Welcome to the One-on-One Forex DreamMachine EA Mentorship and Coaching service
We are going to make a very quick start by starting to trade as quickly as possible. Just follow the steps below to get the ball rolling.
Although this is a one-on-one Mentorship and Coaching service, as you will see, I am providing the guidance via these webpages. If things go really well there may in fact be very little personal contact as you will have learnt the process using the written guidance provided. I will however always be there to assist and coach you if your particular personal EA trading needs are not met through the information and instructions provided and when things go very well or very badly beyond the expectations set for the DreamMachine EA trading.
I have created a Forum where you can raise any questions you may have and I will respond to them as quickly as possible. Please use this link to access the Forum (please use a separate topic in the relevant forum for your unique questions).
This free service is limited to the goal of coaching and mentoring you to trade the DreamMachine EA is an efficient and risk controlled way only. Unfortunately, to keep this a free service, all other an general Forex matters pertaining to Forex trading in general are not included in this service. This service also goes not guarantee successful Forex trading results in the short term and the long term. The aim is to coach you to get the most out of your EA in the long run by applying EA management processes like setting reviews and managed risk control in changing market conditions.
Please use the menu above which is specific to the Mentorship service.
SO LET'S GET GOING
- Start your demo trading immediately and trade for 2 weeks. You can trade either or both the 4 hour and 1 hour settings. Use seperate account if you are going to trade both.
- In the meantime watch the DreamMachine videos in the playlist, and do general research on problem solving and lots sizing and think about what expectation you have. (Use the contact me in the above menu if you have questions)
- After 2 weeks contact me with your trading results and we can start the mentorship. (Use the contact me in the above menu)
Start by loading these settings into your DreamMachine EA input
We have made the settings easy for the Dream Machine by loading hard-coded settings. Have a look at the picture on the right. Make sure your settings are exactly as shown. Don't worry about the other settings for now.
VIEW AN ACCOUNT USING THESE SETTINGS
These setting are currently being traded very successfully on my live account. Click here to see the live account - 4 HOUR DREAM MACHINE
CHANGES TO THE SETTINGS
During the mentorship and coaching in the next few weeks we will be adjusting the settings to either increase or decrease risk or possible income.
LOT SIZING ADJUSTMENT
The only change required to these setting is the lot sizing to bring the settings in line with your account size. See the setting with the red border. So,
- if your account is between $ 1 000 and $ 2 500 use 0.01
- if your account is between $ 2 501 and $ 4 000 use 0.02
- if your account is between $ 4 001 and $ 5 500 use 0.03
- if your account is between $ 5 501 and $ 7 000 use 0.04
- if your account is between $ 7 001 and $ 8 500 use 0.05
- if your account is between $ 8 501 and $ 10 000 use 0.06
- if your account is between $ 10 001 and $ 11 500 use 0.07 and so on.....
This will keep your risk per trade to +/- 1% of your account balance using a 160 pip stop
IMPORTANT: After setting up for your 2 weeks trading please send me a legible picture of your setup ( alex (att) expert4x .com ) as shown below so that I can check if everything is OK
Your expectations from Forex EA trading
Please view this video which outlines the importance of having an EA trading plan with realistic expectations to manage risk.
Please note the light green area which is the good area where no mentorship or coaching is required as everything is going according to plan
Good traders know how to solve their own problems and find the information needed to succeed. Please watch these video for ideas. Always use your own common sense and creativity to find answers to your questions and information. Your mentor or coach is the last resort of information.
Account sizing and risk management is very simple. If you have a stop of 160 pips and you are trading 0.01 lots (generally 10c per pip) then the most you can lose is $16 (160 x 10c) per transaction. If you are risking 1% of your account per trade (recommended when starting to trade an EA) then you need an account of $1600 to start with. Risking 1% also gives a good margin for error so you can get +/- 90 trades wrong before your account is depleted. Risking 1% also reduces the complication of low leverage considerably
Account Sizing & Risk Management