Description

Hamza FX EA Review: A Practical, Plain-English Guide for Gold Traders

Hamza FX EA – How This MT4 Expert Advisor Aims for Steady XAUUSD Returns

Table of Contents

1. Quick Snapshot Hamza FX EA
2. [What Is Hamza FX EA?](#what-is-hamza fx ea)
3. Why Trade Gold (XAUUSD) With a Dedicated EA?
4. Key Features That Make HamzaFX EA Stand Out
5. How Balance-Based Risk Management Works
6. Step-by-Step Setup on MetaTrader 4
7. Parameter Walk-Through: What Each Setting Does
8. Back-Test Results: 2015-2024
9. Forward Performance & Live Observations
10. Using the Built-In News Filter
11. Smart Trailing Stop Explained
12. Running Hamza FX EA for Prop Firm Challenges
13. Risk Management Checklist
14. Pros and Cons at a Glance
15. Comparison With Other Gold EAs
16. Best Practices for Long-Term Use
17. Common Mistakes to Avoid
18. User Stories & Case Studies
19. Frequently Asked Questions
20. Final Thoughts & Next Steps

Quick Snapshot

What Is Hamza FX EA?

Hamza FX EA is a custom Expert Advisor designed specifically for MetaTrader 4. It focuses on one symbol—Gold (XAUUSD)—and aims to keep risk low while letting profitable trades run.

Unlike many “one-size-fits-all” robots, this EA:

• Calculates position size from current account balance.
• Lets you switch on a news filter to sit out high-impact events.
• Mixes a fixed-pip trailing stop with an ATR-based adjustment, so the stop adapts to daily volatility.

In short, it tries to cover the boring but crucial parts of trading—sizing, exit logic, and risk control—so you can focus on the bigger picture.

Why Trade Gold (XAUUSD) With a Dedicated EA?

Gold is not just “another pair.” It has:

1. Longer trends than most FX majors.
2. Sharp spikes during risk events.
3. Higher tick value (each pip counts).

Because of those traits, a Gold-only EA can be fine-tuned in ways that multi-pair robots cannot. HamzaFX EA tries to do exactly that, without flooding your account with trades.

Key Features That Make HamzaFX EA Stand Out

💸 1. Balance-Based Risk Management

• The EA looks at your current balance, not the starting balance.
• If your account grows, trade size grows automatically.
• If your account drops, exposure drops too.

🧩 2. Symbol-Specific Code

• All indicators, filters, and logic are tuned to XAUUSD’s average range and session behavior.

📰 3. Optional News Filter

• Skips entries during high-impact economic releases (Fed, CPI, NFP, etc.).
• Reduces the chance of surprise slippage.

🎯 4. Smart Trailing Stop

• Uses a classic pip distance to lock the first chunk of profit.
• Switches to an ATR trail so the stop “breathes” when volatility expands.

🔒 5. Conservative Risk Profile

• Default risk is 1% per trade—well under most prop firm daily loss limits.
• No martingale, no grid, no adding to losers.

How Balance-Based Risk Management Works

1. Scan Balance: At the moment a trade is about to open, the EA reads your MT4 account balance in real time.
2. Calculate Lot Size: It divides the balance by 100 (for 1% risk) and by the stop-loss distance (in pips converted to Gold’s tick value).
3. Round Down: The size is rounded to the nearest micro or mini lot, depending on your broker.
4. Auto-Update: Each new trade repeats the process, so lot size changes as the account grows or shrinks.

Benefits:

• No manual resizing after every withdrawal or profit.
• Smooth position scaling during prop firm growth phases.
• Easier compounding for long-term investors.

Step-by-Step Setup on MetaTrader 4

Follow these steps once, and the EA does the rest:

Once attached, you’ll see a smiling face in the chart corner, showing the EA is active.

Parameter Walk-Through: What Each Setting Does

Below is a snapshot of the inputs you’ll find in the EA properties. Tweak with care:

Back-Test Results: 2015-2024

Back-testing is never perfect, but it sheds light on general behavior. Tests were run on H1 XAUUSD, tick data from Dukascopy, 99% modelling quality.

Observation:

• Balanced growth curve, flat periods during 2018 and 2021 (Gold chop seasons).
• Equity dip in March 2020 but recovered within 3 weeks.

Forward Performance & Live Observations

A small $1 000 demo was started in Jan 2023. Settings: default risk (1%), news filter ON.

Key takeaways:

• Equity curve gentler than back-test due to real-world slippage.
• News filter skipped two big loses in March 23 FOMC week.
• ATR trail kept large winners alive in Oct 23 geopolitical rally.

Using the Built-In News Filter

Enabling the news filter pulls a free calendar feed (usually from ForexFactory or Investing.com).

