Gold M Stops is a fully-automated EA that works on a variety of currency pairs, including Gold. The system has undergone so many updates since it was published on mql5 on September 21, 2021. We believe that the updates were meant to improve its workability. However, the vendor’s reluctance to reveal the EA’s past and present performance proves that the algorithm might still be ineffective.
Noorullah Aimaq is the brains behind Gold M Stops. His profile indicates that he is a CEO at a company called TopCo Finance. The developer operates from Afghanistan and has many other trading systems in his portfolio. As much as this info helps us know who we are dealing with, we are disappointed that there is no communication about his qualifications, trading experience, and achievements in Forex. So, it is easy to doubt his expertise, and consequently, his ability to create workable strategies.
Gold M Stops: characteristics
The features of this EA are listed below:
- It is easy to set up and use
- Protects each trade with a stop loss and trailing stop-loss
- Good resistance to unexpected market events
- Contains a great recovery system
The developer also highlights the requirements of this system. We have listed them below:
- It needs a hedging account
- The minimum deposit required for the gold power strategy is $800
- The minimum account balance for the AUDUSD strategy is $200
- A low latency VPS is always recommended
- Use raw spread accounts
Currency pairs, strategy & timeframe
Gold M Stops supports AUDUSD, USDCAD, GBPUSD, XAUUSD, AUDCAD, XAUUSD, and EURUSD currency pairs. It works on the M5 timeframe.
The robot’s strategy focuses on breaking through price levels and market time. Every point of entry is computed using an advanced input filter that assesses price chart movement.
The system also includes protection against high spreads and permits you to trade with a fixed or automatic lot size. The developer mentions several other strategies that are used for different currency pairs but does not elaborate on them. For instance, there is the AUDUSD strategy, gold power strategy, and firepower strategy. It is unclear how each one of these works.
Gold M Stops trading performance
Gold M Stops does not have any backtest results featured. This makes it hard to ascertain how the EA can perform in the long term.
Lucky enough, the vendor provides several live trading stats, but all of them have not been verified. So, it is possible that they are not a true reflection of EA’s performance. Nonetheless, let’s just assess them.
We have the demo results for the Gold M Stops GP strategy. You can see that the account was opened on September 23, 2021, and deposited at $1000. After 46 trading days, the EA has made a profit of $19422.78 from 518 trades. Subsequently, the account has recorded a 5.10% growth. The maximum drawdown presently stands at 38.5%. This value is high and highlights the risky trading activities the robot engages in.
The profitable trades are 427, and this is akin to a gain of 82.43%. As per the stats, the long trades performed poorly, as only 63.71% were successful. The figures for the short trades were even poorer — 36.29%. The profit factor is 6.54.
How much does it cost?
Gold M Stops is rather expensive. The vendor wants you to pay a whopping $600 for the license. This is 3 times the average price. Renting options are also available, and they aren’t cheap either. To hire the system for 1 month, you need to pay $75. The 3-months, 6-months, and 1-year options are going for $180, $320, and $450, respectively. The developer is not offering any money-back guarantee, a sign that his product may not be reliable.
Reviews from customers
There are 6 reviews for this robot on mql5. Although 4 of the reviews are positive, we are more concerned about the negative feedback because they reveal more about the performance of the EA. Moving on, one of the displeased clients says that the system has blown up his account. The other one indicates that he suspects that the robot has crashed accounts several times, and the author hides this truth with updates. Therefore, he doesn’t trust the product.
Should you use Gold M Stops?
|Is easy to install and use||No backtest results|
|Available live results are unreliable|
|Vendor transparency is not enough|
Traders should not purchase Gold M Stops. In addition to being overpriced, it is suspected that the robot can wipe out accounts. Therefore, you may not get value for money. Moreover, you should never invest in a product whose real performance is uncertain. You may pay a heavy price if you do so.