Friday, March 13, 2015
We have updated the FAQ section and users can now find information easily.
If you haven't come back for a while, you will be surprised to see that our FAQ section was heavily updated. It is now separated into just 2 posts - the Presales Section and the Application Section. The questions are carefully reorganized and updated so users can find information more easily.
Thursday, March 12, 2015
FAQ - Presales Section
Last Updated: 2015.4.21 - Unless we state otherwise, all the FAQ below refer to the most current version of SteadyWinner
Q: Which pairs does SteadyWinner trade? (Updated)
A: SteadyWinner was designed and fine tuned for EURUSD so it naturally works best on this pair.
We also see positive results on GBPUSD an GBPJPY in our 5-year tick data backtest but the Profit Factors were just around 1.2, well below our passing mark (1.5). That means running SteadyWinner on such pairs could profit but very risky.
If you want to use SteadyWinner on other pairs, we STRONGLY advise you to run a demo for at least 2-3 months before committing money for that.
Q: How much starting capital is needed for running SteadyWinner? (Updated)
A: Assume:
1. You have a standard micro account
(minimum lot size=0.01 and 1 Lot=100,000 currency units)
2. You use the default 2% risk setting
3. You did not modify the EA code
then the minimum starting capital is US$500. That only indicate a "just enough" amount for SteadyWinner to place ONE order using the Trade Lot Size calculated from your risk setting. We strongly advise you put in more capital (15%-20%) so your account can survive more critical market conditions.
Q: Which pairs does SteadyWinner trade? (Updated)
A: SteadyWinner was designed and fine tuned for EURUSD so it naturally works best on this pair.
We also see positive results on GBPUSD an GBPJPY in our 5-year tick data backtest but the Profit Factors were just around 1.2, well below our passing mark (1.5). That means running SteadyWinner on such pairs could profit but very risky.
If you want to use SteadyWinner on other pairs, we STRONGLY advise you to run a demo for at least 2-3 months before committing money for that.
Q: How much starting capital is needed for running SteadyWinner? (Updated)
A: Assume:
1. You have a standard micro account
(minimum lot size=0.01 and 1 Lot=100,000 currency units)
2. You use the default 2% risk setting
3. You did not modify the EA code
then the minimum starting capital is US$500. That only indicate a "just enough" amount for SteadyWinner to place ONE order using the Trade Lot Size calculated from your risk setting. We strongly advise you put in more capital (15%-20%) so your account can survive more critical market conditions.
(For more details, please download the demo version and read the user manual - SteadyWinner Full Version and Small Account Version share the same user manual)
Q: What are the broker requirements for running SteadyWinner?
A: Basically, no special requirement. SteadyWinner can work on most broker's trading terms / conditions. The money management can
* Auto adjust to 4/5 digit pricing
* Work with symbol prefix and suffix (such as EURUSDFXF)
* Uses 2-step order open process compatible with ECN brokers
* Include commissions in profit calculations for order closing decisions
* Open 1 order a time, no hedging used, works well with NFA brokers
* Auto adjust to different minimum lot and lot step such as:
- starting min. lot 0.1 and lot step increment of 0.01
- starting min. lot 0.05 and lot step increment of 0.05
* Auto adjust to different lot size setting like those Nano Accounts
(1 Lot=10,000 Currency Unit instead of 100,000)
* Auto adjust to account opened in currency other than US$
works on GBP, EUR, CHF, AUD and JPY accounts
Note: In Jan 2015, the sudden removal of the exchange rate cap on Swiss Franc against Euro by Swiss National Bank had resulted in violent market movement. Brokers unprepared for such risk suffered heavy losses. Some of them just could not recover and went bankrupt. We advise customers use only regulated brokers in countries with matured legal and regulatory systems. In case a regulated broker went bankrupt, the regulators would take over and you would be more likely able to claim (part of) your money back.
Q: What is SteadyWinner Small Account Version?
