FXPROMaker 1.47 - Day Trade Forex System
Contents
1. Ok I hope this is understandable This is basic FKPROMAKER model of trading with settings TP 30 Step1 10 30 and TP1 10 30 But we went further and decided to let you to customize EA in different ways according to your own trading ambitions experience risk and money management and even favorite trading pair Let s look at each setting in details Lots 0 1 default Gi eel era a Ure L This is lot size amount for the first 2 trades BUY and SELL This value cannot be constant due to hedging nature of strategy so EA will double trades starting from this value 0 1 0 2 0 4 1 28 TakeProfit 30 default 30 This is Take Profit of first 2 trades BUY and SELL TP 30 pips es buy 0 1 EA is enabled Now DON T mix up TakeProfit and STEP1 value TakeProfit is Take Profit level of 2 first opposite trades BUY and SELL STEP1 is next hedging step See the example we place TakeProfit 30 and STEP1 40 EA opens 2 trades BUY and SELL with TP 30 and places 2 hedging orders 0 2 lots 40 pips away from this starting point STEP1 40 oat 1 a fy See ra hrs ea oe 9 hai M o h peen e en aee eee gt 5 5 2 2 2 12 103 25 103 05 raxeProns Da fpcects iai a L m L u e e l o M oi Mi Si a 2717564 bury lirit O oe ee aA aS eS eee ea Ss aS 102 85 102 65 A o 2 19 May 2008 20 May 03 00 20 May 12. We recommend to trade with brokers who allow micro lots in their trading There are some FXDD http fxdd com Trade View Forex http www tradeviewforex com IBFX http www interbankfx com FX Clearing http www fxclearing ca FXCast http fxcast com E Global Trade http www eglobal forex com Trading Platform Meta Trader 4 Special versions of FXPROMAKER for special brokers Some brokers do not let you set SL and TP in trade opening You need to open trade and then modify it with wanted SL and TP For such brokers you need to switch Brokers Modes Some brokers give minimum 10 pips as Limit amp Stop level So scalping method 5 pips as TP will not be possible with them Leverage We recommend using 1 200 or 1 400 Live compilation Your license means 1 live compilation for 1 account Some brokers like IBFX separate accounts into MINI and STANDARD In such cases if you will move from MINI to STANDARD we will compile EA for free for new account with the same broker Your mini account will be replaces with new one If you will change broker you will have to pay for another license Any other situations like brokers violations against EAs etc will be reviewed in special order and all help and support will be provided We provide only ONE switching for your account in mentioned cases Disclaimer Forex is a high risky market There is no system or person who can guarantee your success You implement th
3. 30 EA closed the hedging cycle in profit Let s count it Let s say 1 pip equals to 1 Excluding spread we have SELL 0 1 closed in loss of 90 pips SELL 0 2 closed in loss of 60 pips SELL 0 4 closed in loss of 30 pips SELL 0 8 closed at 0 pips 0 SELL 1 6 closed in profit of 30 pips 480 30 pips X 1 6 lots 90 120 60 pips X 0 2 lots 120 30 pips X 0 4 lots TOTAL 150 of profit remark do not forget that in this situation EA will add BUY positions also so with buy orders closed totally we will have 240 from one hedging cycle Now what if in the same market situation we set STEP 1 to 10 30 pips and TP 1 to 10 40 pips See the picture below USDIPY M30 103 37 103 37 103 27 103 32 105 15 105 05 104 95 104 85 SELL 3 2 104 75 1 104 65 104 55 j SELL 1 6 sre l i i 104 35 l 104 25 Hf i SELLO 8 an L 7 104 05 103 95 SELL 0 4 ais l 103 75 os i 1 SELL 0 2 ma 103 45 103 35 103 32 103 25 WM 103 15 nica W Hi 102 85 i Fi 102 75 ra 05 2008 at 13 00 102 65 FXDD MetaTr k 2001 2008 MetaQuotes Software Corpi EA i is enabled 16 May 2008 16 May 20 30 19 May 05 30 19 May 13 30 19 May 21 30 20 May 05 30 20 May 13 30 20 May 21 30 21 May 05 30 21 May 13 30 21 May 21 30 22 May 05 30 22 May 13 30 22 May 21 30 23 May 05 30 23 May 13 30 In this situa
