Frequently Asked Questions
General Forex Questions
What is Forex?
Getting Started With 5 Pips a Day
Do I have to trade myself? Is it difficult to setup?
The Foreign Exchange market, also referred to as the "FOREX" is the largest financial market in the world,
with a volume of over $2 trillion a day.
If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the
Foreign Exchange really is.
What Tools Do I Need to Start Trading Forex?
A computer with an internet connection or virtual private server for remote trading. You also need a trading platform such as MetaTrader 4.
What trading software do I need to run 5 pips a day and where do I get it from?
5 pips a day is designed to work with the forex trading platform Metatrader 4, which is offered by many of the leading forex brokers.
Metatrader 4 can be downloaded for free from most broker's websites, usually via a "download trading platform" link.
What is a forex robot?
A forex robot (also called expert advisor) is an automated robotic script written in MQ4 language that can work in the Metatrader4 platform. (there are also robots for other trading platforms).
Can advisors work when I am away or go out?
Yes, they can work 24 hours/day for you if you wish.
What is Virtual Private Server (VPS)?
VPS is a special service that can host your trading on a remote server so you no longer need to keep your PC on 24/5 for trading.
Demo or Real account?
You should always try your expert advisors on Demo account first.
We don't recommend trading on a real account without testing on a demo account first!
You will get step-by-step instructions how to setup and run 5 pips a day and it is fully automated.
How much money do I need to start trading?
Depending on your broker terms, you can start trading with around $50 on some brokers.
It is recommended that you start with capital that you can afford to lose as trading is risky or practice on a
demo account untill you are satisfied with the performance.
Is it hard to learn and implement your trading system?
We provide detailed instructions and 24/7 support.
Can I adjust parameters of the 5 pips a day advisor?
You can change stop loss, take profit and other parameters & filters depending specifically on your needs.
All of them are described in the instructions. You are responsible for the settings that you choose.
What timeframe and currency should I choose?
5 pips a day was developed for the EURUSD currency pair 1 minute chart.
Specific 5 Pips a Day Questions
What is 5 pips a day?
5 pips a day is a fully independent software robot which trades the foreign exchange currency market on autopilot 24 hours a day.
Robots such as 5 pips a day are called "Expert Advisors" or EA's, and are attached to the currency charts in the trading platform
software which is provided by forex brokers.
What is the percent of winning trades?
According to historical backtests in the mt4 strategy tester over a 8 year period, 5 pips a day made around 96% winning trades.
Results are based on historical data. There is no guarantee of future performance.
You should understand the risks involved with trading.
Different brokers can produce different results due to spreads and liquidity. Your capital is at risk.
Beginner traders should research and learn about trading before using any forex software.
I do not like the "no stop loss idea" in other advisors. How about that in 5 pips a day?
5 pips a day uses a fixed stop loss.
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