EA Settings and Configuration Information
On this part, I’ll present an in depth overview of all of the parameters of the EA and how one can set them for optimum efficiency. In case you are new to utilizing the EA or wish to fine-tune the settings, this information will help you.
EA Parameters:
- EA_Name – This title seems within the commerce notes.
- Show_Info_Panel – Allows or disables the information panels displaying account knowledge and key settings.
- Stop_Loss & Take_Profit – Set the cease loss (SL) and take revenue (TP) in pips.
- Trailing_Stop – Allows 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 – Allows or disables the unfold filter.
- Max_Spread – The utmost allowed unfold, past which no trades will probably be opened.
- Fixed_Lot – Set a set lot measurement (works provided that the auto lot operate is disabled).
- Use_Auto_Lot – Allows the auto lot operate, which calculates the chance as a share of the fairness.
- Risk_Percentage_Per_Trade – Set the chance per commerce as a share of the fairness.
- Recovery_Mode – Allows 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 desired variety of consecutive losses.
- Reset_After_N_Profits – Resets the lot measurement after the desired variety of consecutive wins.
- Trade_On_Monday – Allows 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.
Verify if the Dealer’s Server Time Matches the Default Settings:
- Proper-click on the Gold image within the Watchlist.
- Choose Specs.
- Scroll all the way down to the Buying and selling Hours part.
- Verify 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 mechanically determines the really useful buying and selling time, and I’ve connected it right here:
Beneficial Threat Settings:
- Conservative: 2-3% threat per commerce.
- Aggressive: Max 10% threat per commerce (with out Restoration Mode).
My Settings:
- Excessive-Threat Account: 15% threat per commerce, all different settings are default.
- Medium-Threat Account: 3% threat per commerce with Restoration Mode enabled. On this mode, if a commerce ends in a loss, the subsequent commerce will use loads measurement multiplied by 5 (solely as soon as) to recuperate the loss. This considerably will increase the chance: two consecutive dropping trades would end in a lack of roughly 3% + (3% × 5) = 18%. Nevertheless, the chance of two losses in a row could be very low based mostly on historic efficiency.
Prop Agency Settings:
Since every prop agency has its personal guidelines, ensure that the EA complies with these. If many customers use the identical technique, the account could also be banned, so some settings should be minimally adjusted:
- EA Identify (as seen within the feedback).
- Magic Quantity.
- Set the chance per commerce between 0.5% and three% to adjust to the prop agency’s day by day drawdown restrict.
- SL and TP slight adjustment: In case you are utilizing a trailing cease, you’ll be able to regulate the TP freely so long as it’s bigger than the trailing cease worth. You may as well modify the trailing cease values by half or 1 pip.
- Commerce Time adjustment (±1-2 minutes). Be cautious, as these modifications can have an effect on the outcomes.
- Some prop companies prohibit retaining trades open over the weekend. In such instances, buying and selling on Friday have to be disabled.
Particular Dealer Suggestion (for brokers that elevate 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.
Incessantly Requested Questions (FAQ)
Beneath you will discover a abstract of essentially 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’s not time frame dependent.
Does it work on indices or different devices?
No. The EA is particularly optimized for gold. In the event you want to attempt 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 occasions or open a number of trades per day?
No. Buying and selling at different occasions might cut 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 keep up threat management.
Why does it solely place Purchase orders?
The technique exploits typical worth patterns earlier than the gold market closes, which often present an uptrend or consolidation. In recent times, gold has been in a robust 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.
Suggestions:
– Use a swap-free account
– Disable buying and selling on Wednesdays to keep away from 3x swap prices.
What about excessive nighttime spreads?
Some brokers improve unfold at market shut/open. Beneficial settings:
– Trailing Cease: OFF
– TP: 26 factors
This works nicely on brokers like XM.
Does the EA use martingale or grid?
No. Neither technique is used.
Nevertheless, there’s an non-compulsory “Restoration Mode” that will increase lot measurement after a loss. It’s absolutely customizable and might be disabled.
Why is the risk-reward ratio low?
True, the RR is low, however that is compensated by the excessive win fee (~96%) in accordance with backtests. Lengthy-term outcomes stay worthwhile.
Can I alter SL/TP to enhance RR?
Not really useful, as it will probably hurt efficiency and even trigger losses. In the event you insist, ensure that to backtest completely earlier than going stay.
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 verify 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 operating the EA successfully.
XMGlobal for European Purchasers with buying and selling leverage 1:500
Moreover, for the perfect EA efficiency, a dependable VPS is essential. Whereas you should utilize MetaTrader’s VPS service, I additionally advocate ForexVPS as a wonderful various. Listed here are some benefits of utilizing ForexVPS:
- Low Latency: Ensures quick execution occasions, vital for automated buying and selling.
- 24/7 Uptime: Your EA runs continuous with out interruptions.
- Quick Assist: Fast response occasions for troubleshooting or setup help.
- Specialised for Buying and selling: Optimized for operating MetaTrader and different buying and selling platforms.
That mentioned, this EA ought to work nicely with different brokers too.
Take into account that low spreads, good buyer assist, and swap-free accounts are important for maximizing the efficiency of your EA.
