Frequently Asked Questions
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Q. What is Forex ?
The foreign exchange market (Forex, FX, or currency market) is a worldwide decentralised over-the-counter financial market for the trading of currencies. The FX market is the largest and most liquid financial market in the world. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Daily turnover was reported to be over US $3.98 trillion in April 2010 by the Bank for International Settlements.
Q. What do I need to start trading Forex ?
A PC/laptop with a minimal hardware configuration.
A Stable internet connection.
Install Metatrader 4 trading platform.
Run the Killa Gorilla FX Master installation program - installation of the robot into the Metatrader 4 (MT4) platform will be done for you automatically after running the .exe file.
Q. Does my computer need to be on all the time to trade ?
Yes, absolutely. In order for Killa Gorilla FX Master to function correctly, three conditions must be met:
Your computer must be switched on.
MetaTrader 4 software is always open with Killa Gorilla FX Master loaded onto a chart with AutoTrading on.
You have a constant connection to the internet.
There is however, an alternative to using your own PC to run the software - many traders choose to run the robots on a VPS terminal.
Q. What is a VPS ?
VPS (Virtual Private Server) is a special type of server which is often located in a building somewhere in your city, your country, or somewhere else in the world.
It is basically a remote PC that you are accessing through another PC on the internet and you can control it as if you were sitting right in front of it, yet it could be thousands of miles away. This enables you to install Metatrader 4 and Killa Gorilla FX Master remotely from any PC with an internet connection. The benefits of using a VPS are:
Trade even if your power goes out
Trade at any time of day
Robust security – most VPS systems also come with the top security
Reduced slippage – this is one of the biggest advantages that you can have using a VPS. It's possible that a VPS can execute your trades much more quickly than your computer simply due to its location to the broker’s MT4 servers. The result is that you experience less of a delay and less slippage.
If you are interested in a good VPS service provider, check out these two:
IC Markets - IC Markets also offer a FREE VPS service when you open a live account.
CNS (Commercial Network Services)
Q. What is an Expert Advisor ?
An Expert Advisor (EA), also called a robot, is computer program that’s written in the MQ4 language, runs on the MetaTrader 4 trading platform and executes trades automatically using algorithms. EAs are used to render the trading process automatic allowing to exempt the trader from continuous watching the market. Many professional traders have a big amount of trading systems allowing them to work in different markets and under different conditions.
Q. What is MetaTrader 4 and where can I download it ?
Metaquotes MetaTrader 4 is a free trading platform built mainly for trading on the Foreign Exchange. You can download the latest version from most brokers' websites for free!
Q. Can I use Killa Gorilla FX Master with any broker ?
Not with the FREE version. To use Killa Gorilla FX Master, you will need to open a live account with one of our Recommended Brokers. We recommend FBS and IC Markets which has very low spreads and proudly offers ECN accounts. We have been using IC Markets ourselves for a number of years now, and would recommend their service to anyone. They are an honest broker, have excellent trading conditions, there are no problems with withdrawals, and their website is easy to navigate.
If you wish to use Killa Gorilla FX Master with a broker of your choice, you will need to purchase the PLATINUM version.
Q. What is the difference between an ECN & Retail broker ?
A retail forex company acts as the market maker for all your trades. They shade prices, widen spreads arbitrarily, and trade against you. They're basically modern day bucket shops. The advantages retail brokers provide are that you can open an account with very little money and they give you crazy leverage, but their fees are generally a lot higher and they are not really profitable for scalpers and High Frequency Trading (HFT) robots like Killa Gorilla FX Master.
An ECN is like an interbank broker. They don't trade against you so there is no need to manipulate the price. They consolidate bank quotes and show you the best bid and offers available. Spreads are tighter, but you have to pay commissions which still work out to be far better than the other costs and high spreads of a retail broker. When you make a trade with an ECN broker, they pass it through to interbank, so the counterparty is a real trader. Leverage is generally lower and minimum balances are higher.
For day traders and HFT robots, ECN brokers are better because it is so much easier for the retail guys to manipulate prices in the short term. Also, most ECNs allow you to trade between the bid and the ask, so you can scalp as it was originally done by floor traders.
