What is Expert Advisor?
Expert Advisors is a mechanical trade system (MTS) linked up to a certain plot. The Advisor can not only inform you about a possibility to strike bargains, but also can make deals on the trade account automatically and direct them right to the trade server. Like most trade systems, the MetaTrader 4 terminal supports testing strategies on historical data with displaying on the chart the spots where trades come in and out.


Why Use Expert Advisor?
Why do 90% of forex traders lose?
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 Dragonpips Expert Advisor


How To Install Expert Advisor on Metatrader (MT4)
Download and install MetaTrader 4 (Free download at http://www.metaquotes.net/)

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.