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Golden Fleece Review

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Golden Fleece Review

Both Golden Fleece’s MT4 and MT5 versions were published on May 7, 2020 on the MQL5 marketplace. Per the developers’ statements, the system has an easy installation method and is not sensitive to broker conditions. The algorithm comes with efficient money management to maintain the drawdown below 30%. To give more information to our readers, we will discuss the live performance, key features, and other aspects of EA in this review.

How Golden Fleece works

The algorithm comes with the following characteristics:

  • It is compatible with the NFA, FIFO, MT4, and MT5.
  • No martingale, grid, or averaging. 
  • It comes with ECN support. 
  • The algorithm has an easy installation method. 
  • Free demos are available. 

Vendor transparency 

Roman Erokhin is the author of Golden Fleece and other multiple trading bots such as Angry Lion, Genius Assets, etc., available on the MQL5 marketplace. He is from Russia and is a professional developer by occupation. There are no certificates or links that could provide us with verification for the authors’ portfolios.

The developer has a rating of 4.5 based on 52 feedback on the MQL5 website. Unfortunately, there are no contact details such as email address, phone numbers, etc., available for getting customer support. 

Traders can install it by dragging the ex4 file into the expert’s folder and adding it to the charts in the MT4/MT5 platform. The system relies on coded information to open and close trades. The author used the MQL4/5 programming language to create the algorithm for both MT4 and MT5 terminals. 

Applied strategies

The developer states that the bot is trained with a multilayer perceptron neural network, and each position is secured by hard stop loss and take profit. The algorithm does not use martingale, grid, or averaging techniques.

The history of MQL 5 records shows that the system trades on Gold. It uses a trailing stop loss to secure trades. There is currently no trade closed with a loss which does not coerce the high drawdown value. Probably the EA has a high or no stop loss initially. 

Trading history on MQL 5.

The author has provided a screenshot of what seems to be the backtest results. The portfolio had an initial deposit of $1000, generating a total net profit of $9280044.07.The algorithm performed 967 managing a win rate of 98.66%. The account balance drawdown stood at 0.08, with a profit factor of 126.01.

Backtesting result.

Golden Fleece trading results

The EA started trading on MQL5 in March 2022 and has been trading since then. So far, it has made a profit of $ 58.11 on a $ 200.00 initial deposit. 

Live records on the MQL5 website.

The maximum drawdown value is 25.4 percent, and the portfolio’s current balance is $262.11. It has so far engaged in 16 deals, with a win percentage of 100. The best deal is $20.11, while the loss trades stand at zero. 

Live records on the MQL5 website.

The algorithm has been live for a short duration which is not enough to understand its true performance.

Pricing & refund

The product costs $690 and is currently on sale. The author provides no information on a money-back guarantee.

Price of the EA.

Other notes

The algorithm has a rating of 5 based on two reviews on the MQL5 website. One of the traders commented that the EA seems profitable in almost all market conditions.

Customer review on the MQL5 website.

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