Ultra Mode – User Guide

Step 1: Capital Management

Deciding what percentage of capital to allocate for your Ultra account is critical to your success. Ultra Mode is geared to generate a very high rate of return, however you must plan for the possibility of multiple account failures.
We recommend using the following formula to calculate the maximum drawdown to your investment capital.For example, if you allocate 10% of your investment capital for Ultra mode, it is entirely possible that you would experience a 30% drawdown of your entire investment capital (10% X 3 = 30% Maximum expected drawdown).
We recommend using no more than 15% of your entire investment capital when using Ultra Mode.

It is absolutely essential that you make withdrawals from your Ultra account frequently. The most convenient way to accomplish this is to open an account designated for your Ultra Mode profits and make internal transfers on a regular bases in order to protect your profits.

Step 2: Selecting a Broker

Below is a chart of recommended brokers for different levels of capital and various brokers.

$40-$3,160 (assuming a maximum trade size of 100 lots)

TradeFort (Cent), InstaForex (Cent) and ProfiForex (Cent)

$400-$31,600 (assuming a maximum trade size of 100 lots)

IBFX AU (Mini), InstaForex (Standard) and Lite Forex (Mini account)

$4,000-$316,000 (assuming a maximum trade size of 100 lots)

IC Markets, Pepperstone, FX Primus and Synergy FX

Step 3: Account Setup

Once your account is funded and you have added your account to the Forex Envy license manager you may proceed in setting up the following charts using the 30 minute time chart: EURUSD, GBPUSD , USDCAD, EURJPY, USDJPY, AUDNZD, EURGBP, EURCHF.

-Attach Forex Envy to each chart
-Select Ultra mode
-Assign each pair a unique magic number
-Set the Freeze Before News Minutes to a value of 720 (12 hours).

Your Forex Envy Ultra account should begin to trade.

Step 4: Managing open positions

Now that your account is up and running you will need to know how to keep your Ultra account generating profits. Ultra mode is designed for ranging market conditions. If the market is jittery and over reactive it is best to shut down Ultra mode until conditions normalize. The Sever News Filter is also a very important tool to utilize in order to avoid major news releases that could potentially stress your Ultra account and cause an account failure. The server news filter is set to TRUE by default so you will not need to make any changes to your account for this function to work.
If an event transpires that has not been programmed into our News Filter you can choose to activate the Freeze After TP function manually. Once the FATP is set to TRUE Forex Envy will attempt to close all trades for take profit. Once the news event passes you can reactivate Forex Envy by placing the FATP to FALSE.
The second option is the chicken out function. The Chicken Out function will close all trades for that particular chart immediately. Your positions will most likely close for a loss, however once the Chicken Out function has been activated your account will no longer be in jeopardy. The Chicken out function is also a good option if unexpected breaking news is released and you need to close all trades immediately. You can also use the Chicken Out function to close your trades if the News Filter was unable to close your trades before a news event. You may lose a small percentage of your account doing so, but you may safe your account from crashing.

Ultra Mode is designed to open a maximum of 10 levels, max baskets will occur even if you avoid all major news so learning how to manage them is critical.
When you have a max basket there are three options we recommend.

Option 1: Do Nothing

This is usually the best course of action, unless the market is in a strong trend and a retrace is not expected. Once the trade closes you will make a handsome profit so keeping your nerves in check and allowing Ultra to continue to trade normally is usually a wise decision.

Option 2: Chicken Out

If the market is trending strongly against your positions and you feel the likelihood of a retrace is remote then you should activate the Chicken Out function and save whatever equity you have left in your account, which is better than losing the entire account.

Option 3: Double Down

If you feel there is a good chance of a large retrace occurring, you may change the TP manually to match the Execution Point of the first trade in your basket. This will result in a massive profit if the BTP is achieved.
If you feel there is a good chance of a large retrace occurring, you may change the TP manually to match the Execution Point of the first trade in your basket. This will result in a massive profit if the BTP is achieved. In order to modify the TP of each trade in your basket you must change both TP and SL of the last trade placed (the largest trade in the basket) and wait for a few seconds for the TP and the SL values of the other trades in your basket to adjust. When doubling down you can choose to change the TP for the basket to a value other than the Execution Point of the first trade. You can place the BTP based on resistance and support levels below or above the first execution point if you feel it is wise to do so. Ultimately we are all chasing high returns on our investment. If you feel a strong retrace is likely feel free to move the basket take profit to a support or resistance level that is appropriate.

If you have any question regarding Ultra Mode feel free to contact our support or visit the Members Forum for the latest Ultra Discussion.

Happy trading everyone!

-Team Envy

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