WallStreetGOLDTrader UserGuide
WallStreetGOLDTrader UserGuide
User Guide
-1-
Contents:
- What you must know before using WallStreet GOLD Trader -------------------4
-2-
GETTING STARTED
If you decide to trade on more currency pairs at the same time, you may consider reducing the
risk for each pair (using AutoMM=1-2% for example).
Before installing WallStreet GOLD Trader on your computer and commencing trading on
a real account, please read this carefully: it may be crucial for your future profits.
Trading forex entails risk and each instance of negligence or inattention may
lead to significant loss!
3. If you suspect that WallStreet GOLD Trader might be operating incorrectly, please
halt operations and contact us immediately!
-3-
WHAT YOU MUST KNOW BEFORE USING
WallStreet GOLD Trader
▪ WallStreet GOLD Trader automatically recognises whether your broker offers four
or five-digit quotes. You do not need to change any settings. You do not need to
multiply TakeProfit and StopLoss values by 10 if your broker offers five-digit quotes.
▪ We do not recommend that you launch and close your trading terminal too often.
Ideally, it should work without interruption from market opening on Monday to
closure on Friday.
▪ It is the spreads offered by your broker that chiefly determine how much profit you
can make by using WallStreet GOLD Trader.
▪ Be on the lookout for brokers who steal pips and who try to fulfil each order at a
price which is less favourable to you by 1 or 2 pips. This way, advertised 1 pip
narrow spreads can easily work out at 3 or 5 pips, thus reducing profits made by
WallStreet GOLD Trader. Be particularly cautious of new brokers who advertise
aggressively on the internet.
-4-
The MetaTrader4 (MT4) Trading Platform
WallStreet GOLD Trader operates within the MetaTrader4 trading platform. MT4 is a free
trading platform available through most forex brokers.
Installing MetaTrader 4
Browse through this section if you are familiar with MT4 and already have a broker
account.
After completing installation, you will be asked to create a demo account. Fill in the
details and select the amount of the account deposit. Enable Agree to subscribe to your
newsletters, then click Next.
-5-
The program will ask you to select the trade server to which it should connect. Click
Next. In the next window, click Finish.
-6-
Your demo account is opened. Close MT4 so that you can install WallStreet GOLD Trader.
-7-
INSTALLING WallStreet GOLD Trader
Automatic installation is very convenient because you only need to download a single
file, start the installation process and follow the steps. Finally, the robot is automatically
installed in your terminal. Please read the instructions below to install WallStreet GOLD
Trader to your MT4 terminal:
❖ After logging into the member area with the username and password provided, go to
the download page. In download page, on the picture showed below, you have to
click on “DOWNLOAD” button in order to download automatic installation file. We
recommend you to save the file in convenient location on your computer.
❖ Go to the folder where you saved the file and double click on the file to start the
installation process.
❖ During installation, select the installation folder of your MetaTrader4 terminal. This
folder would usually have the name of your broker and would be found in
C:\Program Files.
-8-
-9-
Manual installation
In addition to automatic installation, we also offer manual installation. For this
purpose, we have created an archive that contains all the components and different
versions of our robot. Please read the instructions below to install manually
WallStreet GOLD Trader to your MT4 terminal:
1. After logging into the member area with the username and password provided, go to
the download page. In download page, on the picture showed below, you have to
click on “MANUAL INSTALLATION” button in order to download all the necessary files
for manual installation
2. We recommend you to save the file to a convenient location on your computer. Then,
go to the folder where you saved the file and extract (unzip) the archive you
downloaded. You will find these files in the archive after the download the
“WallStreet_GOLD_Trader_vX.X.ex4”, the “WALLSTREET_GOLD.dll” and the
“wsgold.bmp”.
First you need to locate your Application Data folder of the MT4. To do this, go to the
File menu in the MT4 platform and click on "Open Data Folder" (check out the image
below).
