Please download DAXBOT V2.1 demo here (inside zip folder):
DEMO EXPIRY DATE: 23:12:2020
DAXBOT EXPERT ADVISOR Needs to run on DAX 1 minute chart. (DAX/DAX-ECN/DE30/DAX30 symbol depends on your broker)
We operate our accounts in 2 brokers, we suggest you try the same:
VantageFX, OPEN DEMO: https://go.vantagefx.com/visit/?bta=36486&nci=5429
Make sure to get MT4 Demo. (Metatrader 4) Can be any base currency. Will not work on MT5.
Also, Admiral Markets ZERO Account MT4 to run, get DEMO here: https://admiralmarkets.com.au/signup?regulator=asic&ref_id=10188
Will work in any demo account, but many brokers have terrible DAX spreads, so do your homework or take our advice. Higher spread will only affect performance.
We SUGGEST you run the demo on one of our partner brokers and if you insist on your broker, as least compare and run on both.
Symbol is called [DAX30]-ECN in admiral markets and DAX30 in VantageFX.
Please save the EA to:
Open MT4 TERMINAL>File OPEN DATA FOLDER>MQL4>EXPERTS.
How to install EA here: https://www.youtube.com/watch?v=xAfN-NO7VE8
The demo default settings below are good for a €5000 demo, if your demo balance is larger or smaller please make sure to read "Risk size and settings rule of thumb below"
If you run on LIVE account you will get error, it just wont trade, don't try.
Max Long & short = 1 (means wont open >1 long and short at same time in event of another signal coming when trade already open). Keep as 1
Magic Number: Can be any number
Take Profit: 2000 (20 dax points as symbol has 2 decimal places)
Stop Los: 10000 (100 dax points, but system uses Stop and reverse, so only for emergency use)
Use Trailing stop= True (will trail when profit is achieved)
Trail Start: 1500 (+15 points profit activates the Trailing stop)
Trail Stop: 500 (always trail 5 points behind market)
Close Time: 18:30 (Broker is GMT+2 so this is end of DAX session at 5.30pm Frankfurt.) Any open trades Daxbot will close.
Use Trading Time: yes, EA starts at 9.05 Frankfurt and stop opening new trades at 5.29 pm Frankfurt. (This is 1005 and 1829 in gMT+2 brokers - Vantagefx/ICmarkets/Admiral etc)
Lot size: 2.0 (€2 a point - Good start lot for €5000 balance)
Max Lot Size: 16.0 (€16 point, based on €5000 balance)
IncreaseFactor: 2.0 (EA will increase lot size by a factor of 2 by 3 levels to make recovery after loss, so EA will go 2.0, 4.0, 8.0, so in this case use MAX lot size 16.0). EA will trade on next up lot size until WIN, then reset to original lot size. (€2). Loss will rollover from one day to next. E.g If last trade was €2 and lost, next day, the first trade will be €4 point. This is a recovery mechanism that is not be confused with martingale tactic. Martingale tactic adds more and more trades to losing position, ends up with hundreds of trades open simultaneously. DaxBot only ever has 1 trade at a time. Additionally, martingale uses infinite increase of lots, where DAXbot uses 3 levels up and stops. The differences are enormous and should not be compared.
MA Filter: Leave as is, EA uses 80 SMA for filter of bad signal.
RISK AND LOT SIZE SETTING RULE OF THUMB:*IMPORANT*
To mimick our Vantagefx account this is the general settings:https://www.myfxbook.com/members/DaxBot/daxbotv21-vantagefx/7362462
FOR EACH €3000 balance on demo for €1 start lot and max lot €8.
So, assuming a €300 demo, start lot is €0.1 and max €0.80
Assuming a €10,000 demo, then start lot €3 and max €24. So, pro rata the lot size on your Daxbot demo to ensure you are not overleveraged.
This is very important as people will take the demo, apply to a €500 demo balance account and use €5000 settings (start lot 2.0, max lot 16). Obviously this account is too small by a factor of nearly 10 and will not withstand lots of this size, not to mention not enough margin to open trades. So, use your common sense and use the demo properly. Use the demo on as many accounts as you like, play with risk and settings until you are familiar and comfortable with risk and lot sizes. Don't try to learn that on live. Invest your time and effort and you will get out what you put in.
EA better to run all the time, use VPS if you can.
In Live version you get the indicator that generate the signal, so you can see the logic of trade opening, not in demo mode. See indicator below:
Live version has also extra inputs, (Reset Money management each day/Equity Stop loss etc)
Live Monitor in our VantageFX account:https://www.myfxbook.com/members/DaxBot/daxbotv21-vantagefx/7362462
LIVE VERSION FREE:
We will supply you with EA for your VantageFX trading account (new clients only, not existing).
Open Live VantageFX: https://go.vantagefx.com/visit/?bta=36486&nci=5429
Open MT4 RAW ECN & Deposit >€500.
Good reasons you should use VantageFX:
Lot size flexibility from 0.10 on DAX (ICMarkets smallest lot is 1.0 on DAX, same for many others)
Free Trading Bonus $250 for new account from Vantagefx
Proven profitability on our live account.
You get EA free 🙂 big reason.
You get exact same trades as us: https://www.myfxbook.com/members/DaxBot/daxbotv21-vantagefx/7362462
Spread is 0.5 in DAX30 including commission, unbeatable. (ICMarkets is 1.0, Axi is 1.0 and IG is 1.2)
ASIC and CIMA regulation, with multiple currency base options
Fast Account Opening and easy deposit/Withdrawal.
AlnoTrade Intelligent Trading Systems
P: +44 7555041451