Forex EA Settings Guides

POSEIDON EA MT4: Complete Settings Guide

Posted on by Jason Chen
Table of Contents

POSEIDON EA MT4: Complete Settings Guide

POSEIDON EA MT4 is a specialized automated trading system designed for XAU/USD (GOLD) trading, using proprietary algorithms and cyclical analysis to identify market trends and define volatility bands. This guide helps you customize and optimize the parameters to match your trading preferences and risk tolerance. The EA employs a grid/averaging strategy with built-in risk management to capture profit opportunities in Gold markets.

You can find more details about the POSEIDON EA MT4 product here.

Detailed Analysis of Input Settings of POSEIDON EA MT4

Parameters are organized into functional groups for easier configuration: authentication, trade parameters, trailing stop settings, grid parameters, and various filters.

POSEIDON EA MT4 Inputs

Authentication and Identification

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
SerialKeyLicense key that activates the EANot visibleUser to defineRequired for EA operation
Magic Number of the EAUnique identifier for orders placed by this EA1001-999999Distinguishes EA orders from others

Core Trading Parameters

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
LotsFixed lot size for trading; can be set to use free margin calculation0.010.01-0.1 for $1000 account; 0 for automatic calculationHigher values increase both profit potential and risk
Take profit (points/ATR)Distance in points/ATR to set profit target for trades100.050-200 for XAU/USDHigher values may reduce win rate but increase average profit

Trailing Stop Configuration

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Trailing startMinimum profit in points/ATR before trailing stop activates0.0 (disabled)30-100 for XAU/USDHigher values ensure more profit is secured before trailing begins
Trailing stepHow frequently the trailing stop adjusts as price moves in favor0.05-20 for XAU/USDSmaller values track price more closely
Trailing distance from priceGap maintained between current price and trailing stop0.020-50 for XAU/USDSmaller values lock in more profit but may exit trades earlier

GRID/AVERAGING Parameters

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
StepDistance in points/ATR between grid trade entries200.0150-300 for XAU/USDSmaller values increase trade frequency and potential drawdown
Lot multiplierMultiplier for lot sizes of subsequent grid trades1.51.0-1.3 for safer approachHigher values increase recovery potential but significantly raise risk
Lot size multiplierBase multiplier applied to initial lot calculation1.01.0-1.2Higher values increase overall exposure
Multiplier for grid levelsAlternative control for grid position sizing1.51.0-1.3 for safer approachHigher values increase recovery potential but significantly raise risk

Filter Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Max spreadMaximum allowed spread for opening trades0 (disabled)5-20 for XAU/USDLower values ensure better entry prices but may reduce trade opportunities
Use Time FilterEnables time-based trading restrictionsfalsetrue/falseRestricts trading to specific hours
Start trading timeBeginning of allowed trading period01:00Set according to preferred trading sessionDefines when EA can start trading
End trading timeEnd of allowed trading period23:00Set according to preferred trading sessionDefines when EA must stop opening new trades
Minimum trade durationMinimum time in seconds a trade must remain open3030-300Higher values prevent very short-term trades
Daily TargetProfit target in dollars after which EA stops trading for the day0.0 (disabled)$5-20 per $1000 accountLower values reduce daily risk but limit profit potential

Trading Days Filter

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Trade On MondayEnables/disables trading on Mondaystruetrue/falseMay help avoid weekend gap volatility if disabled
Trade On TuesdayEnables/disables trading on Tuesdaystruetrue/falseConsider market conditions specific to this day
Trade On WednesdayEnables/disables trading on Wednesdaystruetrue/falseConsider market conditions specific to this day

Summary and Recommendations

  • Keep lot size conservative (0.01-0.02 per $1000) to manage risk with this grid strategy.
  • Specialized for XAU/USD (Gold) on M5/M1 timeframes only.
  • Consider reducing lot multiplier from default 1.5 to 1.2 or lower to minimize martingale-related risks.
  • Implement max spread filter (10-15 points) to avoid trading during volatile market conditions.
  • Ensure minimum account balance of $1000 or more for sufficient margin buffer.
  • Enable time filter to avoid low-liquidity periods if trading smaller accounts.
  • Test all parameter changes on demo accounts before implementing on live accounts.
  • Verify your broker’s point vs. pip definition for XAUUSD to ensure correct parameter settings.
  • Consider enabling daily targets for consistent, measured performance.
  • Disable trading on historically volatile days if necessary using the trading days filter.
  • Use VPS for reliable 24/7 operation of this grid-based strategy.

Important Risk Warning

Trading foreign exchange and using automated systems like POSEIDON EA MT4 carries substantial risk and may not be suitable for all investors. Past performance is not indicative of future results. Market conditions constantly change and can significantly affect EA performance. Users are fully responsible for proper installation, testing, and risk management. The grid/averaging strategy used by this EA can lead to increased drawdowns in trending markets. Always start with demo testing and small lot sizes when moving to live trading.

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Jason Chen

I'm Jason Chen, the founder of EaOnWay.com. With over 15 years in Forex trading and a background in Computer Science, I started EaOnWay to cut through the noise and hype. My goal is to give you clear, honest insights and practical, risk-aware education about Forex Expert Advisors, so you can trade with more confidence

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