Fish Forex Robot

by Rita Lasker
Last Update 9th May 2010

v.1.05.09 2010
www.FishForexRobot.com
User's Guide

Introduction

Welcome to Fish Forex Robot

Thank you for purchasing Fish Forex Robot.
I am Rita Lasker, a software designer with a team of programmers and
professional currency market traders. Recently we have developed a
MetaTrader 4 plug-in, Fish Forex Robot. We have spent many months
developing, testing, and optimizing our robot. We have conducted
numerous thorough studies of the market, closely monitoring the
correlations between exchange rates and futures markets, and used our
combined experience to develop Fish Forex Robot.
The team of six professionals has been working for months and today we
are proud to offer you our product. We hope you will enjoy using it. We
are certain that Fish Forex Robot will help you gain great profits and that
you will be completely satisfied with our product.
We take our reputation seriously and hope you will be interested in our
upcoming products.
If you have any questions, you can always rely on our technical support.
Sincerely,
Rita Lasker
Chief Software Engineer

About Fish Forex Robot

Fish Forex Robot is a unique expert advisor plug-in for MetaTrader
4 (see below) that monitors the situation on the currency exchange
market around the clock and places buy and sell orders
automatically for you. It is not a standalone application. Keep
MetaTrader 4 running twenty-four hours a day, and Fish Forex
Robot will do the rest.
The Forex market is open around the clock, five days a week (no
trades take place on weekends).
Disclaimer
Please be aware of the loss, risk, personal or otherwise consequences of the use and application of this
books content. The author and the publisher are not responsible for any actions that you undertake and
will not be held accountable for any loss or
injuries.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options
trading has large potential rewards, but also large potential risks. 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 web site.
The past performance of any
trading software or methodology is not necessarily indicative of future results.
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
UNDEROR- 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.
No representation is being made that any account will or is likely to achieve profits or losses similar to
those shown. In fact, there are frequently sharp differences between hypothetical performance results
and the actual results subsequently achieved by any particular trading program. Hypothetical trading
does not involve financial risk, and no hypothetical trading record can completely account for the impact
of financial risk in actual trading.
All information on this website or any e-book purchased from this website is for educational purposes
only and is not intended to provide financial advise. Any statements about profits or income, expressed
or implied, does not represent a
guarantee. Your actual trading may result in losses as no trading software is guaranteed. You accept full
responsibilities for your actions, trades, profit or loss, and agree to hold Forex Mercenary and any
authorized distributors of this
information harmless in any and all ways. The use of this software constitutes acceptance of my user
agreement.
COPYRIGHT
This book and software is the copyright of and cannot be re-written, re-published,
STORED OR LINKED AT ANY FILE SHARING SITES or FORUMS or used for any other books without proper
referencing without permission. The use of the book and software is limited to your personal use.
Spreading out the copies without paying for them is illegal and protected by international copyright law.
Copyright 2010 Rita Lasker

Forex. An Overview
Forex (FOReign EXchange) is a worldwide exchange market for the
trading of currencies of various countries. Currency exchange rates
vary over time. Buyers and sellers on Forex are large global
corporations, central banks, financial funds, private banks, etc.
They carry out their operations through brokers on exchanges.
In addition, a small portion of trades (23 percent) on Forex are
speculative trades. Speculative trades are somewhat akin to
betting. Traders use the varying exchange rates to make profit
using the buy low, sell high principle.
Novice and inexperienced traders use sheer intuition. Their trading
resembles that of a player in a casino. Luck is their only bet.
Experienced traders carry out their trades using expertise and
calculation. They take into account fundamental and technical
analyses, various economic indicators, and personal observations
they have gathered over the years.
Currencies are traded against each other (currency pairs). There
are many currency pairs, but the most popular are:
EUR/USDEuro/US dollar
GBP/USDPound sterling/US dollar
USD/JPYUS dollar/Japanese yen
USD/CHFUS dollar/Swiss franc
Among the less popular currency pairs are:
AUD/USDAustralian dollar/US dollar
USD/CADUS dollar/Canadian dollar

