Forex SoftBot Advisor:

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2 Forex SoftBot License Agreement All contents of this manual and BestForexSoft web-resourse are neither an endorsement, nor a solicitation of any sort, and cannot be considered as a promotional offering. All information is for educational purposes only and is not intended to provide financial advice. It is a free software and its usage is limited by your accounts. Do not distribute it. If you want to share it, link to our web-resource CFTC RULE 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 UNDEROR- 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 PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risks. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Please be aware of the loss, risk, personal or otherwise consequences of the use and application of this book s and software content. The author and the publisher are not responsible for any actions that you undertake and will not be held accountable for any loss or injuries. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on the web site and manual. The past performance of any trading software or methodology is not necessarily indicative of future results. 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. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading software is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Best Forex Software and any authorized distributors of this information harmless in any and all ways. The use of this software constitutes acceptance of these terms. COPYRIGHT No part of this package (neither SoftBot robot or its code nor Trader s Manual) or any of its contents may be reproduced, copied, modified or adapted, re-published, STORED OR LINKED AT ANY FILE SHARING SITES or FORUMS OR USED FOR ANY OTHER PURPOSE WITHOUT THE PRIOR WRITTEN CONSENT OF BESTFOREXSOFT. Commercial spreading out the copies is also prohibited. In case you want to share SoftBot robot with your friends, please direct them to Backlink is desired if discussed or mentioned in the Internet. Forex SoftBot is non-commercial product. In case of its commercial usage you take full responsibility for all risks related to or arising from it. Copyright 2014 BFS Company. All rights reserved. Copyright 2014, All Rights Reserved Page 2

3 CONTENTS (read before installation, chapters are hyperlinked) Forex SoftBot License Agreement... 2 CONTENTS... 3 Before starting!... 4 EA trading introduction... 4 ABOUT SoftBot Robot... 4 BASIC RULES of trading with SoftBot... 5 Getting started:... 6 Installation of SoftBot Expert Advisor... 6 Pre-Step Step 1. Installation on MT4 build 600 and above Step 2. Setup of MetaTrader, Live Trading and SoftBot settings Definition of INPUTS settings TIPS for comfortable trading About Us Copyright 2014, All Rights Reserved Page 3

4 Before starting! Learn why Expert Advisor is so popular and how not to lose money with it. EA trading introduction Everyone starts with a demo account. First steps are common for all traders placing and closing orders, learning how to set (and what are) Stop Loss and Take Profit. After that usually different strategies are investigated and practiced. But sooner or later when you get a basic knowledge and Forex understanding you may like to automate trading and bring your orders into a system. There are 2 main categories of products that you may use: Indicators and Expert Advisors. INDICATORS. It is the graphical representation of a strategy based on mathematical computations using Open Price, Close Price, High and Low prices of a certain period. Some of them are partly automated and may send alerts, show recommendations on Stop Loss and Take Profit and so on. Some are 100% manual and require your attention and some experience. Indicators may be combined and installed to the same chart or used stand-alone. They may be joined in a system or just serve as filters. The main staple here is to KNOW what each indicator you use shows and how to read it, its main purpose. EXPERT ADVISORS (ROBOTS). EA is a software program based on a trading strategy. It monitors market, opens and closes orders, modifies them if needed. Main advantage of robots is its fully automated trading process. Once you install it, it takes all the rest. And if it makes profit, you are a lucky trader. An ideal robot that is constantly profitable can hardly exist. From this point of view, you should remember that any program is developed by a human being, even by a very smart one. All men are liable to make mistakes and that s the point why there are so few worthy Forex products at the market. SO, what can you do? To trade successfully and make money at Forex, please remember NOT to put all your faith in all advertisings. THINK FIRST. Try and experiment, practice yourself. Stay attentive, insistent and rational. No pain, no gain it s the most true way to your success. ABOUT SoftBot Robot Any Expert Advisor is a code of some Forex strategy that is developed to trade instead of you. Robots trade automatically and usually require a one-time installation in comparison with manual systems and indicators that just show Buy/Sell possibilities to a trader which decides whether to realize them. Forex SoftBot is such a fully automated Expert Advisor or socalled Robot and is a plugin file for MetaTrader4 trading station. You need a PC/laptop and a dedicated internet line to start using it. Forex SoftBot is non-commercial product. In case of its commercial usage you take full responsibility for all risks related to or arising from it. Copyright 2014, All Rights Reserved Page 4

