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50%+ a Month on Your Capital AutoTrading


Guide & Settings

     I will email you the 4 files ASAP but bear in mind I sleep European time! Download them from your email to your desktop or ideally to their own folder backed up somewhere. If you are using a VPS, then the installation procedure will obviously involve copy and pasting into your MetaTrader on the VPS but I will talk about it as if it were on your computer.

   Right click copy CommodityTrader.tpl (which is the template setup file) then click on 'File' top left of your MT4, click on 'Open data folder' and right click paste into the Templates folder. Right click copy CommodityTrader.ex4 (which is the EA), double click MQL4 and right click paste into the Experts folder. Right click copy both the Signal.ex4 (needed to send trading signals to the EA) and the Spread.ex4 (shows the current spread or difference between buy and sell prices) into the Indicators folder. Close and restart your MT4 to load these files.

   Currently, the recommended instruments for daily trading are the US Crude oil (or Wti), Silver (XAG/USD) and Gold (XAU/USD) and optionally, the USD/JPY. To open these charts, click on the Market Watch window, find the required instrument, RIGHT click on it and ‘Open Chart Window as shown. You may need to RIGHT click in the Market Watch window and click ‘Show All’ if it is not already there.

    Now to set up the charts correctly, all that is needed is to RIGHT click on each chart – Template and click on Daily Trade. If they don’t look like the screenshot below, the only reason can be that you have not followed the instructions correctly! You MUST click the D1 button to set the chart to daily.

     The arrows show past signals but they will not have been taken if the signal candle is more than Max Candle. They are not necessary to have on the chart but are a useful guide. Note that trades are taken on the open of the next candle after te signal candle.

   Next, change the ‘Magic Numbers’ on each EA as follows. By default, it is simply ‘1’ so you can leave the first chart and RIGHT click on the second – Expert Advisors/Properties and in the ‘Inputs’ tab, change the Magic Number to ‘2’. For the next chart do the same but change it to 3 and so on until the three or four charts have Magic Numbers 1,2,3,and 4. This is so the software knows which trades belong to which EA if and when you have more than one trade open.

    You now need to input the individual settings for each instrument. These may change over time and I will post updates here if needed, so I suggest you check at least once a month.

October Update for those of you who don't run regular backtests, here's what I am using together with the results for the last 5 months.

 
 
USD/JPY Max Candle 200, SL60 & TP180. 4 out of 6 trades +280 pips.
 
Oil Max Candle 125, SL50 & TP110. 4 out of 8 trades (last one was a loss!) +240 pips.
 
Gold Max Candle 240, SL150 & TP250. 3 out of 3 trades +750 pips.
 
Silver Max Candle 35, SL25 & TP 50. 4 out of 5 trades +175 pips.

Note that Trader's Way has a minimum 0.1 Lots for Commodities so minimum capital is $1,500

This is for oil but remember to adjust the Lot size according to your capital (0.1 Lots per $1,000).

This is for gold (0.07 Lots per $1,000).

This is for silver (0.08 Lots per $1,000).

    The Lot sizes are correct for Forex Time and Trader's Way but it is possible that other brokers have different pricing and also some have a minimum Lot size of 0.1 Lots - so check before making your final settings and going live. Note that the $1,000 is for all 3 instruments.

Here we have the optional USD/JPY (0.1 Lots per $1,000). This is performing well now...

    Make sure that the 'Allow live trading' is ticked in each of the Common tabs and that Autotrading is turned on in MetaTrader at the top. You should now have a smiley face top right of each chart showing that the EA will trade.

    Make sure the 'Terminal' is open so that you can monitor trades - opens a window at the bottom of the chart.

    If you are running from your home computer, you must make sure MetaTrader is running at the end of your broker's day. If a signal appears, the EA will trade with a SL and TP if the signal candle is below Max Candle size. Better to use a VPS and then everything will run unattended 24/7 (but no trading at the weekends).

    If you are not using one of the recommended brokers, it is better to play safe and add two pips to the SL and take two pips off the TP to allow for any price differences. You may want to play safe (with any broker) and reduce the TP to make for a quicker and safer trade. For example, a TP50 for oil, TP175 for gold, TP50 for silver and a TP 75 for the USD/JPY. These figures will still make a substantial profit but will close trades a day or two earlier, on average. Generally, trades will take anything between a day and four days to complete and I would recommend manually closing (click the X bottom right in te Terminal window next to the trade) if you are substantially in profit if there is high risk news (red) for the USD. You can check this at www.forexfactory.com/calendar.php - click on the clock and set it to your local time.

    If your broker has an EOD of 22:00 UK time, it means that trading will start Sunday evening (European time) and the spreads will be extremely large. For this reason (large spreads lose us more pips when opening a trade) it may be better to turn off Autotrading and turn it back on an hour or so later when te spreads are more normal. The EA should still make the trade then.

Note that commodities open an hour later at 23:00 UK time Sundays and EOD is always 23:00 (Forex Time 23:05).

   Lastly, be patient! This system only averages one trade a week so two weeks may pass with no action (rare). Patience is also needed waiting for the trade to hit TP. Not get scared and close trades early for a small profit as this bad habit will decimate your profits. Don't forget, a loss is quite large and so we need large profits to offset those occasional losses.

   All the best and good trading!

 

Recommended Brokers - choose ECN and 1:500 Leverage. Forex Time can be Swap free (inside your back office).

Trader's Way offers US clients the same conditions as the rest of the world. Unregulated but 100% trustworthy.

Minimum 0.1 Lots for Commodities so minimum capital is $1,500.