A: SteadyWinner Small Account Version is indeed the free demo version for customer testing before buying full version. Here are its features:
- It uses the same Full Version trading logic,
the 2 versions open and close orders together
- It can be used on demo and real accounts
- It has no limitation on number of computers and accounts
- It never expires
Q: What are the differences between Small Account Version and Full Version?
A: SteadyWinner small account version use only double (2X) of your account's minimum lot as Trade Lot Size while SteadyWinner full version use 2% (adjustable) of your account equity and the stop loss size to calculate the Trade Lot Size and it grows as your equity grows. Both versions use your account's minimum lot as Test Lot Size (this is again adjustable on full version).
(For an explanation of Trade Lot Size and Test Lot Size, please refer to Q1 in FAQ - Application Section)
A: Basically, no special requirement. SteadyWinner can work on most broker's trading terms / conditions. The money management can
* Auto adjust to 4/5 digit pricing
* Work with symbol prefix and suffix (such as EURUSDFXF)
* Uses 2-step order open process compatible with ECN brokers
* Include commissions in profit calculations for order closing decisions
* Open 1 order a time, no hedging used, works well with NFA brokers
* Auto adjust to different minimum lot and lot step such as:
- starting min. lot 0.1 and lot step increment of 0.01
- starting min. lot 0.05 and lot step increment of 0.05
* Auto adjust to different lot size setting like those Nano Accounts
(1 Lot=10,000 Currency Unit instead of 100,000)
* Auto adjust to account opened in currency other than US$
works on GBP, EUR, CHF, AUD and JPY accounts
Note: In Jan 2015, the sudden removal of the exchange rate cap on Swiss Franc against Euro by Swiss National Bank had resulted in violent market movement. Brokers unprepared for such risk suffered heavy losses. Some of them just could not recover and went bankrupt. We advise customers use only regulated brokers in countries with matured legal and regulatory systems. In case a regulated broker went bankrupt, the regulators would take over and you would be more likely able to claim (part of) your money back.
Q: What is SteadyWinner Small Account Version?
A: SteadyWinner Small Account Version is indeed the free demo version for customer testing before buying full version. Here are its features:
- It uses the same Full Version trading logic,
the 2 versions open and close orders together
- It can be used on demo and real accounts
- It has no limitation on number of computers and accounts
- It never expires
Q: What are the differences between Small Account Version and Full Version?
A: SteadyWinner small account version use only double (2X) of your account's minimum lot as Trade Lot Size while SteadyWinner full version use 2% (adjustable) of your account equity and the stop loss size to calculate the Trade Lot Size and it grows as your equity grows. Both versions use your account's minimum lot as Test Lot Size (this is again adjustable on full version).
(For an explanation of Trade Lot Size and Test Lot Size, please refer to Q1 in FAQ - Application Section)
Q: Where can I get SteadyWinner Small Account Version?
A: Please visit http://www.steadywinner.com and click the Download Demo Version link on the navigation bar. Then follow the instruction on screen.
Q: Can I just use SteadyWinner Small Account Version without buying full version?
A: Yes you can. Indeed, if your account balance is below US$750, you should continue to use SteadyWinner Small Version as the lot scaling function of the Full Version does not work on small size account. When you are happy with the small version and gained some money, please support us by buying the full version.
Q: Can I get free upgrade after I buy SteadyWinner Full Version?
A: Sure, all paid customers of SteadyWinner are entitled to free upgrades for its newer versions. However, may I remind you, SteadyWinner is now in its sixth generation and there won't be too many things left for updating. Anyway, we promise we shall provide discounts for all customers who bought our old products should we later introduce new product lines.
Q: Can I get refund if after I buy SteadyWinner Full Version, I don't like it?
A: Yes, we never turn down customer's request refunding and you have up a 60-day refund window. However, we hope you can test the EA for at least for 3-5 weeks instead of applying refund soon after buying and downloading, that would be fair for both parties. You might also find it easier to download the free SteadyWinner Small Account Version, test as long as you like and make sure you love its trading style before consider buying the Full Version?
