Subscribe to stay up to date on my promotions, updates, and new set files.
Recommended account type for trading: RAW-ECN, i.e., accounts with tight spreads.
If you want nothing but excellent trading conditions, use the broker I recommend! That said, you can also use other brokerage firms of your choice.
Suffixes and prefixes in the names of trading assets
IMPORTANT! If your broker displays asset names with suffixes or prefixes, the first thing you must do after installing the expert advisor on the price chart is to specify these additions to the asset name in the expert advisor's manual settings.
For example:
If the name “AUDUSD.+” (with the suffix added) is used instead of the standard asset name “EURUSD,” enter “.pro” in the field for adding the suffix in the manual settings.
If you use “m.AUDUSD” (with the prefix added) instead of the standard asset name “EURUSD,” enter “m.” in the field for adding a prefix in the manual settings.
Trading timeframe - M15
Install Shark FX on the price quote window for any asset. For example, you can install the EA on the price quote chart for the EURUSD currency pair.
There’s no need to install Shark FX on the price quote windows for other assets. This trading bot operates in a single window and will trade all currency pairs in your trading portfolio from that one price quote window!
Selecting Assets for Trading
Shark FX operates on 17 different currency pairs. In the manual settings of this expert advisor, you can choose which currency pairs you want to use Shark FX on. By default, all currency pairs are active. If your broker does not support trading on certain currency pairs from the expert’s trading portfolio, that’s not a problem. In that case, the trading bot will automatically exclude those currency pairs from its portfolio.
So, if for any reason you want to exclude a currency pair from the Shark FX trading portfolio, go to the manual settings and set the value for that currency pair to "False."
Money Management
Automatic Money Management
You can use the feature that automatically adjusts the trade lot size based on the risk percentage. The expert advisor determines the trade lot size to be used based on the stop-loss order size. Since different stop-loss order sizes are used for each currency pair, the expert advisor will trade each currency pair with a different lot size, ensuring that the potential loss does not exceed the value specified in the expert advisor’s settings.
The default risk level is set to 3%; that is, the loss on each trade cannot exceed 3%.
Trading with a Fixed Lot Size
Shark FX can trade with a fixed lot size. You can set the fixed lot size yourself in the advisor’s manual settings.
Total Trading Risk
You can set the total amount of potential losses using the corresponding function in the expert advisor’s manual settings. The default value is 25%. This means that the total loss across all open trades and pending orders cannot exceed 25%.
You can set a different value for this variable that you consider appropriate. However, you should understand that reducing the trading risk will decrease trading activity.
Limiting trading drawdowns over specific periods
You can also set limits on the Shark FX maximum trading drawdown for specific time periods. You can limit the maximum trading drawdown per day, per week, and per month. This will allow you to use Shark FX to trade in accordance with prop firm requirements.
By default, the trading drawdown limit for the selected periods is disabled.
Restricting Trading on Correlated Assets
If you want to restrict trading on correlated assets, you can use the corresponding variable. Why is such a restriction necessary? Given that many assets exhibit similar price movements, trading results on correlated assets also often coincide. If we restrict trading on correlated assets, we reduce the risk of an increased drawdown. However, at the same time, we also reduce the expert advisor’s trading activity and profitability. By default, the value of this filter is 5. This means that the expert advisor will not open more than 5 trades on correlated currency pairs at the same time.
