PipSpringPlus Manual to a Live Account
PipSpringPlus Manual to a Live Account
Forex, futures, stock, and options trading are not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the PipSpring methodology, systems, trade alert software or the information in the website will generate profits or ensure freedom from losses.
Licensing Congratulations for securing Copy of PipSpring+ Range of Trading Software.
Each copy purchased can work for one user on a maximum of 3 computers. If you use the software on more than 3 computers will freeze or stop taking trades.
You don't need to do anything to activate the software its done automatically by an algorithm when you connect to the internet.Background
I have been trading part time since 2006 and started trading full time in 2008. My partner Reza has a background in Mathematics, Software Programming and financial trading.
We met with Reza a couple of years ago and discovered our interest in trading and our desire to change the trading Arena.
PipSpring+ Software is one of the major projects that we shall undertake in the next couple of months. We have a vision to design a trading system that truly works for every kind of trader.
– For those with a day job and prefer to trade part time
– For those who like to see rapid movement and close their trades by close of business
– For those who like to capture big trades and let them run for days
– For those who like to retain control of their trading and get involved in every trade entry and exit
– For those that those who like to trade with robots that work
– For those who like to experiment and try out new ideas in their trading – For those who just want to make money
PipSpring+ Trading Solution is here to meet every trader's unique trading situation as you'll discover below.History
In October 2013 we started the PipSpring Project, simple trade alert software based on a Trend strategy. On December 2013 we released it to a limited number of our subscribers. We also published every trade alert on our website, which can still be found here http://pipspring.com/category/trade-alerts/
By end of January we had received a good amount of feedback and we improved on the strategy. We also got traders requesting that we make a version that trades with offline Renko charts. We since have a standard and renko version of PipSpring+
I've always admired manual systems and was always hesitant to convert them to robots. However, we discovered that about 65% of traders prefer to trade with 100% automated systems and again we gave in to our clients demands and created robot versions of PipSpring+ Standard and Renko too. As of this writing we now have 4 in 1 system
1. PipSpring+ Standard Manual
2. PipSpring+ Renko Manual
3. PipSpring+ Standard Robot
4. PipSpring+ Renko Robot
To understand the systems better, they are based on two factors
a) Charts – One strategy that you can trade on either normal charts or renko offline charts
b) Automation – One Strategy that you can trade on a normal or renko chart either manually or with 100% automation.PipSpring+ Standard Manual
The following files are contained in this package
ð PSpring_1.ex4
ð PSpring_2.ex4
ð PSpring_3.ex4
ð PSpringPlus_Manual_EA.ex4 Installation
I) Copy the 3 indicators (PSpring_1, PSpring_2 & PSpring_3) in the MQL4, Indicators' folder.
II) Copy PSpringPlus_Manual_EA.ex4 in the MQL4 Experts' folder
Learn how to install on Metatrader build 600+ http://youtu.be/V_A6Al4BHLAHow to Trade
Open your preferred currency pair.
On the navigation tab: "under "Expert Advisors" tree: select PSpringPlus_Manual_EA then "drag n drop" it on your preferred pair as shown on the screenshot below
When the "Trade Alert" Software is properly installed it should display information as shown below:
When a trade opportunity is identified, there will be an alert with sound. You must confirm the trade MANUALLY for the order to be executed. Recommended Pairs
You can trade any pair but mostly:
XAUUSD (Gold), EURUSD, EURJPY, GBPUSD, AUDUSD, USDJPY, USDCAD, USDCHF, EURCAD Trade Settings
Use the one hour timeframe; H1. The other settings remain at default.
IMPORTANT: Before you deploy PipSpringPlus Manual to a Live Account, we highly recommend that you trade with it on a demo for at least one week. When you get hold of how it works, then you can comfortably deploy it to on a Real Money Trading Account. PipSpring+ Renko Manual
The following files make the PS+ Renko Manual:
ð PSpring_1.ex4
ð PSpring_2.ex4
ð PSpring_3.ex4
ð PSpring_RenkoChartGen_Indicator.ex4
ð PSpringPlus_Manual_EA.ex4 Installation
I) Copy the 3 indicators (PSpring_1, PSpring_2 & PSpring_3) in the MQL4, Indicators' folder.
II) Also copy PSpring_RenkoChartGen_Indicator in the MQL4, Indicators' folder.
