- 1. Where do I find support for the use of this EA?
- Our EA’s are very simple and easy to use. The settings are detailed in the User Manual that comes with the EA, and it will not take long for you to start trading and making profits.
If you have any concerns or questions, please browse through this page or submit your question by contacting us: http://www.forex-goldmine.net/contact
- 2. During what hours are you available to answer questions?
- Our support hours are Mon- Fri. 9:00 AM – 5:00 PM EST, all other times you may receive answers, depending on the time and urgency of the question. We encourage you to check our FAQ section which will be frequently updated, as most your answers can be found there.
Registration and Log-in Problems
- 1. I registered but can’t log in. Why?
- To activate your account you will need to click on the activation link in the email that was sent to you. Once you activate your account, you will be able to log in successfully.
Please make sure to type the same email address that was used to sign up , not just the name, but the complete email address.
- 2. I did not receive the E-Mail to activate my account. What should I do?
- You may need to look in your spam folder for the email that was sent to you. If you still can’t find it, it might be that your ISP is blocking our email as SPAM. For more information about this please read “White List” at the bottom of the web page of your ISP.
If this was the case, we recommend you to create a free Gmail or Yahoo account and sign up using the new email. Please make sure to check your junk mail and tag our emails as safe.
Questions About Using the EA
- 1. Are Trades Left Open Over the Weekend?
- Yes. You can close your trading platform over the weekend, but all trades that are open are left open. When you re-open your trading platform on Sunday afternoon, the EA will pick up where it left off as soon as trading resumes.
- 2. Can your EA’s be used to trade any currency pair?
- We recommend you start with the AUDCAD pair only, as the system has been optimizes for that pair. The Forex Cantata EA can only trade the AUDCAD and AUDNZD pairs. If you really feel that you need to try other currencies with this trading system, you can try the PipStrider II, which can trade any currency pair, and has more settings enabled, with more control of the starting system.
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.
- 3. Do I Have to Keep the Metatrader Platform Running All the Time?
- Yes. You must keep the platform on all the time for the EA to cause the trades to take place when they need to. Don’t turn the platform off (except on the weekend when the market is closed). And of course, you must be always be connected to the Internet while the Metatrader 4 platform is open.
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.
- 4. Does the EA work better long term or short term?
- Long term. You really need to let it trade for at least several weeks to a month before you get a feel for what it is doing. You can put it on a 1 hour or 4 hour chart, as our EA’s will work with any time-frame.
- 5. How Do I Stop the EA from Trading?.
- There are three ways to stop trading, you can remove the EA from the chart. You do that by right-clicking on the smiley face, and then selecting the choice to remove the EA. Or to just temporarily stop trading, you can click on the expert advisors button at the top of the screen and turn off all of the EAs (expert advisor) that way. You can also hit F7 to open the settings box and set “MonitorAndClose” to true which will allow the program to remain active without taking any trades.
- 6. I loaded the EA an hour ago, but it still hasn’t taken any trades. Is anything wrong?
- Nothing seems to be wrong; it may be take several hours before it triggers its first trade. As long as you have the EA enabled (smiley face), the comments showing on the left of your screen and the “Do Trades” is set to true in the settings box it means your EA is working.
- 7. I do not have a “smiley face”. How do I fix this?
- Click on the “tools” menu at the top of your trading platform. Then click on “Options”. Then, click on the tab labeled “Expert Advisors”. Make sure that “Enable Expert Advisors” and “Allow Live Trading” are both checked. Make sure that both check marks that begin with “Disable experts when” are both NOT checked. Then click on the OK button to save that and close that form.
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.
- 8. I downloaded the MT4 platform, but can’t find the AUDCAD pair. What if my broker doesn’t trade those pairs?
- The AUDCAD pair is offered by most brokers. You must right-click on the “Symbol” heading in the market watch window. Then left-click on “show all”. This will have the platform show all the currencies that are available.
- 9. I have had an open trade that has moved from positive to negative territory. When will it close the trade?
- It is a grid trading system. It is waiting for the price to reach a predetermined point before it closes a trade.
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.
- 10. Can I run the EA on 2 charts in the same terminal with 2 different time frames?
- The EA can run on any time frame. You can run it on an H1, H4, D1 and even W1 chart if you wish. You can even change the time frame of the chart it is on while it is on the chart, and it will not interfere with the EA.
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.
