TraderBot Marketplace Product FAQs
I have a $500 account. Can you make $1 Million for me?
This is one of the most absurd statements on the internet. There are all kinds of bogus scams that tell you THEY will make guaranteed returns on your money. Sometimes the returns they promise are in the thousands of percents. This is just not true. You can become profitable. There have been many traders who went from a super small account to wealthy in a short amount of time. We look at long-term growth here and take a slow and steady course.
Can you take a $500 account to $1,000 in a year? This is a 100% return. Of course you can. Whether or not you do it is up to you. Ryan averages between 20% and 80% per year.
I am looking for a way to make extra money. What is trading?
Trading is the act of buying and selling securities with other traders. Traders are the engine behind the stock markets of the world. The stock markets are what drives the economy in every country on Earth. Trading is risky as well as potentially rewarding. One thing is for certain; you will never have to find a customer to sell to, like a traditional business, because there is always a market.
Do you have customer service?
Yes we do. Clients have access to us in our chat rooms every day. We often do one on one sessions with clients. We hold webinars and help in any way we can if time permits. Talk to us on FaceBook at facebook.com/groups/joaquintrading , or send an email to firstname.lastname@example.org, or chat with us from the little button on the lower right-hand corner of your screen (on desktop).
Do you accept clients from any country?
We accept clients from any country that the United States is allowed to do business with. We can’t accept clients from North Korea, for instance.
Most traders from any country can trade forex.
Only traders from select countries can trade regulated binaries. Check with Nadex or Cantor Exchange directly.
Is there risk involved in trading?
Yes. Trading is risky and you can lose all of your investment. Past performance is not indicative of future results. As with any business, there is a very high rate of failure.
REQUIRED US GOVERNMENT CFTC DISCLAIMER
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.
How is this business different from any other business opportunity?
In a typical business opportunity, you have to sell a product or service to customers that you must find. In trading, there is always someone to buy from or sell to. You don’t have to look for customers. You don’t need to rent office space. You can trade from anywhere in the world. Trading gives you the freedom that most businesses do not offer.
Do you have losing weeks?
Of course we do. We had 5 losing weeks in 2016 and 47 profitable weeks. We had even more losing weeks in 2017. It’s all about the over all growth and not a handful of crappy trades. The losing weeks drop equity about twice as much as winning weeks but they recover and profits continue to mount. We look at the long-term equity growth and do not rely on the trades of one day or one week.
How long will it take me to learn?
This depends on how dedicated you are. It can take as little as a few weeks and as long as multiple years. Buckle down and learn. We will help you every step of the way. Take our free trading course and you will shave years, literally, off your learning curve. Everything we do is designed to make your life more simple, not more complicated.
Is trading hard?
The emotional and mental aspects of trading are difficult. The learning of systems and strategies are about low to mid college level. Most people will be able to grasp the concept in a short period of time. There is a small minority who will not be able to grasp the concept.
Once you take our free course, you will be better equipped to know about the pitfalls most people encounter in trading and how to deal with them. Trading is just like any other business; If you do it right, you have a better probability for success.
I see a lot of 100% winner services out there. What about yours?
If you see ANYONE who promotes 100% winners all of the time, run away because they are feeding you a line of baloney malarky poo faced nonsense! We have had stretches of 100% winners for months at a time but nothing is 100% forever. A lot of marketers would like you to believe that but here is a question I propose… If something was guaranteed, why don’t the sellers of this system use it and own everything on Earth?
Can you recommend a broker who offers a bonus?
No. Brokers who offer bonuses will often steal your money. Read the fine print. What we can offer you are rebates on your trading fees. Why pay the full trading fees that suckers pay when you can get rebates on every trade you take? We don’t make a dime on this service but its just a value and we are happy when you are happy.
Rebates for U.S. clients – http://www.forestparkfx.com/
Rebates for international clients – www.forestparkfx.internationa
Do you offer a trial?
We offer a low-cost way to enter the market and trade with our products. We do not offer a free trial at this time. In the past, we have offered trials and we got shafted every time we tried. Our products, overhead, and services are not free and they never will be. We will give you free tools though. Just click HERE!
