It is possible to run several copies if the same (or different) EA on the same chart and even have one working only if the previous one was not triggered. For example, not only can we run trades on the 08:00, 10:00 and 12:00 candles but we could run a trade in the reverse direction at 9:10 if the 8:59 same direction failed to trigger because the candle size was not large enough (maybe only if it had retraced by more than 5 pips), etc. Numerous scenarios are available and the choice is yours.

    The EAs must be used on the MetaTrader platform and we recommend FXPro.com or, for US traders WindsorBrokers.biz. Both are EU regulated (and Windsor also by the UK's FSA) and have all the instruments, very tight spreads and very low margin requirements. However, any MetaTrader can be used as long as the broker allows Expert Advisor trading. Below is the graph of performance from the above example showing the very low drawdowns encountered, meaning the Gold Trade Pro EA can be extremely safe when set up correctly as determined by back testing.

    Of course, this is an exceptionally good result (80% success rate) but there are countless examples of profitable set-ups to be found in dozens of instruments in all three time frames. . In fact, there are 48 half hour candles, 24 hour candles and 6 four hour candles and 1,440 minutes every day to consider - and all potential signal generators able to trigger a trade at any time within any candle. Virtually limitless possibilities...

     The comprehensive guide will not only show you how to install and use these EA but also how to find trading opportunities and back test for profitability, fine tune and perfect your own auto-trading systems. Just leave them running and you are free to work or play while the EAs monitor, place and manage trades 24 hrs a day, every day.

 Introduction (Taken from the Users Guide)

  Thank you for purchasing the Gold Trade Pro EA collection. You will find them extremely versatile and, with a little practice, anyone of average intelligence can set up several profitable trading systems that will run automatically from your computer – leaving you free to do anything else. This is not the only, or even the main, advantage of auto-trading. The vast majority of traders cannot stick to the rules and so lose money unnecessarily.

  For example, you have a profit target of 50 pips and, after a several hours in front of the screen, the required setup has triggered your trade and it’s 35 pips up, but now retracing. There is a huge temptation to close the trade for +30 pips and breathe a big sigh of relief. You do so and half an hour later, it hits the +50 pips…

  Or maybe you are 20 pips down and, rather than allow it to hit the –30 pip stop, you chicken out and close the trade because the stress is too high. An hour later it is well into profit. The ways to mess up a trade are endless and start with refusing a good trade simply because ‘it doesn’t look right’ and you’re scared of losing!

  An EA doesn’t care about time, has endless patience, no emotions and always, always follows the rules. Whilst it is true that good manual trading by an experienced and successful trader will always be better than any EA, for most of us (and certainly for the 95% who lose all their capital trading) a nicely set up EA will be much better.

  Many people confuse EAs with ordinary indicators. I sell several manual trading systems that come with indicators to show when to trade and many people e-mail me asking about the EA that doesn’t exist. An EA is an Expert Advisor - a piece of software that attaches to a chart that is programmed to look for a specific trading signal. When that signal arrives, it automatically places the trade with your broker, complete with a stop loss and a take profit order. It can also move the stop up to zero or slightly in profit once a certain number of pips have been made (to give a no-loss trade, whatever happens).

  I have always spoken out loudly against EAs because they try and copy manual trading systems and I rightly state that discretion is required when trading. However, EAs are highly in demand and too many people dream of making money ‘while they sleep’. I developed these Gold Trade Pro EAs to work without any indicators, so they do not try and copy manual trading at all.

  They work on price action alone (which many seasoned traders use) and seek to make a profit from proven statistics, rather than any ‘logic’ existing at the time of the trade. For example, we notice that (and I am making this up) the AUD/USD often has a big move just before the Asian session starts. Looking back at the chart we notice several large 1-hour candles right before the open. That is to say, large compared to the preceding candles. In fact, when they are over 15 pips, there seems to be a continuation of that direction for several hours.

  So, a bull candle over 15 pips maybe signals an up trend for the beginning of the Asian session and a bear candle over 15 pips looks like it signals a down trend. Of course, this might just be a fluke occurrence in the last weeks. In order to test it, we load our EA and input the correct parameters and then run MetaTrader’s inbuilt ‘Strategy Tester’ over the previous three months. I will cover using the Strategy Tester and isolating profit opportunities in full detail in a later chapter. We guess a 20 pip stop and a 30 pip take profit. Trades are triggered on about half of the 60 days tested and the success rate is 43.3%, meaning we had 13 wins and 17 losses giving a profit of just 50 pips.

  Actually, this is quite good because we haven’t optimised the trade yet. We can spend an hour or so adjusting the stop and take profit and the required candle size. Larger candles mean fewer trades but a higher success rate and vice-versa. However, sometimes, more trades means a shorter maximum losing run, which may be preferable for morale. In the end, we settle on a minimum candle size of 12 pips, a 25 pip stop and a 45 pip take profit. This proves to be the most profitable with 35 trades, and only 16 losers – giving us 455 pips profit. This would be, $4,550 trading one contract or about $1,500 a month. We further test and discover that moving the stop to +5 when we have 30 pips profit gives us another 140 pips. Lastly, we find that adjusting the trading time to 5 minutes before the open (rather than one minute before) squeezes some more pips out of the trade…

  Satisfied that we have a system that should be profitable (a margin of error is always required) we install our EA on the AUD/USD chart and make sure the computer is running from ten minutes before the Asian session opens until the trade has closed. Having done this, we can forget about it and allow the EA to do its job!

  Given the almost countless possibilities of instruments, time frames and 1,440 minutes in every day, we can play around with finding trading opportunities until the markets ever cease to function. This is literally true. There are countless profit opportunities to be found and, because conditions slowly change, they will need to be updated or scrapped and new ones found.

  The Gold Trade Pro EAs work on the 30 minute, the 1 hour and the 4 hour charts and can be set to trigger at any time during the life of any specified candle in either the same direction (up or down) as that candle or in the opposite direction. Additional features were tested and deemed to be unnecessary and did not increase profits (such as trailing stops and the ability to close a trade at a set time). Several EAs can be run on the same chart by having multiple copies of the chart open and we can have the reverse direction EA maybe triggered if the normal direction version fails to trigger, etc., etc.