Profitable 20 Pips Per Day Forex EA - Expert Advisor for MT4

Enhance your trading strategy with the "20-pips-per-day.mq4" Expert Advisor (EA), a powerful Forex robot designed for MT4. This EA is engineered to secure consistent gains by targeting a daily 20-pip profit, providing a reliable and automated solution for traders.

Tested on reputable platforms like LQDFX and FXOpen, this EA is compatible with various brokers, ensuring flexibility in your trading choices. Experience the efficiency and precision of algorithmic trading without the need for constant manual supervision.

Maximize your trading potential with this Forex EA, a valuable addition to any trader's toolkit. Download and deploy the "20-pips-per-day.mq4" EA to optimize your trading performance today.

Let's talk about this 20-pips-per-day.mq4 Forex EA.

First, this EA is designed to work with the GBP/JPY currency pair.

Now, let's get into how it works and how to set it up:

The EA has some settings you can adjust. These parameters determine how the EA will trade for you.

Let's go through each setting and explain what it does:

Take Profit (TakeProfit): This setting determines the desired profit level in pips. It means that when your trade makes a profit of the specified number of pips, the EA will automatically close the trade to secure that profit. For example, if you set this to 40 pips, it means you're aiming to make 40 pips of profit on each trade.
Stop Loss (StopLoss): Stop Loss is a crucial risk management tool. It sets the maximum amount of loss you're willing to tolerate. If the market moves against your trade and reaches the specified Stop Loss value, the EA will close the trade to limit your losses. In this EA, you can set it to 20 pips, meaning you won't lose more than 20 pips on each trade.
Stop and Reverse on Loss of (StopAndReverseOnLossOf): This setting is used for a specific strategy. If your trade reaches a loss of the specified value, which is set to 100 pips here, the EA will close that losing trade and open a new trade in the opposite direction. It's an attempt to recover from losses with a new trade.
Minimum to Continue (MinimumToContinue): This setting is essential for the EA's trading strategy. It looks at the daily price bars and checks if the price has moved a certain number of pips within a day. If it hasn't reached this "Minimum to Continue" value, the EA won't trade because it suggests that the market isn't showing a strong trend that day.
Lot Size (LotSize): The Lot Size determines the volume of your trade. In simpler terms, it's like deciding how many shares or contracts you want to buy or sell. A smaller Lot Size is less risky, but it also means smaller potential profits. In this EA, you can set it to 0.1, but you can adjust it based on your risk tolerance.
Slippage (Slippage): Slippage is the difference between the expected price of a trade and the actual price at which the trade is executed. It's set to 15 pips in this EA. Slippage is an important consideration because it can affect your trade's results in a fast-moving market.
Buy and Sell Comments (BuyComment and SellComment): These are just labels for the buy and sell orders that the EA places. They don't affect the trading strategy but can help you identify the purpose of each order.
Colors for Open Buy and Sell Orders (clOpenBuy and clOpenSell): These settings allow you to choose the colors for the labels of your buy and sell orders on your trading platform. It's a visual customization feature.

The EA's strategy is simple. It looks at the price movements in the GBP/JPY pair. It checks if the daily bar (a daily price chart) has moved a certain number of pips (MinimumToContinue) within a day. If it hasn't, the EA won't trade because it suggests that the market isn't trending strongly that day.

When the EA decides it's a good day to trade, it does two things:

It places a "buy" order: If the current price (Ask) is higher than the previous day's high price, it places a "buy" order to profit from a potential upward trend.
It places a "sell" order: If the current price (Bid) is lower than the previous day's low price, it places a "sell" order to profit from a potential downward trend.

Hedge Strategy: The EA includes a hedge strategy. If one of your orders (buy or sell) goes in the wrong direction and hits a Stop Loss, it will close that losing trade and open a new trade in the opposite direction. This is an attempt to recover from losses.
Order Size: You can also adjust the Lot Size, which determines how much you're trading with. A smaller lot size is less risky, but it also means smaller potential profits.
Risk Management: The EA is careful about managing risk. It calculates the Stop Loss based on the entry price, ensuring that you don't lose more than you're comfortable with.

In a nutshell, this EA tries to make 20 pips of profit per day by trading the GBP/JPY pair. It looks for strong trends, places buy and sell orders accordingly, and manages risk through Stop Loss and hedging.

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