Welcome to Our Best EA Forex Website. As a result, you’ll love reading about Gold EA today. We’ll go over all of the important details you’ll need to know about gold trading. Sit back and read this article all the way through to make sure you don’t miss anything.
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What is Gold EA?
Gold Expert Advisor is one-of-a-kind and fully automated gold trading system. It’s software that executes trades and applies trading rules automatically. The trading strategy’s entry and exit conditions are included in the Expert Advisor, which is a code. Once the market meets the requirements, the Expert Advisor will complete the deal.
An Expert Advisor may trade any asset that a broker provides on MetaTrader. If your broker offers Gold and allows algorithmic trading, you may utilize Expert Advisor for Gold. The most popular platform is MetaTrader. The majority of licensed brokers utilize it since it is a free platform. As a consequence, trading with Gold Expert Advisors becomes a lot easier.
Which is the Best Gold EA?
The Promax Gold EA is a fully automated trading system that specializes in gold (XAU/USD) trading. It runs on the MetaTrader 4 desktop platform, which most online brokers provide for free.
The business behind the Promax Gold EA is My EA Academy, often known as SinryAdvice.
On MetaTrader 4, the Promax Gold EA only works with the XAU/USD pair. If you have the necessary expertise and understanding, you can study numerous trading instruments. It’s ready to use “straight out of the box” in every other way. Simply choose a risk level that is comfortable for you, as each trader is different.
With so many forex robots on the market these days, determining which ones are beneficial and which are detrimental may be tough.
It’s important to keep in mind that if the Promax Gold EA traders lose money, they will start constructing a smart grid to try to get them back to breakeven without losing money. The problem is that if transactions do not return to breakeven, things might easily spiral out of control. Grid trading strategies aren’t my favorite because they usually result in margin calls and stop-outs. Make sure you understand how grid trading works and the significant risks it includes before you select it.
Take a glance at some of the Promax Gold EA’s key features:
- Fully Automatic – Hands-Free Trading
- Auto money management and lot selection
- Only for the XAU/USD (GOLD) pair
- 5-minute chart timeframe
- Comes with default settings out of the box (risk can be adjusted accordingly)
- Full set up instruction guide included
- 1 Demo 1 Live account license
- Complete Assistance
Backtests are not available on the Promax Gold EA website, as they are with other SinryAdvice products I’ve reviewed. Despite the fact that the developer has provided Myfxbook accounts, I’d want to see long-term backtesting to have a sense of how the Promax Gold EA has performed in the past.
I expect backtesting to have 99 percent modeling quality using tick data, variable spreads, fees, and slippage. The Birts Tick Data Suite is an excellent tool for enhancing back-testing conditions in the MetaTrader 4 strategy tester.
There are numerous verified Promax Gold EA Myfxbook accounts on the developer’s website. However, I feel they haven’t been in business long enough to give an accurate review of Promax Gold EA’s performance. Any trading strategy can have a winning streak of a few months; therefore, I’d want to see results over a longer period. In any case, the developer should be commended for making them available.
Promax Gold EA was created by the Sinry Advice team, which is known for systems such as Red Fox EA and MT Forex Indicator, among others. This company’s headquarters are in Selangor, Malaysia. However, we have no information about the team members, which is insufficient in terms of vendor transparency.
There are no user reviews for Promax Gold EA on popular review websites. This is understandable, considering that most traders are hesitant to invest in a strategy with such a short track record. It might take months of real-time trading before the general public discovers this robot.
The system is now $192 cheaper, and those who want the EA may buy it for $198 instead of $390. The package includes one Real and one Demo account. There is also a two-week money-back guarantee. The majority of FX EAs start at $350 and go up from there, thus the price is reasonable.
- Money-back guarantee
- Real-time trading results
- No backtesting results
- Vendor transparency is insufficient
- Grid and Martingale combo
- False endorsements