F.A.Q.

FAQ – Frequently Asked Questions

If you’re experiencing any problems with our software for Metatrader 4, please run through this list…

Are these robots F.I.F.O. compliant?

The National Futures Association (N.F.A.) has decided it’s better for all retail traders if we give complete control of our finest trading multi-position strategies to the broker, who will (out of kindness, of course) only close a certain position if all other positions have been closed before that particular trade. This is known as the “First-in, First-out” (F.I.F.O.) rule. It destroys any chance we ever had of actually scaling in and out of winning or losing trades! The good old N.F.A. has also decided it’s best for us if one stop-loss is applied to all open positions. Also, in their wisdom, one take-profit level is applied to all open positions. This takes control away from the careful trader and gives complete control to the broker, who can then manipulate an entire scaled position at once! The broker can hunt many opened trades, whereas before it would have been difficult to scam the retail trader by stop-hunting many positions. The broker can also keep many trades away from a particular take-profit level, whereas before the ruling, there was the possibility to exit certain winning or losing trades individually, according to specific targets. Surely the N.F.A. only makes these rules in order to help the broker. We don’t have any say in this issue and unfortunately it affects many good robots and strategies for the worse, not for the better. The WaveGenix Forex Box has been redesigned to accomodate the silly N.F.A. rules but it can only go as far as making Spiderweb a compliant robot. Bluebeam relies heavily on partial size closure, so a F.I.F.O. broker would be bad news for Bluebeam. Likewise, Hedgeboost uses partial closure. It also trades both directions at the same time, so it is pretty much a no-go with F.I.F.O. rules as well. In short, Hedgeboost is NOT a good F.I.F.O. compliant robot, neither is Bluebeam. We can however confidently say that we’ve reprogrammed Spiderweb to achieve good trading even though it runs on a F.I.F.O. compliant system.

What if I really need to use Hedgeboost or Bluebeam?

Find a broker somewhere outside of North America, who doesn’t have to stick to the rules imposed by the National Futures Association. Test the account yourself by opening three small positions. Try closing the middle position and see whether the “Prohibited by FIFO rule” message prevents you from getting the exit filled. If you can close a position before closing an earlier position, you’ve found a non-F.I.F.O. broker, which is good for multi-position scaled trading – which is the best way to win… that’s why brokers are in favour of N.F.A. rules which stop us from winning! You should also see if you can open positions in both directions or whether hedging (buy and sell at the same time) is prohibited. Check to see whether each position can have its own stop loss level or take profit level. If you alter a level and the result is applied to all open positions, you’re using a broker on the new restrictive ruling. If however you can have different stop-loss levels and take-profit levels for each open trade at the same time, keep the broker and tell others on the web about it! We need to build a list of non-N.F.A. brokers who can actually help us use powerful robots such as Bluebeam and Hedgeboost. Spiderweb is great but why shouldn’t we all be allowed to use robots the way we like to?

Is there a detailed tutorial for installing the WaveGenix Forex Box?

Yes! Simply click HERE and a new window will open with the official WaveGenix Forex Box tutorial.

How many robots can I run at the same time?

Read the following two questions/answers to see why it’s best to run just one terminal per account per robot…

Only one robot per trading account – WHY?

Each robot we build and release is engineered for a specific style and purpose, basing its movements on historical data and traded results. If you have more than one robot running in an account, historical data will be a blend of each varying strategy. This must be avoided, so each robot uses only the historical information from its own activity. Imagine you try to improve your surfing skills by watching someone else perform in their own unique way. It would be a disaster and you could drown – or be eaten by a giant killer squid monster! You can only really learn something and become a master by repetitive trial and error. Our forex trading robots use artificial intelligence where many decisions are based on past behaviour. Initially of course the intelligence is based on internal pre-programmed strategies and past candle data. As time goes on (it can take anywhere from 5 to 10 days) the robots learn and improve. This is why many other robots fail. They are usually too rigid and cannot adapt. Our robots are different. This is why backtesting will never be as real as forwards real-time tick-data testing. If you confuse a robot’s success by including results from other robots, the EA cannot learn effectively and generate consisitently impressive profits. Please read the next question, which is an expansion on this idea…

Limiting to just one robot per trading terminal – WHY?

