Full Configuration & Utilization Information
This guide explains configure and use the Monas Skilled Advisor (EA) on MetaTrader 5.
Every parameter is described primarily based on its operate, impression on buying and selling habits, and greatest utilization practices.
1. Timeframe
Goal
Defines the timeframe utilized by the EA to investigate market situations and execute trades.
Default
H2 (2 Hours)
Rationalization
- It is suggested to maintain the default H2 timeframe
- Timeframe impacts:
- Commerce frequency
- Sign sensitivity
- Technique stability
👉 Decrease timeframe = extra trades (extra aggressive)
👉 Larger timeframe = fewer trades (extra steady)
2. Commerce Feedback
Goal
Assigns a customized label to all trades opened by the EA.
Default
Monas
Advantages
- Simply determine EA trades
- Separate them from:
3. Handle Open Positions
Controls how the EA manages energetic and pending orders.
Pending Expiration (minutes, 0 = OFF)
Defines how lengthy a pending order stays energetic earlier than being deleted.
- Instance: 60 = order expires after 60 minutes
- 0 = no expiration
👉 Helpful to keep away from entries when market situations have modified.
Most Pending Orders (One Aspect)
Limits the variety of pending BUY or SELL orders on the identical time.
👉 Goal:
- Forestall overexposure
- Management danger throughout unstable situations
4. Lot Measurement Settings
Defines how commerce quantity is calculated.
Autolot Sort
a) Mounted Cash Measurement
Lot measurement is calculated primarily based on a set capital portion.
Instance:
- Stability: $1000
- Mounted Cash Measurement: $200
➡ Lot = (1000 / 200) × 0.01 = 0.05
👉 That means:
Each $200 will increase lot measurement by 0.01
✔ Scales with account progress
✔ Versatile and adaptive
b) Mounted Lot Measurement
Makes use of a continuing lot measurement (e.g., 0.01 per commerce)
✔ Easy and constant
❌ Doesn’t adapt to steadiness progress
c) Danger Per Commerce (%)
Defines danger as a proportion of account steadiness.
Default: 10%
👉 Extra skilled strategy:
- Constant danger publicity
- Higher capital administration
⚠️ Be aware: 10% is taken into account aggressive. Use rigorously.
Leverage Be aware
- Leverage 1:500 → use Mounted Cash Measurement = 100
- Decrease leverage → really useful 200 or increased
👉 Ensures correct margin and danger steadiness.
Most Heaps
Units the utmost allowed lot measurement.
👉 Goal:
- Forestall extreme commerce measurement
- Defend account from over-risk
5. Cease Loss & Take Revenue (SL/TP)
Controls how trades are exited.
JSS Sort
• Mounted SLTP
SL and TP are positioned instantly on pending orders
✔ Clear
✔ Appropriate for normal brokers
• Digital SLTP
SL and TP are hidden and managed internally by the EA
✔ Not seen to dealer
✔ Can scale back danger of cease looking
⚠️ Danger: If EA or VPS stops, safety is misplaced
• ECN SLTP
SL and TP are utilized after the commerce is executed
✔ Appropriate for ECN accounts
✔ Prevents execution errors
Cease Loss (pips)
Distance from entry worth to cease loss
👉 Defines most loss per commerce
Take Revenue (pips)
Distance from entry worth to take revenue
👉 Defines revenue goal and risk-reward ratio
6. Trailing Cease
Routinely locks in earnings as worth strikes in your favor.
Trailing Begin (pips)
Minimal revenue required earlier than trailing begins
Trailing Step (pips)
Distance between every cease loss adjustment
👉 Smaller step:
- Locks revenue sooner
- However could also be too delicate
7. Break-Even
Protects trades by eliminating danger after reaching a sure revenue.
Break Even Begin (pips)
Revenue required earlier than transferring SL to break-even
Break Even Step (pips)
Additional pips added past entry when break-even is activated
👉 Instance:
Entry at 1000 → BE Step 2 → SL strikes to 1002
8. Danger Management
Max Drawdown Month-to-month (0 = OFF)
Defines most allowed month-to-month drawdown.
If exceeded:
- All open positions are closed
- All pending orders are deleted
👉 It is a important account safety function
9. Friday Exit
Reduces weekend danger publicity.
Friday Shut All
- ON → closes all positions on Friday
- OFF → retains trades open
Friday Finish Time
Defines when buying and selling stops on Friday
👉 Helps keep away from:
- Weekend gaps
- Late-week volatility
10. Information Filters
Avoids buying and selling throughout high-impact information occasions.
Information Filter
Allow / Disable
Cease Buying and selling Earlier than Information
Minutes earlier than information when buying and selling stops
Resume After Information
Minutes after information when buying and selling resumes
👉 Goal:
- Keep away from sudden spikes
- Scale back slippage danger
11. Dealer Settings
Ensures secure execution beneath dealer situations.
Max Unfold (pips)
Most unfold allowed for opening trades
👉 If exceeded → no commerce
Max Slippage (pips)
Most acceptable slippage throughout execution
Magic Quantity
Distinctive ID for the EA
👉 Permits:
- Managing its personal trades solely
- Avoiding conflicts with different EAs
📌 Ultimate Notes
Monas is designed for:
- Structured buying and selling
- Disciplined danger administration
- Actual market adaptability
Not designed for:
- Overtrading
- Excessive-risk playing
- Unrealistic revenue expectations
⚠️ Danger Warning
Buying and selling includes vital danger.
All the time:
- Use correct cash administration
- Take a look at on a demo account first
- Commerce solely with funds you possibly can afford to lose
Previous efficiency doesn’t assure future outcomes.
