Gold Scalper Pro is a Forex EA that claims to follow a solid and dependable trading logic to extract profits consistently. This robot is supported by a solid 14-year backtest performance and promises to keep the drawdown low.
Gold Scalper Pro: Characteristics
Gold Scalper Pro is an EA that trades 24 hours a day, 5 days a week without any restrictions. It sends trading notifications via email and push alerts on the phone. It has an in-built money management functionality that allows it to compute the lot size according to the risk and free margin. This also includes a Recovery Mode through which you can recover your losses.
When the recovery mode is activated, the robot checks your trading history for losses. In case no losses exist, it stands by for the first loss. The recovery process involves increasing the lot size slowly with each new trade until the previous loss is completely recovered.
Gold Scalper Pro also has a news filter that lets you avoid important news days when the market might turn volatile. The vendor claims that this feature effectively lowers the drawdown while enhancing the profit. Moreover, you can program the robot to operate during particular hours, thanks to the advanced time management functionality.
It is common knowledge that Friday is a particularly risky trading day. That is why this system has been incorporated with a Friday Exit System where you instruct the EA to exit all trades at a particular time on Fridays.
With this robot, you also have the option of bringing the human element to your trading. The Manual Trading System lets you open manual trades that are managed by the EA.
Currency Pairs, Strategy, & Timeframe
This Forex robot only trades in the XAU/USD (Gold/USD) pair. The Auto MM value for the low-risk setting is 2%, and for the high-risk setting, it is 10%. According to the vendor, you should open an account with a starting balance of $1000, and for this, your lot size should be 0.05. You can easily run it on an M1 or M15 chart.
On the official website, the vendor has not provided any explanation for the trading strategy used by this robot. But from the name of the EA itself, we can assume that it uses a scalping scheme. This particular strategy aims to make small profits from each trade by making use of price differences. It usually involves placing a large number of trades daily before a sizable profit can be earned.
Gold Scalper Pro Trading Performance
While the vendor has provided us with two different live trading accounts on Myfxbook, both of them have short trading histories. This particular account has been active since 2019, but as we can see, only 172 trades have been placed through it. Also, this is a demo account, which we don’t think reflects the true performance of the robot.
Out of 172 trades, 150 have been won by the robot, and this means it has a high win rate of 87%. Currently, the daily and monthly gains are 0.05% and 1.66%, respectively, while the drawdown is low at 8.21%. Although the trading results look satisfactory at a glance, we cannot place too much weight on them, because the sample size is so small.
Here we have the results for a backtest conducted from 2015 to 2018 with real tick data and a modeling quality of 99.90%. A total of 243 trades were placed during this test, out of which 193 were won. The total profit generated was $2387.89. For this backtest, the robot had a decent profit factor of 2.26.
How Much Does It Cost?
Gold Scalper Pro can be purchased for $97. After buying it, you get access to 1 real and three demo accounts. The vendor provides a 60-day money-back guarantee for this EA.
Reviews From Customers
We couldn’t find any user reviews for Gold Scalper Pro on the web. This could be because it has a short live trading history and not many people trust it yet.
Should You Use the Gold Scalper Pro Robot?
|Verified live trading results||Short trading history|
|Backtesting data||No customer reviews|
|Lack of strategy insight|
We think it is unwise to invest in a robot that has only placed 172 trades during its live trading history. Assuming that the robot uses a scalping scheme, it is quite odd that it would trade so infrequently. So, our advice would be to go for a system with a longer track record.