August Forex Golem Review
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:
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It’s designed to trade on MT4.
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It supports a 5-digits broker.
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It uses Fibonacci Retracement and several indicators to find trade opportunities.
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The main strategy is Grid-based trading.
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The EA uses hedging, so this option should be allowed on a broker we use.
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It can optimize itself (?) in real-time.
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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.
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The best results can be obtained on the M1 time frame.
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We can trade with any deposit (?).
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The EA supports Standard, Mini, and Micro accounts.
Backtest Data Analysis
The vendor provided no backtest reports.
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.
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.
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.
As we can see, the SELL direction has brought crucial losses (-$2408.17), having got 0.66 of the Profit Factor.
It has only one system on the board.
Trading activity is weird because on calm, full days - Monday and Friday were closed more deals than in other ones.
It trades almost all sessions equally by the number of opened trades.
Both activity (9 deals with a 56% win-rate) and monthly gain (+2.4%) were scam-like in October 2020.
The company
The company connected the second version of the EA after the first zeroed the account and was stopped.
Many people experienced not the proper behavior of the company and EA’s weird performance.
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.
Here, we have an explanation of why the EA sells only through PayPal.
Review Summary
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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