any one use a forex Bot?

[RAiMA]

I got a couple of questions Eagle, did you have to activate your FAPS? I'm not getting any alerts to activate it. And the other question is, can you run multiple copies on a server to speed up testing?

 

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[^eagle^]

I got a couple of questions Eagle, did you have to activate your FAPS? I'm not getting any alerts to activate it. And the other question is, can you run multiple copies on a server to speed up testing?

Yes, You have to get a Key from the FAP website once you download. Follow the instructional videos on the website to the letter to get your key.

If you are speaking of forward testing you can open many charts on the same pair and the same time frame or mix and match diffenrt charts and time frames. However FAP is designed to work on the M1 eur/usd. But i have found it works well on other majors such as aud/usd and nzd/usd. I've seen profitable results on usd/cad and have heard about good results from GBP/usd but have not personally used these pairs.

Other crosses do not produce good results. volatile pairs in paticular present problems for this EA. It likes long undulating trending charts the best, like the eur/usd during UK and US sessions.


persoanlly I have not done well with this EA because I have been tinkering with it and have also tried other EA's.

What I can say is that this is the Best EA I have worked with. Others I have tried just plain sucked. This one works well.

Best results I have gotten are to set the TP at 30 and allow two trades to open only if one trade exceeds a 100 pip draw down. If your TP is near Support or resistance and you happen to catch it I suggest you close the trade when it is positive. I sat two trades for two days and finally had to close one manually because it kept flirting with the tP (5X) then it would take off and leave it in the dust.

I trade a dime a pip on my 500 USD live account. I won't show my results becaus I have tinkered too much and made some bad trades as a result. The EA works fine. Too many people spend too much time trying to make it go faster. Myself included and I paid a price for it. Now I'm slowly digging out of the hole.



It's a conservative approach. Slow and steady wins the race witht his EA. don't get greedy or you will regret it.

 

[RAiMA]

According to the manual, the alert provides the expert id so I can go to the web site to activate it. Since I'm not getting alerts, so there another way I can get my expert id?

As for the testing, I want to create seperate accounts for testing. The main reason is, if I have multiple charts up with different parameters on the same account, I don't know which parameters triggered the transaction, so it becomes difficult to measure how successful a certain strategy is.

I can do it one at a time, but that's extremely time consuming.

 

[^eagle^]

According to the manual, the alert provides the expert id so I can go to the web site to activate it. Since I'm not getting alerts, so there another way I can get my expert id?

As for the testing, I want to create seperate accounts for testing. The main reason is, if I have multiple charts up with different parameters on the same account, I don't know which parameters triggered the transaction, so it becomes difficult to measure how successful a certain strategy is.

I can do it one at a time, but that's extremely time consuming.

You can email FAP support and ask for a universal EA. (I think That is what it is called) This EA requires no key. You just have to show them proof of purchase.

Once you have it downloaded you can attatch it to as many MT4 platform accounts you want. The only limit is your processor (s).


the MT4 platform has a strategy tester and an optimizer that can backtest differnet strategies that sre not manually adjusted. You can back test many different parameters and choose the most optimal.

 

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[^eagle^]

According to the manual, the alert provides the expert id so I can go to the web site to activate it. Since I'm not getting alerts, so there another way I can get my expert id?

As for the testing, I want to create seperate accounts for testing. The main reason is, if I have multiple charts up with different parameters on the same account, I don't know which parameters triggered the transaction, so it becomes difficult to measure how successful a certain strategy is.

I can do it one at a time, but that's extremely time consuming.

just a couple more things.

Make sure you have the following boxes checked.
Enable charts
allow live trading
Allow DLL imports
Allow import of external experts

As for multiple accounts FXDD has a multiple account platform for MT4 but I just found out about it and do not know how to set it up. seems to only work for demo accounts. When I have more time I will try to figure it out.

here's the link
MetaTrader Download Page | FXDD

 

[^eagle^]

Wow! Talk about a blast from the past. My Knowledge of the EA has dramticALLY IMPROVED. But my trading skills were right on three months into my journey. Had I only persevered instead of falling into "indicator wonderland" trying to re invent the wheel.

Chaos baby. what a game. From brain formation to tree growth to the forex market. It's all fractal.

4 yards at a time wins the game!

 

[alrefaee]

Not indicator wonderland, what was the winning formula?

Wow! Talk about a blast from the past. My Knowledge of the EA has dramticALLY IMPROVED. But my trading skills were right on three months into my journey. Had I only persevered instead of falling into "indicator wonderland" trying to re invent the wheel.

Chaos baby. what a game. From brain formation to tree growth to the forex market. It's all fractal.

4 yards at a time wins the game!

So if you didn't follow indicator wonderland, what was the knowledge you gained since then? Really interested in FOREX and starting out. What do you recommend to learn?

 

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[^eagle^]

I am currently going back to my roots as a scalper. I also do some swing trading but I found I am too impatient for that.

What I have found is that there is no need for any indicator or oscillator. Its all based on trends and support and resistance coupled with the knowledge of who is up and about trading.

I have indicators that draw support and resistance lines as well as trend lines for scalping. Im not there yet but with discipline and perserverance I will get there.

Im looking to average 1% a night scalping the asian sessions.

As far as robots I would suggest staying away from them. They make you lazy.

 

[alrefaee]

Best teachers are the ones who have done it already!

I am currently going back to my roots as a scalper. I also do some swing trading but I found I am too impatient for that.

What I have found is that there is no need for any indicator or oscillator. Its all based on trends and support and resistance coupled with the knowledge of who is up and about trading.

I have indicators that draw support and resistance lines as well as trend lines for scalping. Im not there yet but with discipline and perserverance I will get there.

Im looking to average 1% a night scalping the asian sessions.

As far as robots I would suggest staying away from them. They make you lazy.

Thanks for the tips. My internet has been acting up. Something sure to fix before trading. Wouldn't want to hold a position while it goes down.

1- So how are you doing on your 1% goal (which by the way, is 900% per year assuming 240 trading days).
2- Also, what do you recommend for me to learn. I'm a newbie to forex
3- When you say"who is up and trading", what did you mean? How can you tell who else is trading?
4- I am quite patient. What's the best approach if you're swing trading?

Thanks again... Your help is greatly appreciated!
Fadi

 

[^eagle^]

baypips.com/schoolForex Training Online: Learn Foreign Exchange (FX) Currency Trading

 

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[joeullrich]

What EA are you using ?

 

[joeullrich]

I am trading with an alpari us account. i have tried uploading an EA and trending software to my vps. Everytime I open the metatrader it crashes. I uploaded the same EA on a different broker and it works. Does anyone have any recommendations for a broker ?

 

[Guest3722A]

Does anyone have any recommendations for a broker ?

Direct Access Brokers

 

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[^eagle^]

I am trading with an alpari us account. i have tried uploading an EA and trending software to my vps. Everytime I open the metatrader it crashes. I uploaded the same EA on a different broker and it works. Does anyone have any recommendations for a broker ?

It depends on your equity. For a starter account(nano or micro) I recommend Liteforex.org. You can open an account for $1 but you should start with at least $100. For higher accounts (mini or standard)I would go with Dukascopy.

Thats for MT4 accounts anyway. Been running An EA on my lite forex account with no issues. Great beginners broker for forex. But for scalping go with Oanda. You will need at least $500 to start on OAnda's metatrader and there is no hedging. Execution on their FXtrade platform is excellent and you can start with about $100 to make measurable progress. MT4 is a little slower due to the bridge.