EA Settings and Configuration Information
On this part, I’ll present an in depth overview of all of the parameters of the EA and easy methods to set them for optimum efficiency. In case you are new to utilizing the EA or need to fine-tune the settings, this information will help you.
EA Parameters:
- EA_Name – This title seems within the commerce notes.
- Show_Info_Panel – Permits or disables the data panels displaying account knowledge and key settings.
- Stop_Loss & Take_Profit – Set the cease loss (SL) and take revenue (TP) in pips.
- Trailing_Stop – Permits or disables the trailing cease.
- Trailing_Stop_Start – Set the pip worth at which the trailing cease will begin working.
- Trailing_Stop_Distance – Set the pip distance at which the trailing cease will observe the value.
- Start_Time_Hour & Start_Time_Minute – The beginning time of the commerce, in hours and minutes.
- Spread_Filter – Permits or disables the unfold filter.
- Max_Spread – The utmost allowed unfold, past which no trades can be opened.
- Fixed_Lot – Set a set lot measurement (works provided that the auto lot perform is disabled).
- Use_Auto_Lot – Permits the auto lot perform, which calculates the danger as a share of the fairness.
- Risk_Percentage_Per_Trade – Set the danger per commerce as a share of the fairness.
- Recovery_Mode – Permits or disables the restoration mode.
- Lot_Multiplier_After_Loss – Multiplies the lot measurement by this worth after a loss.
- Reset_After_N_Losses – Resets the lot measurement after the required variety of consecutive losses.
- Reset_After_N_Profits – Resets the lot measurement after the required variety of consecutive wins.
- Trade_On_Monday – Permits or disables buying and selling on particular days of the week.
- Magic Quantity – The distinctive identifier for the EA. Helps make sure the EA solely manages its personal trades.
Find out how to Examine if the Dealer’s Server Time Matches the Default Settings:
- Proper-click on the Gold image within the Watchlist.
- Choose Specs.
- Scroll right down to the Buying and selling Hours part.
- Examine the market shut time. Whether it is 23:59, no adjustment is required.
- If, for instance, the market shut time is 20:59, set the Begin Time to twenty:00.
I’ve created an indicator that routinely determines the beneficial buying and selling time, and I’ve hooked up it right here:
Beneficial Danger Settings:
- Conservative: 2-3% danger per commerce.
- Aggressive: Max 10% danger per commerce (with out Restoration Mode).
My Settings:
- Excessive-Danger Account: 15% danger per commerce, all different settings are default.
- Medium-Danger Account: 3% danger per commerce with Restoration Mode enabled. On this mode, if a commerce ends in a loss, the following commerce will use lots measurement multiplied by 5 (solely as soon as) to recuperate the loss. This considerably will increase the danger: two consecutive shedding trades would end in a lack of roughly 3% + (3% × 5) = 18%. Nonetheless, the chance of two losses in a row may be very low based mostly on historic efficiency.
Prop Agency Settings:
Since every prop agency has its personal guidelines, make sure that the EA complies with these. If many customers use the identical technique, the account could also be banned, so some settings have to be minimally adjusted:
- EA Title (as seen within the feedback).
- Magic Quantity.
- Set the danger per commerce between 0.5% and three% to adjust to the prop agency’s every day drawdown restrict.
- SL and TP slight adjustment: In case you are utilizing a trailing cease, you possibly can alter the TP freely so long as it’s bigger than the trailing cease worth. You may also modify the trailing cease values by half or 1 pip.
- Commerce Time adjustment (±1-2 minutes). Be cautious, as these adjustments can have an effect on the outcomes.
- Some prop companies prohibit protecting trades open over the weekend. In such circumstances, buying and selling on Friday have to be disabled.
Particular Dealer Suggestion (for brokers that increase spreads at night time, e.g., XM):
If the unfold will increase at night time, disable the trailing cease as it might negatively affect efficiency. Set the TP to 26 pips, which has given good outcomes for me.
Regularly Requested Questions (FAQ)
Under you may discover a abstract of probably the most often requested questions in regards to the Golden Nights EA. This listing is up to date repeatedly.
Which period body ought to I exploit?
The EA works identically throughout all timeframes. It isn’t timeframe dependent.
Does it work on indices or different devices?
No. The EA is particularly optimized for gold. When you want to strive it on one thing else, you should backtest and optimize settings your self, and solely use it if outcomes are promising.
Can I commerce at completely different instances or open a number of trades per day?
No. Buying and selling at different instances could scale back profitability or end in losses. The EA is designed to open just one commerce per day, and solely one place at a time — to take care of danger management.
Why does it solely place Purchase orders?
The technique exploits typical value patterns earlier than the gold market closes, which often present an uptrend or consolidation. Lately, gold has been in a powerful bullish development, supported by financial and geopolitical components, and continues to be.
Is the swap hurting outcomes?
Sure, it has some impact, however most trades shut earlier than the market closes.
Ideas:
– Use a swap-free account
– Disable buying and selling on Wednesdays to keep away from 3x swap fees.
What about excessive nighttime spreads?
Some brokers improve unfold at market shut/open. Beneficial settings:
– Trailing Cease: OFF
– TP: 26 factors
This works effectively on brokers like XM.
Does the EA use martingale or grid?
No. Neither technique is used.
Nonetheless, there’s an non-obligatory “Restoration Mode” that will increase lot measurement after a loss. It’s totally customizable and will be disabled.
Why is the risk-reward ratio low?
True, the RR is low, however that is compensated by the excessive win price (~96%) in response to backtests. Lengthy-term outcomes stay worthwhile.
Can I alter SL/TP to enhance RR?
Not beneficial, as it could actually hurt efficiency and even trigger losses. When you insist, make sure that to backtest totally earlier than going reside.
Can I exploit this EA for prop agency challenges?
Theoretically sure, however every agency has completely different guidelines. No ensures in opposition to bans, particularly if many customers make use of the identical EA. At all times examine the agency’s situations first.
Beneficial Brokers and VPS for Utilizing the EA
I’d prefer to share my private expertise with the brokers I’ve been utilizing, which have been performing excellently with the EA. Each brokers supply swap-free accounts and have low charges, making them an excellent alternative for working the EA successfully.
XMGlobal for European Purchasers with buying and selling leverage 1:500
Moreover, for the most effective EA efficiency, a dependable VPS is essential. Whereas you need to use MetaTrader’s VPS service, I additionally advocate ForexVPS as a superb different. Listed below are some benefits of utilizing ForexVPS:
- Low Latency: Ensures quick execution instances, important for automated buying and selling.
- 24/7 Uptime: Your EA runs continuous with out interruptions.
- Quick Help: Fast response instances for troubleshooting or setup help.
- Specialised for Buying and selling: Optimized for working MetaTrader and different buying and selling platforms.
That mentioned, this EA ought to work effectively with different brokers too.
Understand that low spreads, good buyer assist, and swap-free accounts are important for maximizing the efficiency of your EA.