Each robot relies heavily on its past behaviour as a way of extending predictability of a particular market it’s tackling. Humans do the same thing but they’re clouded and confused by emotional hesitation or doubt. Our robots remove this emotion by simply doing the learning and trading – so you can relax without needing an iron stomach and the famed cold-psycho character. You can be human while the robot is, well, robotic. Metatrader4 usually behaves nicely when you only run one robot per terminal. It doesn’t play well when there are too many things battling for a broker request, especially when the market is operating during high volatility peak times. To avoid the dreaded “Trade context busy” nightmare (it locks the terminal’s operation and usually requires a reboot for MT4) we recommend you only run one robot per trading terminal. Obviously, going by what was explained in the previous question/answer, you’ll most likely be running one account per terminal. This will enable you to run just one robot per account, completely independetly of any other account or robot.

What’s the best way to run all three robots at the same time?

Assuming you’ve read the two questions/answers above, you’ll probably have realised there’s a sneaky way to get around all the problems of multiple expert advisor chaos: For each robot you wish to run, open a separate trading account. This means you’ll have three accounts. Open each account through it’s own trading terminal, perhaps by running on three different brokers. If you’re using the same broker for two or more accounts, it might be best to open each trading terminal on a different computer. It might look crazy having three laptop computers running all day long Monday to Friday, so why not look into getting three virtual private server accounts? There are so many providers on the web. Their systems can run 24/7, 365 days a year, many with 99%+ uptime. Obviously the more stable your provider’s service, the better chances there are of avoiding critical errors. Virtual server solutions require you to sometimes meddle a little with their settings and you’ll have to check up on them at least once per day, just in case something’s frozen or crashed. The more involved you can be in maintaining a virtual server solution, the better chance there is of having (semi-)automated success. It’s far easier to check up on a terminal inside a virtual machine now and then than it is to keep your eyes glued to a trading screen for the next currency opportunity! Definitely worth looking into…

Can I get a virtual machine installed through you guys?

No. We purposefully distance ourselves from this aspect of service so we can concentrate on building amazing software. It also prevents anybody from saying we’re a scam outfit offering the bait and switch. It’s common for bad robot designers to fake their results then offer an exclusive server where users pay for the virtual machine space. The robot designer makes a ton of money offering the service while the user loses subscription cash and real trading money. Just think how much profit there is when 10,000 users pay $20 per month – the scam artist programmer would pull in over $2.4 million during that year. Our goal is to build software, offer it to those who need it, help them achieve their dreams and help us end each day feeling positive and fulfilled. We sleep easy each night knowing we’re not in the game of scamming poor traders with a baited double-whammy service. For the best results, look on the web for a good virtual machine service provider. Make sure they offer a Windows-based server, so you can be sure MT4 will behave as it was designed to. If you can run Metatrader4 on your own computer, it’ll be able to run by itself in a virtual host. This will prevent laptop battery burn-out or PC motherboard fry-ups from overuse. It’ll keep the kids happy, while they hog your bandwidth on YouTube, and it’ll also keep your energy bills down!

My robot hasn’t traded since I started it two weeks ago – what’s wrong?

Nothing’s wrong if you can see a smiley face in the top-right corner of your EUR-USD M1 trading chart and you’re connected to the internet for real-time tick data from your broker. If you can manually trade, so can the robot! It might be a situation where the robot has decided it’s better to stay out of the current market. These expert advisors we’ve built are specifically trained to avoid conditions where there’s a high probability of loss. These robots are designed to recognise profitable situations. If it worries you to have a computer switched on at home all week, go for the virtual server solution explained above. Now then, please refer to the next question…

Why do I have to wait for so long (sometimes at least 14 days) before any trading happens?

The robots we’ve built operate using an artificial intelligence core. This needs at least 12 days (trading days, not including weekends – so we’re talking approximately two weeks of tick data, because Sundays are quite short) before there’s enough back-data for intelligent analysis and predictive reasoning. In some cases it is enough to have one week of gathered candles but usually two weeks is better. If you want to try and force this essential data gathering, here’s how…

How can I force two weeks of back-data in my EUR-USD 1-minute real-time chart?

