Pound Yen Trader MT4 v1.24 (Platform build 1476+)

🔢 Pound Yen Trader MT4 Settings Guide

Pound Yen Trader MT4 is an automated trading Expert Advisor designed for GBPJPY trading, with a configuration focused on position sizing, drawdown protection, trade limits, spread control, manual Stop Loss/Take Profit management, news-based risk filtering, and optional recovery/martingale-style parameters. The displayed settings provide traders with granular control over how trades are opened, how risk is calculated, when positions are closed, and how the EA manages its trading activity.

The configuration shown includes GBPJPY, Magic Number 31714, a fixed trading amount of 0.5 risk / 0.01 fixed lot, a 70.0 maximum drawdown, a 15-trade maximum, an 80.0 spread limit, and several configurable profit and recovery controls.

Pound Yen Trader MT4 Settings Panel

🔢 Pound Yen Trader MT4 Settings Explained

Basic EA Settings

🔹 pairs: GBPJPY — Defines GBPJPY as the currency pair traded by Pound Yen Trader MT4.

🔹 determine main magic number: 31714 — Sets the main Magic Number to 31714, allowing the EA to identify and manage its own trades.

🔹 comment: Pound Yen Trader — Sets the trade comment to Pound Yen Trader, making EA-generated positions easier to recognize in the MT4 terminal.

Lot & Risk Management Settings

🔹 determine lot calculation method: a fixed amount for trading — Configures the EA to use a fixed amount for trading as its lot-calculation method rather than dynamically calculating the lot size from a percentage-based risk model.

🔹 risk %: 0.5 — Sets the configured risk percentage parameter to 0.5. Its practical effect depends on the selected lot-calculation method.

🔹 fix lot value: 0.01 — Sets the fixed trading volume to 0.01 lots.

🔹 prevent auto risk adjustment: false — Disables the prevention of automatic risk adjustment, meaning automatic risk-adjustment functionality is not blocked by this parameter.

Drawdown Protection

🔹 maximum drawdown allowed: 70.0 — Sets the maximum permitted drawdown to 70.0 according to the EA’s internal drawdown calculation.

🔹 closing orders when drawdown is high: true — Enables automatic closing of orders when the configured drawdown threshold is reached or considered high by the EA.

Trade & Spread Controls

🔹 set maximum trades number: 15 — Limits the maximum number of trades to 15 according to the EA’s trade-management logic.

🔹 max spread before opening new order: 80.0 — Sets the maximum permitted spread before opening a new order to 80.0. New trades can be restricted when the spread exceeds this configured level.

Stop Loss & Take Profit Settings

🔹 determine manual stoploss point: -1 — Sets the manual Stop Loss point parameter to -1, which generally indicates that no specific manual Stop Loss point is configured or that the EA should use its alternative internal logic.

🔹 determine manual takeprofit point: -1 — Sets the manual Take Profit point parameter to -1, similarly indicating that a specific manual Take Profit point is not configured through this field.

News Filter Risk Control

🔹 employ high impact news filter for risk control: false — Disables the high-impact news filter for risk control.

🔹 employ medium impact news filter for risk control: false — Disables the medium-impact news filter for risk control.

🔹 employ low impact news filter for risk control: false — Disables the low-impact news filter for risk control.

Prop Firm & Daily Loss Settings

🔹 prop firm tp & sl adjustment: false — Disables the Prop Firm Take Profit and Stop Loss adjustment feature.

🔹 max daily loss in balance currency setting: 2000.0 — Sets the maximum daily loss threshold to 2000.0 in the account’s balance currency.

🔹 daily lost trades count restriction: 15 — Sets the maximum number of losing trades allowed under the daily-loss trade-count restriction to 15.

Stop Loss & Signal Distance Settings

🔹 force stoploss for all orders: false — Disables the forced Stop Loss requirement for all orders.

🔹 define method for signal distances: Using special indicator — Configures the EA to determine signal distances using a special indicator.

🔹 define tp method for signal orders: Determine TP from last order open — Configures Take Profit for signal orders to be determined from the last order open.

Recovery / Martingale Settings

🔹 define fixed points distance for martingale: 200 — Sets the fixed distance between martingale-style entries to 200 points.

🔹 choose atr period for martingale: 20 — Sets the ATR period used for martingale distance calculations to 20.

