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GhostyFX EA MT4 Settings – Full Parameter Review & Expert Analysis

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GhostyFX EA MT4 Settings – Full Parameter Review & Expert Analysis 4

🧩 License & Core Trade Parameters

➡️ LicenseKey: 0

  • Indicates either a demo version, unlimited license, or broker-bound activation.
  • Does not affect trading logic directly.

➡️ Lots: 0.01

  • Fixed minimum lot size.
  • Very safe and suitable for small accounts, cent accounts, or forward testing.

➡️ Max_Spread: 40

  • Maximum allowed spread (in points) for trade execution.
  • Helps avoid entries during high spread conditions such as news or low liquidity periods.

➡️ Magic: 51412

  • Unique identifier for GhostyFX EA orders.
  • Prevents conflicts when running multiple EAs on the same MT4 account.

🧩 Averaging & Multiplier Settings

➡️ UseMultiplier: false

  • Lot multiplication (martingale or grid scaling) is disabled.
  • This significantly reduces drawdown and risk.

➡️ Multiplier: 1.0

  • Neutral multiplier value.
  • Confirms GhostyFX EA is operating in non-martingale, fixed-lot mode.

➡️ Risk Insight:

  • This configuration favors capital preservation over aggressive growth.

🧩 Trend Filter Settings

➡️ UseTrendFilter: false

  • EA does not rely on higher-timeframe or trend confirmation.
  • Trades are likely based on internal logic such as price action or mean-reversion.

➡️ TrendTimeframe: 15 Minutes

  • Preset timeframe for trend filtering if enabled in the future.
  • M15 is commonly used for short-term bias without over-filtering signals.

🧩 Auto Cut Loss Settings (Risk Protection)

➡️ EnableAutoCutLoss: true

  • Automatic equity or loss protection is enabled.
  • This is a critical safety feature.

➡️ AutoCutLossUSD: 20.0

  • The EA will stop trading or cut positions once a $20 loss threshold is reached.
  • Very conservative and ideal for small balance accounts.

➡️ Risk Assessment:

  • This setting strongly limits catastrophic drawdowns.

🧩 Trade Cooldown Settings

➡️ EnableTradeCooldown: true

  • Prevents overtrading by enforcing a pause between trades.

➡️ TradeCooldownMinutes: 1

  • Minimum 1-minute delay between trades.
  • Helps reduce rapid re-entries during volatile price movements.

🧩 Time & Day Trading Filters

➡️ Time Filter

UseTimeFilter: false

  • Time filtering logic exists but is currently disabled globally.

➡️ Day-by-Day Trading Schedule

GhostyFX EA is enabled to trade Monday through Friday, with identical trading windows:

DayEnabledTrading Time
Mondaytrue00:00 – 11:00
Tuesdaytrue00:00 – 11:00
Wednesdaytrue00:00 – 11:00
Thursdaytrue00:00 – 11:00
Fridaytrue00:00 – 11:00

Session Insight:

  • This window typically overlaps with the Asian session and early London open.
  • Avoids late-day volatility, news spikes, and low-liquidity conditions.

🧩 Overall Strategy Interpretation

Based on the configuration:

  • ❌ No martingale
  • ❌ No grid scaling
  • ✅ Strict spread control
  • ✅ Auto cut-loss protection
  • ✅ Controlled trading hours
  • ✅ Cooldown between trades

This indicates that GhostyFX EA is configured as a low-risk, conservative automated trading system, prioritizing consistency and drawdown control.


🧩 Final Conclusion

The GhostyFX EA settings shown in the image represent a highly conservative and risk-controlled trading configuration, ideal for traders who prioritize account safety over aggressive profit targets. With fixed lot sizing, disabled multipliers, strict auto cut-loss protection, and limited trading hours, this setup is particularly suitable for small accounts, beginners, and long-term stability strategies.

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