5 Forex SoftBot is specifically fine-tuned for automated self-trading with USD/CHF, USD/JPY and GPB/USD currency pairs. Its algorithm has been well-honed and brought to its perfection based on long-term tests and experiments. It can be a perfect Robot for novice traders as it is easy to install and may serve as a guide on how to start trading. You will find a VIDEO GUIDE on how to install and setup it at our web resource within Trading Area (Windows XP and Windows 7 covered). BASIC RULES of trading with SoftBot FOREX (The foreign exchange market) is a global decentralized market for currencies trading. BROKER is a financial company that connects traders with Forex market via Internet. When you select a broker, it will open an account for you. On a regular basis, check that your account is active. Your Forex ACCOUNT deals with currencies. You purchase currencies that are traded in pairs (If you buy the EUR/USD, the Euro must become worth more money, in order for you to make a profit). We recommend starting with a demo account that simulates realtime trading. It can be made via MetaTrader4 trading platform. MetaTrader4 is a FREE trading platform that is provided by any Forex broker. SoftBot from BFS is a special ex.4 file format that will be NOT opened by any Windows application, but should be used inside MetaTrader4 (MT4) only. It is a plugin to be used with MT4 only. SoftBot is developed ONLY for USD/CHF, USD/JPY and GPB/USD, H1 timeframe and you can install it at 3 different charts of these pairs. Only after its proper installation and setup SoftBot will trade automatically. No your assistance would be needed except for periodic check-outs. Keep MetaTrader4 open and Internet connected at all times, even if you are away. In case you need to restart MT4/PC, schedule that on weekends when market is closed (it is open from 20:15 GMT on Sunday until 22:00 GMT Friday). If you just started and before installation may need detailed information on how to choose a broker, open a demo account and what spread, leverage, pips and etc. are take advantage of our FREE EDUCATIONAL materials published at the site at within Trading Area. You will also find a VIDEO GUIDE on how to install and setup any Expert Advisor at our web resource within our Trading Area as well. Copyright 2014, All Rights Reserved Page 5

6 Getting started: Installation of SoftBot Expert Advisor SoftBot Expert Advisor should be used only with regular MetaTrader4 application for PC. It is not supported by mobile platforms yet, doesn t work with binary options and other latest MT4 innovations. It works perfectly with 4 and 5 digit brokers that support MT4. *You will find a VIDEO GUIDE on how to install and setup any Expert Advisor at our web resource within our Trading Area. Pre-Step. Select a broker. Download MT4 application from its website (it should be free!). Launch after a download is complete. Setup Wizard would guide you during the installation. When it is finished, you will find a shortcut (a new icon with the name of your broker) at your desktop. Double click it to start MT4. It will offer you to open a demo account. Fill in the form to activate your new demo account. Done. *If you need more details on how to choose a broker, open a demo account and what spread, leverage, pips and etc. are take advantage of our FREE EDUCATIONAL materials published at the site at within Trading Area. Step 1. Installation on MT4 build 600 and above. Follow these instructions or watch a video guide at If you run MT4 build above 600, Start MetaTrader4 if it is closed. Check Main Menu, click a File button, select Open Data Folder. A folder of your broker will open in a new folder. It may look like the one below: Copyright 2014, All Rights Reserved Page 6

7 1.2. Open MQL4 folder. Find Experts folder. Copy and Paste ex.4 files of SoftBot (SoftBot_gbpusd.ex4, SoftBot_usdchf.ex4 and SoftBot_usdjpy.ex4) in Experts folder Now, please close MetaTrader4 and Start it again. Only after you restart the application these files will appear in Navigator list. Step 1b. Installation on previous MT4 builds. If you run the previous builds of MT4, the process of installation is different. Here is the best method of doing it. - Check if you have a shortcut with the name of your broker at desktop. If yes, right click on it. Click on Properties. In the new opened menu click the button Find Target (for WinXP) or Open File Location (for Win7): Copyright 2014, All Rights Reserved Page 7

