FOREX MAESTRO SOFTWARE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mike Johnson

 

 

 

 

All rights reserved.

Except for brief quotations in a review of this publication, no part of this publication may be

reproduced, stored in a retrieval system, or transmitted in any form or by any means - including

electronic, mechanical, photocopy, recording, scanning or otherwise - without the prior written

permission of the author.

 

 

Risk Disclosure Statement.

Trading any financial market involves risk. This e-book, software, and the website

www.theforexmaestro.com

and its contents are neither a solicitation nor an offer to Buy/Sell

any financial market. The contents of this e-book and software are for general informational

purposes only (contents also mean the website
www.theforexmaestro.com
and any email

correspondence or newsletters related to the website).

 

 

Although every attempt has been made to assure accuracy, we do not give any expressed or

implied warranty as to its accuracy. We do not accept any liability for error or omission. Examples

are provided for illustrative purposes only and should not be construed as investment advice or

strategy.

 

 

No representation is being made that any account or trader will or is likely to achieve profits or

loses similar to those discussed in this e-book and software. Past performance is not indicative of

future results.

 

 

By downloading the e-book, and software, subscribing to our mailing list or using the website you

will be deemed to have accepted these terms in full. The author, the website, the e-book, the

software and its representatives do not and cannot give investment advice or invite customers to

engage in investments through this e-book, software. We do our best to insure that the website is

available 24 hours per day but we cannot be held liable if for any reason the site is not available.

 

 

The information provided on this ebook, software is not intended for distribution to, or use by any

person or entity in any jurisdiction or country where such distribution or use would be contrary to

law or regulation or which would subject us to any registration requirement within such

jurisdiction or country.

 

 

 

 

Hypothetical performance results have many inherent limitations, some of which are mentioned

below. 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 actual results subsequently achieved by any particular trading program.

 

 

One of the limitations of hypothetical performance results is that they are generally prepared with

the benefit of hindsight. In addition, hypothetical trading does not involve financial risk and no

hypothetical trading record can completely account for the impact of financial risk in actual

trading. For example the ability to withstand losses or to adhere to a particular trading program in

spite of the trading losses are material points, which can also adversely affect trading results.

There are numerous other factors related to the market in general or to the implementation of any

specific trading program, which cannot be fully accounted for in the preparation of hypothetical

performance results. All of which can adversely affect actual trading results.

 

 

We reserve the right to change these terms and conditions without notice. You can check for

updates to this disclaimer at any time without notification. The content of

www.theforexmaestro.com
and this ebook and software are copyrighted and may not be copied

or reproduced.

 

 

INSTALLATION MANUAL

 

 

 

Step 1. Install Meta Trader

The Forex Maestro Expert Advisor was designed to run on Meta Trader 4 platform only.

In order to use it, you have to install Meta Trader 4 first.

 

 

You can download it here

 

 

http://www.metaquotes.net/downloads/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Follow the instruction on the screen to complete the set up

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Once you are done, click on the check box to launch Meta Trader 4.

 

 

Step 2: Open a demo account

You will be asked for opening an account when running Meta Trader for the first time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fill up all the necessary information to open a new account and Click Next to continue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Choose your trading server and click next

 

 

 

 

 

Click finish button to complete your account registration process. Congratulations. You

are done and ready to make profit

 

 

Step 3: Install The Forex Maestro Trading Software

 

 

1. You need to close the Meta Trader if you are running it

2.    Go to the place where you save fxmaestrosoft.zip, and extract it.

3.    Go to the folder where you extract fxmaestrosoft.zip to

4.    Copy the file maestro.ex4 inside expert folder into to the 'expert' folder inside your

Meta Trader folder

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5. Start your Meta Trader and you're done

 

 

 

 

