GOLD EAgle is a Forex robot that works with the Metatrader 4 and 5 trading platforms. This system has been specially optimized to trade in gold. According to the vendor, this EA is now being sold at a discount and there are only 3 copies left.
On the official MQL5 page of GOLD EAgle, the vendor makes an extremely brief presentation. We have a short introduction to the EA, followed by the vendor recommendations. There are links provided for the Telegram channel, Live signals, and a User’s Manual. Finally, we have a few screenshots showing the trading performance for the EA. The vendor recommends using this robot with the M1-H1 timeframe.
This robot has been developed by a Russian trader by the name of Evgenii Aksenov. We know nothing about this person’s background and experience, and it is unclear whether he is working alone or as a part of a team. However, we can see that he has developed automated systems like Sakura, Relax FX, Galaxy EA, Infinity ProfitZone, Genesis EA, etc.
Features
This is a system that only trades in Gold. It uses the TrendLine pro indicator created by the same person and follows the grid strategy. The vendor claims that this is a strategy based on mathematical logic and that it allows you to open new orders to average profits so that profit can be extracted from all of them. Most traders do not prefer using the grid strategy, however, since they consider it too risky.
We feel like the vendor has not clearly explained what kind of features this EA has and what it offers. For example, it is mentioned that the auto trading functionalities are managed through a mobile trading panel, but no further details are provided on the same.
The information on the trading strategy is not adequate enough. Experienced traders often look for some technical details related to the strategy and in the absence of the same, it becomes difficult for us to gauge the robot’s profitability.
How to Start Trading With GOLD EAgle
GOLD EAgle is priced at $249, which is quite expensive for a Forex EA that was only launched a few months ago. There are no rent options provided by the vendor, and it seems there is no refund offer either. A free demo version of the software is offered by the seller, but it makes little sense to invest in an unproven EA that does not offer a money-back guarantee.
This EA has a DD Reduce Functions setting that, according to the vendor, allows you to close manual trades in profit. But nowhere is it explained exactly how this feature works. When you purchase the EA, you are provided with a user manual where you can also find the set file.
You have the option of choosing between conservative and aggressive trading styles using the Candle filter and HTF parameters. Again, the vendor does not explain how this works, but we are assuming it has something to do with the risk setting.
Backtests
It is quite odd that the vendor has chosen not to share the backtesting results for this robot. This is the bare minimum that any trader looks for when they are interested in a Forex EA. Satisfactory backtests are considered a sign of robustness since they pit the robot against various market conditions.
Unverified Trading Results of GOLD EAgle
On the MQL5 website, we have the live trading results of GOLD EAgle, presented in an account that has a trading history of 154 days. Here, we can see that a profit of $12338.30 has been generated through the account using an initial deposit of $20,000. This account has a win rate of 76.60% and a profit factor of 2.10. However, since the results are not verified by third-party websites like Myfxbook, FXStat, or FXBlue, we cannot consider them authentic.
Customer Reviews
We were unable to find any reviews for this Forex robot on popular review websites. There are some reviews on the MQL5 website, but these do not seem to be authentic.
Is GOLD EAgle a Viable Option?
Advantages
- Free VPS
Disadvantages
- No verified live trading results
- No backtesting data
- Overpriced
- No money-back guarantee provided
Conclusion
After analyzing the different aspects of the Forex EA, we must say that GOLD EAgle is a risky investment prospect. This robot has no verified live trading results, and the vendor has not even provided us with the backtesting data. Thus, there is no way we can objectively assess the trading performance of this system.
