Golden Pickaxe EA is an automated trading system that promises success even in the worst market condition. The robot literally uses a popular grid trading strategy to place trades on the XAUUSD (Gold) currency pair. As per the vendor, this is a completely automated system that has settings and options designed for use according to your risk appetite. This Gold EA is compatible with all brokers with hedging account. The FX expert advisor is NOT sensitive to spread and slippage and works on both MT4 and MT5 platform. In this Golden Pickaxe review, we will discuss the the various aspects of this FX robot to verify its dependability.
The developer of this gold EA is Valeriia Mishchenko and she is the head of the Valery Trading group. The Valery Trading company develops and promotes this FX EA on their website as well as on Mql5 marketplace. Other products from this vendor include Waka Waka EA, Evening Scaper Pro, and more. With numerous positive reviews and 5 star ratings, this vendor has profound understanding of what makes an expert advisor give good results, learn more.
- 1 Golden Pickaxe EA Review
- 2 Golden Pickaxe EA Strategy
- 3 Golden Pickaxe EA Backtest
- 4 Trading Result
- 5 Golden Pickaxe EA Support
- 6 Golden Pickaxe EA Review – Conclusion
- 7 Golden Pickaxe Expert Advisor
- 8 Pros
- 9 Cons
Golden Pickaxe EA Review
Compatible with both the MT4 and MT5 trading platform, this Gold robot delivers excellent settings for customization according to your risk level – XAU Risky Vol, XAU Balanced Vol, XAU Risky, XAU Balanced and XAU Classic. There is an advanced News and stock market crash filter in combination with statistic panel with self diagnostic system and neural network forecast indicator.
The vendor provides verified real live trading results that show stable profits and low risk. There are other factors like the money-back guarantee that indicate the reliability of the system.
Golden Pickaxe EA Strategy
Some of the key features that the vendor claims make this expert advisor the best Gold EA in the market are:
- Shares same algorithm with the waka waka EA, which has +54 consecutive months in profit.
- Trades XAUUSD (Gold). Gold is one of the most profitable assets at the moment.
- Focused on long-term stablegrowth, based on strict rule trading, rather than making quick profits
- Constantly updated, incorporating all the latest innovations in the financial markets trading field
- Not sensitive to broker selection. You can work with any broker of choice.
- Offered by the #1 ranked MQL developer. Vendor has several other successful systems.
- Has low drawdown with 5 different risk managements configurations (We recommend you start with the Golden Pickaxe Classic set file)
- Over 20 years of backtest on Dukascopy real tick data with consistent results.
The software works mainly using a mean-reversion grid trading system in conjunction with machine learning. It is developed with many of the algorithmic principles from a popular grid trading robot called Waka Waka to this gold EA.
Software results have been mind-blowing and Golden Pickaxe performs even better than Waka Waka. In addition to this core trading method, the robot uses advanced News and stock market crash filter.
- Type: Forex Robot
- Strategy: Grid
- Currency pair: XAUUSD
- Timeframe: M1
- Price: $1305.
You can buy this FX robot at a discount price of $1305. The package comprises lifetime license for 10 MT4 or MT5 accounts. There is free updates, one and one support from the dev, access to telegram group and video installation guide as well as useful PDF files.
A 30-day money-back guarantee is present. The package includes 5 trade sets in one EA and you can see how much you profit from each, see here.
Golden Pickaxe EA Backtest
There is a backtesting report that ran on the XUUSD currency pair. The modeling quality was 100%. An initial deposit was $1000. It has turned into $74390166.06 of the total net profit. The profit factor was 2.63. The recovery factor was 3.14. There were 10112 deals traded with 94.53% of the win rate for shorts and 94.72% for longs.
There are five set files with successful track records you can monitor (we recommend you start with “Golden Pickaxe Classic”). The account uses the ICmarkets broker and the leverage of 1:500 on the MT4 terminal. A screenshot of the account stats and growth graph is shown here:
There is also a real live AUD account verified by the myfxbook site. The below stats show a total profit of +204.85%. We can see the account has grown steadily from the growth chart indicating a stable income. The drawdown of 18.87% is low indicating the risk involved is minimal. Traders can rely on this set file to provide a small but consistent income without any associated risks.
For the account that started in September 2022 with a deposit of A$57, a total of 94 trades have been executed with a profitability of 93% and a profit factor of 2.25. The trading history reveals a lot size of 0.01 is used for the trades. From the live trading results below, we can see that the risk is very low from the lot size and the drawdown.
Although the profits are not very high, the stats show a small but steady profit and growth of the account without high risk. Traders averse to taking big risks with their capital will find the system favorable.
Golden Pickaxe EA Support
Customer support for this EA is provided via different methods including an email address, live chat, telegram as well as from the MQL5 page. The vendor promises 24/7 support. An FAQ section is also present to answer the commonly asked queries of customers.
Golden Pickaxe EA Review – Conclusion
Golden Pickaxe uses machine learning to place profitable trades on the Gold market. Our analysis of the gold EA shows that the vendor’s claims are true. The Golden Pickaxe Classic live trading results verified by the myfxbook site show the system has a low drawdown and small lot sizes indicating a low risk.
Furthermore, the affordable price, the refund offer, good support, and small but stable profits are other advantages that tip the scales in favor of this FX robot.
Golden Pickaxe Expert Advisor$1305
- Myfxbook result
- Performance result
- Strategy insight
- Experienced developer
- Low drawdown
- Multiple risk options
- Multiple myfxbook accounts
- 14 day free trial
- Money back guarantee
- MT4 & MT5 compatible
- Single currency pair