In the foreign exchange market, there are limitless opportunities to bring a ton of money. Two of the most important criteria for making the biggest money are better money management techniques and discipline.
If you want to make money like some of the best foreign exchange traders, you cannot give in to your feelings and you should always stick to your trading plan.
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Buying a high-quality Forex EA will help you immensely, especially if you are a beginner. It is not easy to avoid junk and scams on the internet, so here are some tips to find the best forex advisor:
1. Is there real proof that the EA makes money?
The merchant must give you proof that their EA makes money in live accounts. You have to be on the lookout for live tests conducted on real money accounts in real market conditions. By having positive results in the real world, it not only lets you know that EA is profitable, but gains your confidence in knowing that it is built on sound principles.
2. Can you contact the merchant?
Point blank: If the company does not provide any contact information, stay away from them. For companies that provide contact information, it will not hurt to give a call and inquire about the product. Ask a specific question and see if they try to help you. If they give you their sales pitch, they are probably not legitimate.
3. Is it customizable?
A learning curve is included with any EA. You need to tweak it to fit your personal trading strategy. Never buy something that cannot be customized to your liking.
4. Do they offer sales/customer support?
If you ever experience technical issues with your expert advisor, it is reassuring to know that there will be someone who can help you in a timely and efficient manner.