Forex EA Settings Guides

Galaxy PropFirm EA MT5: A Comprehensive Guide to Input Parameters

Posted on by Jason Chen
Table of Contents

Galaxy PropFirm EA MT5: A Comprehensive Guide to Input Parameters

Galaxy PropFirm EA MT5 is specifically designed to help traders pass proprietary trading firm challenges like FTMO through its AI-driven trading algorithm. This guide details the key parameters to effectively customize the EA according to your trading style and risk tolerance. Utilizing artificial intelligence and trend-following strategies across multiple currency pairs, this EA aims to deliver consistent profits while maintaining controlled drawdown levels.

You can find more details about the Galaxy PropFirm EA product here.

Detailed Analysis of Input Settings of Galaxy PropFirm EA MT5

The Galaxy PropFirm EA MT5 organizes its parameters into several functional groups: identification, risk management, lot sizing, trade execution, time settings, and advanced options.

Galaxy PropFirm EA MT5 Inputs.jpg

Identification Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Magic NumberUnique identifier for trades placed by this EA71823Any unique numberDistinguishes EA trades from others
PairCurrency pairs the EA will tradeNZDCAD, EURCAD, USDCHF, AUDUSD, CADJPY, EURCHF, EURJPY, GBPNZDUse default pairs or adjust based on your prop firm requirementsAffects diversification and overall performance
SuffixBroker-specific symbol suffixNot specifiedDependent on broker (e.g., “.a”, “-ecn”)Ensures correct symbol recognition
PrefixBroker-specific symbol prefixNot specifiedDependent on broker (e.g., “fx”, “m”)Ensures correct symbol recognition

Risk Management Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Auto LotEnables automatic lot size calculation based on account balancetruetrue/falseAdapts position sizing to account changes
RiskPercentage of account balance risked per trade1.00.5-2.0% (conservative to moderate)Higher values increase potential profit but also potential loss
Max DrawDown to close allPercentage drawdown that triggers closing of all positions80.05.0-20.0% (more conservative than default)Lower values provide earlier protection; default is very aggressive
TP multiplierMultiplier applied to calculate Take Profit distance1.00.8-2.0Higher values set wider Take Profit targets
SL multiplierMultiplier applied to calculate Stop Loss distance1.00.8-1.5Higher values set wider Stop Loss levels
Pips distance to trailing stoplossDistance maintained between price and trailing stop in pips05-20 pips (0 disables trailing)Affects profit protection; 0 means no trailing
Pips to start trailing stoplossPrice movement in pips required to activate trailing stop2010-30 pipsDetermines when profit protection begins

Lot Sizing Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Fixed LotStatic lot size used when Auto Lot is disabled0.10.01-0.5 (depending on account size)Directly impacts position size and risk exposure
Min LotMinimum lot size even when auto calculation suggests lower0.050.01-0.1Ensures minimum trade size
Max LotMaximum lot size limit for any trade60.00.5-5.0 (much lower than default)Prevents excessively large positions; default is very aggressive

Trading Conditions Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Max Spread in PointMaximum allowed spread for opening trades140.020-100 pointsLower values avoid trading during volatile/illiquid conditions
Allow only one order per pairRestricts to single open position per currency pairfalsetrue/falseTrue reduces risk exposure but may limit opportunities
FTMO RandomizerAdds variation to trade parameters for prop firm compatibilityfalsetrue/falseCan help avoid detection of automated trading

Time Settings

Parameter NameDescriptionDefault ValueRange/Recommended ValuesImpact
Trading Start TimeHour when EA begins trading each day00:01Adjust to active market sessionsControls when EA can open new positions
Trading End TimeHour when EA stops trading each day23:59Adjust to avoid quiet periodsControls when EA stops opening new positions
Trade on Fridays?Whether to allow trading on Fridaystruefalse for conservative approachFalse avoids weekend gap risk

Summary and Recommendations

  • Reduce Max DrawDown setting from 80% to 10-15% for safer risk management.
  • Lower Max Lot from 60.0 to a maximum of 5.0 lots for most account sizes.
  • Consider disabling Friday trading to avoid weekend gap exposure.
  • Verify prop firm rules before enabling FTMO Randomizer feature.
  • Use a reliable VPS like MyfxVPS.com for stable EA operation.
  • Backtest thoroughly with historical data from 2010-2023 before live trading.
  • Maintain at least $200 minimum capital with recommended 1:1 leverage or higher.
  • Consider using recommended brokers (Exness, HTFX) for optimal execution.
  • Double-check whether spread values are in points (10 points = 1 pip for 5-digit brokers).
  • Start with lower risk settings (0.5-1%) until familiar with EA performance.
  • Confirm all Stop Loss settings comply with your prop firm requirements.
  • Verify server time alignment with trading session settings.

Important Risk Warning

Trading forex with expert advisors involves substantial risk of loss. Past performance is not indicative of future results, and market conditions can change rapidly. You are solely responsible for proper EA installation, parameter configuration, and risk management. Always test thoroughly in a demo environment first, and never invest money you cannot afford to lose. The developer of Galaxy PropFirm EA MT5 cannot guarantee profits or be held responsible for trading losses.

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Jason Chen

I'm Jason Chen, the founder of EaOnWay.com. With over 15 years in Forex trading and a background in Computer Science, I started EaOnWay to cut through the noise and hype. My goal is to give you clear, honest insights and practical, risk-aware education about Forex Expert Advisors, so you can trade with more confidence

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