When your chart is first loaded into the terminal the broker will send tick data to fill the screen. The data is sent in the typical OPEN HIGH LOW CLOSE VOLUME way, and ticks are approximated from these figures. To force more back-data in the chart, scroll back through time as far as you want to go (or as far as the broker’s data feed allows). If you can load at least two or three weeks of data before the chart’s “today” moment there’s a better chance you won’t have to wait so long for trade decisions to be made. Click here for a detailed article explaining how to get more candles. If you’re interested about how candles are built using OHLCV check out the next question…

What exactly is OHLCV and how does it build tick data?

Open High Low Close Volume is simply the candle’s most important data points for approximation when performing backtesting on a strategy tester. In fact, it’s also used when the robots presented here need to analyse and decide on a course of action. Tick data is built on the assumption that a candle hits a high before a low if it closes lower than the open. Obviously the reverse is true when a candle closes up – it goes low before going high. Yes it’s an assumption and it might not always be the best one. However, it’s pretty acceptable to simulated results testing. Here’s something you probably didn’t know…

I know about O-H-L-C but how does V play into it?

Volume (V) is not the same in forex as it would be in stocks and shares. Shares volume is an amount representing how much of the market was traded in terms of money. Forex volume is a measure of the ticks per time period, regardless of the money involved in creating the push for a tick. This is why forex volume as given to us by the average forex broker is pretty much useless in smaller time frames when compared with shares volume of the same period. Shares volume can tell a story about how the sentiment is changing from bearish to bullish and vice-versa. Also, shares volume can give great insight when On-Balance-Volume (OBV) is calculated. In forex, as provided by the retail broker (that’s what we use for non-institutional, i.e. “hobby”, trading) our volume is simply how many times the price action moved in a given period. This is how we get to the sneaky part. You’re about to read about volume from the inside perspective, as a programmer views it. It will open your eyes when you realise how candles are simulated and that there’s actually a clever hack to defeat size limits…

How on earth can one achieve a 90% backtest quality?

The Metatrader 4 terminal’s built-in strategy tester bases tick-simulation on the volume of a candle. If the volume is 200, a perfect (100%) quality is acheived by creating exactly 200 ticks, PRECISELY at the prices where those ticks actually happened. This can never be known for sure unless you record each tick in a massive data file. Such a file would be too large, in excess of two gigabytes. Unfortunately, due to the limitations of 32-bit mechanics within MT4, a history file can only be 2 GB. Anything larger than two gigabytes will be ignored. This is why a backtest from 1970 will stop after a short while and all stop-losses will eventually be smashed after the end date, making the robot look terrible. Therefore, to combat this limitation, the designers of Metatrader 4 decided to simulate the candle’s structure based on approximate volume. Instead of 200 precise ticks, the strategy tester can build a candle using perhaps only 11 ticks. This results in a history file which fits within 2 GB and gives a fairly good candle simulation. The ticks travel according to the rules of O-H-L-C when the close is lower than the open, or O-L-H-C when the close if higher. Theoretically, for a 90% backtest quality, considering how useless volume is compared to shares volume, we only actually need 5 ticks. That’s a volume of just five! One tick for the OPEN, one for the HIGH (or LOW), one for the mid-point (added realism), one for the LOW (or HIGH) and finally one for the CLOSE. The strategy tester creates a smaller file yet we still achieve the desired tick realism good enough for many months or perhaps even years of back testing. This is especially true if a high proportion of that data also has M1 candles as a basis. Knowing all of this should tell you where the problem actually is: Volume! There’s a crafty way to change the data’s volume…

How can I change a candle’s volume to just 4 or 5 or something?

Use a data editor, or save the chart history as a CSV file or ASCII text file, then change all the values in the VOLUME column to perhaps 4 or 5 or whatever you want. Remember, the higher your candle volume, the more simulated ticks the strategy tester will build, thus the larger the output file will become. If we wanted three years of back test data in the 1-minute time frame, here’s how: We’d change the data file’s volume column to 4 at every row, throughout the entire history. Then we’d save the file and import it back to our MT4 history database folder. It’s a little tricky and sometimes MT4 pukes when it comes to export and import. If you can manage to seamlessly rebuild a history file with less volume, you’ll achieve a 90% quality. You’ll also reduce the chances of a historical burn-out limit, as mentioned in the previous question/answer. Be warned though, 90% is just a number. It has very little meaning as long as your candles can represent your data ideally anyway. If you get 24% using real volume across perhaps 9 months, it’s fine! At least you’ll know those nine months have a genuine representation of a good approximation on each candle. It will never be exactly like the day those ticks actually entered your terminal because the strategy tester simply approximates everything anyway. Don’t stress about getting a 90% quality result unless you’re using higher timeframes, perhaps in the H1 region or so. M1 is fairly accurate and any test using good M1 data as its smallest timeframe basis will show what a robot can and can’t do. However, real-time is better…

Why should I trust real-time tick data more than a simulated back test?

