PLEASE READ ALL BEFORE USING THE EGCX VICI PRO
THIS IS NOT TRADING ADVICE AND YOU SHOULD USE A DEMO ACCOUNT UNTIL YOU ARE HAPPY TO GO LIVE. THE PAIRS AND LOT SIZES ARE RECOMMENDATIONS MENTIONED ON HERE ARE OF OUR OPINIONS AND ARE NOT TRADING ADVICE. PAST RESULTS CANT GUARANTEE OR PREDICT FUTURE RESULTS.
ALWAYS DEMO FIRST!
ONLY FOUR ACCOUNTS CAN BE RAN PER PURCHASE IT IS CODED TO ONLY RUN ON FOUR ACCOUNTS.
This VICI uses 3 indicators to find entries on the pairs opened. RSI-Stochastic-Bollinger Bands So basically its a scalper when price has sudden spikes in the oversold and overbought conditions. We recommend M5 TimeFrame.If you use these indicators already then adjust them with the settings you already use if you think you will yield better results, that’s up to you. The VICI PRO now has added algorithms for trend trading
FULL RESPONSIBILITY IS ON YOU FOR THE PAIRS AND SETTINGS YOU USE. DRAWDOWN IS PART OF TRADING. IF YOU DON'T WANT TO SEE DRAWDOWN THEN PLEASE DO NOT TRADE!
A full guide to running the vici pro will be released to our private communities in the next few weeks. This will help you understand how the software can be ran and give some tips for starting out.
These settings and instructions are mostly a general baseline of what you can do with the software. We believe we have now incorporated some great settings to protect our accounts and to hopefully make money a lot more safely.
The entry requirements for the EA is the same with the RSI - Stochastic-bollinger bands on the 5M timeframe. But we have also added the trend identifier in the (EMA) Exponentional moving average confirmation from the higher Timeframes. Thus helping us find better trades that align with the overall trend on the pair we are trading. You will also find we ar eback testing a lot and will be shown in the discord channel.
Risk settings currently we suggest a range of 0.01 per £1000 but of course we will have the slower/ safer settings coming soon. The settings that come with the software should not be looked at as standard, but they are suitable to run and demo. Settings for pairs that have been back tested will slowly be added to the discord channel.
As backtests have shown it is still possible to incur some DD, as you may trade when the trend is changing. (if we knew when this would happen all the time then we would all be multi-millionaires) So its possible you could buy at the top of the trend or sell at the bottom (sometimes). Obviously timing will come into play whether your out for the day with your daily % target, or already in another pair. But overall it bring's the probability of a successful trade up.
You can load the EA straight onto your existing account and it will pick up existing trades as it normally does. Obviously if you want to experiment then demo is your friend whilst trialing different settings.
The possibility of opening more pairs live than inputted in settings if criteria is met is still possible. We did have a timer in the EA trials but MT4 contains bugs regarding this scenario. As the EA runs off tick data, it requires a live feed to make the EA run, the timer didnt quite work correctly, so with this being said you can just set the EA to trade one pair live, (as backtests show it makes enough with one pair only) then if more do open then it might go to 2/3 pairs which is normal anyway. Then you can decide to close if you so wish.
The Vici Pro, we truly believe will allow you to develop your own strategy with it. As well as using or sharing with others in the community.
We know there are a lot more settings involved now, but if you take your time reading and watching you will soon be able to understand.
We want to trade with the trend YES. But also we must try and be aware of when trend changes too so we can trade with the opposite direction. With this being said thats why we have gone with the 53EMA on the 4H chart as a mid term trend identifier. We have always used in manual trading the 17 / 53 / 100 EMa's. The 17 tracked tight to price which identified the short term movements, the 17 crossed the 53 for a medium term trend change. The 100 served as a longer standing trend identifier. So we have gone with the 53 to try and catch the smaller trend changes. This might prove to not be as successful over time and we may want to use the higher ones 100/200. But testing and user data to follow will prove this or not. Also simply changing from the 4H EMA chart up to daily can significantly change the results. This is very much a pro software and can be very powerful.
