Golden Pickaxe - Setup Guide

Ver 2.
6 - Updated 14/02/2024
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Introduction
Welcome to Golden Pickaxe’s comprehensive guide. In this documentation, we’ll cover everything relevant to
trading with Golden Pickaxe Expert Advisor, from the most basic concepts, to installation, setup and trading
strategy. The information is purposely divided and ordered into fourteen different sections:
1. Expert Advisors:The first section contains general an introduction with general information about Expert
Advisors, where they can be found and how track-records can be verified.
2. Golden Pickaxe: The second section contains a description about Golden Pickaxe, links to the verified
MyFxBook and MQL5 track records, and back-testing data.
3. Brokers: The third section goes through what a Forex broker is, how to select one for you to trade with
Golden Pickaxe, my personal recommendations, and the most popular ones within my clients.
4. Licenses: The fourth section explains how the licensing system of my Expert Advisors works, and the
progress to activate licenses both for free trials and permanently once you purchase your Golden Pickaxe
license.
5. Installation: The fifth section contains all the information and step-by-step instructions you need to
access Golden Pickaxe, install it in your MetaTrader 4 or 5 trading platforms and start trading with it
automatically.
6. ValeryVPS: The sixth section introduces you to ValeryVPS, explains you how to get access to one both if
you’re going through a free trial or you purchased a Golden Pickaxe license and how to renew or terminate
your subscription after your two months grace period.
7. Set-up: In the seventh section you will find information about setting up Waka Waka in your MetaTrader 4
or 5 platform charts and making sure your is licensed and allowed to trade with the Expert Advisor.
8. Updates: In the eighth section you will learn how to update your Golden Pickaxe Expert Advisor, whether
you bought it on the website or through the MQL5 marketplace.
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Introduction
9. Grid trading system risks: In the ninth section you will find critical information about the risks of trading with
grid systems, and why money and risk management are key for long-term sustainability.
10. Parameters: In the tenth section, you’ll find a brief explanation of each one of the +50 customizable
parameters that Golden Pickaxe allows you to configure.
11. Community: In the eleventh section you will find information about our Telegram private groups, and
instructions on how to join them when you buy your Golden Pickaxe license.
12. Testimonials: In the twelfth section you will find some of the testimonials and reviews from happy clients who
succeeded with Golden Pickaxe and my Expert Advisors.
13. Affiliate program: In the thirteenth section, you will find information regarding our affiliate program, and how
you can earn up to 50% commissions by referring colleagues/friends/family to Golden Pickaxe or any of my
Expert Advisors.
14. Frequently asked questions: In the last section of the guide you will find a compilation of the most frequent
questions I get asked by clients and users going through the free trials for my Expert Advisors, and their
corresponding answers.
I will try to cover everything relevant to my Golden Pickaxe Expert Advisor on this guide, but it is possible that
you still have doubts or face some issues while installing, configuring or trading with them. Please, feel free to
contact us anytime at support@valerytrading.com and we will be more than happy to help you out with
anything you might need.
Best wishes,
Valeriia Mishchenko
Algorithmic software developer
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Table of contents
● Expert Advisors ● Updates

○ What is an Expert Advisor ○ How to update Golden Pickaxe
○ Where to find Expert Advisors ● Prop-firm trading
○ How to verify track records ○ What is a prop-firm & a challenge
● Golden Pickaxe Expert Advisor ○ What are challenges conditions?
○ Description ○ Prop-firm challenges disclaimer
○ MyFxBook track records ○ How to increase your chances
○ MQL5 live signals ○ How to get a custom set-file
○ Back-testing data ○ How to use a custom set-file
● Brokers ● Grid trading system risks
○ What is a Forex broker ○ Money & risk management for grid trading
○ How to choose a Forex broker ● Parameters
○ Recommended Forex brokers ○ Inputs
○ Popular Forex brokers within clients ○ Risk management
○ Popular account sizes within clients ○ MM & Risk settings
○ MetaTrader 4 vs MetaTrader 5 ○ Time settings
● Licenses ○ Strategy
○ How licensing works ○ Machine learning setup
○ How to start your free trial ○ Pereptron training
○ How to buy a license ○ Take profit settings
○ Money back guarantee ○ Stop loss settings
○ How to activate your licenses ○ Grid settings
● Installation ○ News filter settings
○ How to install Golden Pickaxe ○ Stock market crash filter settings
○ “Easy installation” ○ Additional settings
○ “Manual installation” ○ Backtest settings
○ “MQL5 marketplace installation” ● Community
● ValeryVPS ○ Telegram public channel
○ What is ValeryVPS ○ How to join private group
○ How to activate ValeryVPS ● Testimonials
○ How to update your EA/news events files ○ Video testimonials
○ How to renew/terminate ValeryVPS ○ Reviews
● Setup ● Affiliates
○ How to setup Golden Pickaxe ○ Affiliate program information
○ How to fix the “License error!” ○ How to join affiliate program
● Frequently Asked Questions
○ FAQ
● Earnings & Risk Disclaimer
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EXPERT
ADVISORS
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What is an Expert Advisor
Expert Advisors (EAs) are software programs written in MetaQuotes language (MQL), that can be used to
automate trading on the MetaTrader 4 and 5 (MT4/MT5) platforms.
EAs use different algorithms to monitor and trade financial markets. They follow predefined parameters to
identify opportunities and can either notify you or automatically open a position. Expert Advisors can also set
conditions for closing positions, such as stops, trailing stops, and limits.
Expert Advisors work by allowing you to define rules for finding opportunities and making trading decisions, and
use complex mathematical models that combine multiple yes/no rules. This enables them to execute advanced
trading strategies and make quick decisions based on computational power.
According to their trading strategies, EAs are usually classified within:
● Scalpers: These Expert Advisors aim to capture small profits whenever they become available. They
continuously open and close trades, depending on market conditions.
● Hedge EAs: These Expert Advisors engage in hedging strategies by taking two opposing positions. This
approach helps to mitigate losses in one position while facilitating profits in the other.
● News EAs: As the name suggests, the primary objective of these Expert Advisors is to capitalize on news
events and significant price movements that occur during major news releases.
● Breakout EAs: These Expert Advisors are specifically designed to initiate trades when the price breaks
through predefined resistance and support levels.
● Grid EAs: Grid trading is a trading system that involves using multiple orders to average the open price.
Typically, the trading grid adds new positions to existing ones when they start experiencing losses.
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Where to find Expert Advisors
There is a wide array of Expert Advisors available on the internet. The MQL5 marketplace stands out as the
largest platform for buying and sellings EAs. Owned by MetaQuotes, the MQL5 marketplace is seamlessly
integrated with MetaTrader 4 and 5 platforms, making it easily accessible to users.
In my journey as an Expert Advisor developer, I joined the MQL5 marketplace in June 2021. To my delight, my EAs
garnered significant attention and popularity. If you're interested, you can explore my public MQL5 profile,
where you'll find my collection of Expert Advisors, along with live signals records and valuable client reviews.
While the MQL5 marketplace serves as a popular hub for Expert Advisors, some developers opt for an alternative
approach by selling their creations on their own websites. This choice provides them with greater flexibility and
allows for custom developments that enhance the overall user experience. Taking a cue from these developers,
I launched my own website in June 2022, which serves as an additional platform to showcase and sell my Expert
Advisors.
On my website, I offer a range of features that enhance the user experience. These include a multi-functional
user dashboard, the opportunity to try out expert advisors with free trials, a dedicated custom VPS service, and
helpful profit calculators. The aim is to provide you with a comprehensive and tailored experience when utilizing
my EAs.
As a user or client, you have the freedom to choose the platform that suits you best to access my EAs. In this
guide, our primary focus will be on the website platform, as it offers unique features and a personalized touch.
Rest assured, regardless of the platform you choose, the Expert Advisors themselves remain unchanged,
ensuring consistent and reliable results. The platform choice mainly influences the overall user experience,
providing additional convenience and functionality along the way.
My website
My MQL5 profile
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How to verify track records(MyFxBook)
One crucial aspect in the realm of Expert Advisors is the ability to verify their track records using a reliable
third-party platform. In this industry, there are unfortunately numerous individuals with malicious intentions
who make false claims about their EAs, aiming to deceive unsuspecting individuals venturing into Forex trading.
Without a trustworthy third-party platform that tracks the performance of Expert Advisors over time, it becomes
challenging to ascertain their actual capabilities. As a result, you are left with the option of either blindly
believing the claims made by the developer or questioning their authenticity.
Fortunately, there are several reputable third-party platforms available for verifying track records, with
MyFxBook being one of the most popular and trustworthy choices. It provides a comfortable trading
environment, facilitates analysis of trading systems and accounts, and encourages idea-sharing among traders.
Advanced traders can optimize their forex trading systems and monitor their trading performance, while
investors and managers can connect with each other. MyFxBook ensures guarantee, security, and transparency
in these interactions.
To ensure transparency and trust, I maintain a verified public MyFxBook profile. It showcases more than 15
different track records of variations of my expert advisors, each with different configurations.
This profile updates in real time with every trade executed in my official accounts, meticulously recording the
trading history.
Feel free to visit my MyFxBook profile at any time and don't hesitate to ask me any questions regarding the track
records you find there. I am more than willing to assist you and provide any necessary clarification.
My MyFxBook profile
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GOLDEN PICKAXE
EXPERT ADVISOR
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Golden Pickaxe description
Golden Pickaxe is a mean-reversion grid trading system that uses

machine learning technology to place high-profit potential trades
on the Gold market. It uses real market inefficiencies to its
advantage to have an edge over the market.
The EA has 5 predefined set files, which are essentially 5 different

trading systems on gold. You may choose the default option (XAU
Balanced Vol) or have your own preference.
Features:
● Trading style: Grid
● Supported currency pairs: XAUUSD
● Timeframe: M1 (1 minute)
● Not sensitive to slippages
● Uses Martingale
● FIFO/FTMO compatible
● +1 year verified MyFxBook
● +1 year MQL5 live signal
● Profit calculator
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Description
● Low-potential trade filtering with Perceptron-based

machine supervised learning technology
● Allows you to retrain neural network on your broker's

data
● Statistic panel with self diagnostic system and neural

network forecast indicator
● 5 risk management sets
● +20 years high-quality back-testing data
● One chart-setup
● Multi-currency pairs support
● Advanced news filter, Stock market cash filter, New year

holiday filter
● Auto GMT detection
● Need to run on VPS
● Market execution
● 14 days free trial, 30 days money-back guarantee
● 2 months free ValeryVPS
● Telegram private group
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Verified Track record: MyFxBook
The Golden Pickaxe EA comes with different set files, which represent very different trading systems. These are as far
from each other as possible in terms of entry and exit logic, meaning that it’s not just one system you have on hands,
rather different trading systems, all in one Expert Advisor.
Here you can see my verified Golden Pickaxe MyFxBook track records:
● Golden Pickaxe Balanced Vol
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Verified Track record: MQL5 live signals
Or my verified Golden Pickaxe live signal on MQL5:

● Golden Pickaxe Balanced Vol
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Back-testing
Before ever deciding to trade with an Expert Advisor, it is a good idea to back-test it.
Backtesting is a method of analyzing how well a trading strategy could perform by applying it to historical
data from the real world. It helps you compare different strategies and choose the one that gives you the
best results.
The idea behind backtesting is that strategies that worked well in the past are likely to perform well in similar
market conditions in the present and future. By testing trading plans on previous datasets that closely match
current market conditions, you can see how they would have performed before actually making any trades.
However, it's important to remember that backtesting doesn't guarantee success in the current market. Past
results are not a foolproof indicator of future performance.
Backtesting is simply a part of doing your research before entering a trade. It helps you understand the
potential volatility of an asset and take steps to manage your risk accordingly.
You should also keep in mind that real trades involve fees that may not be considered in backtests. It's
crucial to account for these trading costs when conducting simulations, as they will affect the profit-loss
margins on a live trading account.
That’s why constantly back-test all of my Expert Advisors, with real tick data and 100% accuracy trading
history.
Here you have links to +20 years backtests for Golden Pickaxe:
Golden Pickaxe back-testing data
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BROKERS
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What is a Forex broker
To trade with Golden Pickaxe, you will need a broker. If you already have a broker of preference, you can skip this
whole section and go directly to licenses.
In the world of trading, a forex broker plays a crucial role as a financial services company. They offer traders a
platform where they can buy and sell foreign currencies.
A forex broker is sometimes referred to as a retail forex broker or a currency trading broker. They cater to a
diverse range of clients, including retail currency traders who use these platforms to speculate on currency
trends. Additionally, they serve large financial services firms that trade on behalf of investment banks and other
customers.
While each forex broker firm handles only a small fraction of the total foreign exchange market volume, their
services are invaluable to traders and investors alike.
In order to trade with my Expert Advisors, you will need to operate within a broker that offers MetaTrader 4 or 5
platform.
The broker you select to operate within is completely up to you. Based on the Expert Advisor/s you want to trade
with, your broker selection will have a significant impact in the results you get.
Even if you trade with EAs that are not sensitive to spreads/slippages, it’s always recommended to operate with
brokers that offer you the best trading conditions.
In the next few pages, I will give you a few tips on how to select a broker, and my top recommendations based on
that.
If you already have a broker of preference, you can skip it and go directly to licenses section of this guide.
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How to select a Forex broker
To engage in forex trading, you will need to open a trading account with a provider that offers online foreign
exchange (FX) trading or CFD trading services.
These providers are commonly referred to as retail "forex brokers" or "CFD providers", and there are a few
important aspects to consider when choosing one:
● Leverage: In simple terms, leverage means having the power to control a significant amount of money by
using only a small portion of your own funds and borrowing the rest.
● Margins: Refers to the initial deposit of funds required by your broker as a "good faith" payment to open a
trading position, typically expressed as a percentage of the total position value.
● Spread: When dealing with currency pairs, brokers provide two prices: the bid and ask price. The bid price
is the amount at which you can sell the base currency, while the ask price is the amount at which you can
buy the base currency. The difference between these prices is called the spread.
● Commission rate: In forex trading, the commission rate is usually a percentage calculated based on the
total value of the trade.
● Deposits and withdrawals: When dealing with forex brokers, it's crucial to be aware of additional fees that
may be involved in trading. It's important to know these fees upfront before deciding to work with a
particular broker. Hidden charges can often arise during key moments, such as making your initial deposit,
making subsequent deposits into your account, or when withdrawing your profits as funds.
● Regulations: Financial regulation involves imposing requirements, restrictions, and guidelines on financial
institutions to ensure their proper functioning, while forex market regulation specifically governs the
operations of firms in the forex industry to protect individuals from financial risk and fraud through
ongoing oversight and enforcement of rules.
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How to select a Forex broker
● Currency pairs: Although there is a wide variety of currencies available for trading, only a select few
receive significant attention and offer high liquidity. Apart from popular pairs like EUR/USD and GBP/USD,
other major pairs include USD/JPY and USD/CHF. While brokers may provide an extensive range of forex
pairs, it is crucial to ensure they offer the specific pairs that interest you as a trader.
● Trading platforms: The trading platform serves as the gateway for investors to access the markets,
making it essential for traders to ensure that a broker's platform and software provide the necessary
technical and fundamental analysis tools. It is important that trades can be executed smoothly, allowing
for easy entry and exit.
● Customer service: Since forex trading operates around the clock, it's important to ensure that a broker's
customer support is available 24/7. It's also worth considering how easily accessible live support
personnel are. Making a brief phone call to a broker can provide insights into their customer service
quality and typical response times.
All the aspects mentioned above are important, but the one that will affect your results the most when trading
Forex as a retail trader, is spread.
To check the historical spreads of different Forex brokers for different currency pairs, you can use a free tool
called ForexBenchmark:
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Recommended Forex brokers
Based on my own experience and my client’s, these are my top 3 recommended brokers to trade with my EAs:
1. IC Markets: IC Markets is one of the most renowned Forex CFD provider, offering trading
solutions for active day traders and scalpers as well as traders that are new to the forex
market. IC Markets is Australian-based, headquartered in Sydney.
○ Most popular retail Forex broker worldwide
○ Excellent trading conditions
○ 24/7 support available
○ EU, AU and offshore-based branches for different audiences
1. Fibo Group: International Financial Holding FIBO Group (Financial Intermarket Brokerage
Online Group) is one of the oldest players in marginal internet trading. The first company of
the holding was founded in 1998. FIBO Group is among top-20 global Forex brokers.
○ Long-established European company
○ Best trading conditions on the market (in the offshore division)
○ Several branches for different audiences
○ Regulated by FSC
○ Annual audits since 1998 for compliance
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Recommended Forex brokers
3. Tickmill: Tick Mill is an online Forex Broker with a proven track record of strong financial
results and stable growth. Tick Mill has put itself in an enviable position as a trusted market
leader and innovator.
○ Extremely secure broker
○ Good trading conditions on most liquid pairs
○ Not as good with cross pairs
○ Negative balance protection
○ Regulated by CySEC, FCA, FSA, FSCA
4. RannForex: small offshore broker, sometimes with the best trading conditions
5. XM: reputable broker with very good trading conditions at night
6. Pepperstone: good option for big lot sizes
7. MT.COOK: small, but capable broker for professionals
8. ThinkMarkets
9. AxiTrader
10. Oanda (the best choice available for US citizens)
You are welcome to select any broker from this provided list, or another of your choice. However, ensure that the
broker you choose offers favorable trading conditions. Please note that these suggestions are purely based on
our experience and is not and should not be considered as financial advice.
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Popular Forex brokers within clients
We recently run an anonymous poll on our private

client’s Telegram groups, with the question “What’s
your broker/s of preference for ValeryTrading
EAs?”
All the recommended brokers were placed as

options.
These were the results after almost 200 votes,

ordered by popularity:
1. IC Markets = 59%
2. Others = 24%
3. Pepperstone = 6%
4. Tickmill = 3%
5. FiboGroup = 2%
6. OANDA = 2%
7. XM = 2%
8. ThinkMarkets = 1%
9. RannForex = 0%
10. MT.COOK = 0%
As you can see, many clients trade with my

recommended brokers, and many prefer others that
fit their specific needs and wants.
If you have any doubts regarding your broker

selection, feel free to contact us at
support@valerytrading.com and we will help you out
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Forex Brokers account sizes
Another question we get a lot is regarding how

much clients should invest to trade with my
Expert Advisors.
Here’s an anonymous poll on our private client’s

Telegram groups, with the question “Total
trading account size (of all trading accounts
combined)”
These were the results after more than 200 votes,

ordered by total account size:
1. 0-5k = 27%
2. 5-10k = 16%
3. 10-25k = 14%
4. 25-50k = 12%
5. 50-100k = 12%
6. 100-500k = 11%
7. 500k-1m = 3%
8. +1m = 5%
These numbers might help you to decide how

much capital you should be investing to trade
with my Expert Advisors.
If you have any doubts regarding your account/s

size, feel free to contact us at
support@valerytrading.com and we will help you
out
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MetaTrader 4 vs MetaTrader 5
After selecting a broker that aligns with your preferences, you will need to open a MetaTrader 4 (MT4) or
MetaTrader 5 (MT5) account with them.
The choice between MT4 and MT5 doesn't significantly impact the trading algorithms used by the Expert
Advisors. All of my EAs are compatible with both platforms.
While there may be some internal differences between the platforms, as the developer, I have ensured that you
won't notice these variations.
Occasionally, there might be slight differences in quotes between MT4 and MT5, but these discrepancies are
typically small and random.
MT4 is more widely supported by brokers, and as a result, it tends to be the preferred choice for most traders.
However, MT5 offers a superior tester, which I recommend utilizing. I encourage you to test both platforms for
yourself and determine which one suits your needs best.
Something worth mentioning, is that when you get a license for any of my Expert Advisors through my website,
you will be able to use it both for MetaTrader 4 and 5 accounts, while if you get it through the MQL5
marketplace, you will be only able to use with with MetaTrader 4 or 5 accounts.
In case you want to make your own research and compare these platforms, here you have the links to their
official websites:
MetaTrader 4
MetaTrader 5
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LICENSES
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How licensing works
To be able to trade with Golden Pickaxe in your MetaTrader 4 or 5 platform, you will need to have an active
license.
When you open an account in a Forex broker, you receive a MetaTrader account number.
A license simply means that we allow your MetaTrader account number to trade with the Expert Advisor.
Without an active license, the EAs will display an “License error!” message in their graphical user interface, and it
will not be able to place trades in your account.
There are two ways to get a license to trade with Golden Pickaxe:
1. Free trials: You can test Golden Pickaxe for free, for a period of 14 days. By opting for a free trial, you’ll get
unlimited access to the EA and be able to trade with it in your demo or live account. You will not be
required to provide any payment details or make a commitment of any type.
1. Purchase: You can gain lifetime access to Golden Pickaxe Expert Advisor by purchasing a license through
my website or the MQL5 marketplace. Along with permanent access to the EA, you’ll receive free updates,
free access for 2 months to a ValeryVPS server, access to the Telegram private group, and many other
benefits.
In both cases, you’ll need to manage your licenses through the user dashboard on my website.
Therefore, your first step is to go to my user dashboard and register an account, which takes only a few minutes.
If you already have an account, then you can skip that step and go directly to the free trials/purchase sections.
Register in my user dashboard
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How to start your free trial
After registering in my user dashboard, you can start 14 days free trials for Golden Pickaxe, from the “Expert
Advisors” tab in your user dashboard.
You’ll get unlimited access to the EA for 14 days, and be able to trade with them in your demo or live account.
You will not be required to provide any payment details or make a commitment of any type.
Mind that you will need a MetaTrader 4 or 5 account number to start your trial, so in case you do not have one,
please head over to the “brokers” section of this guide.
Here is a step-by-step tutorial video on how to start your trial, in just a few minutes. You can follow the
instructions and get started within a few minutes:
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In case the step-by-step tutorial video is not enough for you, here you have a breakdown of all the steps you
need to take in order to start your free trial:
1. Your first step is to access your user dashboard sign-up page and create an account.
1. After you’ve created your account, log into it.
1. Once inside, you will land in the user dashboard “Expert Advisors” section, which looks like this:
Golden Pickaxe
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4. Next, head over to Golden Pickaxe’s AI box, choose within MetaTrader 4 or 5, and click on the ‘Start trial’
yellow button.
5. Enter your MetaTrader account number and click on the ‘Start Trial’ green button.
6. Your Expert Advisor box will ‘unblock’, displaying to you an image of the EA, as well as a ‘TRIAL: 14 Days Left’
label. That means your trial license is now active and available for 14 days. Each day this label will be updated,
and inform you how many days you have left in your trial.
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After starting your trial, you will receive an automated email confirmation from me:
Receiving this email means you are now officially allowed to trade with Golden Pickaxe, so we can move to the
next section of this guide: installation.
Please open this email to confirm that everything is working on your side. If you don’t see a message, check your
spam folder. It can sometimes end up there, depending on your spam filter settings
This will be the first email of many. For the duration of your free trial, I will be sending you valuable information on
how to get the best out of my Expert Advisors, so please make sure you read them. They can make the difference
between achieving success with the EAs or failing to do so.
Not only that, but I will be also sending you a few success stories of clients of mine using my EAs, so you can see
what's possible and fuel your motivation to achieve what they did.
If at any point you want to stop receiving these emails, just let me know and I will stop sending them immediately
to you.
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How to purchase licenses
Hopefully you after going through your free trial with Golden Pickaxe you decide you are ready to take the next
step to take your trading to the next level, by purchasing lifetime licenses for the EA.
By acquiring a permanent license of Golden Pickaxe, you’ll receive:
★ 10 MetaTrader 4 or 5 account activations