Back test data is simulated and doesn’t account for requotes, slippage, failure to fill an order request, news spread expansions and contractions, swap rates, etc… You get the picture. Back testing is not real enough to warrant your trust when it comes to real-life activity. Back testing simply shows what the robot does under certain circumstances across a bigger picture. It shows roughly where profits are taken and lost. Back testing shows roughly how many trades per month to expect. It tells you approximately how much lot size volume will be invested in proportion to deposit size. Back test results give a rough idea of drawdown (more on this in a moment) and the percentage of good-versus-bad trades. Real-time forwards tesing shows all of this and much more. It gives you response times, it reveals your broker’s honesty (and possibly spiking and stop-hunting). It might be able to exploit differences between ask and bid rates. Real-time testing gives you swap rates when trades are open across many weeks. You might receive extra money or have to hand over money, depending on swap and commission. You may find a margin call kicking in when drawdown gets critical. All of these things are more realistic in forwards mode. Demo testing in forwards mode has many advantages. Then again, things always look a little different when trading LIVE compared with a real-time DEMO account. This is because greed and emotion can hinder the winning hold when things turn bad. One of the sad truths of live trading is that your broker might invent crazy excuses for witholding funds on a particularly profitable trade. Not all brokers are completely honest. Some even adjust trades into a loss many hours after the profit was closed. There are a few horror stories floating around the web regarding broker dishonesty, so watch out! Robots try to reduce the fear associated with emotional trading but only if you let them do their thing. Many elements, including drawdown, can cause panic. This is a fact of trading. Read the next question…

I’ve noticed drawdown is quite large, sometimes as much as 20%. Will this blow my account?

If your account has enough funds, you won’t get a margin call. If your broker suddenly dips a spike in to reduce your equity, you may find a margin call kicking in. Brokers are usually honest, however it can sometimes happen that a so-called spike will create drawdown that forces a winning trade into negative equity and a margin call will close the trade at a loss. This is pretty much the worst case scenario for a trader and these robots attempt to reduce the chances of it happening. Many trades spread across a larger timescale will make it more difficult for the broker to hunt all stops realistically, simply because he won’t be able to give a valid excuse as to why it happened so often in such an unrealistically large period of time! To spread a position though, you may notice drawdown developing as time goes on. Think of it as giving to receive. The more your positions are scaled-in, the less likely drawdown becomes an attackable problem and eventually (in theory anyhow, we hope) your trade will come good, closing many positions with a profit. Brokers find it difficult to beat this method, as it’s far more professional to scale across a larger time period using smaller lots. A broker can find it easier to hunt a single large position, than to close-out many small positions when a lot of them are likely to build positive equity in the long term. Therefore, drawdown is an integral part of trading but it shouldn’t get so large that your broker will be allowed to close your positions at a loss. Having said this, make sure there are ample funds to trade longer term, considering drawdown could go as much as 20 to 25 per cent or greater. Deposits lower than 1,000 USD stand a greater chance of being drawn down to negative closure than accounts with perhaps 10,000 USD. It’s money you don’t mind losing anyway, right…

Am I really prepared to lose thousands of dollars by trading with an automated forex robot?

