User Manual
Contents
1. File Folder L7 EURUSD_Robot 12 16 2010 3 46 EX4 File 21 KB g B Askobid MetaTrader a config d deleted B experts p config B files B include Now you can open up Metatrader After opening Metatrader MT4 hold down the CTRL O keys and then click on the Expert Advisors tab and configure options to show the same as below Server Charts Objects Trade Expert Advisors Email Publisher Events E Disable experts when the account has been changed _ Disable experts when the profile has been changed V Allow live trading E Ask manual confirmation V Allow DLL imports E Confirm DLL function calls v Allow external experts imports First open EURUSD USDCHF and EURCHF charts in MT4 by right clicking on the currencies then clicking on open chart change time frame to M15 Market Watch 11 52 39 x Symbol Bid Ask 4 EURCHF 1 30371 1 30395 EURGBP 0 84732 0 84766 EURDKK 7 45203 7 45248 EURJPY 109 977 110 001 _ EURNZD 1 74669 1 74859 EURTRY 1 96837 1 97077 E New Order F9 4 GBPAUD n ba E ChartWindow amp GBPCHF E Tick Chart Space ENN Hide Delete Symbols Tic j Hide All viga AM Show All Am Symbols A M Sets gt EM High Low e M Time flo v Auto Arrange A g 4 v Grid G AR E Rd BB Popup Prices F10 Ensure the charts are on the M15 setting as our robot trades on 15 minute bars Also ensure the Expert Advisors button above M152. This is very rare case as most windows will already be running it However here is the link for the Net framework just in case you don t have it http www microsoft com downloads details aspx Family D 0856eacb 4362 4b0d 8edd aab15c5e04f5 amp displaylang en Problem There is a sad face on my chart instead of a happy face Solution Make sure you have the Allow live trading ticked under the expert advisor Properties common Problem There is an X in the top right corner instead of a smiling face Solution Click the expert advisor tab on the top toolbar Problem My Metatrader platform crashed when open it up Solution Please un install Metatrader 4 and re install again under a new directory name then try again If you require any further support regarding our trading system please contact admin freefxtradingrobot com and we will endeavor to assist you shortly It must be remembered that patience is extremely important when it comes to working within financial markets Although we have created a stable algorithm that shows excellent results you must be aware that losing some trades will happen For this reason please don t jump to conclusions about the effectiveness of the system after just a few trades Instead follow the system for a few weeks so that you can properly evaluate it and get used to the way in which it works Should you want to try the Premium version risk free which includes the op
3. just like any other trading system There have been plenty of historical drawdowns but every time it recovers to new equity highs Our system only trades Sunday Wednesday Ney York time that is it doesn t trade Thursday night or Friday night NY time because we ve found currencies to trend more going into the weekend plus sensitive news releases occur more so on Fridays think NFP and our robot doesn t like this Now you understand the system you re ready to setup Video Tutorial You can watch a video version of this installation tutorial here http freefxtradingrobot com members go InstallationTutorial Setting Up and Installation Please follow the below steps carefully to install our automated robot You only need to follow the below instructions once then you system will remain on auto pilot so long as your computer is turned on with Metatrader running Step 1 Downloading Metatrader 4 As you know our automated system is an expert advisor script that runs on the Metatrader 4 platform as offered by over 400 brokers worldwide When scalping you need a good forex broker to be profitable ideally you want a broker that has low spreads with good execution There are often differences between the quotes that different brokers provide as well as in the ways that the different MetaTrader platforms behave We find that the best compatibility is gained when using Trading Point which is the broker that we use W
4. must be aware of the risks and be willing to accept them in order to invest in the FOREX futures and options markets The past performance of any trading system or methodology is not necessarily indicative of future results Introduction Congratulations on your decision to use our forex scalping robot We are sure you will be satisfied with its performance and ease of use going forward especially since we provide this to you at no charge at all We have spent a considerable amount of time and money to develop this robot and we believe we have our best work ever presented here Many late nights have gone into perfecting every single detail about the robot You find installing a breeze and it will run completely on autopilot for you System Logic As you know we are disclosing our system logic in this section This is something that 99 of system vendors don t tell you yet it s the most important thing to know to be able to trade a system with conviction If you don t know how a system works how on earth are you going to have the confidence to place real money with it Therefore we have taken the time to explain to you exactly how our system works why it works and what you can expect from it Ok so let s describe our system Our system is a scalping system with a very high win rate above 90 Trades usually only last several hours or less however every now and then they can last up to 48hrs As with every scalpin
