Golden mallet
- Whole period
- 2 years
- 1 year
- 6 months
- 3 months
- 1 month
Profit
:
-49,420JPYProfit Factor
:
0.96Rate of return risk
?
:
-0.31Average Profit
:
5,408JPYAverage Loss
:
-4,198JPYBalance
?
:
950,580JPYRate of return (all periods) ?
:
-11.11%Win Rate
:
42.65%
(209/490)
Maximum Position
?
:
2Maximum Drawdown
?
:
30.38%
(160,760JPY)
Maximum Profit
:
24,850JPYMaximum Loss
:
-15,580JPYRecommended Margin
?
:
444,700JPYUnrealized P/L
:
2,350JPYDeposit
?
:
1,000,000JPYCurrency
:
JPY- Account
Operable Brokers
Usable with MT4-adopting brokers.
Forward testing (Profit)
Product Statistics
Product Comments
Monthly Statistics
2026
2025
2024
2023
2022
- Jan
- Feb
- Mar
- Apr
- May
- Jun
- Jul
- Aug
- Sep
- Oct
- Nov
- Dec
Calendar for Months
About EA's Strategy
Translating...
Currency Pairs
[USD/JPY]
Trading Style
[Day Trading]
[Swing Trading]
Maximum Number Position
2
Maximum Lot
0
Chart Time Frame
M1
Maximum Stop Loss
0
Take Profit
0
Straddle Trading
No
Application Type
Metatrader Auto Trading
Other File Usages
No
We upgraded to version 1.07 on September 21, 2017. We apologize for the major drawdown from July to December 2016, which caused a great deal of inconvenience, especially to our purchasers. As of September 20, 2017, the EA has regained the drawdown amount without being upgraded, and the highest profit amount has also been updated. However, the fact that the drawdown was twice as large as the highest drawdown in the back test is something we need to reflect on. We have learned a lesson from this large drawdown, and after repeated analysis and examination, we have made this version up. Let me explain the details. First, please take a look at the back test results of the past version. During the drawdown, we upgraded the version once (v1.05→v1.06), so we will show you the results of v1.05 and v1.06 side by side. v1.05
v1.06
The forward test that was upgraded during the drawdown has a drawdown amount of 160,000 yen. Each has a large drawdown from July to December 2016, generally similar to the forward test. The amounts are 187,000 yen in v1.05 and 159,000 yen in v1.06. This EA has two logic styles, trend-following and countertrading, and we found the following when we analyzed the trades during this large drawdown. The large TPs of the counter trades also contributed to the poor performance. The TP/SL of the countertrade logic has been adjusted. For example, the weight of the same 40 pips was different when the $1 was 120 yen and when the $1 was 80 yen. The number of lots can be changed according to the price →A mode has been added to fine-tune the number of lots to keep profits constant according to TP/SL adjusted according to the price based on the same concept as above. 
Drawdowns have improved significantly and also only a small drawdown from July to December 2016. ■"Golden Hammer" feature
This EA is for use with USDJPY 1 minute.
This EA combines two different types of logic, a trend-following type that mainly uses the moving average of the long time leg (H4) to follow the trend, and a counter-trade type that mainly uses the Bollinger bands of the short time leg (M1) to target rebounds (or more precisely, the push points of rebounds), and aims to generate profits in both trending and ranging markets. It is an EA that aims to generate profit in both trending and ranging markets.
The maximum number of positions held is 2. Please be assured that we do not use any "napin" or "martingale" strategies.
Basically, TP is 30-112.5 pips and SL is 30-75 pips (may vary slightly due to slippage and fine-tuning to current prices), and will be changed according to market conditions. In some cases, the TP may be widened if a sign appears in the same direction while a position is held. In the event that the price moves in the opposite direction of the entry and the trend is deemed to have changed, the logic is to close the position immediately. Fine tuning to the current price means that the same 40 pips, for example, will have a different weight when the $1 is at 120 yen than when it is at 80 yen. For lower prices, the TP/SL is reduced, and for higher prices, the TP/SL is increased to match the weights.