YES! You’re trading because you have lots of spare money and it’s money you really don’t mind losing. Sounds strange, as we’re all in the money game to try and gather even more as time goes on. Surely we don’t want to lose cash, right? Wrong! Trading uses risk capital. It’s risk money because we want to risk it. The more we risk, the greater the reward. If we risk some money, we might win some. Trading is an elaborate form of betting. You place a bet that the market will bring you some profit. If it doesn’t, you lose the bet and ultimately your deposit. Simple as that. Sounds harsh because it really is a harsh world in forex. We’re playing against the world’s best technology at the world’s largest banks. Those institutions have been doing this a lot longer than us. We are merely known to them as retail traders. We’re like the small-time mall rats, they’re the big department stores with crafty bosses. They move the money. We get sucked in and hope to survive the ride. If we trade more like them, there’s less chance of losing in the way so many retail traders have been losing until today. These robots can give the average person an advantage when it comes to placing your bets against the institutions. Trillions of dollars flowing around the globe daily, let’s grab a slice and ride along. If you want to take part in the world’s riskiest betting game, make sure you don’t mind losing a lot of bets. Technology can help minimise emotional mistakes, especially if you use good robots…

Okay, I’m ready to trade, which robot do I need?

We offer three bots wrapped inside the WaveGenix Forex Box: HedgeBoost, Project BlueBeam and SpiderWeb Profit Master. They’re each unique and very clever at increasing the bets in your direction for a better chance at grabbing a slice of the profits. Let’s explain a bit about HedgeBoost…

What’s so great about HedgeBoost?

This is a robot which actively runs BUY and SELL positions at the same time. It also attempts partial position sizing and closure. Your broker must allow this kind of trading, otherwise HedgeBoost won’t work. It looks for weakness before it’s expected and scales some buying in ready for the impending strength build-up. Sounds odd but it’s actually possible to come out on top through buying and selling at the same time. They say forex is a zero-sum game. This might not be entirely true. Hedging was banned in futures trading when it came to light that some institutional traders were shorting commodities in manipulative ways whilst holding long. Unfortunately this concept wasn’t quite understood when it came to forex trading and the CFTC decided to impose its power for the worse. Forex suffered as a result and many dealing desks were ordered to refuse hedged positions, thinking they were protecting us, i.e. the retail traders, from wiping our accounts. Well thanks for the help guys! Hedging, when done properly, can be very profitable. HedgeBoost attempts to take advantage of certain price action. It using predictive guess work to be in a good stance before things actually happen, ready to pounce and make money when others lose out. The currently built members edition has improved the hidden (stealth) stop-loss feature which our briefly-available public release of 2013 didn’t really enjoy. By the way, we no longer offer HedgeBoost to the general public. It’s only for our members – this includes you. Don’t worry if you can’t find a broker who allows hedging. There’s something even better…

Do I need Project BlueBeam?

Do you want to make money consistently when others lose? Of course you do, which is why you need Project BlueBeam. This incredible robot spots inefficiencies in the market before others get on board. Thanks to artificial intelligence and good estimation based on historical facts, this robot gets you scaled in for buying OR selling (never both at the same time) using multiple positions across larger time scales. It hides a stop-loss for each order by looking at gains and losses past and present. Partial closing is a special ability of this little beauty – brokers absolutely hate such robots! Brokers find it difficult to hunt stop levels when you keep changing them, especially when each trade is part of a much bigger picture. You’ll find Project BlueBeam opening various positions using a small amount for each one. Combined, this equtes to a good market stance, ready for impending strength or weakness. If you find your broker refusing a lot of trades with this robot, it’s because they’ve heard about its power and they don’t want to give you their greedy pockets. Many brokers deal against the profitable trader and you may find several bizarre reasons in e-mails from the broker, excusing the erratic spikes or “news-spreads-bullshit” they often pull. We heard an alarming tale on the web about a manual day trader who went into good profit, closed the position, then during the night had his position re-opened and spiked down for a massive loss. This should be pretty impossible when using this powerful multi-scaling robot. Good luck beating the broker! If your broker won’t allow partial closing, there’s always the traditional power punch, called SpiderWeb Profit Master…

I hear SpiderWeb Profit Master has improved massively, how so?

Our flagship robot, originally available as a popular public release MT4 plug-in, was featured in a powerful YouTube video a few years back. It was able to trade inside tight spreads, confusing the shit out of dishonest brokers. We soon realised how cool it is to use a stealth stop-loss feature. Imagine depositing just $500 and withdrawing $10 million within two years. Obviously SpiderWeb was causing massive controversy – “Normal people should never be allowed to make huge profits, such activity is only for us, the dishonest bankers of the world.” That was basically the message we felt when a highly skilled hacking group was obviously paid large cash sums to hack the crap out of SpiderWeb’s algorithms. Before we could release a sneakier edition, we were seeing entire sections of reverse-engineered code all over the trading community. When computer software hackers are motivated enough (give a spotty teenager enough money and he’ll always say yes) there’s not much the original developer can do but sit and see a visionary dream fall to pieces. SpiderWeb was able to smash the banks by letting little people win big money. We received all kinds of nice emails and stories from around the world, before the hack was thrown in. HOWEVER, we decided to get back on our feet. We felt it must be better to create the dream of SpiderWeb without the threat to large institutions…

