Pound Yen Trader EA V1.24 MT4 – Trading Strategy, Requirements & Performance

This expert advisor (EA) Pound Yen Trader EA V1.24 MT4 is designed to trade the GBP/JPY currency pair on the MetaTrader 4 (MT4) platform. Below, we break down the key details, including minimum deposit, recommended timeframes, and the trading strategy it employs.

Key Specifications

 

Trading Strategy Breakdown

The Pound Yen Trader EA V1.24 uses a volatility-based breakout strategy combined with moving average confirmations to enter trades. Here’s how it works:

1. Entry Conditions

• Breakout Detection: The EA monitors price action for breakouts above/below key support/resistance levels.
• Moving Average Filter: Uses EMA (Exponential Moving Average) to confirm trend direction.
• Volatility Check: Avoids trading during low volatility (e.g., Tokyo session) and focuses on London & NY sessions.

2. Trade Management

• Stop Loss (SL): Automatically set based on recent price swings (ATR-based).
• Take Profit (TP): Uses a fixed ratio (1:1.5 or 1:2 R:R) depending on market conditions.
• Trailing Stop: Activates after a certain profit level to lock in gains.

3. Exit Strategy

• Time-Based Exit: If the trade doesn’t hit TP/SL within a set period, it may close early.
• News Filter (Optional): Can avoid trading during high-impact news events.

Best Practices for Running This EA

 Use a VPS – Ensures 24/5 uptime with minimal latency.
 Start with a Cent Account – Reduces risk while testing performance.
 Optimize Settings – Adjust SL/TP based on current market volatility.
 Avoid Overleveraging – GBP/JPY is highly volatile; stick to 1:100 leverage or lower.

Final Thoughts

The Pound Yen Trader EA V1.24 is optimized for fast-moving markets, making GBP/JPY an ideal pair. It performs best on M15 with proper risk management.

 Recommended for: Traders who understand volatility-based strategies and can handle moderate risk.
 Not Recommended for: Beginners without proper backtesting or risk control.