What is your refund policy?
We don’t really have one because not too many people have asked for a refund over the years. Here is my personal guarantee.We stand behind our products though so if you feel a refund is in order, contact us and we will work out something with you. We want you to feel comfortable that you are getting value for your money.
Where can I open a demo trading account?
You can open a demo account with Oanda.com for forex or any other broker. We don’t give a flip what broker you use. Just be aware that if you are a U.S. citizen, please use a U.S. based broker who is regulated by the NFA or CFTC.
Our preferred brokers. (We do not receive any compensation from these.)
Nadex.com – Binary Options and Spreads
Cantorexchange.com – Binary Options
Oanda.com – Forex on MT4
AMP Futures – Futures on MT5
Where can I open a live trading account?
We recommend forestparkfx.com or any other broker. We don’t give a flip what broker you use. Just be aware that if you are a U.S. citizen, please use a U.S. based broker who is regulated by the NFA or CFTC.
Our preferred brokers. (We do not receive any compensation from these.)
Nadex.com – Binary Options and Spreads
Cantorexchange.com – Binary Options
Oanda.com – Forex on MT4
AMP Futures – Futures on MT5
Does your software work on any computer?
We prefer windows based computers. It can work on a Mac with 3rd party programs. I am not a Mac guy but I will help any way I can.
Does your software work with any forex broker?
TraderBot Marketplace products work on any MT4 trading terminal and most forex brokers offer this terminal.
Do I have to pay any additional fees to MT4 to use your products?
No. You do not have to purchase any 3rd party software, except a VPN to run the auto traders if you choose to do this.
Do you have to run the auto traders through a VPN (Virtual Private Network)?
You don’t have to with a demo account. With live accounts with a high balance, we do recommend it but it’s totally a personal preference. We can talk about this more after your purchase.
Ryan, Chris, and Terry all have a VPN account for their personal automated trading.
Can I trade with any binary options broker?
No. The only binary options we deal with are CFTC regulated exchanges…
Does your software work on stocks, options, cfd’s, and futures?
As long as your brokers offer it, our probability Tools will work. Our auto traders are designed for forex only.
When do your signals come out?
Manual signals come out every trading day during normal New York hours, for the most part. Auto Trader trades come out anytime, day or night, but the software will place trades for you. Binary Options signals come anytime and you can even tailor them to suit your needs…ie… you can choose any time you want signals to come.
Can I get signal alerts on my phone?
Yes. We have a chat application that will alert you every time a signal is generated. This application is called Slack Chat and can be downloaded from the Android or Apple stores. You can also receive PUSH alerts on your phone for any signal you set up. You can also set up email alerts. However you want them, there is a way.
Will I need to learn, in order to succeed in trading?
You will need to understand basic concepts and terminology. You do not have to learn everything about the market in order to succeed. If you will take our course, which is available to anyone free of charge, you will be well on your way to understanding the market. To take the course, just register for a free account and you will be able to access it inside of your dashboard.
Where can I find your free trading course?
Can you just manage my money for me?
Not at this time. There is too much regulation involved. We are thinking about it though.
How much should I invest to start and will the profits cover my monthly fees?
Start small with anything. Demo first, then move to live trading after you are comfortable with the progress.
Read this blog post https://traderbotmarketplace.com/can-cover-auto-trader-costs/
I work 9-5. I don’t have time to trade. Can you help?
You may want to take advantage of our auto traders. This software will trade for you, even while you sleep.
You can also set up signal alerts to only send signals when you are home.
I like to watch Netflix. I don’t want to learn how to trade. What can I do to be successful?
Get up off your rear and do something. There is no room for extreme laziness in the markets. It doesn’t take a lot of time but it does take effort on your part. If you are not willing to learn, we are not willing to help.
If you ARE willing to learn, we will bend over backward to help you.
MetaTrader 4 FAQ
Q: How do I open/install an MT4 account?
