August Forex Golem Review

Nov 24, 2020 03:50 PM ET
August Forex Golem Review

August Forex Golem

Type

Fully-automated EA

Price

$197

Strategy

Grid

Compatible Platforms

MT4

Currency Pairs

EUR/GBP, EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD, EUR/CHF, GBP/CHF, EUR/CAD, EUR/AUD, USD/SGD, NZD/USD, EUR/NZD, AUD/NZD, AUD/CAD, AUD/CHF, CAD/CHF, and others

Timeframe

M1

Recommended Min. Deposit

n/a ($1000)

Recommended Deposit

n/a (from $1000)

Leverage

n/a

Trade length

over 46 hours

 

August Forex Golem presentation

August Forex Golem has an unprofessional presentation that’s designed for several hours. There are just several pages of the info.

Trading Strategy Explanation

The list of robot’s features looks like this:

  • It’s designed to trade on MT4.

  • It supports a 5-digits broker.

  • It uses Fibonacci Retracement and several indicators to find trade opportunities.

  • The main strategy is Grid-based trading.

  • The EA uses hedging, so this option should be allowed on a broker we use.

  • It can optimize itself (?) in real-time. 

  • The robot can work with EUR/GBP, EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD, EUR/CHF, GBP/CHF, EUR/CAD, EUR/AUD, USD/SGD, NZD/USD, EUR/NZD, AUD/NZD, AUD/CAD, AUD/CHF, CAD/CHF, and others.

  • The best results can be obtained on the M1 time frame.

  • We can trade with any deposit (?).

  • The EA supports Standard, Mini, and Micro accounts.

Backtest Data Analysis

The vendor provided no backtest reports. 

Live Trading Data Analysis

Trading Results

Myfxbook Account

Demo (USD)

Started

Oct 14, 2019

Deposit

$1000

Balance

$2545.52

Gain

+154.6%

Daily

n/a

Monthly

+7.1%

Drawdown

-26.5%

Profitability

1.14

 

August Forex Golem Live Trading Data Analysis

We have only a demo USD account as a third-party-verified one. It was created on October 14, 2019, and funded at $1000.

August Forex Golem Live Trading Data Analysis

The total return is +154.6% for 401 days. An average monthly gain is +7.1%. The maximum drawdown was -26.5%. The win-rate is only 62.5%. The Profit Factor is impossibly low (1.14). An average trade frequency is several trades daily.

August Forex Golem Live Trading Data Analysis

The robot works with low risks to the account balance. An average win is +$24.30. An average loss is a bit higher and equals -$35.54. 

August Forex Golem Live Trading Data Analysis

As we can see, the SELL direction has brought crucial losses (-$2408.17), having got 0.66 of the Profit Factor.

August Forex Golem Live Trading Data Analysis

It has only one system on the board.

August Forex Golem Live Trading Data Analysis

Trading activity is weird because on calm, full days - Monday and Friday were closed more deals than in other ones.

August Forex Golem Live Trading Data Analysis

It trades almost all sessions equally by the number of opened trades.

August Forex Golem Live Trading Data Analysis

Both activity (9 deals with a 56% win-rate) and monthly gain (+2.4%) were scam-like in October 2020. 

The company

August Forex Golem The company

The company connected the second version of the EA after the first zeroed the account and was stopped. 

August Forex Golem customer reviews

Many people experienced not the proper behavior of the company and EA’s weird performance.

Pricing

August Forex Golem Pricing

We don’t know if the vendor knows it’s 2020. Compact discs are far from there, like dinos. The EA costs $197 with $53 OFF. The devs told us nothing about the package’s features.

 

August Forex Golem customer reviews

Here, we have an explanation of why the EA sells only through PayPal.

Review Summary

Pros

Cons

  • No pros
  • Scam-like presentation
 
  • No settings explanations provided
 
  • No features explanations provided
 
  • No backtests provided
 
  • Only demo account trading results
 
  • The previous account was zeroed
 
  • Good-for-nothing October 2020 trading results

Conclusion

August Forex Golem is a scam. They screwed their customers after the EA crashed the first account. They fixed the robot a bit and opened the second account, but this time a demo one. It traded mediocre with a low Profit Factor. Everything was going worse in October 2020. August Forex Golem has opened only nine deals instead of 45-100 ones. For the three weeks of November, it’s traded only six deals. It looks like the EA is going to die.

Rating: 0/10


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