5. think you can have your computer turned on with Metatrader all the time and you experience internet drop outs or crashes we highly recommend you get a VPS subscription to run your system We do ourselves For more information please visit http www freefxtradingrobot com Forex VPS html Risk Management As you know we are big believers in having prudent risk management Unlike most other robots out there ours doesn t use martingale that is we never add to losing positions or hold through massive open trade drawdowns Our system uses a fixed stop loss for every trade and you can adjust this level By default the system will risk 5 of your a c on every trade since we have an extremely high win rate above 90 this is bearable every now and then you will take a loss but most days will end in profit If you more conservative you may wish to adjust the risk setting to 2 and if you re more aggressive you may wish to increase the risk setting to 10 please be aware of the increased volatility in doing this you have to be able to stomach bigger account swings Please note as with any automated trading system it is prudent to watch over it and make sure it is functioning properly as its possible something on your system could cause mal functioning Our robot doesn t enter Stop Loss or Take Profit orders in straight away it hides them from the broker with the entry order then places them in several minutes after successful entr
6. you should now see resting SL and TP orders in your open trade in the terminal Backtesting Our robot backtests very well To get the most from your backtest please follow these settings Make sure you have added the EA to each currency chart before backtesting so the system can automatically detect your time settings and adjust not doing this will conflict backtest results Open the Strategy Tester by selecting View gt Strategy Tester Select the Expert Advisor as Scalping Robot Select the Symbol EURUSD Select the Period M15 Tick Use Date and select From 2010 01 01 To Today s Date If you are not getting any trades during a back test do the following 1 Check for errors in the Strategy Tester Journal 2 Download Historical Data If you have installed a new version of MT4 then there is never enough historical data to Back Test a robot properly You need to download more To download more historical data go to Tools gt History Centre Select the currency pair you would like to test on Then click Download This will download all data from Metaquotes for all timeframes and may take a few minutes IMPORTANT Once the History Center has downloaded all the data click Download again Follow the onscreen instructions to recalculate the timeframes You are now ready to Backtest Feel free to test different settings by changing the default settings in the expert advisor parameters in the strategy tester window We encourage yo
7. Profitable Forex Scalping System 100 Automated 100 Free q User Manual Terms of Use Trading any financial market involves risk The content of this Manual its various associated websites and all related correspondence are neither a solicitation nor an offer to purchase of sell any financial instrument Although every attempt has been made to assure accuracy we do not give any express or implied warranty as to its accuracy We do not accept any liability for error or omission Examples are provided for illustrative and educational purposes only and should not be construed as investment advice or strategy No representation is being made that any account or trader will or is likely to achieve profits or losses similar to those discussed in this Manual Past performance is not indicative of future results By using this software subscribing to our mailing list or using the website you will be deemed to have accepted these terms in full We endeavor to insure that related websites are available 24 hours per day but we cannot be held liable if for any reason a site is unavailable The information provided in this e book is not intended for distribution to or for use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country Hypothetical performance results have many inherent limitations s
8. e like Trading Point because their guarantee of no re quotes which is key to the profitability of the EA Also as there are a huge amount of different MetaTrader brokers in existence there is no way that we can possibly guarantee compatibility with all of them For this reason please take our recommendation of Trading Point into serious consideration If you don t already have a live forex account simply visit one the site above and download a free demo account our robot will still work the same on a demo account Step 2 Installing the Robot After installing and activating your Metatrader account please close down Metatrader and copy the robot files that you downloaded in the email we sent you into the expert folder directory in the Metatrader Folder as shown below E experts BEE CU J de Local Disk C Program Files Askobid MetaTrader experts v X se arch 2 Fie Edit View Tools Help Organize v 22 Views v Favorite Links z Date modified config 12 17 2010 10 0 File Folder F Documents D fies 12 18 2010 12 0 File Folder J Pictures dI include 12 20 2010 7 40 File Folder B Music indicators 12 18 2010 12 0 File Folder More i libraries 12 20 2010 7 40 File Folder B logs 12 30 2010 8 41 File Folder Folders v B presets 12 8 2010 9 24 PM_ File Folder af m samples 12 7 2010 11 53 File Folder P scripts 12 7 2010 11 53 File Folder B templates 12 7 2010 11 53