Q: I heard I can get MQ4 source code if I buy SteadyWinner Full Version, is it real? (Updated)
A: First, the EA will run with or without its source code. The source code is only useful if you know how to program EA so you can view (and maybe change) the trading logic. We believe it is not a good idea buying an EA just for its source code. Also, selling an EA with its source code is uncommon in the industry and we don't want pressure from our peers.
We are still providing source code currently but, as we have noticed some suspicious quick refund requests recently, we are thinking of stopping inclusion of source code (this question will disappear when we do so).
A: Please visit http://www.steadywinner.com and click the Download Demo Version link on the navigation bar. Then follow the instruction on screen.
Q: Can I just use SteadyWinner Small Account Version without buying full version?
A: Yes you can. Indeed, if your account balance is below US$750, you should continue to use SteadyWinner Small Version as the lot scaling function of the Full Version does not work on small size account. When you are happy with the small version and gained some money, please support us by buying the full version.
Q: Can I get free upgrade after I buy SteadyWinner Full Version?
A: Sure, all paid customers of SteadyWinner are entitled to free upgrades for its newer versions. However, may I remind you, SteadyWinner is now in its sixth generation and there won't be too many things left for updating. Anyway, we promise we shall provide discounts for all customers who bought our old products should we later introduce new product lines.
Q: Can I get refund if after I buy SteadyWinner Full Version, I don't like it?
A: Yes, we never turn down customer's request refunding and you have up a 60-day refund window. However, we hope you can test the EA for at least for 3-5 weeks instead of applying refund soon after buying and downloading, that would be fair for both parties. You might also find it easier to download the free SteadyWinner Small Account Version, test as long as you like and make sure you love its trading style before consider buying the Full Version?
Q: I heard I can get MQ4 source code if I buy SteadyWinner Full Version, is it real? (Updated)
A: First, the EA will run with or without its source code. The source code is only useful if you know how to program EA so you can view (and maybe change) the trading logic. We believe it is not a good idea buying an EA just for its source code. Also, selling an EA with its source code is uncommon in the industry and we don't want pressure from our peers.
We are still providing source code currently but, as we have noticed some suspicious quick refund requests recently, we are thinking of stopping inclusion of source code (this question will disappear when we do so).
Tuesday, March 10, 2015
FAQ: Application Section
Last Updated: 2015.3.10 - Unless we state otherwise, all the FAQ below refer to the most current version of SteadyWinner
Q: Why are there orders open in much smaller lot size?
A: SteadyWinner use 2 type of lot sizes, the Trade Lot Size and Test Lot Size.
The Trade Lot Size is calculated from 2% of capital and the stop loss size and SteadyWinner uses it when its previous trade was a winning trade.
The Test Lot Size is the minimum allowed order lot size of your broker account and SteadyWinner uses it when
1. It is making its very first trade in your account
2, Its previous trade was a losing trade
3. It is trading on Friday late afternoon (inactive trading period)
4. It is trading after 15th December (inactive trading period)
Q: Can I customize the lot sizes of SteadyWinner's orders.
A: Yes, this feature is provided for EA testers and customers who manage multiple accounts and need a set of easily scalable lot sizes.
Use the TradeLotFixed parameter to set a valid fixed lot size instead of using the lot size calculated from the risk%.
Set the TestLotScale parameter to a valid value and SteadyWinner will multiply the Trade Lot Size with it and use the result as Test Lot Size. For example:
- Input 0.2 and Test Lot Size = one firth of Trade Lot Size
- Input 0.5 and Test Lot Size = half of Trade Lot Size
- Input 0 (or unchanged), Test Lot Size = Minimum allowed order lot size
For normal traders, we do not recommend fixed lot trading. SteadyWinner is designed to risk just 2% of your free margin and it uses your that balance and stop loss pip size to calculate the correct trade size. However, if your capital size is so large that the difference between Trade Lot Size and Test Lot Size become too extreme, you can input 0.5 in TestLotScale parameter so you can get similar result as the Small Version.