★ Lifetime license
★ Free updates
★ 2 months of ValeryVPS access (exclusive for website purchases)
★ Access to private Telegram group
★ 1 on 1 support from developer (Valeriia)
★ Remote desktop configuration
The price for Golden Pickaxe is incremental and slots are limited. That is because I want to keep the amount of
users low to be able to provide the best possible support to all of my clients, as well as working on constantly
improving the EAs and developing new ones.
By having prices which increase with the amount of clients that buy my EAs, I am able to keep the number of
clients limited and controlled. I would rather have less clients and be able to ensure them an excellent user
experience than having lots of them.
Hope you can understand.
Buy license on the website now
Buy MetaTrader 4 license on MQL5 now
Buy MetaTrader 5 license on MQL5 now
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100%, 30 day money back guarantee
If you are not completely satisfied with Golden Pickaxe, I offer a hassle-free refund policy. Your satisfaction is
my utmost priority.
I genuinely care about the results that each of my clients achieves, to the extent that I have been called
"obsessive" at times.
It’s no secret that this industry is filled with bad players with malicious intentions who make false claims about
their EAs, aiming to deceive unsuspecting individuals venturing into Forex trading. I’ve personally seen and
heard about thousands of them, so I understand where the skepticism comes from.
I have dedicated significant time (+10 years) and effort to perfecting my EAs, and I am confident that they can
help traders reach their goals and potentially even fulfill their dreams. The evidence lies in the results they
produce.
To demonstrate my confidence, in the highly unlikely event that you do not fall in love with my Expert Advisors, I
am prepared to promptly refund every penny you paid, without any questions or hesitations.
Not only that, but I am willing to extend this exceptional guarantee for a generous period of 30 days. Compared
to the standard 7-day guarantee offered by the MQL market and the absence of guarantees on most other EA
selling sites, this is an exceptional offer that showcases my commitment to your satisfaction.
It’s simple: either you are satisfied with your purchase, or you get 100% of your money back.
You have my word of honor,
Valeriia Mishchenko
Algorithmic software developer
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How to activate your licenses
Once you make a purchase for Golden Pickaxe, you can activate up to 10 MetaTrader 4 or 5 account numbers
from the “Licenses” tab in your user dashboard on the website.
You’ll get lifetime unlimited access to the EA, and be able to trade with them in your demo or live account. You
will not be required to make any recurring payments of any kind.
Mind that you will need a MetaTrader 4 or 5 account number to activate your licenses, so in case you do not have
one, please head over to the “brokers” section of this guide.
Here is a step-by-step tutorial video on how to activate your licenses, in just a few minutes. You can follow the
instructions and get started within a few minutes:
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In case the step-by-step tutorial video is not enough for you, here you
have a breakdown of all the steps you need to take in order to activate
your licenses:
1. Your first step is to access your user dashboard sign-up page

and create an account or log into it if you already have one.
You must use the same email address that you used when
buying the EA license, for the system to recognize your
purchase.
Once inside the user dashboard, you will find the dashboard
with a navigation menu to the left, and the ‘Expert Advisors’
tab will be selected by default.
If you head over to the Golden Pickaxe box, it should be

unblocked, displaying a small image of the EA on a MetaTrader
chart, as well as a ‘OWNED’ green box message.
This means the system successfully recognized your purchase,

and you can now proceed to activate your MetaTrader 4 or 5
licenses your EA
In case after your purchase you do not see your Expert Advisor
there, please contact us at support@valerytrading.com and we
will help you out.
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2. To activate your Golden Pickaxe license, simply choose within MetaTrader 4 or 5, head to the EA box, and click
on the “Activate License” button.
3. Next, enter your MetaTrader 4 or 5 account number and click on the “Submit” green button.
4. Once you do that, your license number will be visible and you will have one less available license. This means
your EA is now allowed to start placing trades on that MetaTrader 4 or 5 account.
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After activating your license, you will receive an automated email confirmation from me:
Receiving this email means you are now officially allowed to trade with my Expert Advisors, so we can move to
the next section of this guide: installation.
Please open this email to confirm that everything is working on your side. If you don’t see a message, check your
spam folder. It can sometimes end up there, depending on your spam filter settings
If you do not receive this email or have any issues with license activation, please contact us at
support@valerytrading.com and we will help you out.
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INSTALLATION
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How to install Golden Pickaxe
Once you’ve selected a broker and opened an account with them, you can proceed to install Golden Pickaxe in
order to start trading with it.
There are three different things you will need for that:
1. VPS (Virtual private server): A virtual machine offered as a service, that can be accessed remotely. I
strongly recommend you to install Golden Pickaxe on a VPS to ensure they will be able to run
continuously without interruptions, or needing to have your PC switched on all day long.
2. Trading platform (MetaTrader 4 or 5): The gateway platform that will connect your Forex broker and Golden
Pickaxe. You will be using MetaTrader 4 or 5, the most popular and complete platforms used for Forex
retail trading.
3. Expert Advisor files: These are Golden Pickaxe’s .EX4/.EX5 files that you will be loading in your
MetaTrader 4 or 5 platform, in order to trade with it in your account.
To make the installation process as simple and flexible as possible, you can choose two different options:
A. “Easy installation” (recommended): Where you get everything done for you, by simply accessing to a
ValeryVPS server, where you’ll find Golden Pickaxe already downloaded, installed & configured in all of the
main MetaTrader brokers, ready to go. Best for beginner/intermediate traders.
A. “Manual installation”: Where you download, install, and configure Golden Pickaxe by yourself, in your
preferred VPS or your own computer. Best for advanced/professional traders.
A. “MQL5 installation”: Where you download, install and configure Golden Pickaxe in your MQL5 VPS or own
PC, directly through the MQL5 marketplace platform. Best for existing MQL5 users.
It’s up to you which one to choose, and it will probably depend on how much experience you have with Expert
Advisors and MetaTrader platforms in general.
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“Easy installation”
The easy installation option gives you access to Golden Pickaxe in the most simple and fast way. Instead of
going through the process of downloading the EA, installing it on your MetaTrader 4 or 5 platform, and
configuring your platform to allow automated trading, you get everything done for you.
For a lot of people, the process I mentioned above is a bit too technical and requires expertise and efforts they
would prefer not to expend. If that’s the case, then the easy installation is perfect for you.
The way this is made possible is through ValeryVPS, which is a VPS (virtual private server) designed for optimal
results, customized with all of my Expert Advisors and configurations, and powered by the renowned company
ForexVPS.net.
ValeryVPS is ideal for you if you want to trade with Golden Pickaxe already installed & configured, ready to go
on a high-performance server, and located as near as possible to the leading Forex brokers.
Originally, ValeryVPS was only available to clients who bought my Expert Advisor licenses, but now it’s also
accessible for everybody who’s going through a free trial of any of my EAs. That means that you can try for free
Golden Pickaxe in a ValeryVPS server. If by the end of your trial you decide to buy your EA license, you’ll be able
to also keep your server without cost, for a period of 2 months.
After your 2 months free period, you can keep your ValeryVPS by moving to a paid plan, provided by
ForexVPS.net. While servers at ForexVPS.net are usually around $35-40 per month, we got a special deal for our
clients, and you’ll be able to get it for just $30 per month.
Therefore, please have that in mind when you choose within easy or manual installation. In both cases you’ll
need a VPS to run my Golden Pickaxe, but you might want to choose another VPS service which fits best your
wants and needs.
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“Easy installation”: tutorial video
Once you’ve licensed your account number for Golden Pickaxe, you can start trading automatically with it in your
MetaTrader 4 or 5 platforms.
To do so, your first step is to install the Golden Pickaxe in your MT4 or MT5 platform. Getting started with the
“easy installation” is very easy and takes only a few minutes.
In the following tutorial video, I will show you step-by-step instructions on how to do that:
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How to easily install Golden Pickaxe (recommended)
If you find the step-by-step tutorial video insufficient, here's a simplified guide on how to easily install Golden
Pickaxe, the easy way:
1. To begin, you'll need to obtain a ValeryVPS, which is a specialized Virtual Private Server (VPS) optimized
for peak Forex algo-trading performance. This VPS comes pre-configured with all my Expert Advisors and
settings, and it's powered by the reputable company ForexVPS.net.
Accessing a ValeryVPS is available to you in two ways:
a. Log in/register to the user dashboard on the website
a. Head over to the “VPS” section, by clicking on the menu to the left hand side of your dashboard
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c. Click the "Activate ValeryVPS" button. Please note that this button will only appear if you have purchased an
Expert Advisor license from the website and have not previously requested a VPS, or if you are in the midst of
your 14-day free trial and are requesting the VPS for the first time. A pop-up with instructions will then appear,
and you should click "Activate ValeryVPS" once more.
d. Review your email inbox, using the same email address you use to access your user dashboard. You will
receive an email from ForexVPS.net, which will include comprehensive details about your ValeryVPS as well as
your login credentials.
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e. Follow the instructions in the email and log in to your ValeryVPS.
d. Once inside your ValeryVPS, you will find different folders and access files:
1. Brokers: You'll find a list of recommended brokers for trading our Expert Advisors in both MetaTrader 4 and
MetaTrader 5 versions. All these trading platforms come pre-equipped with our Expert Advisors, ready for
immediate use. If your preferred broker isn't on the list, you have the option to download it to your
ValeryVPS or access it through the default MetaTrader 4 or 5 platforms, and add the custom URLs to your
terminal. Please refer to point e. of page 53 of this guide.
2. Expert Advisors: You'll find all the EAs available at ValeryTrading, including Golden Pickaxe. Each EA has its
dedicated subfolder containing .ex4/ex5 files, setup guide links, various trading set-files, and the
servers.txt file. Additionally, you'll discover newsevents.txt and auto-updaters for both the EAs and news
events. For more information on how to utilize these files, please refer to this resource.
3. Useful links: You'll find a collection of direct links for easy access to valuable resources such as MyFxBook
profiles, Telegram channels, profit calculators, user dashboards, setup guides, and more.
4. Support links: You will find direct links to both ValeryTrading support, for anything related to the Expert
Advisors and their configuration, and ForexVPS.net support, for anything related to your ValeryVPS in
itself.
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How to easily install my Expert Advisors (recommended)
e. Launch your preferred broker and log in to your MetaTrader account. If you cannot locate your broker in the
"Brokers" folder, you have the option to either download it to your ValeryVPS or access it through the standard
MetaTrader 4 or 5 platforms. If you have not yet created a broker account, please consult the "Brokers" section of
this guide and establish one before moving forward.
f. Once logged in, you can proceed to open a chart, drag Golden Pickaxe from the “Expert Advisors” folder in the
navigator to the chart, configure the EA according to your wants/needs and start auto-trading.
- To ensure that the EA functions in your account, you'll require a trial or permanent license. If you haven't
obtained one yet, please refer to the "Licenses" section of this guide and activate a license.
- For detailed instructions on setting up the EA and configuring its parameters once you're logged into your
account with an active license, please consult the "Setup" section of this guide.
- After successfully loading the EA into your trading chart and configuring your parameters, there's no
further action needed. You can close the remote desktop management window, and your ValeryVPS will
remain online, allowing the EA to trade automatically on your behalf without interruptions.
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“Manual installation”
The manual installation allows you to manually set up Golden Pickaxe in your own computer or any VPS of your
choice.
This method requires you to:

