FxExtractor Operation

Firstly, after installation, please check which version number is displayed by FxExtractor. Version
1.0 displays contact information. Please download the latest version if a new one has been released.
http://www.forextraction.com.

This EA will trade on a demo account without any restrictions. An unlocking code is required for
live trading and is valid for up to 72 hours after the request. There is no need to request a code until
you are ready for live trading. Two unlocking requests can be made within a twelve month period.
The registration file is saved to the EA file directory “fxtraction” and named “13673600.dat”. Please
save a copy of this file so it can be restored in the event of a computer or Windows upgrade, etc.
Please review the license agreement before proceeding further.

After Metatrader (MT4) is started, FxExtractor will appear in the “Navigator Window” expert
advisor list. Place the EA on to the fifteen minute chart of your choice. When the EA is placed on a
chart a new window will open. The Common tab should be set as shown.

Program parameters are entered into the Inputs Tab. After making changes, settings should be saved
using the symbol as part of the file name. One particular chart should be used to set and save Global
Settings. Always make absolutely sure that the parameters are correct before clicking OK!

Global Settings

Under Global Settings are parameters which effect all charts (active charts) that have FxExtractor
attached. To change the global settings use one of the active charts. Reset Global must be set to
“true” before clicking OK. Once the new global settings have been saved, select Expert Adviser -
Properties and return “Reset Global” back to “false”. This will stop the Alert window from popping
up when other none global settings are saved. It is recommended not to change EA parameters
while any charts have open positions.

The first global parameter is Halt Trading. This can be set to true to delete all existing limit orders
from active charts. Charts with open positions will not be affected until positions close, at which
time trading on that chart will cease. When closing Metatrader all open limit orders should be
deleted by using this method to ensure unwanted positions are not opened while Metatrader is
inactive. Click on the "Trade" tab to be absolutely sure that no orders are remaining. Only the
account balance should be displayed.

Concurrent Trades sets the maximum number of active charts that can have open positions at the
same time. At first installation Concurrent Trades is set automatically to one.

Operating Balance sets the minimum balance that is required to trade one currency pair. If the
Account Balance falls below the required minimum then the number of concurrent trades will be
reduced, or if the current concurrent trade number is one, then trading will cease. The Global setting
of Concurrent Trades is not altered by the program. If Operating Balance is set to $3000 then the
required Account Balance to trade three currency pairs must greater than $9000 and the global
Concurrent Trades setting must be three or higher than three. If Concurrent Trades were set to two
then the lot sizes of the trades would increase proportionately and only two currency pairs could
have open positions at the same time.
News Trading
News trades use the full account balance or equity available for trading. News Percentage Risk is
used to set the acceptable risk level. Normally two or three percent is OK.

The next three values are times in minutes. Maximum retry sets the time-out for the current news
release. If there is no "actual" value released within the time-out period the program will move on to
the next news item. News Download sets the regular download period used between news releases.
Some days there are news items with no published release time. When this happens, grid trades are
halted and the download period is then set by No News Time.

The trade deviation values are set separately for each chart. Trade Deviation is the minimum
percentage change between the news "forecast" and "actual" values, required for a news trade to
open. Stop Deviation is a similar setting for the maximum percentage change that will allow a
previously opened grid trade to remain open if the news item moves against the open position.

Grid Trade Parameters

Enable Trading works in a similar way to Halt Trading except that only the current chart is affected.
This flag is normally set true, but can be used, if for some reason grid trading on a particular chart
should be halted.

FxExtractor trades using a grid, and the grid size can be adjusted to suit any currency pair. Using
Metatrader back test, the most profitable grid size should be assessed, though this setting could
change over time. Suitable grid sizes are usually from fourteen to thirty pips. Grid Size has a
minimum setting of ten pips, with no maximum setting.

Account Risk is proportional to grid size and account balance. For flexibility Account Risk can be
set independently for each chart and will depend on the currency pair being traded. Some pairs like
EURUSD are very profitable but on occasion will trend strongly. Its best not to be greedy and use
risk settings that will return long term profits. Don't get carried away using settings that produce
high short term profits that appear to be sustainable. Please view the risk settings pages on the
website.

Forex Trading Hours

If trading 24/7, the Start Time, End Time and Friday Close must all be set to the same time. For
clarity I have used only UTC for these times. To use Friday Close, it must be set to a different time
than the End Time. If positions are open at the session end, the EA will continue to trade open
positions until they are closed.

General Parameters
Under General Parameters we have Alive Minutes and Display Colour.

Alive Minutes sets the time period for a small file to be written to the "fxtraction" folder. This file
can be used to monitor that Metatrader is functioning correctly. The file could be checked and
deleted, say, every five minutes and Metatrader restarted if the file is missing.

Default Color sets the text color of the information displayed on the chart by FxExtractor. The fields
displayed are version number, current broker universal server time, session status, session start or
end time, global operating balance, current concurrent trades figure, grid size and account risk.
Please note that the concurrent trades displayed is not the global setting but the setting dependent on
account balance and operating balance. When settings are changed, chart displays will generally not
update if there is an open position, or the session is closed or waiting deployment.