4. Interbank FX Trader 4 B Accounts E Indicator CHOOSE Allow live trading Delete Insert Set hotkey Online library Common Inputs Common Safety Long amp Shot jae positions L Allow DLL imports lW Enable alerts e Confirm DOLL function calls Ce e sled ance ut a Allow import of external experts __ Ask manual cophimation Common Inputs Variable ee hea TP haa Step2 aa Customize EA in your way OR leave default settings Make sure you enabled EXPERT ADVISORS button Smile in right corner of a chart is indicated that EA is enabled Disclaimer Forex is a high risky market There is no system or person who can guarantee your success You implement the methods introduced in this manual and or use FxProMaker at your own discretion The author owner of this manual and or FxProMaker will not be held responsible for your losses of any kind included but not limited to the program s malfunction ae a ry ane www fxpromaker com These are default EA settings Common Inputs Common Inputs Variable 23 TakeProfit 23 StopLoss ZJ ConstantStop 23 Step fe TPT e Step2 ea TP2 led Steo3 a Common Inputs Variable had TP hed Step8 ea TPS 123 Step9 ea TPS hed Ste
5. You are responsible to make sure our correspondence with you is not filtered out by your email server spam detectors We are not responsible for delays caused by such problems Our main method of customer service is through email If you would like to receive quicker responses to your requests questions and concerns we strongly recommend the use of emails Our product FxProMaker EA is installed on MetaTrader 4 platform We expect our customers to have basic knowledge of MetaTrader 4 MT4 and be able to install and use these programs We do not accept any claims do to the inability in installing the products We expect that you have basic knowledge of computer operating system and software programs We cannot be held responsible for any damages that are caused due to the customer s lack of knowledge in the area of using computers We are not held responsible for any problems caused by using our products or referring to our documents and websites Customer s discretion is advised For more information refer to the Disclaimer section All sales are final There is no refund policy For more information refer to the Refund Policy section We might add special terms and conditions to some of our products and offers Please refer to the product description for more information Such terms and conditions are valid for the specific product The general terms and conditions stay valid for such products If there is a conflict the special conditio
6. StopLoss 0O TP5 31 StartHour 0 ConstantStop false Step6 28 EndHour 24 Step1 28 TP6 31 Magic 111 TP1 31 Step7 28 CloseAllNow false Step2 28 TP7 31 UseMACD false TP2 31 Step8 28 BrokerMode 1 Step3 28 TP8 31 MM_advisor false TP3 31 Step9 28 FriClosetime 10 Step4 28 TP9 31 TP4 31 Step10 28 2 Scalping style We find good currency for this style EUR GBP But you need to run EA during Asia session only Most times price moves in 25 30 pips corridor for these pairs during Asia Use following settings TakeProfit 5 Step5 10 TP10 30 StopLoss 120 or more TP5 10 StartHour 21 ConstantStop true Step6 15 EndHour 2 Step1 5 TP6 15 Magic 111 TP1i 5 Step7 20 CloseAlINow false Step2 5 TP7 20 UseMACD false TP2 5 Step8 20 BrokerMode 1 Step3 5 TP8 20 MM_advisor false TP3 5 Step9 30 FriClosetime 10 Step4 10 TP9 30 TP4 10 Step10 30 GMT This theory is under testing right now but some clients already reported about amazing results We ll keep you updated on our findings 3 CHF JPY trading Max daily move for this currency is about 120 150 pips so we test it with DIFFERENCE in STEPS and TPs Difference is 10 pips See settings TakeProfit 30 Step5 20 TP10 30 StopLoss 210 TP5 30 StartHour 0 ConstantStop true Step6 20 EndHour 24 Step1 20 TP6 30 Magic 111 TP1 30 Step7 20 CloseAlINow false Step2 20 TP7 30 UseMACD false TP2 30 Step8 20 BrokerMode 1 Step3 20 TP8 30 MM_advisor fal
7. Magic Number 222 Common Inputs variable 423 StartHour 0 423 EndHour 24 fF Magic 222 ZA CloseAlINow false 74 UseMACD false 423 BrokerMode 1 74 MM_advisor false 23 FridayCloseTime 10 Now when EA will open trades we can see Order Time Type Size Symbol Price Sirk T P Price Commission Swap Profit Comment a 3222348 2008 04 08 13 50 buy 0 10 usdjpy 102 30 0 00 102 60 102 28 0 00 0 00 2 Magic 111 F 3222350 2008 04 08 13 50 sell 0 10 usdjpy 102 28 0 00 101 98 102 30 0 00 0 00 2 Magic 111 3 3222373 2008 04 08 13 50 buy 0 10 usdipy 102 31 0 00 102 61 102 28 0 00 0 00 3 Magic 222 F 3222374 2008 04 08 13 50 sell 0 10 usdipy 102 29 0 00 101 99 102 30 0 