1. Run Golden Pickaxe in your own PC or VPS of choice
2. Download an install your broker’s MetaTrader 4 or 5 to your PC or VPS
3. Make some special configurations to your MetaTrader 4 or 5 platform to allow the EA to trade
4. Download Golden Pickaxe files from my website to your PC or VPS
5. Install the EA files in your MetaTrader 4 or 5 platform folder files
6. Load the EA in your MetaTrader 4 or 5 platform charts
As you can see, there are quite a few steps that need to be followed.
Manual installation is the most popular way of setting up Expert Advisors that are not purchased within the
MQL5 marketplace.
Most developers provide their EA’s files and leave it to the user to download and install them wherever they
prefer.
If you have experience dealing with Expert Advisors and MetaTrader, or want to install Golden Pickaxe in your
own PC or any VPS of your choice, then the manual installation is a good option for you.
If you do not have much experience, do not have a VPS of preference or want to save time and efforts, then the
“easy setup” is probably the best option for you.
Please mind that for both methods the Expert Advisor is exactly the same, and the results you get will not be
directly affected by any of them.
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“Manual installation”: tutorial video
Once you’ve licensed your account number Golden Pickaxe, you can start trading automatically with it in your
MetaTrader 4 or 5 platforms.
To do so, your first step is to install the EA in your MT4 or MT5 platform. Getting started with the “easy
installation” is very easy and takes only a few minutes.
In the following tutorial video, I will show you step-by-step instructions on how to do that:
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How to manually install Golden Pickaxe
In case the step-by-step tutorial video is not enough for you, here you have a breakdown of all the steps you
need to take in order to manually install Golden Pickaxe:
1. Your first step is to decide if you’re going to be running Golden Pickaxe in your own PC or in a VPS (virtual
private server). I strongly recommend you to run them in a VPS.
If you already have one, you can skip to the next page. In case you do not here are my recommendations:
As you do your own research, you will discover there are both free and paid VPS services.
Free VPS servers are not suitable for the operation of several terminals or for the full-fledged work of EA,
since they are severely limited in computing power and/or the amount of RAM. You can use these with
small testing or demo accounts, but I do not recommend using free VPS servers with big accounts.
Paid Windows VPS is the best solution. For 95% of all possible tasks VPS server with 2-4 cores, 4-8 gb
RAM and an SSD disk will be enough. On such a VPS, you can easily run 5-10 MT4/MT5 terminals.
It is important that your Windows VPS is close to your broker trading server. This minimizes the delay in
trading. Most broker trading servers are located in New York and London.
Based on my experience and knowledge, here are three accessible VPS providers that you can use to
run Golden Pickaxe without any problems:
a. Contabo
b. PowerVPS
c. Hyonix
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2. After sorting out your VPS, next step is to access your user dashboard sign-up page and create an account.
3. After you’ve created your account, log into it.
4. Once inside, you will land in the user dashboard “Expert Advisors” section. You can download there Golden
Pickaxe by clicking in the “Download” button in the EA box. A .zip file will be downloaded, containing all the
relevant files for you to install and set up the EA.
5. Extract the files into desktop or a folder of your choice.
GoldenPickaxe.zip Golden Pickaxe
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How to manually install my Expert Advisors
6. Next, head over to your MetaTrader 4 or 5 platform on your VPS and proceed to install the EA in the “Expert
Advisors” folder of your terminal.
To do so:
a. Click on “File” , in the top menu
a. Click on “Open Data Folder”
a. A folder will pop up, now click on “MQL5” > “Experts” > “Advisors”
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How to manually install my Expert Advisors
d. Drag the Golden Pickaxe .ex4/.ex5 files from your desktop or folder of choice to the “Advisors” folder
e. Head back to your MetaTrader terminal, and locate the Navigator to the left hand side of the screen. Once
there right click on the “Advisors folder”
f. Click on “Refresh”and maximize the “Advisors” folder
If everything was done correctly, you should see Golden Pickaxe now in the list, ready to be used.
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7. Once you have Golden Pickaxe in your Navigator, you will need to make some configuration changes to your
MetaTrader terminal: allow web requests and enable automated trading:
a. On your MetaTrader platform, head to the menu on the header and click on “Tools”, and then on “Options”
a. Head over to the “Expert Advisors” tab and click on it
a. Check the “allow algorithmic trading” box
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d. Check the “Allow WebRequest for listed URL:” box
e. Add the following URLS by clicking on the green “+” symbol and copy-pasting one by one :
https://ec.forexprostools.com
https://www.worldtimeserver.com
http://timesrv.online
http://valeryservice.com
http://valerytools.com
f. Click on the “OK” button and return to your MetaTrader terminal
IMPORTANT: All the URLs mentioned above are of critical importance for the correct functioning of Golden
Pickaxe. All my EAs use these URLs to manage licensing and economics news filtering. Failing to add them will
prevent Golden Pickaxe from working in your MetaTrader terminal, so make sure to do so.
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“MQL5 Marketplace installation”
The MQL5 marketplace installation allows you to download, install and set up Golden Pickaxe in your MQL5 VPS
or own computer after making a purchase on the MQL5 marketplace.
This method requires you to:

1. Create an account in the MQL5 marketplace
2. Purchase Golden Pickaxe through the MQL5 marketplace
3. Download Golden Pickaxe to your MetaTrader terminal on your MQL5 VPS or own pc
4. Activate Golden Pickaxe on your MetaTrader terminal on your MQL5 VPS or own pc
5. Make some special configurations to your MetaTrader platform to allow my EAs to trade
6. Load Golden Pickaxe to your MetaTrader platform charts
As you can see, there are quite a few steps that need to be followed.
An extensive guide on how to do all this can be found in this MQL5 article.
If you’re already a MQL5 marketplace user and prefer to keep your Expert Advisors within their platform, feel free
to do so.
For all the setup methods the Expert Advisors are exactly the same, and the results you get will not be directly
affected by any of them.
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VALERYVPS
53
What is ValeryVPS
As explained in the “installation” section of this guide, a VPS is strongly recommended to anyone trading with
Golden Pickaxe.
I offer a service of Forex trading Virtual Private Servers (VPS), designed for optimal results, customized with
Golden Pickaxe & all of my Expert Advisors, and powered by the renowned company ForexVPS.net, called
ValeryVPS.
ValeryVPS is perfect for you if you want to trade with my Expert Advisors already installed & configured, ready
to go on a high-performance server, and located as near as possible to the leading Forex brokers.
You can learn everything about it in this video:
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How to get ValeryVPS
There are two ways in which you can gain access to a ValeryVPS server:
1. By starting a free trial for any of Golden Pickaxe and installing it using the “Easy installation”.
Using the easy installation, you can get free access to a ValeryVPS for the duration of your free trial.
Therefore, you’ll get access to the server for a maximum of 14 days. If you want to activate your ValeryVPS server
when you’re halfway through your trial, you will get access to it for one week, until your trial ends.
Mind that you will only get access to a ValeryVPS server for your first Expert Advisor trial. That means if you
already got access to a server while on trial before, you will not be eligible to get it once again.
In order to keep your ValeryVPS, you will need to purchase an Expert Advisor license. If you buy any EA license
before your 14 days trial expire, you’ll get to keep your server for free, for a period of 2 months from the
moment of your purchase. If you do not buy any EA license before your trial period expires, the server will be
automatically terminated.
1. By buying a Golden Pickaxe license and activating your server through your user dashboard.
Once you purchase a Golden Pickaxe license, you can get free access to a ValeryVPS server for a period of 2
months.
Two weeks before your 2 months period ends, you’ll have the possibility to keep your server by moving to a paid
plan provided directly by ForexVPS.net at $30 per month, or simply terminate your server.
If you do not make a decision within those two weeks prior to your 2 months period end, your server will be
terminated automatically.
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How to activate your ValeryVPS
Once you purchase your Golden Pickaxe license, you can get free access to a ValeryVPS server for a period of 2
months.
Mind you will not get your server until you manually activate it, from your user dashboard.
Here’s a step-by-step tutorial video on how to activate your ValeryVPS:
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How to update your Expert Advisor/news events files
One of the advantages of having a ValeryVPS is that you can update automatically Golden Pickaxe or any Expert
Advisor in a few minutes, without having to download and installing any files.
Whenever there is an update to Golden Pickaxe or the newsevents.txt file used for back-testing, you can update
the files by following these steps:
1. Look for the “Expert Advisors” folder in your ValeryVPS desktop and open it.
Expert Advisors
2. Locate the auto-updater files:

