Forex Ultra Scalper

User's Guide

by Rita Lasker
2011
www.forexultrascalper.com
Introduction
Practically any trader, particularly in the beginning of their career, tried scalping.
You have to agree, that the sensations from playing Cat and Mouse give you an
incredible “high”. Very few traders sustain the crazy rhythm of this type of trade. Only
very few can stay with scalping for long.
One of our developers in the beginning of his career got excessively involved in
scalping and eventually got burned pretty bad. He was forced to sell his new Toyota
Prius, his father gave him on his University graduation.
However, what’s most incredible, is that the majority of people, who sustained
losses in scalping, nevertheless, would like to try it again.
As a general rule, these people are afraid of losses, pressure and nerve-wrecking
experiences. They are also afraid to be unhappy with themselves if they, once again,
sustain losses.
However, now all these fears could be a thing of the past. You can, once again,
safely open M1 chart. Now, at your disposal, there’s Forex Ultra Scalper – the
unique software, that, just like an old friend, will guide you, give you clues and
prevent you from making wrong moves.

Yours,
Rita Lasker & Green Forex Group.
Disclaimer

Please be aware of the loss, risk, personal or otherwise consequences of the use and application of
this book’s content. The author and the publisher are not responsible for any actions that you undertake
and will not be held accountable for any loss or injuries.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options
trading has large potential rewards, but also large potential risks. You must be aware of the risks and be
willing to accept them in order to invest in the futures and options markets. Don't trade with money you
can't afford to lose.
This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being
made that any account will or is likely to achieve profits or losses similar to those discussed on this web
site. The past performance of any trading software or methodology is not necessarily indicative of future
results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN
LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT
ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE
UNDEROR- OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS
LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT
THAT THEY ARE DESIGNED
WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL
OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
No representation is being made that any account will or is likely to achieve profits or losses similar to
those shown. In fact, there are frequently sharp differences between hypothetical performance results
and the actual results subsequently achieved by any particular trading program. Hypothetical trading
does not involve financial risk, and no hypothetical trading record can completely account for the impact
of financial risk in actual trading.
All information on this website or any e-book purchased from this website is for educational purposes
only and is not intended to provide financial advise. Any statements about profits or income, expressed
or implied, does not represent a guarantee. Your actual trading may result in losses as no trading
software is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree
to hold Forex Mercenary and any authorized distributors of this information harmless in any and all ways.
The use of this software constitutes acceptance of my user agreement.

COPYRIGHT

This book and software is the copyright of and cannot be re-written, re-published,
STORED OR LINKED AT ANY FILE SHARING SITES or FORUMS or used for any other books without
proper referencing without permission. The use of the book and software is limited to your personal use.
Spreading out the copies without paying for them is illegal and protected by international copyright law.

Copyright © 2011 Rita Lasker & Green Forex Products & Software Group.
All rights reserved.
How the System works
As the majority of trading systems, Forex Ultra Scalper utilizes a system, known as
a “Signal Generator – False Signals Filter”.
Forex Ultra Scalping begins to operate the very instant you loaded indicators into a
chart. The system analyzes previous price activity. Based on that activity, the system
creates a few possible scenarios of further activities. Minute by minute, new
computations are being made. Activities fitting the predictions, calculated by the
system, allow for the next computations to be even more precise. The signal
generator, based on the price analysis, finds an optimal moment in time for opening
an order. Afterwards, a signal is passed on to a filter block for even further
processing.

The “Real Deal” with the Forex Ultra Scalper

The product has one of the Up-to-date modern algorithms, designed around our
“Ultra Smart Prediction Technology”.

The main ‘staple’ is the Filter Block, (that blocks false signals), that we, in all
honesty, consider our Pride and Joy.
This block analyzes all possible incoming data:
Dynamics of quotations activity
Time of the day and market activity during different sessions
Volume
Spread expansion dynamics
Quotation activity the very same time, but the day before
The presence of divergence and convergence - both at quotations as well as
oscillators

All these computations are done “on the fly”, in a split second, sending the resulting
signals to a trader.

Installation and Setup

Forex Ultra Scalper is a Bundle of plug-ins that requires MetaTrader 4 to function.

If you already have MetaTrader 4 installed, place the following files:

ultra_signal.ex4
ultra_filter.ex4

into C:/Program Files/xxxxx/experts/indicators, where xxxxx is the name of

your MT4.

For example, the MT4 from FxPro is called FxPro - MetaTrader, and the complete
path will look like this:
C:/Program Files/FxPro - MetaTrader/experts/indicators.

Relaunch MetaTrader 4 and skip to Step 3 below.

If you do not have MetaTrader 4 installed, you need to download it from a Forex
broker web site.
Choose only a broker with a good reputation. Many forums have entire sections
exclusively dedicated to brokers. There you can learn about all the ‘pluses’ and
‘minuses’ of each broker. Don’t be lazy – take a look and see it for yourself.
Choose a broker with a minimal spread. An excessive spread may make your
scalping gainless. A large spread is, simply, a chunk out of your pie that goes to
somebody else.