Please choose a broker with the lowest possible spread. Since your trading style is not scalping, where you repeatedly trade for short periods of time, this will not have a significant impact on your profits, but the smaller the spread, the better your profitability will be in the long run.
The developer uses FXTF and OANDA JAPAN.
Also, this EA is created based on 5 daily (GMT+2 Summer:GMT+3). If you are using a broker with 6 daily legs, please turn on the GMT adjustment of the parameter because the 4-hour legs will change if you use it as it is. This will result in the same trading logic as a broker with 5 daily legs.
■Backtest results (retest results with v1.07)
This EA combines two different types of logic, a trend-following type that mainly uses the moving average of the long time leg (H4) to follow the trend, and a counter-trade type that mainly uses the Bollinger bands of the short time leg (M1) to target rebounds (or more precisely, the push points of rebounds), and aims to generate profits in both trending and ranging markets. It is an EA that aims to generate profit in both trending and ranging markets.
The maximum number of positions held is 2. Please be assured that we do not use any "napin" or "martingale" strategies.
Basically, TP is 30-112.5 pips and SL is 30-75 pips (may vary slightly due to slippage and fine-tuning to current prices), and will be changed according to market conditions. In some cases, the TP may be widened if a sign appears in the same direction while a position is held. In the event that the price moves in the opposite direction of the entry and the trend is deemed to have changed, the logic is to close the position immediately. Fine tuning to the current price means that the same 40 pips, for example, will have a different weight when the $1 is at 120 yen than when it is at 80 yen. For lower prices, the TP/SL is reduced, and for higher prices, the TP/SL is increased to match the weights.
Please choose a broker with the lowest possible spread. Since your trading style is not scalping, where you repeatedly trade for short periods of time, this will not have a significant impact on your profits, but the smaller the spread, the better your profitability will be in the long run.
The developer uses FXTF and OANDA JAPAN.
Also, this EA is created based on 5 daily (GMT+2 Summer:GMT+3). If you are using a broker with 6 daily legs, please turn on the GMT adjustment of the parameter because the 4-hour legs will change if you use it as it is. This will result in the same trading logic as a broker with 5 daily legs.
Back test results for the past 12 years or less (2006 - September 2017) - Spread is 4, lot size is 0.1Lot (10,000 currencies) - Simple interest operation mode - Initial margin is 300,000 yen
Here are the earnings per year of the backtest.
The point is that in many years, the profit exceeded 100,000 yen (over 1,000 pips). During the 12 years of back-testing, the USDJPY was in a downtrend from 124.13 yen in June 2007 to 75.57 yen in October 2011. After that, it began an uptrend, hitting 125.85 yen in June 2015, but from there it stalled until September 2017. In the midst of all these changes, this EA is not making a large profit in one year only, but is making a stable profit in all years, which we believe is the excellent point of this EA.| Year | Revenue (Yen) |
|---|---|
| 2006 | 135,540 |
| 2007 | 191,209 |
| 2008 | 54,191 |
| 2009 | 155,987 |
| 2010 | 51,624 |
| 2011 | 26,526 |
| 2012 | 143,780 |
| 2013 | 299,461 |
| 2014 | 210,050 |
| 2015 | 125,164 |
| 2016 | 97,211 |
| 2017 | 171,259 |
■About the logic of the compound interest operation mode
Compound operation mode can also be set to increase the number of lots for each increase in assets. The entry logic of this EA is not disclosed, but the lot number calculation logic for compounding mode is disclosed as follows. This is because we believe that if you do not know this logic, you may feel uneasy when you are compounding your valuable assets and that the risk is also high. Compounding mode is available only for yen-denominated and dollar-denominated accounts. Compounding mode cannot be turned on for accounts other than yen- and dollar-denominated accounts.
Logic Overview The number of lots that can be safely traded based on the net asset value of the account is entered, and the number of lots remains unchanged during a drawdown. If the number of lots is simply calculated from the net asset value at the time of entry, the number of lots will be higher when losing and lower when winning. This is a very inefficient way to invest, so we do not change the number of lots even during drawdowns. If the net asset value increases, the number of lots will be increased accordingly.