00 0 00 1 Magic 222 Balance 887 07 Equity 879 24 Margin 200 00 Free margin 679 24 Margin level 439 62 7 83 F 3222351 2008 04 08 13 50 buy limit 0 20 usdjpy 102 00 0 00 102 30 102 30 Magic 111 3 3222353 2008 04 08 13 50 sell limit 0 20 usdipy 102 58 0 00 102 28 102 28 Magic 111 F 3222378 2008 04 08 13 50 buy limit 0 20 usdjpy 102 01 0 00 102 31 102 30 Magic 222 F 3222379 2008 04 08 13 50 sell limit 0 20 usdipy 102 59 0 00 102 29 102 28 Magic 222 FXPROMAKER will monitor 2 charts SEPARATELY from each other Some our customers use different cycles for FXPROMAKER trading They split let s say 0 1 lot into 2 charts of 0 05 and let one chart trade let s say at 8 GMT and let the other chart trade at 15 GMT or something lik
8. 1 00 20 May 19 00 21 May 03 00 21 May 11 00 21 May 13 00 22 May 03 00 za May 11 00 22 ae 15 00 23 May 03 00 23 May 11 00 US0IP Man Time Type Size Symbol Price rus 5 7 L TIP if Price Commission Swap Profit 08 05 23 18 20 buy 0 10 usdipy 103 29 100 29 103 594 103 17 0 00 0 00 12 08 05 23 18 20 sell 0 10 usdjpy 103 26 106 2 102 96 103 20 0 00 0 00 z nargin 9 381 43 5 82 08 05 73 16 20 buy limit 0 20 usdipy 102 89 100 29 103 29 103 20 08 05 23 16 20 sell limit 0 20 usdipy 103 66 106 26 103 26 103 17 Here is the second example let s say you want to scalp and set TakeProfit 10 and STEP1 30 Let s graphically see what we will have with these settings Te cere meaner tO eye oy a oat wo M Poy Ah PEO To ee Po eee eee M oe eee 102 50 TakeProfit 10 Step1 30 102 65 2008 20 May 03 30 20 May 11 30 20 May 19 30 21 May 03 30 21 May 11 30 21 May 19 30 22 May 03 30 22 May 11 30 22 May 19 30 23 May 03 30 23 May 11 30 USDIP M30 Time Type Size Symbol Price SIL TIP Price Commission Swap Profit 23 18 50 buy 0 10 usdipy 103 29 100 29 103 359 103 19 0 00 0 00 10 2a 18 50 sell 0 10 usdipy 103 26 106 26 103 16 103 22 0 00 0 00 4 9 375 63 5 81 Pa LES buy limit 0 20 usdjpy 102 99 100 29 103 29 103 22 23 16 50 sell lirnit 0 20 usdipy 103 56 106 26 103 26 103 19 StopLoss 0 default ConstantStop false default These are really import
9. FXPROMaker 1 47 User s Manual Attaching EA to a chart EA settings Lots 0 1 default TakeProfit 30 default StopLoss O default ConstantStop false default Step1 30 default TP1 30 default StartHour O0 default EndHour 24 deafult Magic 111 default CloseAllNow false default UseMACD false default BrokerMode 1 default MM_advisor false default e FridayCloseTime 10 default Strategy and Money Management Basic strategy e Scalping style e CHF JPY trading e GBP JPY and EUR JPY trading Brokers Troubleshooting Common mistakes in FXPROMaker Trading THAT definitely WILL KILL YOUR DEPOSIT Terms and Conditions Risk Disclosure You receive FXPROMAKER EA as one file with ex4 extension You do not need to run it or click it Just copy this file to experts folder of your Meta Trader C Program Files MetaTrader 4 experts Then you need to start or restart your Meta Trader platform To let FXPROMAKER EA trade on your account you need to add EA to a chart of a chosen pair customize EA and enable EXPERT ADVISORS trading in your platform options Here is detailed description of these steps Symbol CLICK Right mouse button on FxProMaker in 4 USDCHF 1 1278 1 1282 GBPLISD 2 0464 2 0468 NAVIGATOR tab and click Attach to a chart EURUSD 1 4713 1 4715 AUDUSD 0 8852 USDCAD 1 0068 1 0073 EURGBP 0 7186 0 7191 Symbols
10. a high risky market There is no system or person who can guarantee your success You implement the methods introduced in this manual and or use FxProMaker at your own discretion The author owner of this manual and or FxProMaker will not be held responsible for your losses of any kind included but not limited to the program s malfunction EEEE ITE www fxpromaker com Due to many variants of settings we still trade USD JPY only with basic default settings Steps 30 and TPs 30 on our live accounts Due to hedging nature of trading EA can damage your account if you will not use proper Money Management We strongly recommend trading USD JPY with 5000 for 0 01 lots We cannot guarantee same performance on another trading pair Please trade USD JPY only Guys please this is not money making machine though sometimes it may seem so Our clients trade all USD pairs but again we d like to advise to use at least 5000 6000 for 0 01 for each trading pair you use If you want to set more than 0 01 lots you need to use ConstantStop set for limiting your risk EA is very flexible and we keep testing new ideas and will definitely update you on our findings Ok beside basic strategy we see 4 perspectives strategies for EA trading 1 Small Steps Tp difference When EA keeps hedging positions on big levels even 1 pip difference can give some good income Here are settings that we use on some EA accounts TakeProfit 28 Step5 28 TP10 31