A: Open an account with a broker that offers MT4 as a trading platform. For U.S. citizens it is recommended to go through ForestParkFX.com and open with one of the two brokers (Forex.com or Oanda) offered through them. If going through ForestParkFX, complete the steps required. Each broker has a download page for MT4 from which the platform can be downloaded. Once you download and run the file, follow the prompts and MT4 will install. When the platform comes up, MT4 will prompt you to enter the username and password provided by your broker. If you do not have one and would like to open a demo account, click File/Open An Account/Next. Follow the prompts to enter your information, and a demo account will be created for you.
Click the button to download MT4 from Oanda.
Q: How do I change my password?
A: Go to Tools/Options/Server. Click “Change” and enter your old password (given to you upon the account creation or provided by your broker) and then choose a new password, confirming it.
Q: How do I load my data history?
A: Go to Tools/History Center. Expand the symbol to show all subsets and click on the subset you wish to download (the timeframe doesn’t necessarily need clicking). Then, click Download (click “Ok” to any further dialog boxes). It is recommended to do this for each of the 28 crosses that TraderBotMarketplace’s EAs use. They are: EURGBP, EURAUD, EURNZD, EURUSD, EURCAD, EURCHF, EURJPY, GBPAUD, GBPNZD, GBPUSD, GBPCAD, GBPCHF, GBPJPY, AUDNZD, AUDUSD, AUDCAD, AUDCHF, AUDJPY, NZDUSD, NZDCAD, NZDCHF, NZDJPY, USDCAD, USDCHF, USDJPY, CADCHF, CADJPY, and CHFJPY.
We have a tool that will load ALL of your data for you. It is just a little script you can install once you become a member. Here is how it works…
Step 1: Download the TraderBotMarketplace_MajorPairs_Prep
Step 2: Install it in your MT4 script folder.
Step 3: Subscribe to all the major pairs. There are 28 of them.
Step 4: Pull over the TraderBotMarketplace_MajorPairs_Prep onto a chart and click OK.
Q: How do I install EAs/Indicators?
A: Go to File/Open Data Folder/MQL4; this is the terminal path to your MT4 platform. Any EA will need to be copied to the Experts folder; any software which executes trades is considered an EA. Indicators must be copied to the Indicators folder. If you have MT4 open, close it and restart it.
Q: How do I load an EA/Indicator?
A: Ensure the Navigator window is displayed (i.e. either View/Navigator Window or button with folder/star). Find the EA/Indicator desired; click and drag it onto the chart needed.
Q: How do I enable auto trading?
A: There are two ways, either of which is needed before an EA can take trades automatically. 1) Click the “AutoTrading” button at the top of your platform. You’ll know it is enabled if the button is depressed and contains a green circle (and any EA will display a smile in the upper-right corner of the chart). 2) Go to Tools/Options/Expert Advisors, ensure the box “Allow automated trading” is checked.
Q: How do I open a chart/change symbol?
A: There are two ways. 1) Go to File/New Chart and choose the symbol desired. 2) Ensure your MarketWatch window is displayed (if not, press the button at the top with the green/orange arrows). Then, locate the symbol desired. If you want that symbol to override your current chart, drag the symbol onto your current chart; if you want a new chart entirely, click and drag the symbol above the chart window.
Q: How do I find a symbol not shown in the Market Watch?
A: Right-click in the Market Watch window, then Sets, and choose the symbol set associated with the desired symbol.
Q: How do I change timeframes?
A: Click on the time-frame button associated with the time-frame desired on the Time-Frame toolbar. If the toolbar is not available, go to View/Toolbars/Time-Frames.
Q: How do I open a custom timeframe?
A: Consider the interval in minutes you want to your custom timeframe to be. Load the script (scripts are loaded in the same manner as an EA/Indicator) PeriodConverter onto a chart with a minute interval divisible by the desired time-frame (i.e. want a 20 min chart, load it onto a 5 min chart). In the script input, enter the multiple of the chart’s time interval to equal the desired timeframe (i.e. Period multiplier factor = 4 to get 20 min). Leave the chart running with the script and go to File/Open Offline, then locate the newly created timeframe for the symbol in question and open it. When the script and/or the chart with PeriodConverter is closed, the offline chart will no longer update.
Q: How do I scroll a chart?
