This Trend Following EA is an automated Gold MT4 EA specially developed for the XAUUSD(Gold) pair. Historically known as a safe-haven asset, gold is one of the most liquid and frequently traded instruments globally. This article provides an objective analysis of its features and functionalities.
Gold MT4 EA opens orders based on signals from a proprietary indicator. This indicator adheres to a “Trend Follow” strategy. Simply put, it aims to capitalize on the momentum of the gold market, entering trades that align with the current trend. This approach is quite popular in various trading sectors, as following the trend can often lead to profitable outcomes.
Double-Edged Sword of this Trend Following EA
A critical aspect of Trend Following EA is its use of the martingale strategy. This approach involves doubling down on a trading position after a loss to recover previous losses and gain a profit. While this can lead to impressive short-term gains, the martingale strategy is notorious for its high-risk profile. It’s a strategy that requires significant capital and strong risk management, as a series of losses can lead to substantial financial damage.
Applying the martingale strategy makes this Gold MT4 EA a particularly risky tool. Mathematically, this strategy is flawed for long-term success. Potential users must understand there’s always a risk of losing their invested capital. This fact isn’t just theoretical and can be observed in real-time trading scenarios like live MQL5 signals.
The current live mql5 results of this Trend Following EA may appear impressive, showcasing the potential of the EA under certain market conditions. However, it’s important to note that past live result accounts associated with this EA have been deleted. This raises concerns, as it suggests these accounts may have suffered significant losses, potentially due to the risky martingale strategy.
One strategy With this EA is to profit fast and then withdraw fast. Of course, this is a grail, and with such a risk, the adviser will someday drain the deposit. But the main rule is to withdraw the deposit after doubling the deposit.
Please test in a demo account first for at least a week. Also, please familiarize yourself and understand how this Gold MT4 Robot works, then only use it in a real account.
Recommendations for this Gold MT4 EA
- Minimum Account Balance of 3000$ or equivalent cent account.
- The EA was specially made to work on XAUUSD. It can also work on Silver and USDCHF, GBPCAD, USDCAD, EURUSD, GBPUSD.
- It works best on M15. (Work on any TimeFrame)
- This Gold MT4 EA should work on VPS continuously to reach stable results. So we recommend running this MT4 EA Download on a reliable VPS (Reliable and Trusted FOREX VPS – FXVM)
- The EA is NOT sensitive to spread and slippage. But We advise using a good ECN broker (Find the Perfect Broker For You Here)
EA Control Panel Explained
- Trade Buy/Sell – Clicking this button and turning it red will disable new buy or sell orders for the upcoming series while still managing existing orders until the Take Profit of the current series is reached. After achieving profit, no new buy or sell orders will be opened.
- Pause Buy/Sell – Clicking this button turns it red, pausing all buy or sell positions, and the EA will not add more. Once you click it again and it turns green, positions will resume, and the EA will continue to control open trades.
- New Series – Clicking this button allows the EA to enter new orders until the current series of transactions is closed. After closure, it won’t open new orders. If there are no open trades when clicked, the EA will not start a new cycle.
You can limit the EA’s operation to specific times by setting the “Start Hour” and “End Hour. ” After the “End Hour,” the EA manages open trades until they hit the Take Profit. Then, it will remain inactive until the next “Start Hour” begins.
- Open Order – Clicking this opens either a buy or sell order, depending on your selection, with the lot size as indicated.
- Close Order – Clicking this closes all orders, whether buy or sell.
Checkout Reviews of This EA HERE
Trend Following Gold MT4 EA presents a complex scenario for traders interested in gold. On one hand, its trend-following strategy and advanced algorithm offer a sophisticated tool for navigating the gold market. On the other hand, its reliance on the high-risk martingale strategy cannot be overlooked. This Trend Following EA embodies the quintessential risk-reward paradox of financial trading. As with any trading tool or strategy, due diligence, comprehensive understanding, and cautious investment are paramount. Potential users must be prepared for the high risks involved and consider whether the potential rewards justify these risks.