224 lines
5.8 KiB
Markdown
224 lines
5.8 KiB
Markdown
# Quick Installation Guide - ForexTrader EA
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## Prerequisites
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- MetaTrader 5 platform installed
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- Active trading account (demo or live)
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- Basic understanding of forex trading
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## Installation Steps
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### Step 1: Locate Your MT5 Data Folder
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1. Open MetaTrader 5
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2. Click **File → Open Data Folder**
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3. A Windows Explorer window will open
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### Step 2: Copy the EA File
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1. Navigate to **MQL5 → Experts** folder
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2. Copy `ForexTrader_EA.mq5` into this folder
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3. Keep the folder open for the next step
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### Step 3: Compile the EA
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1. In MetaTrader 5, press **F4** to open MetaEditor
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2. In the Navigator panel (left side), expand **Experts**
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3. Double-click **ForexTrader_EA.mq5** to open it
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4. Click the **Compile** button (or press F7)
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5. Check the "Toolbox" panel at the bottom:
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- ✅ **Success**: "0 error(s), 0 warning(s)"
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- ❌ **Failed**: Review error messages
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### Step 4: Enable Auto Trading
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1. Return to MetaTrader 5 main window
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2. Click the **Algo Trading** button in the toolbar
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- It should turn **green** when enabled
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- If red, click it to enable automated trading
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### Step 5: Attach EA to Chart
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1. Open a chart for your desired instrument (e.g., EUR/USD)
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2. Set your preferred timeframe (H1 or H4 recommended)
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3. In the **Navigator** panel, expand **Expert Advisors**
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4. **Drag and drop** ForexTrader_EA onto the chart
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5. A settings window will appear
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### Step 6: Configure Parameters
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#### Recommended Settings for Beginners:
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**Trading Strategy:**
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- Fast MA Period: `10`
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- Slow MA Period: `70`
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- MA Method: `Simple`
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**Risk Management:**
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- Risk Percent: `1.0` (1% - conservative)
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- Stop Loss Pips: `50`
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- Take Profit Pips: `100`
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- Use Trailing Stop: `Yes`
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**Money Management:**
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- Use Fixed Lot: `No` (uses risk-based sizing)
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Click **OK** to apply settings.
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### Step 7: Verify EA is Running
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1. Look at the top-right corner of your chart
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2. You should see a **smiling face icon** 😊
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- 😊 = EA is active and working
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- 😐 = EA is loaded but auto trading disabled
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- ❌ = EA error or not loaded
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3. Check the **Experts** tab (Toolbox panel at bottom)
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- You should see initialization messages
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- "ForexTrader EA initialized successfully"
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## Testing Before Live Trading
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### Demo Account Testing (REQUIRED)
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1. **Open a demo account** if you don't have one
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2. **Run the EA for at least 2 weeks**
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3. **Monitor performance** daily
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4. **Verify all features** work correctly:
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- Trades open at MA crossovers
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- Stop loss and take profit are set
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- Trailing stop activates when in profit
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### Strategy Tester (Backtesting)
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1. In MT5, press **Ctrl + R** to open Strategy Tester
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2. Select **ForexTrader_EA** from the Expert Advisor dropdown
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3. Choose your symbol (e.g., EUR/USD)
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4. Select timeframe (H1 or H4)
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5. Set test period (at least 6 months)
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6. Click **Start** to run backtest
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7. Review results and equity curve
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## Monitoring Your EA
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### What to Watch
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- **Open positions**: Check trade direction and lot sizes
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- **Journal tab**: Look for any error messages
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- **Account balance**: Monitor for unexpected changes
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- **Experts tab**: Review EA's log messages
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### Warning Signs
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⚠️ **Stop the EA immediately if:**
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- Lot sizes are unexpectedly large
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- Multiple positions open simultaneously (EA only opens 1)
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- Stop losses are not being set
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- Error messages appear repeatedly
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## Troubleshooting
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### EA Not Opening Trades
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**Check:**
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- ✅ Auto Trading is enabled (green button)
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- ✅ Chart timeframe matches your strategy
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- ✅ Market is open (not weekend)
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- ✅ Account has sufficient free margin
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- ✅ No MA crossover has occurred recently
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### Compilation Errors
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**Solutions:**
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- Update MetaTrader 5 to latest version
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- Verify you're using MT5 (not MT4)
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- Check file encoding is UTF-8
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- Restart MetaEditor
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### Wrong Position Sizes
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**Verify:**
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- Risk Percent is reasonable (1-5%)
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- Min/Max Lot Size settings
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- Account balance is sufficient
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- Broker's minimum lot size requirements
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## Common Settings Adjustments
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### More Conservative (Lower Risk)
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```
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Risk Percent: 0.5 - 1.0%
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Stop Loss: 60-80 pips
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```
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### More Aggressive (Higher Risk)
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```
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Risk Percent: 3.0 - 5.0%
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Stop Loss: 30-40 pips
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Take Profit: 60-80 pips
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```
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### Different Timeframes
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**For H4 timeframe:**
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```
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Fast MA: 10
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Slow MA: 70
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Stop Loss: 80 pips
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Take Profit: 160 pips
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```
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**For M15 timeframe:**
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```
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Fast MA: 10
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Slow MA: 70
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Stop Loss: 20 pips
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Take Profit: 40 pips
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```
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## Safety Reminders
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1. ⚠️ **Always test on demo first**
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2. ⚠️ **Start with minimum risk (1% or less)**
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3. ⚠️ **Never risk more than you can afford to lose**
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4. ⚠️ **Monitor the EA regularly**
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5. ⚠️ **Keep MetaTrader running when EA is active**
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## Getting Help
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### Check These First:
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1. **EA_DOCUMENTATION.md** - Comprehensive guide
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2. **Experts tab** - EA log messages
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3. **Journal tab** - MetaTrader system messages
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### Common Questions:
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**Q: Why isn't the EA trading?**
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A: The EA only trades when a MA crossover occurs. This might take hours or days depending on market conditions.
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**Q: Can I run multiple EAs?**
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A: Yes, but use different Magic Numbers for each EA.
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**Q: Does my computer need to stay on?**
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A: Yes, MT5 must be running for the EA to trade. Consider using a VPS for 24/7 operation.
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**Q: What happens during weekends?**
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A: The forex market is closed. The EA will not trade but will resume Monday when markets open.
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---
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## Next Steps
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After successful installation:
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1. ✅ **Read EA_DOCUMENTATION.md** for detailed parameter explanations
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2. ✅ **Backtest the EA** on historical data
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3. ✅ **Run on demo** for at least 2 weeks
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4. ✅ **Study the forex materials** included in the repository
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5. ✅ **Start with small position sizes** when going live
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**Remember**: This EA is a tool to assist your trading. Always maintain proper risk management and never invest more than you can afford to lose.
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---
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**Good luck with your automated trading! 📈**
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