🔹 choose multiplier of atr for martingale: 1.0 — Sets the ATR multiplier to 1.0 when calculating the martingale-related distance.

Profit Target Settings

🔹 choose profit type: Refer to balance percentage as base — Configures the EA to use the balance percentage as the base for determining its profit target.

🔹 choose total profit (usd): 2 — Sets the total profit target to 2 USD.

🔹 choose total profit % of balance: 0.2 — Sets the total profit target to 0.2% of balance.

Friday Trading Control

🔹 hour to close all expert’s trades on friday(-1:off): -1 — Sets the Friday closing hour to -1, where the parameter explicitly indicates -1 = off. Therefore, the dedicated automatic Friday trade-closing function is disabled.

🔢 Key Configuration Highlights

🔹 Trading Pair: The EA is configured specifically for GBPJPY.

🔹 Magic Number: The main Magic Number is 31714, with the trade comment set to Pound Yen Trader.

🔹 Position Size: The selected lot calculation method is a fixed amount for trading, with fix lot value = 0.01.

🔹 Risk Parameter: The displayed risk % is 0.5, although the active lot-sizing method is fixed amount rather than a purely percentage-based model.

🔹 Drawdown Protection: Maximum allowed drawdown is 70.0, and automatic order closing when drawdown is high is enabled.

🔹 Trade Limit: The EA can manage up to 15 trades according to the displayed maximum-trades setting.

🔹 Spread Protection: New orders are restricted when the spread exceeds 80.0.

🔹 Manual SL/TP: Both manual Stop Loss and Take Profit point parameters are set to -1, indicating that specific manual point values are not configured through these fields.

🔹 News Filters: High-, medium-, and low-impact news risk filters are all set to false.

🔹 Daily Loss Protection: The maximum daily loss is configured at 2000.0 in account balance currency, while the daily losing-trade restriction is 15.

🔹 Recovery Distance: The fixed martingale distance is 200 points, with an ATR period of 20 and an ATR multiplier of 1.0.

🔹 Profit Target: The EA uses balance percentage as the profit-type base, with 2 USD and 0.2% configured as profit-target parameters.

🔹 Friday Closing: The Friday automatic closing parameter is -1, explicitly meaning the feature is off.

🔢 Conclusion

Pound Yen Trader MT4 provides a flexible configuration framework specifically designed for GBPJPY automated trading. Its settings cover the complete trading workflow, from position sizing and signal-distance calculation to drawdown protection, spread control, news filtering, recovery management, profit targets, and Friday trade management.

The displayed configuration uses a 0.01 fixed lot, 0.5 risk percentage, 70.0 maximum drawdown, and a 15-trade maximum, while new orders are protected by an 80.0 maximum spread. Drawdown-based order closing is enabled, but the three news-filter options are disabled.

The recovery section also deserves careful attention. The EA has a 200-point fixed martingale distance, 20 ATR period, and 1.0 ATR multiplier configured. These parameters can materially affect exposure if the EA’s recovery mechanism becomes active, so traders should test the behavior thoroughly under different GBPJPY market conditions.

For live trading, it is particularly important to understand how the EA interprets -1 for manual SL/TP, 70.0 maximum drawdown, 2000.0 daily loss, 15 losing trades, and the 200-point recovery distance. These values should be validated through backtesting and forward testing before being used with significant capital.

🔢 FAQs

❓ Which currency pair does Pound Yen Trader MT4 trade?

The displayed pairs setting is GBPJPY, so the EA is configured specifically for Pound/Yen trading.

❓ What is the fixed lot size of Pound Yen Trader MT4?

The selected lot calculation method is a fixed amount for trading, with fix lot value = 0.01, meaning the displayed fixed position size is 0.01 lots.

❓ What is the maximum drawdown setting?

The maximum drawdown allowed is set to 70.0, and closing orders when drawdown is high = true, enabling drawdown-based order closure.

❓ Does Pound Yen Trader MT4 use news filtering?

The EA provides high-, medium-, and low-impact news filters, but all three are currently disabled: false, false and false.

❓ Does Pound Yen Trader MT4 have a recovery or martingale system?

The configuration includes martingale-related parameters with a 200-point fixed distance, ATR period = 20, and ATR multiplier = 1.0. The exact activation conditions depend on the EA’s internal recovery logic and should be verified through testing.