- 10 -
4. Place your robot files in the right location.
First thing to do is to open the MQL4 folder, which is in the "Application Data" folder
(which you already see). The next steps are very easy:
• Place the “wsgold.bmp” file in the “Images” folder inside the "MQL4"
- 11 -
5. Run the WallStreet GOLD Trader.
After you have successfully placed the files in the correct folder, all you need to do is to
restart your MT4. If you have done everything correct, the EAs should appear in the
"Navigator" Tab of your MT4.
- 12 -
ACTIVATING WallStreet GOLD Trader
You should activate your copy of WallStreet GOLD Trader for your demo and real
accounts through our website. Login to our member zone and then find the account
activation page. Type your account number into the input field, select the type of
your account (demo or real), select WallStreet GOLD Trader from the list of available
forex robots and click Activate button. Repeat this procedure for each account.
Your WallStreet GOLD Trader licence is valid for an unlimited number of demo
accounts and for one real money account. The licence is not tied to one computer.
You are free to trade using your accounts on any computer at home, in the office, or
VPS.
As well, you have an option to remove an account that you do not use and activate a
new account on its place.
You should activate your demo or real account even if you wish to backtest
WallStreet GOLD Trader.
Your online authentication procedure may take some time. If you see an
“Online Authentication Problem!” alert, wait a couple of minutes and try
again. If the problem persists, contact us at
[email protected]
- 13 -
You can see your currenly activated account numbers in the below table:
- 14 -
STARTING AND CONFIGURING
WallStreet GOLD Trader
After installing and activating WallStreet GOLD Trader, launch your MT4 terminal and
click Tools->Options.
At this stage, make certain that you have checked and unchecked all the boxes exactly
as shown below in order to ensure correct WallStreet GOLD Trader operation.
- 15 -
Now, open the graphs for the currency pairs you wish to trade, then select the 15-
minute graph, М15.
For a comprehensive information regarding the recommended, the supported currency pairs and
for the alternative settings, please visit the “Settings” section in your members area.
Now you are ready to place WallStreet GOLD Trader on the chart. In the Navigator
window, double click Expert Advisors to expand it. You should now see all Expert
Advisors including WallStreet GOLD Trader. Now, you can right click WallStreet GOLD
Trader and select Attach to a Chart, or alternatively simply drag WallStreet GOLD Trader
onto the chart.
- 16 -
After placing WallStreet GOLD Trader on the chart, you should see a smiley face in
the upper right hand corner of your chart. This means the robot is running. If you
do not see a smiley face, make certain that under Properties on the menu bar, the Allow
Live Trading box is checked. If it is checked and you still do not see a smiley face, go to
Tools on the menu bar and select Options. A popup will appear. Select the Expert
Advisors Tab and check both the Enable Expert Advisors box and the Allow Live Trading
box.
You can enable or disable WallStreet GOLD Trader from the Expert Advisor button at
any time.
- 17 -
WallStreet GOLD Trader SETTINGS
We have used the proven trading principle of the original WallStreet FOREX Robot and
we’ve adapted it for trading GOLD (XAUUSD). The test results are very promising and we
believe that WallStreet GOLD Trader will provide consistent long-term profits.
Please, bear in mind that some brokers are offering very disadvantageous spreads in
XAUUSD, sometimes even higher than 20 cents. WallStreet GOLD Trader works best
with spreads lower than 4 cents, which is normal for most of the reputable ECN brokers.
We have performed 99.99% quality REAL tick tests with real spreads, which are
consistent with the “M1 open price only” back-tests, so you can use the “M1 open price
only” back-testing method with confidence.
The main WallStreet GOLD Trader settings are identical with the WallStreet Forex Robot
3.0 Domination settings, which are explained in this manual.
We do not recommend automatic risk settings greater than AutoMM=5, which is about
0.05 lots at $1000 account equity. Before using the automatic money management
function (AutoMM>0), please perform a backtest with your account balance and the
desired AutoMM value! This is important, because some brokers are using different lots
sizes for XAUUSD, which normally should be 100 000 ounces per lot. If you have any
questions, please do not hesitate to contact us!
You can edit WallStreet GOLD Trader settings by right clicking anywhere on the chart and
selecting Expert Advisors -> Properties.
WallStreet GOLD Trader automatically updates its settings from our web server.