11. allow opening trades with set TP and SL If for some reason EA does not open any trades after ticks try manually opening any trade with already set TP and SL If this will not be possible it means your broker allow you open market trade and only then modify it with needed TP and SL In this case you need to set BrokerMode to 2 BrokerMode 3 For brokers who uses non standard names for symbols like USD JPYFXF USD JPYM etc If your broker uses such symbols switch BrokerMode to 3 With this mode EA also will open first 2 trades without set SL and TP and after 2 tick will modify orders BrokersMode 2 MM_advisor false default This feature is for dummies and greedy ones If you cannot get the idea of Money Management we recommend for our EA just enable this feature and it will not let you trade in aggressive risky style Remember money management is the KEY to hedging systems FridayCloseTime 10 default This feature closes hedging after its set time on Friday After Friday 10 00 of your broker s time EA will not open new hedging cycle EA will finish current cycle and stop trading Please mention that 10 00 does not mean that EA will close all trades and orders at 10 00 EA has to close hedging cycle only in profit and this may take some time according market behavior On the market opening EA automatically starts its trading after first tick Perfect conditions for those who run EA 24 7 on VPS Disclaimer Forex is
12. ant settings so you need to understand them because they deal with your risk management and protect account from margin call So if ConstantStop false it means that EA will set StopLoss to each hedged order according to set value Example you set StopLoss 100 and ConstantStop false EA opens trades 0 1 with SL 100 0 2 with SL 100 0 4 with SL 100 0 8 with SL 100 3 2 with SL 100 Now if you set ConstantStop true it means that EA will set the same SL to all hedging orders in future according to amount of pips set StopLoss level for 1 order Confusing Let s check the example Let s say you want EA to close all positions after 200 pips of currency movement You set StopLoss 200 ConstantStop true EA opens 2 trades at 1 400 BUY 0 1 with SL at 1 200 and SELL 0 1 with SL at 1 600 Currency goes up and EA keeps hedging SELL position SELL 0 2 SELL 0 4 SELL 0 8 but SL on these hedged positions will be the same It is calculated from first trade 1 400 200 pips 1 600 Sell 0 1 with SL at 1 600 Sell 0 2 with SL at 1 600 Sell 0 4 with SL at 1 600 Sell 0 8 with SL at 1 600 We add this feature to control your acceptable losses however we do not use SL at all due to hedging style of EA If you start with small recommended lotsizes there is nothing to worry about Step1 30 default TP1 30 default When you enable FXPROMAKER after first tick price changing EA opens 2 opposite trades an
13. d after set amount of pips EA places doubled trades as pending orders This amount of pips between first trade and next doubled trade is called HEDGING STEP These settings Step1 Stepi10 and TP1 TP10 give us opportunity to customize hedging steps according to our trading style Look at some graphical examples to understand how it works Here are default settings when all steps 30 pips and all TP for these steps 30 pips SELL 3 2 SELL 1 6 SELL 0 8 SELL 0 4 SELL 0 2 EA is enabled Here is graphical example of settings STEP1 30 STEP2 35 STEP3 40 STEP4 45 SELL 1 6 STEP4 45 pips SELL 0 8 STEP3 40 pips SELL 0 4 STEP2 35 pips SELL 0 2 STEP1 30 pips EA is enabled Each hedging STEP has its own TakeProfit TP setting TakeProfit for STEP1 is TP1 for STEP2 is TP2 and so on ny If EA triggers all 10 steps then for Step 11 12 13 20 EA will set the same settings that you put to your last STEP10 and TP10 value We d like to show you how the difference between STEP and TP value can increase your income from one hedging cycle Firstly look at default settings STEPs 30 and TPs 30 and its income yellow line shows us price movement and closing all hedging cycle SELL 3 2 SELL 1 6 IRR SELL 0 4 To H yi Hy IN SELL 0 2 EA is enabled There is standard market situation when we hedged SELL trades each 30 pips STEP 30 and after 30 pips recap TP
