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ALGOTRADINGNIGHTEA MT4 – Full Input Settings Analysis
AlgoTradingNightEA MT4 is an advanced Forex automated trading robot for MetaTrader 4 with extreme night trading when the market happens to be least volatile. It operates using precise accurate algorithms that accommodate robust risk management and effective money management features, thereby yielding proper long-term results. The EA is ideal for those who require stability and automation in Forex trading.
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GENERAL CONFIGURATION and RISKS
- Use High Risk: true – Enables high risk mode to let the EA trade with excess risk settings than usual.
- Magic Number: 25645 – Unique number to recognize this EA from various EAs in a single account.
- Show Info Panel: false – Disables info panel on screen to have uninterrupted view of the chart.
- Full Auto: false – Turns off auto-symbol selection. The user must manually set the EA for each currency pair.
SET LOT & CALCULATE EQUITY
- Use Balance for AutoLot: true – Automatically employs lot sizing with respect to the account balance.
- Use Percent of Balance/Equity: 100.0 – Applies 100% of account equity or balance to lot sizing. Note: This parameter is extremely risky with no effective stop-loss management.
- Lot Step AutoLot: 0.01 – Increases lot size by 0.01 for every $20 of account balance.
- Balance Step AutoLot: 20 – The EA will grow the lot by 0.01 every time the balance increases by $20.
- Fix Lot: 0.1 – In case AutoLot is disabled, the EA will use a 0.1 fixed lot per trade.
TRADING ORDER
- TakeProfit: 5.0 pips – Non-standard TP designed specifically for night scalping strategies.
- Max TakeProfit: 10.0 pips – Maximum take-profit of a trade that can be entered.
- StopLoss: 60.0 pips – Huge SL, 12 times bigger than TP, having a bad risk-to-reward ratio.
- Additional Check TP: true – It gives an additional confirmation step for the take-profit locking so that there is greater security in profit locking.
- Buy/Sell Limit Shift: 1.0 / 1.0 pips – Shifts limit orders slightly in to ensure the likelihood of filling.
- Split to X Orders: 2 – Splits each trade into 2 small trades to provide additional flexibility and partial fill control.
Key Takeaways
- Trading during low volatile times: EAs that trade at night-a time when the market is usually less volatile-can help in reducing risks.
- Probably losing trades are eliminated with the assistance of filters that eliminate probably losing trades and thereby improve the win/loss ratio.
- Easy to Use: Easy installation, intuitive interface, and within the budget of traders of all experience levels.