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POUND YEN TRADER MT4 – Full Input Settings Analysis
Pound Yen Trader is a high-end trading robot expertly designed to trade on one and only GBPJPY currency pair on the M15 chart. Based on more than 20 years of bulk-sized price history, our system is thoroughly designed and trained to detect and exploit very profitable trading patterns unique to this currency pair.
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Basic Information & Trading Setup
- Pairs: GBPJPY – EA set to trade currency pair GBPJPY.
- Main Magic Number: 64523 – A specific number to distinguish this EA’s trades from others.
- Comment: – No specific comment set for trades.
- Manual Stop Loss: -1 – Manual stop loss is disabled.
- Manual Take Profit: -1 – Manual take profit is disabled.
- Lot Calculation Method: Based on % of account balance – EA lot calculation based on balance-based risk.
- Risk %: 2.0% – 2% of the account balance is risked on every trade.
- Fixed Lot Value: 0.3 – A fixed lot size of 0.3 will be used for trading when not using percentage risk.
- Maximum Number of Trades: 28 – The EA can have a maximum of 28 trades open at any given time.
- Max Spread Before Opening Orders: 200.0 – The EA won’t open trades if the spread is above 200 points (20 pips).
- Allow Hedge: True – Allows both sell and buy positions to be open at the same time (hedging allowed).
Risk management and order limits
- TP & SL Auto Adjustment: Disabled – The EA will no longer automatically adjust Take Profit and Stop Loss levels.
- Maximum Daily Loss: $100 – The trading day will close if the loss reaches $100.
- Daily Losing Trades Cap: 5 – Utilize up to 5 losing trades per day.
- News Filter (High/Medium/Low Impact): Disabled – The EA does not filter orders by news impact.
- Auto Close on High Drawdown: Disabled – The EA will automatically not close trades in high drawdown.
- Maximum Drawdown Allowed: 80% – The EA will continue trading as long as account drawdown reaches 80%.
Trailing stop management
- Trailing Stop: Disabled – Trailing stop is disabled.
- Trailing Stop Method: Based on pips – The system would trail by pip distance (not ATR or custom logic).
- Trailing Start (in pips): 40 – If this setting is enabled, trailing would start when the trade is 40 pips in profit.
- Trailing Distance (in pips): 12 – The stop would trail the price by 12 pips.
- ATR Period for Trailing: 14 – Period to apply to compute ATR (not used in this setup).
- ATR Timeframe for Trailing: 1 Hour – ATR timeframe to apply when trailing ATR-based trailing (not applied here).
- ATR Trailing Multiplier: 1.2 – Extra multiplier when applying ATR-based trailing.
Martingale Mechanism
- Enable Martingale Mechanism: True – The EA uses the Martingale trading strategy.
- Martingale Distance Method: Based on ATR – The spacing of the Martingale orders uses the ATR indicator.
- Take-Profit Calculation for Martingale Orders: Average TP – The take-profit is calculated as the average price of all Martingale deals in the group.
- TP Distance Percentage (New vs Last Order): 650 – Presumably defines how far the take-profit of the last order is placed relative to previous ones (exact use unclear).
- Martingale Distance Multiplier: 2.0 – The distance of the Martingale orders is multiplied by 2 for every new trade.
- ATR Period for Martingale: 14 – ATR is calculated using a 14-period lookback.
- ATR Timeframe for Martingale: 1 Hour – The ATR is calculated on the 1-hour timeframe.
- Profit Type (USD) for Martingale: 2 – Possibly a method of defining profit target in USD (precise justification not quite certain).
- Total Profit Target (% of Balance): 0.5 – The Martingale cycle ends when the total profit is 0.5% of the account balance.