(1) Calculate the number of lots that can be traded from the amount of net assets in the account using the following formula . (☆ is a parameter) Maximum required funds = Maximum number of positions(2) × Margin required per 10,000 currencies + Maximum drawdown amount☆ × Risk value☆ Number of lots = Account net assets ÷ Maximum required funds (2) Obtain the number of lots at the time of the previous order with this EA from the order history. (3) The higher of (1) and (2) is used as the number of lots at the time of entry. However, if the maximum number of lots for the parameter is exceeded, the maximum number of lots will be used as the number of lots at the time of entry. *The currency unit per lot and the margin requirement per 10,000 currency are automatically calculated based on the broker information obtained from the server.
Please check the ON/OFF of the compounding mode and the number of lots for the next entry on the upper left corner of the chart, especially if you have turned on the compounding mode. If you want to lower the number of lots after entering in the compounding mode, please turn off the compounding mode and set the number of lots in the parameter "Number of lots per position purchased".
■Cautions for use
■Parameters
■Finally
Version Upgrade History
Logic Overview The number of lots that can be safely traded based on the net asset value of the account is entered, and the number of lots remains unchanged during a drawdown. If the number of lots is simply calculated from the net asset value at the time of entry, the number of lots will be higher when losing and lower when winning. This is a very inefficient way to invest, so we do not change the number of lots even during drawdowns. If the net asset value increases, the number of lots will be increased accordingly.
(1) Calculate the number of lots that can be traded from the amount of net assets in the account using the following formula . (☆ is a parameter) Maximum required funds = Maximum number of positions(2) × Margin required per 10,000 currencies + Maximum drawdown amount☆ × Risk value☆ Number of lots = Account net assets ÷ Maximum required funds (2) Obtain the number of lots at the time of the previous order with this EA from the order history. (3) The higher of (1) and (2) is used as the number of lots at the time of entry. However, if the maximum number of lots for the parameter is exceeded, the maximum number of lots will be used as the number of lots at the time of entry. *The currency unit per lot and the margin requirement per 10,000 currency are automatically calculated based on the broker information obtained from the server.
Please check the ON/OFF of the compounding mode and the number of lots for the next entry on the upper left corner of the chart, especially if you have turned on the compounding mode. If you want to lower the number of lots after entering in the compounding mode, please turn off the compounding mode and set the number of lots in the parameter "Number of lots per position purchased".
■Cautions for use
Please be sure to set the account history display period to "3 months" or "All history". This is because the account history is used in the logic. If "1 month" is selected, the past history cannot be retrieved correctly when the month changes, which may result in entries that differ from the forward test or a smaller number of lots in the compounding mode. 
■Parameters
・Magic Number Set to a value different from other EAs.
Slippage Please set the slippage you will allow (pips) *Slippage setting may not work for some brokers or their courses. Please check the broker's website for details.
Set the maximum spread that you are allowed to enter (pips). If the spread is greater than the value set here, entry will be forfeited. If you do not want to specify the upper limit, set 0.0.
The entry logic of this EA uses a 4-hour time frame and is designed for brokers with 5 daily legs (winter: GMT+2, summer: GMT+3). For brokers with other than 5 daily legs, please turn this parameter ON (true). If it is also turned ON, the adjusted value will be displayed as a comment as shown below (only during trading hours).
In the example above, GMT+9 is adjusted to GMT+3. If you are using a broker with 5 daily positions, you do not need to turn this setting ON.
Set the number of lots to buy for each position. This EA will take a maximum of 2 positions. As a rule of thumb for safe operation, 0.1 lot is 10,000 currency units, and for brokers with 25x leverage, 0.1 lot should be set when the account net assets are 300,000 yen. This parameter is not used in compounding mode.
Set whether to operate in the compounding mode described above. Set whether to operate in the compounding mode described above. If true for accounts other than yen- or dollar-denominated accounts, an error will occur at startup.