- 11. What is the purpose of the Balance Factor setting?
- The Balance Factor is an important setting that is part of the money management portion of the EA. The EA will trade 0.01 micro lots for every multiple of the amount you have in the Balance Factor. For example:
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.
- 12. How do I find the information for my current trade in the chart comments?
- If you want to read information in the comments about your current trade with the PipStrider, such as where the order opened and where it will close, here is what to do:
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.
- 13. What happens if the broker increases the spread, such as during a news event?
- Most of the time, the size of the spread and slippage is not an issue, but during an unusual news event, it may become an issue. Whenever a trade is triggered, the EA looks at the distance from the bid price to the actual trade price that is about to take place. If a sell is being closed, then that would be the Ask price. If the spread is extraordinarily wide, due to the broker widening the spread during a news event, then the trade won’t be allowed to happen, and the EA will wait until the spread comes back into tolerance before it tries again. The reason we did this was due to one event that happened during our testing, when some news was released. The spread was widened from 8 Pips to over 36 Pips and the price moved really fast, just as a trade was about to be closed. Instead of being closed at 1.1608, while the bid was 1.1600, the spread widened and the price shot up so that the Ask price was 1.1663, and that was the price we got on a close that should have been 1.1608. In a determination to never let that happen again, we put in the special slippage test routine. The scenario where we needed it only happened once during months of testing, but that was enough to make us want to do something about it. The slippage function is there now in case it ever happens again.
- 14. How can I purchase a copy of the EA to use on a live account?
- Inside the our Members Area, you will see a option to purchase our EA’s. The first option (which is currently unalienable) is a one time payment that will last for life, as a lifetime member you will receive free upgrades and unlimited support for life. The second option is a monthly payment plan, monthly members will as well receive free upgrades and unlimited support for as long as they continue the subscription.
Account Balance and Money Management Questions
- 1. What is the Minimum Balance recommended to trade this system?
- For a micro account that allows you to trade 0.01 micro lots, $3,000 USD is the recommended minimum balance, $3,500 or $4000 would be even better if trading only one currency. For a mini (nano) account (100 unit size lots) with the ability to trade 0.01 nano lots, then you could start with as little as $300.00, although $350 would be better. (10 nano lots = 1 micro lot)
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. Do you have any additional money management hints for this system?
- Other money management tips to make your account even safer: 1. Begin on a lower BalanceFactor setting when you have little to lose and increase the settings as the account gets larger. Example: You may start with 100% trade coverage with a BalanceFactor setting of 3000 until you get to $10,000 then change your BalanceFactor to 3500. After you hit $20,000 you can kick the BalanceFactor up to 4000, then at $40,000, set the BalanceFactor to 4500. At $100,000 and on, you can still leave the BalanceFactor on 4500.
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.
- 3. How do the money management settings work for these robots?
- We wanted the PipStrider II EA to be very simple, easy enough for a rank beginner. So the money management for that is only the BalanceFactor. If you have a $10,000 balance, and a BalanceFactor set to 3000, then you will trade 0.03 lots. All it does is trade 0.01 lots per BalanceFactor worth of balance. Of course, it detects an IBFX mini (nano) account, so it would also trade .03 lots for a $1000 balance on an IBFX mini account, which is set to trade nano lots.
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.
General Questions About the Trading System Used
- 1. Do important news events have an effect on this system?
- Important news events usually don’t have a huge effect, but sometimes they actually help a little bit. We generally don’t worry about them at all.
- 2. Does the EA work better in a ranging or a trending market?
- As long as the prices are moving, it will be good, and they are always moving. A ranging market over a range of 100-200 Pips would be ideal, but it works even in trending markets. Depending on where in the trading range the trend is taking place, we might earn profits right away, or else we will earn them when the prices retrace or the trend reverses.
- 3. I have had an open trade that has moved from postive to negative territory. When will it close the trade?
- It is a grid trading system. It is waiting for the price to reach a predetermined point before it closes a trade.
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.
- 4. What if my trades are hanging open with the PipStrider II EA for too long.
- “I am afraid that the price will move and never return to normal and I will have trades left dangling like an abandoned child.” In theory, that could happen. However, in reality, it usually doesn’t happen that way. Yes, for a while, it might seem like that would be the case, but sooner or later, the prices return to where they were previously.
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.
- 1. I am getting an error message 129 that says it can’t close a trade. What is wrong?
