We’ve got the Gold Pips robot to review. The devs call the robot “Hypothetical Ether Forex Robot GOLD-PIPS.”
Having gone through the presentation, we were hyped by a lot of fake statements like: “100% satisfaction guarantee”, “Probability of Loss 0%”, “Absolutely Gobsmacked !!”,
“Unbeatable LIVE/REAL performance”, “New Version 3 released.” Every statement is a lie. Looking at the presentation, it’s hard to find not lie.
Suggested settings are:
- a minimum account balance should be $500 if a broker allows micro lots;
- the EA works well with other EAs at the same account;
- the robot trades manually;
- trading other currency pairs.
For the last three options, we should ask for advanced settings.
Screenshots of backtests
We’ve got several pictures of backtests. As we can see, some parameters were nonsense. The modeling quality is low (25%). It was just 23 months backtesting. The profit factor is very low and equaled at 1.12. The win-rate is low (65%). The average consecutive wins just only two deals. They are very very bad results.
The rest of the backtests have got the same quality, as well as, results.
Gold Pips robot trading results
The devs said that they provided us with real account trading results, but it’s a lie. It’s a demo account behind the link at the presentation.
The next lie is about “version 3” and “designed in 2018”. As we can see, the robot online just 25 days. Probably, the previous account has been zeroed.
The average loss is 1.5 times higher than the win. Taking into account the win-rate, trading with high leverage can destroy an account balance.
The monthly return looks like this (5.4%).
The profit factor is wise worst even than on the backtests.
The EA uses just one strategy to trade.
If we look at trading days, we can notice that Gold Pips don’t open trades on an everyday basis. It can mean patterns behind the EA are so far from being well-designed.
Hurry not. The Gold Pips costs $160 and we’ll receive a copy of EA and user guide.
Does Gold Pips trade the XAU/USD pair well?
- Lie, lie, lie
- We’re forced to buy it asap.
- No strategy explanations
- No settings provided
- No real backtests provided
- No version 3, as well as, 1 and 2 patch notes provided
- Extremely low “profit factor”
- Less than one month live
- Very low win-rate
- Selling direction win-rate is lower than 50%
- Demo account trading results
- No demo accounts provided
- No support provided
- No free updates offered
- No money-back-guarantee provided
- No people feedback provided