As mentioned above, TP/SL is fine-tuned according to the price, but if this is not changed, profits will vary according to the price . However, since the margin requirement increases or decreases depending on the price, the number of lots can be fine-tuned to match the profit even when the price is high or low. This mode automatically does this. Example: TP:40 0.1Lot when the price is 100 yen TP:32 0.12Lot when the price is 80 yen →TP will be smaller when the price is lower, but the profit will be leveled by increasing the number of lots. However, if the minimum order lot size is not less than 1/10 of the entry lot size, there is no effect even if it is turned ON. True→Lot number adjustment mode ON. If the compounding mode is ON, this mode will be OFF.
This is the maximum drawdown amount in the past when one position is 10,000 currencies. This is used when calculating the number of lots in the compounding mode. The initial value is the maximum drawdown amount in the back test from 2006/01/01 to 2015/12/31.
The risk value of the compound operation mode is the "risk value" described in "About the Logic of the Compound Operation Mode". The standard value is 2.0. Setting the value below 1.0 is not recommended since the possibility of not being able to withstand drawdowns increases.
The maximum number of lots in compound operation mode is the "maximum number of lots" described in "Logic in Compound Operation Mode. Even in compound interest operation mode, the number of lots cannot be larger than the number of lots set here.
Slippage Please set the slippage you will allow (pips) *Slippage setting may not work for some brokers or their courses. Please check the broker's website for details.
Set the maximum spread that you are allowed to enter (pips). If the spread is greater than the value set here, entry will be forfeited. If you do not want to specify the upper limit, set 0.0.
The entry logic of this EA uses a 4-hour time frame and is designed for brokers with 5 daily legs (winter: GMT+2, summer: GMT+3). For brokers with other than 5 daily legs, please turn this parameter ON (true). If it is also turned ON, the adjusted value will be displayed as a comment as shown below (only during trading hours).
In the example above, GMT+9 is adjusted to GMT+3. If you are using a broker with 5 daily positions, you do not need to turn this setting ON.Set the number of lots to buy for each position. This EA will take a maximum of 2 positions. As a rule of thumb for safe operation, 0.1 lot is 10,000 currency units, and for brokers with 25x leverage, 0.1 lot should be set when the account net assets are 300,000 yen. This parameter is not used in compounding mode.
Set whether to operate in the compounding mode described above. Set whether to operate in the compounding mode described above. If true for accounts other than yen- or dollar-denominated accounts, an error will occur at startup.
As mentioned above, TP/SL is fine-tuned according to the price, but if this is not changed, profits will vary according to the price . However, since the margin requirement increases or decreases depending on the price, the number of lots can be fine-tuned to match the profit even when the price is high or low. This mode automatically does this. Example: TP:40 0.1Lot when the price is 100 yen TP:32 0.12Lot when the price is 80 yen →TP will be smaller when the price is lower, but the profit will be leveled by increasing the number of lots. However, if the minimum order lot size is not less than 1/10 of the entry lot size, there is no effect even if it is turned ON. True→Lot number adjustment mode ON. If the compounding mode is ON, this mode will be OFF.
This is the maximum drawdown amount in the past when one position is 10,000 currencies. This is used when calculating the number of lots in the compounding mode. The initial value is the maximum drawdown amount in the back test from 2006/01/01 to 2015/12/31.
The risk value of the compound operation mode is the "risk value" described in "About the Logic of the Compound Operation Mode". The standard value is 2.0. Setting the value below 1.0 is not recommended since the possibility of not being able to withstand drawdowns increases.
The maximum number of lots in compound operation mode is the "maximum number of lots" described in "Logic in Compound Operation Mode. Even in compound interest operation mode, the number of lots cannot be larger than the number of lots set here.
■Finally
We are proud that this "Golden Hammer" is an excellent EA, but since it is the first EA to be offered by a new exhibitor among many excellent EAs on the market, we will offer it at 9,000 yen for a while. We hope you will take this opportunity to examine the characteristics of the EA and the results of back and forward tests. We have taken all possible measures to develop the EA, and we will support you as much as possible, but we will not be able to compensate you for any losses you may incur. Please understand this point and purchase and operate at your own discretion.