So on to the inputs, you of course like always have full control over these:
- Use Daily Target: Set this to true if you want the EA to stop opening new positions once the value is reached. However if there are open positions on this current chart whilst another chart closes positions and so reaches the daily target then the EA will still manage the positions until they are all closed. This may include opening more positions if the price goes against you.
- Daily Target In Percentage: As stated, set this if you have daily target set to true.
- Percentage of account to be protected: Set the number of account % wise you want to save. So if you dont want to go over 10% DD. Then set the figure to save 90. ALL CHARTS MUST HAVE THE SAME CUT OFF TO CLOSE ALL CHARTS COMPLETELY. That way there is a guarantee no other trade will open.
- Maximum Number of Pairs At A Time: Set the amount of pairs the EA trades live at once. Although it is possible for the EA to open more than you set if criteria meets at the same time, so be aware if you get more than set and close any that go over.
- Do You Want To Trade Days: If set to false then the EA will shut off at midnight on Thursday (server time). If there are current open positions on the chart when this happens then the EA will still manage the positions until they are all closed. This may include opening more positions if the price goes against you.
- Magic Number: This allows the EA to identify the trades it manages. Leave as 1 or a number that you would prefer.
- Starting Lot Size: The lots size of the first position the EA will open on the current chart.
- Number Of Pips To Next Trade: After the first trade has opened, if the price goes against you then it will be this number of pips before another trade opens on the same chart.
- Maximum Number Of Trades At One Time: If the EA opens a position and the price goes against you, this is the maximum number of positions on the current chart that the EA will open. You must multiply this by the value set in ‘maximum number of pairs at a time’ for the maximum number of positions that could open on your account. Use correct risk management.
- Use Increments & Use Lot Multiplier: If ‘Use Increments’ is set to true then ‘Use Lot Multiplier’ must be set to false and vice-versa. You can only use one of these functions at a time.
- Increment Size: The value that gets added onto the next opening position lot size.
- Multiplier Size: The lot size of the next opening position will be multiplied by this amount.
- Amount Of Pips From Breakeven Level To Take Profit: Once all trades on the current chart have passed the breakeven point (zero profit/loss) then this value is the number of pips of profit until the EA closes all open trades. This value gets multiplied by the number of lots sizes on the current chart (then subtracts swaps and commission) so every new order opened means more profit required before all positions close.
- Trailing Stop in Pips: If you want to use a trailing stop loss then input the number here in pips you want it to trail behind price. It will activate at the level from the input of amount of pips from break even to profit. If you dont want a trailing stop loss then set this value to Zero. TRAILING STOP LOSS WILL NOT WORK WHEN HAMILTON IS CLOSING TRADES.
- Amount of pips for hamilton close: The amount of pips required for the top and bottom position to close together, the smaller amount the quicker it closes
- Use hamilton from number of positions: The amount of open positions where hamilton style closing will activate from
- The bollinger bands and stochastic and RSI inputs havent changed and you can leave them as default. Unless when using our set settings
- EMA Period: This is the length in value that the EA will look up to for identifying trends. We wouldn't suggest going below 50, we may even use 100/200 going forward after extensive backtests.
- EMA TF in Minutes: This is the timeframe that the EA will take for identifying the trend, the value is in minutes i.e 4H =240, 1D =1440
- Other settings you can leave as standard = slippage and spread
- Margin Percent: This is the value in % that the EA will not take any more trades if the account falls below.
There will be a lot of data regarding best settings for pairs that will come out. If you see backtests that we have released you can assess and adjust accordingly. These will all be on discord, please feel free to add your own findings. After all we want to build an elite community!
Hamilton turned on as well as a good trend EMA identifier will help reduce DD. If anyone wishes to backtest and share the results it would be appreciated. But please make sure its done on historical tick data and not just the normal candlestick data from any broker as its not as accurate.
But for now we are not afraid of any pair with the trend identifier now in use. And we are working incredibly hard to bring as many settings and results as we can so join the community and stay tuned!
Like always we hold no responsibility for any losses using our software or any inputs. Back testing and demoing can't guarantee future results.