Trading on Forex is carried out through a trading terminal, and

application that displays the current exchange ratesall the ups
and downson a computer screen. A traders uses a trading
terminal to give orders to the broker to buy or sell a currency.
The most popular trading terminal is MetaTrader 4 (4 is the version
number).
The traders goal is to analyze the situation on the market, to try to
guesstimate the price change, and to open a buy or sell order in
MetaTrader 4.
The difference between a novice and expert trader is that a novice
opens orders chaotically, without a system behind it.
The more experienced a trader, the more systematized is his
trading. At a certain moment, the trader comes up with a number
of techniques and methods that help him make a profit every time.
This collection of techniques and methods is called a trading
system.
MetaTrader 4 is an ideal environment for automating routing tasks.
With a clear understanding of a trading system, it can be fully
automated by writing an application or algorithm that is referred to
as EA (Expert Advisor) or, more commonly, a robot.
A robot automatically generates and executes trading orders, just
as a human trader using his own trading system would do. Thus, if
a trading system is good and brings profit, the robot will bring you
profit, as well.

A Traders Worst Enemy Is the Trader Himself

Stress and a lack of sleep are a traders most common entourage.
When a trader observes losses, however temporary or minimal, or
a quick profit, he risks deviating from his trading strategy. Sooner
or later this will lead to major financial losses. Moreover,
continuous stress undermines something else that cannot be
estimated or compensated forhis health.

Robot trading (also known as algorithmic trading) can prevent or

rectify all the negative consequences of manual or human trading.
A robot is always focused, accurate, and unbiased. It doesnt have
bad days, it doesnt catch colds, and it never feels unwell.
It simply carries out its duty around the clock, no questions asked.
By entrusting trading to a robot, you relieve yourself of daily hard
work and the associated stress.

Trading System
(Skip this section if youre a novice trader.)
The trading system of Fish Forex Robot uses the exchange rate of
the EUR/USD currency pair between the daily closure time of open
outcry trades and the opening time of the CME Globex electronic
trading platform. After the closure of open outcry trades at 15:00
EST, a target is formed. A target is the opening price of the 15:00
bar.
After this, the price of the EUR/USD currency pair flats out and
fluctuates lightly within a margin of 1040 pips (percentage in
point).
When Globex opens at 18:00, over the course of a few hours the
price will reach the target, which is the exchange rate at the
moment of closure of the open outcry trades.
Two limit ordersa Sell limit order and a Buy limit orderare
placed at the moment of the 15:00 bar. The orders will be executed
once the exchange rate reaches them. Eighty-four times out of a
hundred, trades are closed on Take-Profit Orders.
In about 16 percent of cases, typically, in case of a strong trend,
the price may never reach the target. In this case, the trade is
closed on a Stop Loss order. This triggers the execution of an
adjustment order, which compensates for the the drawdown.
Because there is a great chance of the market opening with a large
price gap on a Monday, orders are not placed on a Friday.

Installation and Setup

Installation
Fish Forex Robot is a plug-in that requires MetaTrader 4 to function.
If you already have MetaTrader 4 installed, place the file
FishForexRobot_v1.ex4, which you have purchased from
www.FishForexRobot.com, in C:/Program Files/xxxxx/experts,
where xxxxx is the name of your MT4. For example, the MT4 from
FXDD is called FXDD - MetaTrader 4, and the complete path will
look like this:
C:/Program Files/FXDD - MetaTrader4/experts
Relaunch MetaTrader 4 and skip to Step 3 below.
If you do not have MetaTrader 4 installed, you need to download it
from a Forex broker web site. We recommend using only well
known, reputable brokers that have been on the mark for a long
time, such as:
FXDD http://fxdd.com

FxPro http://fxpro.com

Alpari UK http://alpari.co.uk

Follow the links above, choose your Forex broker, and download
MetaTrader 4 for free.