Version Upgrade History
Fixed a bug that caused an insufficient margin error due to an error in the margin requirement calculation at the time of entry for dollar-denominated accounts . Improved the counter trade logic so that traders can trade based on the past 4 weeks' results since the counter trade logic is considered to be unsuitable depending on the market conditions. Added a mode that allows the number of lots to be changed according to the price [V1.06 - 2016/07/29] - Improved the TP-SL range, which sometimes became too large during sudden price movements. When the market entered into a relatively narrow price range and a gradual trending market pattern, the drawdowns could become large due to continuous losses. V1.05 - 06/20/2016] - Added an upper limit to the spread setting for possible entries. Added a setting to adjust the calculation of entry conditions for brokers other than 5 daily brokers (winter: GMT+2, summer: GMT+3) so that the entry conditions are calculated in the same way as for brokers with 5 daily legs. V1.04 - 06/03/2016] - When an entry condition is met at the time of reaching T/P and also in the same direction, until V1.03, a position would be opened immediately after it was closed at the time of reaching T/P. This caused spread and slippage. This could result in a loss of spread or slippage. In such cases, the position would not be closed, and the T/P would be changed in the order modification. V1.03 - 2016/04/28] - The product name in the EA was changed according to the change of the product name to "Golden Hammer". ・Enhanced the display comments.
Sales from
:
03/22/2016 23:48
Purchased
:
48
times
Price: $56.15 (taxed)
￥9,000(taxed)
Provider/Distributor:
Sales site:
GogoJungle
●Payment
Forward Test
Back Test
Sales from : 03/22/2016 23:48
Purchased
:
48
times
Price: $56.15 (taxed)
￥9,000(taxed)
Provider/Distributor:
Sales site:
GogoJungle
●Payment
About Forex Automated Trading
What is Forex Automated Trading (MT4 EA)?
Forex Automated Trading refers to trading that is automated through programming, incorporating predetermined trading and settlement rules. There are various methods to conduct automated trading, but at GogoJungle, we deal with Experts Advisors (hereinafter referred to as EA) that operate on a trading platform called MT4.
Trading Types of Forex Automated Trading
There are various types of EAs (Expert Advisors) for different trading types that can be used on MT4.
Just like discretionary trading, there are those that decide trading and settlement timings by combining indicators, those that repeatedly buy or sell at certain price (pips) intervals, and trading methods that utilize market anomalies or temporal features. The variety is as rich as the methods in discretionary trading.
To categorize simply,
・Scalping (Type where trades are completed within a few minutes to a few hours),
・Day Trading (Type where trades are completed within several hours to about a day),
・Swing Trading (Type where trades are conducted over a relatively long period of about 1 day to 1 week)
・Grid/Martingale Trading (Holding multiple positions at equal or unequal intervals and settling all once a profit is made. Those that gradually increase the lot number are called Martingale.)
・Anomaly EA (Mid-price trading, early morning scalping)
Just like discretionary trading, there are those that decide trading and settlement timings by combining indicators, those that repeatedly buy or sell at certain price (pips) intervals, and trading methods that utilize market anomalies or temporal features. The variety is as rich as the methods in discretionary trading.
To categorize simply,
・Scalping (Type where trades are completed within a few minutes to a few hours),
・Day Trading (Type where trades are completed within several hours to about a day),
・Swing Trading (Type where trades are conducted over a relatively long period of about 1 day to 1 week)
・Grid/Martingale Trading (Holding multiple positions at equal or unequal intervals and settling all once a profit is made. Those that gradually increase the lot number are called Martingale.)
・Anomaly EA (Mid-price trading, early morning scalping)
Risks, Advantages, and Disadvantages of Forex Automated Trading
When engaging in Forex, there are risks in automated trading just as there are in discretionary trading.
However, a substantial advantage of automated trading is its ability to limit and predict risks beforehand.
[Risk]
Inherent to forex trading are the trading risks that undeniably exist in automated trading as well.
・Lot Size Risk
Increasing the lot size forcibly due to a high winning rate can, in rare instances, depending on the EA, lead to substantial Pips loss when a loss occurs. It is crucial to verify the SL Pips and the number of positions held before operating with an appropriate lot.
