Forex Gold Investor: User Guide
Forex Gold Investor: User Guide
Forex Gold Investor: User Guide
User Guide
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Contents:
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GETTING STARTED
Before installing Forex GOLD Investor on your computer and commencing trading 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!
3. If you suspect that Forex GOLD Investor might be operating incorrectly, please halt
operations and contact us immediately!
Forex GOLD Investor 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.
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Forex GOLD Investor automatically recognises whether your broker offers two or
three-digit quotes for XAUUSD. You do not need to change any settings.
We do not recommend that you launch and close your trading terminal too often.
Ideally, it should work without interruption from market opening on Monday to
closure on Friday.
It is the spreads offered by your broker that chiefly determine how much profit you
can make by using Forex GOLD Investor. The recommended spread for XAUUSD is
under 40 cents (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. Be particularly cautious of new brokers who
advertise aggressively on the internet.
If you do not have MT4 installed on your computer, you can download a copy by going
to one of the following brokers and requesting a demo account:
www.thinkforex.com
www.tickmill.com
www.pepperstone.com
www.hfeu.com
www.alpari.com
This list is for reference only. We are not affiliated with any broker.
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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.
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The program will ask you to select the trade server to which it should connect. Click
Next. In the next window, click Finish.
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Your demo account is opened. Close MT4 so that you can install Forex GOLD Investor.
After logging into the member zone with the username and password provided,
download "ForexGoldInvestor.exe" from your personal download page to a
convenient location on your computer.
Install Forex GOLD Investor. 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
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Installation by Copying
1. After logging into the member zone with the username and password provided,
download “ForexGoldInvestor.ex4”, the “ForexGoldInvestor.dll” and the
“fxgoldlogo.bmp” files from your personal download page to a convenient location
on your computer.
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).
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:
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Place the “fxgoldlogo.bmp” file in the “Images” folder inside the "MQL4"
After you have successfully placed the files in the correct folder, all 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.
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ACTIVATING Forex GOLD Investor
You should activate your copy of Forex GOLD Investor for your demo and real
accounts through 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 Forex GOLD Investor licence is valid for three demo accounts and for one
real money account. 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 should activate your demo or real account even if you wish to backtest Forex
GOLD Investor.
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@forexgoldinvestor.com
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STARTING AND CONFIGURING
Forex GOLD Investor
After installing and activating Forex GOLD Investor, launch your MT4 terminal and
click Tools->Options.
At this stage, make certain that you have checked and unchecked all the boxes exactly
as shown below in order to ensure correct Forex GOLD Investor operation.
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Now, open the graphs for the currency pairs you wish to trade. We recommend Forex
GOLD Investor for XAUUSD (GOLD/USD) only. Select the 15-minute graph, М15.
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Now you are ready to place Forex GOLD Investor on the chart. In the Navigator
window, double click Expert Advisors to expand it. You should now see all Expert
Advisors including Forex GOLD Investor. Now, you can right click Forex GOLD
Investor and select Attach to a Chart, or alternatively simply drag Forex GOLD
Investor onto the chart.
After placing Forex GOLD Investor 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 Forex GOLD Investor from the Expert Advisor button at any
time.
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Forex GOLD Investor
SETTINGS
You can edit Forex GOLD Investor settings by right clicking anywhere on the chart and
selecting Expert Advisors -> Properties.
IMPORTANT: Forex GOLD Investor have a regular and a Simple version (two .ex4
files). These versions are almost the same - they use the same trading logic. The only
difference is that the simple version has fewer parameters to ease some customers. We
strongly recommend to use only one of these versions - either the Simple, or the
regular one. Do NOT attach both the versions in one account!
Forex GOLD Investor automatically updates its settings from our web server.
This means that you can relax: your forex robot is always trimmed to
prevailing market conditions.
WinLargeFonts true/false: use "true" to adjust the robot information box display in
case you are using the Windows Large Fonts.
EA_Comment: you can type here a comment, if you wish to mark the Forex GOLD
Investor trades.
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Basic Rules
ManualGMT_Offset: For this parameter you have to set the winter GMT offset of
your broker. This parameter is very important in case that you have disabled the
AutoGMT_Offset=false and when you backtest the Forex GOLD Investor. If you set
wrong value, then you may get unexpected results.
DST_Usage true/false: If your broker shifts the GMT_Offset with +1 hour in the end
of March and change it back in the end of October, you should set DST_Usage=true for
live trading. This is important for the correct functioning of the second trading system
(System2).