a. “Update_EAs_from_Website.bat”: You can use this file to auto-update all the Expert
Advisors to their latest version.
b. “Update_NewsEvents_from_Website.bat”: You can use this file to auto-update the news
events file to their latest version.
3. Double click on any of those files, then press any key and wait for the script to run. Once the updates
are finished, you will see an “!!! DONE NOW !!!” success message, which means your files have been
updated successfully, and are now available in your MetaTrader terminals and ready to be used.
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How to renew/terminate ValeryVPS
After your free ValeryVPS 2 months period ends, you’ll need to decide if you want to keep your server by moving
to a ForexVPS.net paid plan, or to terminate the server.
Two weeks before your period ends, we’ll make a window available in the ValeryVPS section of your user
dashboard, where you’ll be able to make your decision. If you decide to keep it, you’ll start paying monthly
invoices of $30 to ForexVPS.net directly, and if you decide to terminate it, the server will be deleted.
Mind that not making a decision within the two weeks prior to your 2 months period expiration, will result in
server termination, so make sure to make your decision as soon as you can. We’ll notify you via email as well, to
make sure you do not miss it.
To decide if you want to renew/terminate your ValeryVPS, follow these steps:
1. Log in to your user dashboard
1. Head to the ValeryVPS section
1. Click on the “ValeryVPS renewal/termination” button
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How to renew/terminate ValeryVPS
4. Decide if you want to keep or terminate your server by checking the “I want to keep my server” or “I do not
want to keep my server” boxes
5. Confirm your decision by clicking on the “Confirm decision” button.
Based on your decision, your server will be kept online or terminated at the end of your 2 months period.
Remember that if you do not make a decision before your period ends, your server will be automatically
terminated.
If kept online, there will be no changes to your server, and you’ll be receiving invoices from ForexVPS.net the
first day of each month. You’ll have 4 days in total to pay for said invoices to avoid server suspension and 3 days
after that to avoid server termination.
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SET-UP
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How to setup Golden Pickaxe
After you’ve successfully installed Golden Pickaxe either through the “Easy”, “Manual” or “MQL5 marketplace”
methods, you’re ready to setup your EA on your MetaTrader charts and start trading with it.
1. Open a market chart, where you’ll be loading your Expert Advisor to analyze the price movements of the
currency pairs it is designed to trade.
a. On your MetaTrader terminal, head up to the menu below the header, and click on the “Create a new
chart” button
a. Select which currency pair you want to open a chart for and click on it. The charts you use will depend
on each Expert Advisor and its trading strategy. For Golden Pickaxe, we will use “XAUUSD”
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3. Select the timeframe for the chart by clicking in any of the available time frames in the top menu. As Golden
Pickaxe works for 1 minute time frame, I will set it for “M1” (1 minute)
4. Head over to the “Expert Advisors” menu in the Navigator, and drag your Golden Pickaxe into the chart.
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5. A window will pop up, with the Expert Advisor information under the “Common” tab and parameters
configuration under the “Inputs tab”, that you can modify to fit your wants and needs.
Golden Pickaxe has +50 configurable parameters that will directly affect how the EA trades in your accounts
and the results you get. You can find detailed information about each one of them later in this guides. The set of
parameters that load by default are the ones I recommend to anyone starting out with my Expert Advisors.
These are the same ones that I utilize on my official MyFxBook track records, so it’s a good idea to stick to them.
5. Once you’re done with modifying your parameters, loading a given trading set-file, or decide to stick with
default parameters, click on the “OK” button.
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How to setup the Expert Advisors
6. Return to your market chart and wait a few seconds for your Golden Pickaxe to load. If everything was set up
correctly, you should see a “Live trading” blue text message in your EA graphical interface, which indicates that
it has been successfully loaded and ready to start taking trades. At this point, there is no need for you to do
anything else
To verify that everything is set up correctly in case of MT 4, you can check if there is a smiley or a sad face next
to the EA name on the top hand-right side of your chart. A smiley face means everything is ok, and a sad face
means there is some configuration error.
In case you face any issues at this point, please contact us at support@valerytrading.com and we will be more
than happy to help you!
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How to fix the “License error!”
There is a possibility that when you load Golden Pickaxe into your chart, you see a “License error!” message
displayed in the EA graphical interface instead of the “Live trading” one.
That means your account number is not being recognized by the licensing server, and therefore not allowed to
be used to trade with my Expert Advisors.
In 95% of the cases, not placing the URLs on your MetaTrader platform is what causes the issue, so make sure
you verify that before anything.
Here you have a step-by-step tutorial on how to fix the “License error!” in just a few minutes:
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UPDATES
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How to update Golden Pickaxe
To ensure that Golden Pickaxe continues to perform at its best, I consistently update it, incorporating the latest
advancements in algorithmic trading and financial markets, as well as incorporating feedback and requests from
my valued clients.
When Golden Pickaxe receives an update, I strongly recommend that you also update it on your end. This can be
accomplished through three different methods:
1. If you followed the “Easy setup” in this guide and have your Golden Pickaxe EA installed in a ValeryVPS, you’ll
just need to run an auto-updater script, located in your VPS desktop. Detailed instructions can be found in p.59
of this guide.
2. If you followed the “Manual setup” and have Golden Pickaxe EA installed on your own PC or VPS of
preference, you’ll need to:
a. Re-download Golden Pickaxe from the “Expert Advisors” section in the user dashboard in
ValeryTrading’s website
b. Extract the updated .ex4/ex5 files and install them in your MetaTrader terminal data folder, as explained
in p.51 and p.52 of this guide
c. Refresh your MetaTrader terminal navigator and reload your Golden Pickaxe EA into your market charts
d. Ensure that the version of the Golden Pickaxe you are loading is the most up-to-date
3. If you bought Golden Pickaxe through the MQL5 market, you’ll need to do the update through the MQL5
platform directly. The process is pretty straightforward. You can check the “How do I update an app to the latest
version?” at the end of this article from MQL5.
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FTMO/PROP-FIRM
SET FILES
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What is a prop-firm & a prop-firm challenge
Proprietary trading firms, commonly known as prop firms, are specialized financial institutions that trade in
various markets such as stocks, bonds, commodities, and Forex using their own capital. These firms employ
traders to invest and generate profits, which complements their other activities like managing client portfolios
and providing investment services.
In recent years, online prop trading firms have become prominent. They differ from traditional prop firms in that
they provide traders with direct access to markets and the necessary capital, without acting as intermediaries.
This model places the onus on traders to be well-versed in market dynamics, risk management, and trading
strategies, as well as understanding their own trading psychology.
To support traders, prop firms offer resources like capital and demo accounts that simulate live market
conditions. When traders execute trades in these demo accounts, the firm replicates them in the actual market,
taking on the risk of profit or loss.
However, entering the world of prop trading is not straightforward. Aspiring traders must undergo a stringent
evaluation process, often referred to as a "challenge," and usually pay an upfront fee. This process is designed
to assess whether a trader has the necessary skills to trade responsibly and profitably, considering the
significant risk the prop firm assumes by providing its capital for trading.
The popularity of prop firm challenges has increased notably since the pandemic in 2020.
Firms like FTMO are known for these challenges, which offer traders the chance to trade with the firm's capital
and potentially earn higher profits.
The rigorous nature of these challenges ensures that only skilled traders are accepted, thereby reducing the
financial risk for the prop firms. This has led to a growing interest in prop firm challenges among those looking to
enter or advance in the trading industry.
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What are prop-firm challenges conditions?
In order to pass a prop-firm challenge and become a funded trader, certain conditions and rules must be
complied with:
Risk management: Prop traders must adhere to strict risk management rules to safeguard the firm's capital,
such as maximum daily and overall losses. If they violate these guidelines, their account may be closed. While
some prop trading firms allow traders to retake the challenge, others do not, so it is essential to carefully read
the terms and conditions before signing up.
Progression: Prop traders must adhere to a progression scheme. Those who demonstrate safe and effective
trading skills may have opportunities to move up the ranks and receive more trading capital. The timeframe and
criteria for progression differ across firms and industries. Some firms evaluate traders after three months, while
others establish progression targets at the outset.
Tradable assets: The range of tradable assets available to prop traders varies depending on the firm. Some firms
focus on Forex or stocks, allowing them to tailor their support and software to specific traders.
Traders can fail a prop firm challenge and lose their initial fee in several ways, with a possible retake depending
on the firm's policy:
● Maximum Drawdown: Firms set a loss limit, usually 4% to 10% of the initial balance. A higher limit might
increase the upfront cost.
● Maximum Daily Drawdown: Failure can occur if traders lose a set percentage in one day, often 5% of the
starting balance.
● Time Limit: Challenges may have deadlines, typically 30 to 180 days. Exceeding this time results in
disqualification.
● Profit Targets: Traders must hit profit targets, generally 5% to 10%, to pass.
Despite marketing claims, these challenges are not easy and have multiple failure points.
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Prop-firm challenges disclaimer
When considering the pursuit of a prop-firm challenge, it's crucial to approach with realistic expectations and a
clear understanding of the inherent risks. Despite the allure of becoming a funded trader and the potential for
significant profits, the reality is that the success rate in these challenges is low. The vast majority of
participants, unfortunately, do not succeed in meeting the stringent criteria set by prop firms.
It's important to acknowledge that prop firms, while offering an opportunity, also operate with a business-first
mentality. The statistical likelihood of passing a challenge is small. This is evidenced by data released by some of
the largest prop firms in the industry, revealing that the success rate is low. Most traders do not only fail to earn
profits but also struggle to recoup their initial fees. This harsh reality is often obscured by the appealing
marketing of prop firms, which highlights the potential for success without fully disclosing the odds against it.
Moreover, prop firms are acutely aware of the existence and capabilities of various Expert Advisors (EAs) which
have shown consistent performance on live accounts. To safeguard their interests, these firms have
implemented strict rules and parameters, particularly concerning automated trading. These restrictions are
designed to neutralize the advantages that EAs might provide, further complicating the challenge for traders
who rely on these tools.
In conclusion, while our Expert Advisors, equipped with custom trading set files, are designed to optimize
performance within the confines of prop-firm rules, they do not guarantee success.
The reality of prop-firm challenges is that they are very difficult to pass. This should not deter determined and
skilled traders from attempting these challenges, but it should prompt a careful and informed approach.
Understanding the high risk of failure is key to making a well-considered decision about whether to engage in a
prop-firm challenge.
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How to increase your chances of passing a prop-firm challenge
As the popularity of prop-firm challenges has surged, so too has the market for Expert Advisors promising
guaranteed success. However, these solutions are often ineffective.
The key issue with using popular EAs is that if too many traders employ the same strategy, prop firms can easily
identify and restrict these identical trades. It’s not just about the trades placed by the EAs, but how these trades
adapt to the stringent rules of prop firms, especially when used simultaneously by multiple traders.
The secret to succeeding in prop-firm challenges lies in understanding that no EA can assure victory. The rules
of prop-firm challenges are dynamic, constantly evolving to prevent exploitation. To enhance the chances of
passing a challenge with an EA, it needs built-in rules and parameters that align with the ever-changing
prop-firm guidelines.
This is where specialized trading set files come into play. These are designed to make our Expert Advisors
compatible with strict prop-firm rules to avoid being limited or flagged.
Custom set files offer several advantages:
● Adherence to prop-firm rules: The EA operates within the strict boundaries of the challenge, preventing
the account from getting restricted
● Unique trade placement: Randomization algorithms ensure that trades differ from other users, reducing
the risk of detection by prop firms
● Private trading set files: Access to private set files is granted exclusively to purchasers of these EAs,
offering a competitive edge.
In conclusion, while no Expert Advisor can guarantee success in prop-firm challenges, selecting one that offers
tailored, prop-firm-friendly features significantly increases the likelihood of passing these rigorous tests.
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How to get a custom prop-firm trading set file
With our Expert Advisors, you have the opportunity to request a custom-made prop-firm trading set file tailored
to your specific needs. Simply access your user dashboard and provide details like your preferred prop firm,
chosen Expert Advisor, account type, challenge type, maximum drawdown, profit target, and additional rules.
Our team will craft a set file based on your specifications and make it available for download directly from your
dashboard.
This personalized approach ensures that your trading strategy aligns perfectly with your objectives and the
unique requirements of your chosen prop firm. Please note, this service is a benefit offered only to our clients
who have purchased an Expert Advisor license, ensuring a dedicated and exclusive experience.
Here’s a step-by-step tutorial video on how to request your custom prop-firm set file:
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To obtain your customized prop-firm trading set file, please follow these steps:
1. Navigate to the "prop-firm set-files" section within your user dashboard. Note that this section is accessible
only if you have an active Expert Advisor license.
2. In the "Request a prop-firm trading set file" menu, complete all required fields and then click the “request set
file” button. The necessary information should be available on your prop-firm's website or in their documentation.
If you can't find specific details, we advise contacting their support team for clarification, or you can reach out to
us at support@valerytrading.com for assistance.
- Set file name

