Forexbody Forex Signal Online Help  ( Press F1 ) to show this

Automated forex trading
Please update your copy after every weekend, ( Press Shift + U ) to update now. Works only if registered
  Overview | Normal Trading | Expert Advisor

Update on Weekends
 

 An Overview of Forexbody signal Software  

When you download the file, you will receive a single stand alone file that can be started without installation. When you start the software you may get false alarms from certain antivirus software you have installed. If this happens you Antivirus software will strip some components of the program and hence you may get unnecessary error messages. Please disable such security software when you start the program.
First Time Start
At first time start the program will ask you for 2 inputs, 1: your Time Zone which you can input simply by clicking on the colorful provided map or by entering it manually. 2: The second required input is how much equity is available in your Forex account, please input exact figure here, and this has to be updated after closure of every trade. Please enter exact amount as it appears on your MT4 summary line or your other trading platform. This is necessary for the software to give you the correct trade sizes to input to your Trading platform when you open your trade. Image shown below
In the above example: The time zone entered is -5 which corresponds with Eastern Standard time here. You can input the correct zone for any area in the world but it must be the correct number and must match the time zone you already have in your system clock. Inputting wrong time zone will result in incorrect Forex red and green signals.
2600 in the above example in the second input field corresponds to $2600 in equity you have in your forex account and available for trading. No open trades at this time. It should be input in the field without a dollar sign and the amount must be in USD dollars value. Click Save and this will take you to the EURUSD panel since this is your first time starting the software. Once you exit the software after you have been in another panel the program will remember your currency at the next program start. it will also remember your last time zone, equity and any additional settings you make during previous session.
 
IE Script Error Message Killer
          This item you see in the system tray is a small program that waits for an error usually comes from IE when opening script pages ( DO YOU WANT TO RUN SCRIPT ON THIS PAGE AND there is two buttons YES and NO, so my little program will sit like a watch dog for you and press YES before you can even see the window but only works with English OS.
 
Window Controls
 
 
Important: This software requires a special font and it is installed automatically on English Windows OS, so if you are using non English Windows please Download this font and copy to your Fonts directory.
The program will run on a blank area of the title bar of your top most window and is set to be on top of all windows but completely out of the way of your work area. The right most 3 buttons allow you to control window, minimize and exit.
Click on the T symbol if you do not want the software to be on top.
Move Window
The Left most button allows you to move the window only if not in minimal size, like when you are reading this, you can move the window to any other location in the screen.
Audio Volume Control
This is Audio volume control, it adjusts the volume of the mp3 tune that is triggered when a new signal is generated. In Vista this affects only the volume of this software, In XP it affects the volume of your entire system.
There are 3 tunes, one for Buy signal it will sound only when signal changes, one for Sell signal, and one when the Dow Jones exchange opens or close for the day. Please adjust the volume from 0 to max by clicking on it, the more lit the higher the volume.
Live Market Indices   ( Press Shift + Z ) to refresh if not showing properly
World stock exchange ticker, is set to Dow Jones by default. on the left it will show the exchange symbol. If you click on exchange symbol, then you can access other worldwide stock exchanges tickers. All live up to the second when you see a rainbow color lines above and below the white area, If no colors it means your internet connection is down and you are not receiving the feeds.
Why do you need this?

Market indices provide clues to Forex market trends both short term and long term. The Dow Jones Index, for instance, is the world's most important economic indicator. Since it is very responsive to sensitive issues like dollar quantitive easing, If the Dow goes down the dollar value will go up and if the Dow goes up the dollar value will go down instantly. Thus currencies like EURUSD and GBPUSD will appreciate in value when Dow goes up. If the Dow goes past 10000 the EUR value in USD should exceed 1.50. If it goes lower than 9000 again we should see EURUSD tumble back to under 1.40 again. This is just an obvious example.
 
When you click on the exchange symbol you will get the following to access other world exchanges by simply clicking on either one. To read more about location of each exchange simply move your pointer over each button and you will get information regarding each exchange. When you click on one you will display its symbol and data in the above little window. When numbers are in red, it means the index is below zero, green numbers indicate bullish markets.
The above selector was brought to view by clicking on the Symbol DJI
Currency Selector
  Currency selector displays current pair
 To cycle through the list of currencies you need to click on the tiny buttons to the left and right of the symbol on blue.
 
