Forex Warrior: Frequently Asked Questions
What is the recommended money management?
The minimal deposit to trade with Forex Warrior is
|Regular $ accounts with minimal lot 0.01 (=$1000)||$10,000|
|Cent accounts with minimal lot 0.1 (=10,000 cents = $100)||$1,000|
|Cent accounts with minimal lot 0.01 (=1,000 cents = $10)||$100|
IMPORTANT: If your deposit is less than $10,000, you have to use a cent account!
If you are trading with the minimal deposit, you should set the starting lot to the minimal lot size, trade one currency pair only (best, GBPUSD) and we recommend that you use one of the low-risk sets.
For optimal performance (profit/risk ratio), we recommend to use deposit of 30,000 (that is, 3 times the minimal deposit) or larger and trade simultaneously 3 currency pairs. A good choice for the currency pairs might be 1. GBPUSD, 2. EURUSD or EURGBP, and 3. AUDUSD or NZDUSD. Another good choice might be to run 2 copies of EA with different settings (and magic numbers!!) on GBPUSD and one copy on EURUSD.
The recommended starting lot size is 0.01 per each 10,000 of your deposit and one currency pair. E.g., if your deposit is $30,000 and you are trading 3 currency pairs, the starting lot size should be 0.01.
What are the recommended brokers?
Forex Warrior is designed so that its works well on most brokers. The only exceptions are NFA-regulated brokers: Forex Warrior trades both long and short at the same time, which is not allowed by NFA brokers. Generally, a high leverage (1:300 or higher) is preferable, as it reduces the margin load on your deposit. If your deposit is less than $10,000, you have to use a cent account, so you need to find a broker, which provide cent accounts. Here are several brokers with cent accounts:
How to apply the preset settings?
Several preset settings files are provided with Forex Warrior. You can apply any of them from the Property window of the Forex Warrior. Property window opens automatically when EA is attached to the chart. If Forex Warrior is already running, the Property window can be opened by pressing F7. To apply the preset settings, press Load in the Property window, select the preset file, press Open and then OK. If you made any changes in the settings, it is recommended that you save the custom set files. To do this, press Save, type the name of a new set file and press OK.
What do I need to change in the preset settings for my deposit and broker?
You need to change only the starting lot size. You can either use the fixed lot mode by setting LotSize variable to the desired value and leaving AutoMM to its default value FALSE. Alternatively, you can use the re-investment mode by setting AutoMM to TRUE. In this case, the starting lot size will be rescaled automatically, proportionally to the size of your deposit divided by AutoMMEquity. E.g., if your deposit is $20,000 and AutoMMEquity=10,000 (default value), then your starting lot will be LotSize multiplied by 20,000/10,000 = 2, that is 2*LotSize.
Do I have to leave my computer on 24/7?
Forex Warrior should keep working 24 hours a day from the market opening on Monday to the market closing on Friday. You can switch it off during weekend but it is not necessary. If you do not have a spare computer for 24/5 trading, you have to use one of the numerous Virtual Private Server (VPS) services. VPS is a special service that can host your trading on a remote server.
How many accounts are included into license?
Forex Warrior license is valid for one trading account. The account number can be changed at any time, free of charge. In order to change the account, you need to send us an e-mail with the request.
How to activate my license?
After you bought your license, you need to send us the number of your trading account by e-mail.
Do you offer refund?
Yes. If for any reason you are not satisfied with our product, we guarantee you full refund within 30 days from the payment date.
I read everything and I still have questions. What to do?