Introduction
Gold Extractor, an automated trading system designed for XAUUSD, promises to leverage fundamental data like US10Y and iShares TIPS Bond ETF to predict gold movements and execute trades. With a rating of 4.29 and mixed user reviews, it's time to dissect this robot's performance and see if it truly holds any gold.Description of Features
Gold Extractor boasts several advanced features:- Scalping Strategy: Utilizes real-time data and economic news for informed trading decisions.
- Martingale Recovery: Customizable steps to recover from losses by increasing trade size.
- Auto-Close Function: Exits trades at optimal points to minimize losses and lock in profits.
- Trailing Stop: Secures profits as the market moves in favor.
- Manual Trading Panel: User-friendly interface for placing, modifying, and closing trades manually.
- Risk Management: Options for setting maximum drawdown limits and trade size limits.
Performance Analysis
Over the past year, Gold Extractor has shown a mixed bag of results. Some users have reported significant gains, while others have experienced devastating losses. For instance, one user managed to make $96 on a $200 account within a short period, highlighting the EA's potential. However, another user lamented a complete account blowout due to high drawdown levels. This variability underscores the importance of understanding the EA's parameters and market dynamics.Pros and Cons
Pros:- Advanced features like martingale recovery and trailing stop.
- User-friendly manual trading panel.
- Potential for significant gains when used correctly.
Cons:
- High risk due to martingale strategy.
- Performance highly dependent on market conditions and user expertise.
- Mixed user reviews with some reporting substantial losses.
Conclusion
Gold Extractor offers a range of advanced features that can be highly effective when used correctly. However, its performance is highly variable and dependent on market conditions and user expertise. Traders should approach this EA with caution and ensure they have a solid risk management strategy in place.Source Code of Gold Extractor
We do not have access to the original source code of the Gold Extractor robot sold on MQL5. However, based on the description provided on the MQL5 website, we have created a sample code. This example is for educational purposes and should not be considered the original code. If you have any questions about the code, feel free to ask.
Code:
You don't have permission to view the code content. Log in or register now.