450 lines
13 KiB
Markdown
450 lines
13 KiB
Markdown
# ForexMaster v2.0 - Quick Start Guide
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## What's New in v2.0?
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### The Problem with v1.0
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- ❌ Only 1 trade per day
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- ❌ 40% maximum drawdown
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- ❌ Low win rate (~45%)
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- ❌ Single strategy only
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- ❌ No multi-timeframe analysis
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### The v2.0 Solution
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- ✅ 5-20 trades per day
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- ✅ <20% target drawdown
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- ✅ 60-70% target win rate
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- ✅ 4 strategies working together
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- ✅ Multi-timeframe analysis (M15, M30, H1)
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- ✅ Intelligent signal quality scoring
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- ✅ Dynamic risk management
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- ✅ Advanced position management
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## 5-Minute Setup
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### Step 1: Install (2 minutes)
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1. **Copy File**
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```
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MetaTrader 5 > File > Open Data Folder > MQL5 > Experts
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Copy ForexMaster_v2_MultiStrategy.mq5 here
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```
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2. **Compile**
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```
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Press F4 to open MetaEditor
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Find ForexMaster_v2_MultiStrategy.mq5
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Press F7 to compile
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Should show: 0 errors, 0 warnings
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```
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### Step 2: Configure (2 minutes)
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1. **Open Chart**
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- Symbol: EURUSD (recommended) or your preferred pair
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- Timeframe: H1 (recommended) or M15
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2. **Attach EA**
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- Drag EA from Navigator > Expert Advisors to chart
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- Use DEFAULT settings for first test
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- Check "Allow automated trading"
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- Click OK
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3. **Verify**
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- Look for green smiley face in top-right corner
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- Check Experts tab for "ForexMaster v2.0 Multi-Strategy EA Initialized"
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- Verify no error messages
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### Step 3: Test (1 minute)
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**Option A: Demo Account (Recommended)**
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```
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Run for 1-2 weeks on demo
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Monitor daily trades: expect 5-20 per day
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Check win rate: target 60%+
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Review drawdown: should stay <20%
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```
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**Option B: Strategy Tester**
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```
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Press Ctrl+R
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Select: ForexMaster_v2_MultiStrategy
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Period: M15 or H1
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Dates: Last 1 year minimum
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Mode: Every tick
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Click Start
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```
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## Default Settings Explained
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### What You Get Out of the Box
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**Risk Management**
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- Base Risk: 1.5% per trade
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- Dynamic risk enabled (adjusts based on win rate)
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- Max 5 concurrent positions
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- Max 10% total portfolio risk
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**Strategies Active**
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- ✓ Moving Average Crossover
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- ✓ RSI (Relative Strength Index)
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- ✓ Bollinger Bands
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- ✓ MACD
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**Multi-Timeframe**
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- M15 (fast entries)
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- M30 (confirmation)
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- H1 (trend direction)
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- Minimum 2 timeframes must agree
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**Position Management**
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- Breakeven: Moves SL to entry+5 pips when profit reaches 25 pips
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- Partial TP: Closes 50% at 40 pips profit
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- Trailing Stop: Trails by 30 pips with 10-pip steps
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**Trading Hours**
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- Favors London session (07:00-11:00 GMT)
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- Favors NY session (12:00-16:00 GMT)
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- Best during London-NY overlap
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- Asian session: OFF by default
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**Daily Limits**
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- Minimum: 5 trades (ensures activity)
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- Maximum: 20 trades (prevents overtrading)
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- Signal quality threshold: 60/100
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## Quick Settings Profiles
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### Profile 1: Conservative (Low Risk)
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```
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Copy these settings for maximum safety:
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BaseRiskPercent = 0.5
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MaxConcurrentPositions = 3
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MinSignalScore = 70
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MaxDailyTrades = 15
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UseBreakeven = true
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UsePartialTP = true
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UseTrailingStop = true
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Expected:
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- 3-10 trades per day
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- 65-70% win rate
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- Very low drawdown (<10%)
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- Slower but steady growth
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```
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### Profile 2: Balanced (Default)
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```
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Use DEFAULT settings:
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BaseRiskPercent = 1.5
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MaxConcurrentPositions = 5
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MinSignalScore = 60
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MaxDailyTrades = 20
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UseBreakeven = true
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UsePartialTP = true
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UseTrailingStop = true
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Expected:
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- 5-20 trades per day
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- 60-70% win rate
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- Moderate drawdown (<20%)
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- Balanced growth
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```
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### Profile 3: Aggressive (Higher Risk)
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```
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For experienced traders only:
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BaseRiskPercent = 2.5