Back Testing
Its important that the UTC offset is correct because this setting can adversely effect the back test
operation. Work out the data time offset by observing when the open and close times match between
the chart times and the open and close times displayed by the EA. The UTC offset will depend on
the source of your data. If the chart data time is three hours ahead of UTC then the offset should be
set to -3. i.e. The chart time + UTC offset = UTC (Windows convention). Use the back test visual
mode to check the settings are correct. News releases cannot be utilised during back testing.
Unfortunately when back testing you are limited to an account size of $10,000 and a lot sizes of 0.1.
This will not generally give good results as the minimum account size for 0.1 lots should be around
$20,000. Still its possible to check out the effect of optimizing grid size and trading between certain
market hours. Where the back test fails, investigate how far price continued before it retraced to
close a position. Generally the account risk should be set well below 0.2% but this will have no
effect when back testing because the back test will already be using the smallest possible lot size of
0.1 lots.

Another problem with back testing is that using one minute bars will give differing results to actual
tick data. Tick data can be obtained if you check around on the Internet.
In order to get the trading balance to high level and as quickly as possible, a Start Risk figure can be
entered. When the account balance reaches the Operating Balance the account risk value will switch
to the normal Account Risk Percent figure. By trying different currency pairs and test periods it may
be possible to get the account balance to a level where the normal account risk and grid size can be
properly tested. At present I can't think of any other method to get account balance up to a useful
level.

De-activation

The Program is deactivated by selecting “Programs/FxExtractor/Un-install” on the Start menu. This

will delete the EA files from all MT4 experts folders and remove the program folders from the
“Program Files” folder. All copies of the installation program and its documentation should also be
permanently deleted.

Broker Accounts

To trade profitably this EA requires a minimum account balance of $20,000 in a standard account
with a minimum lot size of 0.1 lots or $2,000 in an account where the minimum lot size is 0.01 lots.
One can trade with less than this but the risk to your account balance would be significant. Its best
not to trade with funds that you cannot afford to lose for two reasons. Forex trading is very risky,
and second, emotional attachment is highly likely to cause you to close positions which should be
left alone. When opening an account, broker charges and spread should be well considered. Initially
try a demo account to see how the EA functions over a several weeks or even months, improving
settings as you go.

EA Operation

As mentioned, FxExtractor uses a grid to trade. This means that when positions are opened the
profit window will mostly show a negative (draw down) value until price reverses and closes the
trade. The Take Profit values of all open trades are set to the same price when a new position is
opened and position sizes are gradually increased so that a profit is generally, but not always made,
when positions close. Looking back through the historical data for any particular currency pair is
the only safe way of deciding the best account balance and risk settings to use.

By not trading when financial news releases are issued, most of the big moves in price will be
missed.

Spread and broker charges mostly affect profitability so stick with currency pairs with low spreads
and find a broker with small spreads and low charges. Spreads on mini accounts are generally
higher so it may be wise to increase account balance beyond the minimum of $2,000 and possibly
reduce risk settings since positions will take longer to close. Again I strongly suggest you check out
the pages on the website for the best risk settings and trading methods.

When using multiple currency pairs, if a position opens and the concurrent trades limit is reached,
the limit orders on all other charts without open positions will be deleted. Further limit orders on
these charts will not be placed until the open positions on one of the remaining active charts are
closed. Its possible that on occasion the concurrent trades figure will be exceeded if two trades open
simultaneously. I should say that profitability is greatly improved when trading multiple currency
pairs, up to three or four charts with open positions. Please see the website.

FxExtractor has been coded robustly so that positions will survive in tact if there is a program or
computer crash. Preservation of account funds has been carefully considered. Inadvertently deleted
limit orders should be immediately replaced or replaced when new positions are opened. If any
errors occur the error code and description should show in the Experts Message field. Please advise
admin@forextraction.com of any recurring errors, or indeed, any suggestions for program
improvement or constructive criticism will always be welcome.

From time to time there will be new releases of FxExtractor with bug fixes if required and
operational improvements. If registered you will be notified by email when such releases are
available.

Profitability

You may think that 6% profit per month is too small. Consider beginning with an account of $2000.
If the account is left alone without drawing funds, after one year you will have made 100% on your
account balance. This table reflects how your account balance could grow.

Annual Growth Over Ten Years

Year Year Start Year End

1 2000 4024
2 4024 8098
3 8098 16,294
4 16,294 32,788
5 32,788 65,975
6 65,975 132,755
7 132.755 267,130
8 267,130 537,517
9 537,517 1,081,590
10 1,081,590 2,176,370

A millionaire inside ten years if you can step back and allow the account to grow.

If you go ahead with a purchase, after payment please allow twenty four hours before requesting an
unlocking code.

Warning

Foreign exchange transactions carry a high degree of risk and any transaction involving currencies
is exposed to, among other things, changes in a country's political condition, economic climate, acts
of nature - all of which may substantially affect the price or availability of a given currency.

Speculative trading in the foreign exchange market is a challenging prospect with above average
risk. You must therefore carefully consider your investment objectives, level of experience and
appetite for such risk prior to entering this market. Most importantly, do not invest money that you
are not in a position to lose.

In addition, trading on a margin basis means that any market movement will have a proportionate
effect on your deposited funds. This can work for you as well as against you. The possibility exists
that you could sustain a total loss of initial margin funds. There are also risks associated with
utilizing an Internet-based trade execution software application including, but not limited to, the
failure of hardware and software.