8 Now you will find yourself in the folder of your broker. If you don t have a shortcut, go to My Computer (via Start Button), select Disk C. Find Program files folder (there may be 2 such folders, check both) and find a folder of your broker inside. Open it. For example, the path to MetaTrader 4 broker: My Computer/ Local Disk C:/Program Files/MT4 MetaTrader - Find experts folder in the list and open it. Copyright 2014, All Rights Reserved Page 8

9 Paste the selected ex.4 files of SoftBot (SoftBot_gbpusd.ex4, SoftBot_usdchf.ex4 and SoftBot_usdjpy.ex4) in experts folder. The final proper destination of the files is: My Computer/ Local Disk C:/Program Files/FxPro MetaTrader4/experts. OR My Computer/ Local Disk C:/Program Files(x86)/FxPro MetaTrader4/experts. * MT4 folder may be located in Program files or Program files (x86) depending on your Windows. Close MetaTrader if it is open. Step 2. Setup of MetaTrader, Live Trading and SoftBot settings Start MetaTrader4. Check that your account is active and internet connection is on. Now you need to check if your terminal allows Live trading. Find Tools in the menu. Click Options and open a tab Expert Advisors. PLEASE SET EXACTLY AS WE SHOW! Don t select Ask manual confirmation and Confirm DLL function calls. Click OK to save it In the left of the chart window you will see Navigator list. If not, press CTRL + N or this button in the menu: Copyright 2014, All Rights Reserved Page 9

10 Open (press + ) Expert Advisors list. You will find SoftBot files here. If the files are not here, check that you copied them in Experts folder and restarted MT4. Step 2.3. Open 3 new charts: GBP/USD, USD/CHF and USD/JPY. Check that timeframe selected is H1. ONLY THIS TIMEFRAME AND THESE PAIRS ARE ALLOWED. Select GBP/USD chart, H1 timeframe. Right click on the file SoftBot_gbpusd in Navigator section. Select Attach to the chart. *You may also drag and drop the file to the chart. A window with the Robot settings appears. Please, make all the settings in the Common tab the same as in the picture below: Copyright 2014, All Rights Reserved Page 10

11 With some terminals another variant is also possible. DLL imports button may be grey and not active. * Example Still, it will work as it should if you set up Live trading as described in 2.1, page 9. Switch to the Inputs. In the Inputs tab, you ll find the adjustable parameters of the robot: Here you may change Lot Size, Take Profit and activate Money Management. We will get back to the settings later. So far, leave default settings and press OK. Copyright 2014, All Rights Reserved Page 11

12 Setup other pairs in the same way: Select USD/CHF chart, H1 timeframe. Right click on the file SoftBot_usdchf in Navigator section. Select Attach to the chart. *You may also drag and drop the file to the chart. Check settings and click OK. Select USD/JPY chart, H1 timeframe. Right click on the file SoftBot_usdjpy in Navigator section. Select Attach to the chart. *You may also drag and drop the file to the chart. Check settings and click OK. Step 2.4. You will see the name of the robot in the right upper corner of the chart along with the smiley. If there is a cross instead of a smiley, check Step 2.1. Live Trading should be enabled. Also check that the Button of Expert Advisors in Menu is green. See it below: a smiley and green Expert Advisor button When you need to get back into Inputs settings of SoftBot to edit Lot Size or check Live Trading, right click on the chart with the installed robot and select Expert Advisors Properties as shown above. Or just click F7 button. Lot Definition of INPUTS settings. *Please do not change them if you are not sure what the result will be. If you use FIXED Lot Size, this is the value of your Lot. To edit it, double click on the value, enter a new one and click OK to confirm and save it. Fixed Lot Size is used when Money Management is not activated. Take Profit Default value of Take Profit. UseAutoLot It is the parameter of Money Management. You may edit it. Set 0 or 1. 0 Money Management is not active. Fixed Lot Size is used. 1 AutoLot is activated based on risk in % from Total Equity Copyright 2014, All Rights Reserved Page 12

