Gold Scalpers Pro ships with the settings its backtests used, so the first rule is simple: attach it with the defaults, read the pre-flight report in the Experts journal, and change only what this guide tells you to. Everything below refers to version 4.50.
1. Lot size by account size
The one input every buyer must set is FixedLot. Size it from the bad stretch, not the good month: over eight months of real ticks the default setup’s worst drawdown was about a quarter of a $1,000 account at 0.01 lot (25.6%). The Low drawdown preset’s worst was about a tenth (10.3%).
| Account | Same risk as the backtest (0.01 per $1,000) | Half the risk (0.01 per $2,000) |
|---|---|---|
| $1,000 | 0.01 | use 0.01 + Low drawdown preset |
| $2,000 | 0.02 | 0.01 |
| $5,000 | 0.05 | 0.02 |
| $10,000 | 0.10 | 0.05 |
| $25,000 | 0.25 | 0.12 |
| $50,000 | 0.50 | 0.25 |
| $100,000 | 1.00 | 0.50 |
Below $1,000 the minimum lot (0.01) is already more risk than the tests; if you start there, use the Low drawdown preset and accept a larger percentage swing. A future drawdown can be bigger than any backtest.
2. Prop-firm setup (FTMO-style 5% daily / 10% max)
| Input | Set to | Why |
|---|---|---|
PropFirmMode | true | Enforces the limits below from balance baselines, with a hard stop on a breach |
PropDailyLossPct | 4 | Stops for the day before a 5% firm limit |
PropMaxDrawdownPct | 8 | Stops before a 10% firm limit |
StrategyPreset | Low drawdown (NY only) | Trades New York 13:00–19:00 server time; 10.3% worst drawdown in the 8-month test |
FixedLot | 0.04 per $10,000 | Keeps the preset’s worst backtest drawdown near 4% of the account – under half the firm’s limit |
Check your firm’s own rules: some measure daily loss from equity, some from balance, and some restrict third-party EAs. More detail in how to pass a prop firm challenge on gold.
3. Sessions and news
All four sessions are on (SessSydney, SessTokyo, SessLondon, SessNewYork), timed in your broker’s server time. Two cut-offs are on by default: no new trades in the first 2 hours of Sydney (SydneyOpenSkipHours) or the last 2 hours of New York (NYLateCutoffHours) – the thinnest hours of gold’s day. The news filter (NewsFilter) pauses new entries 30 minutes either side of high-impact USD releases from the MT5 calendar. Leave these on unless you have tested otherwise; see the best time to trade gold for why.
4. Stops, break-even and targets
| Input | Default | What it does |
|---|---|---|
SwingSLBufferPips | 20 | Buffer beyond the swing stop on cross entries |
ColourSLCandles | 3 | Turn entries: stop beyond the extreme of the last 3 candles |
BreakEvenPips / BreakEvenLockPips | 300 / 300 | At +300 pips the stop moves to lock 300 pips |
TakeProfitPips | 1200 | Target for cross entries |
ColourTPPips | 300 | Target for turn entries |
UseScaleIn | false | Adding to winners – it cost money in testing, so it stays off |
These are the inputs most often “improved” after one good week. Change them only after a multi-month test in the Strategy Tester – how to backtest an MT5 EA shows how.
5. Risk limits
| Input | Default | Notes |
|---|---|---|
MaxDrawdownPct | 16 | Closes positions and pauses for the day; the next day resumes on its own |
DrawdownWarnPct | 10 | Early alert with how close the stop is |
MaxTradesPerDay | 14 | New trades per day |
MaxOpenPositions | 4 | Positions the EA may hold at once |
MaxSpreadPips | 30 | No entry while the spread is wider |
DailyProfitTarget | 200 | Account currency; at small lots it rarely triggers |
6. AI news trading (website edition)
HotStoryTrade (on by default) opens one trade per ForexFactory story that names a side with confidence 3 or more (HotStoryMinConfidence), with the 50 EMA on that symbol, a stop beyond the last two candles capped at 600 pips and a 1,000-pip target. These trades cannot be backtested. Set HotStoryTrade = false if you only want the measured rules; HotStoryLot lets you trade them smaller than FixedLot.
7. What to leave alone
Timeframe(M5),SlopePeriod(10) andEmaPeriod(50) – the backtests depend on them.- The MACD and chop filters – turning them off adds trades, mostly bad ones.
- The licence and WebRequest setup – without
https://goldscalpers.comin the WebRequest list the EA cannot confirm its licence.
Still deciding? Read the honest review and the backtest results.
FAQ
What lot size should I use with Gold Scalpers Pro?
0.01 lot per $1,000 matches the backtests, where the worst drawdown over eight months was about a quarter of the account. 0.01 per $2,000 roughly halves that. Below $2,000, use 0.01 with the Low drawdown preset.
What are the best Gold Scalpers Pro settings for a prop firm?
Turn on PropFirmMode (daily loss 4%, max drawdown 8%, inside a 5%/10% firm), choose the Low drawdown (NY only) preset, and size about 0.04 lot per $10,000 so the worst backtest drawdown is under half of the firm's limit.
Should I change the default settings?
Start with the defaults. They are what the published backtests used. Change lot size and the prop-firm block first; leave the entry, stop and target inputs until you have tested a change over several months.
How do I turn off news trading?
Set HotStoryTrade = false. The news row stays on the chart for information, and the EA only trades its measured Slope / 50 EMA rules.