9. g system a small target profit is set in place with a larger stop loss We have tested many different types of stop losses and as with most trading systems larger stop losses work much better the market just doesn t go straight up or straight down it trends ranges chops changes sideways spikes etc 80 you need to give your trade a lot of breathing room to hit your profit target For example on the EURUSD we use a 8 5 pip profit target with an 90 pip stop loss this results in many winning trades which makes it easier or your psyche to trade the system Yes every now and then you will hit your stop loss that is normal and every trading system has drawdowns But to truly keep on trading the system you need to know why it works this will give you the confidence to keep trading beyond the temporary drawdowns Keep on reading the next page where we describe the logic of our trading system Here is what our system is based on As you may know the currency markets are dominated by 3 major trading sessions First the Asian session then the European session finished with the US session In each of these trading sessions the local forex dealers for those currencies are actively filling their order book executing their client tickets and building their own trading positions You will notice the volatility is at the greatest around session opening times and less so around the closing times as well The US session ends at appr
10. is showing green as per below too Trader EURUSD M1 Charts Tools Window Help fa w Es New Order Expert Advisors E x Tei Bid Ask 4 30344 1 30368 84721 0 84755 45203 7 45248 09 985 110 009 _ 74658 1 74848 F 96859 1 97099 32905 1 32920 Ensure the pop up window looks the same as below then click ok Common Inputs Common Safety Long amp Short v positions Allow DLL imports T Enable alerts Confirm DLL function calls v Allow import of external experts Disable alert once hit P p Live Trading v Allow live trading Ask manual confirmation OK Cancel If it loaded successfully you will see a smiley face in the top right hand corner of the chart Now all you have to do is leave your computer running with Metatrader and the robot will automatically open and close trades for you Please check the system periodically to ensure it is running smoothly YOU ARE ALL DONE Settings Please find below the settings used in our robot although these are changeable you aren t required to change anything All you do is attach the robot to each currency you wish to trade and our optimized settings will be in effect MagicNumber Hour_Start_Trade Hour_Stop_Trade Lots LotsOptimized Risk Maximum_Lots StopLoss TakeProfit Virtual_TP 88888888 trade identifier no need to change 0 time robot starts looking for trades 1 time robo
11. om free robot zip Problem installed the robot X days weeks ago but it hasn t placed any trades Solution e Make sure you have followed all the installation steps above even missing a single one will cause the EA to not work properly e If you are running the robot on your local PC make sure the EA is running from 2200 GMT to 2300 GMT Monday to Friday As the robot only trades during that hour if it isn t running then it won t place any trades e For best results and to avoid all the issues above we recommend running the EA ona VPS service Click here for VPS services that have proven to work well with our robots and which we recommend http freefxtradingrobot com Forex_VPS html e Different brokers provide different prices and this will affect the profitability and the number of trades the EA will place We strongly recommend Trading Point as it has proven to work very well and there are many of our clients who are very happy with their platform Problem I m getting an error 126 and Metatrader is crashing when attach the robot Solution the Visual C 2008 SP1 Redistributable Package needs to be installed Here is the link http www microsoft com downloads details aspx familyid a5c84275 3b97 4ab7 a40d 3802b2af5fc2 amp displaylang en Problem I m getting an error 127 and Metatrader is crashing when I attached the robot Solution This means that the user has to install the Net framework at least 2nd Version
12. ome of which are mentioned below No representation is being made that any account will or is likely to achieve profits or losses similar to those shown In fact there are frequently sharp differences between hypothetical performance results and actual results subsequently achieved by any particular trading program One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight In addition hypothetical trading does not involve financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading For example the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect trading results There are numerous other factors related to the market in general and to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results We reserve the right to change these terms and conditions without notice You can check for updates to this disclaimer at any time without notification The content of this Manual and all related websites and correspondence are copyright and may not be copied or reproduced Commodity Futures Trading commission Futures and Options trading have large potential rewards but also large potential risk You
