Does news-on-charts automatically stop trading?
No. When news is displayed on a chart it is only for advice. This feature does not stop trading automatically (see below) but is provided as some people like to step aside when news is expected. You can stop trading at any time by pressing the MT4 ‘expert advisors’ button.
What are non-farm payrolls?
Non-farm payrolls or non-farm employment change is a measure of the change in the number of people employed in the USA during the previous month, excluding the farming industry.It is considered as important economic data and often has a large and erratic effect on the markets. NFP is normally released on the first Friday of the month at 12.30GMT.
Should I stop trading during non-farm payrolls?
Tests run on Windfall on just the NFP days have shown that they trade no better or worse than any other day. So if there is no reason to stop trading on these days, which often produce the most erratic price movements, then there is little reason to stop on other days, except around Christmas and New Year.
How many accounts can I use with each Windfall licence?
You can use Windfall on 3 accounts. You list the accounts on the Windfall website under the ‘my accounts’ button and can change them whenever you like. The accounts can be real or demo.
Is Forex Windfall a slave EA getting signals from a remote server?
No. The EA is not a trade copier. It calculates trades independently.
Does the EA use remote server authentication? if so, how often does it check?
Windfall does use server authentication. As any EA can be freely distributed once sold, this method helps to prevent abuse (and overuse by rogue copies). It can also be used to fine tune some of the program variables from time to time but this has not been needed so far. The EA checks in at the start of the session and then hourly, although this period may be extended if necessary.
In basic terms, what is the trading strategy based on: breakout, trend, counter-trend?
Windfall looks for pullbacks from the main trend on the 30 minute EURUSD and GBPUSD charts and then trades in the direction of the main trend.
What happens if I lose internet connection during a trade?
Windfall works by setting the final take profit and stop loss levels at the start of the trade. If you subsequently lost your internet connection you would be running the program without trade management. This option, although it’s not in the released version, also gives very good results. As the take profit and stop loss levels are now logged with your broker the trade would continue to its natural end without increased risk. As soon as your internet connection is re-established, the trade would once again be managed normally.
Which magic numbers does Windfall use?
From version 1.7 (June 2011) Windfall uses 925342 as its default magic number. You can change this value in the EA's property box (double-click the smiley face at the top right-hand side of the chart). Magic numbers and the symbol name of the currency pair are checked before closing a trade to distinguish Windfall trades from the trades of other EA's.
Can I change the magic numbers Windfall uses?
Yes, see previous answer. This option was released in version 1.7 (June 2011).
more coming ....