forex unlimited wealth v4.0

8/13/2019 Forex Unlimited Wealth V4.0

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FOREX UNLIMITED WEALTH

1. Introduction

2. How the EA works

3. Configurable inputs

4. Installation procedure

1. Introduction

As you would probably know, Forex market is a 30 Trillion USD market and youre most welcome to

take as much share as you want. But please remember that this is not any get rich quick system.

Once you get this software and truly understand it, you will have unlimited income potential.

In all honesty, not only do I advocate the use of Expert Advisors, I suggest you still learn everything

you can, about the markets you trade. I also suggest to try this tool in the demo account for at least a

month or till youre comfortable in making regular profits. Initially you might face some difficulties, but

believe me, this system really works. All you need is a little patience and never say die attitude.

The platform that you will be trading this system on is Metatrader 4. You can download a free copy

and open a demo account at http://www.metaquotes.net/downloads, or http://www.liteforex.cometc.

Once you download, install, and open a demo account, you are now ready to roll.

I advise you not to risk more than 10% of your equity at one time, as it is common knowledge within

the forex community that risking any larger ratios of your capital is not fundamentally sound money

management.

Now you have the whole system.

Wish you all the very best !!!


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2. How the EA works

This expert advisor is a scalping EA. The purpose of scalping is to make small profits while exposing

the trading account to a limited risk. It means that you will be locking in as little as 10 - 15 pips

whenever market moves in your favor. This EA does what we can not. It monitors the currency chart

24 hours, constantly captures the moves that occur time and again, and keeps trading until you stop.

You can run the EA on specific days if you want. Mondays are generally more risky as new positions

build up. So it is better to run it from Tuesday to Friday. You can close all the trades on Friday when

the floating losses due to the open trades are less, if you want to be absolutely safe. You can start the

EA from Tuesday all over again. Otherwise if you can take a little more risk, let the trades be open for

the weekend.

The EA works on a funneling principle. Trades are constantly placed on intervals based on the

prevailing trends. Trends are identified by a complex algorithm of MA, Momentum, Price action etc.

Orders are closed as the currency baskets reach pre-defined profit targets. Baskets are kept open for

a maximum amount of working principle, as defined by the input parameter.

EURUSD

AUDUSD

EURGBP

EURUSD

EURGBP


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3. Configurable inputs

a. lots Default value 0.01. By default the EA trades with micro lots. You can change it to any

number of mini or standard lots.

b. Timeframe Default value M15. This is the timeframe used to calculate the trends. This has

no relation to the timeframe the EA is attached to. You can change it to any timeframe

available in your MT4 platform (M15, M30, H1, H4, D1 etc). The lesser the timeframe, the

quicker will be the entry. At the same time, there is a lot of possibility for whipsaws and false

alerts. The higher the timeframe, the entry will be late. But the whipsaws are greatly reduced.

c. Symbol.Max.Profit - Default value $1.5. This is the profit target per currency basket, indollars.

d. Maxrisk Default value $1500. Maximum working capital in dollars. This is the maximum risk

that your account is subject to, no matter how many trades are open. This value is specific to

a currency and a trading direction. All trades for the currency in the specific trading direction

are closed when this loss is hit. Trades begin from scratch after a brief suspension, after

letting the market cool down for some time.

e. Pips_to_lose Default value 25. This is the spacing between the orders, to convert the

losses to profits.

f. Max.lots Default value 0.08. The maximum lotsize that the EA can trade is limited to thisparameter. This is to avoid an infinite increase in case of a huge loss.

g. Close_on_friday Default value is true. If this is set to true, then all the open orders are

closed at the specified Close hour

h. Close_hour Default value 15. On Fridays it is better to monitor the open trades, and change

this parameter when the total floating loss due to the open orders is less. All open trades will

be closed.

i. Allow_Hedging Default value True. This allows the EA to trade both sides of the market to

squeeze maximum profits. Sometimes brokers prevent this, calling it as hedging. So we need

to set it as false for them, to let the EA trade only on one direction.

j. magic Default value 1. Magic number that will enable you to run this EA, along with other

EAs.


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4. Installation procedure

Save the .ex4s files to the metatrader folder under experts subfolder. For example C:\Program

Files\Straighthold trader\experts\.

After you restart the Metatrader, these expert advisors will be under the Expert Advisors tab which

is located in the navigator window. If your NAVIGATOR toolbar is not open, simply go toVIEW>>NAVIGATOR to open it. Once you open the EXPERTS section in the NAVIGATOR,

"Forex_UW_h_4_0" will be listed. Simply click and drag the filenames directly onto the M30 pricechart of the currency pair you wish to run the EA. EURCHF is a preferable chart because of the

stability.

When you release the mouse, a window will pop up asking you to specify the EA Inputs. In the

common tab of the same window, check the Allow Live Trading option.

forex unlimited wealth v4.0

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