A: Ensure the scroll button (i.e. contains a green arrow with a xy axis) is turned off. Using your mouse the chart can be moved to the left/right. Keeping the scroll button on will fix the chart at the current day’s price. To go back to current price movement quickly, you can toggle the shift button (i.e. contains a red arrow to the right of the scroll button). It is recommended to scroll back at least 24 hours worth of data for each new chart timeframe & symbol that is loaded on an MT4 instance.
Q: How can I set up a chart to look differently?
A: Right-click on the chart, go to Properties. Change the colors for the desired elements of the chart on the Colors tab. On the Common tab, you can further adjust the appearance. Keep in mind you will need to customize each chart you wish to make changes. For a more convenient method, it is best to set up a template.
Q: How do I create/load a chart template?
A: To create a template, first follow the steps in the question above (i.e. How can I set up a chart to look differently). If you desire an EA/indicator to load with a template, add them to the chart. Then, go to Charts/Template/Save Template, and save it. To load a template, go to Charts/Template. You can choose the template from the menu given or Load Template from the Windows Dialog. You can set the default template desired by creating/choosing the template and save it as “default.tpl”. A series of charts and templates can be collectively saved in what is known as a profile.
Q: How do I load/save a market profile?
A: To set a profile, ensure all charts with templates (and any indicators/EAs on the appropriate charts) are in play. To save a profile, click on the bottom of the chart where text is displayed in the middle (the tooltip will show “Current profile”) and choose “Save Profile As…”. To load a profile, click on the bottom of the chart where the text is displayed and choose a profile from the menu given. These same options can be done via File/Profiles.
Q: How do I place a market order?
A: Click on the New Order button at the top of the platform. Ensure the Type has “Pending Order” chosen. Choose the Type of pending order needed and the price in which the pending order is to set. In the dialog, set the Volume, Stop Loss, and Take Profit (ensure appropriate prices are chosen for the direction). There is also the additional option to set an expiration for the order to expire. Then, click Place. Keep in mind some brokers have minimum distances for stop losses and take profits from the bid/ask.
Q: How do I place a pending order (i.e. stop or limit orders)?
A: Click on the New Order button at the top of the platform. In the dialog, set the Volume, Stop Loss, and Take Profit (ensure appropriate prices are chosen for the direction). Ensure the Type has “Instant Execution” chosen. Then, choose Buy/Sell. Keep in mind some brokers have minimum distances for stop losses and take profits from the bid/ask.
Q: How do I manage/close orders?
A: There are two ways. 1) Right-click the order on the chart, choose Modify or Close. For modifying, you can adjust the order parameters in the Dialog which comes up, assuming appropriate parameters for the direction. 2) Ensure the terminal window is displayed (if not, go to View/Terminal). Click on the Trade tab on the terminal window. There, any open or pending orders will be displayed. Right-click on the order and a series of options will come up to modify, close, or set a trailing stop to the order. Any modifications available will come up in a dialog box. Orders can also be closed in the terminal window by the “x” on the very right, though you may have to accept “one-click trade” conditions.
Q: How do I turn off/on sounds, such as alerts?
A: Go to Tools/Options/Events. For each sound that requires changing, click the bell next to the sound type. If you want silence, ensure a red “x” sits on the bell; for the sound to be enabled, ensure no “x” sits on the bell.
Q: How do I set up an email account on MT4?
A: For this option, you will need a Gmail account (these are free and can be opened via Google) in addition to the email address in which you intend to receive email alerts. Once you have a Gmail account, go To Tools/Options/Email in your MT4 platform. Ensure the “Enable” checkbox is checked. Enter your Gmail email address into the “SMTP Login” and “From:” fields. The password should be the one associated with the Gmail account. In the “To:” field, enter the receiving email address. Once you click “Ok”, you will need to restart your MT4 platform and re-open it. To get a test email, go back to Tools/Options/Email and click “Test”. Note, it can take up to 5 minutes for the email to arrive; if MT4 sees an issue, it will print a message in the Journal tab of the Terminal window. Finally, check your receiving email account for the test email sent.
Q: How do I set up push notifications on MT4?
