Installing Enigma Algo®
To install the algorithm on your trading platform, follow these instructions:
1- Open your MetaTrader platform.
2- Login to your XM account from "File" > "Login to Trade Account" and enter your credentials.
3- Select "File" > "Open Data Folder".
4- Go to "MQL4" > "Experts" and copy the downloaded Enigma Algo file into this folder.
5-Restart or refresh your trading platform to ensure the EA is loaded properly.
Enabling Auto Trading
Ensure the auto trading feature is enabled in your trading platform.
The button should appear green, indicating that auto trading is enabled. If not, click the "Auto Trading" button on your platform’s toolbar to activate it.
To activate the algorithm:
1- Find the currency pair you would like to run the algorithm on from the “Market Watch” panel, right click and hit “Chart Window” to open the chart.
2- In your trading platform, open the "Navigator" panel.
3- Find the algorithm you would like to run under the "Expert Advisors" section and drag it to the chart of the currency pair you want to trade, or you may double click on the algorithm when the chart of the currency pair is selected.
Configuring Input Variables
Once the algorithm is activated, a screen with three tabs will pop up.
The “About” tab will be providing general information about the algorithm.
The “Common” tab should be adjusted as shown.
The “Input” tab will have the parameters to be adjusted to maximize trading performance.
The “Start Time”, “End Time” and “Percentage of Account to Risk on Each Trade” should be adjusted like the following:
Setting Start Time and End Time
The Start Time and End Time parameters define the window during which Enigma Algo is allowed to execute trades. These times are preset to GMT+3 time zone. You need to adjust them to match the trading hours of your server’s time zone.
For example, if the preset StartTime is 7(GMT+3) and your server time is in GMT+1, you should set StartTime to 5. Similarly, adjust EndTime based on your time zone.
Example: If EndTime is 23 (GMT+3) and your server time is inGMT+1, set it to 21.
Please keep in mind that your local time zone and your account’s server’s time zone could be different. The time you need to adjust your trading hours accordingly is located on the “Market Watch” panel.
If you wish the algorithms to run 24 hours, simply set both the start time and end time to the same value.
Setting Percentage of Account to Risk on Each Trade
This parameter controls how much of your account balance is risked on each trade, expressed as a percentage. This setting is crucial for managing the risk associated with trading and calculating the Lot Size of each trade.
Example 1: Setting the percentage to 0.02 will risk 2% of your account balance per trade.
Example 2: A percentage value of 0.1 means 10% of your account balance is risked per trade.
By default, the parameter is set as 10%, which is the optimal percentage we suggest, however, you may increase or decrease it to a level that you desire.
Important note: this level is set with the assumption that your leverage is set as 100:1, which is the most common leverage. If your leverage settings are different, you should set this parameter accordingly.
Example: If you would like to follow our suggested percentage (10%), and your account leverage is set as 1000, you need to configure this parameter as 0.01, instead of 0.1.
Considering your leverage is 100:1, here are the configurations you may apply to fraction of the account according to your risk appetite;
Low-Risk Appetite: 0.05
Medium-Risk Appetite: 0.075
Optimal/Suggested-Risk Appetite: 0.1
High-Risk Appetite: 0.15
We don’t suggest configuring this setting above 0.2.
Please keep in mind that this setting should be configured for all 3 algorithms you will use: EURUSD, USDJPY, and GBPUSD.
In order to access the input screen when the algorithm is running;
Right-click on the chart, find the “Expert Advisors” section, select "Properties", and go to the "Inputs" tab, or simply hit F7 on your keyboard. By doing so, you may re-adjust the parameters as you like.
Once you adjust the parameters and click “OK”, the algorithm will start running and an Alert screen will pop up, notifying you that the algorithm is up and running.
Setting Up Mobile Notifications
To receive mobile notifications about Enigma Algo’s activities:
1- Download the MetaTrader 4 application into your smartphone and log in to your trading account.
2- On your computer’s trading platform, go to "Tools" > "Options" > "Notifications".
3- Check the “Enable Push Notifications” section.
By doing so, you may track your trades from your mobile phone and get notified every time a trade is opened or closed.
It's Done
Support and Monitoring
After setting up all three products the same way, Enigma Algo will automatically execute trades based on its algorithms. Monitor its performance and trading activities directly through your computer or mobile application.
Enigma Algo’s trading algorithms are designed to not interfere with your manual trading. Therefore, you may trade freely while Enigma Algo runs in the background. You may also manually close the positions opened by our algorithms.
If you desire to stop the algorithm from running, right-click on the chart, go to “Expert Advisors” and click “Remove”.
We wish you great success on your trading journey with Enigma Algo.
