Mr Gold EA

The Mr Gold EA is a fully automated trading system that trades the XAUUSD currency pair. This EA is designed to trade on the M30 and H1 timeframe and has 21 controlling functions to manage risk. In this comprehensive review of the Mr Gold EA, we will provide a detailed analysis of its strategy, features, and settings. By the end of this review, you will have a better understanding of the Mr Gold EA and be able to make an informed decision on whether to use it in your trading.

Mr Gold EA Strategy

Mr Gold EA is a fully automated trading system that executes trades on the XAUUSD currency pair. It runs on the MetaTrader 4 platform and uses a Martingale strategy to multiply and hedge trades. This involves opening trades in both directions, with a larger lot size for the losing trade and a smaller lot size for the winning trade.

Mr Gold EA Activity
Mr Gold EA Activity

The EA can open multiple trades on the XAUUSD (Gold) currency pair simultaneously with high volume. It works on the M30 and H1 time frame and can trade around the clock. The EA contains 21 controlling functions and chooses the best one based on market conditions, making it easy to set up and use.

However, one of the EA’s weaknesses is its martingale strategy with hedging which can be risky, as it requires a significant amount of capital and can quickly lead to large losses if the market moves against the trader. Another weakness of the EA is its limited compatibility with other trading platforms apart from MT4.

Overall, the Mr Gold EA is worth considering for traders who are comfortable with a martingale-based automated trading system for the XAUUSD currency pair. It is important to use proper risk management techniques and demo test the EA to determine its suitability for your trading style.


Mr Gold EA Features

  • Martingale-based trading system designed to work on XAUUSD currency pair with M30 time frame.
  • Contains 21 controlling functions and chooses the best one based on market conditions.
  • Can trade with a fixed lot or auto lot money management.
  • Can open multiple trades with high volume at the same time.
  • Easy to set up and use, with a team available to assist with installation and setup.

Mr Gold EA Settings

  • Magic Number: This is a unique identifier for the trades opened by the EA.
  • Lot size: This is the amount of currency to trade per trade.
  • Stop Loss: This is the price level at which the EA will close a losing trade.
  • Take Profit: This is the price level at which the EA will close a winning trade.
  • Trailing Stop: This is a feature that allows the EA to adjust the Stop Loss level.
  • Maximum Spread: This is the maximum spread allowed for the EA to open trades.
  • Trading Hours: This setting defines the time window in which the EA is allowed to open trades.
  • Trade direction: This setting determines whether the EA will open long or short trades or both.
  • Risk Level: This is the level of risk the user is willing to take per trade.
  • Trading frequency: This setting determines the frequency at which the EA will open trades.

Mr Gold EA Summary

Mr Gold EA is a martingale-based automated trading system that was designed to trade on the XAUUSD currency pair on the M30 timeframe. It can also trade with high volume and has a range of features that can help traders manage their risk, including 21 controlling functions, and a drawdown limit function.

However, the martingale strategy used by the EA can also be a weakness, as it involves doubling the position size after each loss. This can lead to significant losses if the market moves against the EA, particularly if the drawdown limit function is not used or is set too high. Additionally, the EA is only designed to trade on XAUUSD in the M30 timeframe, limiting its versatility.

Overall, the Mr Gold EA is worth considering for experienced traders who are comfortable with the risks involved in martingale-based trading systems. Traders should use a demo account to test the EA’s performance and apply good risk management settings, such as setting an appropriate drawdown limit and using a conservative lot size.

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