Q: SteadyWinner did not open orders after I install it, why?
A: SteadyWinner needs 100 H1 bars to start calculating indicator values so if you install it on a brand new MT4 account, the first 4 days will be used to collect data. This means most customers will see no trade during the first week of installation. It will then start trading when market condition fit.
Q: SteadyWinner's number of orders are very low, why?
A: SteadyWinner is designed for steady trading profit, not high trading frequency. Sometimes, it open several orders a day but sometimes, only one order in 2 weeks. You are likely to see some orders in a week.
Q: Can I turn off my PC running SteadyWinner. Will it use past data to trade when I restart the PC?
If you turn off your PC, SteadyWinner (and indeed all EA) cannot trade. When you turn on your PC again, MetaTrader 4 will try to fill the data gap since you turn off your PC (if your down time is short enough, say within 1 week). However, SteadyWinner will only use current tick data to make trading decision.
If you cannot leave your PC on or it is shared by other family members in your house, you should rent a Virtual Private Server (VPS) and run SteadyWinner there. Since most home networks are slow, running SteadyWinner on a VPS will (usually) result in quicker respond time and better execution prices for your orders.
Q: SteadyWinner did not open orders when backtesting, why?
A: Although we asked you to put SteadyWinner on EURUSD H1 chart, it will read data for M1, M5, M15, M30 and H1 bars and use them to calculate indicator values. So you can in fact put it on chart for any periodicity and it still trade the same way. To backtest it, you need to download data for all 5 periods. On trading days, new data keep coming in, you won't be able to align all 5 periods' data properly.
We suggest you download all 5 period's data during weekends, then backtest SteadyWinner on an M1 chart. Remember periodicity doesn't matter with this EA, why not chose the most precise period (unless you also use tick data)?
Also most brokers' spreads on weekends are exceptionally high, please input 2.0 in the spread field. Using such value should make the result less appealing. However, we all know there would be delays, slippages and other execution problems during real trading, why not put some stress on the backtest and make the result looks more realistic?
A: SteadyWinner use 2 type of lot sizes, the Trade Lot Size and Test Lot Size.
The Trade Lot Size is calculated from 2% of capital and the stop loss size and SteadyWinner uses it when its previous trade was a winning trade.
The Test Lot Size is the minimum allowed order lot size of your broker account and SteadyWinner uses it when
1. It is making its very first trade in your account
2, Its previous trade was a losing trade
3. It is trading on Friday late afternoon (inactive trading period)
4. It is trading after 15th December (inactive trading period)
Q: Can I customize the lot sizes of SteadyWinner's orders.
A: Yes, this feature is provided for EA testers and customers who manage multiple accounts and need a set of easily scalable lot sizes.
Use the TradeLotFixed parameter to set a valid fixed lot size instead of using the lot size calculated from the risk%.
Set the TestLotScale parameter to a valid value and SteadyWinner will multiply the Trade Lot Size with it and use the result as Test Lot Size. For example:
- Input 0.2 and Test Lot Size = one firth of Trade Lot Size
- Input 0.5 and Test Lot Size = half of Trade Lot Size
- Input 0 (or unchanged), Test Lot Size = Minimum allowed order lot size
For normal traders, we do not recommend fixed lot trading. SteadyWinner is designed to risk just 2% of your free margin and it uses your that balance and stop loss pip size to calculate the correct trade size. However, if your capital size is so large that the difference between Trade Lot Size and Test Lot Size become too extreme, you can input 0.5 in TestLotScale parameter so you can get similar result as the Small Version.
Q: SteadyWinner did not open orders after I install it, why?
A: SteadyWinner needs 100 H1 bars to start calculating indicator values so if you install it on a brand new MT4 account, the first 4 days will be used to collect data. This means most customers will see no trade during the first week of installation. It will then start trading when market condition fit.