13 dlotspercent % of risk used in UseAutoLot above. Enter the desired value of risk. MIN value is 1% (for deposits above $500, if less use Fixed Lot) MAGIC Unique number of SoftBot. It is used by MT4 to define the orders of this robot. If you need to change it, make sure that it is unique and different from all other MAGIC numbers of the installed products. Consider it! If you enable Money Management with AutoLot, Lot Size will be calculated based on your deposit and leverage. Please don t use it with deposits less than $500. Robot calculates Lot Size taking this risk and your deposit following the formula: Equity * dlotpercent / Example: If you have $1,000 deposit, dlotspercent as 1 > Lot Size will be set as If you have $1,000 deposit, dlotspercent as 10 > Lot Size will be set as 0.1. If you can t calculate risk, please disable Money Management and trade with fixed Lot Size. TIPS for comfortable trading. 1. Turn ON Comments in Trade and Account History tabs. That will help you to know which robot is placing orders. Right click at the empty space below your Balance inside a Terminal section and set a tick across Comments. Copyright 2014, All Rights Reserved Page 13

14 2. From time to time check that your account is active and Connection status of trading terminal is OK. Trading history is saved in Account History tab. 3. If there is no trading for a long time, check that you set up Live Trading as in Step 2.1. If it is OK, open and check Experts and Journal tabs. If there are any errors, consult with our web resource we have a guide on common MT4 errors in Trading Area. 4. Install any product on few different MT4. Thus, you will compare brokers service and see a product performance better. 5. If you see the order in profit, YOU MAY CLOSE IT. Just like any other robot, it is not capable on predicting news impact, thus it is allowed to interfere into its trading and close orders manually when you need. For example, Gbp/Usd is a very volatile pair that may change its trend direction too often and TP may be just not reached. So if you have a gbpusd trade in profit and have any doubts about future price direction, close it. Alternatively, reduce its TP in Inputs settings. Usd/Jpy is a more stable pair and usually after a trend reversal it keeps within a new trend for some time, so, in most cases it reaches TP. As about Usd/Chf, it doesn t have any special peculiarities, but it may be also affected by news. So, please check NEWS calendar at our website regularly! ( If you have opened orders in profit before serious news release, it is better to close them. When extremely important economic events happen and news impact is expected, deactivate it until market stabilizes. Though, please note that trading is your personal choice and we do not give any recommendations on exact time and manner of trading. In case you have ANY questions, feel free to ask us directly and send an to support@bestforexsoft.com. Our IT-guys and friendly Support Team would be happy to help you at any time. You may highlight a priority of your request by specifying the main topic of it such as General question, Help Request, etc. Copyright 2014, All Rights Reserved Page 14

15 About Us "Best Forex Soft" (BFS) is the international software developing company. BFS was established in 2005 by Peter Parker Jr. as a private Forex agency to provide accredited services: independent Forex researches; unique software developing, testing and debugging of the 3rd party products; consulting and patronizing small trading companies and much more. Later, our experts consulted major American and European companies and co-operated with them in refining software projects concepts. Due to our contribution, a range of extremely successful tools for manual and automatic trading was released by popular Forex products resellers. Our team can be proudly called one of the most professional and experienced worldwide. Now, we have decided to move on. WE WANT TO COMMUNICATE WITH TRADERS DIRECTLY. It is the official PUBLIC web-site that serves as an open source of Best Forex Software news, offers and other useful applications. We are totally against any hidden tricks or fabricated results. We do not earn billions and don t make super robots for universal trading. WE DEVELOP RELIABLE SOFTWARE AND SHARE ONLY THE BEST OF IT. Best Forex Soft. BFS is the official source of Forex trading solutions since Global Trading Solutions Company, Best Forex Soft. Voie du Chariot 3/17b, Lausanne, Vaud 1003, Switzerland Share you feedback with us at: support@bestforexsoft.com And visit BFS Trading Area: Copyright 2014, All Rights Reserved Page 15