- Profit target
- Expert Advisor
- Prop-firm
- Objective
- Grid trading allowed (yes/no)
- New trading allowed (yes/no)
- Account leverage
- Account type
- Daily drawdown calculation mode
- Max daily drawdown
- Max total drawdown
- Daily drawdown reset time
- Trades should be closed on weekends (yes/no)
- Comments
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3. After your prop-firm set file is prepared, you can download it from your user dashboard. It will be located in the
“My prop-firm trading set files” section, adjacent to the “request a prop-firm trading set file” option. To download,
open the set file and select the “Download” button.
SET
FTMO-Waka-#1.set
Once you've downloaded the set file, you're all set to upload it into your prop-firm’s MetaTrader platform and
begin trading. This file is always available in your user dashboard for future access, and you have the option to
delete it whenever it's no longer needed.
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How to use a custom prop-firm trading set file
You are now prepared to integrate your trading set-file into your prop-firm's MetaTrader platform and start
trading. Here's how to proceed:
1. Head over to the “Expert Advisors” in the Navigator menu, and drag the Expert Advisor for which you got
the trading set file for into the chart. In this example, I will drag Waka Waka into the chart.
1. Navigate to the "Inputs" tab and click on the “Load” button. Then, choose your custom prop-firm trading set file
from the download folder and click “Open” to select it.
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How to use a custom prop-firm trading set file
3. After loading your custom prop-firm trading set file, the inputs for your Expert Advisor will automatically
adjust. Simply click on the “OK” button, wait for the Expert Advisor to appear on your chart, and then enable it to
start trading.
That's all there is to it!
Your Expert Advisor is now set up to automatically trade on your prop-firm account, tailored to your specific
needs.
Should you have any questions or concerns about custom prop-firms, don't hesitate to contact us at
support@valerytrading.com and we’ll be happy to help.
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GRID TRADING
SYSTEMS RISKS
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Money & risk management for grid trading systems
Because Golden Pickaxe operates as a grid trading system, it is crucial to prioritize effective money and risk
management to ensure its long-term sustainability.
To gain a comprehensive understanding of this critical aspect, I have prepared an in-depth exploration that
covers all the essential information.
I highly recommend reading this material carefully before engaging in trading with Golden Pickaxe or any other
grid trading system.
1. Money management:. The first thing I always start with is money management. Simply put, it’s how big the
lot size you want to open in relation to your deposit size. In Perceptrader AI, Waka Waka and Golden Pickaxe, it’s
regulated by the ‘Lot-sizing Method’ parameter and others related to it. In most cases, it’s enough to choose
one of the predefined risk levels from low to high in this parameter, and that’s it. That’s all money management
most people will need. You can see how Perceptrader AI performed with each risk level in the Golden Pickaxe:
Risk management section of this guide.
2. Risk management. To keep it short, that’s how the EA deals with drawdowns. In most cases, it’s enough to
use the simplest ‘Max Floating Drawdown %’ option. For example, if you set it to 30, the EA will close all trades in
case of reaching a 30% drawdown, securing the remaining 70% of the account. However, this parameter is
connected with money management. If you set too tight of a drawdown limitation with a high risk level, it’ll
frequently be triggered during normal work of the EA, interfering with its trading. E.g., it doesn’t make sense to
choose high risk and set the maximum drawdown at 5%. That’ll make you bump into this drawdown limitation
time and time again, ultimately meaning losses. I usually recommend setting this value above the maximum
drawdown seen in the tester.
If you can’t test the EA properly yourself, I have already compiled long-term test results in the Golden Pickaxe:
Risk management section of this guide, as mentioned previously.
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3. Default parameters: People frequently ask me what settings of the EA should they use. The answer is that I
use default settings and think they are the best in most cases. This sounds boring, but profitable professional
trading and investments are always boring. There’s a saying about that attributed to Warren Buffet: “Beware
the investment activity that produces applause; the great moves are usually greeted by yawns”. If you are
bored with trading and investments, it usually means you are on the right track.
There are plenty of variables in my EAs that change results significantly: from core parameters of the system
(how to choose an entry), to exit parameters (TP level) and grid settings (coefficients and grid spacing). What
some people don’t understand is that default values are not chosen randomly. They are a result of careful
market research aimed at identifying market reversal levels. Default parameters of the EA work together with
the aim of exploiting existing market reversals on the pairs it trades. If you change an entry level, TP value, or
grid setting, you might interfere with this logic.
For example - if you make the TP value larger, the EA will exit trades later, and the reversal level might not be
enough to close trades and get out of a trending movement. If you change grid coefficients to, let’s say, 1-1-1
(so that all orders have the same lot size), you will interfere with the trading logic, making it much more difficult
for the EA to get out of the grid. Of course, if you are a professional trader, you know it very well and may ignore
this recommendation. But if that’s the case, this whole post is just 2x2=4 for you, and you won’t find it
particularly useful. If you found something new or interesting in it, chances are, default parameters are better
for you.
4. Make sure your money management is in line with your deposit size and account leverage: By definition, one
can’t use high risks with a 1:30 account leverage. The same goes for $100 – it’s impossible to use low risks with
a small deposit size.
You can find historical values and deposit size recommendations at the same table mentioned before, in the
Golden Pickaxe: Risk management section of this guide.
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5. Make sure your VPS works 24/5: If the EA entered a position, then your VPS went offline for a day or two and
was not in the market to catch a reversal, it may bring losses to you. Make sure your VPS is stable and also put
the terminal in the startup folder of your system. In this case, if your VPS is restarted (which happens every
once in a while with any server), the terminal will get back online as soon as the server gets up and running.
If you do not have a VPS yet, I recommend you to check the “ValeryVPS” section of this guide.
6. Take it seriously and plan ahead: What you might not have understood when reading this information is that
each example I have outlined above is real. There were users of my EAs who used high risks with a tight
drawdown limitation at 5%, there were users who changed grid coefficients, some used the EA with a small
deposit and high risk on a 1:30 leverage account, and so on.
Each of these examples meant losses. Each of these rules meant someone lost real money.
There is a saying in the health and safety industry that “all safety regulations are written in blood”. It’s true, and
the same goes for the rules outlined in these few pages. Each of them is written with losses of traders.
It’s smart to take all of them into account and trade accordingly, with strict risk and money management in
place.
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PARAMETERS
82
Inputs
Once you load Golden Pickaxe on your chart, pop-up box will appear showing settings of your EA. Make sure
that all the settings and alerts are correct before clicking OK. A full list of settings is located in the next slides.
If your broker uses a suffix (e.g. XAUUSD.a) you should attach the EA to the chart with this suffix
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Golden Pickaxe: Risk management
When trading with a grid you do not usually experience realized losses, but you get floating drawdowns from
time to time. Significant ones are usually rare, but it all depends on risks you set.
You can set very high risks and lose the whole deposit in one go even on a small market movement or you can
use lower risks and survive even another 2007-2009 financial crisis without a scratch.
How to best deal with that? I usually recommend doing the following: Imagine the biggest floating drawdown
you can handle with the EA. Divide that by 2.
After that select risks level with which you did not have the historical drawdown exceeding this divided value.
Why should you divide the drawdown?
Any trading system will eventually surpass the historical drawdown.
Grid trading has a larger risks variability over time, so it needs this x2 margin to account for many things that
will happen in the future that we don’t know yet.
On the next page you can find two tables with Golden Pickaxe test results on high-quality tick data from
different sources.
Please check them carefully and decide which risk setting fits your wants and needs as a trader.
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Golden Pickaxe: Risk management
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Golden Pickaxe: MM & Risk settings
● Check for Instances of the EA - checks that only one instance of the EA is running at a time. If EA detects
other instances with the same UID, trading will be disabled
● Allow Opening a new Grid? - on/off opening of new grids. It does not affect the already open grids
● Allow Manual Trading Buttons - enable/disable manual trading buttons that allow you to manually open
an initial trade: the EA will pick up the manually opened trade and manage it as usual. The buttons are
affected by the following parameters: Symbols, Maximum Spread, and Maximum Symbols at a time
● Lot-sizing Method - select the lot sizing method according to the risk you want to take: Fixed Lots will
use fixed lot size from the "Fixed lot" parameter, Dynamic Lots will use 'Dynamic Lot' parameter, Deposit
load will calculate lots based on deposit load%, and 4 predefined presets will calculate risk automatically
for you
● Fixed Lot - fixed trading lot for the initial trade
● Dynamic Lot (Balance/Equity based) - balance/equity to be used per 0.01 lot
● Deposit Load % - % of the deposit that will be totally used to open the initial trade
● Fixed Initial Deposit? (Tester only) - lot size will be calculated based on the initial deposit; new profits will
not be taken into account
● Tester Withdrawal (Tester only) - the withdrawal will take place if the account equity exceeds the
specified value. For MT5 only
● Withdrawal Amount (Tester only) - amount to withdrawal. For MT5 only
● Rounding Method - allows you to choose the method of rounding fractional lots to calculate trading lot
sizes
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● Max Lot per Order - maximum size of a single orde
● Auto Split? - option allowing the EA to trade with any lot size/volume without limits. Most brokers have a
limit of 100 lots per order, so if the option is enabled, the EA will automatically split a large trading volume
(e.g. 10000 lots) into multiple smaller orders (not more than 100 lots per the child order). It is intended to
be used in tester to allow testing the EA on all the available history
● Maximum Spread, in pips - maximal allowed spread
● Maximum Slippage for a non-ECN acc, in pips - max allowed slippage
● Allow Hedging? - allow opening multi-directional trades on the same symbol
● Allow Trading on Holidays? - on/off Christmas/New Year trading filter
● Allow to Buy/Sell - on/off Buy/Sell trades
● Minimum Free Margin % [0-disabled] - if Free Margin% falls below the specified value, the EA will not
place new pending orders and will cancel already placed ones
● Hide TakeProfit - allows you to hide take profit
● Max Open Lots (Filter) - the EA will not send new initial orders if the volume of all positions opened by the
EA exceeds the specified value
● Max Floating Drawdown % - if current floating drawdown exceeds the specified % the EA will close open
positions
● Max Floating Drawdown in Money [0-disabled] - if current floating drawdown exceeds the specified value
in money the EA will close open positions
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● Max Daily Drawdown Limit % FTMO Rules - maximum daily drawdown limit, calculated according to the
FTMO rules. Non-trading operations (like withdrawals) during the day are not taken into account
● Max Daily Drawdown Limit in Money FTMO Rules [0-disabled] - maximum daily drawdown limit in MONEY,
calculated according to the FTMO rules. Non-trading operations (like withdrawals) during the day are not
taken into account
● Max Daily Drawdown Reset Hour FTMO Rules (Broker time) - hour to reset the max. daily drawdown with
the prop firm
● Max Drawdown Action - allows you to specify actions to be taken after the max. drawdown is reached (in
money or %):
○ 'Close trades & stop trading for 24h' - the EA will close all open trades/grids and will not open new
ones for 24 hours;
○ 'Close trades & stop trading until restart' - the EA will close all open trades/grids and will not open
new ones until the EA/MT restarts;
○ 'Prohibit opening new trades' - new grids will be prohibited as long as the floating drawdown is
above a specified value;
○ 'Prohibit opening new trades until restart' - new grids will be prohibited until the EA/MT restarts
● Max Drawdown Calculation - allows you to specify how the maximum drawdown is calculated:
○ 'The account' - takes into account all positions opened on the account, including trades opened
manually or by other EAs;
○ 'This strategy' - takes into account only positions opened by this EA
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● Handle Max Drawdown Events on Every Tick - enable/disable drawdown event handling on every tick
(instead of once a minute which is used by default, it may consume more CPU resources)
● Check Margin for all Grid Levels - if true, the EA will check if there is enough free margin to open all grid
levels at the same time. If not enough, the initial lot size will be reduced
● Check Bars for Errors - if true, the EA will check the relevance of historical data and bar opening time.
Turn it off if your broker uses non-standard bar opening time (for example hh:02, hh:17, hh:32, hh:47)
● Max Daily Drawdown Type FTMO - allows you to customize the daily drawdown calculation
● Do Nothing if During Rollover - set to true if you want to ignore max. drawdown checks during rollover
● Max Open Lots Adjusted For... - allows you to adjust Max Open Lots for balance or equity so that it will
grow proportionately
● Force Basket Closure once the Initial Order is Closed - option to force basket closure once the initial
order/trade is closed by TP or by manual intervention
● Max Floating Drawdown % for each Symbol, separated by comma - allows you to specify the max.
drawdown % separately for each symbol
● Remove StopLoss During Rollover - removes StopLoss for all orders at the specified rollover time
● Maximum Symbols at a time - maximal allowed number of symbols that can be opened at the same time
● Disable Trades on the Same Side of a Currency - this option disables the opening of new initial trades on
the same side of a currency
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Golden Pickaxe: Time settings
● Hour to Start Trading - hour to start trading (for initial orders only).
● Minutes to Start Trading - minutes to start trading (for initial orders only).
● Hour to Stop Trading - hour to stop trading (for initial orders only).
● Minutes to Stop Trading - minutes to stop trading (for initial orders only).
● Trade on Monday - enable/disable trading on Monday.
● Trade on Tuesday - enable/disable trading on Tuesday.
● Trade on Wednesday - enable/disable trading on Wednesday.
● Trade on Thursday - enable/disable trading on Thursday.
● Trade on Friday - enable/disable trading on Friday.
● Rollover Start Hour - rollover start hour.
● Rollover Start Minutes - rollover start minutes.
● Rollover End Hour - rollover end hour.
● Rollover End Minutes - rollover end minutes.
● Send Orders During Rollover - enable/disable sending orders (including grid trades) during rollover time.
● Remove TakeProfit During Rollover - removes TP for all orders at the specified rollover time. This option
helps to avoid closing trades via TP during bad trading conditions since slippage can turn a profitable
trade into a losing one.
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Golden Pickaxe: Strategy
● Percentage Pips Mode - enable/disable percentage pips mode. 1 percentage pip = 0.0001 * Current Price
● Daily ATR Period - period of the daily ATR indicator
● Price Channel Period - period of Donchian channels used to calculate the upper/lower levels.
● Price Channel Time Frame - allows you to set working TF for the Donchian channels.
● Channel Crossing – if true, then the EA opens trades only when the price crosses the upper/lower level
and does not use repeatedly broken levels
● Daily EMA Period [0-disabled] - period of the daily EMA indicator for calculating the medium-term trend
● Volatility Filter - value of the volatility filter that allows you to avoid risky trades during periods of high
volatility
● Cover Swaps - if true, the EA adjusts the TP to cover any possible loss due to the swap. Set it to false if
you want to deactivate this option
● Open Opposite Trade - if true, the EA will open an additional initial trade in the opposite direction as soon
as the initial order/trade is executed
● Hour to Close & Stop Trading on Friday [0-disabled] - possibility to stop the EA on Friday at a specified
hour
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Golden Pickaxe: Strategy
● Initial Delay for Portfolio Mode, ms - time delay, which will be set automatically based on the UID value.
This delay is necessary to ensure one set file recognizes the opened trades of another and skips the
trading signal. Please note that set files of the same EA must have a unique UID!
For example, if you run 2 set files on the same account and want to prevent the same pair from being
opened by both set files simultaneously, then I recommend setting as follows:
First set file: Portfolio Mode=true, UID=0
Second set file: Portfolio Mode=true, UID=1
● Consider PAI Orders (Portfolio only) - the EA will take into account open trades of Perceptrader AI in
portfolio mode.
● Consider WAKA Orders (Portfolio only) - the EA will take into account open trades of Waka Waka in
portfolio mode.
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Golden Pickaxe: Machine learning setup
● Enable Neural Network Filter – enable/disable filtering of trades using machine learning technology
based on Perceptron
● Use Built-in Perceptron Configuration – if true, the EA will use built-in Perceptron configuration. If false,
the EA will load the custom configuration file Perceptron_Config.txt located in the common directory for
all MT4/5 terminals: %USERPROFILE%\AppData\Roaming\MetaQuotes\Terminal\Common\Files. You can
also open it via MT terminal: File -> Open Data Folder -> Up to ‘Terminal’ -> Common\Files. The
configuration file containing the results of machine learning
● Min Probability of Profit % - minimal predicted probability that a trade will result in profit. If Perceptron
predicts a lower value, the trading signal will be ignored, and the INITIAL trade will be skipped
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Golden Pickaxe: Perceptron Training
● Perceptron Training Mode (Tester only) – if true, the EA will try to train Perceptron while backtesting and
save results in the external configuration file Perceptron_Config.txt located in the common directory for
all MT4/5 terminals
● Dataset Max Size - maximum dataset size for raw data. Try increasing the value if you get an overflow
error during training
● Neuron in Hidden Layer [0=no hidden layer] - number of neurons in the hidden layer. If zero, then no
hidden layer will be used. A very high value can reduce the learning speed and lead to over-training. The
value cannot be changed if Perceptron is trained!
● Training Algo - training algorithm:

○ – Levenberg–Marquardt algorithm (LMA or just LM), also known as the Damped least-squares
(DLS) method, is used to solve non-linear least squares problems.
○ – L-BFGS is an optimization algorithm in the family of quasi-Newton methods that approximates
the Broyden–Fletcher–Goldfarb–Shanno algorithm (BFGS) using a limited amount of computer
memory. It is a popular algorithm for parameter estimation in machine learning.
● Number of Restarts – max. number of restarts to find the global optimum.
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Golden Pickaxe: How to train Perceptron
1. Select a long backtest period. I recommend using at least 10 years. I also advise to put a small SL, for
example a value of 100 pips. This will increase the number of trades and training data size
2. Set Use Built-in Perceptron Configuration to false
3. Set Perceptron Training Mode (Tester only) to true and run backtest with a fixed lot
4. Watch the logs, when the training is over, you will see messages like this: 2022.11.22 10:24:42.767 Core
001 2012.12.31 23:59:59 GP ->: Buy(Sell) entries: Perceptron learning has been completed
successfully
The backtest result will not be good, but it doesn't matter. Training can take a long time!
5. Set Perceptron Training Mode (Tester only) to false and run backtest again. This backtest should be much
better
6. Set SL back to its value
If you want to use the custom training results on another computer, you need to move Perceptron_Config.txt
to it.
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Golden Pickaxe: Take profit settings
● TakeProfit for Initial Trade, in pips - take profit for the initial trade (if no grid trades opened)
● Weighted TakeProfit? - if true, TP decreases in proportion to the open volume of the grid levels (the Grid
TP is weighted by volume). This allows keeping the initial TP unchanged in money after adding new
averaging trades
● TakeProfit for Grid, pips (can also be 0/negat. for emergency) - take-profit for the grid (if at least one
averaging trade is open). Allows any value, including zero and negative. When set to 0 all TP are set to
breakeven
● Hide TakeProfit? - on/off take-profit hiding
● Do not adjust TP unless new grid level opened - if true, the EA will adjust TP of open positions only when
a new grid level is opened. The user can manually set their own TP, which will stay current until the EA
opens a new grid level
● TakeProfit #1/2/3 after this Level [0-disabled] - adjusts the TP once the specified Grid level is reached
● TakeProfit #1/2/3 after X bars [0-disabled] - adjusts the TP after reaching a specified number of bars
● TakeProfit #1/2/3 [can also be negat., 0-breakeven] - take profit for grid after reaching a specified
number of bars or grid level. Values can be positive, negative, or 0 – breakeven
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Golden Pickaxe: Stop loss settings
● TakeProfit for Initial Trade, in pips - take profit for the initial trade (if no grid trades opened)
● StopLoss for Grid, in pips (50000 pips if zero) - stop-loss for the initial/grid trades
● Hide StopLoss? - on/off stop-loss hiding
● Trailing SL Size, in pips [0-disabled] - trailing stop in pips based on the grid breakeven point (=weighted
average entry price of all orders including SWAPs and commissions)
● Trailing SL Start, in pips - number of pips in profit at which the trailing SL is activated
● Randomize Order/TP Levels - if enabled, the EA will randomly slightly change the TP/SL levels. This
option allows you to have a unique TP/SL
● Max Random Delay before sending Orders, sec [0-disabled] - maximum random delay in seconds before
sending an order. Values over 15 seconds are not recommended
● Allow sending SL along with an order (for a non-ECN acc.) - if true, then the EA will send SL along with
orders. If false, then SL will be set after the order is sent and executed
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Golden Pickaxe: Grid settings
● Trade Distance - min. step in pips between grid(averaging) trades
● Smart Distance? - auto- adjusts the trade distance depending on market volatility
● 2nd Trade Multiplier - multiplier for the 2nd trade
● 3rd-5th Trade Multiplier - multiplier for the 3rd-5th trades
● 6th- Trade Multiplier - multiplier for the 6th-.... trades
● Maximum Trades - max number of grid(averaging) trades
● Custom Multipliers sep. by comma (e.g. 2,4,8,12,18,27,41,61) - custom multipliers for each GRID step
separated by a comma, for example - 2,4,8,12,18,27,41,61. This parameter has a higher priority
● Grid Level to Start (1-initial trade) - allows you to skip a certain number of grid levels, trading will start
from the specified level. To calculate entries correctly, the EA opens "marker" orders at skipped levels
with a minimum lot size
● Keep Original Profit Level & Lot Size - when skipping grid level, the EA will keep profit target and lot sizes
from the original strategy. This can help boost performance
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Golden Pickaxe: News filter settings
● News Filter Enabled - on/off News Filter.
● Disable Trading on Bank Holidays - enable/disable trading on bank holidays according to the real-time
Economic Calendar (https://www.investing.com). This filter is currency-specific. For example, with it, EA
won't take trades on USD pairs during bank holidays in the USA. It also works in Strategy Tester.
● Disable Built-in News Filter Settings - disables the built-in news filter settings, allowing you to fine-tune
the news filter.
● Custom Events (separated by comma, disabled if empty) - custom rules allowing you to fine-tune the
news filter.
○ Format: Key[-Currency pair],Key[-Currency pair],.........,Key[-Currency pair]

■ Key – the currency of the news event or keyword in the news header. You can use multiple
currencies without a separator, for example, USDAUDGBP.
● If you specify a keyword, the letter case does not matter. For example, FOMC.
[-Currency pair] - optional parameter specifying which currency pair the rule applies
to. For example -EURUSD.
Example: USD,AUDGBP-GBPUSD-NZDUSD,CHFEUR-EURUSD,FOMC,Rate-AUDCAD
USD, - takes into account all news events for USD on all currency pairs
AUDGBP-GBPUSD-NZDUSD, - takes into account all news events for AUD and GBP on
GBPUSD and NZDUSD currency pairs
CHFEUR-EURUSD, - takes into account all news events for CHF and EUR on the
EURUSD currency pair
FOMC, - takes into account news events with the word (or part of the word) FOMC in
the header on all currency pairs
Rate-AUDCAD - takes into account news events with the word (or part of the word)
Rate in the header on AUDCAD currency pair
○ Each rule must be separated by a comma. if 'Disable Built-in News Filter Settings'=false, then the
custom rules are in addition to the built-in ones.
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Golden Pickaxe: News filter settings
● Medium Impact News - enable/disable news events with medium impact (2 stars news).
● Low Impact News - enable/disable news events with low impact (1 star news).
● Speaks - if false, then the EA will not consider news events marked as Speeches/Speaks.
● Wait Minutes Before Event - suspend trading before the news.
● Wait Minutes After Event - suspend trading after the news.
● Show News List - displays a list of upcoming news events to the right of the info panel.
● News List Refresh Rate - news events list update frequency (selection from the drop-down list).
● Increase Take Profit, in pips [0-disabled] - specified number of pips to be added to TP during news
events.
● News Filter Action - the action EA takes in case of a news event:

- Prohibit opening of the initial trade - the news filter only prohibits opening new initial trades.
- Prohibit opening of all trades - the news filter prohibits both the initial trades and the averaging ones.
- Close all open trades - the EA will close all trades before the news is released.
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Golden Pickaxe: Stock market crash filter settings
● Stock Market Crash Filter Enabled - enable/disable the stock market crash filter.
● Stock Market Symbol - symbol name of the S&P500 stock index of your broker. It is usually called
something like US500 or SPX500 (press Ctrl+U to see all symbols).
● Filter Period - period of the stock market crash filter.
● Max Historical Volatility (HV), in % - max. annualized standard deviation of H1 returns (HV in %).
● Block Trading for the Entire Day - prohibits opening new trades throughout the day if HV hits the
specified level just once at any moment during the day.
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Golden Pickaxe: Additional settings
● Send Push Notifications after this Level [0-disabled] - sends a push notification if a trade above the
specified level is opened. You need to allow push notifications in the terminal settings and specify your
MetaQuotes ID.
● Basic Magic Number - this option allows you to change the basic magic number of all trades. Magic
numbers of trades/orders are calculated according to the following formula:
[Direction][BasicMagicNumber+UID][TradeNumber], where
- Direction - 1 for Buy, 2 for Sell
- TradeNumber - the number of trades from 00 to 99. 00 - for the initial trade, 01 - for the first
averaging trade, and so on.
For example, the resulting magic number can be: 27164000, 17164003.
● Trade Comment - comment for orders.
● UID (0...9) - unique EA instance number. Usually, no need to change it.
● Show Panel - on/off Info-panel.
● Show Stats - show a panel with statistics.
● Font Size (1...8) - reduce this value if you're having trouble with the info panel.
102
Golden Pickaxe: Backtest settings
● Disable Automatic GMT Detection - set it to 'true' to disable automatic GMT detection. You can use the
GMT Test/Manual' and 'DST Test/Manual' parameters to manually set the GMT offset in live trading.
● GMT Test/Manual - GMT offset in winter in Tester.
● DST Test/Manual - DST in Tester.
103
COMMUNITY
104
Telegram public channel
I strongly urge you to join my Telegram

announcement channel.
Why?
Because there, you will have access to

continuous updates and insights on my expert
advisors, market trends, and algorithmic trading
as a whole.
Staying informed with the latest and most

relevant information will empower you to make
informed decisions, allowing you to maximize
your profits while effectively managing your
risk.
Trust me, it can make a significant difference in

your trading journey.
To follow the channel, simply click on the

provided link and become a subscriber.
I recommend enabling notifications so that you

receive immediate alerts whenever a new post
is made.
Join my public Telegram channel
105
How to access to exclusive Telegram group
After purchasing your Golden Pickaxe license, you will be able

to join the exclusive private Telegram group.
Within this group, you will find a community of hundreds of

experienced users who have been trading with my Expert
Advisors for up to 3 years.
The groups are usually very active, with the members sharing
their experiences and expertise daily, learning from each other
and working as a team to achieve their trading goals.
Additionally, you’ll be able to find members of our team

dedicated to providing technical support to whoever may need
it.
Furthermore, I am involved in the groups, dedicated to

assisting everyone with their queries and providing timely
updates and relevant news.
Your satisfaction and success are my top priorities.
To join the Golden Pickaxe group, simply look for the

“Telegram” button inside the Expert Advisor in your user
dashboard, and click on it.
You’ll be automatically redirected to the group, with an invite

to join.
106
TESTIMONIALS
107
Testimonials & reviews
Since their launch in June 2021, my Expert Advisors

have garnered significant attention and have attracted
over 3,000 clients.
Together, we have formed what I believe to be the most

exceptional trading community worldwide.
The value and effectiveness of my Expert Advisors are

truly measured by the feedback and experiences shared
by my clients. Here are a few testimonials from some of
them:
108
109
Client testimonials
110
111
112
113
114
Client reviews
115
AFFILIATES
116
Affiliate program
In addition to earning profits through trading with

Golden Pickaxe, you also have the opportunity to
generate income by participating in my affiliate
program.
Since the launch of my website, you can now passively

earn by sharing information about my Expert Advisors
with others.
The affiliate program offers a base commission rate of

20%, with the potential to earn up to 50% in
commissions from the sales you refer. Once accepted
as a program partner, you will receive a unique referral
link.
Simply share this link online, and for each person who
visits the website and purchases an EA, you can earn
commissions of up to 50% of the sale value. The
referral link includes cookies that remain active for 90
days on the browsers of your referred individuals. This
means that if they request a trial and make a purchase
within 90 days, you will still receive commissions.
If you have any questions or concerns regarding our

affiliate program, please don't hesitate to reach out to
us at info@valerytrading.com. We are here to assist
you!
117
Affiliate program application
To join the affiliate program, you are required to submit an application, which will be thoroughly reviewed before
acceptance. I am specifically seeking qualified partners who align with my values.
Given the less-than-ideal reputation of the Forex EA industry, I am committed to avoiding aggressive promotion
by scammers who may falsely portray my expert advisors as a "holy grail" or a "get-rich-quick" solution. Such
misleading claims misrepresent the realities of trading.
Rest assured that I prioritize authenticity and transparency in promoting my expert advisors, focusing on their
genuine capabilities and potential benefits for traders.
118
FREQUENTLY ASKED
QUESTIONS (FAQ)
119
Frequently asked questions (FAQ)
Although we strive to make trading with Expert Advisors as straightforward as possible, we understand that it
can still be a challenging endeavor. Over the years, we have received numerous inquiries from individuals
interested in our EAs. To assist you, we have compiled a list of the most commonly asked questions along with
our typical responses. If your specific question is not included here, or if you require further assistance, please
don't hesitate to reach out to us at support@valerytrading.com, and we'll be delighted to provide you with the
help you need.
Q - How to fix the “Symbol Suffix” issue?

