expert Advisor
The unique thing about this news expert advisor is it does not require any time settings at all. The chart time frame does not matter with this EA and neither does the currency pair. All that matters is that a large price shift is caused by the news and this EA will catch the spike regardless of where it goes.It works on the basis of the typical News Straddle and you make money regardless if the price goes up or down. All the typical parameters are included: (StopLoss, TakeProfit, Breakeven, TrailingStop etc.)
Test drive this simple news expert advisor on demo and once confident trade SimpleNews v.02 EA on your live account.
Condor Expert Advisor - Review
The Condor EA is a High Performance News Expert Advisor. It opens 5 pending orders in each direction instead of just one.Take full advantage of those large spikes during news time. TakeProfit, StopLoss, TrailingStop and BreakEven are all fully adjustable.
Set all the charts up while EA's are disabled on the account, Each chart can accommodate its own individual settings. So if you want to have the Cable with a 30 pip StopLoss and the Swissie with a 20 pip StopLoss you can.
All the settings are adjustable for every chart. When the news is about to be released, one click enables all the charts and each one will open their pending orders at the next tic.
===> Learn More About this High Performance News Expert Advisor
Pipboxer v.02 - Breakout Expert Advisors
Review of Pipboxer Expert Advisors
The Pipboxer Team develops Metatrader Expert Advisors for almost every currency pair making them unique in comparison to other developers.PipBoxer v.02 is a breakout expert advisor with a twist. The strategy consists of 5 major steps to enter the trades correctly, manage them in the best way possible and exit them safely.
Those steps are:
1. Recognizing the box size.
2. Filtering out the false breakouts.
3. Taking risk management into account.
4. Entering and exiting trades.
5. Adopting money management techniques.
Backtested for 2 years, an initial deposit of $10,000 turned into $62,527 (GBP/USD pair). The other currency pairs expert advisors turned a significant profit as well.
Discover more about the Pipboxer trading strategy, including video's, analysis of every expert advisor, strategy tester reports, read reviews from independent traders and more here: ===> Pipboxer Trading Strategy
Learn more about each specific metatrader expert advisor, including past performance results here: ===> Pipboxer EA's
Make Your Own Mt4 Expert Advisor
Expert Advisor Programming
The expert advisor programmers at Pipboxer can develop and write Metatrader Expert Advisors based on your own settings.
For a fee of $199.00, (unfortunately the price went up recently) they can also incoroporate Money Management and Risk Management tools to your system and any other specifics of your trading strategy you may desire to automate.
With the purchase of your own custom expert advisor package (which is fully refundable), you are are also allowed 2 free upgrades.
Visit the Pipboxer Custom expert advisors page for more details.
How To Install Your Expert Advisor on Metatrader 4 (MT4)
When you run MT4 for the first time it will prompt you to open a demo trading account. Do so. It is free. In fact you can open as many free demos as you want over and over on the same instance of Metatrader without re installing the MT4 software by simply going to File > Open Account.
To automate MetaTrader 4, place your expert advisor EA file (usually a file ending in .EX4) in the "experts" folder while MetaTrader is not running. The experts folder of your MT4 installation is usually: C:\Program Files\MetaTrader 4\experts
Start MT4. You will notice the new EA in the navigator window on the left under "Expert Advisors". Drag and drop the icon of the EA to the chart you want to run it on. This will result in a pop-up box that will allow you to enter any external variables that may be needed on the "inputs" tab. Make sure you click on "Allow live trading" under the 'common' tab of that box so the EA will work.
Click OK. If you did everything right you will see a tiny smiling face at the top right hand corner of the chart with the name of the Expert Advisor program that you are running next to it. That's it! Your automated trading system is now up and running.
NOTE: If the little face is not smiling, (if it has a frown) it means you did not check the "allow live trading" check box when you attached it. To fix this simply left click anywhere on the chart, and select "expert advisors" from the drop down menu and then "properties" to get to the current EAs properties. Once there, on the common tab, click to allow live trading and click OK.
Forex Expert Advisors - Final Things To Consider...
Here are the things what to look for when selecting an Expert Advisor:
First of all, there is an important thing which you should consider in your trades, whether you are using an EA or your own manual system, and that is by having a diverse portfolio of different currencies, it can prove to be more beneficial and profitable because you are diversifying your risk across the different currency pairs as opposed to having all your money in one.
The old saying of don't put all your eggs in one basket certainly rings true, even when using expert advisors : spread your risk accross different pairs.
When choosing an expert advisor from a vendor site, look for:
- What is their technical support like?
- Is it a registered LLC company or have they copywrited their software?
- Do they provide live forward tests and real live forex trading statements?
- Do they have an About Us page and contact email/phone. Can you put a face to the name?
