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by Rita Lasker
www.FishForexRobot.com Last update July 21, 2010
Installation and Setup Fish Forex Robot is a plug-in that requires MetaTrader 4 to function. If you already have MetaTrader 4 installed, place the file FishForexRobot_v1_51.ex4, which you have purchased from www.FishForexRobot.com, in C:/Program Files/xxxxx/experts, where xxxxx is the name of your MT4. For example, the MT4 from FxPro is called FxPro - MetaTrader, and the complete path will look like this: C:/Program Files/FxPro - MetaTrader/experts Relaunch MetaTrader 4 and skip to Step 3 below. If you do not have MetaTrader 4 installed, you need to download it from a Forex broker web site. We recommend using only well known, reputable brokers that have been on the mark for a long time and provide leverage 1:400 or 1:500, such as: FxPro http://fxpro.com
Alpari UK http://alpari.co.uk
Follow the links above, choose your Forex broker, and download MetaTrader 4 for free. After you download MetaTrader 4, install it on your computer. This is a standard and simple operation. Setting up Fish Forex Robot Step 1 After the installation of MetaTrader 4, place the file FishForexRobot_v1_51.ex4, which you have purchased from www.FishForexRobot.com, in C:/Program Files/xxxxx/experts, where xxxxx is the name of your MT4. For example, the MT4 from FxPro is called FxPro - MetaTrader, and the complete path will look like this: C:/Program Files/FxPro - MetaTrader/experts Step 2 Launch MetaTrader 4 by selecting it from the Start menu. When the application launches, it presents a window in which you need to enter your demo account details. Carefully fill out all the fields. Selecting the “I agree to subscribe to your newsletters” checkbox makes the OK button available. Once you have filled out all the fields, click OK.
When you click OK, your demo account will be registered and you will be signed in with the system with your demo account details. Your account number is displayed on the left of the window title. If you see it there, it indicates that your account has been registered successfully and you have logged in the system.
Step 3 Take a look at the Navigator panel on the left of the main window.
The Navigator panel displays all the accounts, indicators, expert advisors, custom indicators, and scripts available to you. Let’s focus on Expert Advisors for now. If you followed the simple instruction above, you should see FishForexRobot_v1_51 under Expert Advisors.
If you don’t see it there, please make sure you have placed the file FishForexRobot_v1_51.ex4 in the correct folder, as described above. Relaunch MetaTrader 4 and check Expert Advisors again. If FishForexRobot_v1_51 is still not listed there, contact our technical support via email at support@FishForexRobot.com
Step 4 Please use EUR/USD pair, H1 Timeframe ONLY. Maximize the EUR/USD graph and drag FishForexRobot_v1_51 from the Navigator panel onto the graph window. A window with the robot settings appears. Make sure you select the checkbox labeled “Allow live trading” in the Common tab. This will allow the robot to place orders automatically.
In the Inputs tab, you’ll find the variable parameters of the robot:
Lot1Size - the absolute size of Initial order NewYorkShift - time difference between your terminal time and the New York time (EST) LotRatio - the ratio of Initial and Adjustment orders. With the setting of 1 - the volume of Adjustment order will be equivalent with the volume of Initial order. With the setting of 5 - the volume of Adjustment order will be 5x than the volume of Initial order. SL2BUY - Stop Loss of Adjustment Buy order SL2SELL - Stop Loss of Adjustment Sell order Magic - the unique number of the robot
Note: Be careful. Increasing the size of the first lot will maximize your profit, but small initial deposits (up to $200–300) also increase the risk of financial losses during the execution of the adjustment order. Important: Make sure you set the correct time difference between your terminal time and the New York time (EST) in the NewYorkShift field. If you are not sure what your terminal time is, ask your Forex broker. Your terminal time may be different from your time zone. Also you can do this: • • Switch for M1 timeframe (choose M1). Look at the lower right side ot the chart. You can see DATE and TIME of MetaTrader. Go to: http://24timezones.com/world_directory/current_new_york_time.php Look for "current time in NY" Define the difference between TIME of MetaTrader and NY TIME. This is the "NewYorkShift" itself.
