Frequently Asked Question

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The PipStrider II EA can trade any currency pair, though, you will need to manage and adjust your settings accordingly. Before adding an additional pair, you should also test and optimize it on a demo account and run backtests to be sure it is a solid currency pair to use.

If you do decide to trade additional currency pairs, it would require a higher minimum balance than the AUDCAD to keep this element of safety. If you are a beginner, you may wish to begin with just one currency just to familiarize yourself with using the PipStrider trading system.

We recommend you sign up for a VPS service. Instead of running your platforms from your home computer, you can have your programs running on the internet itself. You can log into your VPS at anytime and log off leaving your system actively trading even while you sleep. No internet connection problems or power failure concerns. With the added conveniences, all serious investors should consider this service.

The main “Expert Advisors” button at the top of your trading platform should be on, and it should be green and not red.

If that still doesn’t give you a smiley face, then press F7, and click on the “Common” tab, and make sure that “Allow Live Trading” is checked. But what you did earlier should have done this already.

If you study the statements data that is shown on the Performance page, you will see that it is sometimes several days, before trades are closed. They happen when appropriate. Over the long term, you will see the profits build up as the trades close and accumulate their profits.

1. The magic numbers must be completely different. Once set could start with 510001 and the other set could start with 610001, for example. Each instance of the EA uses that magic number as a starting point, and then adds 1 internally until it has 64 magic numbers total. So the EA that is using 510001 is actually using all the magic numbers between 510001 and 510064. You cannot leave any conflict between the magic numbers of the 2 robots.

2. You must have a large enough balance to support trading the system twice. The system must have a minimum of $3500 balance to support trading 0.01 lots. More is better. By setting the BalanceFactor to 3500, you are allowing for that. But if you are adding another currency you must have a minimum balance of $4500 and your BalanceFactor on each EA must be set to a minimum of 4500. This will cause each robot to trade 0.01 lots until you get to $9000 in balance, and then each will trade 0.02 lots, etc.

You have 3000 for your BalanceFactor setting. The EA will trade 0.01 lots until you reach an actual account balance of $6000 and then it will trade 0.02 lots until you reach an actual account balance of $9000. And so on.

You have 3500 for your BalanceFactor setting. The EA will trade 0.01 lots until you reach an account balance of $7000 and will then trade 0.02 lots until you reach an account balance of $10,500. And so on.

If you are only trading the AUDCAD you should have a minimum Balance Factor of 3000, or 3500 for better protection.

The higher you have the Balance Factor setting, the safer you will be. It is important to not set it below 3000. The math has been worked out so that the AUDCAD can cover its historical range without you running out of margin as long as you don’t trade more than 0.01 lots for every $3000 USD of account balance. This is assuming a standard account with 200:1 account leverage. If you have 400:1 leverage, you have even more of an advantage in this respect.

We recommend that as your account balance grows over time, you set this setting to be more and more conservative (higher). We cannot guarantee that the AUDCAD will never move beyond its historical high and low prices, as unlikely as that might seem at this time.

First of all, it will help you to show the comments for your current open order at the bottom of the screen. A big reason for this is that each order’s magic number is shown in the comments for that order. If you don’t have the comments showing in your orders at the bottom, here’s what to do. Your open trades are in a box at the bottom of the MeteTrader4. On the bar just above that is the headings of order, time type and size etc. Right click on any of these headings and click next to comments placing a check mark there.

Now, as you look at the comments on the left of your chart, depending on where the price is, you may be looking at the information for the next grid higher than the grid of your current order. It is also possible you are looking at the same grid. You can tell by comparing the magic number in your comments at the bottom of the screen (if you have the comments showing) to the magic number in the chart comments.

You can find the magic number on the chart comments in the lower area of the comments to the left of your chart. If it is the same as the magic number in the comments for your order, then the “Reverse Close” that is showing in the chart comments is the point where that sell trade will close.

If your comments on the screen show that you are in grid 26, but your trade is grid 25, (very possible), then press F7 to open your settings, and replace the 0 with a 25 in the DisplayLevel setting. This will show you all the open and close points for grid 25. If your DisplaySetting is 0, it shows the grid settings for the current price level, but sometimes it is helpful to be able to see other levels, as in this case.

For buy orders, the Forward Open and Forward Close items show the order open and close points. For sell orders, the Reverse Open and Reverse Close items show that. Orders are always triggered by the bid price reaching the predetermined level. Incidentally, the number after the words “Forward Open” and “Forward Close” is the number of the current grid that you are viewing. This matches the number in the magic number. For example, magic number 510025 is the magic number assigned to a trade for grid # 25, if you have your first magic number set to 510001.

If you put a 25 in the DisplayLevel, so that you are looking at the data for grid # 25, you should see that if your sell order opened at 1.1650, it will close when the bid reaches 1.1610.

