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To install the product in your MT4 platform, you must proceed as follows:
Open the root directory of your MT4 platform
To access the root directory of your MT4 platform, start by clicking on the “File” menu located in the upper left corner of your trading platform. From the drop-down menu that appears, choose “Open data folder.” This action will direct you to the root directory of the MT4 platform.
Open the “MQL4” folder inside the root directory of your platform and find the “Experts” folder inside
Restart your MT4 platform
This is necessary for any changes you make to take effect.
Add the URL to the Web Request Section
It is crucial to complete this step to ensure proper setup of the software. Navigate to the “Tools” section and then select the “Options” menu item.
Next – open the Expert Advisors tab and Enable “Allow WebRequest for listed URL:”
and add in a special fild below:
https://nfs.faireconomy.media
Open the quotes chart window
This trading robot is designed for trading on currency pairs. You can use this bot on any currency pair. However, it is best to use this software on currency pairs for which your broker gives a small spread (the difference between the ask price and the bid price). Firstly, these are all the majors, such as EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, AUDUSD, NZDUSD. Also, you can use this trading robot on cross rates, such as: EURGBP, AUDCAD, NZDCAD, EURCAD, EURAUD (these cross rates usually have a small spread).
Also, you can use it for trading gold (XAUUSD).
Below we will give you several portfolios (sets of assets) on which you can get good profitability with a small trading drawdown.
We will show an example of how to install this software on the GBPUSD currency pair.
So, in order to install Scalping Enslaver on the GBPUSD currency pair window, you need to open this window. For this:
Set the timeframe M5 for the GBPUSD quotes chart. Make sure that the M5 timeframe is displayed in the upper left corner of the quotes chart.
Activate the “Auto Trading” button:
Open the “Navigator” folder, find the Scalping Enslaver EA file in the “Experts” branch and drag it onto the GBPUSD M5 quotes chart:
Portfolio of currency pairs on which you can use Scalping Enslaver:
- GBPUSD
- EURGBP
- AUDCAD
- EURAUD
- XAUUSD
That is, you need to install a trading robot on the M5 quote windows of these currency pairs.
You can choose other currency pairs to trade. or add additional currency pairs to this portfolio. However, you need to understand that the greater the number of currency pairs, the higher the potential trading drawdown.
Use XAUUSD only if your trading capital is more than $500 and if your leverage is 1:100 or more.
Money management
Minimal risk
By default, this trading robot is configured to trade with minimal risk. Therefore, if you want to trade with minimal risk to your capital, leave it at its default settings.
Medium risk
In order to increase the amount of trading risk (this will correspondingly increase the profitability of this trading bot), you need to specify the value “5000” for the “Balance per initial lot” variable.
High risk
For high risk trading, set the "Balance per initial lot" variable to "2000".
IMPORTANT:
Trading activity
Many novice traders believe that as soon as they install a trading robot on a quote chart, it should immediately start trading. This is a misconception. The trading robot uses a trading strategy and starts trading when a condition for trading has arisen on the quote chart (according to this trading strategy). Sometimes the waiting time for such a signal can be 1-3 days. This is fine!
Considering that to trade using this bot you will use several currency pairs at the same time, on average this bot will make new trades every day. However, if some days you don't have any new trades, that's okay!
The platform must be turned on at all times!
Please understand, if you turn off the platform on which the trading robot is installed, then you will turn off the trading robot and it will not make trades!!!
If you already have experience, then this remark will seem ridiculous to you, but many novice traders turn off their platform after installing a trading bot... You can’t do this!
So, your trading platform should be on at all times! Including your PC on which this trading platform is installed. If you feel sorry for your PC or don’t want to pay a lot of money for electricity or you don’t have constant access to the Internet, then rent a VPS (Windows-based remote desktop where you can host your trading platform and keep it always on)!