Installing WallStreet FOREX Robot
Contents
1. 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 By using WallStreet FOREX Robot you acknowledge that you are familiar with these risks and that you are solely responsible for the outcomes of your decisions We accept no liability whatsoever for any direct or consequential loss arising from the use of this product It s to be noted carefully in this respect that past results are not necessarily indicative of future performance Your purchase WallStreet FOREX Robot serves as your acknowledgement and representation that you have read and understand these TERMS OF USE and that you agree to be bound by such TERMS OF USE License Agreement Copyright Information REPRODUCTION AND OR TRANSLATION OF ANY PART OF THIS WORK BY ANY MEANS ELECTRONIC OR MECHANICAL INCLUDING PHOTOCOPYING BEYOND THAT PERMITTED BY COPYRIGHT LAW WITHOUT THE PRIOR WRITTEN PERMISSION OF THE PUBLISHER IS UNLAWFUL Copyright 2011 WallStreet FOREX Robot www wal2. 1 WallStreet FOREX Robot User Guide 2 Contents Getting Started 3 The MetaTrader4 MT4 Trading Platform 4 Installing WallStreet FOREX Robot 7 Activating WallStreet FOREX Robot 11 Starting and Configuring WallStreet FOREX Robot 12 WallStreet FOREX Robot Settings 15 WallStreet ASIA 18 Risk Management Hints 20 How to back test WallStreet FOREX Robot 21 The WallStreet FOREX Robot MetaTrader 5 version 23 Terms of use and risk disclosure 24 3 Getting Started The recommended pairs for trading at the moment are EURUSD GBPUSD and USDJPY These four currency pairs provide better performance at the moment If you decide to trade on all the 4 pairs at the same time you may consider reducing the risk for each pair with 1 for example For more supported currency pairs please keep reading below Before installing WallStreet FOREX Robot on your computer and commencing trading
3. of the custom volatility based channel indicator The default value is zero which means that the value provided by our server will be used Entry_Break default value 0 break in pips of the channel border which will trigger an opposite order execution The default value is zero which means that the value provided by our server will be used Exit_Distance default value 0 break in pips of the channel border which will trigger a closure of the existing order The default value is zero which means that the 20 value provided by our server will be used Exit_DistanceM1 default value 0 break in pips of the channel border on M1 timeframe which will trigger a closure of the existing order The default value is zero which means that the value provided by our server will be used Start_Trade_Hour default value 1 the hour of the day Broker time in which trading will be enabled The default value is 1 which means that the value provided by our server will be used End_Trade_Hour default value 1 the hour of the day Broker time in which trading will be disabled The default value is 1 which means that the value provided by our server will be used Risk Management Hints Risk management is of fundamental importance in attaining optimum forex trading results It pays to think carefully before deciding what percentage of your account to expose to risk in each individual transaction If your account is si
4. the following brokers and requesting a demo account www alpari ru www alpari co uk www fxpro com www fxdd com www fxopen com This list is for reference only We are not affiliated with any broker 5 Installing MetaTrader 4 Browse through this section if you are familiar with MT4 and already have a broker account After completing installation you will be asked to create a demo account Fill in the details and select the amount of the account deposit Enable Agree to subscribe to your newsletters then click Next 6 The program will ask you to select the trade server to which it should connect Click Next In the next window click Finish Your demo account is opened Close MT4 so that you can install WallStreet FOREX Robot 7 Installing WallStreet FOREX Robot We offer you two ways of installing our software Automatic installation using WallStreetForexRobotInstaller exe After logging into the member zone with the username and password provided download WallStreetForexRobotInstaller exe from your personal download page to a convenient location on your computer Install WallStreet FOREX Robot During installation select the installation folder of your MetaTrader4 terminal This folder would usually have the name of your broker and would be found in C Program Files 8 If you did not close your MetaTrader4 terminal before WallStreet FOREX Robot installation yo
5. 0 This places 10 per cent of the account extent at risk per individual transaction at a loss of 100 pips RecoveryMode true false when RecoveryMode is activated an algorithm effectively compensates current drawdown through smooth increases of trading volumes This mode is active only when AutoMM is greater than zero AutoMM gt 0 Before activating RecoveryMode please bear in mind that it can significantly increase risk to your account For this reason RecoveryMode ought to be used at low values of the AutoMM parameter AutoMM_Max the maximum permitted risk expressed as a percentage of the account per individual transaction calculated on the basis of a 100 pip loss MaxAccountTrades using this parameter you could limit the number simultaneously opened trades in your account The default value is zero which means that by default this option is disabled MondayStartHour The robot will start trading after this hour on Monday If you want to set any custom value it must be between 0 and 23 To completely disable trading on Monday set MondayStartHour 24 FridayExit true false if you wish to close all trades on Friday you should use FridayExit true LastTradeHour the robot can trade until the end of this hour on Friday including this hour ExitHour the robot will close all open positions at this hour on Friday 17 If you decide to use the FridayExit option you should set LastTradeHour and ExitHour several hours before the ma