Down lower in the comments, you should see that the buy orders end when the price reaches grid 21 and that the sell orders start at that point.

If it is difficult to read the comments on the chart, try changing the time to the 1 minute tab.

In either of the 2 above scenarios, you would put 3000 or 3500 or 4000 as the figure in your “BalanceFactor” setting. If needed, the EA will detect that you are trading a mini (nano lot) account, that is set to trade nano lots and will adjust the 3000 to 300 internally.

If your broker only allows you to trade with 1 decimal place, ie, 0.1 lots is the minimum you can trade, then you would need 10x as much money in your account balance. You would still put 3000 or 3500 in your “BalanceFactor” setting, but you would need to start with $35,000 USD in a one currency account.

That may seem like a small number of lots to trade, but the system we are using dictates that we be very conservative in our lot sizes.

2. Take your starting amount out early. After your account doubles, watch for it to increase by how much you put in to get it started and take that amount out. After this, you are operating on zero risk. You still don’t want to lose anything but if you do it this way, you can only profit.

3. The program will continue to increase your trading amount until you reach the broker’s maximum. Until you reach that amount, you can open a second account with the same broker that you don’t trade. When ever you take money from your trading account, take out a little extra and move it to to your second account. If you need money fast and don’t want to see if taking it out would mess up your open trades, this is the way to do it. If you feel that something has happened in the world and you want to protect your account even further, you can move those second account funds back it to the primary trading account. This will not be necessary after reaching the brokers max.

4. Don’t put all of your eggs in one basket. Open a second and third brokerage account and make at least one out side your home country. There isn’t a lot of risk to the trading side but we have seen brokers close before. It is believed that you can get your money back or most of it, but you will have to wait for it at the very least. Also, governments can make trading the Forex Market illegal just as the US has made gambling illegal, and in the past. Don’t put all of your money in any one type of investment nor in one country.

Trading with this type of grid system is more of a money management trading strategy than a typical trading system. If you use the other money management tips as well, you will have about the safest account that can be had. Even the currency pairs used are for safety. Australia and New Zealand’s economies are vary much the same. If there is something happening in the world, it would most likely effect them both equally. It would take a world class event happening to just one country but not effecting the other, to make any significant change in the currency prices.

If you set UseMarginPercent to true, then you can have the EA trade a lot size based on a required margin amount that is a given percent of your total balance. If you go one step further, then you can set UseEquity to true, and it will calculate that margin percent as a percentage of your account equity instead of your account balance.

If you study the statements data that is shown on the Performance page, you will see that it is sometimes several days before a trade is closed. It is not meant to be nursed along waiting for trades. They happen when appropriate. Over the long term, you will see the profits build up as the trades close and accumulate their profits.

We have studied the movement of this pair over a long term and it will eventually get there. It is normal for a trade not to close within a few minutes. What you are describing is very normal for this system.

The thing to remember is that as long as you trade with a conservative lot size, you can weather those times of waiting. Most of the time, things go well, but there are occasional times when you do have trades hanging. It has happened to me enough, and I have had them turn around and eventually close enough times that I don’t let it worry me any more. If need be, I just don’t look at my account for a while, other than to be sure that the EA is running OK. I just put it out of my mind, and then I am eventually rewarded with the profits I was waiting for. If you have a sound trading system, no matter what system it is, there will be times when things seem to be going against you, but if the system is sound, then it will eventually recover and you will end up profitable. That is part of the mind-set that is necessary to be a successful trader.

Once you have made certain that you are using a different magic number on each chart, and are certain that no EURCHF orders are open using the same magic number series as that used for the AUDNZD orders, then you should no longer have this problem.

However, this new rule will only affect a USA user who tries to buy and sell the same currency at the same time by setting Trade Direction to 0. So this new NFA rule will not directly affect any of our EA’s, if there is ever a new rule that will affect any of our EA’s we will notify our members about it.

When in your Member’s Area, click on “Change Account Number” under the Main Menu on the left hand side of the page. Here you will enter your new broker and new account number and click “OK”. By entering it into the website first, our system and database will be updated with your new information automatically.

In the Manual, the recommended BalanceFactor for trading both currencies with 0.01 micro lots, is a US dollar amount. A 4500 BalanceFactor is $4500 U.S. dollars.

When you open your account with Euros (or another currency) funding your account, you’ll want to use the current conversion rate to calculate your starting balance equivalent in USD. Then look at the chart on pages 7 & 8 in the Manual to see the recommended BalanceFactor for your starting balance. Use the same formula in reverse to figure out your BalanceFactor equivalent in Euros (or another currency). You’ll want the number put in the BalanceFactor setting to be in the same currency as the currency funding your account.

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Canceling a subscription cancels all future scheduled payments of that subscription. A subscription can be canceled up to the day of the next scheduled payment.

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If you are still having difficulty you can email our support team for further assistance at support@forex-goldmine.net.