Question 1

What type of strategy does Wizard EA MT4 use?

Accepted Answer

Dynamic pending order execution based on price movement analysis with strict risk control.

Question 2

What is the risk level?

Accepted Answer

Medium — Fixed SL/TP and no Martingale make it relatively safe, but 7% AutoMM is quite aggressive.

Question 3

Is it suitable for beginners?

Accepted Answer

Yes. The EA has clear parameters and good built-in risk management.

Question 4

Can I use it on Gold or other pairs?

Accepted Answer

It is designed for major Forex pairs. Testing on Gold is possible but not recommended as default.

Question 5

How do I reduce risk?

Accepted Answer

Lower the AutoMM value (e.g., to 2–3) or switch to FixedLot mode.

Question 6

What does “PendingOpen” do?

Accepted Answer

It sets the distance (in points) for placing pending orders from the current price level.

Wizard EA MT4Premium