You may have seen the original video, exposing a forex equity trick. Many users reported huge profits but some had concerns about the possibly large drawdowns and riskier-than-ideal stop-loss features (including the broker-nightmare stealth mode). In order to reduce risk and increase consistency, we’ve reigned it in a notch or two. We’ve reduced the massive equity gains this robot was clearly able to generate, hopefully to stop large corporations from taking us down through nasty tricks such as hacking.

SpiderWeb Profit Master is now more consistent at surviving larger market curves. It’s superb at scaling into good probabilities when the time is most profitable. Dips and spikes don’t cause as much of a problem and risk to reward has thus been improved. Unfortunately we had to remove the “inside-the-spread” equity leech. We were also forced to rethink the partial closing feature, which has now been moved to Project Bluebeam instead. There are some drawdown reduction tricks we’ve placed in here for you and SpiderWeb has an improved stealth watch method. You’re getting a robot which has less massive profit pulling power but for this reason it’s far more reliable and very stable. This means that it’s less risky but also (unfortunately) less profitable than the version shown on YouTube. However, in the long term you’re more likely to survive and come out on top, rather than going all-out, risking every cent to your name! We’ve removed the trailing stop-loss feature because it was slowing the robot down and was causing trade context hang-ups with dishonest brokers giving unrealistic requotes. There’s far less for the broker to tamper with, as far as the main strategy is concerned. You’ll also notice as a user that we’ve improved the inputs panel. We’ve hidden many features away from the user-input panel and made them more of a self-detect and self-adjust feature inside the wrapper. It allows HedgeBoost and Bluebeam to call these ideas when required, if those are what you’re using on that particular account.

You no longer decide on stealth (the robot decides for you), you no longer decide on ECN bridging (we take care of all this for you), you no longer determine minimum lot sizing (it’s determined by your account settings), in fact it’s all taken care of through self-diagnostics. Clever coding and advanced diagnostic initialization when you attach the robot to the chart means we’ve taken care of all the complicated stuff before the robot heads in to the trading zone. The advantages? Parameters are adjusted according to results, before, during and after trading, whereas you had to worry about certain factors by yourself prior to these cahnges. One thing to bear in mind though: Although SpiderWeb Profit Master never trades BUY and SELL at the same time (i.e. it doesn’t hedge) and it doesn’t require partial lot size closure, it needs a reliable web speed. It also hates a slow broker. One major problem for SpiderWeb (and this has always been the case) is your broker playing the requote game. It gives the broker a way of preventing profit, so bear this in mind. Keep an eye on the robot now and then in case the broker has sent an alert or message, or something else which can hang the speed of your terminal or connection. This means you’ll need a broker who doesn’t interfere with trades by running positions against you all the time. Don’t worry if your broker runs a dealing desk, or even a straight-through-pocessing system, or perhaps an ECN bridge style account, we take care of all that for you inside the guts of SpiderWeb Profit Master. Just try to use a reliable, fairly honest broker.

SpiderWeb Profit Master is powerful enough to generate a nice steady income, which is why we’ll probably continue to be hacked and so on. As a developer you know you’ve built a visionary product when greedy bastards do everything in their power to destroy it! It’s an improved version now and just like all our other robots here, it’s exclusive to members only. You have access to something the general public will not be able to see, because you’re a member. There are a few things to consider when setting up though…

Why don’t these robots trade any old account size?