Q. Should I use a demo or live account ?
It is highly recommended that you test Killa Gorilla FX Master on a demo account for as long as you need to. Even though the preset files that we provide you have been tested, there is no guarantee that you will see the same performance of the robot on your demo/live account. It's possible that you could test the robot with exactly the same settings with 2 different brokers and get varying results. There are so many factors that can cause differences in performance, such as broker trading environment, different slippage values, your distance from the broker's MT4 servers (latency), leverage, execution speeds, etc.
You should move to a live account when you are satisfied with the robot's performance and settings. You can choose to start with low-risk settings initally, then increase risk for greater profits when you feel ready.
Q. What settings should I use ?
Killa Gorilla FX Master is highly configurable, so there are literally millions of combinations of settings you can use! We will provide you with a number of settings files based on different levels of risk. Again, we encourage you to do your own forward testing using different settings to find what works best to satisfy your risk/reward appetite.
It is entirely up to you how much risk you want to take. Using a starting lot size of 0.01 is usually what we would recommend for most settings, as the lot sizes of trades will increase as the number of levels increase (pre-set to a certain number of levels set by you). It has the potential to be a reliable source of steady profit when using the right settings.
Q. What currency pairs can I trade ?
We recommend EURUSD pair, as this usually has the lowest spread of all currency pairs, and is probably the most traded of all pairs, therefore has high liquidity. However, this does not mean that you cannot back-test and forward test (using a demo account) on other pairs. Killa Gorilla FX Robot has a logic in-built that can be applied to any currency pair.
AUDUSD is also a good currency pair that we have tested with and had good results - we have found that the spread is usually a little more than the EURUSD, but doesn't have the same amount of ranging that the EURUSD has. Ideally, Killa Gorilla FX Robot likes a lot of movement within a certain price range. It doesn't tend to perform as well in trending markets. Trading times can be configured in the robot's settings - this is explained in greater detail in the Killa Gorilla FX Robot User Manual.
Q. How much money do I need to start trading ?
You can start with as little as $1,000 - $10,000 and you may see some good results with these amounts, but we recommend a minimum of $10,000 for all settings. Based on our thorough and extensive testing, our backtests have all been with a starting balance of $50,000 and tested for a minimum period of 12 months per test on the EURUSD and AUDUSD pairs. The results from every test we have conducted have rarely dropped more than $5,000 in equity from the starting balance. This is why we can confidently recommend a minimum of $10,000 starting balance.
Q. I have no experience with Forex Robots. Is it easy to use ?
It is expected that you already have some knowledge with the FX markets and using the Metatrader platform. Killa Gorilla FX Master itself is easy to use, so it's best to start practising on a demo account first before moving to a live account.
Once set up, you can start earning money within minutes of trading if you choose to. No need to be professional. Everyone can do it. It is completely hands free and the whole process is 100% automated.
Q. How can I install Killa Gorilla FX Master ? Is it easy ?
Yes it is very easy! Killa Gorilla FX Master is based on a new generation technology that allows you in just a few clicks to install, run and start earning money when you are ready to.
Just a few steps and you will be ready to use Killa Gorilla FX Master.
Q. How can I activate Killa Gorilla FX Master ?
Your licence of Killa Gorilla FX Master must be activated for your real and demo accounts through our website which is explained during the setup process. All instructions will be emailed to you.
Q. Can Killa Gorilla FX Master work while I'm away ?
Yes, Killa Gorilla FX Master can work 24 hours per day from the market opening on Monday to the market closing on Friday. You don't need to monitor your trades. The robot will do it for you. It will monitor the trades, open and close positions automatically.
Q. Can I trade myself when I use Killa Gorilla FX Master ?
You can, but it is best not to interfere with the trading of individual trades of the robot, unless you really need to. The robot controls and manages all open orders and if you intervene, then it can affect the operation of the baskets of orders and ultimately affect potential profits.
You can manually trade on the same account where Killa Gorilla is running, but your trades will not be controlled by the robot. You must manage these trades yourself.