Click on currency symbol and you directly go to the panel of your pair.
Once you switch to a new currency, the signal will apply to the new selected currency
 
Scalping Option / THIS FEATURE IS TEMPORARILY REMOVED
If you click on the word SCALP this you will be getting scalping signal, more on this later
When scalping is active, you can turn off and go back to normal by clicking on the pink indicator
 
General Outlook for Currency:
These are derived from world wide media sources, it represent the general economic outlook effect on Forex.
 
  Overall Bullish long term trend
When hidden powers that moves the market fill the world about increased risk appetite the dollar will head down while currencies like EUR, GBP, and AUD appreciate in value. This indicator gives an idea of the general market direction and is a great signal for longer term Forex Trading. It could change over a weekend, a month, or a year.
 
  Overall Bearish long term trend
When hidden powers that moves the market fill the world about risk aversion the dollar will head up while currencies like EUR, GBP, and AUD depreciate in value. This indicator gives an idea of the general market direction and is a great signal for longer term Forex Trading. It could change over a weekend, a month, or a year.
 
Forex Trading Signal
When there is no signal this is what you will see if Peace of mind strategy is selected >
When there is no signal this is what you will see if normal strategy is selected
 
 
Appears when there is a Sell signal for current pair. Once a day.
It comes when it is the best time of the day where a sell trade can make our suggested profit limit.
 
Appears when there is a Buy Signal for current pair. Once a day.
It comes when it is the best time of the day where a Buy trade can make our suggested profit limit.
 
Please understand that Buy or Sell signal are provided at certain times for normal trading. depending on your location, the timing may not be perfect and it could be 4 am where you are.
Buy or Sell signals will last for only one hour regardless of market condition, once removed leave your signaled trades open until closed automatically by profit limit assignment. All accounts must be hedging enables with no order restrictions. If your account is held with US NFA regulated broker you must move to their UK branch.

If you come to your computer after signal is gone, you may take the signaled trade only if the market is still within 15 pips from the time of the signal. You can only tell from your charts and only if you have been using signal for a while.

 
Forexbody Signals may appear to you as predictable, overtime you will discover that they are not. A lot of research is done during weekends to get you the best signals for the following week. It is a great idea to update your signal software every week on Sundays just before the market opens. Download fresh copy and delete your old one. Permanent download links are on this url: http://www.forexbody.com/signal-download-thankyou.html
 
Currency Confirmation   ( Press Shift + Z ) to refresh if not showing properly
This will follow the signal graphic and confirms your currency, here is EURUSD pair
Upcoming Event Calender
Click on this button to view news and market repots as well as economy events calendar
 
Events with Red flame will have substantial effect on that currency price.
 
Great Extras Included, Access by Pressing Shift + E on your Keyboard or press the green button:
Forex TV

Shown on the left is video version:

This is main window

Move cursor above arrow on bottom right for options includes full screen

There is wealth of unbiased Forex market information here
   
Forex Widget with real time currency convertor: Market Clues

World stock markets updated live !
15 Minute Delayed All World Currency Converter: Coming Soon.
   
Super media finder and player for entertainment only  
This simple tool gives you access to nearly every mp3, video, game or radio station in the world with high quality playback and 0 advertising.

Enjoy yourself while you trade.

 STARING CONSTANTLY ON FOREX CHARTS CAN DAMAGE YOUR VISION !
EA  
Forex Quotes   ( Press Shift + Z ) if not showing
Currency is identified by flags and prices for majors no longer derived from Interbank provider to eliminate popup ads. however if you use Nzdusd, gold or silver panels you will still get a popup.
Quote and last tick BY INTERBANK PROVIDER AVAILABLE ON NZDUSD, GOLD AND SILVER PANEL, when there is a color column between the quote and the tick arrow that means you are receiving data. If not then your internet connection is off. Please note that this quote is by INTERBANK and does not necessarily agree with your broker quote. To get this for free a a pop up window may appear on your screen from time to time. simply close the window and it will disappear. Keep in mind that Forexbody is not compensated in anyway for display of broker website. and that does not make our software an adware. it is a small price we have to pay in order to get this quality data on timely manner. STARTING WITH VERSION 2.0.4.00 ALL POPUPS WILL BE COMPLETELY ELIMINATED. PLEASE UPDATE YOUR COPY.
 
