Developed by Eriksson Systems
✅ 1) BASIC SETUP (LIVE TRADING)
Symbol:
-
XAUUSD (Gold only)
Timeframe:
-
Works on any timeframe
-
📌 Recommended: M30 (best balance of visuals and execution)
Recommended Broker Conditions:
-
Low spread
-
Low commission
-
Broker time zone GMT+2 / GMT+3
✅ 2) MAGIC NUMBER & TRADE COMMENT
-
Always use a unique Magic Number
-
If running multiple EAs, each EA must have its own Magic Number
-
Prop firms: using a custom trade comment is optional but recommended
📊 3) DETAILED INFO PANEL
You can enable the Detailed Info Panel to monitor your EA’s historical live performance directly on the chart.
The panel provides a clear overview of performance metrics, including:
-
Total P&L
-
Total trades
-
Win rate
-
Profit factor
-
Current drawdown
-
Biggest win
-
Biggest loss
-
And other key statistics
It also displays an equity curve, allowing you to visually track how the EA has performed over time.
This makes it easier to track live performance, compare results with backtests, and make data-driven decisions instead of emotional ones.
✅ 4) BACKTESTING SETTINGS (IMPORTANT)
Correct tester settings are essential for realistic results.
Recommended Test Period
📌 Long-term testing is strongly recommended
-
Most brokers provide reliable Gold data from 2018 → Present
-
Dukascopy M1 data can be used, and the EA has been tested back to 2010
Gold behavior changes significantly over time, so testing across multiple market cycles is important.
Recommended Modeling Method
📌 1 Minute OHLC (Open / High / Low / Close)
Do NOT use:
-
Every Tick
-
Real Tick Data
Reason:
Tick data often contains incorrect spreads, gaps, and broker-specific inconsistencies.
This EA processes logic on new M1 candle openings, so tick modeling provides no advantage.
If Your Backtest Looks Different From Live / Page Results
This is usually caused by:
-
Incorrect spread or commission settings in the tester
-
Low-quality historical data
-
Using tick modeling instead of M1 OHLC
📌 Also recommended:
Backtest using risk based on starting balance / fixed balance, not equity-based risk.
✅ 5) RISK SETTINGS (VERY IMPORTANT)
⚠ Fixed lot size is NOT recommended
Gold volatility changes heavily, and current gold volatility is very high.
This EA adapts automatically:
-
Higher volatility → larger stop loss distance
-
Lot size adjusts dynamically to keep risk stable
Manual Risk Explanation
When using Manual Risk (%), the percentage you set represents the maximum risk per trade.
Example:
-
If you set 1% risk, a trade that hits stop loss will lose approximately 1% of your account balance
-
The EA can take up to 3 trades in one trading day
This means:
-
1% risk → up to ~3% total daily loss (worst case)
-
0.5% risk → up to ~1.5% total daily loss (worst case)
This is important to consider when trading with prop firm daily loss limits.
Recommended Risk Guidelines
Prop Firms:
📌 Use low risk settings
Portfolio Trading (Multiple EAs):
📌 Use manual risk
📌 Divide total account risk equally across multiple EAs, based on backtest results
✅ 6) STOP LOSS SIZE SETTINGS
This EA offers three different stop loss sizes:
-
Small
-
Medium
-
Large
Recommendations
-
Large Stop Loss
-
Most stable and robust
-
Recommended for larger accounts
-
-
Important Note on Current Gold Volatility
Gold volatility is currently very high.
Even with the smallest possible lot size, losses can exceed $200 per trade.
📌 For smaller accounts, using a Small Stop Loss is recommended to reduce maximum losses.
🛡 7) DAILY DRAWDOWN PROTECTION (PROP FIRMS ONLY)
📌 Recommended ONLY for prop firm accounts
-
Set the daily loss limit below your prop firm’s maximum
-
Example: If max allowed is 5%, set it to 4%
-
⚠ Important Behavior:
-
This feature closes all trades on the account, including trades from other EAs
-
Trades may be closed earlier than intended by trade logic
This is intentional and required to protect the account from breaking prop firm rules.
📌 Not recommended for personal accounts.
💰 8) MINIMUM BALANCE
📌 Minimum recommended balance: $500
📌 Recommended during high volatility: $1000+
(for safer margin levels and smoother performance)
✅ QUICK RECOMMENDED SETTINGS (BEST DEFAULT)
✔ XAUUSD
✔ M30 timeframe
✔ Low risk (prop firms)
✔ Stop Loss Size: Small (smaller accounts) / Large (larger accounts)
✔ Daily Drawdown Protection = ON (prop firms only)
✔ Backtest using 1 Minute OHLC
✔ Long-term testing (2010+ recommended)
✔ Unique Magic Number per EA
DISCLAIMER
Trading involves risk.
This EA can experience losing periods.
Past results do not guarantee future performance.
Always test on demo accounts and use proper risk management.