Q: SteadyWinner's number of orders are very low, why?
A: SteadyWinner is designed for steady trading profit, not high trading frequency. Sometimes, it open several orders a day but sometimes, only one order in 2 weeks. You are likely to see some orders in a week.
Q: Can I turn off my PC running SteadyWinner. Will it use past data to trade when I restart the PC?
If you turn off your PC, SteadyWinner (and indeed all EA) cannot trade. When you turn on your PC again, MetaTrader 4 will try to fill the data gap since you turn off your PC (if your down time is short enough, say within 1 week). However, SteadyWinner will only use current tick data to make trading decision.
If you cannot leave your PC on or it is shared by other family members in your house, you should rent a Virtual Private Server (VPS) and run SteadyWinner there. Since most home networks are slow, running SteadyWinner on a VPS will (usually) result in quicker respond time and better execution prices for your orders.
Q: SteadyWinner did not open orders when backtesting, why?
A: Although we asked you to put SteadyWinner on EURUSD H1 chart, it will read data for M1, M5, M15, M30 and H1 bars and use them to calculate indicator values. So you can in fact put it on chart for any periodicity and it still trade the same way. To backtest it, you need to download data for all 5 periods. On trading days, new data keep coming in, you won't be able to align all 5 periods' data properly.
We suggest you download all 5 period's data during weekends, then backtest SteadyWinner on an M1 chart. Remember periodicity doesn't matter with this EA, why not chose the most precise period (unless you also use tick data)?
Also most brokers' spreads on weekends are exceptionally high, please input 2.0 in the spread field. Using such value should make the result less appealing. However, we all know there would be delays, slippages and other execution problems during real trading, why not put some stress on the backtest and make the result looks more realistic?
Thursday, December 19, 2013
[NEW] Review of Events in Q4 2013
So long, unattended, let me give a brief review of recent events
In Sep 3013, we released SteadyWinner V6.0a. It is more stable and robust compare to V5.0 and can survive in various market condition. It trade more frequently and is more profitable than V5.
In Oct 2013, we released SteadyWinner V6.0a-Build201310, this is a patch to address the problem of SteadyWinner not opening orders on some broker accounts. The problem was solved.
In Dec2013, we opened our new shop in Tao Bao so friends from China can purchase SteadyWinner more easily. We updated this blog with new FAQ, new MyFxBook widget showing our Live Account and gave it a new look in the same month.
Well, we are approaching the end of 2013, may I wish you a
MERRY CHRISTMAS AND HAPPY AND NEW YEAR
In Sep 3013, we released SteadyWinner V6.0a. It is more stable and robust compare to V5.0 and can survive in various market condition. It trade more frequently and is more profitable than V5.
In Oct 2013, we released SteadyWinner V6.0a-Build201310, this is a patch to address the problem of SteadyWinner not opening orders on some broker accounts. The problem was solved.
In Dec2013, we opened our new shop in Tao Bao so friends from China can purchase SteadyWinner more easily. We updated this blog with new FAQ, new MyFxBook widget showing our Live Account and gave it a new look in the same month.
Well, we are approaching the end of 2013, may I wish you a
MERRY CHRISTMAS AND HAPPY AND NEW YEAR
[NEW] Just updated FAQ for SteadyWinner V6.0a and V5.0
There are so many differences between the 2 version that demand a lot of change to the FAQ. Please read and hope they answer your questions.
Sunday, December 15, 2013
[NEW] SteadyWinner opened a new store in TaoBao
Customers from China can now purchase SteadyWinner through our new TaoBao store and pay by Alipay, just scroll down the to the bottom of our website and you will find the TaoBao link.
Tuesday, March 20, 2012
We have moved to Clickbank!
After confirming the closure of our Plimus service, we have moved to Clickbank. Customers can now pay by credit cards and PayPal and immediately download the software after payment completion. Please visit our website http://www.steadywinner.com and scroll down to the bottom and click the Clickbank link to proceed to our new order page. Thank you!
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