Tired of bots that look amazing in screenshots but fall apart on live spreads? FX Rich City EA V2.01 for MT4 aims for the opposite—steady, rules-based execution that respects risk, avoids gimmicks like martingale, and focuses on momentum when the market actually has juice. If you want an EA you can configure, monitor, and gradually scale—without babysitting every tick—this deep-dive is for you.


We’ll cover what FX Rich City EA is built to do, the logic behind entries/exits, recommended settings, pairs/timeframes, and a practical install guide. You’ll also find complete metadata at the end so you can publish this blog right away… coz we both know time is money.


What Is FX Rich City EA V2.01 MT4? (Overview)



  1. Directional bias first – The EA checks for a trend or impulse, so entries align with momentum rather than fading it.

  2. Volatility filter – It assesses whether the market has enough movement to justify a trade, helping avoid dead or whipsaw conditions.

  3. Strict risk framing – Hard stops, configurable risk per trade, and optional equity guards keep losses contained.


It’s intentionally non-martingale and non-grid. That means each position is independent, has its own stop, and isn’t “rescued” by doubling down. It’s built for traders who want to keep things clean: defined entries, defined exits, and rules you can actually explain to yourself (and, if needed, to a prop firm).


Who it’s for:



  • Traders who prefer momentum-following logic over mean-reversion roulette.

  • Users who value risk control and prop-friendly settings.

  • People willing to forward-test, tweak, and scale sensibly—no magic pill claims here.


Key Features



  • No Martingale / No Grid: Every trade stands alone with a hard stop.

  • Momentum Confirmation: Trades only when directional bias aligns with recent price action.

  • Volatility Gate: ATR/range filter helps avoid dead sessions and chaotic spikes.

  • Broker-Aware Checks: Spread/slippage filters to side-step bad fills (especially around rollovers/news).

  • Configurable Risk: % risk per trade, daily loss guardrails, and max drawdown pause.

  • Partial TP + Trailing: Lock in early gains; let winners run when momentum persists.

  • Session Controls: Optionally disable around rollover or high-impact news windows.

  • Multi-Pair Capable: Majors, minors, and XAUUSD with pair-specific tuning.

  • Magic Number Isolation: Safe multi-chart usage without trade ID clashes.

  • Transparent Logs: Clear entries/exits so you can analyze and optimize.



How It Trades (Strategy Logic)



  1. Bias alignment: Short-term impulse agrees with higher-timeframe direction.

  2. Volatility threshold: ATR or session range must be above a minimum so the setup isn’t starved for movement.

  3. Execution sanity: Spread under your set limit; slippage within tolerance.

  4. Entry trigger: Price action confirmation (e.g., break + retest or impulse continuation) activates a market or pending order.

  5. Risk placement: Stop loss is placed immediately; size based on your risk %.

  6. Exits: Partial take-profit at a fixed R multiple; trailing stop follows if price trends.


Suggested Pairs & Timeframes


Below are common starting points—always demo first and adjust per your broker’s conditions:



  • Pairs: EURUSD, GBPUSD, USDJPY, AUDCAD, NZDCAD, plus XAUUSD (Gold) if spreads are competitive.

  • Timeframes: M15–H1. If you want fewer trades and potentially cleaner signals, go H1. For higher frequency, M15/M30 (but spreads/slippage matter more).


Tip: For gold, widen stops/filters and consider a slightly larger ATR multiplier—volatility can be wild.


Recommended Baseline Settings (Start Here, Then Tweak)



  • RiskPerTrade: 0.5%–1.0% (prop-friendly and psychologically manageable).

  • MaxOpenTrades: 1–2 (avoid over-exposure).

  • DailyMaxLoss (%): 3–5% (typical prop guardrail).

  • MaxDrawdownStop (%): 8–12% to pause trading if the day goes south.

  • ATRPeriod: 14; ATRMultiplierEntry: 1.2–1.6 (tune per pair).

  • SpreadFilter (points): Keep tight on majors; e.g., ≤ 20 points (≈2.0 pips on 5-digit quoting).

  • StopLoss (pips): 15–35 on majors; larger for XAUUSD.

  • TakeProfit: Partial at 1.0R–1.5R; trailing for the remainder using ATR or structure-based logic.

  • Trading Hours: Avoid rollover; optionally disable around high-impact news.

  • MagicNumber: Unique per chart/pair.


Environment:



  • Broker: ECN/Raw spread with solid execution.

  • VPS: Strongly recommended for low latency and 24/5 uptime.

  • Starting Capital: Many traders find $200–$500+ sensible for majors at conservative risk; follow your prop’s rules if using a funded account.


Risk Management That Matters



  1. RiskPerTrade caps per-position damage.

  2. DailyMaxLoss acts like a circuit breaker for the day.

  3. MaxDrawdownStop prevents a bad streak from spiraling.


Backtesting & Going Live (What to Expect)


Backtest smartly:



  • Use quality tick data if possible; model realistic spread + slippage.

  • Backtest 2–3+ years per pair to sample different market regimes.

  • Look for a staircase equity shape—steady climbs with plateaus, not vertical rockets.


Optimize carefully:



  • Adjust one cluster at a time (e.g., ATR/volatility gates; then SL/TP bands).

  • Avoid curve-fitting to one hot month. Re-check on out-of-sample periods.



Forward-test on demo:



  • Give it 2–4 weeks at least. Check trade frequency, average R, and drawdowns vs. backtest expectations.

  • Start with tiny risk; scale after consistency over several weeks.

  • Widening spreads, news slippage, and liquidity holes will degrade fills and may filter out otherwise valid trades. A better broker environment often improves results more than “secret settings.”


Installation & Setup (Step-by-Step)



  1. Download the FX Rich City EA V2.01 MT4 file.

  2. In MT4: File → Open Data Folder → MQL4 → Experts; paste the EA file.

  3. Restart MT4.

  4. Enable Algo Trading.

  5. Attach FX Rich City EA V2.01 to your chosen chart/timeframe.

  6. Load your preset or input the recommended baseline settings.

  7. Run on demo first; move to live once you’re comfortable.


FAQs


Does it use martingale or grid?
No, it’s strictly non-martingale and non-grid.


Best timeframe?
M15–H1. If you want fewer but potentially cleaner trades, pick H1.


Will this pass prop firms automatically?
No EA can guarantee that. The tool is prop-friendly if you configure risk properly, but outcomes depend on market regime and execution quality.


Can I run multiple pairs?
Yes; just use unique Magic Numbers and watch correlated risk. Don’t exceed your daily loss cap.


News trading?
You can pause around high-impact events. If you enable trading through news, test that mode thoroughly first.


Pros & Cons


Pros



  • Clean, momentum-aligned entries with real risk controls.

  • Broker-aware filters reduce bad fills.

  • Partial TP + trailing to capture runners.

  • Prop-friendly if configured sensibly.


Cons



  • Not a plug-and-pray system—you still need to test and tune.

  • Execution quality (spreads/slippage) matters a lot.

  • Market regime shifts may require periodic re-tuning.


Responsible Trading & Disclaimer


Trade what you understand, at risk levels you can sleep with. Past performance never guarantees future results. Always test on demo first, review logs, and keep backups of your presets. Nothing here is financial advice.


Call to Action


Ready to give it a proper test drive? Download FX Rich City EA V2.01 MT4, apply the baseline, forward-test for a few weeks, then scale slowly if the stats hold up. Simple plan. Steady hands. Let the edge compound.


Happy Trading