Key Settings and Configuration for Scalping EA

ParameterDescriptionRecommended RangeNotes

Lot SizeInitial trade volume0.01 - 0.1 per $1000Keep small to manage risk, as scalping involves frequent trades.

Stop Loss (SL)Distance to stop loss5 - 15 pipsTight stop losses are preferred in scalping.

Take Profit (TP)Distance to take profit5 - 20 pipsSet low to capture small market moves.

Max SpreadMaximum spread allowed2 - 5 pipsHelps avoid trading during high-spread periods.

SlippageMax allowed slippage for order execution0.5 - 2 pipsKeeps trades from executing with significant price changes.

Trade Time RestrictionsSet specific trading hoursActive market hoursAvoid low-liquidity times like the end of trading sessions.

Trailing StopAllows SL to follow profitable trades1 - 3 pipsMoves SL to lock in profit if price moves in the trade’s favor.

Magic NumberUnique identifier for the EA’s tradesUnique per EAHelps manage trades separately from other EAs or manual trades.

Key Recommendations

Avoid High-Impact News: Scalping is sensitive to volatility spikes. Avoid trading during high-impact news events by setting up news filters or stopping the EA beforehand.

Low Spread Pairs: Use the EA on low-spread pairs like EUR/USD, USD/JPY, or GBP/USD. This reduces costs per trade and improves profitability.

Monitor Execution Speed: Scalping strategies rely on fast execution. Use a reliable broker and, if possible, a VPS to reduce latency and slippage.