Step 4: Running The Forex Maestro Trading Software

1. Launch Meta Trader if you haven't started it yet

2.    Expand Expert inside the Navigator Panel

3.    Right Click on the Maestro and choose attach to a chart (if you can not find the

navigator panel, then go to View -> Navigator or press Ctrl + N)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Step 5: How to make sure the Forex Maestro Software is running

correctly

 

 

First, you have to make sure that, Meta Trade allows the EA to run

Go to Tools -> Options and enable Expert Advisors

 

 

 

Expand the Expert inside the Navigator Panel and right click on Maestro and choose

Attach to chart

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Right Click on the Chart window and choose Expert Advisors -> Properties

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Set the options, remember to allow live trading

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THE SETTINGS

 

 

MA_Length: 10

We use SMA 10. You can change this value to any value you are interested in.

 

 

MA_timeframe: 30

We apply the SMA into 30-minute timeframe. 1440 for D1 charts etc…

 

 

MA_type: 0

The SMA 10 is applied to CLose

 

 

Percent: 0.1

A very important setting that has great impact on performance.

Small = many trades, many large positions.

Large = less trades, fewer large positions

 

 

TradeOnFriday: 1

0 means don't trade on friday.

 

 

 

1 means trade on friday. Friday is often seen as a day that gives unrealistic moves.

 

 

Slip:100

It's not always possible to get the exact price you want.

This setting allows Maestro to accept less perfect prices.

Don't set it too low because it can make you miss trades.

 

 

Lots: 0.1

Lot size for each opening trade.

 

 

Takeprofit: 30

Profit target for each trade

 

 

Stoploss: 300

Total loss on all open positions in pips

 

 

PipStep: 30

When the position goes against Maestro it starts buying to average the position to a

better value. The value you enter here is how much the price must move to open a new

position.

 

 

Increment Type:0

When set at 0 it just uses the above mentioned PipStep. When set at something else it

gradually increases the size of PipStep. The logic behind this is if Maestro needs to buy

many lots the trend is strongly against us and will continue. So we can buy a bit later.

That way we get better averaging and less positions.

 

 

GMT: 2

Your broker timezone.

 

 

DST: 0

 

 

 

0=Standard 1=Daylight Saving

 

 

Opening Hour: 0

 

 

ClosingHour: 23

 

 

Trade will open between these time.

 

 

These settings are already optimized using Interbankfx broker.

 

 

PLEASE NOTE: Actually, I recommend you only pay attention to FOUR settings:

Lots, Takeprofit, Stoploss, and Pipstep and leave the rest at defaults.

 

 

IMPORTANT:    6-Digit Forex Quotes and Maestro Expert

Advisor

 

 

 

Many Forex brokers have started to offer 6 digit Forex quotes to via the MetaTrader 4

terminal recently. It has a lot of benefits for the scalping traders and opens up many

new trading possibilities for others. But there seems to be a problem with almost all

expert advisors that are applied to the MetaTrader 4 platform, which uses 6 digit Forex

quotes instead of the more conventional 5 digit format.

 

 

What exactly is 6-digit Forex quote? For example, if you use Alpari UK as your broker,

you might see this EUR/USD quote 1.26331. It's a 6-digit quote… whereas if you use

other brokers that use the more conventional 5 digit format, this quote would be 1.2633.

 

 

So, if your broker uses 6-digit forex quote, you need to make the following changes

in your Maestro settings:

 

 

Add a 0 digit at the end of your Takeprofit, Stoploss, and Pipstep

values.

 

 

 

For example, change your Takeprofit from 30 to 300

 

 

Change your Stoploss from 300 to 3000.

 

 

Change your PipStep 30 to 300.

 

 

RECOMMENDED TIMEFRAMES:

Although Maestro robot can be run on many timeframes ranging from 1-minute to daily,

I highly recommended you to use the robot on 5-minute, 15-minute and 30-minute only.

 

 

RECOMMENDED CURRENCY PAIRS:

I highly recommended you to use the robot on these 4 currency pairs:

EUR/USD, USD/CHF, USD/CAD, EUR/GBP