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BOT TAKE EA MT4 – Full Input Settings Analysis
BOT TAKE EA is an Expert Advisor (EA) that was designed to auto-trade forex on MetaTrader 4. Individuals can automate their strategy, and each EA is designed to suit personal preference. It is especially useful for newbies, who may lack experience or technical knowledge in forex trading.
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Setting EA
- Order Type: BUY and SELL
→ EA will carry out Buy and Sell orders. - Invest More: false
→ Capital growth feature is disabled. - Invest Risk: 15.0
→ Risk as a percentage of trade size is 15% of equity. - Lot: 0.04
→ Predefined lot size per trade when risk-based lot sizing is disabled. - Use Smart StopLoss: true
→ Enables smart stop loss logic (EA’s in-house strategy based). - Take Profit: 1000
→ Take profit target (unit based on EA setup: pips or points). - Stop Loss: 50
→ Fixed stop loss of 50 (assuming pips or points). - Use Trailing: true
→ Trailing stop is enabled. - Trailing Stop: 20
→ Trailing is initiated after 20 pips profit. - Trailing Step: 10
→ Trailing stop in steps of 10 pips. - Use Break Even: true
→ Breakeven feature is enabled. - Breakeven Target PipsInp: 10
→ SL is shifted to breakeven if trade is 10 pips profit. - Breakeven Jump PipsInp: 5
⇒ SL shifted from entry to partial lock 5 pips. - Magic: 123456789
⇒ EA-special number dealt. - Slippage: 3
⇒ 3 pips slippage tolerance.
Trading hours
- Use Time: true
→ Enables time-based trading restrictions. - GMT Mode: 0
→ Employ GMT offset 0 (server default time). - Start Hour: 22
→ Initiates trading at 22:00. - Start Minute: 0
→ Initiates trading exactly at minute 00. - End Hour: 15
→ Initiates closing at 15:00. - End Minute: 0
→ Initiates closing exactly at minute 00.
Key Takeaways
- Indicator-Based Strategy: Utilizes specific indicator settings and combinations based on how the EA is programmed.
- Risk Management: Includes features like stop-loss and take-profit levels to limit losses and secure profits, with options to configure settings to the trader’s risk tolerance.
- Optimization: Allows traders to modify parameters in order to find the best parameters for their selected currency pairs and time frames.