Introduction

MForex EA V1.02 MT4 is an automated trading Expert Advisor developed for the MetaTrader 4 platform. It is designed to execute trades automatically based on its internal trading logic and user-defined settings. The EA helps traders participate in the forex market without constantly monitoring charts or placing trades manually. By automating the trading process, it aims to maintain consistency and discipline while managing trades according to predefined parameters.

Key Features

Automated trade execution on the MetaTrader 4 platform
Continuous market monitoring to detect trading opportunities
Customizable trading parameters for risk and trade management
Automatic trade management including entry and exit handling
Compatible with most brokers that support MetaTrader 4
Adjustable lot size and trade exposure settings
Can run continuously when connected to MT4 or a VPS
Beginner-friendly setup and configuration process

Recommended Settings

Currency Pair: EURUSD or GBPUSD
Timeframe: M15 or H1
Starting Lot Size: 0.01 for small accounts
Maximum Trades: 5–10 trades depending on account size
Take Profit: Small consistent profit target
Broker Type: Low spread or ECN broker recommended
Minimum Account Balance: 300–1000 USD recommended

These settings can vary depending on market conditions and individual risk tolerance. It is recommended to test the EA on a demo account before using it on a live trading account.

Backtest Result

Backtest performance for MForex EA V1.02 depends on factors such as historical data quality, trading parameters, and market conditions during the test period. In many cases, automated trading strategies may show consistent profit growth during stable market conditions.

Backtesting may reveal steady performance when the strategy aligns with normal market fluctuations. However, like all automated trading systems, drawdowns can occur during periods of strong market trends or high volatility. Traders are encouraged to conduct their own backtests using reliable historical data to better understand how the EA performs under different market environments.

Advantages

Automates trading activities and reduces manual work
Helps remove emotional decision-making from trading
Allows traders to participate in the market without constant monitoring
Provides customizable settings for flexible risk management
Can operate continuously when running on MT4 or a VPS
Supports systematic and disciplined trading strategies

Disadvantages

Performance can vary depending on market conditions
Incorrect configuration may increase trading risk
Automated systems can experience drawdowns during strong trends
Broker spreads and execution speed may affect results
Traders still need to monitor the EA periodically

Installation & Setup Guide

Download the MForex EA V1.02 file in .ex4 or .mq4 format
Open the MetaTrader 4 platform
Click File → Open Data Folder
Navigate to MQL4 → Experts
Copy and paste the EA file into the Experts folder
Restart the MetaTrader 4 platform
Open a chart for your preferred currency pair
Locate the EA in the Navigator panel under Expert Advisors
Drag the EA onto the chart
Configure the input parameters according to your trading preferences
Enable the AutoTrading button to allow the EA to start trading.

Support & Disclaimer

Support

If you need help installing or configuring your EA, or face any kind of bug, feel free to reach out on:

WhatsApp: Click here

Telegram Group: Join our community

Disclaimer:

Forex and gold trading involve risk. Past performance doesn't guarantee future results. Always test robots on demo before live trading and use proper risk management.