This means that you can relax: your forex robot is always trimmed to
prevailing market conditions.
WinLargeFonts true/false: use "true" to adjust the robot information box display in
case you are using the Windows Large Fonts.
Magic: a unique identifier through which WallStreet GOLD Trader recognises and
manages its own positions. If you use other expert advisors on the same account,
please ensure that each of them has a distinct unique identifier.
EA_Comment: you can type here a comment, if you wish to mark the WallStreet GOLD
Trader trades.
MaxSpreadExit: The parameter is used to control closing the trades and avoid closing
the trades when the current spread is greater than MaxSpreadExit. For example, if you
- 18 -
set MaxSpreadExit=20 the EA will close the trades only when spread is equal or lower
than 20 pips. This could be useful in the periods when there are high impact news
(events) and from 00:00 to 00:59 o'clock when the spreads could be higher than usual.
This parameter has value 0 (zero) by default which means it is disabled. If you want to
use it then you can set a value greater than 0 (zero).
As an example if StealthMode is used and the hidden “system” StopLoss is 60 pips and
the EmergencyStopDist is 100 pips, then the emergency StopLoss will be placed 160
pips away from the trade entry price. The only purpose of this is to protect you from
some extremely rare circumstances in which the market moves excessively and the EA
does not manage to close by a market order on the actual “hidden” StopLoss level.
No_Hedge true/false: use "true" if you wish to cancel all hedge trades.
- 19 -
- If the value is zero (default) the robot will use only market orders.
- If the value is greater than zero (a positive value) the robot will use “Limit” orders
with a distance from the market price equal to the PendingOrderDist value in
pips.
- If the value is lower than zero (a negative value) the robot will use “Stop” orders
with a distance from the market price equal to the PendingOrderDist value in
pips.
Generally, we recommend using market orders, but we’ve designed this functionality to provide
an additional flexibility to those our users, which would be interested to experiment. As an
example, if you notice that your broker executes the market orders with a great slippage, you can
try using Limit, or Stop orders. The Limit orders would help to open the trade on a most
favourable price, but you can miss some of the trades. We recommend this functionality only for
advanced traders, which are capable to make their own backtests and optimisations.
StopLimitExpire: this value (in minutes) manages the pending orders expiration in case
you are using the Pending Orders functionality.
SecureProfitTrigger: the position’s current profit (in pips) which would guarantee
minimum profits equal to value of the SecureProfit parameter.
FixedLots: the extent of the fixed trading volume. If you use AutoMM>0, the value of
the FixedLots parameter does not matter.
- 20 -
AutoMM_Max: the maximum permitted risk expressed as a percentage of the account
per individual transaction, calculated on the basis of a 100 pip loss.
MaxAccountDD: the maximum allowed drawdown for the account in percent. The
option activates at values greater than zero. This option is based on the current
drawdown, which is the difference between the current account balance and equity.
MondayStartHour: The robot will start trading after this hour on Monday. If you want
to set any custom value it must be between 0 and 23. To completely disable trading on
Monday set MondayStartHour=24.
FridayExit true/false: if you wish to close all trades on Friday, you should use
FridayExit=true
LastTradeHour: the robot can trade until the end of this hour on Friday (including this
hour).
ExitHour: the robot will close all open positions at this hour on Friday.
If you decide to use the "FridayExit" option you should set "LastTradeHour" and
"ExitHour" several hours before the market closing of your broker on Friday.
Avoid_News true/false - if you wish to use the news filter function, you should set
Avoid_News=true
- 21 -
Wait_Before_News: the number of minutes before the news event, during which
trading will be switched off
Wait_After_News: the number of minutes after the news event, during which trading
will be switched off
Important: StopLoss and TakeProfit have default values of zero (0). When the default
value is selected, WallStreet GOLD Trader uses StopLoss and TakeProfit values
broadcast by our web server. If you wish to set your own StopLoss and TakeProfit values,
simply input values different to zero. In such a case, WallStreet GOLD Trader shall use
the StopLoss and TakeProfit values set by you.
