Forex G-Force Sniper Expert Advisor Settings Guide U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you. As with all investments, you should not invest money that you cannot afford to lose. Before deciding to invest in foreign exchange, you must carefully consider your investment objectives, level of experience, and risk appetite. Additionally, you must be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial adviser. Past results are not necessarily indicative of future success. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold forexgforce.com and any authorized distributors of this information harmless in any and all ways. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVECERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD,SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THETRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVERCOMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCHAS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL AREALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OFHINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL ORIS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. Your purchase of any forexgforce.com products serves as your acknowledgment and representation that you have read and understand these TERMS OF USE and that you agree to be bound by such TERMS OF USE ("Agreement") No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. All information on this website or any e-book purchased from this website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold forexgforce.com and any authorized distributors of this information harmless in any and all ways. The use of this system constitutes acceptance of our user agreement. Forex G- Force Sniper Settings Below are the settings to be used for Forex G-Force Sniper. It has been tested using the following brokers and settings...we suggest you use one of these four brokers. (please watch the corresponding video which goes into more depth about brokers etc.) We chose these four brokers because they are, in our opinion and based on hearing from our members etc. , the most popular and well capitalized brokers out there. FXCM, ALPARI UK, IBFX FXDD The Sniper only trades the EUR/USD. The money management settings will vary from trader to trader based on their risk tolerance and account size. So we have set them to True/1/10 as each trader will need to adjust them to meet their own needs. Make sure you use a demo account until you are comfortable with the results and settings. The Sniper EA comes with the FXCM settings as default. FXCM *** Money Management Parameters *** UseMoneyManagement= true RiskPercent= 1 MaxLotsPerOrder= 10 Lots=1 *** Common Parameters *** TakeProfit= 18 StopLoss= 80 MorePips= 10 PrevBarSize= 8 BarsToWait= 3 Slippage= 4 *** Trading Time Parameters *** SessionStart= 10 SessionEnd= 19 FridayStopHour= 17 KillTradesFriday= true NoTradeHours= 0 *** Break Even Or Better Feature *** BEOBEnabled= false BreakEvenPercent= 0 BreakEvenMorePips= 0 TrailStopPercent= 0 *** Test and Debug Parameters (Do Not Change) *** OptimizationTesting= false WriteLog= false ALPARI UK *** Money Management Parameters *** UseMoneyManagement= true RiskPercent= 1 MaxLotsPerOrder= 10 Lots= 1 *** Common Parameters *** TakeProfit= 90 StopLoss= 60 MorePips= 10 PrevBarSize= 16 BarsToWait= 3 Slippage= 4 *** Trading Time Parameters *** SessionStart= 11 SessionEnd= 20 FridayStopHour= 18 KillTradesFriday= true NoTradeHours= 0 *** Break Even Or Better Feature *** BEOBEnabled= true BreakEvenPercent= 50 BreakEvenMorePips= 4 TrailStopPercent= 0.01 *** Test and Debug Parameters (Do Not Change) *** OptimizationTesting= false WriteLog= false IBFX *** Money Management Parameters *** UseMoneyManagement= true RiskPercent= 1 MaxLotsPerOrder= 10 Lots=1 *** Common Parameters *** TakeProfit= 10 StopLoss= 140 MorePips= 10 PrevBarSize= 14 BarsToWait= 3 Slippage= 4 *** Trading Time Parameters *** SessionStart= 9 SessionEnd= 18 FridayStopHour= 16 KillTradesFriday= true NoTradeHours= 0 *** Break Even Or Better Feature *** BEOBEnabled= false BreakEvenPercent= 0 BreakEvenMorePips= 3 TrailStopPercent= 0 *** Test and Debug Parameters (Do Not Change) *** OptimizationTesting= false WriteLog= false FXDD *** Money Management Parameters *** UseMoneyManagement= true RiskPercent= 1 MaxLotsPerOrder= 10 Lots= 1 *** Common Parameters *** TakeProfit= 10 StopLoss= 170 MorePips= 5 PrevBarSize= 4 BarsToWait= 3 Slippage= 4 *** Trading Time Parameters *** SessionStart= 12 SessionEnd= 21 FridayStopHour= 19 KillTradesFriday= true NoTradeHours= 0 *** Break Even Or Better Feature *** BEOBEnabled= false BreakEvenPercent= 30 BreakEvenMorePips= 4 