14. e methods introduced in this manual and or use FxProMaker at your own discretion The author owner of this manual and or FxProMaker will not be held responsible for your losses of any kind included but not limited to the program s malfunction ETE EE www fxpromaker com EXPERTS ADVISORS are enabled live trading is allowed without any confirmation I can see smiling face at the up right corner of active chart but FXPROMAKER does not open any trades why Possible reason 1 Lot Size If you set 0 01 or 0 05 lots in settings but your broker allows ONLY 0 1 EA will not open any trades Some brokers allow you to start with 0 2 only in this case EA will not open any trades cause its default lotsize is 0 1 Possible reason 2 Limit amp Stop level If you set 5 pips as TP somewhere in EA settings and your brokers Limit amp Stop level is 10 pips EA will not open any trades Possible reason 3 Fractional s Some brokers give 6 digits in quotes fractional spreads With such brokers EA will not work with its defaults What you need to do is CHANGE settings and add 0 into every setting line Example TP 300 Step 300 SL 4000 etc Possible reason 4 Market Instant execution Some brokers do not allow open trades with set TP and SL You need to open trade and then modify it with needed SL and TP To check this just try manually opening a trade with already set TP and SL If broker will not allo
15. e that We do not use this scheme on our accounts CloseAlINow false default This is emergency feature that helps you to CLOSE ALL open trades and DELETE all pending orders If for some reason you decided to stop trading EA and you want to leave market fast just make these 3 easy steps 1 Click right button on a chart and choose Expert Advisors Properties OR simply click F7 2 Got to CloseAll set and choose TRUE 3 Click OK On the next tick EA will start closing and deleting all trades and orders To start trading again do the same but set CloseAll false and click OK IMPORTANT NOTICE if you leave the market right in the middle of hedging cycle this will decrease your profit or lead to loss We recommend running EA 24 hrs a day or using Time Schedule settings to close cycles in profit UseMACD false default This is trend filter based on MacD indicator If this setting is set as true EA will open only one side trades BUY or SELL according MacD exponents Here you need to apply certain TimeFrame We recommend M30 This feature includes MacD in EA code so it does not require MacD on a chart We do not use this filter that s why is set to false in defaults BrokerMode 1 default This feature makes EA flexible to different broker s conditions There 3 modes that can be used here BrokerMode 1 For brokers who allow opening trades with set TP and SL Most brokers do this BrokerMode 2 For brokers who does not
16. fit of first 2 opposite trades Sometimes in situation like this EA will not have to hedge positions at all because due to flat nature of market or currency these first two opposite orders will be closed in profit during flat market noise Here we d like to mention about Limit amp Stop level of your broker Limit amp Stop level Prices corridor in points form current market price within which Stop Loss Take Profit and postponed orders are not allowed If orders are put server will return a message saying Invalid Stops and will not accept the order Some brokers provide 5 pips as Limit amp Stop level and some provide 10 pips Let s say if you trade with FxOpen who gives you 10 pips as Limit amp Stop level it means that if you put TakeProfit 5 EA will not open any trade due to broker s limits StartHour 0 default EndHour 24 deafult These are time parameters for those who want to SCHEDULE EA trading Before placing first 2 trades EA checks these parameters These time parameters are your broker time If current time is more or equal to StartHour and less or equal to EndHour EA will open trades Let s say you want to start at 10 00 your broker time and stop trading at 15 00 your broker time You set StartHour 10 EndHour 15 At 10 00 EA checks it and open first trades because 10 00 is equal to StartHour and less than EndHour Now you need to understand that at 15 00 EA will not close all positions If trade
