FX Automater touts Gold Scalper Pro as “one of the most successful gold trading EAs.” According to the bot’s sales page, Gold Scalper Pro is not only affordable, but it’s also practical and profitable. Throughout this article, we perform an EA review on the Gold Scalper Pro; we text the creators’ claims by analyzing the bot’s webpage, stats, method techniques, and user reviews.
Table of Contents
What is Gold Scalper Pro?
Gold Scalper Pro is an automated forex expert advisor that is part of FX Automater’s creations. The robot was made especially for gold trading (XAUUSD). The bot is said to use the most reliable trading principle in the forex market. This reliability stems from a 15-year experience trading with the system. We have no information on who the bot’s creators are, just that they are experienced forex industry experts.
Features of Gold Scalper Pro:
- The robot is fully automated
- Advanced news filter
- Low drawdown
- 14-year backtests
- Advanced time management
- Advanced profit management
- Manual trading capability
- Email and push notification system
- Friday exit system
- Comprehensive user guide
Gold Scalper Pro’s price ranges from $90 to $150 depending on the promotional discount in effect when you purchase it. With this package, you can gain access to one real account and three demo accounts. You will also be entitled to 24/7 support and a 60-day money-back guarantee.
EA Review: Gold Scalper Pro
This forex robot is compatible with both Metatrader 4 and 5. It doesn’t use martingale, grid, or any risky tool to gain profit. It uses classical trading instead, whereby you can set realistic stop-loss levels and enter and exit a trade when it’s profitable for you. Other than trading with gold, Gold Scalper also deals with the sale and buy of currency.
The scalper uses an ATR-based algorithm in conjunction with the take profit and stops loss mechanism. Using this bot, you can make your manual trading semi-automated. When you introduce a manual trade to the bot, it adopts and controls the bot.
Gold Scalper Pro is a low-risk robot, which means you don’t have to worry about losing too much money. To prevent traders from leaving their trades open on Fridays, the bot’s creators have only created the Friday exit system to find problems. You can activate the Friday exit feature that knows when to board and sit on a happy.
Gold Scalper Pro has an advanced news filter that lets traders know when to avoid trading, especially when important news or events can affect profitability. The robot also offers push notifications. Traders get important notifications via email or SMS to inform them about trades.
The developers have advised traders to ensure that their spread doesn’t exceed 400 pips in XAUUSD.
EA Review: Stats and Customer Reactions
We start by reviewing the sales page. FXAutomater hosts a few robots on their website. Each of the robots carries a specific sales page. Each robot’s page, however, has its unique appearance, which impressed us. Most franchises just copy-paste each sales page and change up a few things.
Gold Scalper Pro Backtests
We were unable to find any user reviews on Scalper Gold pro. Gold scalper pro has presented us with several backtests that you can study in detail from their sales page. The backtests date as far as 14 years ago, and we’ll focus on the XAUUSD currency pair that shows stats from 2004-2018 and runs on the M15 timeframe.
The trader, in this case, began with a $1000 initial deposit, which made them a $1572564.23 gross profit. The gross profit was then reduced to $924389.48. The maximal drawdown stands at 8.85%, and the relative drawdown, 18.92%.
The spread was set at 200, and out of the 1313 total trades, the robot was able to win 671 short and 642 long positions. The largest profit trade was 24974.86 and the losses, 35916.80.
The profit factor on this particular trader is 2.43, which is average for a bot its size. They use a low modeling quality at 90%. We normally prefer the 99.90% quality for accuracy. We can’t be sure whether the developers also factored commissions, slippage, or swaps in backtesting.
Gold Scalper Pro on Myfxbook
Gold Scalper Pro doesn’t have stats from an existing account on Myfxbook, but they have offered stats from a demo account. The account begins in August 2019 with a $1000 deposit. From this deposit, the account was able to gain $417.66 in profits.
The demo account makes 0.05% in gains every day and 1.66% monthly. The drawdown is now 8.21%. The demo has gone through 172 trades. One hundred fifty of these are wins. So far, the average success is 230.77 pips / $6.69, and the average losses -881.32 pips / -$26.64. Gold Scalper Pro’s profit factor stands at 1.71, with an average trade length of 4 hours and 3 minutes. The robot won 94% of the long trades and 82% of the short trades.
Looking at the monthly analytics, the robot hasn’t been doing well this year. The account completely tanked in March and April but is looking to pick back up. The 2.17% win in May, doesn’t compensate for the -6.46% loss in March.
The automated site is fantastic, but we still haven’t seen any user reviews or real accounts to analyze, so we don’t have proof that the robot works in real life. The robot is affordable, but their trades are infrequent. Profit and risk levels that low require frequent trades.
The advanced features on the robot are very welcome and could make the robot successful, especially if the advanced features are well utilized. I believe FxAutomater has enough experience to make their robots more successful and reliable.
We liked that they added the 14 years backtests because we will optimize the robot more when doing actual trading with a good enough analysis. It’s also a best practice to use the demo account first before doing some actual trading because demo accounts are risk-free and an excellent way to gauge your trading skills so that you can plan on your investment strategies.