6. TakeProfit proximity to takeprofit levels in standard 4 digits pips SecureProfit minimum profit to be guaranteed where the position s current profit is equal to the value of the SecureProfitTrigger parameter SecureProfitTrigger the position s current profit in pips which would guarantee minimum profits equal to value of the SecureProfit parameter 16 UseCustomPair true false if you wish to use WallStreet FOREX Robot on a unsupported currency pair change UseCustomPair true UseSettingsFrom if you wish to use WallStreet FOREX Robot on an unsupported currency pair with this input parameter you can choose which supported settings you wish to use At the moment you have seven possible choices EURUSD GBPUSD USDJPY USDCHF USDCAD NZDUSD and AUDUSD It is not necessary to change this parameter if you use some of the supported currency pairs It is only in case you use UseCustomPair true FixedLots the extent of the fixed trading volume If you use AutoMM gt 0 the value of the FixedLots parameter does not matter AutoMM automatic risk management activates at values greater than zero Example 1 at AutoMM 2 WallStreet FOREX Robot opens positions equal to 0 2 lots 20 000 given account extent of 10 000 This places 2 per cent of the account extent at risk per individual transaction at a loss of 100 pips Example 2 at AutoMM 10 WallStreet FOREX Robot opens positions equal to 1 lot 100 000 given account extent of 10 00
7. al and click Tools gt Options At this stage make certain that you have checked and unchecked all the boxes exactly as shown below in order to ensure correct WallStreet FOREX Robot operation 13 Now open the graphs for the currency pairs you wish to trade We recommend WallStreet FOREX Robot for the EURUSD GBPUSD and USDJPY currency pairs Select the 15 minute graph 15 Now you are ready to place WallStreet FOREX Robot on the chart In the Navigator window double click Expert Advisors to expand it You should now see all Expert Advisors including WallStreet FOREX Robot Now you can right click WallStreet FOREX Robot and select Attach to a Chart or alternatively simply drag WallStreet FOREX Robot onto the chart 14 After placing WallStreet FOREX Robot on the chart you should see a smiley face in the upper right hand corner of your chart This means the robot is running If you do not see a smiley face make certain that under Properties on the menu bar the Allow Live Trading box is checked If it is checked and you still do not see a smiley face go to Tools on the menu bar and select Options A popup will appear Select the Expert Advisors Tab and check both the Enable Expert Advisors box and the Allow Live Trading box You can enable or disable WallStreet FOREX Robot from the Expert Advisor button at any time 15 WALLSTREET FOREX ROBOT settings You can edit WallStreet FOREX Robot settings by righ
8. ding We strongly recommend that you operate a demo account before trading with real money This will help you become familiar with the way WallStreet FOREX Robot operates before you commit genuine funds to a real money account 24 Terms of Use and Risk Disclosure U S GOVERNMENT REQUIRED DISCLAIMER FOREX 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 markets Don t trade with money you can t afford to lose This is neither a solicitation nor an offer to Buy Sell currencies futures or options No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site The past performance of any trading system or methodology is not necessarily indicative of future results Trading foreign exchange on margin carries a high level of risk and is not suitable for all investors The high degree of leverage can work against you As with all investments you should not invest money that you cannot afford to lose Before deciding to invest in foreign exchange you must carefully consider your investment objectives level of experience and risk appetite Additionally you must be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor Past results are not necessarily indicative of future success CFTC RULE 4 41
9. easonable in some situations In the general run of cases this would reduce system drawdown but would also reduce profits In support of this we would offer the following examples in the EURUSD currency pair at different StopLoss values Simulation period 2005 2011 When not using StopLoss or where StopLoss is set at 300 or more pips the results would be Total net profit 5590 pips Profit factor 2 96 Maximum drawdown 320 pips When setting StopLoss at 130 pips the results would be Total net profit 5172 pips 18 Profit factor 2 54 Maximum drawdown 225 pips When setting StopLoss at 30 pips the results would be Total net profit 3947 pips Profit factor 1 88 Maximum drawdown 203 pips WallStreet ASIA It is important to be noted that we developed the WallStreet ASIA robot as a completely free add on to the WallStreet Forex Robot after we received many requests from our clients The Asian session scalping performance is limited by the brokers conditions so we do not recommend using WallStreet ASIA on brokers with high spreads during the Asian trading session As well we do not recommend the usage of WallStreet ASIA by people who are not familiar with the specifics of this type of trading The EA comes in two versions a regular and a simple one When you install the EA you will notice WallStreet_ASIA_vX X and WallStreet_ASIA_vX X_Simple under the Expert advisors section The firs
