This guide covers installation, risk presets, set files and common questions for FXEA365 Gold King. Gold King is a session-scheduled basket grid for XAUUSD on the M1 chart in MetaTrader 5. Seven scheduled entry slots open a position only when their DeMarker momentum condition agrees. If price moves against a basket, the EA adds legs of the same size on a fixed $6 grid inside a limited time window, and the whole basket closes when its net profit reaches $140 per lot. There is no per-trade stop loss. This is a high-risk EA; please read the drawdown figures and the stress-test result below before you run it. Figures in this guide are as of 2026-11-09.
Installation and first run
1. Open an XAUUSD chart (GOLD and XAUUSDm also work) and set it to M1. On any other chart, including in the Strategy Tester, the EA places no trades.
2. Drag the EA onto the chart and allow algorithmic trading in the Common tab.
3. Turn on Algo Trading in the terminal toolbar.
4. A hedging account is the intended setup. On a netting account the EA prints a warning in the Experts log, because baskets of several legs need hedging.
5. The EA detects your broker's GMT offset and aligns the schedule automatically (InpHourShift=-99 = auto). Leave it at auto unless you know your broker needs a manual value.
6. Keep the terminal running. The protection layers (margin emergency close, daily-loss and consecutive-loss halts, built-in calendar news pause, pause button) act only in live trading, so backtests stay reproducible.
Minimum balance and leverage
- $1,000 for Ultra.
- $500 for Balanced and Defensive.
- Leverage 1:500 recommended.
Risk presets
The preset is chosen with one dropdown, InpRiskMode. Backtests are historical simulations, not a live record, and do not indicate future performance. All tests: 2019.01-2026.06, 100% real ticks, Exness feed, swap included, 10,000 USD start.
- Ultra (wide add-window, lot 1.0% of balance per $1k): +6,253% (to 635,268 USD), profit factor 4.67, worst 4-year window drawdown about 88% of equity, reached during the August 2020 gold crash. If you run Ultra, InpBasketLossPct = 20 is recommended.
- Aggressive (standard add-window, lot 1.0%): +4,297% (v6.0 figure), worst window drawdown about 88%.
- Balanced (default since v6.26, two parallel baskets, lot 0.5%): +1,252%, profit factor 7.61, worst window drawdown about 68%.
- Defensive (two baskets, lot 0.35%): a scaled-down version of Balanced. No separate figure is published.
- Manual: shows the lot, window and basket inputs for your own sizing.
Stress test on the unseen 2004-2019 window (2008 crisis, 2011-2013 gold crash): total loss of the account at the default and Aggressive presets. The edge depends on the modern gold session structure, and a regime change can wipe the account.
The forward test runs on an Exness demo account (not real money) since 2026-07-25: +19.95%, 192 trades, profit factor 3.99, maximum drawdown 4.6% as of 2026-11-03. It ran the Ultra preset until 2026-09-22 and Defensive since then, on v6.24 since 2026-09-29. This short period has not included a deep gold crash, so the backtest drawdowns above still apply.
Set files
Each set changes only the lines shown; all other inputs stay at their defaults.
Ultra
; InpRiskMode 4 = GK_ULTRA
InpRiskMode=4
Copy these lines into a text file named GoldKing_Ultra.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
The Ultra figures above were measured with InpBasketLossPct at its default (0 = off). The description recommends InpBasketLossPct = 20 for Ultra; if you add the line InpBasketLossPct=20, a basket is closed when its floating loss reaches 20% of balance, which turns a deep basket into a realised loss and changes the results.
Aggressive
; InpRiskMode 3 = GK_AGGRESSIVE
InpRiskMode=3
Copy these lines into a text file named GoldKing_Aggressive.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Balanced (default)
; InpRiskMode 2 = GK_BALANCED
InpRiskMode=2
Copy these lines into a text file named GoldKing_Balanced.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Defensive
; InpRiskMode 1 = GK_DEFENSIVE
InpRiskMode=1
Copy these lines into a text file named GoldKing_Defensive.set, save it in MQL5\Presets, then load it in the EA's Inputs tab with Load.
Optional basket age limit (any preset): add InpBasketMaxDays=30 to close a basket when its oldest leg has been open longer than 30 days. The default is 0 (off); 30 is recommended on brokers with heavy swap. The published figures were measured with it off.
Prop firm: no set is provided. We do not recommend this EA for prop-firm challenge accounts. The lowest-risk preset with published figures is Balanced, and its worst window drawdown is about 68%; compare that with your firm's loss rules before you decide.
FAQ
Q: Which chart should I attach it to?
A: XAUUSD M1. The strategy reads that timeframe; on any other chart, including in the Strategy Tester, you will see zero trades.
Q: Does it use martingale or grid?
A: It uses a same-size grid, not martingale. Every leg has the same lot, so exposure grows linearly and never doubles, and the basket closes as one group at its take-profit.
Q: Is there a stop loss?
A: No per-trade stop loss. A basket either reaches its take-profit or is closed by the protection layers. InpBasketLossPct closes a basket when its floating loss reaches the given % of balance (0 = off, default).
Q: Can I use it on a prop-firm account?
A: We do not recommend it. For other accounts the minimum balance is $1,000 for Ultra and $500 for Balanced or Defensive. Balanced, the lowest-risk preset with published figures, has a worst window drawdown of about 68%.
Q: Is the forward test on real money?
A: No. It runs on an Exness demo account. A few months of demo trading can neither confirm nor refute a multi-year backtest.
Q: Does it need a VPS?
A: The baskets and protection layers are managed by the EA, so the terminal should stay running and connected. A VPS is a practical way to do that.
Q: What about news?
A: A calendar-based news pause is built in and acts in live trading only.
Q: How do I check it in the Strategy Tester before buying?
A: Run the free demo on XAUUSD M1 with "Every tick based on real ticks", from 2019.01 to today, default inputs, the preset you would actually run, and your real deposit and leverage. Then compare trade count, profit factor and drawdown with the figures above.
Q: What should I do during a drawdown?
A: Baskets can sit in drawdown for days. Decide before you start what loss you accept, and set InpBasketLossPct if you need a hard limit. Do not add funds or raise the preset to rescue an open basket.
Q: Who is it not for?
A: Beginners, anyone who wants a fixed stop loss on every trade, anyone who cannot watch a basket sit in drawdown for days, and anyone who would risk savings or a prop-firm account.
Risk warning
This is a high-risk basket grid without a per-trade stop loss, and a sudden deep gold crash can severely damage or wipe out the account. In the 2004-2019 stress test the default and Aggressive presets lost the whole account. Backtests are historical simulations and do not indicate future performance. Use a dedicated account funded only with money you can afford to lose in full, start on a demo account and a low-risk preset, and withdraw profits regularly.