・Rapid Market Fluctuation Risk
There are instances where market prices fluctuate rapidly due to index announcements or unforeseen news. System trading does not account for such unpredictable market movements, rendering it incapable of making decisions on whether to settle in advance or abstain from trading. As a countermeasure, utilizing tools that halt the EA based on indicator announcements or the VIX (fear index) is also possible.
[Benefits]
・Operates 24 hours a day
If there is an opportunity, system trading will execute trades on your behalf consistently. It proves to be an extremely convenient tool for those unable to allocate time to trading.
・Trades dispassionately without being swayed by emotions
There is an absence of self-serving rule modifications, a common human tendency, such as increasing the lot size after consecutive losses in discretionary trading or, conversely, hastily securing profits with minimal gains.
・Accessible for beginners
To engage in Forex trading, there is no prerequisite to study; anyone using system trading will achieve the same results.
[Disadvantages]
・Cannot increase trading frequency at will
Since system trading operates based on pre-programmed conditions, depending on the type of EA, it might only execute trades a few times a month.
・Suitability may vary with market conditions
Depending on the trading type of the EA, there are periods more suited to trend trading and periods more suited to contrarian trading, making consistent results across all periods unlikely. While the previous year might have yielded good results, this year's performance might not be as promising, necessitating some level of discretion in determining whether it is an opportune time to operate.
However, a substantial advantage of automated trading is its ability to limit and predict risks beforehand.
[Risk]
Inherent to forex trading are the trading risks that undeniably exist in automated trading as well.
・Lot Size Risk
Increasing the lot size forcibly due to a high winning rate can, in rare instances, depending on the EA, lead to substantial Pips loss when a loss occurs. It is crucial to verify the SL Pips and the number of positions held before operating with an appropriate lot.
・Rapid Market Fluctuation Risk
There are instances where market prices fluctuate rapidly due to index announcements or unforeseen news. System trading does not account for such unpredictable market movements, rendering it incapable of making decisions on whether to settle in advance or abstain from trading. As a countermeasure, utilizing tools that halt the EA based on indicator announcements or the VIX (fear index) is also possible.
[Benefits]
・Operates 24 hours a day
If there is an opportunity, system trading will execute trades on your behalf consistently. It proves to be an extremely convenient tool for those unable to allocate time to trading.
・Trades dispassionately without being swayed by emotions
There is an absence of self-serving rule modifications, a common human tendency, such as increasing the lot size after consecutive losses in discretionary trading or, conversely, hastily securing profits with minimal gains.
・Accessible for beginners
To engage in Forex trading, there is no prerequisite to study; anyone using system trading will achieve the same results.
[Disadvantages]
・Cannot increase trading frequency at will
Since system trading operates based on pre-programmed conditions, depending on the type of EA, it might only execute trades a few times a month.
・Suitability may vary with market conditions
Depending on the trading type of the EA, there are periods more suited to trend trading and periods more suited to contrarian trading, making consistent results across all periods unlikely. While the previous year might have yielded good results, this year's performance might not be as promising, necessitating some level of discretion in determining whether it is an opportune time to operate.
Equipment and Environment Needed for Automated Trading Operation
The requirements for operating automated trading (EA) on MT4 are as follows:
・MT4 (MetaTrader 4. An account needs to be opened with a Forex company that offers MT4.)
・EA (A program for automated trading)
・The operating deposit required to run the EA
・A PC that can run 24 hours or a VPS (Virtual Private Server), where a virtual PC is hosted on a cloud server to run MT4.
・MT4 (MetaTrader 4. An account needs to be opened with a Forex company that offers MT4.)
・EA (A program for automated trading)
・The operating deposit required to run the EA
・A PC that can run 24 hours or a VPS (Virtual Private Server), where a virtual PC is hosted on a cloud server to run MT4.
Installation of MT4 and Account Login
If you open an account with a forex broker that supports MT4, you can use MT4 as provided by that forex broker. MT4 is a stand-alone type of software that needs to be installed on your computer, so you download the program file from the website of the FX company where you opened the account and install it on your computer.
