How to Trade With Oil Trading Signals & Expert Advisors
Apart from coming up with crude oil trading signals, traders can also decide that they want to trade with oil trade signals or Expert Advisors. These 2 techniques are very popular when it comes to trading the online crude oil market. Oil traders who want to trade with these techniques might spend a lot of time researching which is the best Expert Advisor or Oil Trading Signal - instead when it comes to Expert Advisor Oil Trading Bots there is a library of Expert Advisor Oil Robots that traders can find on the MQL5 forum & when it comes to signals there is a list of the top oil trading signal providers made up of profitable traders who trade using MT4 crude oil platform that provide oil signals which traders can subscribe to & trade with.
Trading Signals
Traders can trade using oil trading signals - instead of generating trading signals of their own using oil systems traders can subscribe oil signals from other profitable traders & copy the trading of these trading signal providers. Trading using oil trading signals is sometimes also known as copy trading.
A oil signal service such as the MQL5 signal service is setup by the owners of MT4 crude oil trading platform. Profitable traders can then setup their signal service and other traders can then subscribe to these signals from the MQL5 signal service directly from MT4 crude oil 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 the signal provider closes them & on the trader’s account the trades will also be automatically closed.
To learn more about oil signals traders can read the article - MQL5 oil trading signals. These oil signals are provided by profitable traders who trade the crude oil market using their own accounts with money invested in their account and this traders have passed a month trading period to prove their oil trading strategy is profitable after which these traders have then become signal providers.
Crude Oil Expert Advisors
Automated oil trading strategies in oil trading are known as Expert Advisors or EA or Oil Trading Robots. These robots are used by crude oil traders to generate automated trading signals that will open buy & sell crude oil 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 oil trade. EA also has another set of parameters which will be used to calculate where to close a trade.
The best place to begin for those who want to learn how to program & come up with their own Expert Advisor Oil Robots MQL5 forum of Expert Advisor programmers is the best place to start. This forum also has a library of many crude oil trading EAs that traders can download - some are free & some are for sale. Those which are for sale can be tested out by traders using their demo version which can be tested in the MetaTrader 4 strategy tester environment, this way a trader can test an Expert Advisor to determine how it performs in crude oil market before buying the EA.
To learn more about Expert Advisor Oil Bots, traders can read our tutorial - MQL5 Oil Trading Expert Advisors Library.
