Please download DAXBOT V3.1 demo here (inside zip folder):
DEMO EXPIRY DATE: 31:01:2021
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 VantageFX, we suggest you also try them.
VantageFX, OPEN DEMO: https://go.vantagefx.com/visit/?bta=36486&nci=5370
YOUR DEMO should have €1000, MetaTrader4 STP OR ECN. Leverage 500:1
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.
The ZIP file above contains 2 files, one is the EA, the other is the indicator that drives the signals.(dax30indi.ex4)
Please save the DEMODaxBotV3.1 EA to:
Open MT4 TERMINAL>File OPEN DATA FOLDER>MQL4>EXPERTS.
Please save the dax30botindi to:
Open MT4 TERMINAL>File OPEN DATA FOLDER>MQL4>INDICATORS
We made a QUICK INSTALL VIDEO HERE: https://youtu.be/LSEPZM6c158
The demo default settings below are good for a €1000 demo, if your demo balance is larger or smaller please make sure to read "Risk size and settings rule of thumb below"
BY using START LOT=1 and MAX LOT=4 on a €1000 demo you will have identical risk parameters to this model account that will generate >30% month: https://www.myfxbook.com/members/AlnoTrade/daxbot-v31/7599617
If you have a €5000 demo then start BY using START LOT=5 and MAX LOT=20 and so on.
If you run on LIVE account you will get error, it just wont trade, don't try.
MAX Trades per Day = 10 (will open up to 10 trades a day, user can can more or less, it will stop at 10)
Max Open Trades Same Time = 1 (Increase to have more than 1 trade open simultaneous, we suggest to use 1)
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
Day Of week = Client can disable certain days
Magic Number: Can be any number
Take Profit: 2000 (20 dax points as symbol has 2 decimal places)
Stop Loss: 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: 1000 (+10 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 5.00 pm Frankfurt. (This is 1005 and 1800 in gMT+2 brokers - Vantagefx/ICmarkets/Admiral etc)
Lot size: 1.0 (€1 a point - Good start lot for €1000 balance)
Max Lot Size: 4.0 (€4 point, based on €1000 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 1.0, 1.0, 4.0, so in this case use MAX lot size 4.0). EA will trade on next up lot size until WIN, then reset to original lot size. (€1). Loss will rollover from one day to next. E.g If last trade was €1 and lost, next day, the first trade will be €2 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.
RISK AND LOT SIZE SETTING RULE OF THUMB:*IMPORANT*
To mimick our Vantagefx account this is the general settings:https://www.myfxbook.com/members/AlnoTrade/daxbot-v31/7599617
FOR EACH €1000 balance on demo for €1 start lot and max lot €4
So, assuming a €500 demo, start lot is €0.5 and max €2
Assuming a €10,000 demo, then start lot €10 and max €40. 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 €2000 settings (start lot 2.0, max lot 8). Obviously this account is too small by a factor of nearly 4 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.
EA also uses 80 Simple MA Filter, so only open short below SMA and long above It. See image. Daxbot will flip the signal from long to short when opposite signal arrives.
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
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