TrailStopPercent= 80 *** Test and Debug Parameters (Do Not Change) *** OptimizationTesting= false WriteLog= false The list above was meant to cover the majority of traders and the brokers they use...If you use another broker you can test what settings would work best by running a back test on your MT4 platform. Be sure to watch the video on the Forex G-Force Sniper Settings as well. Below is the list of Configuration Parameters and a brief explanation of each. ***NOTE*** Only Use the BEOB settings as noted in this manual...improper use may make the EA not function. FxGforceSniper Configuration Parameters UseMoneyManagement - UseMoneyManagement enables or disables money management capability for the Expert Advisor. When Enabled, the Expert Advisor will only risk RiskPercent of the account balance in a single trade. As the account balance grows, the position size (in Lots) will increase to maintain the riskPercent desired. Conversely, as the account balance goes down, the position size (in Lots) will be decreased to again maintain the desired Risk Percentage configured. The advantage of the Money Management is that the size of the position is automatically calculated to meet your risk tolerance and your account will grow considerably faster as the maximum amount of lots are always in trade depending on risk. The trader need not worry about setting position size as this is done automatically for you. The default for this parameter is True. RiskPercent - RiskPercent is used in conjunction with UseMoneyManagement. If money management is enabled, the Expert Advisor will automatically calculate the position/trade size such that only RiskPercent of the account balance is at risk with any trade. The default for this parameter is 1, representing 1 percent. MaxLotsPerOrder - MaxLotsPerOrder represents the maximum number of Lots the Expert Advisor will use on any given trade. This is used in conjunction with money management. As the account grows, and money management tries to maintain the position size such that RiskPercent is met, eventually the position size will be calculated to be more than MaxLotsPerOrder. In this case, the position size is adjusted to MaxLotsPerOrder lots and the actual risk will be less than RiskPercent. The idea here is to put a cap on the position size. Some people may not want to risk more than 5 lots on a given trade... this is the parameter to control that risk. The default for this parameter is 10 lots. Lots - If Money Management is not enabled via UseMoneyManagement parameter, then the Expert Advisor will use this parameter to determine the position size in Lots. None of the Money Management Parameter and processing will be used when the user opts to not use money management and specifies a static lot size. Note that the trader must manage his own position size and avoid over-trading his account by taking too much risk. The default for this parameter is 1 lot. The trader is strongly encouraged to use Money Management instead of using static Lot size, TakeProfit - The TakeProfit parameter is the number of Pips at which to exit with a profit. This is the profit target. StopLoss - This is the maximum number of Pips at which to exit with a loss. The Stoploss is used to protect the trader from extreme loss in the advent that the trade goes bad. MorePips - MorePips is part of the trading strategy. It specifies the number of Pips above the High or the Low of the previous Bar. This is used to set the BuyStop or SellStop used to get into the trade. Caution is advised in changing this value, as it may have serious impact on performance if set incorrectly. The value of MorePips will vary from one broker to another. PrevBarSize - PrevBarSize is also part of the trading strategy. It specifies the size of the previous bar and is used to help determine the entry point for a trade. Caution is advised in changing this value, as it may have serious impact on performance if set incorrectly. The value of PrevBarSize will vary from one broker to another. BarsToWait - BarsToWait specifies how long the ExpertAdvisor will wait (in bars) for the BuyStop or SellStop to be triggered and the trade entered. This is part of the trading strategy. Caution is advised in changing this value, as it may have serious impact on performance if set incorrectly. The value of PrevBarSize will vary from one broker to another. Slippage - Slippage refers to the number of Pips the trader is willing to allow the price to slip or vary from his desired buy or sell price. When currency prices are moving quickly, it may not be possible to get the exact price desired and the price may slip. Setting a slippage price of 3 pips for