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18. ke more than 100K I recommend 0 1 instead of 0 2 each trading pair means that YOU CANNOT trade 5 000 with 0 01 on GBP USD and USD JPY with 0 01 lots micro means MICRO lots not 0 1 but 0 01 If there will be only one thing to put into this Manual I would put this MM rule Guys please think of 8 15 monthly and let it be so Financial freedom comes with wise MM We have here EA that works on ANY market conditions but it will work safely if you will run it easily with proper MM MISTAKE 2 Trading super volatile pairs like GBP JPY and EUR JPY GBP JPY and EUR JPY has about 200 300 pips in a daily average move FXPROMAKER with its defaults will not handle such moves due to hedging nature or this will be very risky to trade this EA on them There are possible variants of settings for these pairs but we keep testing it on demo only for now Terms and Conditions FxProMaker Expert Advisors and any other products that we sell on our websites are Non For Resale software programs and or services You purchase these programs for your own use You are not permitted to share these applications with others either for free or in exchange of money Our main method of delivery is via email or through downloads from our websites We do not physically ship any item to our customers Extra charges may apply if you would prefer to receive your products via physical mail Visit the Method of Delivery section for more information
19. l have an equally proportional effect on your deposited funds This may work against you as well as for you The possibility exists that you could sustain a total loss of initial margin funds and your position will be liquidated and you will be responsible for any resulting losses Investors are recommended to lower exposure to risk by employing risk reducing strategies such as stop loss or limit orders FxProMaker com and or the author of FxProMaker Expert Advisor and strategy will not be held responsible for the reliability or accuracy of the information available on this ad presentation The content provided is put forward in good faith and believed to be accurate however there are no explicit or implicit warranties of accuracy or timeliness made by FxProMaker com FxProMaker and its management and employees assume no responsibility for errors inaccuracies or omissions in these materials They do not warrant the accuracy or completeness of the information text graphics links or other items contained within these materials FxProMaker and its management and employees shall not be liable for any special indirect incidental or consequential damages including without limitation losses lost revenues or lost profits that may result from these materials We assume that you are legally permitted to purchase and use our products Making sure that you are following the global and your local laws and legislations is your responsibility We ca
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21. nnot be held responsible for any damages or lawsuit against you do to such regulations CFTC rule 4 41 Hypothetical or simulated performance results have certain limitations Unlike an actual performance record simulated results do not represent actual trading Also since the trades have not been executed the results may have under or over compensated for the impact if any of certain market factors such as lack of liquidity Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight No representation is being made that any account will or is likely to achieve profit or losses similar to those shown Refund Policy All our sales are final We do not refund the payments in any case Update and Support Policy We send free updates and improvements during 3 months after purchase Also during these 3 months mail support is provided Methods of Delivery We deliver our products electronically either through email or by downloading from our websites When you purchase a product you may be asked to download it from a website other than the one that you purchased it from Should you decide to receive your products physically extra charges may apply We keep the right to decline such requests It may take up to 3 business days to deliver our products to our customers We sometimes put a hold on delivery to make sure the transaction is legitimate Privacy Policy Thank you for visitin
