How to Trade with Gold Signals & Expert-Advisors
Apart from coming up with xauusd trading signals, traders can also decide that they want to trade with gold signals or Expert Advisors. These two methods are very popular when it comes to trading the online gold market. Gold traders who want to trade with these techniques may spend a lot of time researching which is the best Expert Advisor or Gold Trading Signal - instead when it comes to EA Gold Bots there is a library of EA Gold Trading Bots that traders can find on the MQL5 forum and when it comes to signals there is a list of the top gold trading signal providers made up of profitable traders who trade using MT4 platform that provide gold trading signals which traders can subscribe to & trade with.
Trading Signals
Traders can trade using gold signals - instead of generating trading signals of their own using gold trading systems traders can subscribe gold trading signals from other profitable traders & copy the trading of these trading signal providers. Trading using gold signals is sometimes also called copy trading.
A gold signal service such as the MQL5 copy trading signal service is setup by owners of MT4 platform. Profitable traders can then setup their signal service & other traders can then subscribe to these signals from the MQL5 signal service directly from their MetaTrader 4 trading platform.
Once signal providers generate a trading signal the trade is then automatically copied & sent to the trader’s account & similar trades are also opened on the trader’s account. These trades will remain open until when signal provider closes them and on gold trader’s account the trades will also be automatically closed.
To learn more about gold trading signals traders can read the tutorial - MQL5 gold trading signals. These gold trading signals are provided by profitable traders who trade the xauusd market using their own accounts with money invested in their trading account & this traders have passed a month trading period to prove their gold strategy is profitable after which these traders have then become signal providers.
XAUUSD EAs
Automated gold trading strategies in gold trading are known as Expert-Advisors or EA or Gold Robots. These bots are used by traders to generate automated trading signals that will open buy and sell xauusd trades on behalf of the trader based on the set trading parameters.
When these sets of parameters are met the Expert Advisor will then open a xauusd trade. The trading Expert-Advisor also has another set of parameters which will be used to calculate where to close a trade.
The best place to start for those who want to learn how to program & come up with their own EA Gold Trading Bots MQL5 forum of EA programmers is the best place to start. This forum also has a library of many xauusd trading Expert Advisors that traders can download - some are free and some are for sale. Those which are for sale can be tested out by traders using their demo version which can be tested on the MT4 strategy tester environment, this way a trader can test an Expert Advisor to ascertain how it performs in the xauusd market before buying the Expert-Advisor.
To learn more about EA Gold Trading Robots, traders can read our tutorial - MQL5 Gold Expert Advisors Library.
