Gold Miner is an expert advisor that was released several months ago on the MQL 5 community by Nguyen. The least version is 3.0. The presentation doesn’t look professional.
Detailed Forex Robot Review
There are not so many features and explanations provided. We’ve grouped up the most important ones in this list:
- The robot works fully automatically.
- The main strategy works around placing orders when the currency goes to the overbought level (70-80%) or oversold one (20-30%).
- The system opens only short-term orders.
- There’s Martingale on the board to increase the system’s profitability and recover after losing deals.
- The robot can handle trading with the next cross pairs: XAU/USD, GBP/USD, USD/CAD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, and NZD/USD.
- The system closes orders or when an equity target is reached.
- The system protects open orders with Stop Loss and Take Profit levels setting.
- There’s a suggestion to use the robot with a manual BUY/SELL indicator.
- The robot was introduced in both MT4 and MT5 versions
- The system can use positioning and hedging.
- There’s a lot of multiplayer (martingale) for grids of orders.
- The system allows increasing the number of open orders if needed.
- There’s a trailing stop loss feature to make more money during trend trading.
- The robot can be restarted on the terminal automatically after closing all orders.
Gold Miner Strategy Tests
The presentation doesn’t have a common backtest report with chart and sheet with details of the performed test. From the chart provided by the vendor, we know that there were insanely deep drawdown periods.
From the value (see highlined blue field on the screenshot above), we can see how much margin the system needs to open Martingale orders after losses.
Real Account Trading Results
There are many systems. They’re nameless. This robot was the number 5 system. Now, it’s removed from being checked. As we can see, no one cares about signals from it – there are no subscribers at all. The best system is at a 718 place only in the global chart. It’s not low, but it’s not great for people to follow them. Anyway, in general, it’s too suspicious to remove just deployed account with trading results from being checked.
For a digital copy of this EA, we have to pay $49. The rental option is affordable too. It costs $30 for three months of the subscription. There’s a free demo version. So, we can download it for free and explore it on the terminal, performing backtests or checking the settings and the way to customize them. As usual, there’s no money-back guarantee provided.
The developer is originally from Vietnam. He or she has a 12751 rate. There are 12 signals and 60 products in the portfolio.
There are not so many reviews so we can’t be sure that the system is popular and profitable.
Gold Miner looks like a scam now. The robot has had demo-account trading results that were removed several weeks ago. It’s not professional. If we talk in general, the system can’t cost less than $150-$190. If so, there are no minimum required features implemented.
The amount of customer feedback tells us that a system with such a low price isn’t popular among traders. It doesn't sound good. So, for now, buying it is a bad idea.