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INSTALLATION GUIDE
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1. Attach the EA to one XAUUSD (Gold) chart only.
Timeframe doesn’t matter.
2. Use a broker with GMT +2 or GMT +3 server time for both prop firm and personal accounts.
This ensures correct performance.
If your broker is not GMT +2 or +3, the EA may trade at incorrect hours.
3. In the EA inputs:
- Portfolio Manager: Enter the number of Eriksson Systems EAs running on this account to automatically split the risk.
- Set your Account Balance (for example 100000 for a 100K account).
- Choose a unique Magic Number.
- Set your own Trade Comment.
- Select your preferred Risk Type and Level.
- If using Manual Risk, you can set your own maximum % risk per day.
- Enable Randomisation and Drawdown Protector for prop firm trading.
- Recommended Drawdown Protector: 4% (matches most prop firm daily limits).
- For prop firm accounts, Low or Medium risk levels are recommended.
4. For prop firm accounts:
- Ensure news trading is allowed.
If your firm allows holding trades during news but not opening/closing,
temporarily disable the EA during that restricted period.
- Make sure all positions close correctly at the end of the day.
The EA is not designed to hold any trades overnight.
5. After attaching:
- Enable “Allow Algo Trading” in the EA settings.
- Turn ON “Algo Trading” at the top of MT5.
- A blue icon should appear in the top-right corner of the chart when the EA is active.
6. Important:
After attaching the EA, it will begin trading **the next trading day**.
Do not change the chart timeframe, inputs, or restart the terminal/VPS while the EA is trading.
If you interrupt the EA during active trading, it will stop trading for the rest of that day
and continue normally the next day.
7. VPS recommended:
For stable 24/5 operation and uninterrupted trading, a reliable VPS is strongly recommended.
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FAQ AND COMMON QUESTIONS
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For detailed explanations of risk settings, broker requirements, drawdown protection,
and prop firm compatibility, please read the full FAQ here:
https://www.mql5.com/en/blogs/post/765211