Suggested Take Profit Limit
Suggested Take Profit limit in points, to get that value in pips just click on the Letters PT you will get:
  Suggested Take Profit limit in pips, to switch value to pints click on PIP.
If you in your Forex account are using fractional spreads, you will be dealing with points, if using fixed spreads you will be dealing with pips, each pip equals 10 points when using MT4.
The number that is displayed above represents suggested profit limit for each signal. You can doube click on the number and then right click on it and select Copy to copy number to your trading platform input:
Copy TP from program Paste TP in MT4
Alternately you may press Cntrl+C to Copy and Cntrl +V to paste in MT4 input field
After you paste the number in MT4 field, you need to press the Blue Copy As button so the the take profit button will be activated if more than required minimum. Once TP button is activated click on it to set profit limit.
Update Equity
As as a trade is closed, type the new equity amount as shown and press Enter. It will be reflected in trade size.
 
As soon as you change your equity value, another input area will appear, Please enter required margin per 100k lot here, The reason this is not done automatically for you is because we all use different platforms from different brokers with different margin policies, In general Margin requirement for pairs like EURUSD, GBPUSD, AUDUSD and NZDUSD is the price times 1000. so all you have to do is look at the Interbank price displayed and enter the first 4 digits without decimal point. If price looks like 1.4 then the other 2 digits are 00. so if we have a price like 1.42854 we need to input 1428 in the price area. Gold and Silver belong to this group, however this may not be the case with your broker.
If price is 0.7 Enter 700, if like 0.5869 Enter 586 etc.
Dollar pairs like USDCAD, USDJPY, and USDCHF, you need to input 1000 regardless of the current price, Please check with your broker for proper values
The above will no longer be an issue since we included the Expert Advisor in the software,  This software will copy the advisor directly into your MT4 and provide you with the best settings that will adjust to the general economic outlook, eliminating the possibility of getting stuck with a losing trade for a long term. The EA will trade for you automatically according to the signal and all TP and Size values. Shown below is a graph of the impressive 5 month back test on EURUSD according to signal parameters. Back testing for longer periods with same parameters did not produce results this good and that is why it is necessary to keep your signal software updated daily.
 
4 months performance below: EURUSD pair
Forexbody Signal Auto trading Robot for MT4 will be included in this software soon !, Currently Testing on EURUSD.
 
4 months performance below: GBPUSD pair
Forexbody Signal Auto trading Robot for MT4 will be included in this software soon !, Currently Testing on GBPUSD
 
This is where practicing a demo account will have great benefit by showing you which are the signals that provide the highest probability of causing profitable trades at different times of the day.
 
Money Management
Suggested trade volume: this the exact number that needs to be copied to MT 4 trade size input, it can be double clicked to be selected and copied to clipboard.
If you click on letters LOT you will get exact trade amount in (K) thousands of dollars. looking like below:
this shows trade size $17 K and 783 dollars. to get back to LOT click on AMT. Please note that your trading platform only accepts trade size in LOT form. so $17,783 should be in put as 0.177.
Here is a snapshot of MT4 volume entry
Never settle for presets, use properly calculated values because with high leverage small numbers make big differences.
Trade volume is calculated based on your equity input and you should update equity value after closing every trade.
In Gold and Silver trading your trading platform my not accept more than one digit after decimal point. so remove extra digits.

Normal Trading

 
Low risk Forex trading is the most advisable for those new to Forex for a simple reason. to make money instead of losing money. The function of this software is then giving you the best time of the day for a Buy trade and the best time of the day for a Sell trade. Trades are then given adequate time to reach an exit which is the suggested profit limit or a trailing stop if you can not watch your trades. If you can watch your trades it is best to leave the trade without limit. in most cases trades do make suggested limit. Those who do not use profit limit may be able to secure additional profits if the currency goes their way with few long candles. however, they may risk losing profits and have the trade turn to a loser after they had a chance to close trade profitable.
Here is an example: In the above chart the GBPUSD started an uptrend minutes after the software generated a BUY signal. within one hour the pair went from 1.5820 to 1.5980 which is 160 pips. The suggested profit limit was 30 pips which would have been made. A 15 pip trailing stop would have secured about 75 pips, meanwhile the trade could be closed manually with 150 pips in profit. Practicing with demo accounts should help you decide the most appropriate exit method to use.
 
