An EA, otherwise known as Expert Advisor, is a software script where the traders can speculate the markets at ease.
The ability to place orders without human interaction is an indication that the technological advancements are indeed playing a vital role in today’s day-to-day operations and tasks.
An EA requires research and creativity
To create, though, a valid strategy and apply it to a software script involves a lot of research, homework, and creativity.
Usually, nowadays, the majority of the traders either purchase ready-made robots or choose via various online sites or forums the best developer who is to convert this idea, methodology or strategy into a trading machine.
Therefore, before deciding to create your Expert Advisor, take into consideration the following parameters:
Choose two or three indicators, including price action if needed, before sending it to the developer or doing it yourself
Always have an exit plan, such as stop loss and take profit (in pips, or else depending on your needs and requirements)
Foresee your expected profitability from a long-term point of view once your EA is up and running
The U.S. dollar captures the attention of the majority of the traders and the investors, before and after the Presidential Election where Donald Trump and Hillary Clinton will be clashing.
What could the outcome be on the dollar, bullish or bearish?
Will the buyers overtake the sellers or can the vice versa condition take place?
In the scenario where Donald Trump gets elected, will the markets perceive it as a positive outcome, thus boosting the U.S. currency to the upside, or will it lead to an aggressive collapse of the greenback?
On the other hand, Hillary Clinton seems to have greater chances of getting elected as the next U.S. president. Will this result be viewed with optimism by the nation’s citizens, leading to a stronger dollar, or will it be a continuation to the U.S.’s economy weakness and slow expansion?
Persistence is the outcome of discipline and patience to one’s target or goal, especially during difficult times where it seems that there is no hope.
The ability to resume stronger every time an obstacle arises is an art. Only a small number of people make it to the top, thus surpassing difficulties without losing enthusiasm.
Persistence sums up to patience and discipline
By being able to persist, you can resist to your fears, obstacles, and difficulties.
The majority fails to keep on going during hard times, where such difficult situations differentiate those who are successful from the rest.The people who have succeeded, never gave up as they were challenging themselves when in deep trouble, both financially and personally.
Are you able to maintain your discipline, focus, motivation, and innovation without breaking apart?