So, after buying this Expert Advisor, we sent it to you via email. The standard package includes:
- Master PA Robot Expert Advisor File
- Archive with set-files for automatic configuration of Master PA Robot.
Download these files to your computer. The archive with set-files must be unzipped. If you do not have an archiver on your computer, use this free program – 7zip.
Key features and requirements
- Timeframe to use – H1
- The list of assets for use is not limited. The basic trading portfolio is described below. To set up an adviser for trading on other assets, it is necessary to carry out optimization (how to do optimization is described below).
- Trading hours – around the clock
- Trading strategy – Price Action (determining the strength, amplitude and direction of price movement without technical indicators).
- The EA does not use averaging and trades only 1 trade on 1 asset at a time.
- The EA uses Stop Loss orders to limit losses.
- The EA uses an algorithm to force the closing of a trade after a certain time (specified in the settings) expires.
- Recommended leverage – any (for the “LOW RISK” strategy) or 1:100 for the “MEDIUM RISK” strategy or 1:500 for the “HIGH RISK” strategy
- Recommended broker for trading – any broker
- The recommended account type for trading is any. However, please note that the smaller the market spread, the better trading results you will get. So, we recommend using the commission account type of the ECN type (that is, with a narrow spread. We recommend choosing an ICMarkets broker for trading and using the RAW SPREAD account type.
- The EA has a high recovery factor, so it recovers quickly after a loss. So, if you have received a loss, there is no need to panic – the adviser will very quickly block it with a profit.
- The Master Price Action Robot Expert Advisor uses the classic Money Management system, so its profitability chart is not ideally shaped (there are periods of drawdown and periods of growth). However, this method is the safest in the long run. You will never lose your deposit!! It is very important. If you want a smooth, flawless deposit growth chart, then you can choose an EA that works on the averaging and martingale strategy, however, in this case, there is a risk of a one-time loss of all your capital.
Installing Master Price Action Robot
Copy the Master Price Action Robot EA file to the root directory of your MT5 platform. For this:
Click on the “File” tab in the internal menu of your MT5 platform and select “Open Data Folder”
Open the MQL5 folder
Copy the Master Price Action Robot EA file to the “Experts” folder
Restart your MT5 platform so that the EA file is initialized inside its directory.
Selection of assets for trading
In the archive with automatic settings (which we send you after purchase), you will find settings for many assets. We advise you to use the adviser on all assets, the settings for which you will find in our archive. This way you will create a diversified portfolio (significantly reduce the trading drawdown – make the profitability chart smoother). Also, at the bottom of this page you will find instructions on how to set up the Master Price Action Robot for trading on other assets. In this way, you can expand your trading portfolio even further.
So, in order to use the underlying assets for trading, open the windows of such assets as:
- AUDCAD
- AUDJPY
- AUDSGD
- AUDUSD
- CADJPY
- EURCHF
- EURGBP
- EURJPY
- EURUSD
- GBPJPY
- GBPUSD
- NZDCAD
- NZDUSD
- USDCHF
- USDJPY
- XAUUSD
To do this, click on the “Overview” item in the internal menu of the platform and select “Market Watch”
Right-click on the list of assets and select “Show All”
Next, in order, open the windows of the assets listed above.
For each quote window, use the H1 timeframe.
Enable “Algo Trading” button
Installation of Master PA Robot on the quotes chart and its automatic setting
Select the menu item “View” and the item “Navigator”
Drag and drop the Master Price Action Robot EA file onto each open window. At the same time, after opening the settings window (after each drag and drop), set the automatic settings (from the “Set-files” folder that we sent you in the archive).
Please note that the name of the set file must match the name of the asset to be traded. In this way, you apply precise automatic settings to the Expert Advisor PA Robot Master for trading on the selected asset.
Choose the Right Trading Style
When choosing set-files, you need to decide which style of trading you want to choose. We have prepared 3 types of settings:
1. Low Risk – the account size will grow relatively slowly, but with a small trading drawdown. We recommend choosing this type of setting if you use low leverage (for example, if the leverage is from 1:1 to 1:50). Also, we recommend this type of settings for trading on a small deposit from $200 to $1000.
2. Medium Risk – account size will grow rapidly with an average trading drawdown). We recommend this type of setting for leverage of 1:30 and above. And also for trading accounts, the size of which exceeds $1000.
3. High Risk – the account size will grow very quickly, but with a large trading drawdown. This setting can be applied if your leverage is 1:500 or higher and the deposit size is more than $1000.
We recommend using “Low risk” or “Medium Risk” so the Master Price Action Robot Expert Advisor will trade with a small drawdown and your nerve cells in the body will remain unharmed))
So, as a result, you will get a wide-diversified trading portfolio that:
- Actively trades (there will be many trades every day)
- The trading results of one asset will diversify the results of another trading asset. If you get a loss on one asset, then profit on other assets will give you a total profit on the portfolio. A diversified portfolio quickly recovers from a loss.
Fixed and automatic risk calculation
By default, the EA is configured to trade with a fixed lot. This is the most appropriate risk management solution. In this case, the profitability graph will be smoother.
We recommend using a fixed lot of 0.01 if your deposit is less than $1000.
When your deposit is over $2,000, set a trading lot of 0.02; when your deposit is over $3,000, set a trading lot of 0.03.
Thus, you will be able to smoothly increase the size of your trading lot along with the growth of your trading account.
If you want to use the algorithm for automatic calculation of the trading lot, then activate this function in the manual settings.
To do this, set the Auto-lots variable to “True”.
Description of variables in manual settings of Master Price Action Robot
- t1 – how far the last price bar should move at the time of estimating the quotes chart
- t2 – how far the penultimate price bar should move at the time of estimating the quotes chart
- Delta_L – Price difference of the first and second bar for opening a BUY deal
- Delta_S – Price difference between the first and second bar for opening a SELL deal
- TakeProfit_L – Take profit in points for BUY
- StopLoss_L – Stoploss in points for BUY
- TakeProfit_S – Take profit in points for SELL
- StopLoss_S – Stoploss in points for SELL
- Lots – The volume of the initial position if AutoLot=false.
- AutoLot – Enable the algorithm for automatic calculation of the trading lot
- BigLotSize – Lot multiplication factor after loss
- OneMult – Restriction of lot multiplication algorithm. After a loss, the lot is multiplied, with such a lot the Expert Advisor opens positions until a profit is made. If false, multiplication is performed for each newly opened position
- TradeTime – Time to evaluate the market and enter the market
- MaxOpenTime – Maximum position lifetime (in hours).
The need for a VPS server for round-the-clock trading
This Expert Advisor opens trades at a clearly defined time, however, for each asset, the opening time of a trade is different. At the same time, the closing time of transactions is not exactly defined. We set only the maximum time for the existence of transactions, during which quotes must reach Take Profit or Stop Loss levels. Thus, the trading process is carried out by the Master Price Action Robot around the clock.
If you use your home computer for trading, then this computer must be turned on around the clock. This is a bad decision. Therefore, we recommend that you use a VPS server, that is, a remote desktop on which you can install a trading platform. Thus, your home computer may be turned off. The Expert Advisor will be installed on a remote server that works quickly, around the clock and without technical failures. Choose a Windows-based VPS because only on such a remote server you can install the Metatrader 5 platform.