Price Action Gold EA is presented as a progressive Forex Expert Advisor designed to change the way gold is traded, a popular asset in the forex market. The developers claim to possess significant experience in both trading and programming, dating back to 2004, and assert that their EA offers a distinctive approach to trading gold.
About Price Action Gold EA
Price Action Gold EA is a trading tool or Expert Advisor compatible with the MetaTrader 4 (MT4) platform. It aims to simplify gold trading by providing a strategy rooted in price action and the analysis of ten fundamental indicators. The EA is available for purchase at $499, with the offer of free updates and a refund promotion, accessible by contacting the seller privately.
Notable Features:
- MT4/5 Version: Price Action Gold EA is designed to work with both MetaTrader 4/5 platforms.
- Risk Management: The EA emphasizes a conservative trading strategy by avoiding high-risk techniques like grid and martingale. It incorporates fixed Stop Loss and Take Profit levels for each trade and provides risk management flexibility through the “Auto lot” feature.
- Trade Parameters: Price Action Gold EA operates on the H1 timeframe and requires a minimum deposit of $100 for a 0.01 lot size. It is compatible with brokers offering a minimum or floating spread and 2 digits after the decimal point.
- Customizable Parameters: The EA offers various parameters for customization, including magic number, trade type selection, trailing profit and offset, fixed and auto lot size, lot size relative to the account balance, maximum lot size, and options for closing open orders.
Trading Strategy
Price Action Gold EA is designed to implement a conservative trading strategy, emphasizing the analysis of 10 basic indicators. Each trade is equipped with a fixed Stop Loss and Take Profit.
The EA provides flexibility in risk management by allowing users to adjust the lot size in proportion to their account balance, catering to traders with different risk tolerances.
Price Action Gold Expert Advisor
Pros:
- Risk Management: The inclusion of flexible risk management options can cater to a broad range of traders with varying risk preferences.
- No Risky Strategies: They avoid risky strategies such as grid and martingale, which may appeal to conservative traders.
- MT4/5 Compatibility: Compatibility with the widely-used MetaTrader 4/5 platform makes it accessible to a broad user base.
Cons:
- Price Increase: The initial price of $499 is set to increase to $650, which might deter some potential buyers.
- Unverified Results: The promotional materials do not provide any verified trading results or third-party statements to substantiate the EA’s performance claims, which can raise concerns about its effectiveness.
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Conclusion
Price Action Gold EA by Evgenii Aksenov offers a potentially appealing approach to trading gold with its emphasis on risk management and avoidance of risky strategies. However, the limited availability, impending price increase, and lack of verified trading results may leave potential buyers cautious about its performance.