Gold M Stops trades on multiple currency pairs and uses a fixed stop loss for each trade. The developer states that both beginners and professionals can install and use the system with ease. The robot works best when it is employed on raw spread accounts. We will review the algorithm in our article to see if it maintains a good drawdown and gives a good outcome while trading.
How Gold M Stops works
The EA requires the following steps to work properly:
- Purchase it from the MQL 5 marketplace and download the product on the MT 4 platform
- Place the EA on the charts to start trading.
Noorullah Aimaq is the author of the product who resides in Afghanistan. He has a total rating of 4 for three reviews. The developer has thirteen products published on the MQL 5 marketplace and has eight subscribers for his services. He has no trading experience, according to the MQL 5.
The EA has the following features:
- There is a fixed stop loss for each trade.
- It has good resistance to unexpected market events.
- The robot does not trade during periods of high spreads.
- The system has a built-in recovery system.
The developer states that the robot trades four currency pairs, including XAUUSD, AUDUSD, USDCAD, EURUSD, GBPUSD, and AUDCAD. It requires a minimum of $200 to trade AUDUSD and $800 for gold. The robot capitalizes on breakthroughs on price levels and market times. The entries are based on the movement of instruments on the charts. There is a spread protection system, and each trade comes with a fixed stop loss.
The developer does not provide us with backtesting records. This might be because it implements a martingale and grid approach, which is highly risky and can cause a margin call on the trading account. Lack of transparency raises many questions on the efficiency of the product.
Gold M Stops robot trading results
Verified trading records are available on MQL 5 marketplace that shows performance from September 23, 2021, till the current date. The system made an average monthly gain of around 75%, with a drawdown of 10.6%.
The winning rate stood at 84.43%, with a profit factor of 4.49. The best trade was $40.82, while the worst was -$38.97. There were a total of 257 trades. The records are on a demo account that does not respect real conditions in the market such as slippage and liquidity.
Pricing & refund
The robot can be purchased for $600, and there is no money-back guarantee. Traders can also rent it for one month at $75. The updates are free once a trader buys the algorithm. The asking price of the system is quite high. It only provides results on a demo account and does not give a good output which is not helpful when we look to buy it.
There are only four reviews at MQL 5 marketplace. A trader states that the first strategy of the robot has blown his account, which is quite alarming. As the system has been introduced recently, we can not trust most of the feedbacks as users have tested the robot for a short duration. Trading algorithms must be tested for at least 6 months before they can be considered as profitable.