13. oximately 4pm EST which is 2100 GMT at which time the European already had closed and doesn t open until 0800 GMT so in between 2100GMT and 0800 GMT North American and European dealers aren t active in fact the few hours after 2100 GMT no forex dealers are active In this period particularly between 2100 0200 GMT volatility is significantly reduced in currencies as most dealers are either asleep or not at their trading desks this is also a period when the least amount of news is released that affect prices Our trade primarily only trades between 2100 2300 GMT however due to different server times on some MT4 platforms it shows this same period is shown as 2300 0100 GMT in the robot settings window 2 hours forward from the real GMT time Please use www timeanddate com to compare to your local times In this period prices don t tend to trend strongly in one direction not only is there lower volatility the ability for price to trend is very subdued This has been evident for many years in the currencies markets So we have designed a unique range bound trading system designed to trade only in this low volatility period It looks for a simple channel to buy and sell in between these times Our robot will auto adjust the exit to breakeven if the price initially moves away from the entry price we have found this to increase performance other than that it will look for 10 15 pips profit Please be aware there will be times of drawdown
14. t stops looking for new trades 0 1 use this setting if lotsoptimized setting is false you can manually choose your lot size True this will automatically calculate position size based on the Risk number below 5 the robot will automatically adjust your position size so that the stop loss equals 5 of your a c 100 this is the max amount of lots the robot will open currently set at 10 million dollars 850 the amount of pips we give the trade room to hit our profit target this is 85 pips shown as 850 because of 5 decimal broker if 4 digit broker use 85 for 85 pips 90 the amount of pips we are looking to close the trade a profit for this is 9 pips shown as 90 because of 5 decimal broker if 4 digit broker use 9 for 9 pips false this is a dynamic takeprofit setting recommended to be left off at this stage Slippage_close 4 this is the max amount of slippage the robot will allow in executing a trade signal MaxSpread 5 this is the max amount the currency spread can be for the robot to trade TimeOpenedProtection True our robot auto adjusts the time settings to your server time Volatility Filter False this is an option to filter our trading signals when volatility is currencies is too high currently recommended to false Sec 0 001 related to the above volatility filter recommended leave to default settings Please be aware your computer has to be for the system to work If you don t
15. timized robot for 5 additional currencies simply go here http www FreeFxTradingRobot com signup html We sincerely hope you enjoy using our free automated trading robot we have done our best to bring to you the most powerful trading system we could possibly design and we have full confidence it will continue to work well Here s to you becoming a successful automated trader or nifla Pindberg Camilla Lindberg www FreeFxTradingRobot com D FREEFXTRADINGROBOT Ja Profitable Forex Scalping System 100 Automated 100 Free
16. u to tweak the settings a little just so that everyone is trading at exactly the same second You can also optimize the expert advisor by following these instructions In strategy tester tick the window optimize and in the Expert properties in the values you want to optimize enter a start value a step and a stop value For example if you wanted to find the optimal stop loss level between 50 120 pips you would set the start value to 50 the step at 10 and the stop at 120 the system will then test every stop loss combination between 50 120 going up 10 pips at a time so it would test 50 60 70 80 90 100 110 120 It will return the results in the optimization results window you can then fine tune your settings in the EA on the chart to the optimal settings Troubleshooting There are several things that can be easily overlooked when installing a forex robot for the first time we have compiled a list of the most common problems and the easy solution to them Problem I have the user guide but have not received the free EURUSD robot file Solution when you signed up you will have received an email with the robot ex4 file attached If it s not in your inbox please check your spam folder and whitelist the email admin freefxtradingrobot com to make sure you receive all future upgrades this step is key If you still haven t received the email you can download the free robot file here http freefxtradingrobot c
17. y if your internet MT4 connection drops out in this time your SL and TP may not be placed If this happens you won t see any SL or TP levels shown in the trade tab in your terminal window to fix this you can manually enter in the SL TP orders into MT4 as shown below Open up the trade tab in the terminal window Right click on the stop loss box then click on modify order Type Size Symbol Price S L T P Price Cc Margin level 172 07 sed till 2011 05 01 Trailing Stop Profit least timeframes to generate each tick Commissions To 2010 12 10 Taxes 2010 12 30 Comments v Auto Arange A Grid Manually enter in the SL and TP levels for the SL simply subtract 80pips from your entry price and for the TP simply add 8 pips to your entry price or other amounts depending on your chosen SL and TP values Order 10164424 buy 1 00 EURUSD at 13253 si 0 0000 tp 0 0000 n Symbol EURUSD Euro vs US Dollar aK 434 Volume 1 00 Stop Loss 0 0000 Take Profit 0 0000 Comment Type Modify Order Modify Order Level 5 v points Level 5 v points Copy as 13245 Copy as 1 3250 Stop Loss 1 3173 amp Take Profit 1 3261 13144 Modify 10164424 buy 1 00 EURUSD sl 1 3173 tp 1 3261 1 3129 Stop Loss or Take Profit you set must differ from market price by at least 5 pips 1 3115 Click on the blue modify button and
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