The Gold Trading EA is an automated forex robot meticulously crafted to specialize in trading exclusively on the XAUUSD (GOLD) pair. Hence, it is strongly advised against using it on any other currency pair. Trading in the Forex Gold Trading EA can be both highly profitable and riskier compared to other pairs.
Consequently, having the right tool at your disposal is a crucial aspect of navigating the gold trading terrain.
Forex Gold Trading EA
This EA operates as a risk scalper, actively utilizing martingale Best forex robot and dynamic grids to facilitate quicker withdrawals and reduce the number of trades. Since each trading cycle functions independently, you can potentially have Expert Advisor several cycles running concurrently. You can define a maximum number of simultaneous cycles as per your preferences.
A cycle in this context refers to a trading strategy with its own unique signal, entry point, and exit strategy.
Each cycle operates independently, comprising multiple orders, and includes its own signal, breakeven point, and a take profit set to be greater than or equal to [MinProfit].
Advanced Gold Trading EA (Robot)
For traders with smaller account balances, it’s possible to specify the number of active cycles based on their current balance.
However, it’s essential to exercise caution. For instance, XARD Indicator with an initial lot size of 0.01, the stop loss for one cycle equals $100.
If you begin with just $100 in your account, you run the risk of losing your entire balance.
This impressive gold trading robot has been running on the MQL5 live signal for over two months, demonstrating a favorable profit-to-drawdown ratio. The developers assert that it comes pre-optimized for the gold pair right out of the box and doesn’t require parameter tweaking.
Nonetheless, users have the flexibility Cross Grid Robot to adjust input parameters and optimize them to suit their specific requirements.
The EA is also equipped with a news filter designed to prevent uncontrolled slippage during high-impact news events, such as NFE/NFP or FOMC announcements.
Free Gold Trading Robot for MT4 and MT5
- A minimum account balance of $1000 or an equivalent cent account is recommended.
- It performs exceptionally well on the XAUUSD (GOLD) and EURUSD pairs (but can potentially work on any pair).
- While the EA can operate on various timeframes in live trading, for more accurate testing, it is advisable to use the M1 timeframe.
- It’s important to note that Gold Trading EA is not recommended for beginners. A solid understanding of how MT4 and this EA function is crucial before going live.
- The News Filter feature does not function during back testing, potentially leading to inaccurate results.
- It’s employed in live trading to help the EA ADX Indicator filter out unfavorable trades and limit drawdown.
- Running this Gold Trading EA on a VPS (Virtual Private Server) 24/5 is recommended for reliability and consistent performance.
- An ECN (Electronic Communication Network) account with low spreads is also suggested for optimal results.