A: Download the MT4 app (can get it from Google Play). Once installed, you will need to login into your existing account. Then, go to Messages from the main menu. At the top of the screen you should see a “MQID” at the top. Here, your MetaQuotesID is shown; this will be used to sync your mobile with the platform. Return to your MT4 platform on your PC. Go to Tools/Options/Notifications. Ensure both boxes are checked (i.e. “Enable Push Notifications”, “Notify of trade transactions”) and copy your MetaQuotesID provided by your mobile. It is recommended to send yourself a “Test”.
Q: How do I set up multiple installs of MT4?
A: During a new installation click settings
Next, append a descriptor to the end of the file name. Ex: C:\Program Files (x86)\ Oanda – MetaTrader – Demo In this example we added “- Demo” to the default file name. You can use anything you like. (- Account#, – Robots, – Live, etc)
TraderBot Marketplace Tool Suite FAQ
Q: Where can the TraderBot Marketplace Tool Suite be found to download?
The TraderBot Tool Suite can be found in our chat room after you join the team. SImply log in and download. Install it and go!
Download the Tool Suite file and run it. The end. It is an .exe file and will load everything for you.
Q: What are the arrows for?
When you see a signal arrow pop up, this is an entry signal. The signal arrow will show you what direction to place a trade. In the picture above, we are looking at the Bollinger bands and the settings, inside the parameters state that we are looking to buy when price swings outside the bands and closes back inside the bands. When this happens, we get a signal arrow to buy.
Q: What is max win rate and max loss rate?
This shows you how many times a signal has been profitable in a row.
Consecutive outcomes will show you how many times in a row an outcome has occurred during the look back period. This is very useful for binary options as well as forex. If you know that over the past 100 trades, a particular strike has lost 4 times in a row (maximum) and you also see that the past 3 trades are losers on your particular signal, are you going to place that trade? Well the probabilities say that there seems to be a higher chance that the next trade may be a possible winner; and if not, then the next one may.
Q: What are the horizontal lines?
Each time a signal occurs, it will also print several horizontal lines. These lines dictate price points where price has touched, or expired, in the past. These lines will help you determine stop levels and profit targets. The levels can be changed inside the parameters window to any configuration you want.
Q: What is OTMLV1, ITMLV1, etc…?
ITM stands for ‘In the Money’ and OTM stands for ‘Out of the money’. There is another one you will see later on called ATM which stands for ‘At the money’.
These are typical options and binary options terms and can be used in forex as well, to help determine the probability that a certain price level will be touched or expired at a certain time in the future.
For example, I know that price has a 76% probability that it will not close at the first level ITM (ITM LV1) by expiration time. This allows me to think about where I should place my stop loss or close my trade.
Expiry is when you see the horizontal lines stop. It shows a time in the future, when a trade signal is generated, that price will either be above or below a certain level. Price will expire above or below the price dictated by one of the horizontal lines, a percentage of time in the past. This shows us our percentage that price will expire above or below a certain price level on a current trade.
Q: How far back can I look?
The default is 50. This means that the tool is looking back over the past 50 trades so the probabilities of price touching a specific level is based upon the past 50 signals.The probabilities will change, depending on how far in the past you want to look. You can look back as far as you want but do it in small steps because if you put in a number like 5,000, your MT4 platform might freeze up.
This ‘Bars to expiry’ is there so you can look back and collect data from the past signals it has generated. If you set it to ‘5’, then the tool will look back for the past 5 signals and show you all the information. If you input 100 trades, it will show you the past 100 signals. The longer you want to look back, the more data it needs to read. There should not be an issue with anything less than 1,000.
WARNING: If you set it this parameter at something insane like 5,000 or 15,000, you run the chance of your MT4 locking up. If this happens, you might as well go get lunch because your MT4 will be locked up for about 30 minutes.
Q: What is A,E,N,D? (This is outdated but I will leave it here for older versions.)
A = Alerts. Your platform will alert you with a sound and data box when a signal generates. This should work with all MT4 brokers.
E = Emails. Many brokers will send the alerts via email also. You will need to set this up with your individual broker.
N = Push Notification. Many brokers allow push notifications to your phone as well. You will need to set this up with your individual broker.
