This Trend Following EA is an automated Gold MT4 EA specially developed for the XAUUSD(Gold) pair. Historically known as a safe-haven asset, gold is one of the most liquid and frequently traded instruments globally. This article provides an objective analysis of its features and functionalities.
Gold MT4 EA opens orders based on signals from a proprietary indicator. This indicator adheres to a “Trend Follow” strategy. Simply put, Gold Stuff EA aims to capitalize on the momentum of the gold market, entering trades that align with the current trend. This approach is quite popular in various trading sectors, as following the trend can often lead to profitable outcomes.
Double-Edged Sword of this Trend Following EA
A critical aspect of Trend Following EA is its use of the martingale strategy. This approach involves doubling down on a trading position after a loss to recover previous losses and gain a profit. While this can lead to impressive short-term gains, the martingale strategy is notorious for its high-risk profile. It’s a strategy that requires significant capital and strong risk management, as a series of losses can lead to substantial financial damage.
Applying the martingale strategy makes this Gold MT4 EA a particularly risky tool. Mathematically, this strategy is flawed for long-term success. Potential users must understand there’s always a risk of losing their invested capital. This fact isn’t just theoretical and can be observed in real-time trading scenarios like live MQL5 signals.
The current live mql5 results of this Trend Following EA may appear impressive, showcasing the potential of the EA under certain market conditions. However, it’s important to note that past live result accounts associated with this EA have been deleted. This raises concerns, as it suggests these accounts may have suffered significant losses, potentially due to the risky martingale strategy.
One strategy With this Gold Stuff EA is to profit fast and then withdraw fast. Of course, this is a grail, and with such a risk, the adviser will someday drain the deposit. But the main rule is to withdraw the deposit after doubling the deposit.
Recommendations
- Minimum Account Balance of 3000$ or equivalent cent account.
- The EA was specially made to work on XAUUSD. It can also work on Silver and USDCHF, GBPCAD, USDCAD, EURUSD, GBPUSD.
- It works best on M15. (Work on any TimeFrame)
