Powerful Bober Lannister EA MT4: Complete Settings Guide
Powerful Bober Lannister EA MT4 is a night scalping Forex robot designed to trade during specific hours for maximum efficiency. This guide will help you understand and customize each parameter to match your trading style and risk tolerance. The EA generates consistent returns by employing a non-Martingale strategy during optimal night trading windows.
Detailed Analysis of Input Settings of Powerful Bober Lannister EA MT4
The EA’s parameters are organized into functional groups: trading direction, order management, position sizing, strategy configuration, time filtering, and risk management settings.
Trading Direction Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
Direction
Controls which direction the EA can trade
Both
Both, Buy, Sell
“Both” maximizes opportunities while limiting to one direction may reduce risk in trending markets
Order Management Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
OrderType
Defines how orders are executed
Market_modeled_ticks
Market_modeled_ticks, Limit
Market orders execute immediately with potential slippage; Limit orders may provide better entries but risk non-execution
MagicNumber
Unique identifier for the EA’s trades
777
Any unique number
Changing prevents conflicts with other EAs; keep consistent per pair/chart
Position Sizing Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
Lot
Determines lot calculation method
Percent
Fixed, Percent
Percent scales with balance, Fixed maintains consistent position size regardless of balance
Lot Percent
Percentage of balance used when Lot=Percent
20.0
1.0-10.0 for conservative approach
Higher values increase potential profit but also increase risk exposure
Fixed Lot
Exact lot size when Lot=Fixed
1.0
0.01-0.1 for $1,000-$10,000 accounts
Higher values create larger positions with increased profit potential and risk
Strategy Configuration Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
Range
Indicator period used for the scalping algorithm
100
50-150
Lower values make the EA more responsive to recent price action; higher values create more stable signals
Time Filter Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
TimeFilter
Enables/disables time-based trading restrictions
true
true, false
Disabling allows 24/7 trading but may expose to unfavorable market conditions
StartHour
Beginning hour of the trading window
22
21-23 (depends on broker server time)
Adjusting optimizes for specific night session characteristics
StartMinute
Beginning minute of the trading window
0
0-59
Fine-tunes the exact start time
StopHour
Ending hour of the trading window
23
0-5 (depends on broker server time)
Controls when EA stops opening new positions
StopMinute
Ending minute of the trading window
30
0-59
Fine-tunes the exact end time
Risk Management Parameters
Parameter Name
Description
Default Value
Range/Recommended Values
Impact
MaxDD
Maximum allowed drawdown percentage before closing positions
30
10-20 for more conservative approach
Lower values provide tighter risk control but may reduce profit potential
WatHours
Waiting period in hours after MaxDD is triggered
48
24-72
Longer periods provide more cooling-off time after losses
Friday
Enables/disables trading on Friday
true
true, false
Setting to false avoids weekend gap risk
Summary and Recommendations
Start with 5-10% Lot Percent rather than the default 20% to reduce initial risk exposure.
Best performance reported on EURCHF, GBPUSD, EURNZD, CHFJPY, and EURAUD pairs on M5 timeframe.
Confirm broker server time to ensure time filter settings align with intended night sessions.
Test with minimum deposit of $500 on an ECN/low-spread broker account.
Use a reliable VPS with low latency for consistent execution of night trades.
Consider disabling Friday trading to avoid weekend gap exposure.
Reduce MaxDD to 15-20% for more conservative risk management.
Verify that the broker allows scalping and has reasonable spreads during night hours.
Monitor initial performance closely before increasing lot sizes.
Adapt time settings to target specific quiet periods in your preferred session.
Important Risk Warning
Forex trading involves substantial risk of loss. Past performance of this EA does not guarantee future results. External factors including market conditions, broker execution, and spread widening can significantly affect performance. Users are solely responsible for proper installation, parameter configuration, and risk management. Always test thoroughly on a demo account before live trading. Neither the developer nor the distributor is responsible for any losses incurred.
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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