Gold Scalper Pro Review

Jun 8, 2020 09:36 AM ET
Gold Scalper Pro Review

Gold Scalper Pro is an Expert Advisor, marketed, and produced by the fxautomater team. This EA can be used by traders who are of varied experience levels. It exclusively trades on Gold (XAU/USD) which makes it quite different from most other EAs. Traders can simply attach it to their XAU/USD chart on their MetaTrader 4 charts after which it would place, manage, and close trades on the trader’s behalf automatically. 

Gold Scalper Pro aims to present traders with an effective expert advisor for memorable trading experience.

Some of the features of this EA include the following: 

  • Built-in Money Management System: This allows the traders to set a risk in percentage after which the robot automatically calculates the required lot size according to the set risk and the trader’s free margin. 

  • Advanced News Filter: Helps traders keep track of important news and events and can avoid trading at certain times accordingly.

  • Time management System: This feature allows traders to precisely configure the robot to trade at specific hours, including setting individual workdays. 

  • Friday Exit System: This feature allows traders to configure the robot to close all trades on a Friday evening at a desired, pre-determined time. 

  • Notifications: The EA can send emails and push notifications directly to their mobile device. 

  • Manual Trading: This function allows users to manually open trades which would be managed automatically by the EA. This feature is not so often seen in other EAs of its type. 

Just like many of the other EAs under fxautomater group, Gold Scalper Pro is priced at $77. It comes with a single real account and three demo accounts and 60 money-back guarantees. 

Gold Scalper Pro EA

Type

Fully-automated EA

Price

$77

Strategy

Undisclosed

Compatible Platforms

MT4, MT5

Currency Pairs

XAU/USD

Timeframe

Multiple 

Recommended Min. Deposit

-

Recommended Deposit

-

Leverage

-

Trading Strategy Explanation

As far as we can tell, the Gold Scalper Pro EA aims to enter in the direction of a distinctive market impulse and following correction that ensues. This is a principle that traders have followed ever since the first trading markets existed. The website explains that the EA does not use any martingale, grid, or another risky strategy. It instead applies a typical classic trading strategy that utilises a reasonable stop loss with built-in entry and exit trading logic. For money management, Gold Scalper Pro provides an optional ATR based algorithm. 

Back-test Data Analysis

Gold Scalper Pro EA provides 4 separate back-tests for us to examine. We shall take the first one for the purpose of this review. 

Gold Scalper Pro Back-test Data Analysis

The back-test is for the period between 2004- 2018. It has a maximum drawdown of 8.85% and has executed a total of 1313 trades. Apart from the back-tests provided, the website also contains instructions on how traders themselves can conduct their own back-test on the EA.

Live Trading Data Analysis

Gold Scalper has provided us live statistics to a demo account hosted on myfxbook.com. 

Trading Results

Myfxbook Account

Demo (USD), IC Markets

Started

August 29th, 2019

Deposit

$1000

Balance

$1207.68

Gain

20.77%

Daily

0.07%

Monthly

2.14%

Drawdown

3.59%

Profitability

78% - 95%

 

Gold Scalper Pro EA Myfxbook

The above screenshots show us how the account has gained about 21% and a drawdown percentage of 3.59%. While we appreciate the fact that Gold Scalper Pro EA has provided us with live trading statistics, a real account would’ve been more preferable than a demo account. This is because there are many EAs that have good results in demo accounts but fail to replicate the same in real accounts. 

Review Summary

Pros

Cons

  • Multiple useful features

  • Live account statistics not satisfactory

  • Trades on gold

  • Trading strategy not fully explained

Conclusion

Gold Scalper Pro EA has some good things to offer, including the ability to let traders manually put in orders. It is reasonably priced and the vendor has gone into immense detail while describing the product. However, we would definitely look forward to seeing some results from a real account before we can conclusively recommend it to other traders.


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