FAQ (Frequently Asked Questions)
Scroll down to see more questions and fixes..
When do I get the product after buying?
You will get an email as soon as you buy which will give you a unique link that you can click on that will take you to create your membership then you can access the members area to access all the software and materials. THERE IS NO SEPARATE FEE, YOU GET ALL VERSIONS OF FOREX STEAM IN ONE PACKAGE FOR ONE PRICE.
What is the minimum amount of money required to trade with the Forex Steam systems?
We suggest a minimum of $300-500.00.
Can I use ECN or 5 digit brokers?
Yes, you can use ECN or 5 digit brokers.
Is there anything I have to do once its set up or will it trade automatically? Does my computer need to be on 24/5?
The systems will trade automatically, all you have to do is leave MT4 on. This means your computer needs to be on, if you can’t leave your computer on or prefer not to then I suggest you spend $20-30 a month and get a Forex VPS (coupon steam for 15% off).
Yes we prefer either FXOpen (users reporting much success with FXOpen) Forex.com, FXDD, or whichever broker you use currently.
Are there any upsells or membership fees?
No, this is a one time fee, there are no upsells or membership fees and you receive all updates free.
Is there a free trial or demo version?
We may have this in the future, but at this point we do not and all our efforts are focused on making the system better.
How often does the EA trade?
The EA can be optimized and adjusted to trade often but with most of our users preferred settings the EA has strict parameters which allow for 1-4 trades a day with the light version.
What time frame does the EA trade?
The light version trades M5 and the normal version trades M30.
My Backtesting doesn’t match my trades, why is that?
Our EA’s can’t be back tested because we utilize live data during and before trades to influence the strategy to be used. While most EA’s are static we update our system frequently to stay ahead of market conditions because we recognize that no EA out there can simply not evolve and be successful.
What is the difference between the normal and light version?
These EA’s are very different. They are both trend based but they use different time frames light(M5) normal(M30) and different live data based strategies to determine sharp entry points, trade lengths and trade frequency. They are both very functional and can be easily customized to a trader’s specific style. They can be used at the same time with the same broker but we find most our users like to separate them due to personal preference.
The light version has a 90 SL but the losses are always 20 SL why is this?
It is very customizable. We use a 90 SL with a secondary SL of 20, called a pip retrace. In over 99.9% of trades the retrace kicks in and a 20 pip loss is the outcome. Some users are scared by this and lower it but we are comfortable with it and use 90 the majority of the time.
I want to customize the EA more, add a trailing stop, make it trade only during certain hours, how can I do this?
We are looking at ways to include these features in both versions of our EA’s but until then we do have a solution to add even more customization. Read all about it here.
I see there are some days where there are no trades, why is this?
These are generally random events. Trade frequency is usually steady but if the EA can’t find a safe entry based on our strategy and live data it won’t enter a trade.
Why are some of my trades different from the published results?
The EA gathers live data and stores all the history it can. The longer you run our systems the closer the results will resemble ours.
What country are you based out of?
We are based in a multitude of countries, Canada would be home base.
How many licenses do I get?
You get four licenses in total.
What lot size do you recommend?
You should use what you are comfortable with. We have Money Management (MM) which when set to TRUE will allow you to select a risk percentage. If you are setting your own lot size try .10 and see if you are comfortable with that size, also demo different sizes to be safe.
When is the best time to trade?
Never trade during holidays. The EA can be shut down a few days before and then turned back on a day or two after, depending on user preference.
Don’t trade during news events. We monitor and filter high impact news events using http://www.forexfactory.com/calendar.php and shut down the EA during these times. News filters are currently being worked on as an addition to the EA’s and we hope to have this available soon.
I keep getting Access Denied what do I do?
This means that you have not authenticated or that you have not authenticated properly. In this step by step video it will show you how. Set to play from authentication page:
The EA is not trading what do I do?
If the light version is not trading there are a few things you can do. Make sure that the light version is on the M5 timeframe. Set ECN to TRUE (this often kick starts trading EVEN for NON ECN accounts).
If your account size is smaller than 1000 you may have to increase the Risk Percent with the light version or turn off money management and set your own lot size.
If it is still not trading after you have tried these two things you may want to consider trying one of our recommended brokers.
I have an x on my chart instead of a smiley face
This means you need to click on the Expert Advisors button: see image.