EA Settings Guide
Understand every parameter that controls your Gold & Nasdaq Breakout EAs
Both EAs share identical settings. Total control means you decide your risk level, trading hours, and strategy behavior.
Recommended Presets
Start with one of these tested configurations based on your risk tolerance
Conservative
Minimal risk, steady growth
Best for: Accounts under $5,000 or risk-averse traders
Balanced
Optimal risk/reward ratio
Best for: Most traders, accounts $5,000-$20,000
Aggressive
Higher risk, faster growth
Best for: Experienced traders, larger accounts $20,000+
Before Configuring EA Settings
Make sure you have these prerequisites in place first
Set Up Your VPS (Virtual Private Server)
Required for 24/7 automated trading
Why You Need a VPS:
- Runs 24/7 without relying on your home computer
- No interruptions from power outages or internet issues
- Ultra-low latency connection to broker servers
- Professional uptime (99.9%+) for consistent trading
Recommended VPS Specs:
✓ Recommended Provider:
ForexVPS.net — Specifically optimized for algorithmic trading with guaranteed uptime, low latency, and easy MT5 setup. Plans start at ~$15/month.
Quick VPS Setup Steps:
- Sign up for VPS provider and choose Windows Server plan
- Receive VPS credentials (IP address, username, password)
- Connect using Remote Desktop (Windows) or RDP client (Mac/Linux)
- Once connected, you'll see a Windows desktop - this runs 24/7
Install MetaTrader 5 on Your VPS
The trading platform where EAs run
- Download MT5: Inside your VPS, visit your broker's website and download their MT5 platform
- Install MT5: Run the installer and complete setup (usually 2-3 minutes)
- Login: Enter your MT5 account number, password, and select your broker's server
- Enable Auto-Trading: Click the "AutoTrading" button in MT5 toolbar (turns green when active)
- Add Allowed URL: Tools → Options → Expert Advisors → Check "Allow WebRequest for listed URL" → Add "https://api.algokits.com"
Important: The allowed URL (https://api.algokits.com) is required for license validation. Without it, EAs won't start.
Install AlgoKits EAs
Download and configure your trading bots
- Download EAs: From your AlgoKits dashboard, download the .ex5 files (Gold Breakout, Nasdaq Breakout, Risk Manager)
- Install Files: In MT5, File → Open Data Folder → MQL5 → Experts → Paste the .ex5 files here
- Restart MT5: Close and reopen MT5 to load the new EAs
- Attach EA to Chart: Open Gold (XAUUSD) chart, set to M1 timeframe, drag Gold Breakout EA onto chart
- Configure Settings: Input tab shows all 24 parameters documented below - adjust based on your preset choice
- Enter License Key: Paste your license key from dashboard into the License Key field
- Click OK: EA validates license and begins trading if all requirements met
Managed Service Users: If you subscribed to our managed service, our team handles steps 1-3 for you. Just provide your VPS credentials and MT5 account details via your dashboard.
Once prerequisites are complete, you're ready to configure the EA settings below ↓
All 24 EA Parameters Explained
Click "Learn More" on any setting to see technical details
License Settings
License Key
stringDefault: (empty - you provide)Your AlgoKits subscription license key. Required for EA to work. Find it in your dashboard after purchase.
EA will not start without a valid license key. Never share your license key with others.
Magic Number
integerDefault: 123456Range: Any integerA unique ID number that helps the EA identify its own orders. Use different numbers if running multiple EAs on the same account.
FakeOut Mode
booleanDefault: falseInverts all trade directions. When enabled, Buy signals become Sell signals and vice versa. Use for testing reverse strategies.
Only enable if you understand contrarian trading. Most users should leave this OFF.
Position Sizing
Position Sizing Mode
enumDefault: Risk PercentageRange: Fixed Lot or Risk PercentageChoose how the EA calculates position size: Fixed Lot (same size every trade) or Risk Percentage (calculated based on your account balance).
Fixed Lot Size
doubleDefault: 3.0Range: 0.01+If using Fixed Lot mode, this is the exact lot size for every trade. Ignored if using Risk Percentage mode.
Large lot sizes can wipe out small accounts quickly. Ensure your account can handle the margin requirement.
Risk Percentage
doubleDefault: 0.8%Range: 0.01% - 10%If using Risk Percentage mode, this is how much of your account balance you risk per trade. Example: 1% risk on $10,000 = $100 max loss per trade.
Risk above 2% per trade is considered very aggressive. Professional traders typically use 0.5-1%.
Max Daily Drawdown
doubleDefault: 1.0%Range: 0.1% - 100%Maximum percentage loss allowed in a single day. If daily loss hits this limit, EA stops trading until next day.
