XG Gold Robot EA is a Forex expert advisor designed with customizable pairs and weekly Gold levels. Compatible with MetaTrader 4 and MetaTrader 5, and available for use with any broker, XG Gold Robot EA claims to empower you to make informed trading decisions. However, caution should be exercised before diving into the world of Gold trading with XG Gold Robot EA. This expert advisor raises some red flags that make it a questionable investment.
First and foremost, the vendor’s lack of experience in the Forex robot marketplace is a major concern. With zero years of experience, there’s a significant risk that the XG Gold Robot EA may not deliver the desired results. In such a volatile and competitive market, trusting an inexperienced vendor is akin to navigating treacherous waters without a compass.
XG Gold Robot EA Review
XG Gold Robot EA has been built for traders who are captivated by the allure of Gold. This expert advisor is finely tuned to navigate the intricacies of XAUUSD, GOLD, and XAUEUR pairs. The list of compatible pairs is fully editable, giving you the freedom to add even more Gold-related pairs to your trading arsenal. XG Gold Robot offers a function that displays weekly Gold price levels. These levels, with their minimum and maximum values, are conveniently showcased in the trading interface and chart, helping you to make informed manual trading decisions.
Exercise caution when considering the XG Gold Robot EA for your Gold trading endeavors. The vendor’s lack of experience in the Forex robot marketplace raises concerns about their ability to deliver reliable results. Also, relying solely on demo account results instead of real trading account data further undermines the EA’s credibility. Considering the risks involved, it would be prudent to explore more reputable and transparent alternatives in the market.
XG Gold Robot EA Strategy
In addition to the concerns previously mentioned, another significant drawback of the XG Gold Robot EA is the lack of a comprehensive and detailed explanation of its trading strategy. The developer’s statement that it combines astute market analysis with sophisticated algorithms is vague and insufficient to provide traders with a clear understanding of how the EA operates.
A well-designed and trustworthy trading robot should provide users with a thorough explanation of the underlying strategy, including the indicators used, entry and exit criteria, risk management techniques, and any other relevant details. Without this crucial information, traders are left in the dark about the EA’s decision-making process and the factors driving its trading actions.
EA Breakdown
- Type: Forex Robot
- Strategy: N/A
- Currency Pairs: GOLD, XAUUSD, XAUEUR
- Time frame: H1
- Price: $599.
XG Gold Robot EA comes with a price tag of $599. Your purchase comes with a manual and access to the support group with experts and users like you.
XG Gold Robot EA Backtesting Result
The backtesting screenshot provided by XG Gold Robot is far from comprehensive, leaving potential buyers in the dark about crucial details and performance metrics.
Without a thorough and transparent backtesting report, it’s difficult to gauge the reliability and profitability of the XG Gold Robot EA.
Trading Result
The trading result available is based on a demo account, which raises concerns about the EA’s performance in live trading conditions. Additionally, the verification of the result is done on FXMerge.com, a relatively unknown third-party statement-sharing site. It would have been more reliable and preferable to have the results verified on reputable platforms such as Myfxbook.com or FXBlue. Despite these limitations, let’s examine the available data.
The account shows a total gain of 638.92% which indicates substantial growth, although it’s important to remember this is based on a demo account. The monthly gain of 40.39% is impressive, suggesting the EA has the potential for significant returns. Also, the drawdown of 8.06% indicates a low level of risk involved.
The robot has completed 369 deals with a win rate of 71.54%, indicating a relatively high percentage of successful trades. The profit factor of 2.61 suggests that, on average, the EA generates profitable trades relative to losing trades.
However, it is worth noting that the information about open trades, pending trades, and trade history is hidden, limiting our ability to gain a comprehensive understanding of the EA’s trading behavior and risk management.
While the available trading result of the XG Gold Robot EA on a demo account appears promising, the absence of a real account trading result and reliance on an unfamiliar third-party site raises concerns about the EA’s reliability.
Conclusion
XG Gold Robot EA appears to be a risky choice for those seeking to venture into Gold trading. The inexperienced vendor, deficient backtesting report, and reliance on demo account results cast doubt on its reliability and effectiveness. With so many other proven and reputable options available in the market, it would be wise to explore alternatives that offer a stronger track record and greater transparency. This developer needs to put his money where his mouth is.
XG Gold Robot Expert Advisor
599 USD
Pros
- Performance result
- Manual and support group
Cons
- Poor strategy insight
- No real account result
- Inexperienced vendor