Additionally, there are both demo and real accounts available. You can experience trading with virtual money by applying for a demo account. After opening a real account, you select the connection server assigned by the Forex broker, enter the password, and log in to the account.
When you deposit money into your account using the method specified by the forex broker, the funds will be reflected in your MT4 account, and you can trade.
Additionally, there are both demo and real accounts available. You can experience trading with virtual money by applying for a demo account. After opening a real account, you select the connection server assigned by the Forex broker, enter the password, and log in to the account.
When you deposit money into your account using the method specified by the forex broker, the funds will be reflected in your MT4 account, and you can trade.
How to Install EA on MT4
To set up an EA when you purchase it through GogoJungle, follow the steps below:
Firstly, download the purchased EA file from your My Page on GogoJungle. You will download a zip (compressed) file, so right-click to extract it and retrieve the file named ‘◯◯◯ (EA name)_A19GAw09 (any 8 alphanumeric characters).ex4’ from inside.
Next, launch MT4 and navigate to ‘File’ → ‘Open Data Folder’ → ‘MQL4’ → ‘Experts’ folder, and place the ex4 file inside. Once done, close MT4 and restart it. Then, go to the upper menu ‘Tools’ → ‘Options’, and under ‘Expert Advisors’, ensure ‘Allow automated trading’ and ‘Allow DLL imports’ are checked, then press OK to close.
The necessary currency pair and time frame for the correct operation of the EA are specified on the EA sales page. Refer to this information and open the chart of the correct currency pair time frame (e.g., USDJPY5M for a USD/Yen 5-minute chart).
Within the menu navigator, under ‘Expert Advisors’, you will find the EA file name you placed earlier. Click to select it, then drag & drop it directly onto the chart to load the EA. Alternatively, you can double-click the EA name to load it onto the selected chart.
If ‘Authentication Success’ appears in the upper left of the chart, the authentication has been successful. To operate the EA, you need to keep your PC running 24 hours. Therefore, either disable the automatic sleep function or host MT4 on a VPS and operate the EA.
Firstly, download the purchased EA file from your My Page on GogoJungle. You will download a zip (compressed) file, so right-click to extract it and retrieve the file named ‘◯◯◯ (EA name)_A19GAw09 (any 8 alphanumeric characters).ex4’ from inside.
Next, launch MT4 and navigate to ‘File’ → ‘Open Data Folder’ → ‘MQL4’ → ‘Experts’ folder, and place the ex4 file inside. Once done, close MT4 and restart it. Then, go to the upper menu ‘Tools’ → ‘Options’, and under ‘Expert Advisors’, ensure ‘Allow automated trading’ and ‘Allow DLL imports’ are checked, then press OK to close.
The necessary currency pair and time frame for the correct operation of the EA are specified on the EA sales page. Refer to this information and open the chart of the correct currency pair time frame (e.g., USDJPY5M for a USD/Yen 5-minute chart).
Within the menu navigator, under ‘Expert Advisors’, you will find the EA file name you placed earlier. Click to select it, then drag & drop it directly onto the chart to load the EA. Alternatively, you can double-click the EA name to load it onto the selected chart.
If ‘Authentication Success’ appears in the upper left of the chart, the authentication has been successful. To operate the EA, you need to keep your PC running 24 hours. Therefore, either disable the automatic sleep function or host MT4 on a VPS and operate the EA.
In Case You Want to Change the Account in Use
EAs from GogoJungle can be used with one real account and one demo account per EA.
If you want to use it with an account other than the authenticated one, you need to reset the registered account.
To reset the account, close the MT4 where the Web authentication is registered, then go to My Page on GogoJungle > Use > Digital Contents > the relevant EA > press the ‘Reset’ button for the registration number, and the registered account will be released.
When the account is in a reset state, using the EA with another MT4 account will register a new account.
Also, you can reset the account an unlimited number of times.
If you want to use it with an account other than the authenticated one, you need to reset the registered account.
