Forex Cash Protector

ForexCashProtector.com

Forex Cash Protector (FXCP v 3.0) EA Manual

By ForexCashProtector.com

Version 3.0

Copyright © 2011

For FREE Trading Strategy please visit: http://www.forexcashprotector.com

http://www.forexcashprotector.com/


Description

The Forex Cash Protector Expert Advisor (EA) works on the EURUSD currency pair. The

EURUSD is our recommended currency pair since it has given us the best results and as at

FXCP version 3.0 the EA can only be traded on this pair. We aim to introduce other currency

pairs once we’ve proven that these other pairs are profitable over the long term.

Setup

You may download and setup your FXCP EA in either of two steps:

One way (Step 1a) is that you may download our Forex Cash Protector Installation

file (forexcashprotector_v3_installation.zip). This file contains an executable file that

can install both the dll and the ex4 files in their respective directories at the click of a

button.

The other way (Step 1b) is to manually install the Expert Advisor by following the

instructions below:

Please note that your fxcp.zip contains four (4) files:

Download the following files:

1. fxcp_ea.zip - Forex Cash Protector Expert Advisor File – fxcpv3.ex4

2. fxcp_dll.zip – Contains Forex Cash Protector dll – fxcpdllv3.dll

Extract the files to your desktop then follow the steps below to copy and paste the files

in the appropriate folders.

The fxcpv3.ex4 file must be extracted from the zip file then copy and pasted into your

experts folder located in your installed MetaTrader 4 folder. You may extract the file to

your desktop by clicking on it then dragging it onto your desktop.

Now you will need to copy the file that you placed on your desktop to My Computer >

Program Files > MetaTrader 4 > experts. The precise name of the “MetaTrader 4”

folder may vary depending on the broker you use.

Once you have copied the fxcpv3.ex4 file to the experts folder you may proceed to

copy the fxcpdllv3.dll file to the following location: My Computer > Program Files >

MetaTrader 4 > experts > libraries

You may now close your MetaTrader 4 trading platform (if it was already open) and

restart it. If it was not open then start it.


Upon starting your MetraTrader4 Platform, click on the Navigator icon or press Ctrl + N

to show the Navigator window. In the Navigator window, click on the Expert Advisors

section, you should see a list of available expert advisors. In the list you should see

“fxcp” listed among the other expert advisors that came with MetaTrader 4.

Once you are able to see the fxcp Expert Advisor under the Expert Advisor section of

the Navigator window right click on it and choose “Attach to a chart”. Once that is done

you should see the following dialog box appear:

Navigator Window

Forex Cash Protector

Expert Advisor (should be

gray in color on your PC)

Click on Icon to display

Navigator window


Your screen should be identical to the above in order for your Expert Advisor to begin

trading on an active account (Demo or Live).

Once you have selected the options on the Common tab you may now click on the

Inputs tab and see the following:

FXCP v 3.0 allows users to customize/set the “TakeProfit, StopLoss, MaxRisk,

MaxDrawdown & AutoTrailBy, etc.” Parameters (Please download settings manual to

read more about these settings). Presets from older versions of FXCP can still be loaded,

but only the current parameters (as mentioned above) will be filled in. Simply click on


the “Load” button as shown in the above screen and navigate to your appropriate “.set”

file.

P.S. We recommend setting your TakeProfit to 50.0 as this allows the EA to take better advantage of

trending trades. However it may still close a trade earlier if sees fit to do so.

Press Ctrl + O to show the Options window. Click on the Expert Advisors tab and then

tick the following options:

After you have selected the options shown above click OK and then look to the right

hand corner of your Chart and you should see a smiley face icon like the following:

Once you see the happy smiley face your EA is now scanning for a trading opportunity

and will execute and manage the trade.

Also ensure that the Expert Advisor button looks like the image below:

In addition, ensure that your chart is on the 5 minute time period by selecting M5/H1


And there you have it your Automated Trading Expert Advisor!

Copyright © 2011 ForexCashProtector.com

Forex Cash Protector (FXCP v 3.0) EA Settings Manual

By ForexCashProtector.com

Version 3.0

Copyright © 2011

For FREE Trading Strategy please visit: http://www.forexcashprotector.com

http://www.forexcashprotector.com/


The Forex Cash Protector Team believes in the concept of capital preservation and as such aim at best

to implement concepts that follows the principles of sound equity management and capital preservation

at its fore.

FXCP’s EA Input Settings

The following settings can be used on both the 5 minute and 1 Hour time periods.

Lots - The number of lots the user specify to use on any trade. If either the FRLots or

OptimizedLots options are set to true then this option is no longer considered.

This is user specified lot allocation without considering any form of money

management principle.

TakeProfit - This is the number of pips/points to which you desire to close your trade (in

profit)

Slippage - Slippage is the difference in price (in pips) you expect your trade to be

executed and the price the trade was actually at. A number between 1 and 100

StopLoss - The number of pips/point at which price should not pass if you’re in a losing

trade. The Forex Cash Protector Team recommends that you always use a stop

loss. Whether it is 10 or 500 try at best to specify a stop loss when entering a

trade.

OptimizedLots - When set to true allocates lots based on a specified risk level (a percentage

level) set in the MaxRisk option. This option automatically set the number of

lots to trade with according to the risk specified.

MaxRisk - Is the maximum risk between 1-100% of your portfolio’s balance placed on a

trade.

FRLots - When set to true allow trading of your portfolio based on specific levels of Risk

Tolerance. This method is unique only to Forex Cash Protector as it factors a

trader’s risk tolerance (conservative, moderate or aggressive). It calculates and

places the appropriate lot to trade while factoring strict equity management

principles.

RiskTolerance - A value between 1 and 3 that represents a trader’s tolerance to risk. A

conservative trader uses less risk than a moderate trader and a moderate trader

invariably uses less risk than an aggressive trader


AllowScaling - Another unique feature of Forex Cash Protector, if set to true, allow the exit of

a single trade at different level for maximizing profit gain potential.

TrailingStop - the number of pips to trail a trade by once the trade is in profit

AutoTrailAtProfit - if true then trailing will begin once an order is profitable. This is another

unique feature and is different from a regular trailing stop since this only begins

trailing after the profit target has been attained.

AutoTrailBy - the number of pips to begin trailing a profitable order.

BACK TESTING

This version of FXCP does not allow you to do back tests, mainly because brokers may distort

information when downloading historical data. Past live performance for FXCP can be viewed on review

sites such as forexpeacearmy.com and forexrobotstest.com. The FXCP EA was designed and tested on

live accounts using live data. Therefore we encourage forward testing.

FORWARD TESTING

We have a 60 day, no questions asked, 100% refund policy. So we encourage users to demo trade during

this period to have a more realistic perspective as to what their trading account may look like during

present trading conditions, rather than what it would have looked like in the past. This should also give

to you a better appreciation for how this EA actually works.

Thank you for taking this step with Forex Cash Protector as we look forward to a bright and prosperous

trading future for all our members.

Documents

Forex Cash Protector