How it works:

1. EA checks for high-impact events tagged for USD.
2. If current time is within News_Filter_Minutes before/after the event, no new entries open.
3. Existing trades can be either held or closed (configurable).

When to enable?

• If you trade prop firm challenges with tight drawdown.
• If your broker widens spreads during NFP.
• If you sleep during U.S. session and cannot monitor sudden gaps.

When to disable?

• On accounts that prefer more trades and can tolerate volatility.
• If the calendar feed stops (rare but possible, check journal tab).

Smart Trailing Stop Explained

Stage 1 – Fixed Pips

Once price moves Trail_Start_Pips in your favor, the EA drags the stop to breakeven plus a few pips. That “locks” the trade.

Stage 2 – ATR Trail

For every new candle:

• EA reads current Average True Range.
• Stop is set to ATR_Multiplier × ATR.
• If Gold’s range expands, the stop widens; if range tightens, stop follows closer.

Why mix the two?

• Fixed pips quickly remove worst-case loss.
• ATR keeps the exit dynamic, a good fit for Gold’s changing volatility.

Running Hamza FX EA for Prop Firm Challenges

Most funding providers (FTMO, MyFundedFX, etc.) require:

• 10% profit target
• 5% daily loss limit
• 10% max drawdown

HamzaFX EA helps because:

• 1% risk per trade means you need five losers in one day to hit the daily cap—unlikely with average 2-4 entries.
• No grid or martingale keeps equity shocks small.
• The slow but steady curve lines up with 30- or 60-day evaluation periods.

Practical tips:

1. Use news filter ON.
2. Stick to default risk for Phase 1.
3. If in profit > 12%, lower risk to 0.5% to “coast” through Phase 2.

Risk Management Checklist

Before live deployment:

• Trade size = 1% or less.
• Broker spread on XAUUSD < 25 points during peak.
• VPS latency < 5 ms (if running multiple EAs).
• Equity stop on MT4 (Ctrl+Alt+A) set to ‑10%.
• Forward test at least 4 weeks on demo.

Pros and Cons at a Glance

Comparison With Other Gold EAs

Best Practices for Long-Term Use

1. Use a VPS close to your broker.
2. Review logs weekly (Experts tab) for errors or missed trades.
3. Re-back-test after MT4 updates.
4. Withdraw profits every quarter; let balance still grow.
5. Combine with one or two low-correlation EAs (e.g., EURUSD swing bot).

Common Mistakes to Avoid

• Bumping risk to 5%+ after a winning month.
• Running it on Silver or indices; the logic is tuned only for Gold.
• Turning the news filter off during Fed rate decisions, then blaming the EA.
• Forgetting to update the DLL if the calendar feed changes.
• Using brokers with > 40 point spread—stop-loss math breaks.

User Stories & Case Studies

Case Study 1 – The Part-Time Trader

• Profile: 38-year-old teacher, $3 000 account.
• Settings: Default risk, news filter on.
• Outcome (8 months): Grew to $3 610 (+20%), max drawdown 6%.
• Lesson: Slow growth, but no sleepless nights.

Case Study 2 – Prop Firm Candidate

• Profile: 23-year-old, FTMO 100k challenge.
• Settings: Risk 0.8%, tightened news filter to 45 minutes.
• Outcome: Hit 10% target in 41 days with 2.9% drawdown.
• Lesson: The EA alone can pass, but patience is key.

Case Study 3 – High-Risk Experiment

• Profile: Crypto trader, spare $500.
• Settings: Risk 4%, news filter off.
• Outcome: Up 32% in 2 weeks, then wiped 38% in one CPI spike.
• Lesson: Respect Gold volatility; 1% exists for a reason.

Frequently Asked Questions

Q: Can I change the default 1% risk?A: Yes, but stay below 2% if you want to keep drawdowns small.

Q: Does Hamza FX EA work on MT5?A: Officially no. You need MT4.

Q: Timeframe recommendations?A: H1 chart for best balance of signals and CPU load.

Q: Can I run other EAs on the same account?A: Yes, but give each EA a unique Magic Number.

Q: Is the EA FIFO-compliant for U.S. brokers?A: It opens one trade at a time, so FIFO rules are generally met.

Final Thoughts & Next Steps

Hamza FX EA aims for steady, low-stress Gold trading through sensible risk controls and adaptive exit logic. It will not double an account in weeks, but it provides a clear framework for compounding returns while respecting drawdown limits—especially handy for prop firm evaluations.

Ready to see if it fits your style?

1. Download the demo and run at least 30 days on paper.
2. Tweak only one parameter at a time (start with Risk_Percent).
3. When comfortable, move to a small live account or prop challenge.

Leave a comment below if you’ve tried Hamza FX EA, or share your back-test curve—your feedback helps everyone trade smarter!

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