Forex Set and Forget: Your Initial Deposit?

It seems that, in all the documentation that comes with Forex Set and Forget, I somehow managed to forget to mention what your initial deposit to your account should be! OOPS! So, I will summarize it here as best as possible...

• If your account can place trades of 0.01 standard lots (1 pip = $0.10), then deposit at least $300 and set minTradeSize=0.01, and set scaleDivisor=300 (at least).
  
  
• If your account can only place trades of 0.1 standard lots (1 pip = $1.00), then deposit at least $3000 and set minTradeSize=0.1, and set scaleDivisor=3000 (at least).

• If your account can only place trades of 1.0 standard lots (1 pip = $10.00), then deposit at least $30000 and set minTradeSize=1.0, and set scaleDivisor=30000 (at least).

That's pretty much it. With these settings, Forex Set and Forget can withstand losses of at least 9 consecutive trading rounds and still have enough left in your account to recover fully. Not that you want to lose so many in a row, but knowing that you can do so and not lose everything will help your emotions when trading.

Forex Set and Forget on Tadawulfx?

A customer contacted me today because his Forex Set and Forget was trying to place trades of 0.00 lots on his Tadawulfx account. It was a mystery to me but once I signed up for a demo account and ran MT4, the problem became obvious. It seems...

Tadawulfx has a minimum trade size of 0.05 standard lots. The templates I provide with Forex Set and Forget use a minimum trade size of 0.01 lots on accounts that allow micro-lots. The solution, then, is to adjust two parameters:

minTradeSize=0.05
scaleDivisor=1500

Then make sure you have at least $1500 in your account and you should be good to go.

An alternative is to simply use the templates made for "standard" accounts and deposit at least $3000 in the account.

But my suggestion to everyone is to use a broker who allows micro lots. I use Forex Place and a few others for both live and demo trading. Forex Set and Forget is optimized for Forex Place, but will work on any broker that has similar spreads to Forex Place.

Forex Set and Forget version 2.00 Delayed Yet Again

I have been forward testing a release candidate for version 2.00 of Forex Set and Forget, while at the same time working on improvements to the entry and exit logic, which I'm not yet 100% satisfied with. Well now it seems I have come up with a new entry logic that I think I'm happy with, which means more forward testing is required. Maybe I'll get lucky and stumble upon the "ideal" exit logic as well, before I release version 2.00. I'm thinking mid-september or early october for release to the public.

If you are one of my JV partners and want to test the latest and greatest, send me a support ticket and I'll get back to you.

Forex Set and Forget: New Review Published

I just found this review from 4xProject about Forex Set and Forget. Check it out. It is very interesting. Not your ordinary "yeah I never used it but you should buy it using my affiliate link" type of review. This one actually has some guts to it.