- 22 -
WallStreet GOLD Trader
BROKER SPY MODULE
An insider look to the Broker behavior
The BROKER SPY MODULE compares the initial entry/exit price ordered from the robot,
with the actual broker execution price. The difference between the ordered price and
the broker execution price is the actual slippage.
If the broker is a correct one (and you are not trading news, spikes or other extreme scalping
techniques) the slippage could be either positive, or negative. In long term the average
slippage should be close to zero.
Unfortunately, some brokers are literally stealing from their clients with tendentious
negative slippage without any objective market reason. This is why we’ve developed the
BROKER SPY MODULE – to provide to our users this extremely important information -
an inside look to the broker’s behavior.
- 23 -
The BROKER SPY MODULE aggregates the whole important information of all trades
executed from the robot since it is started. All statistics is written on an external file, so
even if you restart the robot multiple times the statistics will not be lost.
If you change the magic number of the robot, the robot will create a new file and
the statistic will start from that moment. All statistics files from different magic number
initializations will be kept with the used magic number in the name of the file. If you
want to continue the statistics on some particular file you just need to initialize the
robot with the same magic number as is in the file name. The BROKER SPY MODULE
statistics files are located in the MT4 Data Folder->MQL 4->Files.
The BROKER SPY MODULE also provides important information about the average order
execution delay. The order execution delay could be initiated from the broker in low
liquidity conditions, or other objective reasons. Unfortunately in some cases some
brokers could use this tendentiously to steal their clients. In other cases the orders
delay could be caused by poor, or busy internet connection. However in all possible
scenarios this is a very important information to know. It could be considered as normal
if your order delay is below 1000 ms (1s) in normal market conditions, unless you do
not get a tendentiously negative slippage.
In addition the BROKER SPY MODULE provides statistics for the average spread for all
moments in which the robot initiate a trade signal.
Here is what exactly the BROKER SPY MODULE (BSM) statistics show:
The values in the brackets represent the extracted from the BSM history file data, from
all previews initializations of the robot. The values outside the brackets represent the
statistics since the last initialization of the robot.
First Trade – the date and time of the first trade from the statistics.
Last Trade – the date and time of the last trade from the statistics.
Total Errors – the total number of recorded errors for all type of orders
Total Entry Slippage – the total slippage from all market and all activated pending
orders in standard 4 digit pips.
Average Slippage – the average slippage from all market and all activated pending
orders in standard 4 digit pips.
- 24 -
Average Speed – the average time delay for accepting of all type of orders in
milliseconds (ms)
Exit Signal Trades – the total number of successfully executed exit market orders
Total Exit Slippage - the total slippage from all exit market orders in standard 4 digit
pips.
Average Slippage – the average slippage from all exit market orders in standard 4
digit pips.
Average Speed - the average time delay for accepting of all exit market orders in
milliseconds (ms)
Average Spread – average spread for all trading signals generated from the robot in
standard 4 digit pips.
Last Signal Spread – the spread for the last trading signal generated from the robot
High Spread Count – the total number of cases in which the trade is canceled due to
high spread, considering the MaxSPREAD setting.
- 25 -
BROKER SPY MODULE
SETTINGS
BSM_Alerts true/false: use True, if you want to activate the Broker Spy Module alerts.
- 26 -
Advanced Time Management System
SETTINGS
These settings have been specially developed to help traders avoid certain hour periods
during the trading week when the Forex market behaves more unpredictable.
MondayHoursForbidden – sets forbidden trading hours for Monday (applies only when
MondayTrading is enabled). You can set several values between 0 and 23 separated with
commas. For example, if you set MondayHoursForbidden=9,10,11 the EA will not trade
from 9:00 till 11:59. The hour values for this parameter are related to your broker’s
server time (the Market Watch)!
- 27 -
RISK MANAGEMENT HINTS
If your account is significant in extent and importance and if you do not wish to take
unnecessary risk, then you should settle for AutoMM values between 1 and 5 percent
risk per individual transaction. In such case, you may expect a return on investment in
the order of 10 to 100 percent on an annual basis.