To reset the account, close the MT4 where the Web authentication is registered, then go to My Page on GogoJungle > Use > Digital Contents > the relevant EA > press the ‘Reset’ button for the registration number, and the registered account will be released.
When the account is in a reset state, using the EA with another MT4 account will register a new account.
Also, you can reset the account an unlimited number of times.
Solutions for Errors During Web Authentication or Non-Functional Account Trading
If you encounter an error with Web authentication, or if the EA is trading on GogoJungle's forward performance page but not on your own account, there could be various reasons. For more details, please refer to the following link:
→ Items to Check When EA is Not Operating
→ Items to Check When EA is Not Operating
About the Size of Trading Lots
In Forex trading, the size of a lot is usually:
1 lot = 100,000 currency units
0.1 lot = 10,000 currency units
0.01 lot = 1,000 currency units
For USD/JPY, 1 lot would mean holding 100,000 dollars.
The margin required to hold lots is determined by the leverage set by the Forex broker.
If the leverage is 25 times, the margin required to hold 10,000 currency units of USD/JPY would be:
10000*109 (※ at a rate of 109 yen per dollar) ÷ 25 = 43,600 yen.
1 lot = 100,000 currency units
0.1 lot = 10,000 currency units
0.01 lot = 1,000 currency units
For USD/JPY, 1 lot would mean holding 100,000 dollars.
The margin required to hold lots is determined by the leverage set by the Forex broker.
If the leverage is 25 times, the margin required to hold 10,000 currency units of USD/JPY would be:
10000*109 (※ at a rate of 109 yen per dollar) ÷ 25 = 43,600 yen.
Glossary of Automated Trading
・Profit Factor: Total Profit ÷ Total Loss
・Risk-Return Ratio: Total Profit and Loss during the period ÷ Maximum Drawdown
・Maximum Drawdown: The largest unrealized loss during the operation period
・Maximum Position Number: This is the maximum number of positions that the EA can theoretically hold at the same time
・TP (Take Profit): The set profit-taking Pips (or specified amount, etc.) in the EA's settings
・SL (Stop Loss): The set maximum loss pips (or specified amount, etc.) in the EA's settings
・Trailing Stop: Instead of settling at a specified Pips, once a certain profit is made, the settlement SL is raised at a certain interval (towards the profit), maximizing the profit. It is a method of settlement.
・Risk-Reward Ratio (Payoff Ratio): Average Profit ÷ Average Loss
・Hedging: Holding both buy and sell positions simultaneously (Some FX companies also have types where hedging is not allowed)
・Risk-Return Ratio: Total Profit and Loss during the period ÷ Maximum Drawdown
・Maximum Drawdown: The largest unrealized loss during the operation period
・Maximum Position Number: This is the maximum number of positions that the EA can theoretically hold at the same time
・TP (Take Profit): The set profit-taking Pips (or specified amount, etc.) in the EA's settings
・SL (Stop Loss): The set maximum loss pips (or specified amount, etc.) in the EA's settings
・Trailing Stop: Instead of settling at a specified Pips, once a certain profit is made, the settlement SL is raised at a certain interval (towards the profit), maximizing the profit. It is a method of settlement.
・Risk-Reward Ratio (Payoff Ratio): Average Profit ÷ Average Loss
・Hedging: Holding both buy and sell positions simultaneously (Some FX companies also have types where hedging is not allowed)
Useful related pages
・How to Install MT4 EA (Expert Advisor) and Indicators
・MT4 Beginner's Guide
・Understanding System Trading Performance (Forward and Backtesting)
・Choosing Your First EA! Calculating Recommended Margin for EAs
・Comparing MT4 Accounts Based on Spread, Swap, and Execution Speed
・What is Web Authentication?
・Checklist for When Your EA Isn't Working
・MT4 Beginner's Guide
・Understanding System Trading Performance (Forward and Backtesting)
・Choosing Your First EA! Calculating Recommended Margin for EAs
・Comparing MT4 Accounts Based on Spread, Swap, and Execution Speed
・What is Web Authentication?
・Checklist for When Your EA Isn't Working