livetraderea

8/2/2019 LiveTraderEA

1/10

LiveTraderEA

User Manual


2/10

Disclaimer

HIGH RISK WARNING: Trading foreign exchange on margin carries a high level of risk and is not

suitable for all investors. The high degree of leverage can work against you. As with all

investments, you should not invest money that you cannot afford to lose. Before deciding to

invest in foreign exchange, you must carefully consider your investment objectives, level of

experience, and risk appetite. Additionally, you must be aware of all the risks associated with

foreign exchange trading and seek advice from an independent financial advisor. Past results are

not necessarily indicative of future success. Your actual trading may result in losses as no trading

system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and

agree to hold LiveTraderEA, their authors and any authorized distributors of this information

harmless in any and all ways.

CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN

LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT

REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS

MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET

FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO

SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO

REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR

LOSSES SIMILAR TO THOSE SHOWN.

All information on this website is for educational purposes only and is not intended to provide

financial advice. Any statements about profits or income, expressed or implied, do not representa guarantee.

U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and

Options trading has large potential rewards, but also large potential risk. You must be aware of

the risks and be willing to accept them in order to invest in the futures and options markets.

Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to

Buy/Sell futures or options. No representation is being made that any account will or is likely to

achieve profits or losses similar to those discussed on this website. The past performance of any

trading system or methodology is not necessarily indicative of future results.


3/10

About LiveTraderEA

LiveTraderEA is a revolutionary middle term fully automated MetaTrader 4 expert advisor. It

is designed to open trades on any market condition and uses dynamic stop loss and take profit

levels based on market sentiment.

The product can be used by either new or experienced Forex investors on any size account. It

is very simple to install, running in profit on all kind of brokers (4 digits as well as 5 digits

brokers). You can take advantage of its built-in money management that assists and protects

your account.

Why is this EA better than other ones?

works on any market condition because it trades market sentiment it is not a scalper robot, so not influenced by the spread uses dynamic stop loss and take profit levels, based on market conditions it does not trade bigger and bigger lots to recover bad trades mitigates the losses in case the market is changing it does not use a grid strategy adapts lot sizes based on market


4/10

Installation

Before you start the installation of LveTraderEA you should have installed on your PC/VPS one

or more MT4 platforms. If you need more information about MT4 you can find here the guide:

http://www.alpari.co.uk/en/trading_platforms/metatrader4/mt4_userguide/getting_started

.html

Step 1

Close the MT4 trading platform if it is open

Step 2

Run: LiveTraderEA_account_number.exe.


5/10

Step 3

Information about the high risk of the Forex market will be displayed.

Step 4

License Agreement will be displayed. Choose I accept the agreement and click Next to

continue.


6/10

Step 5

The setup program detects all MetaTrader terminals on your computer. Select only the MT4

terminals where you want to install LiveTraderEA

Step 6

LiveTraderEA robot is now ready to be installed. Click Next


7/10

Step 7

Wait until the installer copies all the files and Click Next.

Step 8

Choose which MetaTrader instance you want to start and Click Finish.


8/10

Starting LiveTraderEA

Before you drag LiveTraderEA to charts please check your MT4 platform settings from Tools-

>Options->Expert Advisors. Your settings should look like in the following image:

You can use LiveTraderEA with GBPUSD and USDCAD H1 timeframe******We recommend a maximum Risk setting set to 3 if running it on both pairs. That does mean

that if you have 1000 USD equity, LiveTraderEA will use 0.03 lots on any trade, so please be

sure you can trade micro lots on your account.

We recommend you to stop the EA on the last and first week of the year due to low liquidity

by setting isTradeAllowedinput parameter to false.

Open the charts and drag LiveTraderEA on all charts. You should see a smile face in the right

corner.

Important: Your computer must be ON and Connected to the Internet for the expert advisor

to trade. If your computer is not ON or not connected to the Internet, the expert advisor


9/10

cannot open/modify/close orders.


10/10

Settings description

LicenseKey

License number received by e-mail.

orderMagic

The magic number allows LiveTraderEA to find its orders. Use a unique number on one

account.

orderComment

Comment used for all LiveTraderEA orders.

Slippage

Maximum slippage allowed.

UseFixedLots

If true, fixed lots are used instead of calculation based on Equity.

FixedLot

Lots to use if UseFixedLots is set to true

Risk

Percent from Equity to compute the lot size. E.g. if Risk = 3 and Account Equity = 1000 thenlots = 0.3. The recommended value is 5 for one pair and 3 if you run the EA on both pairs on

the same account.

isTradeAllowed

If true, new orders are opened. Even if it is set to false, existing open orders are closed

according to EA strategy.

livetraderea

Documents