Gold Rage EA claims to be a fully automated trading system for Gold, promising to capture the strongest movements in the gold market. However, despite its bold assertions, this EA falls short in various aspects, making it a risky and unsatisfactory choice for traders.
Gold Rage EA Review
Gold Rage EA markets itself as a Forex expert advisor for XAUUSD on a 15-minute chart. It prides itself on not using grid, martingale, AI, or neural network strategies. Instead, it relies on a channel and stochastic strategy mechanism. While the algorithm supposedly has open parameters for optimization, the lack of transparency in its strategy raises concerns.
One touted feature is the system’s ability to trade during the day when the gold market is at its most volatile. It claims to determine broker GMT independently and incorporates a news filter to avoid trading during significant events. The inclusion of virtual profit tracking is presented as a means to hide the system’s behavior from the broker.
How It Works
Gold Rage EA operates on the XAUUSD M15 chart, using a channel and stochastic strategy mechanism. However, the exact details of this strategy remain undisclosed, leaving users in the dark about the EA’s decision-making process.
The lack of transparency is a significant drawback for traders seeking to understand the logic behind their investments.
Risk Management
While the system claims to have fixed stop-losses and virtual profit tracking, it fails to provide sufficient information about how these features function. Moreover, the vague mention of built-in protection against hacking using msimg/oleacc/versions raises more questions than answers, making it difficult for traders to trust the system’s security.
Pros:
- Forward settings and optimization until 2022 suggest some level of commitment to updates.
- It includes a news filter to avoid trading during significant events.
Cons:
- Lack of transparency regarding the trading strategy, making it impossible for traders to evaluate its effectiveness.
- Unclear risk management mechanisms, which can lead to significant losses.
- No information on historical performance or backtesting results.
- The system’s sensitivity to spread and slippage can result in unpredictable outcomes.
- Limited broker compatibility, requiring traders to use specific types of brokers with certain tools.
Conclusion
Gold Rage EA by Anton Kondratev lacks transparency, putting traders at significant risk. The absence of clear risk management and the undisclosed trading strategy make it an unreliable choice for those seeking a dependable trading tool. Traders are better off exploring more reputable and transparent options in the market to safeguard their investments.