Spready PropEdge Forex Robot – User Manual

Spready PropEdge – User Manual

This article contains the following sections:

• ✅ How to setup this Forex Robot
• ✅ Live Monitoring Account

Symbol List : If you want to use all the 28 pairs then you do not need to do anything, 
but if you want to trade only selected pairs then type them with a comma. 
Symbol name have to be exactly same. If your broker uses some pre text then 
remove those symbol from this list. After you trade for few weeks then 
you realize which symbol is generating bad results then you can remove 
them if you want. But every symbol can have drawdown for some time.

Here is the list of 28 pairs : 
EURUSD,GBPUSD,AUDUSD,NZDUSD,USDCHF,USDCAD,USDJPY,
CADJPY,EURJPY,GBPJPY,CHFJPY,AUDJPY,NZDJPY,EURGBP,EURCHF,EURAUD,EURCAD,EURNZD,AUDCAD
,AUDCHF,AUDNZD,GBPAUD,GBPCAD,GBPCHF,GBPNZD,CADCHF,NZDCAD,NZDCHF;

Target Profit Per Trade : minimum is 5 (USD/EUR/GBP etc). 
This amount is the Take Profit amount for each trade and 
trade will close if losses exceed this amount.
if you want to use 1 pair then starting balance should be minimum 
50 $. 

Here is the leverage calculation for 28 pair:

Target Profit Per Trade : 5$ requires Starting balance 400$ (Leverage required >= 1:500)
Target Profit Per Trade : 5$ requires Starting balance 200$ (Leverage required >= 1:1000)
Target Profit Per Trade : 5$ requires Starting balance 100$ (Leverage required >= 1:2000)

Target Profit Per Trade : 10$ requires Starting balance 800$ (Leverage required >= 1:500)
Target Profit Per Trade : 10$ requires Starting balance 400$ (Leverage required >= 1:1000)
Target Profit Per Trade : 10$ requires Starting balance 200$ (Leverage required >= 1:2000)

if you start with lower balance and lower leverage then 
EA will open 1-2 trade at a time, but EA will work

[ Check Live monitoring account to decide ]

For Prop Trading 
Target Profit Per Trade : 500$ for high risk with a balance 100k$ for 28 pairs (1:100 Leverage)
Target Profit Per Trade : 100$ for low risk with a balance 100k$ for 28 pairs (1:100 Leverage)

After 1 week of trading then you can increase or decrease the amount based on your risk level.

Different broker uses different spread and commission, so profit will not be the same; 
also EA might not open trade in one broker but it might open trade in another broker, 
usually if there is a sudden spread increase then EA will not place a trade 
because it’s a scalping EA and every spread point is important.

Max Daily Profit, Amount [0:OFF] = 0
Max Daily Loss, Amount [0:OFF]   = 0
if you have small starting balance then this feature is not important.
If the value is 0 then it will not work. 
For example, if the value for both is 200 then if Profit become 200$ 
or loss become 200$ then EA will close all trade and will not open any new trade for that day; 
but it will again start trading from next day. Again, if the profit or loss exceed the amount 
then it will not trade for that day. it is suitable if you have higher balance or Prop trading.

High Equity to Close All Trades. Amount [0:OFF]  = 0
Low Equity to Close All Trades. Amount [0:OFF]   = 0
if you have small starting balance then this feature is not important.
If the value is 0 then it will not work. 
For example, if the "High Equity = 2000" and your starting balance is >=200$
then if Equity reach 2000$ then EA will close all trade and exit from the Chart.

if the "Low Equity = 100" and your starting balance is >=2000$ 
then if Equity reach 200$ then EA will close all trade and exit from the Chart.

if the EA exit then you have to start the EA manually. 
it is suitable if you have higher balance or Prop trading and 
if you want to withdraw profit after a certain amount exceed.

Enable News Filter = true/false
if you want the EA should follow Prop trading rules then activate it. 
But it is recommended to use News filter otherwise you can monitor trade during news.
 If it is activated then EA might close some winning trade before news or
 it will do less trade because it will pause trading for about 1 hour during major news.

if you activate it then you have to add the following link WebRequest to the terminal
https://www.forxanalytics.com/calendar/

You can check all news from this link
https://www.forxanalytics.com/calendar/ff_calendar_thisweek.json 

How it works:
The news is copied from below website because most Prop firm including FTMO uses this news data
https://www.forexfactory.com/calendar


if activated, EA download news and create a CSV file "Week21_NewsList.csv" for each week. 
if you open using Notepad then you can see the list of all major news. Check the file 

MT5 Terminal > File > Open Data Folder > MQL5 > Files > 
MT4 Terminal > File > Open Data Folder > MQL4 > Files >

News File will be deleted if older than 35 days

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