Introduction
As a professional trader and a programmer in the MQL5 community, it is my duty to critically examine trading robots and evaluate their efficacy as objectively as possible. In today's financial deconstruction, we will be examining a trading robot named 'Gold Bloom'.Description of Functions
The Gold Bloom, as it is termed, is a trading robot designed for the competitive Forex market, and it supposedly consists of a range of functionalities that manages trades based on market movement. However, it's critical to note that without access to the actual source code, our analysis will be primarily based on provided descriptions and user reviews.Detailed statistics are provided on their website, but it's been my experience that even the most well-crafted algorithm can fail within the chaotic world of the Forex market.
Analysis of Results
Going by the reviews, the performance of the Gold Bloom robot is as ambiguous as the weather. One user claimed that the robot performs well in backtesting, with minimal optimization required. However, another user’s review paints a different story with ten consecutive losses. Critically, the robot has received a moderate rating of 3 out of 5, which hardly makes it an undisputed champion in the market.Pros and Cons
The positive aspect of this trading robot, as per user observations, includes its performance in backtesting, while adverse results in real-time trading cast a long and unignorable shadow over its efficacy. And, my friends, in the trading world, real accounts are the actual test, not demo or backtesting.Source Code of Gold Bloom
Without the original source code of Gold Bloom, it's akin to diagnosing an illness without an actual medical examination. However, based on the description provided on the MQL5 website where the robot is sold, an extrapolated code can be created. This reconstructed code, available at easytradingforum.com, is intended to help individuals better understand how the robot might function algorithmically. But bear in mind, it's like learning to understand a Beethoven symphony by reading sheet music. You might get the idea, but it's nowhere close to listening to the music.
Code:
You don't have permission to view the code content. Log in or register now.Download Gold Bloom and Join the Discussion
If you're brave enough or simply curious, you can give the Gold Bloom trading robot a spin. It's available for download at forexroboteasy.com/trading-robot/gold-bloom/.Do remember to share your experiences on the Easy Trading Forum. Discussions, questions, bursts of frustration... it's all part of the game. For questions about the code, feel free to ask - just not too hard, as we only have the description-based code.
Disclaimer: The EASY Trading Team neither sells the Gold Bloom robot nor endorses its performance. We've merely created a code based on its description as a service to the wider trading community.