This is your safety net. Set it low enough to protect capital during bad market conditions.
Drawdown Per Magic Number
booleanDefault: trueRange: true or falseWhen true, daily drawdown tracks only this EA's trades. When false, tracks entire account including other EAs and manual trades.
Trade Settings
Take Profit (Pips)
doubleDefault: 80.0Range: 1.0+Distance in pips from entry price where the EA will automatically close the trade with profit.
Stop Loss (Pips)
doubleDefault: 40.0Range: 1.0+Maximum loss in pips before the EA automatically closes the trade. Your risk management safety net.
Stop loss is your protection. Never set it too wide or you risk excessive losses on single trades.
Breakout Entry Offset
doubleDefault: 0.1Range: 0.0+How far beyond the breakout level (in pips/USD) to place pending orders. Helps confirm breakout momentum.
Delete Orders Time
stringDefault: 2330 (11:30 PM)Range: 0000-2359Time each day when EA cancels all pending orders and closes any open positions. Acts as daily reset.
Trailing Stop
Enable Trailing Stop
booleanDefault: trueRange: true or falseWhen enabled, stop loss automatically moves in your favor as trade becomes profitable, locking in gains.
Trailing Start (Pips)
doubleDefault: 10.0Range: 0.0+How many pips profit needed before trailing stop activates. Example: 10 pips means trailing starts once you're up $100 (per lot).
Trailing Stop Distance (Pips)
doubleDefault: 10.0Range: 0.0+Once trailing activates, this is how many pips behind current price the stop loss follows.
Trailing Step (Pips)
doubleDefault: 0.5Range: 0.0+Minimum price movement required before stop loss is adjusted. Prevents over-frequent updates.
London Session Breakout
Enable London Breakout
booleanDefault: trueRange: true or falseEnables strategy that trades breakouts from London trading session range. London session has highest volume and volatility.
London Session Start Time
stringDefault: 1300 (1:00 PM)Range: 0000-2359Time when EA starts tracking London session high/low range.
London Session End Time
stringDefault: 1500 (3:00 PM)Range: 0000-2359Time when EA stops tracking range and places breakout orders above/below the session high/low.
End time must be after Start time. Session duration affects range size - shorter sessions = tighter ranges.
Previous Day Breakout
Enable Previous Day Breakout
booleanDefault: trueRange: true or falseEnables strategy that trades breakouts above yesterday's high or below yesterday's low. Classic momentum strategy.
Daily Order Placement Time
stringDefault: 0100 (1:00 AM)Range: 0000-2359Time each day when EA places previous day breakout orders.
News Filter
Enable News Filter
booleanDefault: trueRange: true or falseWhen enabled, EA pauses trading around major economic news releases to avoid unpredictable volatility.
Disabling news filter exposes you to extreme volatility and slippage during major news events.
Minutes Before News
integerDefault: 5Range: 0-60How many minutes before major news event to cancel pending orders and pause trading.
Minutes After News
integerDefault: 10Range: 0-120How many minutes after news event before EA resumes trading.
Common Questions About Settings
Can I change settings while the EA is running?
Yes, but you need to restart the EA for changes to take effect. Right-click the EA in MT5 > Expert Advisors > Remove, then re-attach with new settings. Existing open trades keep their original parameters.
Which settings should I NEVER change?
License Key - Required for EA operation
Magic Number - Changing disrupts order tracking
News Filter - Protects you from news volatility
All other settings can be adjusted based on your risk tolerance and market conditions.
Why is the EA only showing M1 timeframe requirement?
The breakout strategy requires 1-minute data for precise entry timing and trailing stop management. The EA automatically pauses if you switch to a different timeframe and will resume when you return to M1.
What happens if I set risk too high?
The EA validates risk percentage between 0.01% and 10%. Setting above 2% is very aggressive. Additionally, the EA includes margin safety checks and will reduce position size if it would use more than 90% of your free margin. Always backtest new settings on a demo account first.
Can I run both London and Previous Day strategies together?
Yes! Both can be enabled simultaneously. The EA manages orders from both strategies independently. Just ensure your risk settings account for potentially having multiple positions open. Consider halving your risk per trade if running both strategies.
How do time settings work with different broker time zones?
All time settings use your broker's server time (usually GMT+2 or GMT+3). Check your MT5 "Market Watch" for server time. You may need to adjust London session times based on your broker's offset. For example, if broker is GMT+3 and you want London 13:00-15:00 GMT, set times to 16:00-18:00.
Ready to Get Started?
Now that you understand how the EAs work, see them in action
Questions? Check our comprehensive FAQ