22. ns take precedence We keep the right to change our policy regarding our terms and conditions disclaimer methods of delivery refund policy and privacy policy We always consider the latest version of this material and post it on our website Disclaimer Forex currency trading has large potential rewards but also large potential risk You must be aware of the risks and be willing to accept them in order to invest in the Forex market Don t trade with money you can t afford to lose This ad presentation is neither a solicitation nor an offer to trade Forex No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this ad presentation The past performance of any trading system or methodology is not necessarily indicative of future results Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors However before deciding to participate in the Forex market you should carefully consider your investment objectives level of experience and risk appetite There is considerable exposure to risk in any foreign exchange transaction Any transaction involving currencies involves risks including but not limited to the potential for changing political and or economic conditions that may substantially affect the price or liquidity of a currency Moreover the leveraged nature of FX trading means that any market movement wil
23. p10 ea TP10 ad StartHour n in Variable fed TP3 had Step4 23 TP4 123 Step5 ed TPS 23 Step6 23 TPS had Sten lt r Common Inputs Variable jed EndHour 423 Magic ZA CloseAlINow ZA UseMACD jed BrokerMode A MM_advisor ed FridayCloseTime TakeProfit 30 TP3 30 TP7 30 EndHour 24 StopLoss 0 Step4 30 Step8 30 Magic 111 ConstantStop false TP4 30 TP8 30 CloseAlINow false Step1 30 Step5 30 Step9 30 UseMACD false TP1 30 TP5 30 TP9 30 BrokerMode 1 Step2 30 Step6 30 Step10 30 MM_advisor false TP2 30 TP6 30 TP10 30 FriClosetime 10 Step3 30 Step 7 30 StartHour 0 EA trades according price action so TIMEFRAME DOES NOT MATTER timeframe is important if you set UseMACD true With this feature enabled EA trades one side direction according MacD parameters With these default settings FXPROMAKER trades like this Let s say you attach EA to USD JPY chart 22 05 2008 at 13 00 Right after first tick price change EA will open 2 opposite trades BUY and SELL and set pending orders The price goes UP and FXPROMAKER starts to hedge orders placing doubled SELL orders each 30 pips until the final recap where we close all SELL positions tn profit But EA will also keep setting BUY orders so the whole picture will look like this lt _sell limit 0 16 7 4 close BUY 0 01 and open another BUY here EA is enabled
24. s are in hedging cycle we cannot close them until hedging cycle is done in profit EndHour 15 means that after this time EA will finish its current hedging cycle and will not start new one EA can place hedging trades after 15 00 just to finish previous hedging cycle that was started before 15 00 Let s say at 15 00 we still have some open hedging trades At 15 30 EA finishes and close all positions in profit Then EA checks time parameters before open new trades 15 30 are more than Start Hour but it is also MORE than EndHour so EA simply does not open any new trades If you want to run EA 24 hrs a day and close it manually just leave settings default StartHour 0 default EndHour 24 deafult HOW to LEAVE the market and STOP EA trading please look at these descriptions of these settings CloseAllINow false FridayCloseTime 10 Magic 111 default Magic numbers allows you to trade FXKPROMAKER on 2 same pairs with different settings Let s say you want to trade USD JPY on 2 charts For one chart you want to use Steps and TP 30 and for another TP 25 or any other settings you want to change You just need to attach EA to these two charts but you need to place different Magic Number values FIRST chart you set Magic Number 111 Common Inputs Variable Value 23 StartHour 0 123 EndHour 123 Magic 74 CloseAllNow 74 UseMACD 423 BrokerMode 44 MM_advisor 423 FridayCloseTime SECOND chart you set
