In this post I will be reviewing the EA Gold Stuff. This is an automated forex trading strategy that has been programmed to run in the popular forex trading platform, MetaTrader. You can download MetaTrader free of charge from most forex brokers. It is worth mentioning that you will need the desktop version of the MetaTrader platform in order to run forex robots.
You can load the EA Gold Stuff onto the charts in your platform and it will constantly scan the forex market for trading signals using the built-in algorithm. When the expert advisor determines that there is an opportunity for trade, it can enter the market and manage the position on behalf of the user. Whilst this may seem like an attractive proposition for those who do not have the time or knowledge required to trade manually, there are some key advantages and disadvantages to be aware of.
In this EA Gold Stuff Review, I will be taking a look at the automated forex trading strategy that it implements, along with any back tests provided by the developer and most importantly, real verified account results. Hopefully, this can help you to decide if this is a forex EA that you would consider using on your own forex account or not.
EA Gold Stuff Trading Strategy
EA Gold Stuff is an Expert Advisor designed specifically for trading gold. The operation is based on opening orders using the Gold Stuff indicator. Therefore, the EA works according to the “Trend Follow” strategy, which of course means that it uses a trend trading strategy.
Trend trading is a strategy that involves traders analysing the direction of trends for financial instruments. When an asset is seeing an upward trend, traders would often look to enter into a long position and buy. In the opposite scenario, when trend direction is downward, traders would go short and sell.
Trend trading strategies are probably the most popular strategy style among traders and investors. In fact, many fund managers choose to employ this type of method for its ability to provide high reward to risk ratio trading opportunities.
Trends can develop on any time frame with traders using short term trend trading strategies and investors using longer term trend strategies. Most trend traders will have a longer holding period based on the time frame they are using as the key is to try and capitalise on the majority of the trend. Other traders such as momentum traders will typically trade in and out of a trend, rather than have one position to capitalise on the whole trend.
I like how the EA Gold Stuff has many customisable settings as it can be adjusted to cater towards the needs of different traders. Whilst it is designed specifically for trading gold, you could in theory use it on any financial instrument and chart timeframe that you wish.
EA Gold Stuff Features
- Open new series – on / off beginning of a new series of orders.
- Start lots – start lot.
- Trade Buy – allow the adviser to buy.
- Trade Sell – allow the adviser to sell.
- Use hedge – allow the adviser to trade both directions buy and sell. If off only one trade direction.
- Use Money Management – on / off use of automatic lot calculation.
- Free margin for each 0.01 lot – the amount of free margin for opening every 0.01 lots.
- Lot multiplier – lot multiplier for the following orders.
- TP – take profit, in pips.
- SL – stop loss, in pips from the first order.
- Trail Start – activation of a trailing stop.
- Trail Step – distance from the price when activating a trailing stop.
- DD Reduction Algorithm – drawdown reduction algorithm it when last order with profit will be close with first order series with loss.
- Number order for DD Reduction Algorithm – from which order the drawdown reduction algorithm is activated.
- Percent profit for DD Reduction Algorithm – percentage of profit when closing orders in the drawdown reduction mode.
- Magic – is a special number that the EA assigns to its orders.
- Fix distance – fixed distance between orders
- Order dynamic distance – from which order will the dynamic distance be applied in order.
- Dynamic distance start – the starting value for the dynamic distance.
- Distance multiplier – the dynamic distance multiplier.
- Start, End hour – time for opening the first order.
- Maximum Lot – maximum lot.
- Maximum spread – the maximum spread for the advisor.
EA Gold Stuff Back Testing
When it comes to choosing a forex robot, I like to check to make sure the developer has provided back tests that show how the forex expert advisor may have traded over a good amount of historical data across various currency pairs. This can help us to understand how the automated trading strategy works and performed over different market conditions. Of course, historical performance is by no means any guarantee of future results, but it can be a good way to get a rough idea of what we might expect.
It is good to see that the developer has shared some EA Gold Stuff back tests. They do show historically decent performance albeit with some quite high drawdowns at times. I would like to see the results updated but most importantly, I think they need to be redone but this time using real tick data and variable spreads with 99% modelling quality. I would also like to see them conducted accounting for commission fees. These are all major factors that could have a huge impact on the results of any trading robot, including the Gold Stuff EA.
EA Gold Stuff Results
Whilst back tests are useful to some extent, the most important thing to look for in a forex robot in my opinion are real account results. This would enable us to see exactly how the Gold Stuff EA has been performing through recent market conditions. That way you can determine if you are happy with the various statistics such as profit factor, drawdown, average win, average loss, trade duration, trading volume and more.
The developer has published EA Gold Stuff live trading signals on the MQL website which show whilst there may have been some growth over time, there has also been significant drawdowns. This is perhaps too risky an automated strategy for my tastes but feel free to check the graph below to see how it has held up recently. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
EA Gold Stuff Summary
Overall, I think there are better gold trading robots in my humble opinion. My main concern regarding the Gold Stuff EA is certainly the money management. I think there is significant room for improvement as the expert advisor can often run into high drawdowns. I would prefer if the stop loss was tighter so that one bad trade did not wipe out a run of consecutive winners.
To use the EA Gold Stuff, you will need an account with a forex broker. With so many forex brokers to choose from nowadays, it can be had to decide which is the best forex broker for you. From my many years of experience in the forex industry, IC Markets are one of the best forex brokers when it comes to manual and automated trading. This is because they have tight spreads, low commission fees, reliable execution speeds, multiple funding options and excellent 24/7 customer support.
If you would like to give the EA Gold Stuff a try, there is a free demo version. You could even run it on a demo trading account to get a feel for how it trades without taking any risk. I would always test a forex robot on a demo account to begin with. Just keep in mind that demo account results can differ compared to live accounts. This is due to factors that can be different between a simulated and real trading environment including liquidity, slippage and spreads.
You can find out more about the EA Gold Stuff by visiting the website using the link below. You can choose to copy the trades for a monthly fee or pay a one-off fee to activate the EA.
EA Gold Stuff
$50
Pros
- Gold Trading Robot
- Customisable Settings
- Trend Trading Strategy
- Back Tests
- Verified Results
- Free Updates
- Full Support
- Detailed Instructions
Cons
- XAUUSD Only
- MetaTrader 4 Only
- Potentially High Drawdowns
- Could Improve Money Management
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