In this paragraph, whenever we talk about dollars, we actually mean the currency of your account’s deposit. Some traders deposit dollars, some do it with Euro or Sterling. We say dollars but we mean “your deposit currency”. Here we go…

Deposits below 250 dollars are very risky when it comes to drawdown and margin calls. Small accounts can make good profits but there’s a greater danger of being wiped out when things go sour. Deposits above 12,000 dollars won’t work because we don’t want institutional trading houses to get their hands on this magic. In all honesty, most retail traders can’t afford deposits above 5,000 so it shouldn’t cause an issue. We recommend a deposit of perhaps USD 2,500 to USD 5,000 on each account until you’re comfortable to risk even more. Remember though, if you lose the whole account in one session, it’s not going to hurt you financially or otherwise – please recall the whole risk-warning thing you always see in this industry. It’s all money you are happy to lose, because forex is very risky. No joke, it really is a risky business, so please be aware of this before trading forex. Ideally your account will be in the USD 2,500 – 5,000 range and we want it to grow so you remain a member with us for as long as possible. Note also, when demo testing these robots your account should not exceed 12,000. A message might alert you if the account is too big. We want to have you trading with reduced risk. One way is through smaller lot sizes…

Is it true my account won’t trade if the lots aren’t “mini” sized?

Yes. These robots rely on the fact that we’re not trading large with huge accounts. To reduce risk we only allow mini lots, meaning 0.01 is the minimum size your account can trade. Of course, each robot may trade lots higher than this, say for example 0.18 or something. Generally though, it has to be able to go as small as 0.01 lots if need be. If you find the account will only trade sizes as small as 0.1 lots, ask your broker to adjust the settings, so you can trade as small as 0.01 lots. This is essential to lower-risk trading than standard lots which carry higher risk. The more we can reduce risk, the longer we can stay in the game. The longer we can stay in the game, the more profit potential we can expect to achieve. The more profit potential we can expect, the happier we’ll be as traders. This game has been designed to make some people very rich while many people remain poorer than when they began. Using the rules specified by these robots, we hope to increase your chances of makeing a good living. Mini lot sizing plays a big part of this idea, so please make sure you’re able to trade such amounts. We also want to reduce risk by limiting your leverage…

Why is my 400-to-1 leverage too high?

Reducing risk is what we’re about in the long term forex game. If you take anything from this FAQ it has to be the message that we want you to succeed for a long time so that you can help less-fortunate people to reach a higher potential in life. Improve the planet, help those around you. Don’t be a sucky greedy banker. We’re giving you a chance to make massive amounts of money where many other traders have failed miserably. There’s a sneaky way to win large sums of cash from others’ losses. Reduce your risk! Read it again: reduce risk!!! An account trading on 400:1 leverage carries way too much risk for long term success. 50-to-1 is more realistic. It gives good leverage when using smaller amounts of money yet it reduces risk accordingly and doesn’t expose you to much of the action when things are against your trades. Less leverage means less chance of a nasty margin call. The robots we offer have strict leverage rules. If your account isn’t running a 50:1 leverage, make sure your broker adjusts it accordingly. You’ll need a 50:1 account otherwise these robots will most probably fail to trade profitably. You might receive an alert telling you this, should you attempt real-time testing on over-risky leverage. There’s more to reducing risk and in fact, high liquidity plays a role in better order fulfillment. This is why we won’t allow our robots to trade outside of the euro-dollar pair…

Why the hell won’t your robots work on the GBP-CHF or whatever else I want?

It’s only designed for the super-liquid EUR-USD market so you stand a greater chance of having your order filled as quickly as possible, simple as that. For high-speed automated trading with good accuracy, you need liquidity and a small time frame…

Why is the one-minute chart the only possibility?

All the robots we offer here have been built for realistic market conditions. From a code-engineering point of view, the M1 chart offers the best stability versus realism and the most accurate noise analysis. Please realise however that each robot actually analyses all of the other time frames for a much bigger, more complete picture. The same cannot be said of many other robots! If you attach the robot to any other time frame, you might possibly receive an alert in the form of a warning, telling you to attach it to the 1-minute chart. Some may say it’s a very noisy period when running inside 1-minute candles. Please be aware that these robots analyse roughly two weeks of historical data using various noise-reduction filters. Originally WaveGenix.COM was an audio application specialist website. We know a lot about noise reduction! It might interest you to know that such filters were adapted from work our developers designed for our high-end audio tools. Literally, we used these methods to reduce real noise in music recordings so your CDs sound better. There are some other special things adapted from the wave-based audio world which we’ve tweaked and hidden inside our robots. Elliot waves are definitely in every market, and they are self repeating, on a fractal structure. Such waves are hidden behind many other natural phenomenon. Wave acoustics sometimes display Elliot ideas because Elliot waves have the intrinsic Fibonacci magic within. We use all kinds of kung fu in these robots. You’d be amazed if you ever saw the secrets. Anyhow, showing off aside, if you need to force more historical data, refer to this article which explains it with pictures.