III) Copy PSpringPlus_Manual_EA.ex4 in the MQL4 Experts' folder
è Learn how to install on Metatrader build 600+ http://youtu.be/V_A6Al4BHLAHow to Trade
Open your preferred currency pair or commodity. For Example XAUUSD on the H1 time frame
i) On the navigation tab on your left open the "Customs Indicator" tab identify
PSpring_RenkoChartGen_Indicator, then drag and drop the indicator on the chart your are working on: see the image below:
ii) Make sure the allow dll imports and external imports are TICKED iii) Before you click Ok. Click the "Inputs" Tab and the change the Renko Box Size as follows:
a. Currencies renko box size = 5 or 10
b. XAUUSD / Gold renko box size = 100 or 250 or 500
NB: the higher the number increases trade opportunity accuracy but also results to fewer trades. Use the above recommended settings
See the image below on how to edit
iv) click OK and the should be information printed on the top left of the chart as follows:
v) Follow instructions as printed on the chart: on your MetaTrader on the TOP menu: Go to FILE> Open OFFLine select >> XXXPAIR,M2 and click to view chart (XXXPAIR,M2) is a variable depending on the pair you're working on. vi) Your Offline Chart should open as follows:
vii) On the navigation tab under "Expert Advisors" tree: select PSpringPlus_Manual_EA then "drag n drop" it on the newly opened Renko OFFLINE chart as shown on the screenshot below:
viii) Confirm by Clicking "OK" – Your XAUUSD offline chart should appear as follows:
ix) Your Renko chart is now set and as soon as a trade opportunity appears you'll be notified via an alert. For each trade signal you'll be required to confirm manually before an order is opened. Recommended Pairs
You can trade any pair but mostly:
XAUUSD (Gold), EURUSD, EURJPY, GBPUSD, AUDUSD, USDJPY, USDCAD, USDCHF, EURCADTrade Settings
Use the one hour timeframe H1 to generate Renko charts.
For Gold XAUUSD – use Renko box size 100, 250 or 500
For currency pairs use Renko Box Size 5 or 10
IMPORTANT: Before you deploy PipSpringPlus Manual on Renko Charts to a Live Account, we highly recommend that you trade with it on a demo for at least Two weeks. When you get hold of how it works, then you can comfortably deploy it to on a Real Money Trading Account.
PipSpring+ Standard Robot
The following files make the PS+ Standard Robot:
ð PSpring_1.ex4
ð PSpring_2.ex4
ð PSpring_3.ex4
ð PSpringPlus_EA_Auto_Robot.ex4Installation
I) Copy the 3 indicators (PSpring_1, PSpring_2 & PSpring_3) in the MQL4, Indicators' folder.
II) Copy PSpringPlus_EA_Auto_Robot.ex4 in the MQL4 Experts' folder Learn how to install on Metatrader build 600+ http://youtu.be/V_A6Al4BHLAHow to Trade
i) Open your preferred currency pair.
ii) On the navigation tab: "under "Expert Advisors" tree: select PSpringPlus_EA_Auto_Robot then "drag n drop" it on your preferred pair as shown on the screenshot below:
iii) Click OK and the Robot will identify trading opportunities and open trades for you Automatically
Recommended Pairs
You can trade any pair but mostly:
XAUUSD (Gold), EURUSD, EURJPY, GBPUSD, AUDUSD, USDJPY, USDCAD, USDCHF, EURCAD Trade Settings
Use the one hour timeframe; H1. The other settings remain at default.
IMPORTANT: Before you deploy PipSpringPlus Auto EA (Standard Robot) to a Live Account, we highly recommend that you trade with it on a demo for at least Two weeks. When you get hold of how it works, then you can comfortably deploy it to on a Real Money Trading Account.
PipSpring+ Renko Robot
The following files make the PS+ Renko Robot:
ð PSpring_1.ex4
ð PSpring_2.ex4
ð PSpring_3.ex4
ð PSpring_RenkoChartGen_Indicator.ex4
ð PSpringPlus_EA_Auto_Robot.ex4Installation
I) Copy the 3 indicators (PSpring_1, PSpring_2 & PSpring_3) in the MQL4, Indicators' folder.
II) Also copy PSpring_RenkoChartGen_Indicator in the MQL4, Indicators' folder.
