Smart Trader Setup (v.2) 1) Download: the MT4 trading platform(s) and the Smart Trader EA and save them to your desktop. 2) Setup: Double click on the gfx_mt4 icon (or FXDD), and click Run Choose installation language: select English and click Next. Welcome page: click Next. License Agreement: check I Agree and click Next. Installation Folder: type an identifier at the end of the filename to distinguish between other installations in your program folder, then click Next: Select program group: - no changes just click Next. You are ready to install: click Next. After installation, click Finish.
It takes a few minutes for the software to load, and then a Personal Details page will open. Fill in your details and select the type of account you want. Account Type: change the default of GallantFX (standard) to GFX5 (micro). This will allow you to trade micro lots in the demo account. Leverage: change from 1:500 to 1:100. This is recommended when testing. Once you go live you can set the leverage higher to 1:200 or even 1:400 (if offered). Deposit: change the default from $100,000 to $10,000 or $5,000, or something close to an actual amount you would be funding your live account with. Check the box next to I agree to subscribe to your newletters and click Next Trading Servers: click Next to load the servers, then Finish If a Live Update window opens, click Start and wait for the update to finish then click Update and Restart. Install Smart Trader: Double click the Smart Trader icon on your desktop then click Run. License Agreement: click I Agree Choose Component: Smart Trader should be checked, then click Next Choose Install Location: Click the Browse button to find the MT4 program you just set up (named Demo 1 Smart Trader). It will be in the Programs Files under Local Disk C then click Install. Installation Complete: Click Close. The Metatrader 4 platform needs to be closed, so click the red X in the top right corner. Look for the new MetaTrader 4 by GallantFX icon on your desktop and double click it.
With the platform open, click the Templates icon in the upper right corner and check for the Smart Trader template. You should also see the Smart Trader in the Navigator window under Expert Advisors Note: if you don t see the Templates icon, click the View tab (top left of platform), select Toolbars, then click Charts. The Templates icon will then be visible. If you don t see the Navigator window on the left side of the platform, click View, scroll down and click Navigator, and the window will be visible on the left side of the platform. 4) Set up Smart Trader: Delete the 4 default charts you see on the platform, by clicking the red X on the top right side of each chart. Select a currency pair from the Market Watch window on the left side of the platform, right click on it, and then select Chart Window...or... simply left click on it and drag it over to the chart area. Click the Template icon on the upper right of the platform, scroll down and click Smart Trader. You will see the words Smart Trader in the top far right corner of the chart, and a Smiley Face. If the Expert Advisors tab is not depressed, you will see an x instead of a smiley face. This button will turn on and off the EA on your chart.
You should also see a red icon in the top left area of your chart. This icon moves back and forth with each tick of the price, to let you know it s ready to trade. Change the time frame on the chart to 15 min. Click the Tools tab at the top of the platform and scroll down and click Options. Click the Expert Advisors tab and check every small box on the left and uncheck all of the boxes on the right, then click OK. Left click the Smiley Face icon in the upper right corner of the chart to open the Smart Trader parameters window and leave the settings on the Common tab as they are.
Click the Inputs tab and change the ilot Size to to 0.1 lots per $10K account. For example, if your account size is $25K, your lot size should be 0.25 (or less). If your account size is $5K, your lot size should be 0.05. Change the imaxorders setting to 5. This means there will be no more than 5 trades taken at any given time. Change the istoploss to 440 (or 4400 if your broker s platform has an extra decimal). This is just a suggestion to get started. The suggested stop loss for any given currency is 2 times the ADR (Average Daily Range). Click the Save button and name your settings (preset) so you can load the same settings onto more charts, and click Save. Attach another chart onto your platform and select the Smart Trader template.
Left click the Smiley Face, click the Load button Left click smarttrader.set, and click Open. Now your settings are ready to go for this chart. Repeat with as many currencies as you intend to test. After you have all your charts set up, close the Navigator and Market Watch windows on the left then click the Window tab, then Tile Vertically so you can see all your charts
5) Optional Chart setup: To change the look of your charts: Right click on the chart area and scroll down to Properties and click on it. On the Common tab, click the Candlesticks button and uncheck the Show grid button On the Colors tab, make the following changes to the colors, then click OK. Change Bar Up to Deep Sky Blue Change Bar Down to Orange Red Change Bull Candle to Deep Sky Blue Change Bear Candle to Orange Red To make all the charts look the same now, you can create a new template. Click the chart you just edited, then click the Templates icon, click Save Template, then name your new template (example: SmartTradercolors) and click Save. Click on the next chart, click the template icon, select SmartTradercolors and do this for all your charts. When finished, your platform should look like this: Top 6 performs as of Sept 9th 2010: GBP/JPY, GBP/USD, AUD/JPY, EUR/JPY CAD/JPY, USD/JPY
The membership back office will give you stats and the top 5 performing currencies each week. You can check back with me to get the latest updates. IMPORTANT: Your platform must stay open at all times for the EA to work. So don t close it down when you leave your computer. It s best to get a Virtual Private Server to run your platforms on, so there is no interruption to the service. You can find information on setting up a Virtual Server here: http://forex4profit.biz