Magic number Forex - The Expert Advisors
Magic number Forex stands for the magic number that the trade uses for his Expert Advisors.
This is a free lecture from the course Top 10 USDJPY Expert Advisors: Algorithmic day trading from EA Forex Academy.
If you are interested to enroll in the complete course, please click on the link: https://eaforexacademy.com/courses/top-10-usdjpy-expert-advisors-algorithmic-day-trading/
The Magic number Forex is used when the trader places the EAs over the trading chart. This is an unique number for each strategy. This Magic number Forex is very useful when we trade many Expert Advisors in one account.
It helps the trader to identify the opened trade, so the trader would know which strategy or Expert Advisors executed the trades. In this course you will see demonstration with 10 Expert Advisors which is relatively small number of strategies trading in one and the same account. In some courses from EA Forex Academy, you will 99 Expert Advisors trading simultaneously. With the the Magic number Forex it would be impossible to recognize the strategies.
Now the Magic number Forex is useful as well when we connect the trading account with a statistical website as FX Blue(it is demonstrated in the course). Once connected to such a website, the trade has a great view of all statistics for all Expert Advisors. THe Magic number Forex identifies which is the connected Expert Advisor and shows precise stats.
The third moment when the Forex Magic number is very useful is when the trader closes the Meta Trader account. Once reconnected the Magic number Forex helps the Expert Advisors to recognize the opened trades and they continue to manage these positions.
The Top 10 USDJPY Expert Advisors course will teach you how to create your own Expert Advisors without programming skills. It will give you the possibility to automate your trading and in the same time to practice with 10 EAs for USDJPY.
For more algorithmic trading courses, you can look at our algorithmic trading courses: https://eaforexacademy.com/tracks/algorithmic-trading/
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