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MaxConcurrentPositions = 7
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MinSignalScore = 55
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MaxDailyTrades = 30
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UseBreakeven = true
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UsePartialTP = true
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UseTrailingStop = true
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Expected:
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- 10-30 trades per day
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- 55-65% win rate
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- Higher drawdown (up to 25%)
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- Faster growth potential
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```
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## What to Expect
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### First Day
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- EA will initialize all indicators
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- May open 0-5 trades (depends on market conditions)
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- Positions will be automatically managed
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- Check Experts tab for trade confirmations
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### First Week
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- Should see 30-100+ trades
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- Win rate should stabilize around 60%
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- Drawdown should stay under 15%
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- Daily P&L will vary (normal)
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### First Month
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- Win rate should be 55-70%
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- Total trades: 150-400+
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- Should see consistent growth
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- Drawdown peaks should decrease
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## Monitoring Your EA
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### What to Check Daily (2 minutes)
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1. **EA Status**
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- Green smiley face = active
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- Check Experts tab for errors
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2. **Open Positions**
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- Should have 0-5 open positions
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- All should have SL and TP set
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3. **Daily Trades**
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- Check terminal tab for today's trades
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- Should see 5-20 trades on active days
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4. **Account Status**
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- Monitor overall balance
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- Check total exposure (shouldn't exceed 10%)
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### What to Check Weekly (10 minutes)
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1. **Performance Metrics**
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- Win rate: Should be 55-70%
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- Average profit per trade
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- Maximum drawdown
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- Total trades this week
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2. **Strategy Performance**
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- Check which strategies are performing best
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- Review signal quality scores
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- Note any patterns
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3. **Risk Management**
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- Verify risk is being adjusted properly
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- Check if breakeven/partial TP working
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- Review trailing stop effectiveness
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## Common Questions
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### Q: How many trades should I see daily?
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**A**: 5-20 trades per day is normal. Some days may have fewer if market conditions aren't favorable. Zero trades is rare but possible during extreme market conditions.
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### Q: What win rate should I expect?
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**A**: Target is 60-70%. Anything above 55% is acceptable. Below 50% for extended period suggests settings need adjustment.
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### Q: How much drawdown is normal?
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**A**: With default settings, expect 10-20% maximum drawdown. Brief drawdowns of 5-10% are completely normal. If exceeding 25%, reduce risk settings.
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### Q: Can I trade multiple pairs?
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**A**: Yes! Attach EA to different chart for each pair. Recommended pairs: EURUSD, GBPUSD, USDJPY, AUDUSD. Use same or lower risk per pair.
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### Q: Should I use VPS?
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**A**: Highly recommended. EA needs to run 24/5 without interruption. VPS ensures no missed opportunities and proper trade management.
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### Q: What account size do I need?
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**A**: Minimum $500, recommended $1000+. Below $500 increases risk as lot sizes can't be properly scaled.
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### Q: Can I modify trades manually?
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**A**: Not recommended. Let EA manage positions automatically. Manual interference can disrupt the strategy.
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## Troubleshooting
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### Issue: No trades opening
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**Check These:**
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1. AutoTrading enabled? (Button in toolbar should be green)
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2. Are trading hours appropriate? (May need to disable time filter temporarily)
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3. Is MinSignalScore too high? (Try lowering to 50 for testing)
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4. Check Experts tab for error messages
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5. Verify indicators are loading (look for initialization messages)
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**Quick Fix:**
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```
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Set MinSignalScore = 50
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Set UseTimeFilter = false
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Wait 1-2 hours
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Should see trades if market is active
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```
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### Issue: Too many trades
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**Check These:**
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1. Is MinSignalScore too low?
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2. Are all 4 strategies enabled? (May be opening too many signals)
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3. Check if signal scoring is working properly
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**Quick Fix:**
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```
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Set MinSignalScore = 70
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Set MaxDailyTrades = 10
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Monitor for 1 day
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Adjust as needed
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```
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### Issue: High drawdown
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**Check These:**
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1. Risk per trade too high?
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2. Too many concurrent positions?
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3. Portfolio risk exceeding limits?
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**Quick Fix:**
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```
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Set BaseRiskPercent = 0.5
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Set MaxConcurrentPositions = 3
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Set MaxPortfolioRisk = 5.0
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Monitor for several days
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```
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### Issue: Low win rate
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**Check These:**
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1. Signal quality threshold too low?
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2. Timeframe confirmations set properly?
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3. Market conditions unfavorable?