In normal trading mode you are provided with a signal to trade for a term of 12 hours, with an objective to only close the trade after making profits. Stop loss is not an option because you are supposed to have a single trade with a maximum leverage of 10:1, which is not that risky. The suggested trade lot assures that you will not exceed this leverage ratio. All the 8 rules are shown below. You need to follow with great discipline to succeed
1. Up to 4 trades in each direction, provided you assign suggested lot and TP
2. When a trade wins, do not open another trade until you receive the next signal.
3. Do not hesitate to take the trade ( try in practice account if afraid )
4. Do not assign a stop loss to a trade, ever, and do not panic when you have a floating loss.
5. If a trade stays more than 12 hours but did not trigger profit limit while profitable, you may close  it. only if profit comes very close to suggested limit. Otherwise use Forexbody EA
6. ( OPTIONAL ) If a trade stays more than 12 hours but did not trigger profit limit and has a floating loss, keep it open and remove the profit limit that attached to it, these trades could turn to big winners !
7. If you receive a signal and you still have 4 open trades in any direction, open the new trade only if in the opposite direction
8. Use lot size suggested by software based on your updated equity amount.
Remember that all signals are intended for practice. After adequate practice it is up to you to move on to live account trading.
 
When using the signal you should stick with one currency per demo account. If you want to use with 2 currencies with same account you should input half the equity value when you update your equity. So if your equity is $6000, and you are going to make an EURUSD trade and GBPUSD trade in the same account, your equity input should be 3000, regardless of the direction of your trades.
 
If you work according the above rules, you will find yourself once in a while stuck with a losing trade in one of the two directions. You will continue to open and close trades in the other direction and you could have 2 open trades in both directions. Your account should continue to grow slowly overtime, but when you have trades in both directions and the market price is some where in the middle there will some thinking to do. You will have then what is called a hedge. Account will stop growing. You will have few choices to make.
 
One of the obvious choices would be the removal of profit limits that are assigned to both parts of the hedge, and waiting for a long term trend to be identified. At the same time, when you do this, with a legitimate broker, all the money tucked away for your open positions will be returned to your account, because your perfectly balanced hedged trades support each other and no margin is required. This gives you the opportunity to start trading normally again while leaving your hedge open without profit limits assigned. If you leave any limits or stops assigned on your hedge you should not open another trades, because the hedge could fall any time one of your limit is triggered and the the remaining part of the hedge will then need its margin requirement from the account.
 
Account will start growing again, until you come to a point in time where a part of your hedge has made substantial profits. The best time to close a Buy trade is when there is a Sell signal, and the best time to close a Sell trade is when there is a Buy signal. When you close the profitable part of the hedge make sure there is adequate margin in the account to support the remaining trade.
 
In the above figure on Friday, an hour after Buy signal the market took a 70 pip dip, which would take down a stop loss if was assigned. Then the market reversed and went up 180 pips in our favor, The suggested profit limit was made and trades were closed winners for both GBP and EUR in spite of the fact that each pair had a different profit limit assigned. 
 

Scalping

 
One can argue that why would I wait all day for a trade to be profitable when I can get that done in minutes?, If all we need is few pips in either direction the day is full of scalping opportunities.
 
In scalping mode you will be taking trades that would only last for few minutes or less, but with high leverage and stop loss. The stop loss is not a stop limit but rather a liquidation that will occur naturally when your free margin goes below zero. Depending on your broker, this may not work with all broker margin policies but with the majority. To find out if this works with your broker you need to test in a demo account and double check with the broker that demo accounts do mimic live accounts in margin aspects.
 
Here how this works:
At certain times of the trading day the market moves really fast within a 20-30 pip range. A scalper is trader who can take advantage of this by making high leverage trades and closing trades when few pips of profits are made. with high leverage few pips means a lot in profit and in loss. Tight stops are not an option here either, since they could be triggered easily ruining what otherwise could be a profitable trade.
 
Picking the right pair to scalp is done based on spread. 2 pip spread pairs are best for scalping.
 
When you scalp you need to use your maximum purchasing power, so if your default leverage is 100:1 in scalping we would use 90:1 which means we will temporarily borrow 90 dollars for every dollar in account equity and use all that money combined in a single forex trade. When the price moves 7-8 pips in favor the trade will have paid the 2-3 pip spread cost and resulted in 5 pips of profits. 5 pips is good money with this kind trade size. If the market moves against you in such conditions, the 10% of account power that is not used will be at risk plus any slippage that precedes liquidation. some brokers allow a lot of slippage to take place before they liquidate. When the trade reaches liquidation limit, All the used margin should be returned to the account. So in this kind of trading you risk losing unused margin. The more you leave unused the greater of the account that you put at risk.
 