We recommend using only well known, reputable brokers that have been on the
mark for a long time, such as:

FxPro http://fxpro.com

Alpari UK http://alpari.co.uk

WARNING!
We don’t advise you doing scalping from ECN-broker terminal. ECN brokers take
disproportionately large commission from each order and this commission is much
larger than any spread by non-ECN brokers.

Step 1
Follow the links above, choose your Forex broker, and download MetaTrader 4 for
free.
After you download MetaTrader 4, install it on your computer. This is a standard
and simple operation.

Step 2
After the installation of MetaTrader 4, place the following files:

ultra_signal.ex4
ultra_filter.ex4

into C:/Program Files/xxxxx/experts/indicators, where xxxxx is the name of

your MT4.

For example, the MT4 from FxPro is called FxPro - MetaTrader, and the complete
path will look like this:
C:/Program Files/FxPro - MetaTrader/experts/indicators.

Step 3
(if you have your own demo or your own real account already, skip Step3)

Launch MetaTrader 4 by selecting it from the Start menu.

When the application launches, it presents a window in which you need to enter
your demo account details.

Fill out all the fields carefully.

Selecting the “I agree to subscribe to your newsletters” checkbox makes the OK

button available. Once you have filled out all the fields, click OK.

When you click OK, your demo account will be registered and you will be signed in
with the system with your demo account details.

Your account number is displayed on the left of the window title. If you see it there,
it indicates that your account has been registered successfully and you have logged in
the system.
Step 4
Take a look at the Navigator panel on the left of the main window.

The Navigator panel displays all the

accounts, indicators, expert advisors, custom
indicators, and scripts available to you. Let’s
focus on Custom Indicators for now.

If you followed the simple instruction

above, you should see ultra_filter and
ultra_signal under Custom Indicators.

If you don’t see it there, please make sure

you have placed the files
ultra_signal.ex4 and ultra_filter.ex4 in the
correct folder, as described above.

Relaunch MetaTrader 4 and check Custom

Indicators again.

If ultra_filter and ultra_signal are still not

listed there, contact our technical support by
sending an email to:

[email protected]

Step 5

Open any chart in MT4.

Please use M1 Timeframe only.

Drag and drop ultra_signal and ultra_filter from the Navigator panel to the
charts.
A window with the Indicator settings appears.
Please, make all the settings in the “Common” tabs the same as in the picture
below.

The rest of the settings please leave default.

Click OK

After the successful installation the chart would appear as:

Signals
It is the signal when both indicators are of the same color. Please take an action as
soon as you see both of them of the same color – do not wait for a sound alert or any
pop-up messages. There are no such alerts. Scalping is the quickest type of trading,
there is no place for the time-consuming alerts, you must follow the price and react.
Ultra_signal may change its color often, that’s why please make sure that
ultra_filter is also of the same color before placing the order. Commonly, ultra_filter
filters out most of the false signals.

Buy Signal
When both ultra_signal and
ultra_filter become blue, open Buy
Order.

Sell Signal
When both ultra_signal and
ultra_filter become red, open Sell
Order.
Closing orders
When ultra_signal changes its color – it is the signal for closing an order. Once it
has changed the color, close the current order and wait.

If after it ultra_filter also changes the color, open a new order in the opposite to
the previous order direction.

If ultra_filter remains of the same color and doesn’t change it, wait for
ultra_signal to return back to the previous same color so they matched again and
place the order in the same direction as the previous one.
It is the false signal when ultra_signal changes the color alone and ultra_filter
remains unchanged.

For the safest trading you may close the order as soon as see ultra_signal changed
its color. Alternatively, wait for ultra_filter to confirm it by turning into the same color
as well.

Stop Loss
We recommend using 20 pips Stop Loss. Though, the system will give the signal for
closing a lossy order much earlier.

Trailing Stop
You can use the classic inbuilt MetaTrader Trailing Stop feature or take advantage
of our Trailingator.
The value of Trailing Stop depends a lot on the currency pair and the specific time
of trading. If you are quite experienced to define this value, please do it. In case you
don’t know how to start, set 7-8 pips for a while and if the orders are closed much
earlier than desired, increase the value.

Warning!
We highly recommend you NOT to trade during first 6 hours of Monday when
Forex opens after a weekend. Also it is not the best time to trade few hours before
and after the important news releases.

Important News Releases

 
Important economic news reports are usually released at the same well known time
on the regular basis. All reputed brokers have the detailed economic calendar review
at their sites. Please visit your broker web site, most likely you will find Forex
Calendar or Economic Calendar there.
Alternatively, just sign in to our Green Forex Group at the site and get our special
Free Friday Forex every Friday with the Economic events calendar included.
Big price moves that may take place during the news releases are not necessarily
of long duration. This is the reason why we recommend closing the orders only before
the economic news. And the decision about opening the orders again should be taken
a bit later, when the market stabilizes.

Good luck with your trading!

If you have any questions, please feel free to ask our support team by sending an
E-mail to: [email protected]

We will do our best to help you.

Yours,
Rita Lasker & Green Forex Group.

www.forexultrascalper.com

Any additional information: http://www.ritalasker.com

Contact Information: http://www.ritalasker.com/contacts.htm
ALL Green Forex products: www.ritalasker.com/products.htm