- Have they entered their expert advisors in the Automated Championship and put them up against live market conditions?
- Do they provide a forum so you can ask questions if you are a potential buyer or read posts/opinions from current users?
In one word - are they transparent.
Expert Advisor Forum
Got a question, opinion, rating or review on any of the above expert advisors? Or perhaps an expert advisor software not listed here?
Leave your comments here for others who are still unsure but curious to trade with an expert advisor.
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Be careful if buying E A's on ebay as some of them are not what they seem. I have been stung or conned into buying something that is not what it says it is but a renamed E A of a different name and results that more than dissapoint.
Go to the original source and buy to be sure that what you are buying is the genuine item and not some cheap fake.
Posted June 15, 2008
Max asked about the ForexAuto Pilot. I have had FAP on demo for 3 months and it has been very good. On a $5000 account it nearly doubles it every month on a 1 lot size. It targets 20pip target and its negative is that it runs with no stop loss. I have seen it trade and go into a $2000 loss but then recover and trade profitably. I also had an EA called Range Trader but it wouldnt make a profit for me so got a refund.
Posted June 08, 2008
I'm a newbie to Forex. I purchase a software EA, downloaded the MT4, attached the EA. (Using a Demo Acct) My Smiley Face appears in the right hand corner. However, I am not showing any trades. All my currency pairs are selected. What could be the solution to my problem.
Posted May 21, 2008
I currently own Shark EA and have back tested it. I tested with an initial deposit of $1000 and used 2 for the maximum risk setting. Very good results, very little draw down. The account grew to $3,500 in the 2 year period.
Posted May 20, 2008
watch out with DEMO statement that are a fake. they create the statement to make everything look nice, actually it is not the result of the EA
Back testing is ZERO performance, real DEMO account is much better to view the product
Posted May 12, 2008
This website is a very good initiative.
Congratulations
Posted May 04, 2008
Does anyone know of an EA that takes half your position off after 50pips in profit?
Posted April 22, 2008
Good Day,
I would like to know something regarding these expert advisors, in the past months I have looked at a lot of EA, but don't know which one to choose. At the moment i have the following that I am considering:
EA Shark
EA Griffin
FractalWizard Expert Advisor
PointBreak.
Please advise to which one will be best regarding performance etc.
Thanks for your help and good luck with the markets.
Posted April 20, 2008
Max, I bought 4xautopilot yesterday and am testing it now. It works on Eur/Usd in the 1 min time frame. Some of the settings can be modified.
No opinion on it as of yet.
Posted April 10, 2008
Is there anyone have test shark EA ultimate ? if so, Is this the best ea in the market ?
Posted March 28, 2008
Dear Friends,
I just purchased an EA (Rhino v.2) on ebay about 10 days ago, and set it up on 4-hour time-frame of different pairs (GBP/USD, EURO/USD, GBP/JPY). After 1 week of testing, I noticed that it worked best on GBP/JPY and rather good on EURO/USD, but losses on GBP/USD.
1 week is not long enough to say about the consistency of an EA on different pairs. I will keep you updated of any news or results one month later.
By the way, the EA of Kissfuture v1.3 (conservative one) work best of the 3 EA provided by Brad. I tested it for 3 months, and results are positive. About the Cherry-picker, I think creator/Brad should revise it a little bit so that I only jump into the market after a strong reversal (he uses SAR Method to wait for a retracement to minimize the big drawdown). But anyway, the Cherry-picker still bring rather good profits, but in case of loss, it also made big losses, too. About the EA V1.4 Daily, it seems that this EA can cause huge drawdown. So, I am not keen
Posted March 23, 2008
I totally agree, Conquest is a SCAM! STAY AWAY from it! I lost my profit PLUS my initial deposit!!
Posted March 22, 2008
Demo tests on Rhino v2 is surprisingly positive
Never a fan of black box systems, not knowing what is inside and what variables will do to actual prices....but Rhino so far has made some pips.......
Posted March 07, 2008
There is a new auto trader around called ForexAutopilot. Anybody know anything about it?
Posted February 19, 2008
Test out DoublePlay on the GBP/JPY H1 with TakeProfit=100 StopLoss=100 TrailingStop=130 BE=130. Also try the same settings with a 150 TakeProfit. Good results!
Posted February 18, 2008
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Avoid the fear, greed, lack of confidence and inconsistancy which characterizes the majority of traders: Expert Advisors
moreWhat's here
- Why Trade With Expert Advisors?
- Forex Expert Advisor Software - The Benefits
- DoublePlay v4.5 EA - Focus On Money Management
- Shark EA 4.0 Expert Advisor - Review
- Griffin EA 2.0 Expert Advisor - Review
- More...
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