Is there some kind of tool to help me check my settings?

Yes, there’s a special diagnostic tool we’ve built, which scans your terminal in partnership with your chart and data from your broker. The tool generates a report to tell you all the requirements compared to your current settings. It’s useful to find out how many candles are in your historical chart and also whether your leverage is ideal and how many lots are your smallest amount, etc. The mind boggles to wonder why on earth nobody else builds such helpful tools. Our handy little tool can be downloaded from your members area download section. It’s been wrapped inside the WaveGenix Forex Box, along with our three awesome robots. We’ve included instructions for the diagnostic tool so you can get everything running without a headache.

We want you to be successful in trading!

Everything in these robots was put there for a specific reason. It’s smart coding designed to help you win. If you’re a programmer and you’re interested in these techniques, read the next question…

I dabble in making my own experts. Can you share your code?

Quite simply, the answer is (and always will be) a huge no. The code remains the property of Mike and nobody is even allowed to see certain portions of it. He’s like this with some of his clever audio software as well. Only very close programmers are allowed to view certain portions of his less-secretive code snippets. He operates on three levels of secrecy: Level 1 means anybody in the organisation is allowed to view and alter portions of code. This is where much of the general work is carried out; Level 2 means close and trusted colleagues have access to Mike’s code and can actively suggest (and alter if need be) portions of code; Level 3 means we’ll never lay eyes on restricted pieces of code as they’re simply too valuable. It may sound a bit over-the-top but industrial secrets are big money and if we all had access to everything, the computer-driven world would fall apart. Mike is a very hard-working but extremely patient and generous software engineer. At WaveGenix.COM we feel the positive atmosphere and energy created by great dreams and powerful ideas. Please understand if the source code for products on this site cannot be divulged.

My real-time tests have made massive amounts of demo cash. How can I go live?

You’ll need a valid unlocking code from us. Enter it in the robot’s properties (inputs) panel when you attach it to the EUR-USD M1 time frame. This will unlock the robot for a specified amount of time, after which you’ll need a new unlocking code. We are currently offering codes to members via a special subscription service, based on PayPal’s repeat payment model. The subscription service requires you to own a valid PayPal account. If you’ve shopped on eBay, you probably already have access to a PayPal account. Please therefore make sure you have the necessary account number for your trading terminal and that you have a valid PayPal account capable of handling subscriptions. Note, we offer a FREE unlocking service to approved members of this site. Such codes are for small accounts, trading less than 750 (USD, EUR, etc.) on deposit. To apply for access to the free unlocking code idea, please enter your live trading account number in the personal profile section of your membership area. Mike will personally check your membership details and ask the team to generate a free unlocking code for you to trade real money on a live account! It’s a great opportunity but there’s simply not enough room for everyone, so please respect this when you consider applying for a free unlocking code throughout 2014.

2 Comments to F.A.Q.

  1. Dan Er says:

    Hi, does the subscribed (paid) version allow higher trading account size (up to USD 12,000)? If yes, how do I subscribe to get this code?

    Many thanks and best regards.
    Dan

    • wavegenix.com says:

      If you’re a PayPal user, it looks as though we’ll be able to offer a subscription service to you at approximately (not definitely fixed on this price yet though) GBP (£) 8.95 per week to hold up to five separate account codes per week, each for an account of up to 12,000 deposit currency balance maximum. In other words, you’d be depositing say 5 x 10,000 USD/EUR/CHF/etc with your various brokers and as long as the accounts don’t exceed USD 12,000 each, our robots will trade using the unlocking codes found in your members area. If you subscribe at the top level of £8.95 per week, you’ll be given five account number slots to change whenever you like. Each weekend we’ll get our engineers to upload an unlocking code for each of the five account numbers, so you can enter the codes each weekend into the five different accounts. This offers the best value for money for you and the highest efficiency in weekend blackouts where the markets are closed, so you can safely enter new unlocking codes or even change account numbers if you wish. Hope this helps answer your questions.

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