How to install and run Windows XP operating system on an external hard drive or USB flash drive?

I know this question may be duplicated as follows:

but their 'answers' are neither answering the question, nor containing up-to-date materials.

So my question is:

1. How to install Windows XP operating system on an external hard drive or USB flash drive?
   
   
   
   • Not to install Windows XP operating system from an external hard drive or USB flash drive.
   
   


2. After the above step, how to boot/run Windows XP operating system from the external hard drive or USB flash drive?
   
   
   
   • Not to boot Windows XP installation setup from an external hard drive or USB flash drive.
   
   

The reason I ask so clearly is as follows:

1. I successfully installed Windows 7 Ultimate operating system on an external hard drive by using WinToUSB Enterprise. I can boot it from the external hard drive and use it like normal.


2. I also want to do the same thing with Windows XP like the above. But WinToUSB gave me an error: Cannot find bootable image.(0x000000C401510000) and there is no solution online.

Please help me with solution like the software I used, thanks!

Added (about the hack in the comment):

I have no confidence to install a modified Windows XP setup.

So I need volunteers to test it.

1. Materials:
   


2. Requirements:
   
   
   
   • An existing Windows install for carrying out the steps in this tutorial
   
   
   • A USB2-compliant Hard disk drive (or a big USB2 stick, see remarks below)
   
   
   • An original Windows XP CD (tested only against SP1 so far, but reported to work on other versions)
   
   
   • A registered version of WinISO (or any other software that allows direct editing of ISO files)
   
   
   • The Microsoft CAB SDK
   
   
   • A CD-burning software that can handle ISO files. I like the free burnatonce