No_Hedge true/false: use "true" if you wish to cancel all hedge trades.
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- If the value is greater than zero (a positive value) the robot will use “Limit” orders
with a distance from the market price equal to the PendingOrderDist value in
cents.
- If the value is lower than zero (a negative value) the robot will use “Stop” orders
with a distance from the market price equal to the PendingOrderDist value in
cents.
Generally, we recommend using market orders, but we’ve designed this functionality to provide
an additional flexibility to those our users, which would be interested to experiment. As an
example, if you notice that your broker executes the market orders with a great slippage, you can
try using Limit, or Stop orders. The Limit orders would help to open the trade on a most
favourable price, but you can miss some of the trades. We recommend this functionality only for
advanced traders, which are capable to make their own backtests and optimisations.
StopLimitExpire: this value (in minutes) manages the pending orders expiration in case
you are using the Pending Orders functionality.
Extra Rules
MaxAccountTrades: using this parameter you could limit the number of
simultaneously opened trades in your account. The default value is zero, which means
that by default this option is disabled.
MaxAccountDD: the maximum allowed drawdown for the account in percent. The
option activates at values greater than zero. This option is based on the current
drawdown, which is the difference between the current account balance and equity.
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.
If you decide to use the "FridayExit" option you should set "LastTradeHour" and
"ExitHour" several hours before the market closing of your broker on Friday.
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System 1 Risk Management
Bear in mind, that different brokers can have different lot size definition for the GOLD
pairs, so be extremely careful choosing the lot size, or the Auto MM value. We strongly
recommend testing those values on a demo account on the same broker, before any
real money trading.
FixedLots1: the extent of the fixed trading volume. If you use AutoMM>0, the value of
the FixedLots1 parameter does not matter.
Bear in mind, that different brokers can have different lot size definition for the GOLD
pairs, so be extremely careful choosing the lot size, or the Auto MM value. We strongly
recommend testing those values on a demo account on the same broker, before any
real money trading.
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RecoveryMode2 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 > 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 =1 or lower.
FixedLots2: the extent of the fixed trading volume. If you use AutoMM>0, the value of
the FixedLots2 parameter does not matter.
Add_Lot_Multiplier: the factor of the trading volume multiplier for the additional
trade/s of system 2.
Examples:
- If Add_Lot_Multiplier=0.5 the trading volume of the second trade will be
increased with ½ the volume of the initial trade.
- If Add_Lot_Multiplier=1 the trading volume of the second trade will be increased
with the volume of the initial trade.
- If Add_Lot_Multiplier=2 the trading volume of the second trade will be increased
with two times the volume of the initial trade.
System 1 Settings
Sys1_LongOnly true/false – by default system 1 opens both long and short trades. If
you want to disable the short trades, change Sys1_LongOnly to true.
Magic1: a unique identifier (for system 1) through which Forex GOLD Investor
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.
Important: StopLoss and TakeProfit have default values of zero (0). When the default
value is selected, Forex GOLD Investor 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, Forex GOLD Investor shall use the
StopLoss and TakeProfit values set by you.
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System 2 Settings
Magic2: a unique identifier (for system 2) through which Forex GOLD Investor
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.
Sys2MaxOrders: the maximum number of trades that system 2 can open (one initial
and one additional trade).
Important: StopLoss and TakeProfit have default values of zero (0). When the default
value is selected, Forex GOLD Investor 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, Forex GOLD Investor shall use the
StopLoss and TakeProfit values set by you.
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
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Forex GOLD Investor
BROKER SPY MODULE
An insider look to the Broker behavior
The BROKER SPY MODULE compares the initial entry/exit price ordered from the robot,
with the actual broker execution price. The difference between the ordered price and
the broker execution price is the actual slippage.
If the broker is a correct one (and you are not trading news, spikes or other extreme scalping
techniques) the slippage could be either positive, or negative. In long term the average
slippage should be close to zero.
Unfortunately some brokers are literally stealing from their clients with tendentious
negative slippage without any objective market reason. This is why we’ve developed the
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BROKER SPY MODULE – to provide to our users this extremely important information -
an inside look to the broker’s behavior.
The BROKER SPY MODULE aggregates the whole important information of all trades
executed from the robot since it is started. All statistics is written on an external file, so
even if you restart the robot multiple times the statistics will not be lost.