III) Copy PSpringPlus_EA_Auto_Robot.ex4 in the MQL4 Experts' folder
è Learn how to install on Metatrader build 600+ http://youtu.be/V_A6Al4BHLAHow to Trade
Open your preferred currency pair or commodity. For Example XAUUSD on the H1 time frame
i) On the navigation tab on your left open the "Customs Indicator" tab identify
PSpring_RenkoChartGen_Indicator, then drag and drop the indicator on the chart your are working on: see the image below:
ii) Make sure to allow dll imports and external imports are TICKED iii) Before you click Ok. Click the "Inputs" Tab and the change the Renko Box Size as follows:
a. Currencies renko box size = 5 or 10
b. XAUUSD / Gold renko box size = 100 or 250 or 500
NB: the higher the number increases trade opportunity accuracy but also results to fewer trades. Use the above recommended settings
See the image below on how to edit
iv) click OK and there should be information printed on the top left of the chart as follows:
v) Follow instructions as printed on the chart: on your MetaTrader on the TOP menu: Go to FILE> Open OFFLine select >> XXXPAIR,M2 and click to view chart (XXXPAIR,M2) is a variable depending on the pair you're working on. vi) Your Offline Chart should open as follows:
vii) On the navigation tab under "Expert Advisors" tree: select PSpringPlus_EA_Auto_Robot.ex4 then "drag n drop" it on the newly opened Renko OFFLINE chart as shown on the screenshot below:
viii) Click OK, no need to edit any settings. If you need to change any settings then make sure you test it on demo first. Your Renko offline chart should now appear as follows:
ix) The EA/ robot will now identify trade opportunities for you and open and close trades for you automatically.Recommended Pairs
You can trade any pair but mostly:
XAUUSD (Gold), EURUSD, EURJPY, GBPUSD, AUDUSD, USDJPY, USDCAD, USDCHF, EURCADTrade SettingsUse the one hour timeframe H1 to generate Renko charts.
For Gold XAUUSD – use Renko box size 100, 250 or 500
For currency pairs use Renko Box Size 5 or 10
IMPORTANT: Before you deploy PipSpringPlus Auto EA (Robot) to a Live Account, we highly recommend that you trade with it on a demo for at least Two weeks. When you get hold of how it works, then you can comfortably deploy it to on a Real Money Trading Account.
Strategy
PipSpring is built on a Trend Strategy we therefore recommend that you trade during London and New York sessions. As such we have put a time filter to block the Asian Session from taking any trades. If you feel you want to trade during the Tokyo Session you can always feel free to edit the settings, see screenshot below:
You can always access the settings of the EA or Indicator when viewing a chart by pressing F7 on the keyboard.
When you set:
– UseTimer = true. Then the EA will not take any trades during the Asian Session.
– UserTimer = false. Then the EA will take trades in all the THREE trading sessions in a day.
– Timer = 07.00-1700 shows the Asian session according to GMT. Please do not adjust these values as the filter will adjust automatically according to broker price feeds.
Exit Rules
I) Take Profit – the take profit is set by Average True Range Indicator with a Trailing function
II) Reverse Signal – The exit will occur when there is a reverse signal generated
III) 24hr rule – If trade can't hit TakeProfit within 24 hours, it will close order if the balance will be positive, If not it will wait for a reverse signal
IV)StopLoss – As a last option to bail you out in case the trade does not close in profit on either of the three rules above. Then a Stop Loss will be activated to close the trade and cut off the losses.
NB: Our Exit rules outsmart any rogue broker and it's impossible for a broker to stophunt you by means of spying on your stoploss areas. Risk and Money Management
A good Risk management (RM) and Money Management (MM) can make an average system to perform extremely well for long.
We have set Risk at 2%. This means each trade will be a maximum of 2% of the account balance. If you have a $ 1,000 account then 2% of 1000$ means 20$ is the amount to be risked per trade. If your SL is: 20 pips, your lot size must be 0.1 Lot if SL=40, 0.05 lot
We find Stop Loss (SL) according Average True Range (ATR) indicator.
We have combined these rules to a simple algorithm that will automatically calculate the Risk, Lot Size and Stop Loss for every trade that is opened. If you run default setting then the Risk and Money Management rules are taken care of automatically.
Support
You can reach us as follows:
Email: alerts@pipspring.com
Skype: mike.ndegwa : rezame
Forum: http://forum.arithmetictrading.com(announcements, community support and settings ideas) Personalized support
TeamViewer – If you need us to login to your Computer and help with installation and settings you can book a session by reaching us on skype.
Virtual Private Server (VPS) – If you want us to help you with installation on your VPS.. send us login details and how you'd like us to help you out.
Personalized support is limited to one session per customer if the need arises, any other sessions after that will be billed.
NB: We are committed to help you succeed as a trader; feel free to reach us with ideas or any help you may need.
To your success,
Mike Ndegwa & Reza MehrabaniPipspringDownload.zip
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