We’d like to talk about an August Forex Golem EA.
The site looks like a kid who finds how to customize written in MS Word. This pack of compact discs should convince us that there’s something cool. Seriously? Compact discs in 2020? It wasn’t actually even ten years ago.
How August Forex Golem Works
There’s a huge lack of explanations and info about the robot’s system.
- August Forex Golem trades fully automatically.
- The robot can optimize itself during real-time activities. This allows it to increase profitability and trading accuracy.
- The EA uses various indicators to make decisions.
- The robot can be run on the following symbols EUR/GBP, EUR/USD, GBP/USD, USD/CHF, AUD/USD, USD/CAD, EUR/CHF, GBP/CHF, EUR/CAD, EUR/AUD, USD/SGD, NZD/USD, EUR/NZD, AUD/NZD, AUD/CAD, AUD/CHF, and CADCHF.
- The developers said that we could trade other symbols, but we’re not sure if this is a good idea.
- The robot can run on any type of accounts like Standard, Micro, or Mini.
- We can start trading with “any amount.” Of course, it’s a lie. If you apply the EA on all these charts and set 0.1 Lot Size for a $1000 deposit, you immediately get insane drawdowns that move you to Margin Calls and Stop Outs.
- The robot works with any leverage.
- It was designed to trade through MT4.
- It works on the M1 time frame.
- The best symbol to trade is EUR/USD.
- The EA works with 4 and 5 digits brokers.
- The default settings are good to trade. No changes are needed.
- We can run the robot from home or office PC. We just need to be online during proper hours.
- ECN accounts are allowed to work with.
- The EA uses Hedging in its trading activities.
- The main strategy is Grid-based trading.
August Forex Golem Trading Results
We have a demo account (the second version). It was created on October 14, 2020. The first deposit was $1000. It became $2527 of the absolute account gain.
The robot trades only the EUR/USD symbol. The average monthly gain is +7.2%. The maximum drawdown was quite high as for these profits (26.5%). The win-rate is only 62.5%. Profit Factor is very low (1.14). An average trade frequency is two trades daily.
As we can see, the EA likes keeping trades for several days on the market. An average win (24.27) is fewer than an average loss (-35.59).
As we can see, the EA has huge problems with trading a Short direction. It’s brought -$2386 of losses. The Profit Factor on it is just only 0.66, but the win-rate is higher. It means Grid doesn’t work properly.
It performs a single strategy without a magic number.
Mondays and Tuesdays were not the best days for this robot.
The biggest loss was at 8 a.m. just right before London trading hours.
Anyway, there was only February 2020 that’s closed with a little loss.
Some of the trades were with doubled, tripled, and quadrupled Lot Sizes.
Pricing & Refund
The EA sells in a single package that originally cost $250. Now, with $53 OFF, the price is $197. We can pay for it only using PayPal.
There are positive people testimonials on the site.
There’s a page of August Forex Golem on FPA with a 2.5/5 rate based on five reviews. The previous version of Golem showed 93% losses, having zeroed the account.
People noticed that EA’s results don’t match quite often results that they received on their accounts. It means the devs trade manually to recover EA’s losses.
Here, the answer to why the vendor sells the robot only through PayPal. It’s because PayPal’s policy covers them not to pay refunds.