Gold Miner is a trading advisor that was designed by Nguyen Nghiem on December 31, 2020. The current version is 3.0. We don’t know when the system was updated. The robot was demo downloaded 137 times.
Gold Miner: Characteristics
The Gold Miner presentation has just several lines about the system:
- The robot was designed to execute deals fully automatically for us.
- The main strategy focuses on working with trading overbought and oversold levels of eight currency pairs.
- The expert advisor opens orders that are on the market for several hours or even minutes.
- There’s a Martingale system that allows recovering after losses.
- Gold Miner trades the following currency pairs: USD/CAD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, XAU/USD, GBP/USD, and NZD/USD.
- The robot can close deals on Friday night for us.
- This feature lets us protect an account balance from losses.
- All open deals have Stop Loss and Take Profit levels placed.
- The presentation informs us that there’s a BUY/SELL indicator that we can use manually. We have no idea why we need it with the automatic trading system.
- There are both versions: MT4 and MT5 released.
- We can use Positioning and Hedging features.
- We may use risky strategies like Martingale and Grid of orders.
- There can be a number of open orders at a time increased.
- The Trailing Stop Loss feature lets obtain more profits from the big trends.
- The terminal can be restarted by the system.
Currency Pairs, Strategy & Timeframe
- Gold Miner trades overbought and oversold levels on the various currency pairs.
- The main symbols to work with are EUR/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, XAU/USD, GBP/USD, and NZD/USD.
- We don’t know on what time frame the system works.
Gold Miner Trading Performance
The presentation has only this piece of a chart instead of the full backtest report. It’s a solid disadvantage because much information passes us. Anyway, the Value chart shows that the system uses truly Aggressive Martingale to recover after losses.
There’s a big sheet of accounts. Almost all of them are low-rated or not rated at all. Charts of many look so dangerous to be used. The robot was used on the #5 test, which is removed now.
One of the accounts has trading results which include Gold (XAU/USD). There’s a chance we’re correct. It’s a demo USD account with 1:500 leverage on the USIGUK broker. The deposit was set at $100,012,13. The accuracy rate is 67.9%. The maximum deposit load is incredibly low, 0.2%. The maximum drawdown is 2.7% only. We are free to copy these signals without any restriction. The robot has been working for 15 weeks. The total growth is 0.70%.
There were impossibly low monthly profits provided.
The system is experiencing the second period of significant drawdowns.
The robot uses a Grid of five orders without Martingale applied.
It has performed 2390 deals with 67.94% of the win rate (1624 deals). The best trade is $63.37 when the worst trade is -$62.54. The Gross Profit is $5,014.68 when the Gross Loss is -$4,314.16. The maximum win streak is 31 wins. The system keeps increasing trading frequency. There are 116 deals weekly. An average trade length is twelve hours. The Recovery Factor is 0.44. The Profit Factor is only 1.16. An average monthly gain is 0.37% when an expected annual profit is 4.41%.
As we can see, the robot trades Gold in both directions equally.
Every week the robot is warned by MQL5 that there’s something wrong with the trading activities.
How much does it cost?
The Gold Miner’s price is $49 for a copy. The price is so low for this type of expert advisor. An average price range is from $150 to up to $500. There’s a single rental option for $30. We can download a demo version of the product to execute a backtest or check settings.
Reviews from customers
There’s single positive feedback from a client.
The developer answers questions immediately.
Should You Use Gold Miner EA?
|The settings list provided||No strategy details provided|
|Real account trading results||No money-management advice given|
|Affordable pricing||No risk details provided|
|The cut backtest report provided|
|No verified trading results provided|
|No money-back-guarantee supported|
|Lack of customer feedback|
Gold Miner is a trading advisor that works with eight pairs. The trading results that were connected to it were removed a month ago or so. We have no idea how the system works now. If the developer avoids telling this – there’s no reason to buy the system at all.