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06-20-2008, 06:01 PM
An EA is an expert advisor. It executes trades for you automatically. Different EAs have different parameters you can adjust.
Do not trade an EA on a live account unless you have some understanding of it's performance over time and how it handles risk management.
Always forward test an EA on a demo account, but realize that demo accounts will have far less slippage and requotes. If it shows consistent profit on a demo account, then you can consider testing it on a live account after you lock down the parameters to force it to trade with the smallest amounts of money possible. Even then, watch it like a hawk and be ready to shut it down if something goes wrong.
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