D = Draw Lines. In some of the tools, you can erase or see the horizontal lines with this button. If it does not work, you can manually change the color to make the lines disappear.
Q: Can I combine different tools?
You can but it is hard to read. You may have to move your charts around to fit the probability window on your chart.
Q: Can I load several tools on different charts?
Yes! Ryan does it all day every day!
Q: What trading platform do these tools work on?
Meta Trader 4 & 5 Platform
Q: My tools are not working. They say EXPIRED. What do I do?
Download a new version from inside the chat rooms. It literally takes 30 seconds or less.
Q: What is Expiry mode, Touch Mode, Touch and Retrace mode?
Touch and Retrace Mode – If I want to see how often price touches a certain OTM level and then retraces to close inside of that level, I can also choose that inside the parameters.
Touch Mode – This will show you how often price touches a level within a certain time frame. This is great with forex and binary option profit targets.
Expiry Mode – This will show you how often price expires beyond a certain level within a certain time frame. This is best with binaries.
Joaquin Trading Signals FAQ
Q: Do you offer Binary Option signals?
Yes we do. We offer straight binary signals every day. These are different than the forex signals.
Q: Where can the Signal Manager be found to download?
The signal manager can be found inside the chat room after you join the team.
Q: What time are the signals released each day?
The standard signals come out at 4 AM eastern standard time. The other signals come out all day.
Q: When is the trade canceled if not triggered?
If you are trading the 4am, Trades are closed at 4pm eastern if using the Signal Manager. Trades are closed by 4:45 PM if closing manually. Other systems will be talked about in the chat room.
Q: What are the stops and take profits?
A general rule of thumb is this: 50 pip stop loss is used for any non GBP pair and 100 pip stop-loss used for all GBP pairs. Profit targets are 10,20, and 30 pips. These are coded into the Signal Manager. There are other variations you can use as well.
Q: What trade type is used to take the signals?
Stop orders are used to take the signals.
Q: Does the PC have to stay on for the signal manager to work?
Yes and NO, if the pc is not on then the signal manager cannot reach the broker server in order to manage the trade. If you don’t want to leave your computer on, get a virtual private network. We use a company called Commercial Network Services and have 99.99% uptime.
Q: Which strategy is best to use, 10 pip method or 3 TP method?
The strategy to use is up to the trader. Both strategies are profitable. You will need to discuss once you are a member.
Q: If entry is missed can it still be taken?
If price has not hit entry yet or has not taken 10 pips then the signal can still be taken. If it has taken 10 pips then stay out.
Q: Is a VPS needed to take the signal trades?
No a VPS is not needed as long as the trade computer stays on and connected to the internet.
Q: How many trades per signal are released?
Each signal consists of 1-2 trades each per day. We offer more with our software.
Q: If using a robot from TraderBot Marketplace can the signal trades be taken on the same account?
If using an robot it is recommended that 2 accounts be used if broker is in the US. If broker I outside the US then it is up to the trader with consideration for his or her risk tolerance.
Q: Where are the signals?
The signals come inside our chat rooms.
Q: Are there days that there is no signals?
Yes, Days where there is important news being release there most likely will be no signal. Each news release is taken into consideration and an announcement is made within the signals slack chat channel.
Q: How do I install the Signal Manager?
Download the signal manager inside the chat room. Easy Peazy!
Q: How to take a trade using the Signal Manager?
Place the entry price into the appropriate box on the manager, either a buystop or sellstop. Click the corresponding button. Discuss when you join.
Q: Does the Signal Manager have to be used in order to take the signals?
No, the signals can be traded manually, traders preference.
Forex Robot Testing and Collaboration FAQ
Q: What is this robot trading stuff?
It is amazing when you start collaborating with others about ideas and theories. 2 minds are better than one and a hundred minds make everything just awesome. Trading is an art and the market changes. No robot will continue to perform forever so we have to continually change as the market changes.
We create robots and use them. As we are using them, we constantly try to improve our overall success and share this with you. Most robots we create are very impressive and we sometimes have one that does not perform as well as expected so we scrap it or attempt to make it work. Many many minds always keep us on making overall profits through the years.