10. gnificant in extent and importance and if you do not wish to take unnecessary risk then you ought to settle for AutoMM values between 1 and 5 per cent risk per individual transaction In such case you may expect a return on investment in the order of 10 to 100 per cent on an annual basis If your account is not significant in extent or importance and if you can afford to assume significant risk then you may select AutoMM values between 10 and 20 per cent per individual transaction In such case you may expect a return on investment in the order of 200 and 1000 per cent on an annual basis Bear in mind however that the level of risk assumed means that the chance of losing the entire account increases In reality perhaps the most widely assumed risk per individual transaction is 5 per cent AutoMM 5 and for a good reason Assuming 5 per cent risk and applying a good trading strategy your chances of steady long term profit are significant while the risk of losing the entire account is minimised For example if you have a USD 10 000 account then If AutoMM 0 the EA will trade with volume parameter FixedLots defaults FixedLots 0 1 If AutoMM 2 2 per cent risk the EA will open 0 2 lot positions 20 000 If AutoMM 5 5 per cent risk the EA will open 0 5 lot positions 50 000 If AutoMM 10 10 per cent risk the EA will open 1 0 lot positions 100 000 21 How to back test WallStreet FOREX Robot Please do not forget t
11. l you need to do is to restart your MT4 If you have done everything correct the EAs should appear in the Navigator Tab of your MT4 11 Activating WALLSTREET FOREX ROBOT You should activate your copy of WallStreet FOREX Robot for your demo and real accounts trough our website Login to our member zone and then find the account activation page Type your account number into the input field and click Activate Repeat this procedure for each account You need to activate the demo accounts in the field for demo account activation and the real money account in the real money account activation field Your WallStreet FOREX Robot licence is valid for an unlimited number of demo accounts and for three real money accounts The licence is not tied to one computer You are free to trade using your accounts on any computer at home in the office or VPS As well you have an option to remove an account that you do not use and activate a new account on its place You ought to activate your demo or real account even if you wish to backtest WallStreet FOREX Robot Your online authentication procedure may take some time If you see an Online Authentication Problem alert wait a couple of minutes and try again If the problem persists contact us at support wallstreet forex com 12 Starting and configuring WALLSTREET FOREX ROBOT After installing and activating WallStreet FOREX Robot launch your trading termin
12. lstreet forex com All Rights Reserved Author WallStreet FOREX Robot Team Website www wallstreet forex com
13. o activate your demo or real account even if you only wish to backtest WallStreet FOREX Robot If you wish to back test WallStreet FOREX Robot first you should download history from the MetaTrader history center click Tools gt History Center or press the F2 key of the keyboard In the list find the currency pair that you wish to back test and double click to expand it Click 1 Minute M1 and then click Download When the download process is finished double click on 5 Minutes M5 and 15 Minutes M15 to convert the M1 data Close the History Center window To open the Strategy Tester window click the Strategy Tester button of the MetaTrader menu or press Ctrl R on the keyboard In the Strategy Tester window chose WallStreetForexRobot chose one of the supported currency pairs EURUSD GBPUSD USDJPY USDCHF USDCAD NZDUSD or AUDUSD chose M15 timeframe chose the method Every tick as shown below Click Start to start the back test 22 The back test by Every tick is the most precise but it is very slow If you wish to save time you can run the back test on M1 timeframe by Open price only method and this will be correct too Important notice If you make a back test and at the same time you have WallStreet FOREX Robot attached on the chart in live trading mode this can overload your MetaTrader4 terminal and can be a cause for a MataTrader 4 terminal crash Do not make back tests on the