If you change the magic number of the robot, the robot will create a new file and
the statistic will start from that moment. All statistics files from different magic number
initializations will be kept with the used magic number in the name of the file. If you
want to continue the statistics on some particular file you just need to initialize the
robot with the same magic number as is in the file name. The BROKER SPY MODULE
statistics files are located in the MT4 Data Folder->MQL 4->Files.
The BROKER SPY MODULE also provides important information about the average order
execution delay. The order execution delay could be initiated from the broker in low
liquidity conditions, or other objective reasons. Unfortunately in some cases some
brokers could use this tendentiously to steal their clients. In other cases the orders
delay could be caused by poor, or busy internet connection. However in all possible
scenarios this is a very important information to know. It could be considered as normal
if your order delay is below 500-700 ms in normal market conditions, unless you do not
get a tendentiously negative slippage.
In addition the BROKER SPY MODULE provides statistics for the average spread for all
moments in which the robot initiate a trade signal.
Here is what exactly the BROKER SPY MODULE (BSM) statistics show:
The values in the brackets represent the extracted from the BSM history file data, from
all previews initializations of the robot. The values outside the brackets represent the
statistics since the last initialization of the robot.
First Trade – the date and time of the first trade from the statistics.
Last Trade – the date and time of the last trade from the statistics.
Total Errors – the total number of recorded errors for all type of orders
Total Entry Slippage – the total slippage from all market and all activated pending
orders in cents.
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Average Slippage – the average slippage from all market and all activated pending
orders in cents.
Average Speed – the average time delay for accepting of all type of orders in
milliseconds (ms)
Exit Signal Trades – the total number of successfully executed exit market orders
Total Exit Slippage - the total slippage from all exit market orders in cents.
Average Slippage – the average slippage from all exit market orders in cents.
Average Speed - the average time delay for accepting of all exit market orders in
milliseconds (ms)
Average Spread – average spread for all trading signals generated from the robot in
cents.
Last Signal Spread – the spread for the last trading signal generated from the robot
High Spread Count – the total number of cases in which the trade is canceled due to
high spread, considering the MaxSPREAD setting.
Another great future that the BROKER SPY MODULE provides is that you can use it as a
test tool to check the behavior of your broker. For this purpose we’ve developed special
“high frequency” trading settings. The only thing you need to do is to start Forex GOLD
Investor with the minimum possible lot size and changing UseCustomPair to
“true” and UseSettingsFrom to XAUFST (capital letters). This way the robot will
execute about 20-30 trades a day. The average profit expectancy of these settings is
minus one spread, so if you let the EA trade for one day (24 hours) the expected loss
will be several dollars, but you will have an invaluable information about your broker
behaviour. 20-30 trades are enough to get the information you need, so we recommend
using this future for several hours, under your supervision.
PLEASE, USE THIS FUTURE WITH CAUTION, DEFINING THE MINUMUM LOT SIZE
AND BEING FULLY AWARE OF YOUR ACTIONS!!!
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BROKER SPY MODULE
SETTINGS
BSM_Alerts true/false: use True, if you want to activate the Broker Spy Module alerts.
If your account is significant in extent and importance and if you do not wish to take
unnecessary risk, then you should settle for AutoMM values between 1 and 5 percent
risk per individual transaction. In such case, you may expect a return on investment in
the order of 10 to 100 percent 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
percent per individual transaction. In such case, you may expect a return on investment
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in the order of 200 and 1000 percent 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 percent
(AutoMM=5), and for a good reason. Assuming 5 percent 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.
Generally, we recommend using AutoMM=5 for System 1 and AutoMM=2 for System 2.
In theory, this should not be a major risk for your account.
If you are using the “RecoveryMode” function of the automatic money management, we
recommend AutoMM<2 for System 1 and AutoMM<1 for System 2.
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HOW TO BACKTEST
Forex GOLD Investor
Please, do not forget to activate your demo, or real account, even if you only
wish to backtest Forex GOLD Investor!
If you wish to back-test Forex GOLD Investor, first you should download history from
the MetaTrader history center: click Tools -> 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 "Forex GOLD Investor ", chose XAUUSD, chose M1 timeframe, chose the method
"Open price only...", as shown below. Click "Start" to start the back-test.
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Important notice: If you make a back-test and at the same time you have Forex
GOLD Investor 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 same MataTrader 4 terminal, which you use for live trading!
We strongly recommend that you operate a demo account before trading with
real money. This will help you become familiar with the way Forex GOLD
Investor operates before you commit genuine funds to a real money account.
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Terms of Use and Risk Disclosure
By using Forex GOLD Investor, 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 Forex GOLD Investor 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
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