If you have a theory, test it. If you have tested something and want to share, then share it with others. We always keep a baseline that you can adhere to but we also allow you to bring your talents to others, while training you along the way to think like a pro trader.
Q: Why is this for experienced traders only?
If you have been trading for a week, robot trading is not for you. You will need to have an overall understanding of the market before you begin with this group because this a fast paced environment. We move from theories to testing to live implementation very quickly and if you have no idea of the concepts we are talking about, then you will feel lost.
If you have a year or more of trading experience, profitable or not, then it should be ok for you to participate.
Q: Where can the Forex Robots be found to download?
The Forex Robots can be found inside the chat rooms once you become a member.
Q: What do the settings do?
A: Here is an example of things we talk about and implement…
All settings set as default for pairs excluded, trade hours, time frame filters, SL’s are to remain as the default settings because they are the optimal settings to be traded.
Use position sizing chosen as a basis for % below= If account balance is selected it will apply based off account balance.
%= This is the amount of risk per trade of your account balance if a loss or win occurs it applies the proper lot size needed per pair based off your SL.
Take profit= The distance from entry where the autotrader will set to close positions for profit.
Break even (without trail)= setting to true will allow the autotrader to set a BE where if price moves in your favor a certain amount of pips it will move the SL to your entry for that trade.
Break even after this many pips= The amount of pips price has to move from your entry before the BE is set.
Trail according to close below/above previous low/high= If true is selected it Allows the EA to trail your trade as price moves further into profit.
Start trailing this many pips AFTER break even= This is what you set for how many pips from entry you want the trailing feature to kick in and start trailing your trade.
Trail by this many pips= The size of pips you want the trail to follow price.
Close out percentage below & move stop to break even= If True This is if you want the EA to close a percentage of your positions after a certain amount of pips.
Using this percentage= This how much of your positions you want the EA to close out.
After this many pips= This is after so many pips from entry you want the EA to close part of the positions
Q: What should my risk be set to?
A: That is 100 percent traders preference. I can say what a risk profile is as an example. 1-2 percent of account per trade is low risk, 3-5 percent of account per trade is mid risk, Anything over that per trade is considered higher risk.
Q: Do I have to have a VPS?
A: If running live money, get a VPS since the robots require 100 percent connectivity or you risk having trades not manage correctly or at all. If demo then I say you are welcome to test them out on home computers so you get a feel for how they trade. If you need a reliable VPS, Visit these guys https://www.commercialnetworkservices.com/
Q: What time zone are the hours set to trade?
A: The times in the documents are broker hours so you would want to set the hours on the inputs to reflect EST time. Example: One of our robots trades 3am EST- 11am EST which the broker (Oanda) during those hours will show 10:00-18:00 so you will need to set the EA up to reflect your broker hours.
Q: How high are the Stop Losses?
A: Depending on which Robot you are using, the variation the SL’s will vary but on the higher SL settings, that trades the GBP pairs and they have daily ranges of over 200 pips so we allow those pairs breathing room for unexpected market movement against the trend if entered to end up reverting back to our entry and profiting.
35-100 pips is a normal stop loss range.
Q: Which broker works best with the EA’s?
A: Oanda. This is who we use. If you use a different broker, you will get different results.
Q: Should I keep trades over the weekend?
A: That is up to the trader. I personally don’t close trades out if any are open in the negative because I will let it either hit the SL or TP or if I move the TP to BE just to get out of the trade. You do have to be aware, however, that weekend gaps do occur and you don’t want to be on the wrong side when they happen.
Q: What are the average number of trades open at once?
A: Usually between 2-4.
Q: Is my account big enough the robots?
A: If you are trading on demo or with at least a $1,000 account, then Yes. If you have a lower account balance, then we will discuss that but just remember that undercapitalization can kill an account.
Q: Can I trade signals and auto-traders on the same Broker account?
A: I would not recommend running them on the same account due to different strategies behind each. Signals may call a buy where auto-trader could be a sell on a pair etc.. Not very likely but could happen. Another thing would be margin if you are in a trade from signals that is in draw-down and the auto-trader tries to enter new trades that ended profitable very quickly you would miss out because of margin or vice versa.