14. on a real account please read this carefully it may be crucial for your future profits Trading forex entails risk and each instance of negligence or inattention may lead to significant loss 1 We strongly recommend that you operate a demo account before trading with real money This will help you become familiar with the way WallStreet FOREX Robot operates before you commit genuine funds to a real money account 2 Please be exceptionally careful when determining trading volumes and setting automatic risk management parameters 3 If you suspect that WallStreet FOREX Robot might be operating incorrectly please halt operations and contact us immediately WHAT YOU MUST KNOW BEFORE USING WALLSTREET FOREX ROBOT WallStreet FOREX Robot is compatible with 7 pairs EURUSD GBPUSD AUDUSD USDJPY USDCHF USDCAD and NZDUSD currency pairs The recommended pairs for trading at the moment are EURUSD GBPUSD and USDJPY The other four pairs USDCHF USDCAD AUDUSD and NZDUSD are optional and you can use them only at your own discretion WallStreet FOREX Robot is compatible with all MetaTrader 4 brokers as well as with brokers using ECN type order fulfilment You do not need to change any settings WallStreet FOREX Robot is entirely compatible with NFA regulated brokers applying No Hedge and FIFO 4 WallStreet FOREX Robot automatically recognises whether your broker offers four or five digit quotes You do not need
15. rket closing of your broker on Friday Avoid_News true false if you wish to use the news filter function you should set Avoid_News true GMT_Offset here you should enter the correct GMT time shift for the trading server of your broker This is important only in case you use the Avoid_News function DST_Usage true false if your broker server time is based on DST Daylight Saving Time you should set DST_Usage true Include_Medium_News true false if you wish to avoid the medium impact news too you should set Include_Medium_News true Wait_Before_News the number of minutes before the news event during which trading will be switched off Wait_After_News the number of minutes after the news event during which trading will be switched off Important StopLoss and TakeProfit have default values of zero 0 When the default value is selected WallStreet FOREX Robot uses StopLoss and TakeProfit values broadcast by our web server If you wish to set your own StopLoss and TakeProfit values simply input values different to zero In such a case WallStreet FOREX Robot shall use the StopLoss and TakeProfit values set by you StopLoss values broadcast from our web server are usually in the range of between 100 and 200 pips A reasonably broad StopLoss offers the WallStreet FOREX Robot system logic the opportunity of closing positions at optimum price levels even when a loss may be made Using a close StopLoss of the order of 30 to 60 pips would also be r
16. same MataTrader 4 terminal that you use for live trading 23 The WallStreet FOREX Robot MetaTrader5 version In the moment of the release of WallStreet FOREX Robot the MetaTrader 5 trading terminal is still in process of beta testing and development In connection with this the functionality of any expert advisor could be limited or incorrect As well you should have in mind that the MetaTrader 5 strategy tester is not fully completed and problems with the strategy testing process still exists At the moment the WallStreet FOREX Robot MetaTrader 5 version works only with a 32 bit installation of the MetaTrader 5 terminal If your operating system is 64 bit you should make a custom 32 bit installation of the MetaTrader 5 terminal You can see how to do this on this video gt How to install 32 bit MetaTrader 5 terminal on 64 bit operating system lt Installing of the WallStreet FOREX Robot MetaTrader 5 version files The WallStreetForexRobot ex5 file must be placed in the C Program Files MetaTrader 5 MQL5 Experts Advisors folder The WALLSTREET dll file must be placed in the C Program Files MetaTrader 5 MQL5 Libraries folder Note The WALLSTREET dll file is one and the same for the MetaTrader 4 and MetaTrader 5 trading terminals The next step is to allow the dll imports from Tools gt Options gt the Expert Advisors tab Now you are ready to backtest or use the WallStreet FOREX Robot MT5 version for a demo tra
17. se your own value then you can enter a positive value for the MaxSpread parameter Auto_GMT default value true this parameter controls the GMT Offset calculation method In most of the cases the automatic GMT value is correct However in some cases you may need to enter the GMT Offset by yourself In this case switch Auto_GMT to FALSE and enter the value you need in the Manual_GMT_Offset parameter Calculate_DST default value true activates the automatic DST Daylight Saving Time correction Manual_GMT_Offset default value 2 in case you switch to Auto_GMT FALSE the value of this parameter should be the right GMT Offset of your broker usually the winter GMT offset As well in case you perform a backtest you should enter here the correct GMT Offset for the historical data you use otherwise the backtest will be incorrect TicksTrade default value false this is an experts only parameter which activates execution on the trading logic on every price tick By default Wallstreet ASIA operates on M1 bar closing All optimizations and tuning we made are based on M1 bar closing so we do not recommend switching ON the TicksTrade mode unless you are an expert capable in making your own 100 real tick tests and optimizations However the TicksTrade mode could provide very aggressive and profitable trading but this depends a lot on the broker s trading conditions Channel_Period default value 0 the period