If your account is not significant in extent or importance, and if you can afford to
assume significant risk, then you may select AutoMM values between 10 and 20
percent per individual transaction. In such case, you may expect a return on investment
in the order of 200 and 1000 percent on an annual basis. Bear in mind, however, that
the level of risk assumed means that the chance of losing the entire account increases.
In reality, perhaps the most widely assumed risk per individual transaction is 5 percent
(AutoMM=5), and for a good reason. Assuming 5 percent risk and applying a good
trading strategy, your chances of steady long-term profit are significant, while the risk of
losing the entire account is minimised.
- 28 -
HOW TO BACKTEST
WallStreet GOLD Trader
Please, do not forget to activate your demo, or real account, even if you only
wish to backtest WallStreet GOLD Trader!
If you wish to back-test WallStreet GOLD Trader, first you should download history from
the MetaTrader history center: click Tools -> History Center, or press the "F2" key of
the keyboard. In the list, find the currency pair that you wish to back-test and double
click to expand it. Click "1 Minute (M1)" and then click "Download". When the download
process is finished, double click on "5 Minutes (M5)” and "15 Minutes (M15)" to convert
the M1 data. Close the "History Center" window.
To open the "Strategy Tester" window click the "Strategy Tester" button of the
MetaTrader menu, or press "Ctrl+R" on the keyboard. In the "Strategy Tester" window
chose "WallStreet GOLD Trader", chose one of the supported currency pairs, chose M15
timeframe, chose the method "Every tick ...", as shown below. Click "Start" to start the
back-test.
- 29 -
The back-test by "Every tick" is the most precise, but it is very slow. If you wish to save
time you can run the back-test on M1 timeframe by "Open price only ..." method and
this will be correct too.
Important notice: If you make a back-test and at the same time you have WallStreet
GOLD Trader attached on the chart in live trading mode, this can overload your
MetaTrader4 terminal and can be a cause for a MataTrader 4 terminal crash. Do not
make back-tests on the same MataTrader 4 terminal, which you use for live trading!
We strongly recommend that you operate a demo account before trading with
real money. This will help you become familiar with the way WallStreet GOLD
Trader operates before you commit genuine funds to a real money account.
- 30 -
EMAIL AND MOBILE PUSH
NOTIFICATIONS
WallStreet GOLD Trader come with EMAIL and Mobile PUSH Notification
system
WallStreet GOLD Trader gives traders a bit of freedom with the new notification system.
Traders don’t have to sit in front of their computer all day monitoring their traders. In
spite of this freedom, traders like to know when a trading position has been opened or
closed out. Now WallStreet GOLD Trader will inform you about all actions performed in
your account. It easy to set-up your terminal to receive these notifications. The robots
can send email and push notifications to your mobile phone and inform you about all
the trades. By default, these options are disabled. In order to enable these options, you
have to set:
▪ EMAIL_Notification=true
▪ PUSH_Notification=true
To receive email messages, you have to configure the MT4 terminal properly too.
The configuration must be done in:
- 31 -
To receive Mobile Push notifications, you have to enable Push Notifications and to
enter your mobile terminal MetaQuotes ID here:
- 32 -
All Forex Robots of FXautomater
All of our forex robots are listed below. You can find many paid or free forex robots. All these
forex robots are developed by FXautomater. We develop different kind of expert advisors - fully
automated, hybrid systems, grid strategies, martingale strategies, scalpers, trending forex
robots and etc.. We have at least one forex robot which may suits your needs. If you cannot find
what you are looking for contact us and we may help you.
- 33 -
Terms of Use and Risk Disclosure
By using WallStreet GOLD Trader, you acknowledge that you are familiar with these risks
and that you are solely responsible for the outcomes of your decisions. We accept no liability
whatsoever for any direct or consequential loss arising from the use of this product. It's to be
noted carefully in this respect, that past results are not necessarily indicative of future
performance.
Your purchase WallStreet GOLD Trader serves as your acknowledgement and representation
that you have read and understand these TERMS OF USE and that you agree to be bound by
such TERMS OF USE ("License Agreement").
Copyright Information
- 34 -