After you download MetaTrader 4, install it on your computer. This

is a standard and simple operation.
Setting up Fish Forex Robot
Step 1
After the installation of MetaTrader 4, place the file
FishForexRobot_v1.ex4, which you have purchased from
www.FishForexRobot.com, in C:/Program Files/xxxxx/experts,
where xxxxx is the name of your MT4. For example, the MT4 from
FXDD is called FXDD - MetaTrader 4, and the complete path will
look like this:
C:/Program Files/FXDD - MetaTrader4/experts
Step 2
Launch MetaTrader 4 by selecting it from the Start menu.
When the application launches, it presents a window in which you
need to enter your demo account details. Carefully fill out all the
fields. Selecting the I agree to subscribe to your newsletters
checkbox makes the OK button available. Once you have filled out
all the fields, click OK.

When you click OK, your demo account will be registered and you
will be signed in with the system with your demo account details.
Your account number is displayed on the left of the window title. If
you see it there, it indicates that your account has been registered
successfully and you have logged in the system.

Step 3
Take a look at the Navigator panel on the left of the main window.

The Navigator panel displays all the accounts, indicators, expert

advisors, custom indicators, and scripts available to you. Lets focus
on Expert Advisors for now.
If you followed the simple instruction above, you should see
FishForexRobot_v1 under Expert Advisors.

If you dont see it there, please make sure you have placed the file
FishForexRobot_v1.ex4 in the correct folder, as described above.
Relaunch MetaTrader 4 and check Expert Advisors again. If
FishForexRobot_v1 is still not listed there, contact our technical
support via email at support@FishForexRobot.com
Step 4
Please use EUR/USD pair, H1 Timeframe ONLY.
Maximize the EUR/USD graph and drag FishForexRobot_v1 from
the Navigator panel onto the graph window.
A window with the robot settings appears.
Make sure you select the checkbox labeled Allow live trading in
the Common tab. This will allow the robot to place orders
automatically.

In the Inputs tab, youll find the variable parameters of the robot.
This is where you can change the value of the first lotLot1Size.
Note: Be careful. Increasing the size of the first lot will maximize
your profit, but small initial deposits (up to $200300) also
increase the risk of financial losses during the execution of the
adjustment order.

Important: Make sure you set the correct time difference between
your terminal time and the New York time (EST) in the
NewYorkShift field. If you are not sure what your terminal time is,
ask your Forex broker. Your terminal time may be different from
your time zone.
Also you can do this:
Switch for M1 timeframe (choose M1). Look at the lower
right side ot the chart. You can see DATE and TIME of
MetaTrader.
Go to:
http://24timezones.com/world_directory/current_new_york_ti
me.php Look for "current time in NY"

Define the difference between TIME of MetaTrader and

NY TIME. This is the "NewYorkShift" itself.
This is the right way to set robot's time properties
Click OK. Switch for H1 Timeframe.

Step 5.
In the top right corner of the terminal window you should see the
name of the robot with a cross next to it. This indicates that your
robot has been activated but your terminal does not allow
algorithmic (robot) trading.

To allow robot trading, click Expert Advisor in the toolbar.

Once you click Expert Advisor, a smiley face will appear next to the
robot name, instead of the cross.

Great. You have successfully installed, set up, and launched the
robot. Now it will trade, open and close order automatically and
completely independently without any intervention on your part.
You can watch the results of its work in the computer screen.
As a rule, the results become visible starting on 15:00 EST.
The bottom part of the window displays the trading and their
results in two tabs: Trade and Account History.

If you do not see the tabs, press CTRL+T on the keyboard to

display the trading window.
Good luck with your trading!

A Few Pointers
When placing the minimum deposit (up to $200), we highly
recommend that you do not increase the size of the first lot
(Lot1Size) in the robot settings. This may cost you financial losses.
But of course, this is all up to you.
Make sure you set the correct time difference between the terminal
time and the New York Time (NewYorShift). If you do not set the
time difference, the robot will place orders at wrong times, which
will result in incorrect operation and more financial losses.
Follow financial news closely. If there is a news of a serious
economic turmoil, we recommend disabling the robot on that day
(or days). This is because market trends can be unpredictable. Your
Forex broker will have a news feed available for you. The rest of
the time, the robot will require no intervention on your part.

The Proof Is in the Pudding

Take a look at the results of the back test of our robot for the
period of October 2009April 2010.

We are certain that your income will grow as steadily as in this

graph for a long, long time.

Click to zoom:
www.FishForexRobot.com
Rita Lasker
April 2010