Most forex traders fail because they fall prey to the human emotions of fear and greed. However, trading with an Expert Advisor removes these emotions so that trading can be executed on a purely logical basis.

Under the influence of greed or fear, traders will frequently either stay in a trade in order to grab extra profit when the trade should be closed, or exit a trade prematurely and lose out on profit. The beauty part of trading with an Expert Advisor is that it trades with a plan - not emotion - and does so 24 hours a day during market hours.

The Expert Advisor watches the market for you and will execute trades based upon predefined parameters. Unlike a human, it is also capable of monitoring indicators, support and resistance levels, and many other factors in multiple timeframes and making immediate decisions.

There are many Expert Advisors on the market today, and the prices run from OK to ouch. One must be sure to do some research and get answers to questions such as; are they timeframe or currency specific? Do they follow trends or attempt to predict them? How do they handle risk management? Do they recommend a 2-4% risk or something lower, such as 1-3%? Do they support stop losses? How do they handle take profit levels? Do they ride downturns and only exit trades once they're in profit?

There are many questions to be researched and answers to be considered before buying an Expert Advisor. It's also important to be sure the EA will run on your trading platform, that you can run multiple EA's on one account, and that it can be used with a mini account, if that is your account type.

One more thing you should consider before installing an EA on your trading platform. Remember that when using an EA, it controls your trades. If you have a power failure and your computer shuts down, you have an unmonitored open trade. Once a trade is placed, it's in the hands of your broker; the trading signals from your EA are on your computer.

If you're in an area that has frequent power failures, you might want to look into opening a VPS (virtual private server) account. If you run your trading platform on a virtual desktop, you don't have to worry about power outages or crashing computers. Your trading platform will continue to run wtihout you, and it can be accessed from any location.

Expert Advisors are definitely helpful tools. Do your homework and conduct some in-depth research before making your purchase and your experience should be a good one.