Forex G-Force Sniper
Expert Advisor
Settings Guide
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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.