Gold Blue Print (Enhance Your Trading with our Powerful EA) – Scalping – 27 May 2023
Guidelines to install and set up this GoldBluePrint on MT4 platform:
News Filter Settings:
Open MT4 terminal, go to the “Tools” menu and select “Options” and then click Expert Advisors. ‘check’ Allow WebRequest for listed URL
Enter: https://nfs.faireconomy.media/ff_calendar_thisweek.xml as shown with the blue arrow on the image below
How To know if your News Events Filter is working:
When there is news events coming up, it will be shown at the right hand corner of the chat.
It it very important to check if the news filter is working after set up.
No News Events Around would show at the right hand bottom corner of the chat when there is no News
Note: this doesn’t mean that the news even is working, always check as shown above with news to know if it is working.
Close Winning = Click to Close Winning Trades
Close Losing = Click to Close Losing Trades
Buy Allowed = Click to Stop EA from taking Buy trades (NB: Then if “Buy Stopped” shows know that EA has stopped Buying.)
Sell Allowed = Click to Stop EA from taking Sell trades (NB: Then if “Sell stopped” shows know that EA has stopped Selling.)
Trade Allowed = Click to stop EA from trading AFTER profit is reached. (NB: Then if trade “Trade Paused” shows know that EA has completely stop working.)
Clear = Always Click “Clear” when you change the Parameters. So EA can recognize the new inputs.
Set the file to have a spread of 2 pips (22.2).
However, some brokers may have higher spreads, so it is recommended to adjust the spread to 4 pips (40) in those cases.
This adjustment is important because before news events, during high market volatility, or when there is low liquidity due to out-of-hours trading,
spreads can widen significantly. By increasing the spread setting, the EA (Expert Advisor) can avoid taking trades during periods of widened spreads.
Money Management is very vital for this EA. Note: This section is super important and mostly the only part that should be altered when setting up EA
How does this EA works to preserved Capital:
Always leave the MoneyManagement on: True
Reward Level: 44% Reward level is been set up on the above picture, these means EA would accumulate profit to 44% Reset itself before looking for more opportunities.
Initial Risk Money: This is the maximum amount EA could possibly loss. It is like a hard Stop Loss to protect Capital.
When you install the EA insect not more than 30% of you capital on the InitialRiskMoney, preferable 10% for long team investors.
WithdrawPartProfit%Made: This helps to control the level of risk exposed while securing some percentage of profit made.
From the picture above it set as 80%, meaning EA would save 80% of the profit made and then continue to trade with the 20% plus the InitialRiskMoney.
EA aim for Consistency and Longevity and it always good not to give EA 3 to 6months before you evaluate.
With most of the set file Losses are recoup in no time and EA tend to double every Initial Risk set minimum.
Disclaimer: Trading in financial markets involves risk, and past performance is not indicative of future results.
It is recommended to thoroughly research and evaluate the EA’s features and compatibility with your trading style before making a purchase.
Set Files: Attached. Please use the right Time Frame on the set file.
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