Posted by forex at 5:40 AM
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1. Download Metatrader 4 free from a broker website and choose to use it in demonstration mode. This way you can check to make sure you have the settings right on your FAP Turbo robot before going live.
2. Install the FAP Turbo software with the installation wizard. Let it run with its standard settings for a few days and then you will see what advantage you gain comparatively when you tweak the settings. To try the robot with different currency pairs, you need to drag the robot icon from the navigator box onto the chart for your chosen pair.
3. Experiment with FAP Turbo's different strategies: a scalping strategy and a long-term strategy. Scalping is very short term trading which aims to build up a profit from lots of small wins.
4. Change values or parameters for settings in the robot by right clicking on the smiley face that indicates the robot is attached to the chart you are looking at. Then select expert advisers, then properties. Otherwise, just press F7.
5. Change the Scalper_Relax Hours setting in scalping mode. This is a tweak that is usually advisable. This is set at zero when you install your FAP Turbo software. As with manual trading, your FAP Turbo software will exit a trade when it hits a stop-loss (a pre-defined point where the trade has gone too far in the wrong direction). When the Scalper_Relax Hours is set to zero, the robot will continue to trade without a break. Experiment by changing the setting to 1, 2, 3 and so on. This will cause the robot to take a break from trading for 1 hour, 2 hours, 3 hours or more, depending on what figure you enter. This can cause the robot to avoid particularly volatile times when it is too risky to trade.
6. Experiment with other settings until you find the optimum combination prior to going live. As market conditions change, you will probably need to experiment in demo mode again to find the best settings for the current climate.