example will allow the buy or sell price to vary by plus or minus 3 pips, allowing greater flexibility in getting into a trade and thus improving the odds that the expert advisor does get the trade executed. The default value for this parameter is 4 pips. MagicNumber - The MagicNumber is associated with all trades made by this Expert Advisor. It insures that this Expert Advisor (FxGforce) only manages the trades that is has entered. SessionStart - SessionStart is the start hour for the trading session. The start time is represented on the chart by a vertical yellow line. This hour should be specified according to the brokers server time and should correspond to 9 hours GMT. Session End - SessionEnd is the ending hour for the trading session. The end time is represented on the chart by a vertical purple line. This hour should be specified according to the brokers server time and should correspond to 18 hours GMT. FridayStopHour - The FridayStopHour is the hour in which the ExpertAdvisor will stop entering trades on Friday. Generally, its a good idea to not hold any trades open over the weekend; this parameter will prevent trades from being made before the close of the market. This hour should be specified according to the brokers server time and should correspond to 16 hours GMT. KillTradesFriday - The KillTradeFriday parameter allows the trader to specify if he/she would like to close any open trades at the FridayStopHour specified above. Holding trades open over the weekend can be risky as the market may gap up or down when the market opens again on Sunday. By default, this parameter is set to True. NoTradeHours - NoTradeHours specifies the number of hours prior to market close that the user wishes to not allow trading. For example, if you wanted to not trade the last two days of the week, you'd set this to 48. By default, this parameter is set to 0. BEOBEnabled - BEOBEnabled if set to True enables a feature called Break Even Or Better. This feature locks-in profits as a trade approaches its take profit target. It does this by moving the StopLoss up to BreakEven and then trailing the stoploss behind the price as the price continues to move towards its take profit. If there is a price reversal such that the price is now going away from the take profit target, the stoploss will be hit and the trade will exit at either break even (0 profit, 0 loss) or at profit less than the original take profit target. It should be noted that the BEOB feature may get more wins but lower profits because currency movement may cause a trade that would otherwise hit take profit target to get stopped out at break even or possibly at a lower profit level associated with the trailing stop. This feature is not enabled by default. BreakEvenPercent - BreakEvenPercent allows the trader to specify at what percentage of the way towards take profit target to move the stop loss to BreakEven. For example, if the TakeProfit target is 100 Pips above the entry price, and BreakEvenPercent is specified at 25%, then the price would need to move up (100 Pip Target * 25 percent) = 25 Pips before stoploss is moved up to Break Even. The default for this parameter is 0 percent. BreakEvenMorePips - BreakEvenMorePips allows the trader to specify the number of Pips above BreakEven, such that if a trade goes bad, it will end up with a small profit instead of just breaking even. The default value of this parameter is 0 Pips. TrailStopPercent - TrailStopPercent is the percentage of the take profit target at which the BEOB feature will begin trailing the stop behind the current price. For example, if TakeProfit is set to 100 pips, and TrailStopPercent is set to 60, then the price of the currency pair will need to rise to 60 pips in profit before the stop loss would trail behind the price. As the price continues to move toward take profit, the trailing stop will also move up, locking in more profits. The default value of this parameter is 0 pips. OptimizationTesting - OptimizationTesting should not be changed. This parameter disables money management and turns off some costly processing that would generally slow optimization testing, such as Comment display on screen, some error checking/reporting, and writelog operations. Default for this parameter is false. Please do not mess with this, especially when running live. WriteLog - WriteLog is used to enable logging of internal debugging messages. Its purpose is to enable writing of diagnostic information to a log file for further analysis so that functionality problems can be resolved. This parameter should not be changed; it has a default value of false.
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