The Very Best Expert Advisors Ever

The best expert advisors... your really do want that right? You should.
If you don't know what you're dealing with, finding the very best EAs of their kind is a difficult task, especially if they're all based on different platforms... like on is a Mt4 Expert Advisor and then some other Forex EA is something else......bah, simply, it just gets confusing...

So what makes the difference between all of the different EAs and what separates one Forex Expert Advisor from the rest? What separates the best from the rest? (oh my god it rhymes!)
Well as I already said, they can be based on different platforms for example, and the most popular as of now would be the MetaTrader 4. But also different things like what currency pairs they're working on, whether it's USD/JPY pair, or EUR/USD or whatever.

What do you actually choose then? The high end $10,000 expert advisor, or the cheaper one for $150? Is the expensive EA worth all the money, or does the cheaper one handle the job just as well?As you can see, there's a whole lot of questions people ask themselves when it comes to picking a good EA.

The simplest question of all then... "Which one do I pick?" - that seems to be the most common one, and it's a good one too.

Me and my team have done a whole lot of research and we've concluded that the Expert Advisors that are based on the Mt4 platform are the best ones... but after that it gets a bit tougher. However we believe we have got it nailed down this time, and finally, we picked some rather unknown Forex EA as our top pick.

It's called Forex Funnel.

Forex Funnel? - Yep. You can find out all about it, and the rest of our recommended choices, the ones we chose after reviewing dozens of them...

Right here: Best Expert Advisors

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Forex Trading Education - Risk Management 101

Many retail traders focus so much on trying to make money off the market that they often neglect to protect their capital. This causes them to ultimately wipe out their trading accounts no matter how good their 'money-making' strategy is.

You see, there are two aspects to profitable trading: increasing your gains, and reducing your losses. Unfortunately the former is the only thing most traders pay attention to. Protecting one's losses is not as sexy or exciting as making money; and so many amateur traders make the crucial mistake of having a weak money management system in place.

How Much To Risk

When planning out your money management strategy, the first thing you'll need to decide is how much of your capital you are willing to risk per trade. Experts generally recommend that you risk no more than 2% of your total equity.

An Example

When trading with standard lots, each pip is worth approximately $10.

So let's say you start trading with $10,000. 2% of $10,000 is $200. That means that you should risk no more than $200 (or 2% of your capital) per trade. And since each pip is worth $10, you can risk a maximum of 20 pips ($200/$10) for each trade that you take. Essentially, this means that you should have a stop-loss of no more than 20 pips away from your entry price.

Does this make sense?

Adjustments Needed

Of course, a 20 pip stop-loss level might be considered too tight for many traders. In reality, it's up to you to play around with the variables of your money management system. For scalpers for example, a 20 pip stop-loss level might even be too high!

It all boils down to your overall trading strategy... a swing trader will definitely want to use a higher stop-loss allowance, and he can do so by either increasing his equity capital, or by trading using mini lots instead.

The bottom line however, is to never violate the 2%-capital-risk-per-trade rule.

To learn more, download my free 26-page guide here: Forex Trading Traps!

Harold Hsu is the owner of ForexSystemProfits.com where he provides premium Forex trading information and resources.

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