A - If your broker uses a suffix (e.g. EURUSD.a) you should change the ‘Symbol Suffix’ parameter to the suffix of
your broker. In this case, it should be changed to .a instead of a blank value used by default.
Q - I got a “License error!” problem. What should I do?

A - To solve this error, you need to do two things:
1. Make sure necessary URLs are allowed in the MetaTrader terminal. For your convenience, I have
attached the list of servers to add to this message
2. Make sure you correctly write your account number and whether you use MT4 or MT5 in the user
dashboard
(Please refer to the “How to fix the license error! message” section of this guide)
Q - I added the necessary URLs but still have the “License error!”. What could be the reason?
A - The most common reasons for the license error are:
1. Registering the MT 5 license while using the MT4 terminal, or vice versa. That's the most common error.
Please make sure you registered the correct terminal version.
2. Mistype in the account number. That's also common. You need to make sure the account number is
typed correctly in the valerytrading.com dashboard.
3. Mistype in the URL. That's also common, that's why I provide a list of servers to copy from.
4. No account is registered in the dashboard. That's easy - just add it there, and it's done.
5. Trying immediately after adding the account. In this case, you can reload the EA.
120
Q - I have an “Other instances found!” error. What is the problem?

A - You only need to install one copy of the EA to trade on all pairs listed in the 'Symbols' parameter. Please,
remove the excess copies, and the EA will work.
Q - I have the “MQL: trading not allowed!” error. What should I do?
A - To solve this problem, please, do the following:
1. Make sure the “AutoTrading” button is pressed
2. Click on the icon near the EA title in the upper right corner of the chart. There, go to the “Common” tab and
make sure the “Allow live trading” tick is active.
(Please refer to p. 52 of this guide)
Q - I can't run the EA. It says that the expected lot size is 0.00, and I get this error:
“NZDCAD: Can't calculate lot size, because no data received: ACCOUNT_LEVERAGE /
MODE_MARGINREQUIRED!” or “Failed to get MODE_MARGINREQUIRED.”
A - In most cases, this error means you've installed the EA on a symbol of your broker that's not tradable. Some
brokers use suffixes on their tradable symbols, such as EURUSD.a instead of EURUSD. In this case, you need to
install the EA on a chart of a tradable symbol (in this case, EURUSD.a) and also set the 'Symbol Suffix' parameter
to .a to solve this issue. You may be confused as to why brokers do that. In some cases, brokers need separate
trading pairs for indicative purposes (e.g., to calculate technical info, like your deposit load and margin level) and
another set of pairs to be traded. In this case, they do it by making two sets of pairs - indicative ones without the
suffix and tradable with it.
Q - What brokers can I work with? Can it be «<insert your broker name here>»?
A - The decision of which broker to trade with is one that has many factors to consider. Please refer to the
“Brokers” section of this guide, where you will find extensive information about brokers, how to choose one, and
my personal recommendations based on my own and my client’s experience.
121
Q - What type of account should I use - Standard, Raw Spread?

A - I recommend using ECN accounts with the lowest spread. If you use IC Markets, that’s a Raw Spread account.
If you use Pepperstone, that’s a Razor account. This type of account can be named differently, but the overall
execution is usually the best on the account with the lowest spread and with commissions, as opposed to
accounts that include everything in the spread.
Q - What is the difference between the MQL5 and valerytrading.com licenses?

A - You get the EA to work on 10 different accounts with the valerytrading.com purchase (these accounts can be
switched on the website if you need it) and 10 different PC/VPS (with no account limitation) in case of the MQL
Market purchase. You get both MT4 and MT5 on the valerytrading.com website, but you need to choose only one
with the MQL Market purchase. Depending on your mode of use, one or the other may fit you better.
Q - I have the error “M5 is needed” with the EA. What do I need to do?
A - This error means that you placed the EA that is optimized to trade on the M5 timeframe on the chart with
another timeframe - for example, H1. So, the bars of your chart contain hourly data each, while the EA needs the
chart with bars that contain 5-minute data. Just switch the chart timeframe, set the EA on it, and it should work.
Q - Should I use the AI filter with Perceptrader AI or not?

A - By default, the Perceptrader AI EA uses the neural net filter that’s set by the ‘Enable Neural Network Filter’
parameter. It was trained on hundreds of years’ worth of market data and makes results significantly better. I do
not recommend turning it off. There is also a filter based on ChatGPT/Bard that allows the EA to perform
additional market context analysis. While it can’t be tested yet, in most cases, it makes sense to turn it on for the
EA to navigate safely during strong trending market scenarios. However, it sometimes makes trading less
frequent. If you prioritize more frequent trading, you can turn it off.
122
Q - How many of your EAs can I run on ValeryVPS?
A - All of my EAs are optimized for performance. This means that code is efficient and does not usually load CPU.
So, it mostly depends on how many MetaTrader terminals can a VPS run. ValeryVPS can support up to 5-6
terminals at once, each with different EAs. That means you can run more than a dozen of my EAs on 5-6
different terminals.
Q - My broker leverage is limited to 1:30. Would it be beneficial to choose another broker with higher
leverage for the longer term?
A - If you plan on using higher than low risk settings with the Perceptrader AI EA, I recommend having a higher
than 1:30 leverage. With a 1:30 leverage, you can only use low risks. Otherwise, you may run out of margin one
day. After all, that's the reason for leverage restrictions - to make sure you can't use high risks in trading.
However, if you are satisfied with using low risks, you can use them with such leverage.
Q - I get a “Not enough historical data!” error. How can I solve it?
A - There may be a couple of reasons for it. Depending on the reason, there are several potential solutions. Here
are all of them:
1. Make sure you have at least these values in the MetaTrader settings. Having less might result in such
errors (see screenshot)
2. Make sure that all pairs you wish to trade are in the Market Watch.
3. If both are correct, click through all the timeframes of every pair this error happens on.
4. If that didn't help, reinstall the terminal.
123
Q - Is Perceptrader AI the best of your EAs for prop firms, or do you suggest buying another of your
products?
A - It depends on the exact conditions of the prop firm you mean. Some prop firms have specific requirements,
like the prohibition of grid trading, mandatory closure of all trades before weekends, very small leverage (like
1:10), and so on. Such conditions may or may not make PAI a preferred solution for the prop firm. If you can tell
me what their conditions are in detail, I can give you a specific answer.
Q- I tried downloading the latest EA version, but I still get an old one from the valerytrading.com website.
How can I solve it?
A - Sometimes, a web browser caches the old file, and you get it when trying to download the new one. To solve
this, please clear the cache of your browser or use the Incognito mode to download the new version.
Q - What should I do to make the EA FIFO-compatible?

A - The current version of the FIFO rule forbids two things: having orders of the same lot size and having orders
in opposite directions. That's a bit simplified, but that's how it is. To have all orders of different lot sizes, you need
to set the '2nd Trader Multiplier' to something which will give you the lot size of the second trade that is not the
same as the first one. The value you need depends on the risks you use and your deposit size. If you use small
risks on a small deposit, you may need 1.5 or even 2 to change from 0.01 lot to 0.02. If you have a big deposit size,
even 1.1 will be enough to change, let's say, 0.1 to 0.11. To avoid orders in the opposite direction, you need to set
the 'Allow Hedging' setting to false. This way, you won't have FIFO violations.
Q - I would like to buy the EA from you. How many accounts can I use it on?
A - You get the EA to work on 10 different accounts with the valerytrading.com purchase (these accounts can be
switched on the website if you need it) and 10 different PC/VPS (with no account limitation) in case of the MQL
Market purchase. You get both MT 4 and MT 5 on the valerytrading.com website, but you need to choose one
with the MQL Market purchase.
124
Earnings & Risk Disclaimer
U.S. Government Required Disclaimer
Trading foreign exchange ("forex") on margin has large potential rewards but also carries a high level of risk. You must be aware of the risks and be
willing to accept them to invest in the foreign exchange ("forex") markets. Don't trade with money you can't afford to lose. No representation is being
made that any account will or is likely to achieve profits or losses similar to those discussed on this guide or valerytrading.com website. The past
performance of any trading system or methodology is not necessarily indicative of future results.
*CFTC RULE 4.41(b)(1)/NFA RULE 2-29 – SIMULATED OR HYPOTHETICAL PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE THE
RESULTS SHOWN IN AN ACTUAL PERFORMANCE RECORD, THESE RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, BECAUSE THESE TRADES
HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET
FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL 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 BEING SHOWN.
NO REPRESENTATION IS BEING MADE THAT ANY PERSON 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.
IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT
FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR
TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE
ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH
CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT
ACTUAL TRADING RESULTS.
Be warned that there is a possibility to lose real money if traded on a real money account, and the owners of valerytrading.com can NOT be held
accountable for any losses that may occur including from any potential software bugs/glitches or malfunctions.
Valerytrading.com and its owners assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy
or completeness of the information, text, graphics, links or other items contained within these materials. Valerytrading.com and its owners shall not be
liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result
from these materials.
We assume that you are legally permitted to purchase and use our products. Making sure that you are following the global and local laws and
legislations is your responsibility. We cannot be held responsible for any damages or lawsuit against you due to such regulations.
All information on this website or any software and or guide purchased from this website is for educational purposes only and is not intended to
provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in
losses as no trading system is guaranteed. You accept full responsibility for your actions, trades, profit, or loss, and agree to hold the owner of
valerytrading.com and any authorized distributors of this information harmless in any ways. All rights reserved. The use of this website and or its
contents constitutes acceptance of our disclaimer.
125

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Ver 2.

● Expert Advisors ● Updates

According to their trading strategies, EAs are usually classiﬁed within:

Golden Pickaxe is a mean-reversion grid trading system that uses

The EA has 5 predeﬁned set ﬁles, which are essentially 5 different

● Trading style: Grid

● Supported currency pairs: XAUUSD

● Not sensitive to slippages

● +1 year veriﬁed MyFxBook

● +1 year MQL5 live signal

● Low-potential trade ﬁltering with Perceptron-based

● Allows you to retrain neural network on your broker's

● Statistic panel with self diagnostic system and neural

● 5 risk management sets

● +20 years high-quality back-testing data

● Multi-currency pairs support

● Advanced news ﬁlter, Stock market cash ﬁlter, New year

● Auto GMT detection

● Need to run on VPS

● 14 days free trial, 30 days money-back guarantee

● 2 months free ValeryVPS

● Telegram private group

Or my verified Golden Pickaxe live signal on MQL5:

Golden Pickaxe back-testing data

We recently run an anonymous poll on our private

All the recommended brokers were placed as

These were the results after almost 200 votes,

As you can see, many clients trade with my

If you have any doubts regarding your broker

Another question we get a lot is regarding how

Here’s an anonymous poll on our private client’s

These were the results after more than 200 votes,

These numbers might help you to decide how

If you have any doubts regarding your account/s

Register in my user dashboard

1. After you’ve created your account, log into it.

By acquiring a permanent license of Golden Pickaxe, you’ll receive:

★ 10 MetaTrader 4 or 5 account activations

Hope you can understand.

Buy license on the website now

Buy MetaTrader 4 license on MQL5 now

Buy MetaTrader 5 license on MQL5 now

You have my word of honor,

1. Your ﬁrst step is to access your user dashboard sign-up page

If you head over to the Golden Pickaxe box, it should be

This means the system successfully recognized your purchase,

Accessing a ValeryVPS is available to you in two ways:

a. Log in/register to the user dashboard on the website

e. Follow the instructions in the email and log in to your ValeryVPS.

This method requires you to:

3. After you’ve created your account, log into it.

5. Extract the ﬁles into desktop or a folder of your choice.

GoldenPickaxe.zip Golden Pickaxe

a. Click on “File” , in the top menu

a. Click on “Open Data Folder”

f. Click on “Refresh”and maximize the “Advisors” folder

a. Head over to the “Expert Advisors” tab and click on it

a. Check the “allow algorithmic trading” box

d. Check the “Allow WebRequest for listed URL:” box

f. Click on the “OK” button and return to your MetaTrader terminal