Question 1

Input Settings Guide

Accepted Answer

Introduction

This guide will serve as the complete settings guide for setting up Forex Recovery Bot.

The bot features many different settings to accommodate for a wide range of recovery situations. We encourage clients to 1) read this guide entirely 2) test settings on a demo account before using it in a live situation.

Attaching The Bot To A Chart:

The trader should open a new M15 timeframe chart, attach the bot, and enter the input settings.

The chart symbol does not matter
The bot should only be attached to one chart. The bot can recover different symbols from one chart.

Step 1) Recovery Mode Activation Settings:

These settings determine when the bot enters recovery mode, and begins recovering losing trades.

Start Immediately - The bot will enter recovery mode immediately after activation. **Start on DD - ** The bot will enter recovery mode based on the overall drawdown on the account. **Start on Floating Loss - ** The bot will enter recovery mode based on the a specific floating loss on the overall account. Drawdown % for DD start OR floating loss start - If start on DD or floating loss is selected, this setting is used to determine the threshold to start the bot.

Example 1; Start on DD is selected. Drawdown % for DD start is set to 10.0. This means that when the overall account drawdown reaches 10%, the bot will enter recovery mode.

Example 2; Start on floating loss is selected. Drawdown % for DD start OR floating loss start is set to 200.0

Question 2

Pre-Defined Settings Overview

Accepted Answer

Forex Recovery Bot has several different recovery settings built in. This allows traders to quickly select recovery settings and get started.

The details of each pre-defined setting can be found below:

Low Risk - Grid

Grid Step = 250 Grid Step Multiplier = 1.1 One Trade Per Candle = true Trend Filter = true Starting Lot Size Multiplier = 1.4

Medium Risk - Grid

Grid Step = 200 Grid Step Multiplier = 1.1 One Trade Per Candle = false Trend Filter = false Starting Lot Size Multiplier = 1.55

High Risk - Grid

Grid Step = 150 Grid Step Multiplier = 1.0 One Trade Per Candle = false Trend Filter = false Starting Lot Size Multiplier = 1.65

XAU / Gold Medium Risk - Grid

Grid Step = 200 Grid Step Multiplier = 1.15 One Trade Per Candle = true Trend Filter = true Starting Lot Size Multiplier = 1.5

XAU / Gold High Risk - Grid

Grid Step = 200 Grid Step Multiplier = 1.15 One Trade Per Candle = false Trend Filter = false Starting Lot Size Multiplier = 1.5

Zone - Medium Risk

Zone Points = 150

Trades who do not wish to use the predefined settings may use their own settings by selecting "manual settings" from the dropdown menu.

Question 3

Recovery Order Starting Lot Size Guide

Accepted Answer

Forex Recovery Bot utilizes a grid style trading system to recover losing order. You may consider the chart below to find the best starting lot size for you. In our experience it is usually best to start with the minimum starting lot for the least risk. You may change the starting lot at anytime during the recovery if needed.

| Account EQUITY* | MIN Starting Lot | MAX Starting Lot | | --- | --- | --- | | $0 - $1,000 | 0.01 | 0.01 | | $1,000 - $2,000 | 0.01 | 0.02 | | $2,000 - $3,000 | 0.01 | 0.03 | | $3,000 - $4,000 | 0.01 | 0.04 | | $4,000 - $5,000 | 0.01 | 0.05 | | $10,000 - $20,000 | 0.10 | 0.20 | | $100,000 - $200,000 | 1.00 | 2.00 |

It is assumed that your trading account has 1:500 leverage. If your account has lower leverage, then it is suggested to use the minimum starting lot.

How to find your account equity:

Your account equity can be found inside of your MetaTrader 4 or 5 platform. At the bottom of the terminal you will find your account information such as balance, equity, margin, etc.

Question 4

Positive Grid Feature Overview & Settings

Accepted Answer

Positive Grid Feature Description

Forex Recover Bot includes a feature called "Positive Grid", which can help speed up the recovery process.

Traditionally, when the bot is managing a recovery grid it will only add new orders to the grid if price moves in the opposite direction. For example, if the bot is managing a recovery sell grid, the bot will only add orders if price moves in the opposite direction (ie; if price goes up and against our sell grid trades).

However, with positive grid enabled it will allow the bot to add orders to the grid no matter which way price moves. For example, if the bot opens a sell grid and price continues to fall (price moves in our direction), the bot will open new sell trades in an attempt to reach our grid take profit faster and recovery the trade.

Positive Grid Pros:

We have found that this feature has the ability to speed up recovery time significantly

Positive Grid Cons:

Overall the bot will open more orders - ensure that your account has enough margin to manage orders

Positive Grid Settings Explained

| Setting Name | Setting Description | | --- | --- | --- | | Enable Positive Grid | Enable / Disable the positive grid feature | | Positive Grid step | The number of pips that price must move in our direction before the bot will add a positive grid order. Example: if set to 100, each time price moves 10 pips / 100 points in our direction, the bot will open a new positive grid trade. | | Posit

Question 5

How Forex Recovery Bot Works

Accepted Answer

Forex Recovery Bot is an advanced MetaTrader 4 / MetaTrader 5 expert advisor, which was built with the purpose of recovering losing trades and account drawdown. The bot operates in three steps, which are described in detail below:

Step 1. Losing Order Hedge

Once the bot is activated the first operation it performs is to hedge the total volume of losing order. This step “locks” the original downdraw in place, and makes it so that the downdraw of the original losing order(s) cannot grow larger.

In the example image above, you can see that the losing order is a 0.05 buy order on EUR/USD. When Forex Recovery Bot is started the first operation that the bot performs is to open a 0.05 sell order on EUR/USD. This hedging order prevents our original 0.05 losing trade from growing in drawdown.

Step 2. Recovery Orders

The next operation of the bot will be to open recovery orders. The profit from the recovery orders will be used to close part of the original losing trade.

The bot offers two different recovery order algorithms:

Grid – The bot will use a grid system to build orders. This is best for ranging or lower volatility markets.
Zone – The bot will use a system of stop orders to build orders. This is best for strong trending markets. A video guide explaining the zone recovery order system can be viewed here – https://youtu.be/Srt6B_pAIe4

**Step 3: Order Re

Question 6

Recovery Time Overview

Accepted Answer

The amount of time that it takes Forex Recovery Bot to recover your order(s) will vary on several different factors, such as;

Market condition (price movement, volatility, news events, etc)
Your recovery settings (low, medium, high risk)
The number of lots and drawdown that needs to be recovered

Generally, lower risk settings will result in longer recovery time because the bot is set to use a more conservative approach. Our low risk settings will have the bot only trade the current price trend. There will usually only be one buy grid or one sell grid open. The bot will rarely have a grid open in both directions. This approach will result in longer recovery time, however there is less risk for added drawdown created by the bot as it aims to follow the overall price trend.

Using a medium-high risk setting will usually result in faster recovery time, but at the risk of the bot adding more drawdown. Medium/high risk settings will allow the bot to create both buy and sell grids at the same time. This will allow the bot take recovery trades no matter which direction price moves. However, it is important to note that this also exposes us to price at both directions. If price moves sharply in one direction this may result in increased drawdown to the account.

We have seen traders take a “hybrid” approach; first they will start with low risk settings and allow the bot some time to bring down drawdown to a more manageable level. Once the bot recovered some orders they will

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