25. se TP3 30 Step9 20 FriClosetime 10 Step4 20 TP9 30 TP4 30 Step10 20 We ll keep you updated on our findings 4 GBP JPY and EUR JPY trading Every trader desires to ride on these 2 crazy currencies What we see is potential in STEP TP difference but due to high volatility we need to increase Steps on higher hedging levels and calculate accepted loss These are POSSIBLE and NOT TESTED settings We still test this style of trading Please be careful and try at demo first Here are possible settings TakeProfit 30 Step5 40 TP10 60 StopLoss 400 TP5 50 StartHour 0 ConstantStop true Step6 40 EndHour 24 Step1 30 TP6 50 Magic 111 TP1 40 Step7 40 CloseAlINow false Step2 30 TP7 50 UseMACD false TP2 40 Step8 50 BrokerMode 1 Step3 30 TP8 60 MM_advisor false TP3 40 Step9 50 FriClosetime 10 Step4 40 TP9 60 TP4 50 Step10 50 Again guys we call it perspectives and not strategies Strategies need to be tested If we will find the way to improve basic 10 15 monthly we will gladly share our findings with you Disclaimer Forex is a high risky market There is no system or person who can guarantee your success You implement the methods introduced in this manual and or use FxProMaker at your own discretion The author owner of this manual and or FxProMaker will not be held responsible for your losses of any kind included but not limited to the program s malfunction ieee eer e commas www fxpromaker com
26. tion we place hedging trade each 30 pips STEP 1 to 10 30 but we close all hedging cycle in profit only after 40 pips recap TP 1 to 10 30 Let s calculate the income Excluding spread we have SELL 0 1 closed in loss of 80 pips 80 SELL 0 2 closed in loss of 50 pips 100 50 pips X 0 2 lots SELL 0 4 closed in loss of 20 pips 80 20 pips X 0 4 lots SELL 0 8 closed in profit of 10 pips 80 10 pips X 0 8 lots SELL 1 6 closed in profit of 40 pips 640 40 pips X 1 6 lots TOTAL 460 of profit So ONLY 10 pips difference shows GREAT difference in final profit income m Remember if you increase your TP values up to 40 pips EA will need to wait for a good minimum 40 pips recap to close hedging cycle in profit There are some trading pairs at FX market with low volatility Also some USD pairs do not move a lot during Asia session Let s see the EUR GBP example Aw Mi 30 35 PIPS i W hi i Wy My cae ek ae n ai Fr ny Ma bl jiin h jit ms ee P t pa i ny T pr Hi 0 7935 0 7920 0 7905 With such low pair volatility we can use following parameters Lots 0 1 TakeProfit 10 Step1 30 TP1 30 Step2 30 TP2 30 Remember that TakeProfit is the value of FIRST 2 opposite trades Look at picture below 123 StopLoss 4 ConstantStop _ _ es Red lines shows us SELL trade hedging steps Blue lines shows us BUY trade hedging steps Green lines Show us TakePro
27. w this it means EA will not trade Switch your broker s mode to 2 In you Meta Trader you have 2 important tabs Experts and Journal Firstly check the Experts tab Time Message As 2008 09 03 14 47 53 EA USIP M30 initialized 2008 09 03 14 47 53 EA USOJPY M30 inputs Lots 0 1 TakeProfit 30 Ste 2008 09 03 14 47 29 EA USIP M30 loaded successfully Experts It says that EA is initialized and loaded successfully Also in Journal Time Message a 2006 09 03 14 47 42 56 9460 login 4 00 2B565946 a 2006 09 03 14 47 56 5679460 login 4 00 2B565946 amp 2008 09 03 14 47 29 Expert EA USDIPY M30 loaded successfully 2008 09 03 14 47 25 FADD MetaTrader 4 00 build 217 started Journal It confirms that EA is successfully loaded If there will be any EA troubles please check these 2 tabs They show you whole history of what was happening during EA trading Also to report any error of EA please attach scans of these 2 tabs This will help us to solve your issue faster MISTAKE 1 Overloading EA with high lots no proper MM This is the most common mistake we see in FXPROMAKER trading People do not listen to our recommendations and trade high lots on small accounts Once again we recommend Minimum 5000 for each trading pair with 0 01 lots micro Now some explanations minimum means that it s minimum We use 5K for USD JPY with 0 01 For big accounts li
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