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**Quick Fix:**
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```
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Set MinSignalScore = 70
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Set MinTFConfirmation = 3
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Enable UseTimeFilter = true
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Run for 1 week minimum
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```
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## Next Steps
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### After Successful Demo Testing (1+ week)
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1. **Review Results**
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- Win rate ≥ 55%? ✓
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- Drawdown < 20%? ✓
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- Consistent daily trades? ✓
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- No major errors? ✓
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2. **Move to Small Live**
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- Start with minimum account size
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- Use conservative settings
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- Reduce risk by 50% initially
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- Monitor closely for 1 week
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3. **Scale Gradually**
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- Increase risk only after proven profitable
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- Add more trading pairs gradually
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- Withdraw profits regularly
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- Maintain proper risk management
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### Optimization (Optional)
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If you want to optimize for your specific needs:
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1. **Run Strategy Tester**
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- Test last 2-3 years of data
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- Use genetic algorithm optimization
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- Focus on key parameters only
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2. **Key Parameters to Optimize**
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- MinSignalScore (50-75)
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- BaseRiskPercent (0.5-3.0)
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- MaxConcurrentPositions (3-7)
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- Breakeven trigger (15-35)
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3. **Validate Results**
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- Test optimized settings on demo
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- Verify improvement over defaults
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- Check for curve fitting (overfitting)
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## Support Resources
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### Documentation
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- **EA_V2_DOCUMENTATION.md** - Complete 30+ page guide
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- **EA_V2_QUICKSTART.md** - This quick start (you are here)
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- **README.md** - Project overview
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### Educational Materials
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- **Ebook_Forex-A-Z_copy.pdf** - Forex basics
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- **Forex-Trading-For-Beginners-The-Ultimate-Guide_copy.pdf** - Complete guide
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- **Trading_Course_Advanced.pdf** - Advanced strategies
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### Code
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- **ForexMaster_v2_MultiStrategy.mq5** - Main EA (v2.0)
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- **ForexMasterEA.mq5** - Legacy version (v1.0)
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- **ForexTrader_EA.mq5** - Alternative version (v1.0)
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## Final Checklist
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Before going live, verify:
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- [ ] EA compiled successfully (0 errors)
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- [ ] Tested on demo account for 1+ week
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- [ ] Win rate ≥ 55%
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- [ ] Drawdown < 20%
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- [ ] Understanding all settings
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- [ ] Have adequate account balance ($1000+ recommended)
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- [ ] VPS setup (recommended)
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- [ ] Risk settings appropriate for account size
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- [ ] Comfortable with potential losses
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- [ ] Have realistic expectations
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## Important Reminders
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⚠️ **Risk Warning**: Forex trading is risky. Never trade money you can't afford to lose.
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⚠️ **Testing**: Always test thoroughly on demo before live trading.
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⚠️ **Monitoring**: Check EA status daily, review performance weekly.
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⚠️ **Patience**: Give EA time to prove itself. At least 1 month of data needed.
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⚠️ **Discipline**: Don't interfere with EA trades. Let it work.
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⚠️ **Realistic**: No EA wins 100% of the time. Expect losses.
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## Quick Reference Card
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```
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╔═══════════════════════════════════════════════════╗
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║ FOREXMASTER V2.0 QUICK REFERENCE ║
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╠═══════════════════════════════════════════════════╣
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║ INSTALLATION ║
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║ • Copy to: MQL5/Experts folder ║
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║ • Compile with F7 ║
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║ • Attach to H1 or M15 chart ║
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╠═══════════════════════════════════════════════════╣
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║ DEFAULT TARGETS ║
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║ • Daily Trades: 5-20 ║
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║ • Win Rate: 60-70% ║
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║ • Max Drawdown: <20% ║
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║ • Risk per Trade: 1.5% ║
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║ • Concurrent Positions: up to 5 ║
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╠═══════════════════════════════════════════════════╣
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║ QUICK FIXES ║
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║ • No trades? Lower MinSignalScore to 50 ║
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║ • Too many? Raise MinSignalScore to 70 ║
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║ • High DD? Lower BaseRiskPercent to 0.5 ║
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║ • Low win rate? Raise MinSignalScore to 70 ║
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╠═══════════════════════════════════════════════════╣
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║ MONITORING (Daily) ║
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║ • Check green smiley face (EA active) ║
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║ • Review Experts tab for errors ║
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║ • Verify 0-5 open positions ║
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║ • Check daily trade count ║
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╠═══════════════════════════════════════════════════╣
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║ SUPPORT ║
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║ • Read: EA_V2_DOCUMENTATION.md ║
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║ • Study: Included PDF materials ║
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║ • Review: Source code comments ║
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╚═══════════════════════════════════════════════════╝
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```
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---
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**Ready to Start?** Follow the 5-Minute Setup above, use default settings, and test on demo for 1 week!
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**Need Help?** Read the complete EA_V2_DOCUMENTATION.md for detailed information.
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**Version**: 2.0 | **Updated**: November 2024 | **Status**: Production Ready
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