The developer of Dark Gold defines it as a fully automatic Expert Advisor for scalp trading on several instruments, including Gold, Bitcoin, and EURUSD and GBPUSD currency pairs. It comes with external settings meaning that traders can set the robot according to their preferences. For desirable outcomes, the advice is to read the user manual and develop your settings.
The vendor is Marco Solito, an Italy-based developer. He is also a director at Dark Trading Biz and has 4 years of programming experience in this market. Marco’s portfolio features 30 products, a single signal, and 1463 downloaded demo versions. Some of the trading systems listed on MQL5 include Dark Venus, Dark Power, Dark Sprint, Dark Oscillator, and others.
Features
Dark Gold has the following features:
- Supports different currency pairs; XAUUSD, BTCUSD, GBPUSD, and EURUSD. You can also use other currencies with the appropriate settings.
- The recommended time frame is dependent on your settings, but it is advisable to use M5, M15, H1, and all other timeframes with the proper settings.
- Works with a low latency VPS
- Can run on the MT4 or MT5 account
- The recommended deposit and leverage depend on settings
- Always use an ECN broker
How to start trading with Dark Gold
Dark Gold works with two main strategies — scalping and trend following. The latter is the basic strategy. It entails generating profits by attempting to identify a persistent movement in price that is likely to continue in a similar direction. In short, the robot aims to capture profits from the trend as it continues. But if you want, you can change the settings for the robot to work with a counter trend strategy. The scalping approach is simple. Its major goal is to amass many small wins within short periods of time.
The current price of a lifetime license for Dark Gold is $59. This pricing is fair. However, there are no renting options or a money-back guarantee in the package.
Backtests
Backtest results for Dark Gold are missing. This raises a lot of questions. Did the dev test the EA in the first place? If he did, what outcomes were generated? Are the results desirable or not? For how long can the robot sustain an account?
No trading results of Dark Gold
The vendor has not shared the live trading stats for Dark Gold. The last time we visited the site, these results were available although they were unverified. So, Marco must have deleted them. We also searched for this live data on Myfxbook but couldn’t find it. This led us to believe that the vendor has not used the robot to trade a real/demo account on the site yet.
Customer reviews
Based on the 4.26 rating Dark Gold has on MQL5, it is clear most customers are happy with it. They indicate the EA opens orders and generates high profits when the setting is correct. Those of the contrary opinion say that the robot uses a money losing strategy and can produce huge drawdowns, especially for novice traders who might not know how to use it. Moreover, the stop loss hardly works, and if activated, it barely makes money.
Is Dark Gold a viable option?
Advantages
- Cheaply priced
- Customizable features
Disadvantages
- Lacks backtest stats
- Live trading stats are not present
- Can possibly blow up accounts
Summary
Not only is Dark Gold fairly priced but also customizable. Therefore, you can set the EA to work the way you want. Sadly, you can’t predict its performance prior to purchasing it, thanks to the dev’s lack of transparency. But you should take note of the customer reviews that say that the strategy is a loser. They may have some truth in them.