The software will provide you a signal, suggested limit and suggested trade lot. This is available on certain hours during the day. It's not good to allow a scalping trade turn to a long term trade with your eyes off the screen. Scalping is done without blinking.
 
Below are the Golden Rules for this Type of trading
 
1. Open the trade and keep an eye on it
2. If you lose twice in a raw, refrain from scalping until lost money is recovered with normal trading.
3. Use 90:1 leverage risking 10% of account.
4. If you experience difficulties closing trades, use profit limit
5. Open very small opposite trades for protection from liquidation if you have to.
 
Scalping without a profit limit may be the way to go. All you need is a successful trade where the market goes in your direction before your order gets liquidated. Closing a winning trade of this size is something you are burdened with, there are thousands or more market conditions, and in this case your personal judgment and experience in Forex trading is key ingredient for successful scalping. 
 
The right way is to setup multiple demo accounts, Download free MT4 software and you can set up as many as you need of any size demo accounts, even without providing any personal info. just fill out the form anyway you want: eg.: City: City, State: NY, Email, any@any.com Phone: 111-1111 etc.

Assign a demo account for every strategy and every variety on that strategy, so when you create account you simply input a code name for your strategy instead of inputting your real name. With MT4 all you have to do to create a demo account is Click File > Creat New Account.

Given enough time you should be able to develop your own winning trading style. Once there you can open a live account for a similar amount of your practice accounts. When are successful and ready it is advisable to open your account with the same broker, which is forex.com UK.

 
Since scalping can not be done without a stop loss it is not advisable. Stop loss is the main reason people lose in Forex, and I will prove that to you in the following section via history testing:
 
Expert Advisor     ( Press Shift + E ) to access buttons
 
In Forex Signal software click the green button 4th from Last you will get the option shown below:
Click on FOREXBODY EXPERT ADVISOR
and you will be taken to a panel where you can download and install robot to your MT4
 
The following is screen shot of the downloader which you can get elsewhere on other Forexbody resources, supports many brokers and one currency.
With the New version it is necessary to set GMT for every broker and GMT settings are provodied in the software for a very large number of brokers.
 
How to Load the Expert Advisor
Click one of the installer buttons then press corresponding OPEN FOLDER button, You will see 2 folders: experts and templates, highlight both folders and copy. Open your MT4 folder, click on a blank area and Paste, If you are asked for replace confirmation Replace Existing Files.

Now Restart your MT4 if it was running, Click on your EURUSD currency chart, and let your mouse hover above Templates then Select one of the New Forexbody templates, There is a low risk one for large size accounts and aggressive high risk one designed for very small account. the EA will be automatically loaded.
Set your GMT according to settings provided in the software or subtract your market watch time from GMT time.
 
GMT settings = 0 at all times for any broker ! To avoid errors due to daylight savings, We do not recommend using GMT setting at all with Forexbody EA, Instead we use reference broker Market Watch versus your your Broker Market Watch, The difference is simply added to the above provided times. Our reference broker is Forexcom UK MT4 and you can download here, If this is hard to figure out, you still have option to send broker name from within our application and we will provide time settings for your broker on your download page.
Shown Below Forexbody New EA loaded with Aggressive settings Shown Below Forexbody New EA loaded with Medium Risk settings Shown Below Forexbody New EA loaded with Low Risk settings
Suitable for small size accounts. $100 or less. Suitable for small size accounts. $100 - $1000 account Size Suitable for large size accounts. $1000 or more.
If Note that trades being closed early or with profits too small, you may need to back test EA with your broker data to determine better settings for trailing stop options, 5 by default. or Use fixed TP and disable trailing stop.
Make sure the Expert Advisor button on your MT4 is Green  as shown >>
 
Old Forexbody expert advisor is still accessible but you need to set your own GMt times for each broker as well
After you run Forexbody Signal Software you can easily Access EA installer as shown below
Click the Green Btn
Click Install EA button that appears next to your broker's name
 
Optimal Settings are automatically Loaded by Forexbody Signal Software but you have to set your own RiskMax value which determines trade size: Right Click on your EURUSD chart > Templates > Forexbody Peace of Mind to load EA optimal settings for your broker, as shown on the left. Select the other Forexbody template for Normal settings.
Forexbody Peace of Mind: Low TP, 2 trades a day within one hour of the day. at a special time of the day.
Forexbody Normal: High TP, 2 opposite trades a day, 7-12 hours apart.