Q. Do you offer free updates ?
Yes, we offer free version updates for the life of all our products for all active subscriptions (both free and paid). Our development team is constantly improving Killa Gorilla FX Master to make it more profitable, safer, and easier to use.
Q. How often does the robot open trades ?
Many robots on the market trade just 1-2 times per day, and some even 1-2 times per week, or less!
Killa Gorilla FX Master is classed as a High Frequency Trading (HFT) robot because of the number of trades it opens. It opens trades almost immediately from starting the robot and can open 100's of trades per day. In the quiet sessions when there is little activity, it may only open 1-5 trades per hour. It all depends on price movement and volatility. When the market is very active around market session opens and economic news events, the robot can go crazy, opening trades every second! It can be fun and exciting to watch!
Q. Is it possible to run more than one robot on a single account ?
Yes, it is possible to run Killa Gorilla FX Master on more than 1 chart on your MT4 platform. Just make sure you use unique Magic Numbers in your settings before starting to trade (more info about this can be found in the User Manual).
Please be aware that the risk/exposure of having more than 1 instance of Killa Gorilla FX Master running on your account is multiplied. Make sure you have adequate funds to cover this exposure. Our recommendation is to have $10,000 per robot instance running.
Example - If you want to run the robot on 2 different currency pairs/charts in the 1 account (ie. 2 instances of the robot running), then it is advisable to have a minimum of $20,000 starting balance).
It's also useful to know that the robot will not touch any existing open trades that it itself did not open, so it is possible for you to do some manual trading in the same account, if you wish to. It is however advisable to use a separate account for this.
Q. What timeframe is best to use with Killa Gorilla FX Master ?
It doesn't matter which timeframe you choose for the chart that you wish to run Killa Gorilla FX Master on. It is designed to work just the same on all timeframes and will have no impact on its performance.
Q. Do you provide customer support ?
Yes, we provide free online support via email and live chat. Please allow up to 24 hours for a response. In most cases, we will be able to respond to you sooner. If you have any questions, comments or suggestions about any of our products or website, please ask.
Q. Can I try Killa Gorilla FX Master for free?
Yes, absolutely! Killa Gorilla FX Master is free to use on demo and real accounts, however for real accounts, you must first open and fund a trading account with one of our Recommended Brokers. The robot has sophisticated built-in validation and activation technology, where every copy released is validated manually by us.
Q. I cannot open the user guide. What should I do?
The Killa Gorilla FX Master User Manual is in PDF format, so you will need a PDF reader to open and view the manual. You can install onto your PC/laptop/mobile a PDF reader application such as Adobe Acrobat Reader. It is free, you can download it from Adobe official web site at Adobe (https://www.adobe.com). Or you can view our online version.
Q. Can I use Killa Gorilla FX Master on a demo account until I feel
comfortable trading on a live account?
Yes, definitely, and highly recommended. You should use Killa Gorilla FX Master on a demo account for as long as you feel you need to, then you can switch between a demo and live trading at any time you wish.
Q. Should I turn off Killa Gorilla FX Master on weekends?
You don't need to do that, however, depending on your risk level, it may be advised to turn off the robot prior to the markets closing at the end of the Friday session, and restarting again after the open of the following Monday session. This is to avoid any of the large price movements often seen around these times each week. The market is closed on weekends and if kept running, the robot will simply sleep and not trade until the following Monday, where it will start trading again when the markets open.
Q. What will happen if I lose internet connectivity for a short time?
This will not greatly affect the operation of the robot as long as the internet is reconnected within a short period. It just means that the robot will not be able to place any new trades during this time. Open trades are already running with the broker and some may reach their Take Profit levels and close during this time, which is good. Once connectivity is detected again, it will continue operating as normal. You do not need to intervene at all.
Q. What will happen if my computer loses power or reboots?
There is no need to worry about that. The trades that are currently open will stay open unless they reach their Take Profit levels and close. No new trades will open at this time and the system will resume normal trading as soon as the power is restored. Just start your computer, open Metatrader (MT4) again and be sure that the grey AutoTrading button is turned on. It will continue trading where it left off.