18. t EA is the regular version while the second one is the simple Both the EAs are the same The only difference is that the simple version has fewer parameters the purpose of this is to ease some customers who are new to automated Forex trading Do NOT use both the versions at the same time Use only the one which is more suitable for you What you should be aware of when using WallStreet ASIA on a real money account The performance of all Asian session scalpers depends on the spreads and the order execution by brokers The best choice would be ECN brokers with tight spreads fast order execution and good reputation If you use WallStreet ASIA on a real account more than a month without success you d better cancel operation and try to find a broker with better trading conditions during the Asian trading session WallStreet ASIA works on M15 time frame only Supported currency pairs and recommended spreads during the Asian trading session GBPUSD spreads below 4 pips USDJPY spreads below 3 pips GBPCAD spreads below 9 pips GBPCHF spreads below 9 pips 19 EURGBP spreads below 5 pips EURCHF spreads below 4 pips USDCAD spreads below 4 pips USDCHF spreads below 3 pips External parameters that differs from the basic WallStreet FOREX Robot parameters MaxSpread default value 1 0 the default maximum allowed value of the spread is provided by our server but if you want to u
19. t clicking anywhere on the chart and selecting Expert Advisors gt Properties Each time you launch WallStreet FOREX Robot it automatically updates its settings from our web server This means that you can relax your forex robot is always trimmed to prevailing market conditions Magic a unique identifier through which WallStreet FOREX Robot recognises and manages its own positions If you use other expert advisors on the same account please ensure that each of them has a distinct unique identifier EA_Comment you can type here a comment if you wish to mark the WallStreet FOREX Robot trades MaxSPREAD maximum allowed spread Slippage maximum allowed slippage StealthMode true false a mode which conceals stoploss and takeprofit levels in program logic making them invisible to brokers If you use this mode the stoploss and takeprofit orders are not located in the trading server In this case if your trading terminal is not connected or the robot is not working your orders would not be protected CloseOnlyOnProfit true false when this mode is enabled positions close to system signals only when they are in profit or where stoploss may be reached If CloseOnlyOnProfit false default positions close to system logic even it is on a loss NFA true false use true if your broker is NFA regulated No_Hedge true false use true if you wish to cancel all hedge trades StopLoss proximity to stoploss levels in standard 4 digits pips
20. to change any settings On no account multiply TakeProfit and StopLoss values by 10 if your broker offers five digit quotes We do not recommend that you launch and close your trading terminal too often Ideally it ought to work without interruption from market opening on Monday to closure on Friday For problem free operation use a computer with a minimum configuration 1 5 GHz processor 1 GB RAM and Windows XP Windows Vista or Windows 7 operating system Maintaining a stable internet connection is of the essence to ensure reliable WallStreet FOREX Robot operation It is the spreads offered by your broker that chiefly determine how much profit you can make by using WallStreet FOREX Robot The recommended spread for EURUSD is under 2 pips for GBPUSD under 3 pips and for USDJPY under 3 pips Be on the lookout for brokers who steal pips and who try to fulfil each order at a price which is less favourable to you by 1 or 2 pips This way advertised 1 pip narrow spreads can easily work out at 3 or 5 pips thus reducing profits made by WallStreet FOREX Robot Be particularly cautious of new brokers who advertise aggressively on the internet The MetaTrader4 MT4 Trading Platform WallStreet FOREX Robot operates within the MetaTrader4 trading platform MT4 is a free trading platform available through most forex brokers If you do not have MT4 installed on your computer you can download a copy by going to one of
21. u would need to restart it now Installation by copying After logging into the member zone with the username and password provided download WallStreetForexRobot ex4 file and the file WALLSTREET dll from your personal download page to a convenient location on your computer Copy WallStreetForexRobot ex4 into the in the Experts folder within the MetaTrader4 trading terminal directory After this copy the file WALLSTREET dll into the Experts Libraries folder within the MetaTrader directory If you did not close your MetaTrader4 terminal before WallStreet FOREX Robot installation you would need to restart it now IMPORTANT If your MT4 build is 600 or above follow the installation instructions from below 1 Identify your Application Data folder First you need to locate your Application Data folder of the MT4 To do this go to the File menu in the MT4 platform and click on Open Data Folder check out the image below 9 2 Place your robot files in the right location First thing to do is to open the MQL4 folder which is in the Application Data folder which you already see The next steps are very easy Place your WallStreetForexRobot_v5 0 ex4 file in the Experts folder inside the MQL4 folder Place your WALLSTREET dll file in the Libraries folder inside the MQL4 folder 10 3 Run the EA After you have successfully placed the files in the correct folder al
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