This is the right way to set robot's time properties
Warning! Please, use only EURUSD pair, H1 timeframe. If you are feeling a strong desire to try our robot at some different pairs or timeframes, YOU ARE TO change the Magic. The main problems of incorrect work of the robot (just like unexpected opening of the Adjustment order) lay exactly in the same Magic for the robot set at several charts.
Some recommendations about Initial lot volume The optimal volume of Initial lot doesn't depend directly on the leverage provided by your broker. Though there may appear a situation when the opening of the Adjustment order is impossible due to the high Margin caused by the low leverage. To simplify your setting of the Lot1Size, we advise you the following ranges: With the leverage 1:100 and 3x Adjustment order, Lot1Size should not be higher than 1/10000 from the size of your deposit. For example, with the deposit of $1000 Lot1Size = 0.1. This is an optimal level. With the leverage 1:500 and 3x Adjustment order, Lot1Size should not be higher than 1/2000 от from the size of your deposit. For example, with the deposit of $1000 Lot1Size = 0.5. This is an optimal level.
We insist on your trying the robot work on a demo-account or micro lot trading for at least 2-3 weeks. This will allow you to find the most suitable risk level and set the robot work correctly. Click OK. Switch for H1 Timeframe.
Step 5. In the top right corner of the terminal window you should see the name of the robot with a cross next to it. This indicates that your robot has been activated but your terminal does not allow algorithmic (robot) trading.
To allow robot trading, click Expert Advisor in the toolbar.
Once you click Expert Advisor, a smiley face will appear next to the robot name, instead of the cross.
Great. You have successfully installed, set up, and launched the robot. Now it will trade, open and close order automatically and completely independently without any intervention on your part. You can watch the results of its work in the computer screen. As a rule, the results become visible starting on 15:00 EST. The bottom part of the window displays the trading and their results in two tabs: Trade and Account History.
If you do not see the tabs, press CTRL+T on the keyboard to display the trading window. Good luck with your trading! A Few Pointers Regarding FXDD and Forex.com brokers We were testing the Robot using FXDD, Forex.com with the deposit of $15000 because these brokers provide the only leverage 1:100 (no bigger). If you can invest such deposit - everything works OK. But nobody is interested in getting $50-100 daily after investing $15000. If you put $1000-2000 you have to change Robot's properties - first, set the lot size 0,1. In this case the Robot will execute initial order of course. But if the initial order will be closed by SL, the second (adjustment) order will not be even open because of such small deposit (according 1:100 leverage parameter). The second problem - FXDD and Forex.com have some different rates (it's known common problem). Moreover Forex.com doesn't provide rates history older than March, 8, 2010 so you can not do the backtest.
That's why we recommend to use brokers which provide the leverage 1:400 1:500 For example – you can open Alpari UK (or FxPro) demo account , try Fish Forex Robot and have quite good profit. When placing the minimum deposit (up to $200), we highly recommend that you do not increase the size of the first lot (Lot1Size) in the robot settings. This may cost you financial losses. But of course, this is all up to you. Make sure you set the correct time difference between the terminal time and the New York Time (NewYorShift). If you do not set the time difference, the robot will place orders at wrong times, which will result in incorrect operation and more financial losses. NewYorkShift settings for some brokers: FXDD Alpari UK Galant FX Varengold Fox Go Trader 7 6 5 6 6 FX Solutions One Corp FX MIG Bank FXCM FXOpen 0 5 6 5 7 InstaTrader BFX trader FXPro ActivTrades Interbank FX 7 5 7 6 4
The Proof Is in the Pudding Take a look at the results of the back test of our robot for the period of October 2009–April 2010.
We are certain that your income will grow as steadily as in this graph for a long, long time. Good luck with your trading!
If you have any questions, please feel free to ask our support team by sending an E-mail to: support@RitaLasker.com We will do our best to help you.
Yours, Rita Lasker & Green Forex Group. www.FishForexRobot.com July 2010
Any additional information: http://www.RitaLasker.com Contact Information: http://www.RitaLasker.com/contacts.htm ALL Green Forex products: www.RitaLasker.com/products.htm
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