Login to the vpn.
Locate & right-click on the "Expert Advisor" section of MT4.
Click "Refresh" (your Gold EA will appear in that section).
Open a new Chart and change the time frame to M1.
Drag the Gold EA onto the chart or double click the EA to open the EA settings.
Click on the "Inputs Tab".
Don't Change any settings. The settings are good as they are.
You can increase your lot size as your capital increases.
A Minimum Of $100 Capital is required for this EA to work.
Please check the lot size calculator in section 4 below to work out your exposure on X lot size, that way you will know the risk associated with the EA.
Find The Gold Chart.
- Right Click in the "Market Watch Section".
- Click "Symbols".
- Find the "Metals Folder" and click on the "+" sign to drop down the menu.
- Click On "XAUUSD Gold Spot" so the "$" icon goes yellow.
- Click close.
- In the "Market Watch" window, right click on "XAUUSD".
- Click "Chart Window"
- Change time frame to 1M
- Drag your EA on to the Chart. Keep default settings. Don't change any settings. Don't load any preset.
5. Go to step 3. below
Don't change any of the settings. The only settings you can change is the lot size AFTER you have increased capital.
Start on default settings, then when comfortable you can gradually increase your lot sizes.
Choosing Lot Size.
The engineer recommends 0.10 per $1000. The lot size doubles on each level up to 12 levels. This means that if you start with 0.10, then your lot size on level 12 will be 200 & your total lots open will be 0.1+0.2+0.4+0.8+1.6+3.2+6.4+12.8+25.6+50.2+100.4+220.8 = 422 lots. A capital contribution of $1000 can't sustain open lots of 422. You'll blow your account.
For me this is way too much risk!!! Rather start with a smaller lot size until you are comfortable. If I started with $1000 I'd Start with 0.02 or 0.03, I'd check the drawdown % and go from there. Remember, this is not a race. This is a get rich for sure system if you are conservative & if you protect your capital. If you want more profit increase capital. Don't increase lot sizes without understanding the risk attached when increasing lot size. Ask on the Telegram group what the max drawdown is on X capital using the gold EA. The telegram group is there to assist you to make educated decisions.
"Lot Started" and "Lot1" MUST always be the same value. If you increase "Lot Started" to 0.02 then "Lot1" must also be 0.02
You need to manually change Lot2 to Lot12 by a factor of 2. So double the lots.
You can limit the open traders by making the lot value 0. so if you only want the EA to open 5 trades, then Lot6- Lot12 must be set to 0.00
The EA was tested for 7 months with the below settings! No need to reinvent the wheel!
Magic Number | This settings allows you to operate the EA on the same chart with different settings. The magic number groups the trades together so the EA knows which trades belong to which setup. So you can have the Apache running with 2 different setups on for example EURUSD.
Lot Started | This is your Original lot. This lot is only used if you are using the multiplier. If the multiplier is set to 0.0 Then Lot started is ignored and The lots used will be entered manually.
Multiplier | This is the Martingale multiplier. If you use the multiplier then set the lot started at the desired setting and then change the Lot 1-12 all to 0.0. This setting is for a person with a higher risk appetite and is not recommended for novice traders. You should know how to trade manually and hedge before you use this setting.
Take Profit | This setting is set to 0 unless you are using the lot started.
Distance Open Positions | This is the distance between open positions. Example if you set it to 10, then every 10 pips a new trade will open. This setting is set to 0 unless you are using the lot started.
Lot Size | This is the lot sizes your EA will use if your "Lot Started" option is set to 0. You can determine the maximum open positions. A max of 6 is recommended to preserve capital and have a lower drawdown.
When changing lot size you must start with the"Lot Started". If you change 'Lot Started to 0.02 then "Lot1" must begin with 0.02 * X2 each level.
Lot3 = 0.04
Check your available EQUITY not your BALANCE before setting up the EA.
Only 5 USD news announcements to worry about.
FOMC | Definitely NO Trading During This period. don't trade 1 day before or 2 days after. Google "FOMC dates" and diarise the dates.
NFP | Trading optional. Slow down robot to 0.01
CPI | Trading optional. Slow down robot to 0.01
Retail Sales | Trading optional. Slow down robot to 0.01
GDP | Trading optional. Slow down robot to 0.01
Don't trade gold during these announcements.
Check MyFXBook or Investing.com for news announcements.
Download the app to your phone and check it everyday!!!