- You are trying to trade 2 currency pairs at once, on 2 different charts, but are using the same magic number for each one. The magic number must be different. You could use 510001 as the magic number for the AUDNZD pair, for example, and 610001 as the magic number for the EURCHF pair. The EA for the one currency pair is trying to close an order for the other currency pair at a price that is invalid for that pair. The magic numbers are what tell the EA it should be controlling those particular orders. And that is why each instance of the EA that you are using on different charts must use a different magic number. It is also a good idea to have each magic number setting end with the number 1, for reasons that you will come to appreciate over time.
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.
Recently Asked Questions
- 1. Will the new NFA rule to ban hedging affect the your EA’s in any way?
- Since the PipStrider EA is a Grid Trading system, which trades one direction at a time, it will not be affected in any way by this new rule.
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.
- 2. I’m currently changing brokers. I have a lifetime license, do I have to purchase a second license for my new account, or can I transfer my current license to my new account?
- When beginning the process of switching your robot from one live account to another the first thing you need to do is sign into your Members Area.
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.
- 3. My account is funded in a currency other than the U.S. dollar. What do I put in the BalanceFactor setting?
- We have many customers who fund their account with the Euro or other currencies, due to the decline in the U.S. dollar. We’ll use the Euro in our example here.
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.
- 4. I want to upgrade to the lifetime license, how do I cancel my monthly subscription before purchasing the lifetime license?
- If you wish to unsubscribe, you can do it by logging in to your PayPal account, click on “Active Subscriptions” and canceling the monthly RoboMiner subscription before your renewal. We do not offer refunds on a monthly subscription that has been renewed.
In your PayPal account, you may see a button called “Active Subscriptions”. By clicking on “Active Subscriptions” you should see the monthly subscription you have with us, with the option to cancel it. If you do not see an “Active Subscriptions” button, this is what PayPal Help writes:
How do I cancel a subscription?
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.
- Log in to your PayPal account.
- Click the My Account tab.
- Click the History subtab.
- Click More filters, select Subscriptions and agreements, and then click Subscriptions.
- Change the date back to the year the subscription was created, and then click Show.
- Click Details next to the subscription.
- Click Cancel Subscription.
If you are still having difficulty you can email our support team for further assistance at email@example.com.
- 5. How do I use the DLL file, that comes with the new updated EA’s?
- To activate your live EA, you need to put the dll file in the “libraries” folder that is in the “experts” folder, which can be found in your MT4 program file. Double click on the libraries folder to open it, and then put the dll file in it. It can take a few hours, for the EA, to start trading on your live account.
PipStrider II EA
- 1. Does the PipStrider II use a martingale strategy?
- Although in the past we did use a lot multiplier of 2.00 which doubles your trade at every new level, and categorizes the system as a “martingale strategy”, the new PipStrider II EA does not use that anymore, and instead multiplies lots by a default of 1.19 thus not making it a martingale system anymore! Of course, the user can change that if they want, but we found the PipStrider II system to be more effective when it does not multiply lots with a doubling “martingale” system.
- 2. What is the minimum recommended account size to use with the PipStrider?
- For trading with a moderate level of risk, we recommend a minimum of $4000 to $5000 on a standard forex account. The larger, the better. It’s possible to use an account as low as $2000, but you have to be prepared for a crash if you do that. Fortunately, you also have a good chance of doubling your account with such aggressive trading, and the idea would be to do so, and then withdraw your profits, so that you can continue trading with “house money” from then on. As you spend some time testing the PipStrider, and you get to understand the interplay between all of the settings and the trading patterns, you will get a better idea of what account size you want to trade with for your live trading, and what settings you want to use for the best balance between profits and safety.
- 3. What currency pairs should I trade with the PipStrider EA?
- The PipStrider EA can be used with any currency pair, however at this moment we only support the AUDCAD pair. We do encourage our users to test and tweak the settings with other currency pairs as well.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT.
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 is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, either expressed or implied, do 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 and profit or loss, and agree to hold the developers and resellers of the RoboMiner, RoboMiner Pro, GapMagic, Forex Cantata, Forex Cantata III, Aussie Battler, American-Gridrunner, PipStrider, PipStrider II, PiopStrider III, Forex Prospector , GT-Shadow EA’s, the EA-Companion, and any authorized resellers or distributors of this information harmless in any and all ways.